REGISTERED CHARITY IYUMBEIL. 1104212 HARITY IN,qMISSION PORT THE AUD ED NC TAT ENT DED3 ECE ER FOR FOR REN'S RUST FI CRT Limited Flat 24 Wellingtonia Covrt Laine C105e Brigbton East Su55ex BN16TD
FORCES CII1LDREs TRUST Co[ENTs OF THE FINANCtAL STATEMENTS FOR THE YEAR ENDKD 31 DECEMBER 2024 Pag¢ 'Report of the Tnistee5 I to 3 Illdepend¢t Examlner'$ Report Statsmenl of FIDaneAal Actfivi¢i¢s Balance She¢t Noteg to tbe FlnaDclal S¢a¢emeDts 7 to 13
FORCES CHTtJ)REWS TRUST REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustses present Ih¢ir report with the fiatal Statem of the charity for the year elld 31 Decanber 2024. The trllstees have adopted the PTOViSiODS of Accouoting and Reporting by Chariti&%." Siatement of Reconunended Practice applicable to charities prepariDg thetr accounts in 8C£OTthce with tbe Financi Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTlVtTIES Objectives and aims Tbe Cknty is devoled to wolDg together to help children in need whose father or ther I did or has sustained life ¢han<Ting iDjWi&& whilst a s¢rviDg meJnb¢r of the Arn)ed FO¢$ 8nd su¢h Oth oc¢upation$ as d¢termin¢d from tim¢ to time by the tniste¢s. The FOe8 Children's Trust is a sm8lL agile cbarity prOVidn support and posilive expe¥iences to cbildn who b8vc suffered a 8reat loss. By participating in events like theatre trips and holidays with other ¢hildren ill a Similar situation they can create th¢ir owm way of moving forward. Publlc benefrt The Trustees ¢oftfm that they have referred to lkne guidallce contained in the Charity Com]nissiots's general guidance oll public benoftt when reviewing the Charitys aitms and objectives and in the planDing of fihure activities. Grxntmaklng When all applicatlOD for fancial assisiance is 0de by or on behalf of an individual who falls within th¢ Trust's remit, the Trust will only consider such aD application in the context of its genernl principal of nol awarding direct assi8tanr¢ by way of ¢osh granis. The Trust will fuBt give consideration to tbe feasibiliry of providing such assistance in kind by funding the use of a re¢o8TLised 3rd party or Or1]sailOn. Where such an application is made to m¢et a debt acquired by or on behalf of tho appli¢8nt such debt will be paid by the Tn to the creditorfs) onc¢ 1he Trnst 1$ assured of the validity and leglty of sych ind¢btedness. The Ttust s0 wovides funding for research prorn Ènd collaiK)raies with other military char1tieslestthliybmts who have objects sitni18r to their ow AClItEVEMENT AIYD PERFORMANCE Ch8ritable Y4Ctlvltles Durillg 2024 tWCDty-four childrcD attended the FCT Outward Bound course in the l•ke District. Fifteen YoW5trg had the experience of sailing on a tsu ship duriog the summer. Four fwnilies enjoyed 8 holiday in Spain at out tithesbare 8partrnctts. The aDDual Xmas Party took place this year, the fatnilies arrived in the morning and a buffet Iullch was provided before they went skiing and snowlx)arding in the afternoon. The families enjoyed this very and we received very positive feedback from all, particularly &s many had nevff had the opportunity to ski or snowboard before. We returned to the hotel and in the evenin8 they all enjoyed ex¢ell¢Dt meal aloDg with 2 entertainers and a di$¢o, We contimRd to ¢ontribute towards tbe cos¢ of extra4urriou18r l¢ssolls for those children who Deeded them. As part of our initiative to coll8bor8te with other areas of the tnilitary. we donated £IO.OOQ.00 to help facilitate an adventure week for Cbildren wbo are b&sed at RAF Brize Norton. FINANCIAL REVtEW Finalleial poslllon The ¢barity incurred a loss during the year of £33,965 before vnrealised investment gains. This Iw been de4uctsd from the unr¢8Jised gain ots investments of £8l,943 to give an overall surplus for the year of £47,978. After adding this to the r¢serv¢s brou8bt forward of £1,299,589 the Te5erves b) be wried for¥vard are £1,347,567. Page I
FORCES CHILDRENS TRU REPORT OF THE TRUSTEFS FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Reserves poliry The policy is lo dislnl>ute the income generdted by the invest[Dts wbi]st keepiDg the capital intact. Should the need arise howeverthen the charity would use the capital. Thc governing docuent ststes that in the event of Ib&qolution of the chJity 1he TMini reserves must be given to anotber charity (or otber clthrities) with objects dt are no wider th8n the charitys OW for the genernl pUoSe8 of th¢ recipient charity (or ¢l)arities): or ro ally charity for use for particular purposes which fall within th¢ cl]arity's objects. FirruRE PLANS We have secuY¢d anoth¢r week in Augus¢ at the Outward Bound Howiown Centre in the Lake Distri¢L Holidays foT some families in Spai Possibly anoth¢r sailing Trip. We are fuDding a r¢search programme with Northumbria University (Newcastle) this res¢arcb is over an 18-month p¢riod. W# are collaborating with other miliiary cbarities who have objects similar to our OW ie., offering place$ at out events and working togeth for the bettern)ent of the end user. AS chlldr¢n's and young people's problems with mental health including ADHD aDd Autism is prevalent, w¢ are looking into ways wber¢ we can assist with the eosts of a private di&gDoses and treatsneDts as the NHS wating ligts are oversubscribed. We are contilluing to id¢Dtify other are&8 where the FCT can help that fall within our cumÉ remit and to Possibly extend the charilies objects to enable the FCT to use our fimds wheTe it is lleedcd mosL STRUCTUR[ GOVERNANCE AND MANAGEMENT GoverThlllg documellt 'rhe Charity w&% establis11 UDder a Trust Deed datsd I l May 2004 as an)ended by resolutiODS dated I l July 2007 md 27 April 2020. Recrultment appointm¢nt of neiv trustees 'rrustees are appointed by the cxisting Trustees and are selected by pcThon81 TQCO]Dmdatio Organlsatlonal strnrture The Trustees meet and are in wita¢t wÉth each other on a regular basis to dlscuss th¢ atfair5 of the clrity. REFÉRENCE AND ADMINISTRATIVE DETAll Registered Cbarlty number 1104212 Prlllcipal address 6) Shawley Way Epsom KT18 5PD Trustee$ D Wise Miss A L Hayes Mr$ C J Parry Dr D Dymond J J Webb (appoint¢d 31.724) Page 2
FORCES CFtIlJ)REWS TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AIYD ADMtNISTRATIVE DETAIts Independent Eiathiller Christopber Rolxrt Tyl FCA DCbA FCIE FI CRT Limited Flat 24 Wellingtonia Court Laine Close Brigbton East Sussex BNI 6TD Chief Executive Officer D Wise Bankers Santandei. UK PLC Bridle Road Bootle Merseyside L30 4GB STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Rewrt of the Trustees and the fJnan¢ial swements ID a¢cordance with applicable law and United Kingdom Accoun¢ing StWMlards (Unitthl Kingdom Generally Accepted A¢UtIng Prnctice). The law applicable to charities in England and Wale& the CILariliey Act 2011: Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each fiJ)ancial year whicb give a true and fair v&ew of the state of affairs of the charity aDd of tbe i]Korning Tesources and applicatioll of reSOue Including the incotDe and expenditure. of the dwity for periLNJ. In Preparing those firtancial slatell7 the lrnste¢s are required to 8elect suitable accounting policics and then appty them consisth11y; observe the methods and principles in the Charity SORP: rnake judgetnents and esLin)ates that are reasonable and prudcnt, prepare the fUncIal StateentS on the going concern basis unless il is inappropriate to preSUn that the charity will continue in busiDe&s. The trustees are respOnsile for kn*ping proper accounting records which disclose with reasonable accurncy At any time tbe financial position of the charity 8nd to enable them to eLsure that the r]nancial statements comply with tbg Ch&ritieg Act 201 I, the Charity (Accounts and Reports) Regulations 2(X)8 8nd the provisions of the trst decd. They are also Tesponsible for safeguarding the &ssets of the Chlty and heDC¢ for taking reasonable steps for the pr¢vention and detertion of fraud and other irregularities. Approved by ord¢r of the board of trustees oll..... 4.>.%.......... 8nd Sed on its b¢halfby. D Wise,- Tru8te¢ Page 3
JNDEPENDEKf EXA1lER's REPORT TO THE TRUSTEES OF FORCES CHILDRENIS TRUST Independent examin&s report to the of Forces Childrem's Tht I report to the charity trust% on my examithon of the accounts of Forces Children's Tn]st (the Trust) for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the TThst you afe responsil)le for tbe PTepaT8tion of the accowts in accordance ryth the requirements of the Charities Act 2011 Cthe Acfj. I report in r¢sp¢ct ofjny examinatson of Truses acc4)unts carried out Section 145 of the Act and carying out my examination I hav¢ fojlowed all applicabl¢ Directions given by the Charity Commission und¢¥ kntion l45(5)(b) of the Act. Independent examknerfs 5tst¢niellt I have ¢ompJded rny examinatio l ¢onfwm that no material mattoTS bave come to my attsntI in COWctE0 with the exarnination giving me ¢ause to believ¢ that in any material TW: ac¢ouDting records were not keo io rwt of the Tnt as Twired by Section 130 of the Ac¢ or the a¢¢ounts do not COrd with those record5: or the accounts do not comply with the applicable requirenwits concerninui the fotTh and ¢onteDt of a¢Munts set out in the Cbarities (Accounts and Reports) Regulalions ?Crt)8 other than any requirement that tbe a¢¢ounts give a tnie atsd fair view whicb is not a matter Considered a5 part of an independent examination. I have no con¢erns and have come across no other matter5 in CODnection witb the exam1ttiOn to which attention Bhould be drawn ill this rew)rt ID order to oth1¢ a proper understanding of the accounts to be reacb Cbristoph¢r Robert Iylcr FCA DChA FCIE FI CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BNI 6TD Dat¢: .... Page 4
FORCES CHILDREWS TRUST STATEMENT OF FINANCIAL AcrivrrIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Total fi]nds INCOME AND LYDOWMKNI3 FROM Dolltitions and legacies 13.462 23,007 Investment income Oth¢r income 49.092 5.165 48,189 3,476 Total 67.7l9 74,672 EXPEIYDITURE ON Raising ndS 505 650 Charltable aetlvitks Beneficiary expenses Support costs 99,8J I 1,368 84,482 1,368 Totsl 101,684 86,500 Net 8aillS on investsnents 81.943 11,469 NET INCOMEI(EXPENDITURE) 474978 (359) RECONCILIATION OF FUNDS Total I]dS brou8bt forward 1,299.589 1.299.948 TOTAL FUNDS CARRIED FORWARD 1,347,567 1,299,589 The notes fonn part of these financi ststements Page S
FORCES CHtLDREWS TRUST BALANCE SHEET 31 DECEMBER 21124 2024 2023 Total Not&s FIXED ASSETS Tangible asscts Tnvestments l2 l3 649 1,179,514 1261.457 1261.944 1,180,163 CURREP4T ASSETS Stocks D¢btors Cash at bank and ID haDd 14 15 5,910 1,579 79.607 5,410 1,512 113,977 87,096 120,899 CREDITORS Amounts falling due within one y¢ar 16 (1,473) (1,473) NET CURRENT ASSETS 85,623 119,426 TOTAL ASSETS LESS CURRENT LSLlEs 1347,567 1,299,589 NET ASSETS ,347,567 1,299,589 FUNDS Unrestricted funds 17 ,347,567 1,299,589 TOTAL FUNDS 1,347.567 1,299,589 The financial statemeDts were approved by the Board of TTUStees and authorised for issue op and were signed on its behalf by: D Wise - Truste¢ The no fornl of thes¢ fmancial staieme Pag¢ 6
FORCES CHELDREWS TRUST NOTES TO THE FINANCIAL STATETrtEwrs FOR THE YEAR ENDED 31 DECEMBER 21124 ACCOUKflNG POIICIES Basis of pr¢ping the statemthts The fmancial statell8 of Ébe clwitable company, is a public benefit ertity utKieT FRS102, bavt been prepared in accordahce with the Charities SORP (FRS102) 'Accouthg aDd RqxKling by Clwities: Statement of Recommended Praaice appli¢able to charities preparing their a¢¢ow)ts with the Financial Reporting Standard applicable in the UK aod Republic of IreIand 102) (efftttive l jan7 2019),, Financial Reporting Standard FRS102 'The Financial Reporting Standard applicable in the UK ond liepublic of Ireland, and the Companies Acl 26. Th¢ financial slatements have been pr¢par¢d UDder th¢ bisiorical cost convention. The are prepared in stu11 whicb is the fiCtIonal curyency of the tharity. Mon¢tary anUnts in these linaDciaJ statsmenls ar¢ rouDded to the neatest £. Tbe trUstedireCtOry consider there are no material UDrAtiinti&8 about the Company's ability to cimtinue as a going concern. In¢om¢ All income is recognised in tbe Statement of Financia] Activities orA¢e the chlty has entitlement to the fimds, it is probable that tbe inwme WAII be received and the amount Can be rneaSu reliably. Expenditur¢ Liabilities ttcognised as exditre as soon as there ts a legal or ¢onstnKtive obligation rmllnitting the Charity io that expenditure, it is probabl¢ tbat a transfer of economic benefits will b¢ required irt settlenmrt and tbe amount of the obligation ¢an be measured reliably. Expenditisre is ac¢ounÉed for on aD accruals basis and ha5 been ¢lassifi¢d uDd¢r beadings that aB8regate all cost related to the category. Where costs cannol b¢ dtrectly attributed 10 p•ticular beadings they have been allocated to activities on a basis consistent with th¢ use of resources. Tanglble Ilxed assets DepreciaLion is provided at the following amwal rA in 0eT lo write off ea¢h asget over btg estimated us¢1 life. Fixtures and fitttogs- 250/0 Ort reduciog balance Stoe Stocks are valued at the lower of cost and nct reali58blc value. Bftcr makin8 due allowance ftlr obsolote aod 8low moving items. Tax8tlon The charity is ¢onsidered to pass th¢ t&sts set out in P8ragr8ph I Schedule 6 FIn8n Act 2010 and therefore it mects th¢ definition of a charitable company for UK Corpordtton Tax purpos¢s. Accordingly the ch8rity IS potentialty ¢xempt from thxation in respecl of tncome or c8Pital gaitis reiVed within categories covered by Chaptcr 3 Part I I Corporation Tax Art 2010 or Section 256 of the Ch8rbieable Gains A¢t 1992, to the extent that su¢h inrorne or gains arc applied exclwively to chitable purw)ses. Fund ac¢ouDting Unrestricted funds can be u3ed in acthance with tb¢ cbaritable objective5 at the diretion of th¢ trustees. Restri¢t¢d fuDds caD only be used for particular restricted purp)ses withio th¢ objects of th¢ charity. R¢strictxons arise when specified by the donor or when fullds are raised for p&rti¢ular restricted pury)os¢s. Further explan*iOD of the natute and pwe of each fund is included in the ooteg lo the finan¢ial statements. continued,..
FORCES CHItJ)REN'S TRUST NOTES TO THE FINANCLIL STATEMEKfs - {ntinUed FOR THE YEAR ENDED 31 DECEMBER 21124 DOIYATTONS AND IICACIES 2024 2023 Donalions 13,462 23,007 INVESTMEIYT INCOME 2024 2023 Unit tmst income Deposil awount int¢re5t 48,289 803 47,344 845 49.092 48,189 OTHER CoME 2024 2023 Online fiIiDg incentive 5,165 3,476 RAISING FUNDS Raising donatlons and legatles 2024 2023 Web donation charges Advertising & protnotion 216 289 216 434 505 650 CHARITABLE ACTIVITIES COSTS sUp)rt costs (see note 8) Costs (see note 7) Totals Beneficiary eJ(peD5es Supw)rt costs 99.811 99,811 1,368 lJ68 99,811 1.368 101,179 Page 8 continued...
FORCES CHILDREIWS TRUST NOTES TO THE FINANCIAL STATEMEIYIS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Evenls for beneficlarieg Staff costs Office expenses Pretnises expenses Insurance Profession fees D¢pr¢Gialion 39J87 56.189 1.686 940 1.149 298 162 24,745 56.304 754 1,154 1,059 250 216 99,811 84,482 SUPPORT COSTS Governance costs Support costs 1,368 Support Costs, In¢luded in th¢ above. are as follows: 2024 Support costs 2023 Toial activitles Jnd¢pendent examADation 1.368 1,368 TRUSTEES, REMUNERATION AND BEY4EFITS The Cbief Execuliv4 D Wis< rec¢ivcd a salary of £46,OQMJ (2023:£46,0(Kl} and £5,096 (2023: £5.096) to his wife, Mrs T Wis4 during the year 18 perrnitted by the Trust Dec No rcmuneratiOD w&s paid W any oth¢r Tn]slee. Trnstees. expell There were no tnLStees' exlse8 paid for the yvar ended 31 Dmnber 2024 nor for the year endèd 31 December 2023. Jo. STAFF cOs Siaff sts duriDg the year were as foll0v. 2024 2023 51,096 5,208 Gross Salaries So¢ial Security Costs Flo employ¢e [C1Ved remuneration in excess of £60,CQO (2023:NorJe). 51,096 5,093 These costs were in respect of l 17 tiEne and i part time perso The charity considers its key personnel to be the trustees. Deiails of the benefits paid to them Ire disclosed in note 9. Page 9 continu¢d...
FORCES CIULDREIVS TRusr NOTES TO THE FINANCIAL STATEIKEN13 . continuLYI FOR THE YEAR EIYDED 31 DECEMBER 2024 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfIviTIES UnrestrActed funds INCOME AND ENDOWMENTS FROM Donations and l¢gaci 23,007 Investment incoJne Other incom¢ 48,189 3,476 Total 74,672 EXPENDITURE ON Raising ndS 650 Charitgbl¢ activltles Beneficiary expeDses Support costs 84,482 1,368 Total 86,500 Net on invesiments 11,469 NET INCOMEI(EXPENDITURE) (359) RECOlYCtLIATION OF FULYDS Total funds brousbt forw8rd 1,299.948 TOTAL FUNDS CARRIED FORWARD 1,299,589 12. TANGIBLE FIXED ASSEIS Fixture5 fitting5 COST At l January 2024 and 31 Deceather 2024 3,847 DEPRECIATION At l January 2024 Cknrye for year 3,198 162 Al 31 D¢rnber 2024 3,360 NET BOOK VALUE At 31 December 2024 487 At 31 December 2023 649 Page 10 continued...
FORCKS CIItLDREWS TRUST NOTES TO THE FINANCIAL STATETrfENTS - continue FOR THE YEAR ENDED 31 DECEMBER 2024 13. The Cbarityhas the following investsnats . Unquoted Th¢ Charity owns th¢ cntir¢ call¢d up share wital of £1 in Fcf Trading LAmitr& a LM)n4wy in¢oryorated in EDgland and Wales. FCT TTh1illg Limitsd was dorn throughout the year ulldeT miew aod has no assets. Quoted Th¢ Charity acquired 1,045281.78 lts in Scbroders The Charity Mulli.Assei Fund A Distribution during 2015 d a further 150.027.62 ullits dwing 2018, aDd 244J37.508 units in BlackRo¢k 'Amied FO¢S Conunon Inveslment Fund Income. in 2017. The movem¢ni during the year w&s as follows . 2024 2023 Balance brought forward Addition$ Revaluation Balance carried foNard ,179,514 I,327,232 179 1.4. sfocKS 2024 2023 Slocks 5.910 5,410 15. DEBTORS: AMOUNT3 FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors ,579 1,512 ifj. CREDITORS: AMOIJNTS FALLING DUE WH[N ONE YEAR 2024 2023 Other edItOrs 1,473 1,473 Pag¢ 11 ¢ontinued...
FORCES CHILDREPI'S TRUST NOTES TO THE FtNANCIAL STATEMEiYfs . continued FOR THE YEAR EM>ED 31 DECEMBER 2024 17. MOVEMENf IN FUNDS Net m0venDI in fimds At 31.12.24 At 1.124 Unrestricled fuuds General fimd Designaled Fund. EdUtio Fund 1,165212 134,377 48292 {314) 1,213,504 134.063 1299589 47,978 1,347,567 TOTAL FUNDS 1.299.589 47.978 1,347,567 N¢t movem¢nt ik] funds illcluded ill th¢ above are as follows: Tncoming Gains and losses Movement In &5 expended Unrestrleted funds Genernl fund Desigftated FuDd- EducaiioDal Fund 67,719 (101,370) (314) 81,943 48,292 (314) 67,719 (101,684) 81,943 47,97B TOTAL FUNDS 67,719 (101,684) 81,943 47,978 Comparatlves for movement In funds Net movement in fiJnd$ At 1.1.23 31.12.23 Unrestrlcted funds General fund Designated FuDd- Educ8tiooal Fund 1.164,610 J35.338 602 (96l) 1,165,212 134.377 1299.948 (359) 1.299.589 T(yfAL FUIYDS 1299.948 (359) 1,299,589 Comparative net movetnent in fuftd includ¢d in the above are as follows: IDcorning R¢sourw Gains and Movement resources expended losses In f[d9 Unrestrlcted funds G¢neral fund Designai¢d Fund - Educational Fa 74,672 (85,539) (961) 11,469 602 (961) 74,672 {86,5(J)) 11,469 (359) TOTAL FUNDS 74.672 (86S(A)) 11,469 (359) Page 12 ¢ontinued...
FORCES CHIIJ)REIYS TRusr NOTES TO THE FINANCIAL STATEIIIENTS . continued FOR THE YEAR ENDED 31 DECEMBER 2024 18. RELATED PARTY DISCLOSURES There were no related paty Irdnsactions tor the year ended 31 December 2024 (rth than those noted elsewhere in the accoutts. Page J3