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← Unit Institute Fund, Commando Training Centre Royal Marines (Uif Ctcrm)

2024-01-31-accounts

REGISTERED CHARITY NUMBER: 1125969

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

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 2024

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 2024

The trustees present their report with the financial statements of the charity for the year ended 31 January 2024. 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 turnover has decreased after the Charity stopped service washes in the year. All washing machines have now had an AirWallet system installed to convert all machines to self service which reduces the cost for the recruits. The regimental shops turnover has increased due to inflation and the increase in selling price. The overall profit margin of the regimental shops has decreased over the last two years as the Charity has tried to support the recruits during the cost of living crisis. 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 20.

Page 1

UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024

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 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 £809,779 (2023: £649,537). This income was mainly from the shop and laundrette activity and grants to the Charity. Total resources expended amounted to £680,992 (2023: £615,239); the total fund balance carried forward at the end of the year amounted to £820,892.

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 £312,624, to cover a redundancy contingency for the civilian staff of six months wages, £40,000 and sufficient to cover the laundrette equipment operating lease rental, currently £159,550. 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 2024 the fund had free reserves of £113k. This is calculated as follows:

£'000
Net assets 821
Less:
Designated funds		 (213)
Functional fixed assets (12)
Investments as noted above (313)
Stock (127)
Laundrette equipment AirWallet system prepayment (43)
113

This indicates that the fund had excess reserves of £73k at 31 January 2024. This is an increase on the surplus at 31 January 2023 (£61K). 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 2024

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 and Sarasin & Partners LLP Investment Managers. 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:

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 2022.

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 Kings 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 2024

Principal address

Commando Training Centre Royal Marines Lympstone Devon EX8 5AR

Trustees

Lt Col C M I Hall MBE RM

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 10 July 2024 and signed on its behalf by:

Lt Col C M I Hall MBE RM - 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 2024.

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 member of the Institute of Chartered Accountants in England and Wales, 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

  2. 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

Gibson Whitter Chartered Accountants and Chartered Tax Advisers Larch House Parklands Business Park Denmead Hampshire PO7 6XP

16 July 2024

Page 5

UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
226,306
Charitable activities
5
Amenities
3,178
UIF Shop
425,853
UIF Laundrette
129,479
Other trading activities
3
16,416
Investment income
4
8,547
Total
809,779
EXPENDITURE ON
Charitable activities
6
Amenities
170,783
UIF Shop
402,188
UIF Laundrette
108,021
Total
680,992
Net gains/(losses) on investments
(8,592)
NET INCOME
120,195
RECONCILIATION OF FUNDS
Total funds brought forward
700,697
TOTAL FUNDS CARRIED FORWARD
820,892		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 31.1.24
Total
funds
£
226,306
3,178
425,853
129,479
16,416
8,547
809,779
170,783
402,188
108,021
680,992
(8,592)
120,195
700,697
820,892		 31.1.23
Total
funds
£
76,701
3,720
390,102
152,230
22,008
4,776
649,537
123,511
380,105
111,623
615,239
(14,071)
20,227
680,470
700,697

The notes form part of these financial statements

Page 6

UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)

BALANCE SHEET 31 JANUARY 2024

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
NET ASSETS
FUNDS
20
Unrestricted funds
TOTAL FUNDS		 31.1.24
£
11,787
312,624
324,411
127,183
90,918
288,252
506,353
(9,872)
496,481
820,892
820,892
820,892
820,892		 31.1.23
£
18,099
321,216
339,315
102,419
19,854
253,106
375,379
(13,997)
361,382
700,697
700,697
700,697
700,697

The financial statements were approved and authorised for issue by the Board of Trustees and authorised for issue on 10 July 2024 and were signed on its behalf by:

Lt Col C M I Hall MBE RM - 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 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Interest received
Dividends received
Net cash provided by investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 31.1.24
£
26,599
26,599
2,870
5,677
8,547
35,146
253,106
288,252		 31.1.23
£
50,509
50,509
46
4,730
4,776
55,285
197,821
253,106

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 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
31.1.24 31.1.23
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 120,195 20,227
Adjustments for:
Depreciation charges 6,312 6,952
Losses on investments 8,592 14,071
Interest received (2,870) (46)
Dividends received (5,677) (4,730)
Donated goods and services - (640)
(Increase)/decrease in stocks (24,764) 8,023
(Increase)/decrease in debtors (71,064) 10,526
Decrease in creditors (4,125) (3,874)
Net cash provided by operations 26,599 50,509

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.23 Cash flow At 31.1.24
£ £ £
Net cash
Cash at bank and in hand 253,106 35,146 288,252
253,106 35,146 288,252
Total 253,106 35,146 288,252

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 2024

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:

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.

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.

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 2024

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.

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.

2. DONATIONS AND LEGACIES

Donations
Grants
Donated services and facilities
Gainshare income		 31.1.24
£
20,354
41,900
-
164,052
226,306		 31.1.23
£
20,642
55,419
640
-
76,701

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 2024

2. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

Other Grants
RMA - The Royal Marines Charity
Rebalancing Lives
Gainshare
3.
OTHER TRADING ACTIVITIES
Vending and amusement income
4.
INVESTMENT INCOME
Listed investments
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Transit van income
Amenities
Entertainment income
Amenities
Shop sales
UIF Shop
Laundry income
UIF Laundrette
6.
CHARITABLE ACTIVITIES COSTS
Amenities
UIF Shop
UIF Laundrette		 Direct
Costs (see
note 7)
£
88,627
398,159
103,992
590,778		 Grant
funding of
activities
(see note
8)
£
78,129
-
-
78,129		 31.1.24
£
-
40,638
1,262
-
41,900
31.1.24
£
16,416
31.1.24
£
5,677
2,870
8,547
31.1.24
£
488
2,690
425,853
129,479
558,510
Support
costs (see
note 9)
£
4,027
4,029
4,029
12,085		 31.1.23
£
639
41,100
-
13,680
55,419
31.1.23
£
22,008
31.1.23
£
4,730
46
4,776
31.1.23
£
500
3,220
390,102
152,230		 31.1.23
£
639
41,100
-
13,680
55,419
31.1.23
£
22,008
546,052
Totals
£
170,783
402,188
108,021
680,992

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 2024

7. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Transit van expenditure
Sky subscriptions
TV licences
Cost of goods - shop
Shop expenses
Cost of goods - laundry
Laundry rental costs
Entertainment expenditure
Vending machine expenses
GRANTS PAYABLE
Amenities		 31.1.24
£
101,070
2,150
1,131
477
339,199
11,456
10,259
54,703
58,392
11,941
590,778
31.1.24
£
78,129		 31.1.23
£
104,477
2,322
936
477
308,836
10,165
16,850
54,703
38,522
16,183
553,471
31.1.23
£
48,907

8. GRANTS PAYABLE

There were no grants to institutions paid during the year (31.1.23: none).

9. SUPPORT COSTS

Governance
Management
costs
£
£
Amenities
3,177
850
UIF Shop
3,178
851
UIF Laundrette
3,178
851
9,533
2,552
Support costs, included in the above, are as follows:
Management
31.1.24
UIF
Total
Amenities
UIF Shop
Laundrette
activities
£
£
£
£
Insurance
449
450
449
1,348
Repairs and maintenance
30
30
30
90
Disbursements and travel
costs
-
-
-
-
Donations
77
76
76
229
Presentation expenditure
260
261
261
782
Bank charges
257
257
258
772
Depreciation
2,104
2,104
2,104
6,312
3,177
3,178
3,178
9,533		 Totals
£
4,027
4,029
4,029
12,085
31.1.23
Total
activities
£
1,471
66
59
517
490
883
6,952
10,438

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 2024

9. SUPPORT COSTS - continued Governance costs

Governance costs
31.1.24 31.1.23
UIF Total Total
Amenities UIF Shop Laundrette activities activities
£ £ £ £ £
Independent examination
fee 475 475 475 1,425 1,350
Accountancy and legal
fees 375 376 376 1,127 1,073
850 851 851 2,552 2,423

10. TRUSTEES' REMUNERATION AND BENEFITS

There was no trustee's remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023.

Trustees' expenses

There was no trustee's expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023.

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 31.1.24
£
98,366
1,039
1,665
101,070		 31.1.23
£
103,125
-
1,352
104,477

The average monthly number of employees during the year was as follows:

31.1.24 31.1.23
Charitable activities 6 8

No employees received emoluments in excess of £60,000.

The number of full time equivalent employees during the year was 5 (31.1.23: 6).

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 76,701 - 76,701
Charitable activities
Amenities 3,720 - 3,720
UIF Shop 390,102 - 390,102
UIF Laundrette 152,230 - 152,230
Other trading activities 22,008 - 22,008
Investment income 4,776 - 4,776

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 2024

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
Total
649,537
-
EXPENDITURE ON
Charitable activities
Amenities
122,423
1,088
UIF Shop
380,105
-
UIF Laundrette
111,623
-
Total
614,151
1,088
Net gains/(losses) on investments
(14,071)
-
NET INCOME/(EXPENDITURE)
21,315
(1,088)
RECONCILIATION OF FUNDS
Total funds brought forward
679,382
1,088
TOTAL FUNDS CARRIED FORWARD
700,697
-
13.
TANGIBLE FIXED ASSETS
Motor
Equipment
vehicles
£
£
COST
At 1 February 2023
28,512
10,495
Disposals
(900)
-
At 31 January 2024
27,612
10,495
DEPRECIATION
At 1 February 2023
14,911
5,997
Charge for year
4,813
1,499
Eliminated on disposal
(900)
-
At 31 January 2024
18,824
7,496
NET BOOK VALUE
At 31 January 2024
8,788
2,999
At 31 January 2023
13,601
4,498		 Total
funds
£
649,537
123,511
380,105
111,623
615,239
(14,071)
20,227
680,470
700,697
Totals
£
39,007
(900)
38,107
20,908
6,312
(900)
26,320
11,787
18,099

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 2024

14. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 February 2023 321,216
Revaluations (8,592)
At 31 January 2024 312,624
NET BOOK VALUE
At 31 January 2024 312,624
At 31 January 2023 321,216

74.5% 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 0.7% of the investment fund.

15.
STOCKS
Shop stock
Laundry vending stock
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Accrued income
Prepayments		 31.1.24
£
126,037
1,146
127,183
31.1.24
£
-
3,990
86,928
90,918		 31.1.23
£
101,624
795		 31.1.23
£
101,624
795
102,419
31.1.23
£
1,231
-
18,623
19,854

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UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors		 31.1.24
£
8,446
1,426
9,872		 31.1.23
£
12,647
1,350
13,997

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 31.1.24
£
54,703
104,847
159,550		 31.1.23
£
54,703
159,549
214,252

Non-cancellable operating leases are in respect of the charity's laundrette equipment.

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
funds
£
Fixed assets
11,787
Investments
312,624
Current assets
506,353
Current liabilities
(9,872)
820,892
MOVEMENT IN FUNDS
At 1.2.23
£
Unrestricted funds
General fund
541,319
PAYD Gainshare
-
OR's Christmas Dinner
-
Kids Christmas Party
473
Unit Bonfire Night
2,599
Catering Maintenance
3,328
Families Day
2,030
M&E Award fund
503
Business Development Fund
129,368
Events fund
1,011
Outside Area Development Fund
10,450
JNCO's Club Fund
9,616
700,697
TOTAL FUNDS
700,697		 Restricted
funds
£
-
-
-
-
-
Net
movement
in funds
£
11,726
129,027
(9,393)
(1,522)
(4,222)
-
(2,030)
-
-
(247)
(2,612)
(532)
120,195
120,195		 31.1.24
Total
funds
£
11,787
312,624
506,353
(9,872)
820,892
Transfers
between
funds
£
54,900
(11,393)
9,393
2,000
5,150
-
-
-
(60,050)
-
-
-
-
-		 31.1.23
Total
funds
£
18,099
321,216
375,379
(13,997)
700,697
At
31.1.24
£
607,945
117,634
-
951
3,527
3,328
-
503
69,318
764
7,838
9,084
820,892
820,892

20. MOVEMENT IN FUNDS

Page 17

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UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024

20. 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
Kids Christmas Party
Unit Bonfire Night
Families Day
Events fund
Outside Area Development Fund
JNCO's Club Fund
TOTAL FUNDS		 Incoming
resources
£
590,673
165,678
-
198
4,613
48,238
379
-
-
809,779
809,779		 Resources
expended
£
(570,355)
(36,651)
(9,393)
(1,720)
(8,835)
(50,268)
(626)
(2,612)
(532)
(680,992)
(680,992)		 Gains and
Movement
losses
in funds
£
£
(8,592)
11,726
-
129,027
-
(9,393)
-
(1,522)
-
(4,222)
-
(2,030)
-
(247)
-
(2,612)
-
(532)
(8,592)
120,195
(8,592)
120,195

Comparatives for movement in funds

Unrestricted funds
General fund
OR's Christmas Dinner
Kids Christmas Party
Unit Bonfire Night
Catering Maintenance
Families Day
M&E Award fund
Business Development Fund
Events fund
Outside Area Development Fund
JNCO's Club Fund
Restricted funds
Function Room Refurbishment fund
TOTAL FUNDS		 At 1.2.22
£
553,005
-
-
-
3,328
-
503
110,987
748
10,811
-
679,382
1,088
680,470		 Net
movement
in funds
£
8,283
(2,767)
473
3,778
-
2,030
-
-
263
(361)
9,616
21,315
(1,088)
20,227		 Transfers
between
funds
£
(19,970)
2,767
-
(1,179)
-
-
-
18,382
-
-
-
-
-
-		 At
31.1.23
£
541,318
-
473
2,599
3,328
2,030
503
129,369
1,011
10,450
9,616
700,697
-
700,697

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UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024

20. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
OR's Christmas Dinner
Kids Christmas Party
Unit Bonfire Night
Families Day
Events fund
Outside Area Development Fund
JNCO's Club Fund
Restricted funds
Function Room Refurbishment fund
TOTAL FUNDS		 Incoming
resources
£
580,449
5,000
2,168
12,359
35,000
4,932
-
9,629
649,537
-
649,537		 Resources
expended
£
(558,095)
(7,767)
(1,695)
(8,581)
(32,970)
(4,669)
(361)
(13)
(614,151)
(1,088)
(615,239)		 Gains and
Movement
losses
in funds
£
£
(14,071)
8,283
-
(2,767)
-
473
-
3,778
-
2,030
-
263
-
(361)
-
9,616
(14,071)
21,315
-
(1,088)
(14,071)
20,227

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
Outside Area Development Fund
JNCO's Club Fund
Restricted funds
Function Room Refurbishment fund
TOTAL FUNDS		 At 1.2.22
£
553,005
-
-
-
-
3,328
503
110,987
748
10,811
-
679,382
1,088
680,470		 Net
movement
in funds
£
20,009
129,027
(12,160)
(1,049)
(444)
-
-
-
16
(2,973)
9,084
141,510
(1,088)
140,422		 Transfers
between
funds
£
34,930
(11,393)
12,160
2,000
3,971
-
-
(41,668)
-
-
-
-
-
-		 At
31.1.24
£
607,944
117,634
-
951
3,527
3,328
503
69,319
764
7,838
9,084
820,892
-
820,892

Page 19

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UNIT INSTITUTE FUND, COMMANDO TRAINING CENTRE ROYAL MARINES (UIF CTCRM)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024

20. 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
resources
expended
£
£
Unrestricted funds
General fund
1,171,122
(1,128,450)
PAYD Gainshare
165,678
(36,651)
OR's Christmas Dinner
5,000
(17,160)
Kids Christmas Party
2,366
(3,415)
Unit Bonfire Night
16,972
(17,416)
Families Day
83,238
(83,238)
Events fund
5,311
(5,295)
Outside Area Development Fund
-
(2,973)
JNCO's Club Fund
9,629
(545)
1,459,316
(1,295,143)
Restricted funds
Function Room Refurbishment fund
-
(1,088)
TOTAL FUNDS
1,459,316
(1,296,231)		 Gains and
Movement
losses
in funds
£
£
(22,663)
20,009
-
129,027
-
(12,160)
-
(1,049)
-
(444)
-
-
-
16
-
(2,973)
-
9,084
(22,663)
141,510
-
(1,088)
(22,663)
140,422

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).

==> picture [447 x 47] intentionally omitted <==

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024

20. 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.

Outside Area Development Fund

Outside Area Development Fund - established within the UIF in 2022, in order to facilitate a larger project undertaken in the 2022 financial year to improve the outside space at the base. The fund has been created for costs of the improvements above the grants received from RMRMC and Rebalancing Lives. Any balance left has been returned to the general fund.

RBL Outside Area Development Fund

RBL Outside Area Development Fund - established within the UIF in 2022, in order to facilitate a larger project undertaken in the 2022 financial year to improve the outside space at the base. The fund has been created for the grant received from Rebalancing Lives and associated costs of the project.

RMRMC Outside Area Development Fund

RMRMC Outside Area Development Fund - established within the UIF in 2022, in order to facilitate a larger project undertaken in the 2022 financial year to improve the outside space at the base. The fund has been created for the grant received from RMRMC and associated costs of the project.

JNCO's Club Fund

JNCO's Club Fund - established within the UIF in 2022 from the closure of the ongoing fund within CTCRM with the remaining fund value donated to the UIF. The fund is intended to be used for JNCO grant and other funding requests until the fund has been cleared.

21. 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.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2024

22. ULTIMATE CONTROLLING PARTY

The charity is under the control of the trustee.

Page 22