# ## ## ## |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| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||fa '«
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I-| ## ## ## ## |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| ## ## ##