THE BURMA STAR MEMORIAL FUND
TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
Charity Number:- 1109753
The Alanbrookes Group Ltd 24, Glove Factory Studios Holt, Wiltshire BA14 6RL
THE BURMA STAR MEMORIAL FUND
Contents
| Pages | |
|---|---|
| Charity Information | 1 |
| Trustees’ Report | 2 - 8 |
| Independent Examiner’s Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Accounts | 12 - 19 |
THE BURMA STAR MEMORIAL FUND
FOR THE YEAR ENDED 31 MARCH 2024
| Charity Information | |
|---|---|
| Patron | HM King Charles III |
| Trustees | The Viscount Slim – Chairman |
| Jeremy Archer Esq. | |
| Rear Admiral(Retired)Chris Clayton | |
| Matthew James Williams (appointed 10 May 2023) | |
| Vikas Krishan (appointed 10 May 2023) | |
| Lt. Col(Retired)Paul Mark Corden (appointed 13 November 2023) | |
| Director | Mark Cann |
| (non-statutory) | |
| Charity Number | 1109753 |
| Principal Office | 10a High Street, |
| Pewsey, | |
| Wiltshire | |
| SN9 5AQ | |
| Phone: 01672 564911 | |
| Email: admin@burmastar.org.uk | |
| Accountants | The Alanbrookes Group Ltd |
| 24 Glove Factory Studios | |
| Holt | |
| Wiltshire | |
| BA14 6RL | |
| Bankers | The Royal Bank of Scotland Plc |
| Bishopsgate Branch | |
| 49 Bishopsgate, | |
| London | |
| EC2N 3AS | |
| Solicitors | Wilsons LLP |
| Alexandra House | |
| St Johns Street | |
| Salisbury | |
| SP1 2SB |
-1-
THE BURMA STAR MEMORIAL FUND
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report and the financial statements for the year to 31 March 2024. In preparing this report the Trustees have complied with the Charities Act 2011, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), and applicable accounting standards.
Reference and Administration Details
The Charity information and list of trustees who have served during the year are detailed on page 1.
Structure, Governance and Management
The Burma Star Memorial Fund (‘the Fund’ or ‘the Charity’) was registered by Trust Deed as a charity in May 2005. The Deed established the Fund to commemorate the service and sacrifice of the men and women from the United Kingdom, Commonwealth and Empire and from Allied Nations who served in the Burma Campaign of 1942-1945.
The Trustees are the primary authority of the Fund and are ultimately responsible for holding and applying its assets for its charitable purposes. The Deed provides for a minimum of three trustees. New Trustees are recruited as and when required at the existing Trustees’ discretion with reference to their abilities that will enhance and further the Fund’s objectives. In the year three new Trustees were recruited, two by advertising through Nurole and other channels to gain expertise in fundraising and finance, the other is an authority on Burma Veterans through his involvement with the Chindit Society and 77 Brigade. All the pre-existing Trustees of the Fund were trustees of other charities before their appointment and were therefore familiar with the responsibilities that being a trustee involves. When new Trustees are appointed, training both inhouse with existing Trustees, or externally through appropriate trustee training courses, are provided, if required. The Trustees held four formal meetings each specializing on one main area: to approve annual budgets, review strategy, review output, marketing and fundraising and review the Financial Statements of the Fund, but also met on an informal but nonetheless recorded actions, basis every six weeks to ensure the smooth-running of the Charity.
The day-to-day management of the Fund was carried out by the Director who reports directly, on average every month, to the Board. There is also regular communication between the Director and trustees as appropriate.
A new strategy was presented and approved by trustees in March 2023 based on the pillars of Benevolence, Remembrance and Legacy. This was rolled out formally in May 2023 and will continue to be executed over the next 5 years.
-2-
THE BURMA STAR MEMORIAL FUND
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
Objectives and Activities for the Public Benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities.
The objects of the Fund for the public benefit are:
-
(1) to advance the education of people who are in need of financial assistance and who come from those Commonwealth and Allied countries that contributed service men and women to the Burma Campaign.
-
(2) to establish and maintain a memorial or memorials in remembrance of those who served in the Burma Campaign;
-
(3) to relieve those people who served in the Burma Campaign and their spouses and dependants who are in need by virtue of financial hardship, sickness or old age by:
-
a) making grants of money to them; or
-
b) providing or paying for goods, services or facilities for them including education or training; or
-
c) making grants of money to other persons or bodies who provide goods, services or facilities to those in need.
The Fund’s Scholarship Programme continues and a Scholar studying for a PhD in History at Northumbria University (specialising on Burma) continues to receive funding. Two further scholars were appointed in the year; both female Nepalese descendants of Burma Star medal holders, Nitya Pun is reading Law at London Holloway and is a UK citizen and Dr Kareen Rana a specialist post graduate course in Advanced Dentistry at Portsmouth, she lives in Nepal and is a strong advocate of a national dental health programme. These Scholarships are funded through a very generous donation by Mr Stephen Morant.
The maintenance of the Burma Star Grove at the National Memorial Arboretum continues to be undertaken throughout the year. A number of remembrance activities were organised and supported during the year. In particular VJ Day at the NMA and Field of Remembrance and Festival of Remembrance in November.
Work on the Fund’s website also continued over the year to ensure that it provides as accurate information as possible. The website is a valuable and much valued archive as well as a platform for information about the charity. Work has begun to ensure it reflects the new strategy.
-3-
THE BURMA STAR MEMORIAL FUND
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
Benevolence work continues, with the Charity involved in looking after the veterans of the Campaign, as well as their widows/widowers and dependants, when in need.
Since the transfer of the assets of The Burma Star Association from 1 April 2020, the Fund has continued to carry out the benevolence work involved in looking after the veterans of the Campaign, as well as their widows/widowers and dependants, when in need.
Achievements and Performance
Two scholarships were announced in the year for courses lasting three years. These students and the previous scholar undertaking a PhD are doing well.
Remembrance activity has been vibrant in 2023 with much increased activity by the charity including a number of important media stories.
Communication is a key area that the Trustees have been keen to develop, especially with so many people confined to their homes. The quarterly newsletter continues and grows and is sent out electronically to supporters and those who have expressed an interest in receiving it. It aims to keep everyone updated on the benevolence, remembrance, and legacy activity. The newsletter has proved very popular and an important communication tool. This along with the website and Facebook page regularly reports on. The charities assistance given to beneficiaries and the impact it makes.
The charity has once again become a strong advocate for the interest of remaining Burma Star veterans.
The benevolence work of the Charity continued and grants amounting to £9,098.00 were made in the year. Grants were paid for nursing home fees, where individuals are unable to meet these costs. Other smaller amounts were spent on different areas of need and to mark birthdays and anniversaries.
This reporting year as last year, has been significant with much greater output and activity than has been seen for many years and certainly above pre pandemic levels. The Trustees are grateful to all concerned for their hard work, adaptability, and patience. The fundraising efforts of the Charity continue to impress and are expected to grow with the new strategy. The Chairman is very grateful for the efforts of the Trustees and office for the performance in all areas over the reporting 12 months.
All the Trustees would like to thank each and every individual or organisation, who has contributed financially over the last year.
-4-
THE BURMA STAR MEMORIAL FUND
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
Financial Review
Unrestricted Income raised in the year was £90,387 compared with £81,248 in the previous 12month period. The total income for the Charity, including Restricted Income for the year to 31 March 2024 was £168,387 compared with £127,248 in the previous 12-month period.
In the year to 31 March 2024, the Fund made contributions towards an office in Pewsey, as well the Administrative costs paid to ChariAdmin Ltd.
Total Unrestricted Expenditure for the year was £78,050 compared with £80,473 in the previous 12-month period. The total expenditure for the Charity, including Restricted Expenditure for the year to 31 March 2024 was £108,524 compared with £104,676 in the previous 12-month period.
The net movement in funds for the year to 31 March 2024 was £73,068 compared with £5,750 in the 12 months to 31 March 2023. The total funds carried forward as at 31 March 2024 were £437,861 - some of these funds are restricted as identified in these accounts.
The significant development has been the change in staffing and administration structure the benefits of which have seen a reduction in routine running costs of 65%. The Trustees are very pleased with this result especially against the backdrop of significantly improved output.
The charity office is highly efficient but it should be noted that the equivalent of one person 4.5 days per week constitutes the entire employed work force.
The Trustees consider the charity a going concern for the next 12 months.
-5-
THE BURMA STAR MEMORIAL FUND
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
Grant-Making Policy
Those men and women who were entitled to the ‘Burma Star’ medal or the ‘Pacific Star’ with ‘Burma’ clasp and/or their widows, widowers and dependants, all qualify, subject to financial restrictions, for relief of need, hardship and distress from the Charity. Applications are referred by SSAFA, RCEL, the Officers’ Association, Ex-Service Charities, Regimental Associations, The Royal British Legion, non-service charities and Local Authorities after they have beneficiaries have been assessed by a caseworker. Checks are made initially to ascertain that an applicant is in receipt of all possible aid from the State and Local Authority, and support from a spouse or children is also taken into consideration.
Reserves Policy
The Trustees’ intention is to ensure that the level of reserves maintained would meet their charitable objectives in the short term, and that endowments can be established for legacy awards and scholarships over the longer term. They aim to achieve this by regularly reviewing, and, if necessary, updating their Grant-Making and Investment Policies each year, or as and when circumstances dictate. The Trustees review their Reserves Policy annually, taking into consideration the current financial climate.
The unrestricted level of reserves at 31 March 2024 are £343,538
Investment Policy and Performance
There were no restrictions on the power of the Trustees to invest the funds of the Fund. In order to ensure the Fund’s charitable work can continue to meet its objectives, a proportion of its unrestricted funds are invested to generate both income and capital growth.
As a result of current economic factors, the Trustees aim to have available in cash, sufficient funds that, together with anticipated income in any 6-month period, would be sufficient to meet its financial commitments for the next six months. Any cash, surplus to day-to-day requirements, is held on deposit. Reserves are invested in a Rathbone managed discretionary fund.
-6-
THE BURMA STAR MEMORIAL FUND
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgments and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going-concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial
statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Charity’s constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislations in other jurisdictions.
-7-
THE BURMA STAR MEMORIAL FUND
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
Plans for Future Periods
The Charity is very happy with its new strategic plan and will continue to fulfil it. In the next 12 months a significant development will be the creation and curation of a mobile museum. This will help as a fulcrum around which the schools programme can develop. The full strategy is laid out in a document available as a brochure and on the BSMF website.
Whatever changes are in the offing, the Trustees are confident that the Fund will meet these challenges and fulfil its charitable objectives going forward.
The Trustees note that 2025 will mark the 80[th] anniversary of VJ day and therefore identify the next 18 months as vital in articulating and establishing how the long-term remembrance and legacy of the Burma Campaign will play out. Greater cooperation with other vested interest groups and charities is vital so a clear ,coherent and well thought out message can be articulated. In effect VJ Day 2025 will be the last chance to achieve this.
Whatever changes are in the offing, the Trustees are confident that the Fund will meet these challenges and fulfil its charitable objectives going forward.
Approval
This report was approved by the trustees and signed on their behalf by:
The Viscount Slim Chairman of Trustees
15 October 2024
-8-
THE BURMA STAR MEMORIAL FUND
Report of the Independent Examiner To The Trustees of The Burma Star Memorial Fund
I report on the accounts of the charity for the year ended 31 March 2023, which are set out on pages 10 to 19.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all
the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination.
I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
……………………………..
Andrew Fisher BA FCA The Alanbrookes Group 24 Glove Factory Studios Holt Wiltshire BA14 6RL 18 October 2024
-9-
THE BURMA STAR MEMORIAL FUND
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| Notes | £ |
£ | £ | £ | |
| Incoming Resources | |||||
| Incoming Resources from Generated | |||||
| Funds:- | |||||
| Voluntary Income: | |||||
| Donations and Gifts | 2 | 79,154 | 78,000 | 157,154 | 115,319 |
| Activities for Generating Funds: | |||||
| Fundraising Income | 3 | 1,350 | - | 1,350 | 4,429 |
| Investment Income | 4 | 9,883 | - | 9,883 | 7,500 |
────── |
────── |
────── |
────── |
||
| Total Incoming Resources | 90,387 | 78,000 | 168,387 | 127,248 | |
────── |
────── |
────── |
────── |
||
| Resources Expended:- | |||||
| Costs of Generating Funds: | |||||
| Investment Management Costs | 5 | 315 | - | 315 | 413 |
| Fundraising Costs | 5 | 10,657 | - | 10,657 | 11,915 |
| Charitable Activities | 5 | 60,075 | 30,474 | 90,549 | 83,462 |
────── |
────── |
────── |
────── |
||
| Total Charitable Expenditure | 71,047 | 30,474 | 101,521 | 95,790 | |
| Governance Costs | 5 | 7,003 | - | 7,003 | 8,886 |
────── |
────── |
────── |
────── |
||
| Total Resources Expended | 78,050 | 30,474 | 108,524 | 104,676 | |
────── |
────── |
────── |
────── |
||
| Net Incoming/(Outgoing) Resources | before | ||||
| Other Recognised Gains and Losses | 12,337 | 47,526 | 59,863 | 22,572 | |
| Other Recognised Gains and (Losses) | 6 | 13,205 | - | 13,205 | (16,822) |
────── |
────── |
────── |
────── |
||
| Net Movement in Funds | 25,542 | 47,526 | 73,068 | 5,750 | |
| Reconciliation of Funds | |||||
| Total Funds Brought Forward | 317,996 | 46,797 | 364,793 | 359,043 | |
────── |
────── |
────── |
────── |
||
| Total Funds Carried Forward | 343,538 | 94,323 | 437,861 | 364,793 | |
══════ |
══════ |
══════ |
══════ |
The notes on pages 12 to 18 form an integral part of the accounts
-10-
THE BURMA STAR MEMORIAL FUND
STATEMENT OF ASSETS AND LIABILITIES
AS AT 31 MARCH 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| Fixed Assets | ||||
| Tangible assets | 7 | 3,975 | - | |
| Investments | 8 | 222,296 | 209,031 | |
| Current Assets | ||||
| Stocks | - | 1,000 | ||
| Debtors and Prepayments | 9 | - | 768 | |
| Cash at Bank and in Hand | 213,180 | 155,566 | ||
| ────── | ────── | |||
| 213,180 | 157,334 | |||
| Creditors:Amounts Falling Due Within One Year10 | (1,590) | (1,572) | ||
| ────── | ────── | |||
| Net Current Assets | 211,590 | 155,762 | ||
| ────── | ────── | |||
| Net Assets | 437,861 | 364,793 | ||
| ══════ | ══════ | |||
| Represented by:- | ||||
| Unrestricted Income Funds:- | 343,538 | 317,996 | ||
| Restricted Income Funds | 94,323 | 46,797 | ||
| ────── | ────── | |||
| Total Funds | 11 | 437,861 | 364,793 | |
| ══════ | ══════ |
The accounts were approved by the Trustees and signed on their behalf by:
The Viscount Slim Chairman of Trustees
15 October 2024
The notes on pages 12 to 18 form an integral part of the accounts
-11-
THE BURMA STAR MEMORIAL FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting Policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
1.1. Basis of Accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective from 1 January 2019), the Financial Reporting Standard 102 (FRS102) Section 1A and the Charities Act 2011. Accounting is on a cash basis, unless items considered relevant to the year in question should be adjusted for.
1.2. Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
1.3. Incoming Resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
-
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable.
-
Legacies and bequests are accrued if receipts are probable and the intent was that the receipt be reflected in the year by the grantor.
-
Income is only deferred when the donor has specified that the income is to be expended in a future period.
-
Investment income is included when receivable.
1.4. Resources Expended
Expenditure is recognised on a cash basis and includes VAT. It is reported as part of the expenditure to which it relates:
-
Costs of generating funds comprise the costs associated with attracting voluntary income.
-
• Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the costs linked to the strategic management of the charity.
-
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
-12-
THE BURMA STAR MEMORIAL FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
1.5. Fixed Assets and Depreciation
All tangible fixed assets are held as operating assets in the Charity’s office and relate to plant and office equipment. Depreciation on these fixed assets is charged so as to write off the full cost over their expected useful lives over four years.
1.6. Fixed Asset Investments
Investments held as fixed assets are revalued at the balance sheet date with any gain or loss being taken to the Statement of Financial Activities.
2. Donations and Gifts
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Scholarship programme – restricted | 67,500 | 36,000 | ||
| Donations and grants – restricted | 10,500 | 10,000 | ||
| Legacies & bequests – restricted | - | 78,000 | - | |
────── |
||||
| Scholarship programme – general | - | 3,600 | ||
| Donations and grants – general | 63,071 | 48,419 | ||
| Legacies & bequests – general | 16,083 | 79,154 | 17,300 | |
────── |
||||
────── |
────── |
|||
| 157,154 | 115,319 | |||
══════ |
══════ |
|||
| 3. | Fundraising income | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Fundraising events | - | 1,700 | ||
| Book & memorabilia sales | 1,350 | 2,729 | ||
────── |
────── |
|||
| 1,350 | 4,429 | |||
══════ |
══════ |
|||
| 4. | Investment Income | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Income receivable from investments | 6,975 | 6,846 | ||
| Bank deposit interest receivable | 2,908 | 654 | ||
────── |
────── |
|||
| 9,883 | 7,500 | |||
══════ |
══════ |
-13-
THE BURMA STAR MEMORIAL FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
5. Total Resources Expended
| Generating | Generating | Charitable | Total | Total | |
|---|---|---|---|---|---|
| Funds | Activities Governance | 2024 | 2023 | ||
| £ | £ | £ | £ | £ | |
| Costs of Generating Funds | |||||
| Investment management fees | 315 | - | - | 315 | 413 |
| Costs Directly | |||||
| Allocated To Activities | |||||
| Books for resale:- | |||||
| Opening stock | - | 1,000 | - | 1,000 | - |
| Purchases in the year | - | 406 | - | 406 | 2,373 |
| Closing stock | - | - | - | - | (1,000) |
────── |
────── |
────── |
────── |
────── |
|
| - | 1,406 | - | 1,406 | 1,373 | |
| Direct costs of activities and events | - | 6,460 | - | 6,460 | 3,337 |
| Benevolence grants & birthdays | - | 9,098 | - | 9,098 | 13,647 |
| Educational scholarships | - | 21,858 | - | 21,858 | 15,169 |
| Restricted funds contribution (1) | - | (30,474) | - | (30,474) | (24,203) |
| Depreciation | - | 1,325 | - | 1,325 | - |
| Support Costs | |||||
| Allocated to Activities | |||||
| External consultants’ fees and | |||||
| expenses | 10,657 | 37,251 | 5,329 | 53,237 | 59,575 |
| Rent and service charges | - | 4,050 | - | 4,050 | 4,200 |
| Rates | - | - | - | - | 383 |
| Insurance | - | 90 | - | 90 | 102 |
| Printing, postage and stationery | - | 516 | - | 516 | 46 |
| Website and computer costs | - | 4,085 | - | 4,085 | 2,242 |
| Sundry expenses | - | 4,363 | - | 4,363 | 698 |
| Bank charges and interest | - | 47 | - | 47 | 563 |
| Trustees’ indemnity insurance | - | - | - | - | - |
| Trustee recruitment costs | - | - | - | - | 1,200 |
| Accountancy | - | - | 1,674 | 1,674 | 1,728 |
────── |
────── |
────── |
────── |
────── |
|
| Unrestricted | 10,972 | 60,075 | 7,003 | 78,050 | 80,060 |
| Restricted | |||||
| Benevolence grants & birthdays (1) | - | 9,098 | - | 9,098 | 10,000 |
| Educational scholarships (1) | - | 21,376 | - | 21,376 | 14,203 |
────── |
────── |
────── |
────── |
────── |
|
| 10,972 | 90,549 | 7,003 | 108,524 | 104,676 | |
══════ |
══════ |
══════ |
══════ |
══════ |
-14-
THE BURMA STAR MEMORIAL FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
| ………Continued 6. Other Recognised Gains and (Losses) 2024 £ Unrealised (losses)/gains on revaluation of fixed asset investments 13,205 ══════7. Tangible Fixed assets Cost As at 1 April 2023 Additions As at 31 March 2024 Depreciation As at 1 April 2023 Charge for the year As at 31 March 2024 Net Book Value As at 31 March 2024 As at 1 April 2023 |
2023 £ (16,822) ══════Plant and machinery – Mobile Museum Trailer £ - 5,300 5,300 - 1,325 1,325 3,975 - |
|---|---|
-15-
THE BURMA STAR MEMORIAL FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
8. Fixed Asset Investments
| 8. | Fixed Asset Investments | ||
|---|---|---|---|
| Listed | Listed | ||
| Investments | Investments | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Cost or Valuation | |||
| As at 1 April 2023 | 208,726 | 225,548 | |
| Additions at cost | - | - | |
| Disposal at valuation | - | - | |
| (Losses)/gains on revaluation | 13,205 | (16,822) | |
────── |
────── |
||
| Market value of investments as at 31 March 2024 | 221,931 | 208,726 | |
| Cash held by investment portfolio | 365 | 305 | |
────── |
────── |
||
| 222,296 | 209,031 | ||
══════ |
══════ |
||
| Historical cost: | |||
| As at 31 March 2024 | 168,262 | 168,262 | |
══════ |
══════ |
||
| Carrying amount as at 31 March | 2024 | 2023 | |
| £ | £ | ||
| Rathbone Active Income & Growth Fund | 222,601 | 209,031 | |
══════ |
══════ |
||
| 9. | Debtors and Prepayments | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Prepayments | - | 449 | |
| Accrued income | - | 319 | |
────── |
────── |
||
| - | 768 | ||
══════ |
══════ |
-16-
THE BURMA STAR MEMORIAL FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
10. Creditors: Amounts Falling Due Within One Year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accountancy fee for the year | 1,590 | 1,572 |
══════ |
══════ |
11. Movement in Funds
| Balance at | Other | Balance at | ||||
|---|---|---|---|---|---|---|
| 1 April | Incoming | Resources | Gains & | 31 March | ||
| 2023 | Resources | Expended | Losses | Transfers | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted Funds:- | ||||||
| General Fund | 317,996 | 90,387 | (78,050) | 13,205 | - | 343,538 |
| Restricted Funds:- | ||||||
| Burma Star Grove | 25,000 | - | - | - | - | 25,000 |
| Burma Star Scholar | ||||||
| # 4 | 21,797 | - | (7,926) | - | - | 13,871 |
| Scholarship and | ||||||
| Educational - | - | 17,500 | - | - | - | 17,500 |
| Burma Star Scholar | ||||||
| # 5 and 6 | - | 50,000 | (13,450) | - | - | 36,550 |
| Benevolence for Veterans - |
10,500 | (9,098) | - | - | 1,402 | |
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|
| Total Funds | 364,793 | 168,387 | (108,524) | 13,205 | - | 437,861 |
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THE BURMA STAR MEMORIAL FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
12. Purpose of Restricted Funds
Burma Star Grove
Donations received specifically towards the future costs of maintaining the grounds around the Grove at the National Memorial Arboretum.
Burma Star Scholar # 4
A donation of £36,000 was received in the year to 31 March 2023 from the James & Deirdre Dyson Trust specifically towards the future educational and sponsorship costs of the Burma Star Scholar # 4.
Burma Star Scholar # 5 & 6
A donation of £50,000 was received in the year from Stephen Morant specifically towards the future educational and sponsorship costs of the Burma Star Scholars # 5 and #6.
Scholarships and Educational
A grant of £7,500 was received in the year from The Peter Stormonth Darling Trust for educational purposes which will be used for the school’s programme.
A grant of £10,000 was received in the year from an anonymous donor for educational purposes.
Benevolence for Veterans
A donation of £8,000 was received in the year from The Veterans’ Foundation together with a grant from The Barratt Development fund of £2,500 to be drawn specifically towards the future costs of benevolence grants disbursed and veteran’s birthdays.
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THE BURMA STAR MEMORIAL FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
………Continued
13. Analysis of Net Assets between Funds
| Unrestricted | Restricted | ||
|---|---|---|---|
| Fund | Funds | Total | |
| £ | £ | £ | |
| Investments | 222,296 | - | 222,296 |
| Tangible | 3,975 | - | 3,975 |
| Current Assets | 118,857 | 94,323 | 213,180 |
| Current Liabilities | (1,590) | - | (1,590) |
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|
| 343,538 | 94,323 | 437,861 | |
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14. Trustee Remuneration and Related Party Transactions
None of the trustees received any remuneration or reimbursement of expenses during the year (2023 - £Nil).
During the year, the Charity was charged £14,035 (2023 - £15,107) for external consultancy fees (administrative support) and expenses by CU2 Limited, a company in which Mark Cann is a director and Mrs E Cann, wife of Mark Cann, is also a director and the only shareholder. There were no amounts outstanding at the year-end (2023 - £nil).
During the year, the Charity was charged £33,002 (2023 - £36,857) for external consultancy fees (charity management) and expenses by ChariAdmin Ltd, a company to which Mark Cann, alongside his wife, Mrs E Cann, are the only directors and shareholders. There were no amounts outstanding at the year-end (2023 - £nil).
During the year, the Charity was charged £4,050 (2023 - £4,200) for office rent and utilities by the British Forces Foundation, a Charity to which Mark Cann holds the role of Chief Executive. There were no amounts outstanding at the year-end (2023 - £nil).
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