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← The Warrior Programme

2025-03-31-accounts

Docusign Envelope ID: 435CBC3C-2DEC-4CF6-A27B-596C08ABF168

THE WARRIOR PROGRAMME

Financial Statements of the year ended 31 March 2025

Charity number 1120893 Company registration number 06263721

Docusign Envelope ID: 435CBC3C-2DEC-4CF6-A27B-596C08ABF168

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

C O N T E N T S

Page
Reference and administrative details 2
Report of the trustees 3
Independent auditor’s report 17
Statement of financial activities
(including income and expenditure account) 20
Balance sheet 21
Statement of cash flow 22
Notes to the financial statements 23

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THE WARRIOR PROGRAMME

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS

Registered charity name The Warrior Programme
Charity number 1120893
Company registration number 06263721
Registered office Quadrant House
Floor 6
4 Thomas More Square
London
E1W 1YW
Trustees J A Newstead - Chair
D M Rutter – Vice Chair (Resigned 1 October 2024)
Professor Andrew P Bacon – Vice Chair (Appointed
1 October 2024)
C B D Smith
Professor Paul A Farrand
A J Slater (Appointed 25 September 2024)
K P Hussain (Appointed 25 September 2024)
M H Lowe-Lauri (Appointed 25 September 2024)
Chief Executive Officer C M Cole
Independent auditor UHY Hacker Young
14 Park Row
Nottingham
NG1 6GR
Bankers TSB Bank
Market Square
Somerton
Somerset
Natwest Business Banking
PO Box 16204
Birmingham
B2 2WP
Solicitors Dentons UK LLP
One Fleet Place
London
EC4M 7WS

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TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the audited financial statements of the charity for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).”

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.

THE TRUSTEES

The trustees who served the charity during the period were as follows:

J A Newstead – Chair

D M Rutter – Vice Chair (Resigned 1 October 2024) Professor Andrew P Bacon – Vice Chair (From 1 October 2024) Professor Paul A Farrand

C B D Smith

A J Slater (Appointed 25 September 2024) K P Hussain (Appointed 25 September 2024) M H Lowe-Lauri (Appointed 25 September 2024)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 30 May 2007 and registered as a charity. 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. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and Appointment of Trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as Members. Under the requirements of the Memorandum and Articles of Association there is a Founder Member who is elected to serve for life and at least two additional members who are elected to serve for a fixed term of up to three years. There is no limit on the ability to re-elect any trustee for a further fixed term.

In order to build a broad skill mix, members of the Board of Trustees have been recruited from a wide range of relevant backgrounds. This includes extensive experience of working in the not for profit sector with disadvantaged individuals, the military, operational and business experience, accountancy, legal and professional services, people development, marketing,

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fundraising and academia.

In order to ensure that the skill mix of the Board continues to meet the strategic requirements of the charity the Board conducted a review of the expertise and experience the charity would need to achieve its objectives and identified key areas where additional skill sets were required. As a result of this review the Board sought applications from a broad range of backgrounds, particularly focusing on individuals who could support the charity in developing sustainable funding.

We had a very positive response and are delighted that as a result we offered three individuals the position of Trustee, which they have accepted.

Risk Management and Governance

The Board of Trustees meets regularly, at least four times a year, to assess the progress of the charity and review the major risks to which the charity is exposed. The trustees review the frequency of these meeting and increase the frequency where necessary. Where appropriate specialist advice is sought and professional support brought in to reinforce the work of the charity and to safeguard its operations.

The Board regularly reviews performance against the good governance code and implements improvements where necessary to ensure compliance with best practice, including a formal one to one review process for individual trustees.

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During 2025 the board have created 4 sub groups to address specific areas of risk and focus on specific areas of development. They are;

Each group is chaired by a trustee with at least 2 other trustees being members. The CEO is a member of each group and attends as required.

Warrior is an active member of Cobseo, The Confederation of British Service Charities. Within Cobseo we are members of the Employment, Female Veterans and Serving Personnel and Families Cluster Groups, identifying and promoting best practice and ensuring effective partnership working between member charities and related organisations.

We were part of the Cobseo Governance Working Group, tasked with developing a Board Governance assessment tool, setting out a minimum set of expectations that Member organisations should aspire to achieve and we continue to implement this as part of our ongoing review of good governance. Our aim is to recruit diverse individuals and to address any imbalances or skill shortages that we have identified.

The charity works closely with established agencies in the field and seeks regular feedback from them on improvements and changes that should be made to the operation and delivery of services.

Organisational Structure

The charity has a Board of Trustees of at least three members who are responsible for the strategic direction and policy of the charity. During the period, the Board comprised of between five and seven trustees from a variety of professional backgrounds relevant to the work of the charity.

The day to day responsibility for the provision of services rests with the Chief Executive and Director of Operations. They are supported by an Office Manager and Regional Co-ordinators who deliver our outreach capacity. All our Regional Co-ordinators have either served, are the spouses of those who have served or both, including past beneficiaries of the Programme.

External professionals have delivered specialist services, including the training element of the programme, evaluation, book-keeping and assistance with fundraising.

OBJECTIVES AND ACTIVITIES

During the year to 31 March 2025 1,005 individuals have attended our course and support workshops, compared with 943 in the previous year, 900 - 1110 during Covid and just 407 attending (Courses and refresher days) pre Covid in the year to 31 March 2020, which was then the highest annual number to date.

The Programme’s purpose is to teach techniques to improve performance and motivation and to help overcome emotional problems. This is delivered through a core training Programme

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with 12 months structured support and signposting. Historically the course has been delivered as a 3 day in person course, however due to Covid 19 from March 2020 to March 2022 the course was delivered live online over 5 half days. Post Covid, from April 2022, we have delivered a hybrid service including both physical and live online courses and workshops.

The main objectives and activities focus on working with the military community. We work with:

The strategies employed to assist the charity to meet these objectives include:

The trustees have complied with Section 4 of the Charities Act 2011, having due regard for the Charity Commission's guidance on public benefit when reviewing the charity’s aims and objectives and when formulating strategy.

It is the strategic intention of the charity to work in collaboration and partnership with other organisations in this field, to deliver a service at the point where it is best placed to maximise the benefit to the participant.

ACHIEVEMENTS AND PERFORMANCE

The main areas of charitable activity are the provision of the core Warrior Programme and the delivery of the support programme.

Programme delivery

During 2024/25 we have continued to deliver a hybrid service with pre and post course workshops online and foundation courses available online and in person. This ability to offer both alternatives continues to provide much needed bespoke support to our beneficiaries; in general, Serving personnel and family members prefer online as it offers flexibility to accommodate other priorities/responsibilities, and veterans often prefer in person courses as

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they value the camaraderie and opportunity to share experiences.

The participant profile in 2024/25 is in line with the previous year; In this financial year veterans have represented 56% of participants and Serving personnel 29%, this compares with the previous year when veterans represented 53% of participants and Serving personnel 28%. Going forward into 2025/26 these ratios are set to change with the number of Serving personnel increasing significantly due to new multiyear funding from both the RAF for Serving RAF and from the Army Central Fund (to support Serving Army and their families).

The number of individuals supported has risen year on year with attendees on the foundation course up 6% to 286 and attendance on the pre course support workshops up 11% to 325. These workshops are fortnightly and are a critical part of the pathway to stabilise individuals and introduce them to the concepts and thinking behind the programme prior to attending the Foundation course. It is particularly important in supporting referrals from our Op Courage NHS partners, ensuring we can provide a seamless and comprehensive service. All attendees on the courses now attend at least one pre course workshop and the feedback has been very positive.

We have continued to develop our post course monthly online workshop support, developing the curriculum of subjects addressed in the monthly workshops. The improved content, continuity and structure has led to an increase in the number of individuals attending, up 11% year on year to 337. In addition, 57 individuals attended our one day post course refresher days where they can revisit all the techniques learnt on the course.

This extensive 12 month programme represents the provision of a minimum of 100 hours of dedicated support per individual.

The need for our services and support remains high and we have supported over four times the number of individuals that we have historically, pre pandemic, with 1005 supported vs an average of 235 individuals per year over the five years prior to Covid.

During the period our services to veterans and their families have been supported by grants from the Armed Forces Covenant Fund Trust, The Veterans’ Foundation, Army Benevolent Fund, The National Lottery, NHS England and the Royal Navy and Royal Marines Charity and Greenwich Hospital. Our contract with NHS Op Courage East of England partnership commenced on 1 April 2023 and in our second year (of the four year contract) we have met all our KPIs and supported an additional 58 individuals versus a budget of 50.

The individuals being referred by Op Courage are some of the most vulnerable, chaotic and unwell individuals. On referral approximately a third are not in work and not looking for work. The remainder will be involved in a combination of looking for work, or volunteering, training, education or employment.

Positive outcomes are consistently achieved by participants. After 6 months over half (57%) of those who were furthest from being economically active, i/e/ were not in work or looking for work, were now in training, education or employment. This represents a significant improvement in their circumstances and attitude and underlines the progress they have made in stabilising their lives and taking control of their future.

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Our services to Serving personnel have been supported by grants from the Armed Forces Covenant Fund Trust, the Royal Navy, the Royal Navy and Royal Marines Charity and Greenwich Hospital, the Army Central Fund and the Royal Air Force.

We would like to thank all our funders for their continued support and partnership with us. We not only value their financial contribution but also their observations on, and input to, our future development of services.

We continue to deliver our in person residential courses at the Services Cotswold Centre, Corsham, and we are very grateful for the support they give the programme and their understanding of our requirements.

Evidence

The trustees are committed to developing evidence-based methods, rigorous evaluation and working effectively with other organisations, both statutory and charitable, to improve efficiencies and maximise the use of existing resources.

Following on from the Report on our Randomised Controlled Trial in 2015 (as published in Occupational Medicine in 2021) we have developed our monitoring and evaluation framework. Our outcome evidence is based on the following:

Outcomes - There continue to be consistent significant and wide-ranging beneficial outcomes for participants

Across all cohorts there are some common positive outcomes, key impacts being:

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Cohort Specific Outcomes

Veterans

The 12 month data consistently indicates improvements in functional impairment, well-being, mood and anxiety, together, crucially, with improvements in relationships with family and friends.

There is also consistently a significant improvement in activity levels

In the year to 31 March 2025;

Many of these individuals had chronic health conditions making engaging in work, training or volunteering very difficult.

In addition, 98% of all veterans were making progress on their goals across all areas of their life.

This is a cohort that statutory and charitable agencies find particularly difficult to reach and represents a sustained improvement. In particular, those individuals referred by Op Courage are often experiencing more complex and acute issues, both medical and socio economic, and this has been evident through our monitoring and evaluation framework.

In January 2024 we introduced the ONS Life Satisfaction question into our suite of evaluation metrics. This uses a scale of zero to 10 (poor to good) and is used by the ONS to gauge sentiment within the population as a whole. The score for the UK population is between 7 and 8 with the latest published score being 7.45 for 2022/23.

This financial year:

Twelve months after attending the programme:

This measure is clearly only a general indication; however, consistent results of this magnitude underline the difference the programme is making and the improvements in personal circumstances that individuals are experiencing.

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The families, friends and colleagues of veteran participants report noticing a positive difference, indicating the programme is having wider impacts for additional people who experience the challenges and stresses of living alongside veterans with a range of emotional and behavioural issues. The increased ‘calmness and motivation’, as well as ‘communicating and talking more’, is enhancing family life as well as enabling Warriors to establish or re-establish positive work relationships. This wider impact is reinforced by key family members attending Warrior in their own right, thereby developing the resilience, motivation and focus to manage their lives positively and support their veteran effectively.

Family members of Serving and veterans

The Warrior Programme continues to have a significant and sustainable impact for family members, addressing their particular needs and issues, and helping to reduce stress, anxiety, depression and frustration whilst improving wellbeing, energy and motivation.

The 12 month data consistently indicates improvements in functional impairment, well-being, mood, self-esteem and anxiety, together, crucially, with improvements in relationships with family and friends.

Partner organisations continue to be very positive about Warrior and recognise its ability to help those who are experiencing really challenging emotional, behavioural and health issues that are affecting many areas of their lives. Individuals who attend Warrior are reported to make substantial positive changes to their lives and increase the effectiveness of their engagement with specialist and mainstream services funded by Government and other charities.

As well as spouses/partners benefitting from the programme, as was anticipated, participants consider that the children in their families have also experienced positive impacts resulting from the increased resilience and stability of their parents.

External qualitative evaluation continues to show that the programme has had marked and far reaching positive benefits for the spouses/partners of Serving personnel. These include increased self-confidence, improved relationships and family life, and decreased feelings of anger, anxiety and frustration, as well as being more effective at work and pursuing workrelated ambitions. Feedback also indicates that the Warrior Programme is helping the Serving personnel of the families in stress to be more effective in their roles.

Participants are reporting they now have the confidence and determination to deal with personal challenges and can manage their home/work life balance much better than they did before.

Serving Personnel

During the financial period we have secured funding for referrals from all three Services; We are very grateful to the Army Central Fund for their three year grant to support Serving Army

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personnel, and that from 2025 they have increased this grant to supporting 100 Serving Army per annum for 3 years, the Armed Forces Covenant Fund Trust who have supported female Serving personnel (Tri service) experiencing workplace bullying and harassment and separately male and female Serving personnel (Tri service) experiencing domestic abuse and/or sexual violence, the Royal Navy and the Royal Navy and Royal Marines Charity and Greenwich Hospital who have supported Serving Navy personnel to attend the programme. We are also delighted to be working with the Royal Air Force who from September 2024 are supporting circa 80 Serving personnel through the programme, with the provision to extend to future years.

These contractual arrangements underline the value that Warrior is delivering in support of the welfare of our Serving personnel and we look forward to working with the Services to develop and refine our service offering further and to extend the positive impact of the programme within the Services.

It is clear that the programme is resulting in a range of positive impacts for Serving personnel, bringing benefits to their personal, home and professional lives. Participants have a variety of reasons for engaging with the programme, prompted by a number of different issues. Those frequently cited by interviewees include:

Many participants report how improvements in their ability to handle their emotions and issues in their personal lives is having positive impacts at work, indicating that the programme is helping to improve work performance levels. In addition, for those approaching transition out of the services, the programme is enabling them to make positive decisions about future work options whilst maximising their contribution to the services during their remaining period of service. Importantly, those participants with children are clear that the tools provided by Warrior are helping them to have more positive relationships with their children, demonstrating that the programme is having the wider impact for families as anticipated.

Referrers from the MOD are particularly positive about the programme and the positive outcomes they are seeing. Key impacts reported by participants include:

The clinical outcome evidence continues to indicate improvements in self-efficacy, anxiety, functional impairment, well-being and relationship satisfaction and monthly monitoring information demonstrates that after 6 months:

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The percentage of participants rating their relationships with family as very good increases from 40% to 61%

89% are making progress on their goals.

Serving women continue to outnumber Serving men on Warrior, representing 51% of participants despite representing just 11% of the Armed Forces. The issues they report: bullying and harassment, loss of confidence, unequal treatment by male colleagues and working harder to prove themselves, are limiting their careers or causing them to leave. Their needs often remain hidden, as victims do not feel safe or confident facing up to the individual/s involved or raising a complaint for fear of exacerbating the situation.

In 2022 we undertook additional external analysis, Qualitative Data Analysis, to better understand their situations and how specifically Warrior is able to assist them.

This study concluded that The Warrior Programme provides social support to women service personnel that is instrumental in helping them resolve challenging situations at work, family and in personal relationships. Retention in Service is an important issue and participants described how attendance on The Warrior Programme supported them in accessing the help they need from the system, advocating for themselves with the chain of command, or the authorities, and in their own personal relationships too. This in turn enabled many to remain in Service, when they otherwise would not have.

The needs are compelling, as the impact on their lives, mental health and wellbeing can be severe enough for them to consider self-medicating, leaving their families, accepting medical downgrade or leaving Service.

Our funding from the Navy and RAF is to support male and female Serving personnel and is focused on retention and enhancing their Service career experience. We are working with the in Service welfare teams to assess impact and develop the programme going forward. Our funding from the Army Central Fund is to support Serving Army personnel to focus on specific areas of concern and to also support their families.

We continue to develop our evaluation and evidence matrix to enable us to support each group as effectively as possible and to ensure they gain the maximum benefit from attending the programme.

FINANCIAL REVIEW

In the period to 31 March 2025, our statutory accounts show a surplus of £11,023 made up of marginal decreases in restricted funds of £2,287, and designated funds of £12,852 and an increase in general unrestricted funds of £26,162. Under UK accounting regulations the full amount of a grant is recognised in the financial period in which it is received, which can result in a mismatch between funds received and funds expended in the period. In this financial period the funds received marginally exceeded those expended as some of the funding was to support delivery in subsequent periods.

The restricted income principally relates to a number of grant awards that are cohort specific from the Armed Forces Covenant Fund Trust (AFCFT), funding from The Big Lottery and a grant

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from The Veterans’ Foundation. The AFCFT funding includes two Veterans’ PPP grants, Reaching and Supporting Round 1(Serving females experiencing discriminating and abusive behaviour in the workplace) and Reaching and Supporting Round 2 (for Serving personnel affected by domestic abuse and/or sexual violence). The funding from the Big Lottery relates to the third year tranche of a 3 year grant to support our charitable work with veterans and to fund the development of our commercial offering to be provided through a wholly owned subsidiary which will return all profit to the charity.

The designated funds principally relate to grants made by the Army Central Fund, the Army Benevolent Fund, the Royal Navy and Royal Marines Charity and Greenwich Hospital together with the Op Courage contract for the East of England and the MOD contracts for the Royal Navy and Royal Air Force. The balance at 31 March 2025 represents the funds received in the financial year ended 31 March 2025 to be expended in the following financial period. The grants were made to support our programmes and work with veterans and their families, with the exception of th ~~e A~~ CF and MOD which ~~a~~ re to support Serving personnel.

We are extremely grateful to these organisations for their continued support and value our close working relationships with them. Their support is a key element in ensuring we continue to deliver an outstanding service to our veteran, Serving and family beneficiaries and their input is invaluable in enabling us to continue to develop and improve all we do.

During 2024/25, we have continued to deliver on a key objective, to maintain and add to our reserves whilst raising sufficient funds to support the development and delivery of our programme and core team.

The cost of charitable activities has increased by £85,670 or 15% to £640,538. This is the result of a number of factors; higher numbers of participants and a higher proportion requiring in person physical courses, and increased delivery costs, particularly team costs. In previous periods we were operating below strength in team numbers, and this year we have recruited new team members to take us to capacity, in order to be able to drive forward development and deliver on our goals.

We continue to make cost savings where possible to mitigate these cost pressures, whilst ensuring that we do not negatively impact our front line service delivery. In March 2025 we streamlined our operational and admin functions to ensure we could operate without a permanent physical dedicated office. The team had effectively been operating remotely since the Covid restrictions and we took the decision to formalise the new working practices. This enabled us to give up our office lease as of 31 March 2025 and hence from 1 April 2025 we will not incur office costs. Instead, we have negotiated an agreement with Forces Employment Charity that up to 2 Warrior employees can hot desk at their offices in Mountbarrow House, Victoria, when working in London. This also has the added advantage of better integration and networking with the other military charities and organisations co located in those premises.

Trade debtors have increased from £27,863 in 2024 to £140,263 in 2025 as a result of a block RAF payment. This payment was due pre year end for services to be delivered in 2025/26 however was not received until April 2025. The payment of £140,000 has therefore been shown in trade debtors and income in advance in creditors.

The board seeks to maximise the benefit for our beneficiaries from all our funding and managing our cash reserves is a key part of this. During the period the charity held funds

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deposited in a NatWest business savings account under a 95-day notice arrangement. These funds are working capital but are monitored and managed so that we can give 95 days’ notice of requiring the funds.

In accordance with FRS 102, Section 7 – Statement of Cash Flows, cash and cash equivalents are defined as cash on hand and demand deposits, together with short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value, normally with a maturity of three months or less from the date of acquisition.

As the funds in this account require 95 days’ notice for withdrawal, they do not meet the definition of cash and cash equivalents under FRS 102. Consequently, these funds are required to be classified and disclosed as cash investments rather than cash and cash equivalents in the financial statements. They are therefore also shown as a purchase of current investments in the cash flow statement. In the prior year these funds had been held in an on-demand account.

The level of need of our beneficiaries showed no sign of decreasing and in an increasingly difficult funding environment Warrior continues to attract funding support, based on the strong evidence of the positive impact of the programme across all cohorts and we expect to maintain or increase funded delivery levels in the coming year.

Reserves Policy

The Board of Trustees has examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure. Budgeted expenditure for 2025/26 is £935,996 and therefore the target is £233,999 to £467,998 in general funds. The reserves are needed to meet the working capital requirements of the charity and the Board of Trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. The present level of general reserves available to the charity is £377,408, which meets this requirement. The strategy is to continue to build reserves through planned operating surpluses, and in the short term the Board of Trustees has considered the extent to which existing activities and expenditure could be curtailed, should such circumstances arise.

PLANS FOR FUTURE PERIODS

Our Programme enables individuals to make extraordinary changes to their lives and the charity plans to continue the activities outlined above in the forthcoming years, subject to satisfactory funding arrangements.

We are now in our third year ( of four ) of the NHS Op Courage East of England contract and the collaborative is working well, meeting the complex needs of our beneficiaries and ensuring an enhanced and joined up delivery of services. The composition of the partnership, with all parties attending the Multi-Disciplinary Team meetings, enables our innovative non clinical services to work alongside the clinical pathway, enhancing outcomes for individuals, ensuring a co-ordinated experience for our beneficiaries. Clinicians continue to observe how being able to refer individuals to Warrior has enhanced their ability to work with them and has helped with their own work load management. We look forward to continuing this successful partnership through the contract and into the extended two year period.

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As a result of our one-off grant from NHS England in 2023 we continue to develop relationships with other Op Courage partnerships, building similar strong and robust pathways. We will continue to develop those relationships across England.

During 2025 we have consolidated and broadened our work with Serving personnel. We are now in our second year of our Navy contract and in discussions to extend and increase the numbers supported. Our new funding from the Royal Air Force is enabling circa 80 Serving personnel to access our services per year and we are delighted that in 2025 we have been able to offer the same level of access to Serving Army personnel and their families through our new 3 year funding from the Army Central Fund. This has built on their previous 3 year grant funding and now ensures we can focus our services where the Army identify they will have the most impact.

This recurring funding for each of the Services is an important step forward and is setting the foundations for our future work with Serving personnel. We are developing our evaluation matrix to ensure it meets the priorities of the Serving referral partners and enables them to demonstrate the positive impact against their objectives.

We continue to develop opportunities to access similar multiyear sustainable funding for Serving personnel across all three Services and are grateful to the Army Central Fund, the RAF and Royal Navy and the Armed Forces Covenant Fund Trust for their continued multiyear funding to support our work with specific Serving cohorts.

The charity is committed to the long-term strategic objective of developing sustainable unrestricted funding, via a commercial offering, that would support our charitable services. In 2025 we have continued to develop this strategy and identify potential opportunities.

It is intended that ultimately the commercial offering will provide an additional and sustainable income to help support our charitable objectives, providing the charity with more control and flexibility over the development and delivery of our core charitable services.

Responsibilities of the Management Committee

Company law requires the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:

The Board of Trustees is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Board of Trustees is also responsible for safeguarding the assets of the charitable company

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and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Members of the Board of Trustees

Members of the Management Committee, who are directors for the purpose of company law and Trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 2.

Registered office: Quadrant House Floor 6 4 Thomas More Square London E1W 1YW

Signed by order of the trustees

Professor Andrew P Bacon Vice Chair of the Board of Trustees

Date 15/12/2025

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE WARRIOR PROGRAMME

Opinion

We have audited the financial statements of The Warrior Programme (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flow and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statement is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine

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whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the charitable company and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the charitable company, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to inflated revenue and the charitable company’s net income for the year.

Audit procedures performed included: review of the financial statements’ disclosures to underlying supporting documentation, review of correspondence with legal advisors, enquiries of management and review of internal audit reports in so far as they related to the financial statements, and testing of journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report .

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed .

David Allum 17/12/2025 (Senior Statutory Auditor) Date……………………………

For and on behalf of UHY Hacker Young

Chartered Accountants and Statutory Auditor

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THE WARRIOR PROGRAMME

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted Restricted Total Funds
 Total Funds
Funds Funds 2025 2024
Note £ £ £ £
INCOME FROM:
Donations 3 116,358 293,863 410,221 535,656
Charitable activities 4 253,600 - 253,600 190,000
Investments 5 23,304 - 23,304 12,062
───── ───── ───── ─────
TOTAL INCOME 393,262 293,863 687,125 737,718
───── ───── ───── ─────
EXPENDITURE ON:
Raising funds 6 (19,752) (15,812) (35,564) (33,371)
Charitable activities 7/8 (360,200) (280,338)
(640,538)		 (554,868)
────── ───── ────── ──────
TOTAL EXPENDITURE (379,952) (296,150) (676,102) (588,239)
────── ───── ────── ──────
NET INCOME/(EXPENDITURE) 13,310 (2,287) 11,023 149,479
────── ────── ────── ─────
NET MOVEMENT IN FUNDS 13,310 (2,287) 11,023 149,479
RECONCILIATION OF FUNDS
Total funds brought forward 521,858 584,698 1,106,556 957,077
───── ───── ────── ──────
TOTAL FUNDS CARRIED FORWARD
 535,168 582,411 1,117,579 1,106,556
═════ ═════ ══════ ══════
REPRESENTING:
Restricted Funds 16 - 582,411 582,411 584,698
Designated Funds 17 154,603 - 154,603 167,455
General Funds 17 380,565 - 380,565 354,403
───── ───── ────── ──────
TOTAL FUNDS CARRIED FORWARD 535,168 582,411 1,117,579 1,106,556
═════ ═════ ══════ ══════

The Statement of Financial Activities includes all gains and losses in the year.

All of the above amounts relate to continuing activities.

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BALANCE SHEET

31 MARCH 2025

2025 2024
Note £ £ £
FIXED ASSETS
Tangible assets 11 Tangible assets 11 3,156 4,115
Investments 12 Investments 12 1 11 1
──── ────
3,157 4,116
CURRENT ASSETS
Current asset investments 13 Current asset investments 13 511,144 -
Debtors 14 141,188 27,897
Cash at bank and on deposit 671,200 1,107,235
────── ──────
1,323,532 1,135,132
Creditors: Amounts falling due within one year 15(209,110) (209,110) (32,692) (32,692)
────── ──────
NET CURRENT ASSETS 1,114,422 1,102,440
────── ──────
TOTAL ASSETS LESS CURRENT LIABILITIES 1,117,579 1,106,556
────── ──────
────── ──────
TOTAL NET ASSETS 1,117,579 1,106,556
══════ ══════
FUNDS
Restricted income funds 16 582,411 584,698
Designated income funds 17 154,603 167,455
General income funds 17 380,565 354,403
────── ──────
TOTAL FUNDS 1,117,579 1,106,556
══════ ══════

These financial statements were approved and authorised for issue by the members of the committee on the 2025 and are signed on their behalf by: 12 December

(< DocuSigned by:

JACKIE NEWSTEAD Chair of the Board of Trustees

Company Registration Number: 06263721

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STATEMENT OF CASH FLOW

YEAR ENDED 31 MARCH 2025

2025 2024
Note
£
 £
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by/(used in) operating activities 19 54,404 112,536
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment 11 (2,599) (987)
Purchase of current investments 13 (500,000) -
───── ─────
Net cash flow from investing activities (502,599) (987)
CASH FLOWS FROM FINANCING ACTIVITIES
Bank interest received 5 12,160 12,062
───── ─────
Net cash flow from financing activities 12,160 11,075
CHANGE IN CASH AND CASH EQUIVALENTS IN THE
REPORTING PERIOD (436,035) 123,611
────── ─────
Cash and cash equivalents brought forward 1,107,235 983,624
────── ──────
CASH AND CASH EQUIVALENTS CARRIED FORWARD 671,200 1,107,235
══════ ══════

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THE WARRIOR PROGRAMME

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Legal status – The organisation is registered as a charity, number 1120893 and is a private company limited by guarantee, incorporated in England.

Registered office – Quadrant House, Floor 6, 4 Thomas More Square, London E1W 1YW Company registration number - 06263721.

2. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Acts 2011 and 2022 and UK Generally Accepted Practice as it applies from 1 January 2015 and the Companies Act 2006.

The financial statements have been prepared in sterling, which is the functional currency of the charity.

The trustees have complied with Section 4 of the Charities Act 2011, having due regard for the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives and when formulating strategy.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life .

Course and Office Equipment - 1/3 on Cost

Current asset investments

Current asset investments relate to cash amounts held on deposit which requires notice of longer than 3 months to be withdrawn.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Income

Charitable income is recognised in the period it falls due. Grants are allocated on receipt directly into the correct fund. Grants for the year are recognised based on the charity's entitlement to the grant.

Allocation of Expenditure

Expenditure has been allocated between the main headings in the Statement of Financial Activities on the basis of the type of activity to which they relate. Support costs are apportioned to activities in relation to the value of those costs.

Designated reserves

The trustees have established these where funds have been earmarked for a specific purpose.

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THE WARRIOR PROGRAMME

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

3. DONATIONS

Unrestricted
Restricted
Total
Funds
Funds
Funds
2025
2025
2025
£
£
£
Donations
Partners &
Trust Funds
113,500
293,863
407,363
Individuals
2,858
-
2,858
Gifts
Gifts in Kind
-
-
-
116,358
293,863
410,221

INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
2025
£

Contracted services
253,600


INCOME FROM INVESTMENTS
Unrestricted
Funds
2025
£

Bank interest
Investment income
12,160
11,144
23,304		 Total
Funds
2025
£
407,363
2,858
-		 Total
Funds
2025
£
407,363
2,858
-
Unrestricted
Restricted

Funds
Funds

2024
2024
£
£


126,814
406,273

2,569
-

-
-

129,383
406,273
Total
Unrestricted
Funds
Funds
2025
2024
£
£

253,600
190,000



Total
Unrestricted
Funds
Funds
2025
2024
£
£

12,160
11,144
12,062
-
23,304
12,062



Total
Funds
2024
£
533,087
2,569
-
410,221 535,656




Total
Funds
2024
£
190,000

Total
Funds
2024
£
12,062
-
12,062

4. INCOME FROM CHARITABLE ACTIVITIES

5. INCOME FROM INVESTMENTS

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THE WARRIOR PROGRAMME

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

6. EXPENDITURE ON RAISING FUNDS

Unrestricted
Funds
2025
£

Fees
17,504
Support costs
2,248
19,752		 Restricted
Funds
2025
£

14,013
1,799
15,812		 Total
Unrestricted
Restricted
Funds
Funds
Funds
2025
2024
2024
£
£
£

31,517
12,898
16,540
4,047
1,723
2,210
35,564
14,621
18,750		 Total
Funds
2024
£
29,438
3,933
33,371

7. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE

Unrestricted
Funds
2025
£

Warrior
programmes
316,961
Support costs
43,239
360,200		 Restricted
Funds
2025
£

246,687
33,651
280,338		 Total
Unrestricted
Funds
Funds
2025
2024
£
£

563,648
236,614
76,890
36,824
640,538
273,438		 Restricted
Funds
2024
£

243,530
37,900
281,430		 Total
Funds
2024
£
480,144
74,724
554,868

8. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE


Warrior
programmes		 Direct
costs
2025
£

563,648
563,648		 Support
costs
2025
£

76,890
76,890		 Total
costs
2025
£

640,538
640,538		 Direct
costs
2024
£

480,144
480,144		 Support
costs
2024
£

74,724
74,724		 Total
costs
2024
£
554,868
554,868

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THE WARRIOR PROGRAMME

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

9. SUPPORT COSTS

.
SUPPORT COSTS
Unrestricted Restricted Total
Unrestricted		 Restricted Total
Funds Funds Funds
Funds		 Funds
Funds
2025 2025 2025 2024 2024
2024
£
 £
 £ £ £
£
Total support
costs
45,487		 35,450 80,937
38,547		 40,110
78,657
Governance
costs within
support costs
Auditor’s fee
9,408		 7,332 16,740 7,057 7,343
14,400
Accountancy
fees
288		 224 512 239 249 488
Legal and
professional
fees
8,057		 6,280 14,337 5,689 5,919
11,608
Bank charges
-		 - -
100
 104
204
17,753 13,836 31,589
13,085
 13,615
26,700
0. STAFF COSTS AND EMOLUMENTS
Total staff costs were as follows:
2025 2024
£
 £
Wages and salaries 259,849 238,340
Social security costs 19,686 17,356
Pension contributions 5,795
 5,130
285,330 260,826
═══════════ ═══════════
Particulars of employees: 2025 2024
No. No.
The average headcount of employees during the year was: 8.80 8.42
The average number of employees during the year, calculated
on the basis of full-time equivalents, was as follows:
Number of operational staff 6.89 6.63
═════ ═════
No employee received remuneration of more than £60,000 during the year.
The total compensation of the key management personnel during the year was £64,334
(2024 - £61,605).

10. STAFF COSTS AND EMOLUMENTS

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NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

11. TANGIBLE FIXED ASSETS
2025
Office
Equipment
Cost £
At 1 April 2024 12,157
Additions 2,599
Disposals (779)
At 31 March 2025 13,977
Depreciation
At 1 April 2024 8,042
Charge for the year 3,558
Disposals (779)
At 31 March 2025 10,821
Net Book Value
At 31 March 2025 3,156
At 31 March 2024 4,115

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NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

12. INVESTMENTS

INVESTMENTS
2025
Shares in
subsidiary
undertaking
£
Cost
At 1 April 2024 1
Additions -
Disposals -
At 31 March 2025 1
Net book value
At 31 March 2025 1
At 31 March 2024 1
CURRENT ASSET INVESTMENTS
2025 2024
£ £
Current asset investments 500,000 -
Interest received from investment
11,144		 -
511,144 -

13. CURRENT ASSET INVESTMENTS

The charity held funds deposited in a NatWest business savings account under a 95-day notice arrangement. In accordance with FRS 102, Section 7 – Statement of Cash Flows, cash and cash equivalents are defined as cash on hand and demand deposits, together with short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value, normally with a maturity of three months or less from the date of acquisition.

As the funds in this account require 95 days’ notice for withdrawal, they do not meet the definition of cash and cash equivalents under FRS 102. Consequently, these funds have been classified and disclosed as cash investments rather than cash and cash equivalents in the financial statements.

14. DEBTORS

DEBTORS
2025 2024
£ £
Current asset investments
511,144		 -
Trade debtors 140,263 27,863
Prepayments 925 34
652,332 27,897

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NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

15. CREDITORS: Amounts falling due within one year

Trade creditors
Accrued expenditure
Income in advance
16. RESTRICTED INCOME FUNDS
Balance at
1 Apr 2024
£
Ministry of Defence – Armed Forces
Covenant Fund
444,198
The National Lottery Community Fund –
commercial development project,
veterans and families
62,500
NHS England – veterans project
78,000
The Veterans’ Foundation
-

584,698

17. UNRESTRICTED INCOME FUNDS
Balance at
1 Apr 2024
£

Designated Funds
167,455
General Funds
354,403
521,858
 2025
2024
£
£
44,251
20,453
22,859
142,000
12,239
-
209,110
32,692

Income
Expenditure
Balance at
31 Mar 2025
£
£
£
143,863
(43,150)
544,911
135,000
(163,750)
33,750
-
(78,000)
-
15,000
(11,250)
3,750


293,863
(296,150)
582,411


Income
Expenditure
Balance at
31 Mar 2025
£
£
£
367,100
(379,952)
154,603
26,162
-
380,565


393,262
(379,952)
535,168

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THE WARRIOR PROGRAMME

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed assets Net current Total net assets
assets 2025
£
 £
 £
Restricted Income Funds:
Ministry of Defence – Armed Forces
Covenant Fund - 544,911 544,911
The National Lottery Community Fund –
commercial development project,
veterans and families - 33,750 33,750
The Veterans’ Foundation -
 3,750
 3,750
-
 582,411
 582,411
Unrestricted Income Funds:
Designated Funds - 154,603 154,603
General Funds 3,157
 377,408
 380,565
3,157
 532,011
 535,168
Total Funds 3,157
 1,114,422
 1,117,579

19. RECONCILIATION OF NET INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES

2025 2024
£
 £
Net income/(expenditure) for the reporting period 11,023 149,479
Adjusted for:
(Increase)/decrease in debtors (113,291) (27,526)
Increase)/(decrease) in creditors 176,418 (710)
Depreciation of tangible fixed assets 3,558 3,355
Interest received (12,160) (12,062)
Investment income (11,144) -
───── ─────
Net cash provided by/(used in) operating activities 54,404 112,536
═════ ═════

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NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

20. OPERATING LEASE COMMITMENTS

At the reporting end date, the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025 2024 £ £ Within one year - 800

21. RELATED PARTY TRANSACTIONS

No Trustee or person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year or the previous year, other than for the reimbursement of Trustee travel expenses amounting to £127 (2024 - £Nil).

22. SUBSIDIARIES

The subsidiary did not trade during the year.

Name of Registered office Nature of Class of shares % Held Direct
Undertaking business held
Think Warrior Ltd England and Dormant Ordinary 100.00
Wales

23. ACKNOWLEDGEMENTS

The charity’s funds were received from a number of different sources during the period, of which acknowledgement is required of the following by their funding agreements:

Ministry of Defence – Armed Forces Covenant Fund £143,863
The National Lottery Community Fund £135,000
Army Benevolent Fund £50,000
The Army Central Fund £50,000
The Veterans’ Foundation £15,000
The Royal Navy and Royal Marines Charity and Greenwich Hospital £13,500

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