2024-03-31-accounts - Hoplite Fund

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Service Non Public Funds Final Accounts, Managing Trustee's Report, Internal Audit Board Report and Independent Examiner's Report (SORP 2005 compliant) Regimental Accountant Scheme

Army Form N1514 (Rev 11/09)

Unit:

Address:

In Respect of the HOPLITE

Fund/Charity

Charity Commission/Regulator registered number 1116376

For the period from 01-Apr-23 to 31-Mar-24

Managing Trustee(s) during the period:

From	01-Apr-2023	to	03-Jun-2023	Name

From	04-Jun-2023	to	31-Mar-2024	Name

Fund Manager(s) during the period:

From	to	Name

From	to	Name

From	to	Name

Associate Auditor(s) during the period:

Associate Auditor	N/A

Associate Auditor

Associate Auditor

Regimental Accountant(s) during the period:

From	01-Apr-2023	to	30-Nov-2023	Name

From	01-Dec-2023	to	31-Mar-2024	Name	C

From		to		Name

From		to		Name

Notes to the accounts (Paras 2 to 12 are to be completed by all funds which have a gross income of £100K or over and those funds already registered with the Charity Regulator, all other funds are to complete Paras 6 and 7 and the declarations at Para 12):

1. Principal Accounting Policies

a. Accounting Convention. The financial statements are prepared under the historical cost convention as modified by the inclusion of investments at market value and in accordance with applicable accounting standards. In preparing the financial statements the charity follows best practice as set out in the Statement of Recommended Practice "Accounting and reporting by Charities" (SORP) 2005 (http://www.charitycommission.gov.uk/investigations/sorp/sorp05docs.asp)

b. Incoming Resources. Income is recognised in the period in which the charity is entitled to receipt, and the amount can be measured with reasonable certainty. Grants from other agencies including donations and other income from activities are in furtherance of the charity's objects and are part of the general funds of the charity. A restricted fund is only recognised where this is an agreed and explicit condition of the grant or donor.

c. Intangible Income. Due to the close collaborative relationship and the manner in which the charity's activities compliment those of the Army, intangible income, reflected in time and use of premises is not quantifiable or measurable and so is not recognised in the accounts.

d. Resources Expended and Basis of Allocation of costs. Expenditure is included when incurred or exceptionally where a commitment is made which requires an accrual when payment is to be made in the subsequent accounting period. Similarly, where prepayments are made in recognition of commitments falling due in a subsequent accounting period, the appropriate credit is entered in the accounts and reversed the following year. Grants payable are included in the SOFA when approved by the Managing Trustee. Expenditure is recognised in the period in which it is incurred. The majority of costs are directly attributable to specific activities. Irrecoverable VAT is charged to the annual report and accounts.

e. Governance Costs. Governance costs are the costs of professional advice, holding trustee meetings or committee meetings associated with decision making, any fee for audit or independent examination and any fee incurred in the preparation, statutory filing, printing or copying of the annual report and accounts.

f. Capitalisation and Depreciation of Tangible Fixed Assets. All assets having a purchase value of more than £500 are capitalised. The cost of tangible fixed assets are written off by equal annual instalments over their expected useful lives using the following methods of depreciation:

Furniture, fixtures and equipment - Straight Line over a period of 2 - 10 years. Motor vehicles - Straight Line over a period of 2 - 10 years.

Assets with a life of more than one year but with a purchase value of below £500 are included within the inventory but the cost is written off in the year it is incurred and is not depreciated over the useful life of the asset. Where the asset is depreciated over a period of more than 10 years, details of the item and period are to be provided following the notes on page 13.

g. Fixed Asset Investment. Fixed asset investments are included at market value at the balance sheet date. Any gain or loss on revaluation is shown in the Statement of Financial Activities (SOFA) on page 2.

h. Stocks. Purchased stocks are valued at the lower cost or net realisable value making due allowance for any obsolete or slow-moving items.

i. Funds Accounting. Funds held by the charity are:

(1) General Purpose/Unrestricted/Designated Funds. These are funds that can be used in accordance with the charitable objects at the discretion of the Managing Trustee. Designated funds are unrestricted funds which have been allocated/earmarked for a particular purpose by the Managing Trustee and are to be declared in the Managing Trustee's comments in accordance with Para 12 to these notes stating what they are intended to be used for and when.

(2) Endowment Funds. Endowment funds are those investments and other gifts accepted by the unit, the capital sum or property being held in perpetuity and the income only being available for charitable use.

(3) Restricted Funds. These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is to be included in the notes to the accounts.

j. Heritage Assets. In the course of the unit's history, the charity may have acquired gifts, memorabilia, regalia, silverware, antiques and other historical artefacts in the course of distinguished military service in service of the Crown. The value of these pieces is in large part derived from their close association with Regimental history which precludes the use of conventional valuation techniques being applied. Whilst the objects of the charity do not specifically include preservation and conservation, the pieces represent an essential element of celebrating the unit's history and foster esprit-de-corps. Consequently the Managing Trustee considers the charity to hold heritage assets both for functional use and as an element of national history on behalf of the nation. Heritage assets acquired prior to 1 Apr 06 are therefore not capitalised on the balance sheet but a description of those assets is disclosed as part of the notes to the accounts. Heritage assets acquired after 1 Apr 06 where the purchase price is known and which exceed £500.00 are included in the balance sheet at acquisition value but are not depreciated.

k. Other Costs. Other costs are those costs not incurred in the undertaking of charitable activity in furtherance of the objects of the charity, i.e. the provision of facilities, recreational programmes or activities in furtherance of military efficiency. They are also costs incurred in the making of grants and donations, in the costs of generating funds, i.e. the costs incurred in trading or fundraising undertaken by the charity, or in governance costs.

Grants Made. (if total grants are over 5% of the charity's total expenditure).

The charity made the following grants/donations:

Grants to institutions

Grants to institutions
Name of institutions	Purpose	Total number of grantsgiven	Total amount of grantspaid
		0	0.00
		0	0.00
		0	0.00
		0	0.00
		0	0.00
Total grants to institutions		0	0.00
Grants to individuals
Purpose		Total number of grantsgiven	Total amount of grantspaid
Various		23	£28,417.18
		0
		0
		0
		0
		0
		0
		0
Tot		al 0	£28,417.18

3. Related Party Transactions & Remuneration and Expenses

Whilst the charity has a close working relationship with the Army, there are no transactions with the Army which require disclosure under SORP 2005. The only transactions made by the charity in favour of the unit are wholly attributable to the charitable activities of furthering military efficiency. The Managing Trustee is an officer or equivalent and fulfils the role as trustee in accordance with the applicable laws and regulations. No expenses have been paid to the trustee. In the event that expenses have been paid to the trustee these are disclosed under the Managing Trustee's comments.

4. Analysis of Capital Property

	Fixtures fittings & equipment £	Motor vehicles £	Total £
Balance b/f	0.00	0.00	0.00
Purchases	0.00	0.00	0.00
Sales & W/Os	0.00	0.00	0.00
Depreciation	0.00	0.00	0.00
Balance c/f	0.00	0.00	0.00

Total Value of Investments by Category

	Value £
Carryingvalue(market value at beginningofyear	593,741.32
Add additions to investments at cost(investmentspurchased)	-
Less disposals at carryingvalue(investments sold)	-
Add/(deduct) net gain/(loss) on revaluation (gain/loss at end of accounting period/audit)	(-)4,800.24
Carryingvalue(market value)at end ofyear	588,941.08

Breakdown of Market Values at

Year End	GPF/ Unrestricted	Restricted	Endowment	Total value	Income during year
	Value £	Value £	Value £	Value £	Value £
Investment properties	0.00	0.00	0.00	0.00	0.00
Investments listed on a recognised stock exchange	0.00	0.00	0.00	0.00	0.00
Investments held in unit trusts or other collective investment schemes	0.00	0.00	0.00	0.00	0.00
Investments in subsidiary or connected undertakings and companies	0.00	0.00	0.00	0.00	0.00
Securities not listed on a recognised stock exchange	0.00	0.00	0.00	0.00	0.00
Cash held as part of the investment portfolio	588,941.08	0.00	0.00	0.00	0.00
Other investments	0.00	0.00	0.00	0.00	0.00
Total	0.00	0.00	0.00	0.00	0.00

6. List of Debtors

Debtor	Date of Debt	Amount
N/A	N/A	0.00
N/A	N/A	0.00
Total		0.00

There are no amounts falling due after more than one year (delete as appropriate).

7. List of Creditors

Creditor	Date of Credit	Amount
N/A	N/A	0.00
N/A	N/A	0.00
N/A	N/A	0.00
N/A	N/A	0.00
Total		0.00

There are no amounts falling due after more than one year (delete as appropriate).

Paid Employees

	Thisyear £	Lastyear £
Gross wagespaid	0.00	0.00
Employer's National Insurancepaid	0.00	0.00
Pension Contributionspaid	0.00	0.00
Total staff costs Give the number of employees who were engaged in each of the following activities:	0.00	0.00

	Thisyear £	Lastyear £
Costs ofgeneratingfunds	0.00	0.00
Charitable activities	0.00	0.00
Other	0.00	0.00
Total	0.00	0.00

No individual employee received a salary of over £60,000.00

9. Governance Costs

	Thisyear £	Lastyear £
Audit or independent examination fee	0.00	0.00

10. Restricted/Endowment Funds

Give details of the movements of the individual funds summarised in the restricted and endowment column of the Statements of Financial Activities (SOFA). FUND RETURN SUMMARY ATTACHED

See attached SOFA

f Restricted Fund	f Restricted Fund	Fund Bal B/F	Income Resource	OutgoingResource	Transfers	Gain and Losses	Fund Bal C/F
R001	CHARITY DINNER NIGHT	£ 60,242.00	£ 320,004.29	£ 323,016.29	£ -	-£3,012	£ 57,230.00
R007	WELL-BEING	£ -	£ 2,000.00	£ 1,810.00	£ -	£ 190.00	£ 190.00
R008	WELL-BEING	£ -	£ 2,000.00	£ 2,000.00	£ -	£ -	£ -
R009	WELL-BEING	£ 1,000.00	£ 1,000.00	£ 1,200.00	£ -	-£200	£ 800.00
R010	WELL-BEING	£ -	£ 2,000.00	£ 1,000.00	£ -	£ 1,000.00	£ 1,000.00
R011	WELL- BEING	£ -	£ 2,000.00	£ 1,650.00	£ -	£ 350.00	£ 350.00
R012	WELL-BEING	£ 500.00	£ 1,500.00	£ -	£ -	£ 1,500.00	£ 2,000.00
R013	WELL-BEING	£ 1,000.00	£ 1,000.00	£ -	£ -	£ 1,000.00	£ 2,000.00
R023	WELL-BEING	£ 421.67	£ 1,065.00	£ 320.00	£ -	£ 745.06	£ 1,166.73
R024	CHARITY GOLF DAY	£ -	£ 56,685.39	£ 34,738.04	£ -	£ 21,947.35	£ 21,947.35

A brief explanation as to the nature and purpose of the charity's Restricted Funds is to be provided.

Name of Restricted Fund	Name of Restricted Fund	Name of Restricted Fund	Name of Restricted Fund	Purpose of fund	Purpose of fund	Purpose of fund	Purpose of fund
R001	CHARITY DINNER NIGHT			For annual HOPLITE CharityTrustees Dinner
R007		WELL-BEING		For thegood and benefit of		Sqn members
R008		WELL-BEING		For thegood and benefit of		Sqn members
R009		WELL-BEING		For the good and benefit of		Sqn members
R010		WELL-BEING		For thegood and benefit of		Sqn members
R011		WELL- BEING		For the good and benefit of			qn members
R012		WELL-BEING		For thegood and benefit of			Sqn members
R013		WELL-BEING		For thegood and benefit of			Sqn members
R023			WELL-BEING	For the good and benefit of	RHQ members
R024	CHARITY GOLF DAY			For Annual Golf Charityday

11. Heritage Assets

Heritage assets that are owned by the charity but purchased/acquired prior to 1 Apr 06 are not included in the charity's capital property value (see note 1.j). A list/description of these assets is below:

12. Declarations

All of the charity's commitments are provided for in the accounts.

No guarantees have been given to third parties.

The charity has not received any loans that are outstanding at the year-end and secured on assets.

The charity has not granted any loans to institutions or companies connected with the charity.

The charity did not make any ex-gratia payments during the year.

Sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with the restrictions imposed.

The financial activities, assets and liabilities of all the charity's branches or sections have been included.

The trustees have not changed the year end date or the length of the charity's financial year.

The charity has no designated funds (if there are designated funds the reason for designation and when each designated fund is intended to be used by is to be stated in the Managing Trustee's report).

All the charity's operations are continuing operations and there were no operations discontinued or acquired during the year.

No funds (unrestricted, designated, restricted or endowment) are in deficit at the balance sheet date.

The charity has no intangible assets.

There were no inter-fund loans outstanding at the balance sheet date.

None of the charity's functional fixed assets have been re-valued during the year and the charity does not have a policy of revaluation of these assets.

The charity has no subsidiary companies.

The charity has no material fixed assets which have not been capitalised and included in the balance sheet.

No internal transfers have occurred out of restricted/endowment funds. In the event that a transfer has taken place, full details of the reason for the transfer are disclosed in the Managing Trustee's comments.

All investments held are investment assets in the UK unless otherwise stated.

Note: Where any of the declarations are not correct they are to be crossed out and details provided in the Managing Trustee's comments.

Additional comments:

I am content that the HOPLITE charity Fund is being managed correctly in line with policy throughout FY 23/24. A significant charity event happens each year allowing us to grow this charity in addition to external donations. We envisage this charity to continue to grow exponentially and are exploring a paid secretary.

I have reviewed the fund and the IA comments and I am content with the increase in balance by £177,995,89. As FM I will contact the Investment manager to assess our minor losses in the investment portfolio over the course of the year .

Signature ______

Name Maj

Date: ________

Fund Manager (Regimental Accountant Scheme)/Account Holder (Audit Board Scheme)

Managing Trustee's Annual Report and Comments:

Unit MAB 1

Address

In Respect of the HOPLITE FUND

Fund/Charity

Charity Commission/Regulator registered number 712316

Description of the charity's trusts

This should include:

a. Details, including date if known of the charity's governing document (e.g. trust deed, will, constitution etc): and

b. A brief explanation of the charity's objects.

Where applicable, you may choose to give details of any specific investment powers of the charity.

Governing Document (e.g. Trust Deed, Constitution)	Service Fund Regulations. Constitution Dated 01 Mar 16. Regimental Standing Orders QueensRegulations1975

Objects of the Charity	The promotion and efficiency of the Armed Forces of the Crown by the provison and support of facilities and activities for the efficiency and well-being of Service Personnel.

Explain briefly how trustees are elected or appointed and details of any induction and trustee training attended.

attended.
Trustee selection method	Managing Trustee selected on appointment as Commanding Officer.

Trustee induction and training	The Managing Trustee has attended the Commanding Officer (Designate) Course. The Senior Fund Manager is required to complete the FM e-learning Course which is hosted on the DLE within 1 month of assumingthe appt.

Explain about what the charity is trying to do and how it is going about it. You are only required to provide a brief summary of the main activities and achievements of the charity during the year in relation to its objects.

objects.
Summary of main activities in relation to the Charity's objects	To provide all members (past, current and future) of with a charitable fund that delivers support to welfare and cohesive activities.
Summary of main achievements of the Charity during the year	The Charity Dinner returned this year and has helped increase the money available within the GPF. The Charity Raising money that was tied into the PayPal account for has now been received which has aided the utility of the Fund.

Provide a brief review of the financial position of the charity. This should include the principle types of income.

Financial Review	The Fund is still reliant on the Income from the annual Charity Dinner Night, any Fund Raising Activities, Grants and Donations as well as that of the managed Investment Protfolio. These are the principle types of income for the Hoplite Fund.

The Managing Trustee should give in their report a description of the following policies:

a. For the selection of investments for the charity. b. For determining the level of income reserves held, stating and explaining the level of reserves held.

c. Where grants are made by the charity, the selection of individuals and institutions who are to receive grants out of the assets of the charity.

Financial reserves policy	No Reserves policy for this Fund at present.

Investments selection policy and performance of those investments	The Hoplite Fund has an Investment Portfolio this is managed by Charles Stanley & Co Ltd. The portfolio is a Medium

Provide the name of all trustees/the Managing Trustee(s) during the report year.

Managing Trustee's name/trustees' names	Lt Col

Serious Incidents	Nil.

Public Benefit Statement	This fund provides public benefit by assisting service personnel to more effectively perform their roles within the Armed Forces of the Crown. This assistance enables service personnel to face the challenges and danger associated with military service by developing and maintaining teamwork; skills; fitness; confidence, character, spirit and attitude; and morale*. As a result the fund promotes the efficiency of the Armed Forces of the Crown by enhancing the British Army’s capability to undertake the roles demanded of it including the defence of the United Kingdom and its interests. I confirm that I have paid due regard to the Charity Commission of England and Wales’s guidance on public benefit when deciding what activities the charity should undertake.

*delete as appropriate.

Additional comments (include any declarations which were not correct (Pg 12/13)):

The HOPLITE charity is slowly becoming the heartbeat of the Regt. Its ability to support our people is invaluable and increasing. I am content that the FM manager is co-ordinating and assuring all fund requests and this is highlighted through our quarterly management meeting with our trustees.

I have instructed a review of our Governing Document and Constitution in line with the Charity Commission policies. A new paid secretary will be in place for the next year of accounts and this will be reflected in the next set of accounts.

I would like a review of our investments which I have instructed my FM to pursue with our Investment manager.

Signature

Name Lt Col

Date: ________ Appointment Commanding Officer

Internal Auditor's/Audit Board Report

I ~~/We~~ have examined the books of account and records from which the final accounts were prepared and have obtained all the information and explanations that were necessary for the purpose of my ~~/our~~ internal audit.
*I ~~/We~~ certify that end of period checks have been conducted in accordance with Service Funds Regulations.
Subject to the observations given below I am ~~/we are~~ satisfied that proper books of account have been kept and that the final accounts give a true and fair view of the results of transactions over the period and of the state of the Fund's affairs as at the date of the balance sheet. Subject also to m ~~y/our~~ observations *I am ~~/ we are~~ satisfied that cash and bank balances and stocks on hand have been properly checked at prescribed intervals and that adequate insurance exists.
I ~~/We~~ have stamped and the original books of account and the original records I ~~/we~~ have checked. All vouchers relating to this account have been cancelled.
*I ~~/We~~ have made the following observations whilst carrying out the internal audit:
a. Previous observations ~~*~~ have ~~/have not been actioned (list those observation outstanding).~~

b. Management:Management. The HOPLITE Fund Manager fully understands the Funds purpose and conducts various checks monthly and has completed the 6m health check in year. The Fund has its own governance through it's trustees and is subjected to MAS(A) inspection due to the amount held. The RA has been changed 2 times in b. Overview . the year with various degrees of experience with some assistance from other units in the daily processes. Some bookings of income and expenditure have been done incorrectly as shown in the analysis forms in the G c. Fund Manager Checks . Codes, this doesn't effect the funds held but has been identified to the new RA. The HOPLITE Fund overall d. Stock Checks . saw an increase of £177,995,89 The fund is healthy and being used correctly.

e. Excess of Income .

c. Fund Manager Checks. . Are being conducted in accordance with policy and are reviewed monthly through the RA, RAO and the FM. f. Investments .

d. Stock Checks. Small quantity of t-shirts are held on stock and managed through the fund assistant.

g. Restricted Funds .

e. Internal transfers A significant internal transfer happened from an R Code to GPF due to the income generated from the charity dinner night, all I&E is captured in the R Code for assurance and moved back h. Debtors . to GPF once complete.

f. Investments. HOPLITE investments have seen a small loss in value of £4,800.24.

g. Restricted Funds. R001 CDN shows a loss of £3,012 in the R Code summary, however this is offset by the large internal transfer which is profit made back to GPF.

h. Policy. Governing documents and charter are under review with a new employed Fund Security and Admin team.

j. R Codes . Some R Codes have been closed then deleted from Paxton, R016, R017, R018, R019,R20, R021, R022 (Sqn Charity codes) - £23,284.95 was transfered from these funds to the GPF as they were for the same purpose as other R Codes in the fund. These R Codes should of been deleted after the end of the financial year, therefore don't show on the balance sheet £1,027,687.86 but shows on the SOFA report £1,050,972.81 on Bal/B/F.

Signiture

Name Capt

Date: ________ Appointment Regimental Administrative Officer

Comd/SO2 SPS - Independent Examiner's report on the Accounts, and Comments

Respective Responsibilities of Trustees and Examiner

The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.

It is my responsibility to:

a. Examine the accounts (under section 43(3)(a) of the Act).
b. Follow the procedures laid down in the General Directions given by the Charity
Commissioners (under section 43(7)(b) of the Act).
c. State whether particular matters have come to my attention.

Basis of Independent Examiner's Statement

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

Independent Examiner's Statement

In connection with my examination, no matter has come to my attention (other than those disclosed overleaf*):

a. Which gives me reasonable cause to believe that in any material respect the requirements:
(1) To keep accounting records in accordance with section 41 of the 1993 Act:
(2) To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act:

have not been met.

b. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Delete as applicable.

Comd/SO2 SPS - Independent Examiner's report on the Accounts, and Comments

Disclosure Section (Only to be completed if the examiner needs to highlight material problems/discrepancies)

Give here brief details of any items that the examiner wishes to disclose.

Comd/SO2 SPS Comments

Independent Examiner's Signature

Name Maj Appointment SO2 SPS 160X

Date: ________