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← The Royal Artillery Centre For Personal Development

2024-07-31-accounts

Charity registration number 1111106

Company registration number 05454676 (England and Wales)

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr S W Bragg (Appointed 8 March 2024)
Major General R M Clements CBE
Mr S E Ellison
Mr N A Hopkins OBE (Appointed 19 September
2024)
Ms A J Storey
Secretary Mr M Collins
Senior management Claire Foxley Chief Executive (until 31
December 2024)
John Le Feuvre Operations Director (until 10
February 2024)
Moss Collins Interim Chief Executive (from
1 January 2025)
Charity number 1111106
Company number 05454676
Registered office Old Fire Station
Enterprise Centre
Salt Lane
Salisbury
Wiltshire
SP1 1DU
Independent examiner Moore (South) LLP
33 The Clarendon Centre
Salisbury Business Park
Dairy Meadow Lane
Salisbury
Wiltshire
SP1 2TJ
Bankers CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
WEst malling
ME19 4JQ
Nationwide Building Society
Kings Park Road
Moulton Park
Northampton
NN3 6NW
Solicitors Blake Morgan
New Kings Court
Tollgate, Chandlers Ford
Eastleigh
Hampshire
SO53 3LG

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

CONTENTS

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Page
Trustees' report 1 - 7
Independent examiner's report 8
Statement of financial activities 9 - 10
Balance sheet 11
Notes to the financial statements 12 - 22
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THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2024

The trustees present their annual report and financial statements for the year ended 31 July 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: 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)".

Objectives and activities

The Royal Artillery Centre for Personal Development operates as RACPD.

RACPD's Charitable Object is:

To promote the efficiency of the Armed Forces of the Crown and in particular the Royal Artillery by improving the competencies, performance, morale and retention of serving military personnel, MOD Civil Servants and support to veterans through involvement in nationally recognised education, training and vocational schemes.

RACPD's Mission is:

We provide outstanding personal and professional development to soldiers, dependents, and veterans, whether they are in early recruit or trade-training, mid-career, undergoing re-settlement or developing a second career. We want to enable better life opportunities for soldiers and their families.

The long-term Vision is that:

RACPD will inspire, encourage, challenge, and fully support learners and staff to achieve their best, We will be the provider of choice, delivering relevant programs of learning, aligning military skills with recognised civilian qualifications. We will increase our flexibility and reach through wider use online technology and to enable staff and learners to work remotely at a time/location that results in success. Income will be maximised by excellent learner and staff management whilst retaining a grade one experience and achievement.

Through our work, we will:

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Activities

We provide personal development support to soldiers and officers in the Royal Artillery. This enables them to:

The trustees review the aims, objectives, and activities of the Charity each year. This report looks at what the Charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the Charity has brought to those groups of people that it is set up to help.

This review also helps the trustees ensure the Charity's aims, objectives and activities remain focused on its stated purposes.

The trustees 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 its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Over the previous two years this report has included reference to Covid-19, the effects of which are no longer causing concern. However, the crisis in Ukraine continued to result in a larger than normal number of learner suspensions. Whilst timely and overall achievement rates are lower than last year, they remain outstanding and higher than national and overall Army rates.

Our Core Activities

Delivering Qualifications

One of the Charity's priorities is to increase the number of soldiers who achieve nationally recognised, transferable qualifications. These qualifications improve soldiers' promotion prospects within the Army and increase their chances of employment when they leave the Army.

We provide Information, Advice and Guidance to soldiers and dependents, regarding personal development and encourage the uptake of Standard Learning Credits and wider Army initiatives to support this. We also direct learners to approved training providers; including our own training subsidiary, Sheldrake Training Ltd and organise and deliver IOSH, SIA and First Aid qualifications via the TQUK network and suite of online courses.

Delivering Educational Support, Information, Advice and Guidance

The majority of our programs and advice are delivered within the workplace in regiments based in England. This removes the geographical barriers that exist for many remotely located soldiers who are unable to attend a Further Education College or travel to Larkhill to attend courses. RACPD employs staff to specifically provide apprenticeship and educational support and information, advice and guidance to soldiers and their dependents. These members of staff, known as Personal Development Advisors and Mentors (PDA/M), are embedded within some Royal Artillery regiments meaning they are uniquely placed to offer an accessible and flexible and consistent service to soldiers.

The Regimental Learning Centres, provide a unique and vital service to soldiers and their families. A range of courses, qualifications and Information, Advice and Guidance (IAG) are offered at flexible times to fit around soldiers' operational commitments.

The majority of our employees are former servicemen/women, or dependents of serving soldiers, who understand the culture and challenges those soldiers (our learners) face. This understanding of our beneficiaries' needs is vital to the success of the programs.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Achievements and performance

Significant activities and achievements against objectives

The three main lines of effort followed to achieve our Charitable Object are:

  1. Inspire, encourage and engender life-long learning

  2. Support and deliver relevant training, where possible linking military and civilian qualifications

  3. Deliver excellent information, advice and guidance (IAG).

This reporting year has seen RACPD continue to expand opportunities to promote life-long learning along with a concerted effort to get out to Units and brief both the chain of command and individuals alike. Whilst RACPD cannot provide IAG advisors in every unit, providing coverage to three main regions, via dedicated staff has been successful and helps to mitigate the lack of embedded staff in every location.

The annual RA Awards are conducted in October, and this provides an excellent opportunity to recognise and reward the achievements of our learners over the course of the year. A suite of specific RACPD Personal Development Awards, (Learner of the Year, Trainer of the Year, Supporter of the Year and PD Unit of the Year) are sponsored, judged and administered by RACPD in concert with the Regimental Headquarters Royal Artillery, (RHQRA). The combination of cash prizes, wide publicity and attendance at the award ceremony is a potent method of promoting life-long learning to soldiers and officers of all ages.

RACPD regularly attend Unit Army Leadership and Development Programme (ALDP) training for potential JNCOs, and this provides another opportunity to link the military curriculum with civilian qualifications via the Army Accreditation Offer. These courses are supported by briefings from RACPD staff, as are intakes of Phase 2 recruits into 24 Irish Bty RA, regular unit briefings and an enduring commitment to brief each new intake of RA Young Officers during the YO’s Course, also held at the Royal School of Artillery.

Financial review

The charity’s loss of the army apprenticeship contract and the Wiltshire College contract meant that operational income dropped significantly compared to the previous 12 months. However, running costs were also proportionally reduced when staff and some non staff costs were assumed by The College Partnership under TUPE.

The surplus before gains on investments of £43.6k is an improvement on the deficit for the previous year (2023 - £359k). The charity has benefitted from income from its trading subsidiary, Sheldrake Training Limited, of £120k, return on investments of £184k, and a new restricted funding stream from the Armed Forces Covenant Fund of £25k. With good budget management, this meant that the value of funds increased by £208k in the financial year 23/24 compared to the previous year’s loss of £416k.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Reserves policy

The trustees' reserves policy takes into account the following factors:

The trustees have assessed the level of reserves needed to meet specific requirements and have chosen to invest those reserves to build capital and ensure that charitable activities can continue to take place. Such activity includes allocations of money to enable personal development resources and staging of events but also maintenance of a small number of staff in regiments to support the wider educational advice and guidance.

Trustees believe the charity is a going concern, for the purposes of approving the annual report and statutory accounts, having reasonable expectation that it can continue to operate for at least 12 months from the date signing the accounts, and that there are no material uncertainties in this regard. In practice, the charity's total reserves remain high at approximately £2.2million all of which is unrestricted. £1.85million is held in investments and £160,000 in cash. This is more than sufficient to support the charitable activities planned over the next two to three years and whilst the trading subsidiary builds its reputation and ability to provide sufficient funding to cover all RACPD costs, after the loss of the RA apprenticeship contract referred to below. This also allows sufficient buffer should business continuity issue arise.

Investment policy

Investment powers are governed by the memorandum and articles of association and permit the Charity's funds to be invested in any way the trustees wish. The Board keeps its investment strategy under constant review.

Major risks

The significant risks to which the Charity is exposed fall into two categories – those macro risks which are largely outside its control and those micro risks which are, at least to some extent, within its operational control. The main external macro risks are derived from the apprenticeship contract which include loss of the contract, changes in government and Army apprenticeship policy and funding, including the lower RA recruiting/allocation figures, and the consequent changes in income, and the implications of the Ukraine crisis. The micro-risks include learners attending and achieving Functional Skills which have increased in length and difficulty, recruiting suitably qualified and experienced staff, maintaining learners on program in a fast-moving environment and the effects of new standards with the requirement for End Point Assessment.

All risks are reviewed regularly by the senior management team and wherever possible risks are mitigated or managed within routine business. A risk register is maintained for scrutiny by the Board of Trustees every six months, albeit the senior management team review it more regularly. There is little by way of mitigation for the macro risks until the full implications of an ongoing Ukraine campaign and British Army assistance becomes clearer, and RA recruiting returns to ‘normal’ levels. Micro risks are mitigated against through normal routine procedures such as monitoring and regular reviews.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

Plans for future periods

Noting the reduction in staff levels since losing the Army Apprenticeship Contract, RACPD only retain one permanent IAG advisor in the North of England, based in Catterick Garrison, serving 3RHA, 4RA and 5RA; one in the South of England, based in Plymouth, serving 29 (Cdo) RA, 12RA and 16RA. The remaining units based in our Central region, based around Larkhill are served by members of staff based at RACPD HQ.

Future planning seeks funds from the reserve, authorised by the RACPD trustees, to develop and deploy a modern web-based site with increased functionality, live and virtual chat function and a forum for dispersed units to access 24/7. This will mitigate the lack of embedded staff until such time as the training subsidiary can generate sufficient profit to support reinstalling IAG staff in regiments.

Structure, governance and management

The Charity is governed by trustees, who are also the members.

The Board remains an appropriately sized forum to ensure a good range of relevant expertise and to enable timely decision-making. The trustees hold three Board meetings each year which is sufficient to review operational business as well as an AGM which reviews performance over the whole year.

In addition, in a normal year they meet in May for development and appraisal, and to discuss strategy in an unrestricted forum. The number of meetings, their format and timings provide sufficient opportunity to review and update the strategy and to oversee and assure performance on a quarterly basis. Meetings this year were held face to face, including the AGM.

The trustees delegate operational control, including full management of staff, to the Chief Executive (Claire Foxley) who is directly supported by the Director of Operations (John Le Feuvre). John Le Feuvre was replaced as Operations Director in February 2024 by Moss Collins who became the Executive Officer (XO).

They are supported by three heads of department (MIS, Teaching & Learning and Quality) who together constitute the Senior Management Team.

The Board nominates individual trustees to hold responsibility for key regulatory matters: Health & Safety; Safeguarding; Data Protection; Equality & Diversity and Security. The Board has three committees: Audit; Finance and Remuneration. The Chair of each committee holds Board responsibility for those specific matters.

The Board decides the Charity's strategy, which is reviewed each year in May/June. Additionally, in Q3, Trustees endorse the Chief Executive's annual Business Plan, which sets out the forthcoming income and expenditure budgets for the next academic year. The Board has endorsed a scheme of delegation in which the trustees delegate limited spending authority to the Chief Executive, while retaining authority to spend single amounts not exceeding £60,000.

The trustees also retain authority to appoint (executive) directors.

The organisation is a charitable company limited by guarantee, incorporated on 17 May 2005, and registered as a charity on 31 August 2005 with articles amended on 24 February 2014. The company was established under a memorandum of association, which established the Objects and powers of the charitable company and is governed under its articles of association.

All trustees give their time voluntarily and receive no benefits from the Charity.

Any expenses reclaimed from the Charity are set out in the notes to the accounts.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr S W Bragg (Appointed 8 March 2024) Major General R M Clements CBE Mr S E Ellison Mr N A Hopkins OBE (Appointed 19 September 2024) Ms A J Storey Mrs T Alexander (Resigned 25 September 2024) Mr B N Budd OBE (Resigned 19 September 2024) Colonel O J Adams (Resigned 8 March 2024) Colonel M Dornan (Resigned 8 March 2024) Mr T Jackson (Resigned 8 March 2024) Mr J Knowles (Resigned 8 March 2024) Mr A Assad (Resigned 16 November 2023) Colonel C Palmer (Resigned 8 March 2024)

Recruitment and appointment of trustees

The memorandum provides for eleven trustees, of which two are serving in the Royal Artillery (RA) and four as Army officers in Staff appointments outside of the RA (but all ex-Gunners). The serving trustees are directly linked to their military roles, which is on the basis that those roles command or train the Charity's beneficiaries. These 'military' trustees are only appointed as trustees for the duration of their specific military role, normally two years.

The memorandum was updated in this year to include two serving non-commissioned officer positions and amended so that trustees may now serve two tenures of three years. Those holding the position of committee chair or with extensive experience in a specialist area may be retained for a further three-year rotation.

A skills scan is conducted periodically to identify the skills gap among trustees so that new trustees may be recruited to provide the missing skills and experience. Such trustees are found either through recruitment via charity trustee organisations, or local networking. As a result, the Board recruited two serving soldiers as "former learners".

The Board conducts a biannual analysis of their effectiveness, using the Cobseo Governance Tool. This gave an overall green rating with some minor considerations for improvement, mainly around trustee responsibilities. These will be acted upon during the next AY.

Induction and training of trustees

All trustees attend an induction briefing before their first Board meeting. The induction, which is preceded by receipt of a comprehensive information pack, is led by the Chief Executive, who with the Operations Director, briefs the new trustee on the organisational structure, strategic plan, current business plan, operations, and forthcoming initiatives.

This is followed by a governance briefing by the Board Secretary on the trustee's responsibilities as a company director and trustee. The briefing includes details of when and how the Board meetings are held. New trustees are appraised of their specific Board responsibilities via committee membership (Audit / Finance / Remuneration) and / or Board lead on regulatory matters such as Health & Safety, Safeguarding, Data Protection, Security, or Equality & Diversity.

During this induction, and at subsequent events, the trustees meet key RACPD staff.

Remuneration policy

The Remuneration Committee endorses the pay policy and takes advice from the Chief Executive on any cost-ofliving increases in salary. These are then recommended to the Board for endorsement once the Finance Committee has agreed affordability. Changes in salary are normally effective from the start of the Financial Year on 1 August and salaries are benchmarked against the Charity, Further Education, and public sectors.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

The trustees' report was approved by the Board of Trustees.

Major General R M Clements CBE Trustee

13 March 2025

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

I report to the trustees on my examination of the financial statements of The Royal Artillery Centre for Personal Development (the charity) for the year ended 31 July 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Robert MacDonald Moore (South) LLP

33 The Clarendon Centre Salisbury Business Park Dairy Meadow Lane Salisbury Wiltshire SP1 2TJ

Dated: 28 March 2025

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

Unrestricted Unrestricted
Restricted
funds
funds
funds
general designated
2024
2024
2024
Notes
£
£
£
Income from:
Donations and legacies
2
120,188
-
-
Charitable activities
3
255,548
-
-
Other trading activities
4
53,777
-
25,550
Investments
5
40,511
-
-
Total income
470,024
-
25,550
Expenditure on:
Charitable activities
6
426,854
-
1,625
Other expenditure
10
(445)
-
-
Total expenditure
426,409
-
1,625
Net gains/(losses) on investments
11
141,056
-
-
Net income/(expenditure) and movement in funds
184,671
-
23,925
Reconciliation of funds:
Fund balances at 1 August 2023
50,412
2,000,000
-
Fund balances at 31 July 2024
235,083
2,000,000
23,925		 Total
Unrestricted Unrestricted
funds
funds
general designated
2024
2023
2023
£
£
£
120,188
-
-
255,548
1,258,449
-
79,327
92,675
-
40,511
19,657
-
495,574
1,370,781
-
428,479
1,730,256
-
(445)
-
-
428,034
1,730,256
-
141,056
(56,772)
-
208,596
(416,247)
-
2,050,412
466,659
2,000,000
2,259,008
50,412
2,000,000		 Total
2023
£
-
1,258,449
92,675
19,657
1,370,781
1,730,256
-
1,730,256
(56,772)
(416,247)
2,466,659
2,050,412

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

BALANCE SHEET

AS AT 31 JULY 2024

Notes
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
17
Unrestricted funds - general
19
Unrestricted funds - designated
18		 2024
£
£
7,467
1,850,871
1,858,338
285,863
157,412
443,275
(42,605)
400,670
2,259,008
23,925
235,083
2,000,000
2,259,008		 2023
£
£
15,959
1,679,958
1,695,917
360,858
55,880
416,738
(62,243)
354,495
2,050,412
-
50,412
2,000,000
2,050,412		 2023
£
£
15,959
1,679,958
1,695,917
360,858
55,880
416,738
(62,243)
354,495
2,050,412
-
50,412
2,000,000
2,050,412
1,695,917
354,495
2,050,412
-
50,412
2,000,000
2,050,412

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 13 March 2025

Major General R M Clements CBE

Trustee

Company registration number 05454676 (England and Wales)

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

Charity information

The Royal Artillery Centre for Personal Development is a private company limited by guarantee incorporated in England and Wales. The registered office is Old Fire Station, Enterprise Centre, Salt Lane, Salisbury, Wiltshire, SP1 1DU.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Portacabin 4 years
Fixtures and fittings 5 years
Computers 3 years
Motor vehicles 4 years
Online learning portal 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 120,188 -

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

3 Income from charitable activities

Unrestricted Unrestricted Unrestricted
funds funds
2024 2023
£ £
Army Apprenticeship
Income 131,566 1,168,328
Educational Training
Income 123,982 90,121
255,548 1,258,449
Income from other trading activities
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Training and other
income 53,777 25,550 79,327 92,675 - 92,675

4 Income from other trading activities

5 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Income from listed investments 38,657 19,657
Interest receivable 1,854 -
40,511 19,657

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

6 Expenditure on charitable activities

Army
Apprenticeship
Educational
Training
Governance
costs
2024
2024
2024
£
£
£
Direct costs
Staff costs
176,524
11,033
30,892
Depreciation and impairment
7,862
491
1,376
Registration fees
15,222
951
2,664
External trainers
36,186
2,262
6,333
PD Grants
14,036
877
2,456
Marketing & PD Promotion
5,567
348
974
Other
3,934
246
689
Motor expenses
10,710
669
1,874
Insurance
10,669
667
1,867
Professional fees
9,529
596
1,667
Trustees' meetings and expenses
898
56
157
Travel and subsistence
8,448
528
1,478
Resources
7,941
496
1,390
IT Support
24,428
1,527
4,275
Development Projects
783
49
137
Army covenant grant
1,625
-
-
Donations
440
28
77
Other charitable expenditure
8,306
519
1,454
343,108
21,343
59,760
Analysis by fund
Unrestricted funds - general
341,483
21,343
59,760
Restricted funds
1,625
-
-
343,108
21,343
59,760		 Support
costs
2024
£
2,207
98
190
452
175
70
49
134
133
119
11
106
99
305
10
-
6
104
4,268
4,268
-
4,268		 Total
2024
£
220,656
9,827
19,027
45,233
17,544
6,959
4,918
13,387
13,336
11,911
1,122
10,560
9,926
30,535
979
1,625
551
10,383
428,479
426,854
1,625
428,479

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

6
Expenditure on charitable activities
Previous year:
Army
Apprenticeship
Educational
Training
Governance
costs
2023
2023
2023
£
£
£
Direct costs
Staff costs
1,053,335
65,833
13,167
Depreciation and impairment
12,953
810
162
Registration fees
35,147
2,197
439
External trainers
38,099
2,381
476
PD Grants
12,744
796
159
Marketing & PD Promotion
19,131
1,196
239
Other
27,043
1,690
338
Motor expenses
18,002
1,125
225
Insurance
7,928
495
99
Professional fees
13,476
842
168
Trustees' meetings and expenses
4,202
263
53
Travel and subsistence
26,397
1,650
330
Resources
62,046
3,878
776
IT Support
27,566
1,723
345
Development Projects
26,136
1,634
327
1,384,205
86,513
17,303
Analysis by fund
Unrestricted funds - general
1,384,205
86,513
17,303
7
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
Profit on disposal of tangible fixed assets		 (Continued)
Support
costs
Total
2023
2023
£
£
184,334
1,316,669
2,267
16,192
6,151
43,934
6,667
47,623
2,230
15,929
3,348
23,914
4,733
33,804
3,150
22,502
1,387
9,909
2,358
16,844
735
5,253
4,619
32,996
10,858
77,558
4,824
34,458
4,574
32,671
242,235
1,730,256
242,235
1,730,256
2024
2023
£
£
9,827
16,423
(445)
-		 (Continued)
Support
costs
Total
2023
2023
£
£
184,334
1,316,669
2,267
16,192
6,151
43,934
6,667
47,623
2,230
15,929
3,348
23,914
4,733
33,804
3,150
22,502
1,387
9,909
2,358
16,844
735
5,253
4,619
32,996
10,858
77,558
4,824
34,458
4,574
32,671
242,235
1,730,256
242,235
1,730,256
2024
2023
£
£
9,827
16,423
(445)
-
1,730,256
1,730,256
2023
£
16,423
-

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

9 Employees

The average monthly number of employees during the year was:

Army Apprenticeship
Training Courses
Support
Total
Employment costs
Wages and salaries		 2024
Number
8
3
5
16
2024
£
220,656		 2023
Number
35
5
5
45
2023
£
1,316,669

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The total employee benefits (including employer national insurance and employer pension contributions) of the key management personnel were £100,880 (2023: £178,416).

10 Other expenditure

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net loss on disposal of tangible fixed assets (445) -
Gains and losses on investments
Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 138,629 (56,772)
Sale of investments 2,427 -
141,056 (56,772)

11 Gains and losses on investments

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

13
Tangible fixed assets
Cost
At 1 August 2023
Additions
At 31 July 2024
Depreciation and
impairment
At 1 August 2023
Depreciation charged in the
year
At 31 July 2024
Carrying amount
At 31 July 2024
At 31 July 2023		 Portacabin
Fixtures and
fittings
£
£
79,236
20,550
-
-
79,236
20,550
79,236
20,550
-
-
79,236
20,550
-
-
-
-		 Computers
£
184,031
1,335
185,366
174,632
5,016
179,648
5,718
8,362		 Motor
vehicles
Online
learning portal
£
£
46,730
331,520
-
-
46,730
331,520
46,730
324,960
-
4,811
46,730
329,771
-
1,749
-
7,597		 Total
£
662,067
1,335
663,402
646,108
9,827
655,935
7,467
15,959

14 Fixed asset investments

Listed
investments
Other
investments
£
£
Cost or valuation
At 1 August 2023
1,679,957
1
Additions
73,056
-
Valuation changes
171,715
-
Disposals
(73,858)
-
At 31 July 2024
1,850,870
1
Carrying amount
At 31 July 2024
1,850,870
1
At 31 July 2023
1,679,957
1
2024
Other investments comprise:
Notes
£
Investments in subsidiaries
22
1		 Total
£
1,679,958
73,056
171,715
(73,858)
1,850,871
1,850,871
1,679,958
2023
£
1

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

14
Fixed asset investments
Investments at fair value comprise:
UK Common investment funds
Listed investments
Cash
Investments in subsidiary company
15
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by subsidiary undertakings
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 (Continued)
2024
2023
£
£
650,153
(609,154)
1,147,633
(1,046,618)
53,084
24,185
1
1
1,850,871
1,679,958
2024
2023
£
£
29,438
227,193
242,833
125,917
13,592
7,748
285,863
360,858
2024
2023
£
£
12,368
30,354
9,207
22,015
1,061
6,943
19,969
2,931
42,605
62,243

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 August Incoming Resources At 31 July
2023 resources expended 2024
£ £ £ £
- 25,550 (1,625) 23,925

The restricted fund is a grant received from Armed Forces Covenant Fund specifically for the purpose of delivering career development to army personnel and their families whether that be to support confidence or directly access suitable training.

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

18 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities.

At 1 August At 31 July
2023 2024
£ £
Strategic funds 1,900,000 1,900,000
Facilities funds 100,000 100,000
2,000,000 2,000,000
Previous year: At 1 August At 31 July
2022 2023
£ £
Strategic funds 1,900,000 1,900,000
Facilities funds 100,000 100,000
2,000,000 2,000,000

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August Incoming Resources Gains and At 31 July
2023 resources expended losses 2024
£ £ £ £ £
General funds 50,412 470,024 (426,409) 141,056 235,083
Previous year: At 1 August Incoming Resources Gains and At 31 July
2022 resources expended losses 2023
£ £ £ £ £
General funds 466,659 1,370,781 (1,730,256) (56,772) 50,412

THE ROYAL ARTILLERY CENTRE FOR PERSONAL DEVELOPMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

20 Analysis of net assets between funds

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2024
2024
2024
£
£
£
At 31 July 2024:
Tangible assets
7,467
-
-
Investments
39,776
1,811,095
-
Current assets/(liabilities)
187,840
188,905
23,925
235,083
2,000,000
23,925
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
£
£
£
At 31 July 2023:
Tangible assets
15,959
-
-
Investments
1
1,679,957
-
Current assets/(liabilities)
34,452
320,043
-
50,412
2,000,000
-		 Total
2024
£
7,467
1,850,871
400,670
2,259,008
Total
2023
£
15,959
1,679,958
354,495
2,050,412

21 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

22 Subsidiaries

The charitable company owns the whole of the issued ordinary share capital of Sheldrake Training Limited, a company registered in England and Wales ( company number: 10070090). The subsidiary is used for nonprimary purpose trading activities. Available profits are distributed under Gift Aid to the charitable company.

Details of the charity's subsidiaries at 31 July 2024 are as follows:

Name of undertaking Registered Nature of business Class of % Held
office shares held Direct Indirect
Sheldrake Training Limited Training provider 100.00

23 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.