ANNUAL REPORT
1[st] January – 31[st] December 2022
Registered Charity No.1123149
CONTENTS
1. WHERE DOES OUR MONEY COME FROM?
2. HOW IS OUR INCOME SPENT?
3. WHO HAVE WE SUPPORTED?
4. TRUSTEE’S REPORT
5. FINANCIAL STATEMENTS
WHERE DOES OUR MONEY COME FROM?
Thankfully, the impacts of the Covid-19 pandemic began to lessen in 2022 and we have been able to return to events including The Forces March which we were delighted to be able to host once again after a 3-year absence.
We were also very grateful to receive grant support from B&Q Foundation to help us construct ‘The Veterans Depot’ which we plan to open in 2023 as well as grant of £30,000, from the outstanding Veterans’ Foundation. This is the fourth grant we have received from Veteran’s Foundation and we are extremely grateful for all the incredible support they have provided to us since 2020.
In July, we attended the RLC Corps Open Day at South Cerney in Gloucester and during the event, had discussions with senior personnel from the Corps including the Regimental Secretary, Corps Colonel and Major-General Simon Hutchings, Master Logistician. Two weeks later, we were asked to give a presentation At Worthy Down about our work. This led to the formation of an exciting partnership with the RLC Association Trust. The partnership means that The Veterans Charity will deliver immediate needs support to Veterans of the Corps using funds provided by the RLC Association Trust. These funds include a small admin fee for each case which covers the charity’s basic costs of delivering that support. In it’s first 6 months, the partnership delivered support to 54 Veterans of the RLC and Forming Corps and continues to go from strength-to-strength.
In February, Forces Support approached us to discuss a potential funding partnership as they were looking to broaden their remit to include supporting Veterans as well as bereaved families. The charity had undertaken extensive research to select a charity which would maximise the use of any funding and deliver support to a large number of Veterans and their dependents.
We are extremely proud that Forces Support have chosen to provide funding to The Veterans Charity and in February, a 3-year partnership began which means that funding will be provided by Forces Support to enable us to deliver support to up to 500 Veterans per year, at an average case value of £115. The total funding being provided is £172,500. This game-changing support has already enabled us to support almost 450 Veterans in 2022 and our relationship with Forces Support is growing into a productive and highly effective one!
HOW IS OUR INCOME SPENT?
We work hard to ensure that the money we raise is spent on our charitable aims.
In addition to delivering rapid and vital support to hundreds of Veterans during times of hardship, we also have objectives which deliver other support to Veterans including our Black Dog Walking Club, Routes of Remembrance and our activities in Normandy each year where we support many visiting Veterans and Service Personnel with refreshments, chaperoning and even transport where needed.
We always try to ensure that we get the best possible price on the provisions we provide to Veterans and that it is delivered as efficiently as possible, within the shortest achievable timeframe.
We know that our rapid reaction not only delivers vital provisions quickly but alleviates distress and the pressures that hardship creates, bringing stability to our beneficiaries. This stability is proving to enhance engagement with additional support services including mental health care.
We also spend a great deal of time listening and talking to hundreds of Veterans every year. Many Veterans visit us at events for a brew and a chat whilst others engage at breakfast clubs and social events that we run throughout the year.
During 2022, we supported a total of 652 cases where essential items were provided directly to Veterans facing hardship or crisis. We saw a rise in the complexity of many cases and a need for us to find solutions to many issues.
Collaboration is very much at the heart of what we do and we are very proud to have a strong relationship with dozens of charities, organisations and Government departments. 75% of all cases in 2022 came to us as a result of referrals from many other organisations including the NHS, MOD, Royal British Legion, SSAFA, Forces Employment Charity, DWP, Walking With The Wounded and Op Nova as well as numerous councils and housing providers around the UK.
WHO HAVE WE SUPPORTED?
During 2022, we provided direct, immediate needs support to 652 cases – our second busiest year ever!
The support we provide, is offered to anyone who has served in the Royal Navy, Army or Royal Air Force at any time during their lives and for any length of time. This includes those who have served as regulars or reservists. We have provided support to Veterans ranging from just 18 to 105 years of age.
----- Start of picture text -----
VETERANS SUPPORTED IN 2022
ROYAL AIR FORCE ROYAL NAVY
4.6% 7.5%
ARMY
87.9%
ROYAL NAVY ARMY ROYAL AIR FORCE
----- End of picture text -----
----- Start of picture text -----
ITEMS PROVIDED
MOBILE
OTHER (e.g.,
PHONE/TABLET/CREDIT
emergency – 75 instances
accommodation,
travel/fuel –
31 instances
UTILITIES SUPPORT –
79 instances
HOUSEHOLD GOODS
(appliances, furniture) -
33 instances
FOOD/GROCERIES –
553 instances
CLOTHING/FOOTWEAR –
71 instances
----- End of picture text -----
We use a wide variety of suppliers when sourcing provisions for our beneficiaries to ensure we get the best value whilst also maintaining a high standard of quality in order to deliver maximum benefit to those we support.
Our suppliers are carefully chosen based on price, availability and delivery timescale as well as past quality experience. Using reliable suppliers is vital to prevent time being wasted in sorting any problems with deliveries or returns.
On average, throughout 2022, our ‘turnaround’ time from us first contacting a beneficiary to delivery of essential provision/support is less than 24 hours. In many cases, we have even been able to deliver items the same day!
Some of our team with former 29 Cdo Officer, Johnny Mercer MP, Minister for Veterans Affairs during a visit in November 2022
COMPANY REGISTRATION NUMBER: 06484880 CHARITY REGISTRATION NUMBER: 1123149
The Veterans Charity Company Limited by Guarantee Unaudited Financial Statements 31 December 2022
Company Number 06484880 Registered Charity Number 1123149
THOMPSON & CO
Chartered accountants Sterling Offices 30A Mill Street Bedford Beds MK40 3HD
The Veterans Charity
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 8 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 |
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.
Reference and administrative details
| Registered charity name | The Veterans Charity |
|---|---|
| Charity registration number | 1123149 |
| Company registration number | 06484880 |
| Principal office and registered | Unit 7 |
| office | Seven Brethren Bank |
| Barnstaple | |
| Devon | |
| EX31 2AS | |
| The Trustees | General (Retired) Sir R A Pascoe KCB MBE (President) |
| Lieutenant-Colonel (Retired) V.R. Kent-Payne (Chair) | |
| Mr I. Henderson | |
| Major-General (Retired) R Thomson CBE DSO | |
| Major (Retired) H Jones | |
| Captain W E Holland | |
| Company secretary | Major M J Massy-Beresford / Mr Daniel Greeno |
| Accountants | Thompson & Co |
| Chartered accountants | |
| Sterling Offices | |
| 30A Mill Street | |
| Bedford | |
| Beds MK40 3HD |
The notes on pages 13 to 19 form part of these financial statements.
- 8 -
The Veterans Charity
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2022
Structure, governance and management
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 28 January 2008 and registered as a charity on 11 March 2008. The company was established under a Memorandum of Association, (amended 2016) which established the objects and powers of the company and is governed under its Articles of Association.
Recruitment and appointment of Management Committee
The directors/trustees are known as members of the Management committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected or appointed by the existing Trustees to serve on the board.
Objectives and activities
The main objective is to directly assist individuals who have served for at least 6 months in His Majesty's Armed Forces through delivery of vital provisions, advice, and general support, which the trustees refer to as welfare support. This objective is aimed at enhancing the quality of day-to-day life for veterans with the help of modest provisions such as food shopping, utilities support, clothing, household items, communications devices and in exceptional circumstances, temporary emergency accommodation.
Whilst the charity does not provide financial grants to individuals, it does provide guidance, support and advice and a "signpost" to point the way for those who may need financial assistance or additional support for issues including physical and mental well-being needs.
Another objective is to create memorials/monuments as recognition of the sacrifice made by members of the armed forces and to help educate the public in the history of specific military operations. The charity has in the past created a significant memorial in Normandy which honours the ‘coup de main’ operation which spearheaded the D-Day invasion as well as other memorials, plaques and monuments.
This objective has evolved in recent years and the charity operates a number of initiatives to help meet this objective including Routes of Remembrance and annual or regular events which educate and honour the operations of D-Day and the British Armed Forces in general. These initiatives also provide social and volunteering opportunities for members of the Armed Forces Community around the UK.
How our activities deliver public benefit
The charity's main objectives are described above. To achieve these, the charity organises or attends enjoyable social and challenge events which Veterans, service military personnel and the public alike can take part in, whilst raising funds and at the same time educating the public about the sacrifices made by those who serve in the UK Armed Forces. These events are enjoyable and educational and give civilians a great opportunity to spend time with members of HM Forces and Veterans of the UK military. Uniting these sections of society enhances understanding of the challenges faced by those we support as well as providing volunteering opportunities for a wide range of people to benefit from.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The principal funding sources and their purposes are as follows:
The notes on pages 13 to 19 form part of these financial statements.
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The Veterans Charity
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2022
Grants and donations
The charity derives the majority of its income from donations. Donors consist primarily of individuals, who generously make donations during public fundraising events, collections and events and also participants who undertake sponsored marches, walks, marathons and similar events organised by the charity.
The cost of providing support and provisions to veterans during the period amounted to £221,204 (2021: £167,381).
This expenditure includes support costs which enable the charity to deliver vital assistance, guidance and advice as well as carry out assessments of beneficiary needs. These costs are considered by the trustees to be costs incurred to achieve the charitable objectives of the charity and a crucial to the charity’s welfare operations.
Financial review
Net incoming/(outgoing) resources for the year are £8,202, (2021: £9,309)). The general fund shows reserves available of £29,742 (2021: £72,311) and Unrestricted Funds o£ £50,771 (2021 - nil).
The charity will continue to focus on regular fundraising events and keeping governance costs as low as possible. Funding partnerships with Forces Support, Royal Logistic Corps Association Trust and Women’s Royal Army Corps Association have been established and will help to provide valuable funds for welfare delivery.
The Management Committee are focussed on establishing additional partnerships with other associations and on enhancing existing income streams to generate additional income which is needed to enable the charity to continue operating well and to expand future initiatives.
Plans for future periods
The strategy moving forward is to continue to raise awareness of the charity and its planned events. This will partly be achievable by providing continued support of other events organised by other entities.
Fundraising will continue to be conducted through public collections and events created by the charity as well as attending larger events which are organised by other entities.
This strategy is aimed at keeping costs of generating vital income as low as possible whilst continuing to raise the profile of the charity.
The charity is also recruiting a number of additional volunteers who will organise and attend fundraising collections around the UK. This will help to enhance awareness of the charity's work as well as generate further income.
The trustees' annual report and the strategic report were approved on 4[th] September 2023 and signed on behalf of the board of trustees by:
General Sir R A Pascoe KCB MBE Lieutenant-Colonel (Retired) V.R. Kent-Payne President and Trustee Chair of Trustees
The notes on pages 13 to 19 form part of these financial statements.
- 10 -
The Veterans Charity
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 118,886 | 110,500 | 229,386 | 176,680 |
| Investment income | 6 | 20 | – | 20 | 10 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 118,906 | 110,500 | 229,406 | 176,690 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Test | 7,8 | 161,475 | 59,729 | 221,204 | 167,381 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 161,475 | 59,729 | 221,204 | 167,381 | |
| ================================ | ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | (42,569) | 50,771 | 8,202 | 9,309 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 72,311 | – | 72,311 | 63,002 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 29,742 | 50,771 | 80,513 | 72,311 | |
| ================================ | ================================ | ================================ | ================================ | ||
| The statement of financial activities includes all gains and losses recognised in the year. | |||||
| All income and expenditure derive from | continuing | activities. | |||
| 2022 | 2021 | ||||
| Note | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible fixed assets | 12 | 3,088 | 1,430 | ||
| Current assets | |||||
| Stocks | 13 | 8,500 | 8,500 | ||
| Cash at bank and in hand | 71,615 | 65,051 | |||
| ---------------------------- | ---------------------------- | ||||
| 80,115 | 73,551 | ||||
| Creditors: amounts falling due within one year | 14 |
2,690 | 2,670 | ||
| ---------------------------- | ---------------------------- | ||||
| Net current assets | 77,425 | 70,881 | |||
| ---------------------------- | ---------------------------- | ||||
| Total assets less current liabilities | 80,513 | 72,311 | |||
| ---------------------------- | ---------------------------- | ||||
| Net assets | 80,513 | 72,311 | |||
| ============================ | ============================ | ||||
| Funds of the charity | |||||
| Restricted funds | 50,771 | 25,000 | |||
| Unrestricted funds | 29,742 | 47,311 | |||
| ---------------------------- | ---------------------------- | ||||
| Total charity funds | 15 | 80,513 | 72,311 | ||
| ============================ | ============================ |
For the year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The notes on pages 13 to 19 form part of these financial statements.
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The Veterans Charity
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 December 2022
Directors' responsibilities:
-
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
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 4[th] September 2023, and are signed on behalf of the board by:
| _______ |
___________ | ___________ |
|---|---|---|
| General Sir R A Pascoe KCB MBE | Lieutenant-Colonel (Retired) V.R. Kent-Payne | |
| Trustee | Trustee | |
| 2022 | 2021 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 8,202 | 9,309 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 790 | 375 |
| Other interest receivable and similar income | (20) | (10) |
| Accrued expenses | 20 | – |
| Changes in: | ||
| Stocks | – | (2,500) |
| ----------------------- | ----------------------- | |
| Cash generated from operations | 8,992 | 7,174 |
| Interest received | 20 | 10 |
| ----------------------- | ----------------------- | |
| Net cash from operating activities | 9,012 | 7,184 |
| ======================= | ======================= | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (2,448) | (480) |
| ----------------------- | ----------------------- | |
| Net cash used in investing activities | (2,448) | (480) |
| ======================= | ======================= | |
| Net increase in cash and cash equivalents | 6,564 | 6,704 |
| Cash and cash equivalents at beginning of year | 65,051 |
58,347 |
| ---------------------------- | ---------------------------- | |
| Cash and cash equivalents at end of year | 71,615 | 65,051 |
| ============================ | ============================ |
The notes on pages 13 to 19 form part of these financial statements.
- 12 -
The Veterans Charity
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 7, Seven Brethren Bank, Barnstaple, Devon EX31 2AS.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted but earmarked by the Management Committee for particular purposes. Restricted funds are subject to restrictions on their expenditure imposed by the donor.
- 13 -
The Veterans Charity
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Costs of generating funds comprise trading costs for fundraising purposes. Charitable expenditure comprise costs incurred in delivery of activities for its beneficiaries. It includes costs allocated directly to such activities and costs of an indirect nature necessary to support them. Governance costs include costs associated with meeting constitutional and statutory requirements of the charity, and costs linked to the strategic management of the charity. All costs are allocated between expenditure categories of the SoFA on a basis designed to reflect the use of the resource.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 20% reducing balance
- 14 -
The Veterans Charity
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
3. Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The company is limited by guarantee and is no under the control of any one person.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations (including event and merchandising | |||
| income) | 118,886 | – | 118,886 |
| Grants | |||
| Restricted Grants | – | 110,500 | 110,500 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 118,886 | 110,500 | 229,386 | |
| ================================ | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations (including event and merchandising | |||
| income) | 151,680 | – | 151,680 |
- 15 -
The Veterans Charity
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
5. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Grants | |||
| Restricted Grants | – | 25,000 | 25,000 |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| 151,680 | 25,000 | 176,680 | |
| ================================ | ============================ | ================================ |
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subject to restrictions on their expenditure imposed by the donor. Grants totaling £110,500 (2021 -£25,000) were restricted for use solely the delivery of support services.
6. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 20 | 20 | 10 | 10 |
| ============== | ============== | ============== | ============== | |
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Veterans, Welfare | 153,087 | 59,729 | 212,817 | |
| Support costs | 8,388 | – | 8,387 | |
| -------------------------------- | ---------------------------- | -------------------------------- | ||
| 161,475 | 59,729 | 221,204 | ||
| ================================ | ============================ | ================================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Veterans Welfare | 160,686 | – | 160,686 | |
| Support costs | 6,695 | – | 6,695 | |
| -------------------------------- | -------------- | -------------------------------- | ||
| 167,381 | – | 167,381 | ||
| ================================ | ============== | ================================ |
7. Expenditure on charitable activities by fund type
- 16 -
The Veterans Charity
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
8. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Veterans Welfare | 212,817 | – | 212,817 | 160,686 |
| Governance costs | – | 8,387 | 8,387 | 6,695 |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | |
| 212,817 | 8,387 | 221,204 | 167,381 | |
| ================================ | ======================= | ================================ | ================================ |
Costs in respect of direct charitable activity unrestricted income can be allocated as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Merchandise | 24,510 | 18,942 |
| Vehicle hire & motor | 11,550 | 5,157 |
| Veterans’ provisions, welfare and equipment ** | 27,693 | 64,904 |
| Support costs | 40,684 | 40,437 |
| Rent & Office costs | 10,999 | 8,750 |
| Tools & Equipment | 3,726 | 107 |
| Travel/accommodation, subsistence, fuel, event expenses | 21,705 | 10,895 |
| Depreciation | 789 | 375 |
| Advertising PR | 5,207 | 7,563 |
| Venue & entertainment hire | 6,255 | 3,555 |
| ---------- | -------- | |
| Total | 153,087 | 160,686 |
** Costs in respect of Veterans Provision, Welfare and Equipment is now split £27,693 paid out above from Unrestricted Income and £59,729 is paid out separately from "Restricted income received in 2022.
Costs include travel by trustees to all parts of the country to assess non-medical welfare needs, make follow up visits, obtain equipment etc.
Governance Costs
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accountancy fees | 3,956 | 2,445 |
| Sundry | 1,198 | 912 |
| Insurance | 1,985 | 1,852 |
| Computer & stationery | 1,022 | 1,417 |
| Telephone | 226 | 69 |
| -------- | -------- | |
| Total | 8,387 | 6,695 |
- 17 -
The Veterans Charity
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2022
9. Net income
Net income is stated after charging/(crediting):
| Net income is stated after charging/(crediting): | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 790 | 375 |
| Operating lease rentals | 3,726 | 107 |
| ======================= | ============== |
10. Staff costs
The average head count of employees during the year was Nil (2021: Nil).
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
11. Trustee remuneration and expenses
No remuneration is paid to the Trustees during the period.
12. Tangible fixed assets
| Equipment | Total | ||
|---|---|---|---|
| £ | £ | ||
| Cost | |||
| At 1 January 2022 | 6,101 | 6,101 | |
| Additions | 2,448 | 2,448 | |
| ----------------------- | ----------------------- | ||
| At 31 December 2022 | 8,549 | 8,549 | |
| ======================= | ======================= | ||
| Depreciation | |||
| At 1 January 2022 | 4,671 | 4,671 | |
| Charge for the year | 790 | 790 | |
| ----------------------- | ----------------------- | ||
| At 31 December 2022 | 5,461 | 5,461 | |
| ======================= | ======================= | ||
| Carrying amount | |||
| At 31 December 2022 | 3,088 | 3,088 | |
| ======================= | ======================= | ||
| At 31 December 2021 | 1,430 | 1,430 | |
| ======================= | ======================= | ||
| 13. | Stocks | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Raw materials and consumables | 8,500 | 8,500 | |
| ======================= | ======================= | ||
| 14. | Creditors: amounts falling due within one year | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Accruals and deferred income | 2,690 | 2,670 | |
| ======================= | ======================= |
- 18 -
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 January | 20 | 31 December | ||||
| 22 | Income | Expenditure | 2022 | |||
| £ | £ | £ | £ | |||
| General funds | 72,311 | 118,906 | (161,475) | 29,742 |
||
| ============================ | ================================ | ================================ | ============================ | |||
| At | At | |||||
| 1 January | 20 | 31 December | ||||
| 21 | Income | Expenditure | 2021 | |||
| £ | £ | £ | £ | |||
| General funds | 63,002 | 151,690 | (167,381) | 47,311 |
||
| ============================ | ================================ | ================================ | ============================ | |||
| Restricted funds | ||||||
| At | At | |||||
| 1 January | 20 | 31 December | ||||
| 22 | Income | Expenditure | 2022 | |||
| £ | £ | £ | £ | |||
| Restricted Fund 1 - desc in a/cs | – | 110,500 | (59,729) | 50,771 |
||
| ============== | ================================ | ============================ | ============================ | |||
| At | At | |||||
| 1 January | 20 | 31 December | ||||
| 21 | Income | Expenditure | 2021 | |||
| £ | £ | £ | £ | |||
| Restricted Fund 1 - desc in a/cs | – | 25,000 | – | 25,000 | ||
| ============== | ============================ | ============== | ============================ | |||
| 16. | Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | |||||
| Funds | 2022 | |||||
| £ | £ | |||||
| Tangible fixed assets | – | – | ||||
| ============== | ============== | |||||
| Unrestricted | Total Funds | |||||
| Funds | 2021 | |||||
| £ | £ | |||||
| Tangible fixed assets | 1,325 | 1,325 | ||||
| ======================= | ======================= | |||||
| 17. | Analysis of changes in net debt | |||||
| At | At | |||||
| 1 Jan 2022 | Cash flows | 31 Dec 2022 | ||||
| £ | £ | £ | ||||
| Cash at bank and in hand | 65,051 | 6,564 | 71,615 | |||
| ============================ | ======================= | ============================ |
18. Related parties
The company was under the control of the management committee throughout the entire period. The company is limited by guarantee and is not under the control of any one person. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.
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