**REGISTERED CHARITY NUMBER: 1125969**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **FOR**
**UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
Gibson Whitter Chartered Accountants and Chartered Tax Advisers Larch House Parklands Business Park Denmead Hampshire PO7 6XP
**UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Cash Flow Statement**||8||
|**Notes to the Cash Flow Statement**||9||
|**Notes to the Financial Statements**|10|to|22|
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 January 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The fund exists for the collective benefit of the Unit as a whole, with particular emphasis on benefits to the Recruits, Marines and Junior Ranks, in order to provide the appropriate facilities to enhance the military and individual skills of all its personnel.
The objects of the Fund are for the promotion of efficiency of the Armed Forces of the Crown by the provision and support of facilities and activities for the efficiency and well-being of service personnel.
The fund carries out these objects by:
Providing and assisting service personnel to more effectively perform their roles within the Armed Forces of the Crown by providing and supporting social activities, sporting and adventure training activities and associated facilities. This assistance enables service personnel to face the challenges and danger associated with military service by developing and maintaining their teamwork; skills; fitness; confidence, character, spirit, attitude and morale. As a result the fund promotes the efficiency of the Armed Forces of the Crown by enhancing the capability of the Royal Marines to undertake the roles demanded of it including the defence of the United Kingdom and its interests.
Income to the Charity is derived from various grants, subscriptions, surpluses from the regimental shop and laundrette venture, interest and occasional donations. The laundrette was adversely affected by the Covid pandemic as it was not possible to offer service washing. The regimental shops turnover was comparable to the previous year despite the pandemic. Income has decreased this year due to to the reduction in laundrette income and Gainshare. The charity received Coronavirus Job Retention Scheme grants which helped retain employees. Expenditure on amenities decreased as many events were cancelled due to the pandemic although grants paid remained at a similar to the previous year. Grants were paid to many groups and individuals to pursue activities that have enhanced military efficiency, improved morale and enhanced the general welfare of the beneficiaries of the fund.
In allocating these grants the Management has considered the impact on the fund/account and where necessary has designated the amounts shown in the accounts to be carried over to the following year which represent the amounts allocated but not yet spent.
The activities of the charity in the form of social and occasional sporting events are accounted for by means of designated and restricted funds. The Management find that by using these funds to analyse the income and expenditure, it can control the various projects with more ease for current and future charitable objects.
The summary of income and expenditure relating to the various funds can be found at note 22.
Page 1
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2021**
## **OBJECTIVES AND ACTIVITIES**
## **Grant Making Policy**
The policy of the Trustee is to manage the Fund's affairs with prudence taking into consideration the long term as well as a short term view of the fund, whilst expending the income in accordance with the purpose laid down in the Fund's Charter. Grants to groups and individuals are made within the bounds of the charter.
Fund meetings are held regularly and at least once per term, where the management committee will consider bids and applications to the fund. Any bids falling outside the bounds of the charter are not normally approved unless they are within the spirit of the aim of the fund charter.
## **Public Benefit**
The Charity exists to support the military efficiency of the Royal Marines. By improving morale and Esprit de Corps amongst members of the Corps family the Charity directly contributes to the quality of the Royal Marines as a key component of the nation's Armed Forces and thereby to the defence of the nation. The Trustee has complied with the duty in the Charities Act 2011 and given regard to the Charity Commission.
## **FINANCIAL REVIEW**
## **Financial position**
There has been a steady income and expenditure flow within the accounting period despite the Covid pandemic and the fund is operating as a going concern with sufficient funds available for the day to day and future activities. Total income for the year amounted to £441,203 (2020: £566,030). This income was mainly from the shop and laundrette activity and grants to the Charity. Total resources expended amounted to £459,276 (2020: £505,233); the total fund balance carried forward at the end of the year amounted to £682,365.
The Trustee is satisfied with the performance of the fund over the last accounting period and considers that expenditure has been within the Charter of the Fund.
## **Reserves policy**
The Trustee's policy is to maintain a sufficient level of reserves within investments, current balance £322,903, to cover a redundancy contingency for the civilian staff of six months wages, £40,000 and sufficient to cover the laundrette equipment rental liability, currently £17,218; however, this liability could increase back to £270,000 if a new contract is signed in Sep 2021. This policy provides a stable base for the Charity's continuing activities. General reserves are normally only maintained at a level which is sufficient to meet the running costs of the Charity, a working capital of £40,000 is maintained to meet this requirement and the remaining reserves are used to make grants in accordance with the Charity's objectives on a regular basis.
At 31 January 2021 the fund had free reserves of £66k. This is calculated as follows:
||**£'000**|
|---|---|
|Net assets|682|
|Less:
Restricted funds|(2)|
|Designated funds|(166)|
|Functional fixed assets|(34)|
|Investments as noted above|(322)|
|Stock|(110)|
|Add:
Laundrette equipment liability|17|
|||
||66|
|||
This indicates that the fund had excess reserves of £26k at 31 January 2021. This is a reduction on the surplus at 31 January 2020 (£40K). The trustee continues to consider options to reduce the level of excess reserves including the need to increase retained reserves to offset expected future cuts in income.
Page 2
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2021**
## **FINANCIAL REVIEW**
## **Financial Risk Management**
The Trustee's view is that a good level of reserves and the low administrative costs of the Charity mean that its exposure to risk is very limited. The Trustee, as a matter of principle, does not accept any obligations on behalf of the Charity without having the funds immediately available to meet those obligations.
The internal checks and controls governed by Service Regulations ensure that regular and random checks are applied to the Charity to safeguard its assets and grant making policy.
## **Investment Policy**
The Trustee has the power to invest in such assets as he sees fit within the restrictions of the Investment Policy laid down in Service Fund Regulations Chapter 8. Currently the investments are held within a managed account with the RNRMC's Investment portfolio with Cazenove Capital Management. The Trustee's aim is to invest all funds surplus to immediate requirements in interest bearing accounts to maximise the returns.
## **FUTURE PLANS**
The charitable objectives for the forthcoming year are to:
- Provide the appropriate amenities for the personnel of the Unit; predominantly aimed at meeting the needs of the Recruits and other trainees training at the Centre.
- Make appropriate grants and to maintain and enhance the performance of the personnel within the organisation.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The Governing Document, in conjunction with the Charter details the aim, purpose, roles and responsibilities and objectives; ensuring the correct governance and management within the Unit Institute Fund. The Charter is to be reviewed annually by the UIF Committee, last review date 31 January 2021.
The account of the Commando Training Centre Royal Marines (CTCRM) Unit Institute Fund was created to provide amenities, entertainment and facilities for the personnel of the Unit not otherwise provided for by the public purse and also to promote military efficiency and well being. The Commanding Officer Support Wing at CTCRM is the sole Managing Trustee in line with current Service Regulations. The Trustee is therefore selected by appointment from within the Royal Marines and will generally change at regular intervals. Trustees are inducted by appointment and will have received training in account management in accordance with Service Fund Regulations and whose duties are laid down in Queens Regulations.
The Trustee has delegated the day to day running of the account to nominated representatives from within the unit organisation. Fund committee meetings are held on a frequent basis and have been structured to provide a wide representation of personnel to represent the best interests of the Charity. However, all decisions are minuted and approved by the Trustee as laid down within the charter.
## **Risk management**
The Management has considered the major risks to which the charity is exposed. These risks have been reviewed and the management have established systems and procedures to manage them. The Trustee considers by reviewing the accounts monthly, the management are able to manage and review the income over expenditure.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1125969
Page 3
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2021**
## **Principal address**
Commando Training Centre Royal Marines Lympstone Devon EX8 5AR
## **Trustees**
Lt Col S J Tamlyn (resigned 7.9.20) Lt Col C D R Samuel (appointed 7.9.20)
## **Independent Examiner**
Gibson Whitter Chartered Accountants and Chartered Tax Advisers Larch House Parklands Business Park Denmead Hampshire PO7 6XP
Approved by order of the board of trustees on 8 September 2021 and signed on its behalf by:
Lt Col C D R Samuel - Trustee
Page 4
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **Independent examiner's report to the trustees of Unit Institute Fund, Commando Training Centre Royal Marines (UIF CTCRM)**
I report to the charity trustees on my examination of the accounts of Unit Institute Fund, Commando Training Centre Royal Marines (UIF CTCRM) (the Trust) for the year ended 31 January 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Gavin Whitter ICAEW Gibson Whitter Chartered Accountants and Chartered Tax Advisers Larch House Parklands Business Park Denmead Hampshire PO7 6XP
9 September 2021
Page 5
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
13,935
**Charitable activities**
5
Amenities
506
UIF Shop
299,971
UIF Laundrette
91,407
Other trading activities
3
17,228
Investment income
4
8,246
Other income
9,910
**Total**
441,203
**EXPENDITURE ON**
**Charitable activities**
6
Amenities
70,183
UIF Shop
277,890
UIF Laundrette
111,203
**Total**
459,276
Net gains/(losses) on investments
(3,220)
**NET INCOME/(EXPENDITURE)**
(21,293)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
702,143
**TOTAL FUNDS CARRIED FORWARD**
680,850|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,515
1,515|31.1.21
Total
funds
£
13,935
506
299,971
91,407
17,228
8,246
9,910
441,203
70,183
277,890
111,203
459,276
(3,220)
(21,293)
703,658
682,365|31.1.20
Total
funds
£
53,193
6,760
312,857
142,412
37,700
13,108
-|
|---|---|---|---|
||||566,030
118,400
268,236
118,597|
||||505,233
4,967|
||||65,764
637,894|
||||703,658|
The notes form part of these financial statements
Page 6
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **BALANCE SHEET 31 JANUARY 2021**
|Notes
**FIXED ASSETS**
Tangible assets
13
Investments
14
**CURRENT ASSETS**
Stocks
15
Debtors
16
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
17
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
18
**NET ASSETS**
**FUNDS**
22
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|31.1.21
£
33,714
322,903
356,617
109,719
14,520
223,758
347,997
(22,249)
325,748
682,365
-
682,365
680,850
1,515
682,365|31.1.20
£
70,898
326,123
397,021
86,010
13,358
269,539
368,907
(45,052)
323,855
720,876
(17,218)
703,658
702,143
1,515
703,658|
|---|---|---|
The financial statements were approved and authorised for issue by the Board of Trustees and authorised for issue on 8 September 2021 and were signed on its behalf by:
Lt Col C D R Samuel - Trustee
The notes form part of these financial statements
Page 7
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JANUARY 2021**
|||31.1.21|31.1.20|
|---|---|---|---|
||Notes|£|£|
|**Cash flows from operating activities**||||
|Cash generated from operations|1|(17,591)|87,162|
|Net cash (used in)/provided by operating activities||(17,591)|87,162|
|**Cash flows from investing activities**||||
|Purchase of tangible fixed assets||(2,000)|(757)|
|Interest received||815|1,218|
|Dividends received||7,431|11,890|
|Net cash provided by investing activities||6,246|12,351|
|**Cash flows from financing activities**||||
|Capital repayments in year||(34,436)|(34,436)|
|Net cash used in financing activities||(34,436)|(34,436)|
|||||
|**Change in cash and cash equivalents**||||
|**in the reporting period**||(45,781)|65,077|
|**Cash and cash equivalents at the**||||
|**beginning of the reporting period**||269,539|204,462|
|**Cash and cash equivalents at the end**||||
|**of the reporting period**||223,758|269,539|
The notes form part of these financial statements
Page 8
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JANUARY 2021**
## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net (expenditure)/income for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Losses/(gain) on investments
Interest received
Dividends received
Increase in stocks
Increase in debtors
(Decrease)/increase in creditors
**Net cash (used in)/provided by operations**|31.1.21
£
(21,293)
39,184
3,220
(815)
(7,431)
(23,709)
(1,162)
(5,585)
(17,591)|31.1.20
£
65,764
39,660
(4,967)
(1,218)
(11,890)
(6,592)
(1,545)
7,950
87,162|
|---|---|---|
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.2.20|Cash flow|At 31.1.21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|269,539|(45,781)|223,758|
||269,539|(45,781)|223,758|
|**Debt**||||
|Finance leases|(51,654)|34,436|(17,218)|
||(51,654)|34,436|(17,218)|
|**Total**|217,885|(11,345)|206,540|
The notes form part of these financial statements
Page 9
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
Voluntary income including donations, gifts and legacies and grants that provide funding of a general nature are recognised where there is entitlement, the receipt is probable and the amount can be measured with sufficient reliability. Such income is only deferred when:
- the donor specifies that the grant or donation must only be used in future accounting periods; or
- the donor has imposed conditions which must be met before the charity has unconditional entitlement.
Income from activities for generating funds, such as vending and amusement income, are recognised on a receivable basis.
Investment income is recognised on a receivable basis.
Income from charitable activities relates to shop sales, laundrette sales and amenities income. Such income is recognised on a receivable basis.
## **Volunteers and donated services**
The value of services provided by volunteers is not incorporated into these financial statements.
Where goods or services are provided to the charity as a donation that would normally be purchased from suppliers, this contributions is included in the financial statements at an estimate based on the value of the contribution to the charity.
## **Expenditure**
Expenditure is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied.
- Costs of generating funds are those costs incurred in attracting voluntary income.
- Charitable activities include expenditure associated with the shop, laundrette and amenities and include both the direct costs and support costs relating to those activities.
- Support and governance costs include central functions and have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Irrecoverable vat**
All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 20% on cost
Page 10
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **1. ACCOUNTING POLICIES - continued**
**Tangible fixed assets** Motor vehicles - 10% on cost
Individual fixed assets costing £500 or more are capitalised at cost.
## **Fixed asset investments**
Investments are stated at market value inclusive of accrued income as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between the market value at the end of the year and opening market value or purchase date if later. Realised and unrealised gains are not separated in the Statement of Financial Activities.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Stock is valued on an average cost basis.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Hire purchase and leasing commitments**
Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.
The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 11
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
|**2.**
**DONATIONS AND LEGACIES**
Donations
Grants
Gainshare income
Grants received, included in the above, are as follows:
Other Grants
TRMC
**3.**
**OTHER TRADING ACTIVITIES**
Vending and amusement income
**4.**
**INVESTMENT INCOME**
Listed investments
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Amenity income
Amenities
Transit van income
Amenities
Entertainment income
Amenities
Shop sales
UIF Shop
Laundry income
UIF Laundrette|31.1.21
£
8,533
931
4,471
13,935
31.1.21
£
931
-
931
31.1.21
£
17,228
31.1.21
£
7,431
815
8,246
31.1.21
£
42
464
-
299,971
91,407
391,884|31.1.20
£
9,391
21,500
22,302
53,193
31.1.20
£
-
21,500
21,500
31.1.20
£
37,700
31.1.20
£
11,890
1,218
13,108
31.1.20
£
-
315
6,445
312,857
142,412|31.1.20
£
9,391
21,500
22,302|
|---|---|---|---|
||||53,193|
||||31.1.20
£
-
21,500|
||||21,500|
||||31.1.20
£
37,700|
||||31.1.20
£
11,890
1,218|
||||13,108|
|||462,029||
Page 12
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **6. CHARITABLE ACTIVITIES COSTS**
|**CHARITABLE ACTIVITIES COSTS**|||||
|---|---|---|---|---|
|Amenities
UIF Shop
UIF Laundrette|Direct
Costs (see
note 7)
£
30,404
273,998
107,311
411,713|Grant
funding of
activities
(see note
8)
£
35,886
-
-
35,886|Support
costs (see
note 9)
£
3,893
3,892
3,892
11,677|Totals
£
70,183
277,890
111,203|
|||||459,276|
## **7. DIRECT COSTS OF CHARITABLE ACTIVITIES**
|Staff costs
Transit van expenditure
TV licences
Cost of goods - shop
Shop expenses
Cost of goods - laundry
Laundry rental costs
Entertainment expenditure
Finance lease interest
Vending machine expenses
Depreciation
**GRANTS PAYABLE**
Amenities|31.1.21
£
90,274
2,649
315
225,756
6,725
6,190
(615)
3,598
29,008
13,377
34,436
411,713
31.1.21
£
35,886|31.1.20
£
77,858
1,421
309
223,313
6,041
13,085
4,677
37,306
29,008
27,795
34,436|
|---|---|---|
|||455,249|
|||31.1.20
£
37,384|
## **8. GRANTS PAYABLE**
There were no grants to institutions paid during the year (31.1.20: none).
## **9. SUPPORT COSTS**
|**SUPPORT COSTS**||
|---|---|
|Governance
Management
costs
£
£
Amenities
3,132
761
UIF Shop
3,131
761
UIF Laundrette
3,131
761
9,394
2,283|Totals
£
3,893
3,892
3,892|
||11,677|
Page 13
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **9. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
## **Management**
|UIF
Amenities
UIF Shop
Laundrette
£
£
£
Insurance
533
533
533
Postage and stationery
-
-
-
Sundries
-
-
-
Repairs and maintenance
-
-
-
Donations
601
599
599
Presentation expenditure
4
3
3
Bank charges
412
413
413
Depreciation
1,582
1,583
1,583
3,132
3,131
3,131
**Governance costs**
UIF
Amenities
UIF Shop
Laundrette
£
£
£
Independent examination
fee
425
425
425
Accountancy and legal
fees
336
336
336
761
761
761|31.1.21
Total
activities
£
1,599
-
-
-
1,799
10
1,238
4,748
9,394
31.1.21
Total
activities
£
1,275
1,008
2,283|31.1.20
Total
activities
£
1,600
86
32
162
1,405
123
1,471
5,224|31.1.20
Total
activities
£
1,600
86
32
162
1,405
123
1,471
5,224|
|---|---|---|---|
|||10,103||
|||31.1.20
Total
activities
£
1,300
1,197
2,497||
||||2,497|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There was no trustee's remuneration or other benefits for the year ended 31 January 2021 nor for the year ended 31 January 2020.
## **Trustees' expenses**
There was no trustee's expenses paid for the year ended 31 January 2021 nor for the year ended 31 January 2020.
## **11. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable activities|31.1.21
£
85,861
3,410
1,003
90,274
31.1.21
9|31.1.20
£
72,628
4,005
1,225|
|---|---|---|
|||77,858|
|||31.1.20
7|
Page 14
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **11. STAFF COSTS - continued**
No employees received emoluments in excess of £60,000.
The number of full time equivalent employees during the year was 7 (31.1.20: 6).
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
53,193
**Charitable activities**
Amenities
6,760
UIF Shop
312,857
UIF Laundrette
142,412
Other trading activities
37,700
Investment income
13,108
**Total**
566,030
**EXPENDITURE ON**
**Charitable activities**
Amenities
117,880
UIF Shop
268,236
UIF Laundrette
118,597
**Total**
504,713
Net gains on investments
4,967
**NET INCOME/(EXPENDITURE)**
66,284
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
635,859
**TOTAL FUNDS CARRIED FORWARD**
702,143|Restricted
funds
£
-
-
-
-
-
-
-
520
-
-
520
-
(520)
2,035
1,515|Total
funds
£
53,193
6,760
312,857
142,412
37,700
13,108|
|---|---|---|
|||566,030
118,400
268,236
118,597|
|||505,233
4,967|
|||65,764
637,894|
|||703,658|
Page 15
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **13. TANGIBLE FIXED ASSETS**
|||Motor||
|---|---|---|---|
||Equipment|vehicles|Totals|
||£|£|£|
|**COST**||||
|At 1 February 2020|300,563|10,495|311,058|
|Additions|2,000|-|2,000|
|Disposals|(5,470)|-|(5,470)|
|At 31 January 2021|297,093|10,495|307,588|
|**DEPRECIATION**||||
|At 1 February 2020|238,661|1,499|240,160|
|Charge for year|37,685|1,499|39,184|
|Eliminated on disposal|(5,470)|-|(5,470)|
|At 31 January 2021|270,876|2,998|273,874|
|**NET BOOK VALUE**||||
|At 31 January 2021|26,217|7,497|33,714|
|At 31 January 2020|61,902|8,996|70,898|
Fixed assets, included in the above, which are held under finance leases are as follows:
|||Equipment|
|---|---|---|
|||£|
||**COST**||
||At 1 February 2020 and 31 January 2021|275,488|
||**DEPRECIATION**||
||At 1 February 2020|223,834|
||Charge for year|34,436|
||At 31 January 2021|258,270|
||**NET BOOK VALUE**||
||At 31 January 2021|17,218|
||At 31 January 2020|51,654|
|**14.**|**FIXED ASSET INVESTMENTS**||
|||Listed|
|||investments|
|||£|
||**MARKET VALUE**||
||At 1 February 2020|326,123|
||Revaluations|(3,220)|
||At 31 January 2021|322,903|
||**NET BOOK VALUE**||
||At 31 January 2021|322,903|
||At 31 January 2020|326,123|
Page 16
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **14. FIXED ASSET INVESTMENTS - continued**
45.4% of the total investment fund is held in non-UK investments.
Listed investments represent the charity's funds invested in the Royal Navy and Royal Marines Charity's common investment fund. The charity's investments represent 0.6% of the investment fund.
## **15. STOCKS**
|Shop stock
Laundry vending stock
**16.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments
**17.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Finance leases (see note 19)
Social security and other taxes
Other creditors
**18.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Finance leases (see note 19)
**19.**
**LEASING AGREEMENTS**
Minimum lease payments under finance leases fall due as follows:
Net obligations repayable:
Within one year
Between one and five years|31.1.21
31.1.20
£
£
108,180
84,012
1,539
1,998
109,719
86,010
31.1.21
31.1.20
£
£
5,005
8,005
9,515
5,353
14,520
13,358
31.1.21
31.1.20
£
£
17,218
34,436
3,731
9,292
1,300
1,324
22,249
45,052
31.1.21
31.1.20
£
£
-
17,218
Finance leases
31.1.21
31.1.20
£
£
17,218
34,436
-
17,218
17,218
51,654||31.1.20
£
84,012
1,998|
|---|---|---|---|
||||86,010|
||||31.1.20
£
8,005
5,353|
||||13,358|
||||31.1.20
£
34,436
9,292
1,324|
||||45,052|
||||31.1.20
£
17,218|
||||51,654|
Page 17
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **20. SECURED DEBTS**
The following secured debts are included within creditors:
||31.1.21|31.1.20|
|---|---|---|
||£|£|
|Finance leases|17,218|51,654|
Finance lease liabilities are secured against the assets being financed.
## **21. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Unrestricted
funds
£
Fixed assets
33,714
Investments
322,903
Current assets
346,482
Current liabilities
(22,249)
Long term liabilities
-
680,850
**MOVEMENT IN FUNDS**
At 1.2.20
£
**Unrestricted funds**
General fund
511,001
PAYD Gainshare
118,578
OR's Christmas Dinner
-
Unit Bonfire Night
-
Catering Maintenance
3,328
M&E Award fund
539
Business Development Fund
67,949
Events fund
748
702,143
**Restricted funds**
Function Room Refurbishment fund
1,515
**TOTAL FUNDS**
703,658|Restricted
funds
£
-
-
1,515
-
-
1,515
Net
movement
in funds
£
(3,250)
(14,409)
(3,598)
-
-
(36)
-
-
(21,293)
-
(21,293)|31.1.21
Total
funds
£
33,714
322,903
347,997
(22,249)
-
682,365
Transfers
between
funds
£
7,349
(8,018)
3,598
4,420
-
-
(7,349)
-
-
-
-|31.1.20
Total
funds
£
70,898
326,123
368,907
(45,052)
(17,218)|
|---|---|---|---|
||||703,658|
||||At
31.1.21
£
515,100
96,151
-
4,420
3,328
503
60,600
748|
||||680,850
1,515|
||||682,365|
## **22. MOVEMENT IN FUNDS**
Page 18
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **22. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
PAYD Gainshare
OR's Christmas Dinner
M&E Award fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
PAYD Gainshare
OR's Christmas Dinner
Kids Christmas Party
Unit Bonfire Night
Catering Maintenance
M&E Award fund
Business Development Fund
Events fund
**Restricted funds**
Function Room Refurbishment fund
**TOTAL FUNDS**|Incoming
resources
£
436,711
4,492
-
-
441,203
441,203
At 1.2.19
£
484,080
123,287
-
-
-
3,328
842
24,322
-
635,859
2,035
637,894|Resources
expended
£
(436,741)
(18,901)
(3,598)
(36)
(459,276)
(459,276)
Net
movement
in funds
£
70,548
7,658
(5,082)
(2,097)
(5,188)
-
(303)
-
748
66,284
(520)
65,764|Gains and
Movement
losses
in funds
£
£
(3,220)
(3,250)
-
(14,409)
-
(3,598)
-
(36)
(3,220)
(21,293)
(3,220)
(21,293)
Transfers
between
At
funds
31.1.20
£
£
(43,627)
511,001
(12,367)
118,578
5,082
-
2,097
-
5,188
-
-
3,328
-
539
43,627
67,949
-
748
-
702,143
-
1,515
-
703,658|
|---|---|---|---|
Page 19
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **22. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
PAYD Gainshare
OR's Christmas Dinner
Kids Christmas Party
Unit Bonfire Night
Families Day
M&E Award fund
Events fund
**Restricted funds**
Function Room Refurbishment fund
**TOTAL FUNDS**|Incoming
resources
£
515,462
22,303
-
166
2,788
24,402
-
909
566,030
-
566,030|Resources
expended
£
(449,881)
(14,645)
(5,082)
(2,263)
(7,976)
(24,402)
(303)
(161)
(504,713)
(520)
(505,233)|Gains and
Movement
losses
in funds
£
£
4,967
70,548
-
7,658
-
(5,082)
-
(2,097)
-
(5,188)
-
-
-
(303)
-
748
4,967
66,284
-
(520)
4,967
65,764|
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
PAYD Gainshare
OR's Christmas Dinner
Kids Christmas Party
Unit Bonfire Night
Catering Maintenance
M&E Award fund
Business Development Fund
Events fund
**Restricted funds**
Function Room Refurbishment fund
**TOTAL FUNDS**|At 1.2.19
£
484,080
123,287
-
-
-
3,328
842
24,322
-
635,859
2,035
637,894|Net
movement
in funds
£
67,298
(6,751)
(8,680)
(2,097)
(5,188)
-
(339)
-
748
44,991
(520)
44,471|Transfers
between
funds
£
(36,278)
(20,385)
8,680
2,097
9,608
-
-
36,278
-
-
-
-|At
31.1.21
£
515,100
96,151
-
-
4,420
3,328
503
60,600
748|
|---|---|---|---|---|
|||||680,850
1,515|
|||||682,365|
Page 20
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **22. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
952,173
PAYD Gainshare
26,795
OR's Christmas Dinner
-
Kids Christmas Party
166
Unit Bonfire Night
2,788
Families Day
24,402
M&E Award fund
-
Events fund
909
1,007,233
**Restricted funds**
Function Room Refurbishment fund
-
**TOTAL FUNDS**
1,007,233|Resources
expended
£
(886,622)
(33,546)
(8,680)
(2,263)
(7,976)
(24,402)
(339)
(161)
(963,989)
(520)
(964,509)|Gains and
Movement
losses
in funds
£
£
1,747
67,298
-
(6,751)
-
(8,680)
-
(2,097)
-
(5,188)
-
-
-
(339)
-
748
1,747
44,991
-
(520)
1,747
44,471|
|---|---|---|
## **PAYD Gainshare**
PAYD Gainshare dividend is now from the Hestia soft facilities management contract and all funds are non-public money. It is used in line with UIF charter. Primarily used for the greater good of all those working at CTCRM. The CO is the fund manager.
## **OR's Christmas Dinner**
Internal grant made to account to facilitate the other rank's Christmas Dinner, any balance left is returned to the general fund.
## **Catering Maintenance**
Monies granted from the closed Catering Amenity fund. To be used to maintain and replace UIF purchased catering equipment i.e. BBQ's.
## **Children's Christmas Party**
Internal grant made to account to facilitate Children's Christmas Dinner, any balance left is returned to the general fund.
## **Families Day**
Used to facilitate Families' Day and receive grants etc, any balance left is returned to the general fund.
## **Unit Bonfire Night fund**
Used to facilitate the Unit bonfire night display and received grants. Any balance left is returned to the general fund.
## **M&E Awards fund**
Moral & Efficiency Fund - established within the UIF in April 14, £500 of the bi-annual TRMC Grant to the UIF is put into the new Fund to allow funding for Unit Moral & Efficiency Awards, mainly used at the end of term 'Clear Lower Deck' (Presented by the Comdt or CO SPTW).
Page 21
continued...
## **UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2021**
## **22. MOVEMENT IN FUNDS - continued**
## **Business Development Fund**
Business development Fund - established within the UIF in November 17, in order to facilitate larger projects for the improvement of the UIF capability to support the Unit; shop refurbishment, laundry improvement, replacement transit van, and ultimately a self-sustaining fund that can meet any shortfalls from the changes in Gainshare allocation in the future.
## **Function Room Refurbishment Fund**
The Function Room Refurbishment Fund has been raised as a Restricted Fund within the UIF, on receipt of a kind charitable donation from Lt Col P H Scarf RM (Rtd). This money was donated to the Unit to help to fund the refurbishment work for the main reception rooms at CTCRM. Lt Col Scarf RM placed no naming constraints for the refurbished rooms, however it was requested that his donation was linked to either RM Bickleigh or HMS Bulwark (R08). Further funding for the project is going to requested through RNRMC and TRMC, as well as Unit contributions.
## **Events Fund**
Events Fund - established within the UIF in 2020 for the end of term band concerts held on camp. The ticket sales for these events will be used to pay associated expenses of these events. This event fund is intended to continue in order that the end of term concerts are cost neutral to the camp.
## **23. RELATED PARTY DISCLOSURES**
## **Ministry of Defence**
The charity works closely with the Ministry of Defence (MOD). Some of the charity's personnel are employed by the MOD and the charity operates from MOD premises for which no charge is incurred. The amount of time spent by MOD personnel or the amount of MOD premises space utilised by the charity is not discrete from other MOD responsibilities. Therefore no value has been recognised as donated services within these financial statements for the use of MOD personnel and premises.
## **24. ULTIMATE CONTROLLING PARTY**
The charity is under the control of the trustee.
Page 22