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2022-07-31-accounts

Reference and administrative
information		 Reference and administrative
information		 Reference and administrative
information		 ...... 1
Trustees'
annual
report		 3
Independent
auditor's		 report .... 18
Consolidated
statement		 of financial activities 23
Balance sheets ....24
Consolidated
statement		 of cash flows. 25
Notes to the financial
statements		 ....26

For the year ended 31July 2022 For the year ended 31July 2022 For the year ended 31July 2022
Company number 05454676 —incorporated
in the		 United Kingdom
Charity number 1111106—registered in England &Wales
Registered address Old Fire Station
Salt Lane
Salisbury
Wiltshire
Spl 1DU
Operational address Royal Artillery Barracks
Larkhill
Wiltshire
SP4 BQT
Trustees Trustees, who are also directors under company law, who served
during
the year and		 up to the date of this report were as follows:
Major General R M Clements
Brigadier
N Budd		 (Appointed 1 June 2022)
WO2 TAlexander
WO2 A Assad
Mr0Adams
Colonel
M Dornan
Colonel 5 Ellison
Brigadier C Hewitt (Resigned 01 June 2022)
Mr TJackson
MrJ B Knowles
Colonel C Palmer
Mrs AJStorey
Key management Claire Foxley Chief Executive
personnel Simon Upton Operations Director (Retired 14July 2022)
John Le Feuvre Operations Director (Appointed 15July 2022)
Secretary Brunswick
Company		 Secretaries Limited
Bankers Lloyds Bank
1st Floor
3 Town Quay
Southampton
5014 2AQ
Bankers (continued) CAF Bank Limited

2S Kings
Hill		 Avenue Avenue
Kings
Hill
West Mailing
ME19 4JQ
Nationwide
Building		 Society
Kings Park Road
Moulton
Park
Northampton
NN3 BNW
Solicitors Blake Morgan
New Kings Court
Tollgate
Chandler's
Ford
Eastleigh
Hampshire
5053 3LG
Auditor Sayer Vincent LLP
Chartered
Accountants		 and Statutory Auditor
Invicta House
108-114Golden Lane
LONDON
Eely OTL

Consolidated
statement
For the
ear ended 31		 o
ul		 ffinancial
acti
2022		 vities
(i		 ncorporating
an		 income and ex penditure
acco		 unt)
Unrestricted Unrestricted 2022 Unrestricted Unrestricted 2021
Note General
..
f		 Designated
f		 Total
f		 General
f		 Designated
6		 Total
f
Income from:
Charitable
activities
Army Apprenticeships
Educational
Training
Trading
activities
Other
Investments		 1,199,023
130,624
72,332
66,089
26,909		 1,199,023
I30,624
72,332
66,089
26,909		 1,473,998
117,828
45,830
36,291
37,003		 1,473,998
117,828
45,830
36,291
37,003
Total income 1,494,977 1,494,977 1,710,950 1,710,950
Expenditure
on:
Investment
management
Charitable
activities		 fees 8,600 8,600 7,460 7,460
Army Apprenticeships
Educational
Training
Trading
activities		 1,838,846
115,312
65,287		 1,838,846
115,312
65,287		 1,594,782
100,461
41,719		 1,594,782
100,461
41,719
Total expenditure 2 2,028,045 2,028,045 1,744,422 1,744,422
Net (expenditure)/income before net
rrains/(losses)
on investments		 (533,068) (533,068) (33,472) (33,471)
Net gains/(losses)
on investments		 9 (111,926) (111,926) 187,610 187,610
Net income
/ (expenditure)		 for the year
and net movement
in funds		 3 (644,994) (644,994) 154,138 154,139
Reconciliation offunds:
Total funds
brought
forward		 1,118,697 2,000,000 3,118,697 964,559 2,000,000 2,964,559
Total funds carried forward 473,703 2,000,000 2,473,703 1,118,697 2,000,000 3,118,697

As at 31
ul
202		 2
The group The charity
Note 2022 2021f 2022
f		 2021
f
Fixed assets:
Tangible assets 8 32,382 59,392 32,382 59,392
Investments 9 2,109,185 2,202,990 2,109,185 2,202,991
2,141,567 2,262,382 2,141,567 2,262,383
Current assets:
Debtors I2 227,659 370,495 258,274 378,570
Cash at bank and in hand 225,332 596,383 182,820 582,634
452,991 966,878 441,094 961,204
Liabilities:
Creditors: amounts falling due within one year 13 (120,853) (110,563) (116,002) (109,000)
Net current assets 332,138 856,315 325,092 852,204
Total net assets 15 2,473,705 3,118,697 2,466,659 '3,114,587
The funds ofthe charity: 16
Unrestricted
income funds:
Designated
funds		 2,000,000 2,000,000 2,000,000 2,000,000
General funds 473,705 1,118,697 466,659 1,114,587
Total unrestricted funds 2,473,705 3,118,697' 2,466,659 3,114,587
Total charity funds 2,473,705 3,118,697 2,466,659 3,114,587

2022 2021
f f
Net income
/ (expenditure)
for the reporting		 period (645,280) 154,138
(as per the statement
offinancial
activities)
Depreciation
charges		 49,935 42,239
Loss on disposal offixed assets
(Gains)/losses
on investments		 111,926 (I87,610)
Dividends,
interest and rent from investments		 (26,909) (37,003)
(Increase)/decrease
in debtors		 143,312 (99,434)
Increase/(decrease)
in creditors		 10,290 17,284
Net cash (used in)/provided
by operating		 activities (356,726) (110,386)
Cash flows from investing
activities:
Dividends
and interest from investments
Purchase offixed assets
Proceeds from the sale of investments
Purchase of investments		 26,722
(22,925)
411,633
(639,060)		 37,003
(22,285)
507,441
(308,546)
Cash movement
in investments		 209,305 (228,251)
Net cash used in investing
activities		 (14,325) (14,638)
Change
in cash and cash equivalents
in the		 year (371,051) (125,024)
Cash and cash equivalents
at the beginning		 ofthe year 596,383 721,407
Cash and cash equivalents
at the end ofthe year		 225,332 596,383

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This is st ated after cha rging:
2022 2021
5 f
Depreciation
Auditor's
remuneration		 (excluding VAT): 49,935 42,239
Audit 10,750 10,050

insurance an d employer
pension
contributions)
during the y		 ear between:
2022 2021
No. No.
f70,000 —f 79,999 1 1

The aver age
number ofemployees
(head count based on nu		 mber ofstaff employed)
during the year was as foll		 ows:
2022 2021
No. No.
Army Apprenticeships 41 37
Training Courses 1 1
Support 5 5
47 43

Tangible fixed assets
Online
Learning Fixtures
and		 Motor
Group and charity Portalf Portacabin
f		 fittings
f		 Computers
f		 vehicles
f		 Total
Cost
At the start ofthe year 328,393 79,236 20,550 164,233 46,730 639,142
Additions
in year		 3,127 19,798 22,925
Adjustment
in year
At the end ofthe year 331,520 79,236 20,550 I84,031 46,730 662,067
Depreciation
At the start ofthe year 270,833 79,236 20,550 162,401 46,730 579,750
Charge for the year 45,344 4,591 49,935
At the end ofthe year 316,177 79,236 20,550 166,992 46, 730 629,685
Net book value
At the end ofthe year 15,343 17,039 32,382
At the start ofthe year 57,560 1,832 5I) 392
All ofthe above assets are used for charitable purposes.
Listed investments
The group The charity
2022 2021 2022 2021
f f 6 '
f
Fair value at the start ofthe year 2,202,989 1,986,024 2,202,989 1,986,025
Additions
at cost		 639,060 308,546 639,060 308,546
Disposal proceeds
Change
in cash held		 (411,633)
(209,305)		 (507,441)
228,251		 (411,633)
(209,305)		 (507,441)
228,251
Net gain on change
in fair value		 (111,926) 187,610 (111,926) 187,610
Fair value at the end of the year 2,109,185 2,202,990 2,109,185 2,202,991
Investments
comprise:		 The group
2022
2021		 The charity
2022
2021
5 f f f
UK Common
investment		 funds 1,045,945 1,255,888 1,045,945 1,255,888
Listed investments 1,036,472 709,394 1,036,472 709,394
Cash 28,402 237,708 28,402 237,708
investment
in subsidiary		 company I
2,110,819 2,202,990 2,110,819 2,202,991

Executive are also di rectors ofthe sub sidiary.
A summary
ofthe results of
the subsidiary
is shown
below:
2022 2021
f f
Turnover
Cost ofsales		 72 332
(45,759)		 45,830
(40,229)
Gross profit 26,573 5,601
Administrative expenses (19,529) (1,491)
Operating
prot)t and		 profit on ordinary activities 7,044 4,110
Retained
earnings
Brought forward
Profit for the year
Distribution
to parent		 under gift aid 4,110
7,044
(4,110)		 32,171
4,110
(32,171)
Carried forward 7,044 4,110
The aggregate ofthe assets, liabilities and funds was:
Assets
Liabilities		 45,341
(38,297)		 18,682
(1'4,571)
Funds 7,044 4,111

2022 2021
E E
Gross income
Result for the year		 1,422,645
(652,324)		 1,697,291
182,199
Debtors
The group
2022		 2021 The charity
2022
2021
E E E E
Trade debtors
Amounts
due from trading
Prepayments
Accrued
income		 subsidiary 86,309
43,994
97,356		 162,473
36,165
171,857		 86,159
33,445
43,871
94,799		 157,573
13,008
36,132
171,857
227,659 370,495 258,274 378,570

Creditors : amounts
falling due within one yea		 r
The group The charity
2022 2021 2022 2021
f E E E
Trade creditors 37,246 33,257 32,393 31,692
Taxation and social security 31,655 29,768 31,655 29,768
Other creditors 8,311 9,588 8,313 9,590
Accruals 43,641 37,950 43,641 37,950
120,853 110,563 116,002 109,000
Analysis of group net assets between funds (current year)
Urirestricted Unrestricted Total
General Designated funds
E 'E E
Tangible
fixed assets		 32,382 32,382
Investments 109,185 2,000,000 2,109,185
Net current assets 331,850 331,850
Net assets at the end ofthe year 473,417 2,000,000 2,473,417.
Analysis of group net assets between funds (prior year)
Unrestricted Unrestricted Total
General Designated funds
E E E
Tangible
fixed assets		 59,392 59,392
Investments 202,990 2,000,000 2,202,990
Net current assets 856,315 856,315
Net assets at the end ofthe year 1,118,697 2,000,000 3,118,697
Movements in funds (current year)
At I August Income & Expenditure At 31 July
2021 gains & losses Transfers 2022
E f f E E
Unrestricted funds:
Designated funds:
Strategic Funds 1,900,000 1,900,000
Facilities Funds 100,000 100,000
Total designated funds 2,000,000 2,000,000
General
funds		 1,118,697 1,383,051 (2,028,045) 473,703
Total unrestricted funds 3,118,697 1,383,05'I (2,028,045) 2,473,703
Total funds 3,118,697 1,383,051 (2,028,045) 2,473,703

At I August Income
&		 Expenditure At 31July
2020 gains & losses Transfers 2021
E E E f
Unrestricted funds:
Designated funds:
Strategic
Facilities		 Funds
Funds		 1,900,000
100,000		 1,900,000
100,000
Total designated funds 2,000,000 2,000,000
General funds 964,559 1,898,560 (1,744,422) 1,118,697
Total unrestricted funds 2,964,559 1,898,560 (1,744,422) 3,118,697
Total funds 2,964,559 1,898,560 (1,744,422) 3,118,697