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2020-10-31-accounts

REGISTERED COMPANY NUMBER: 06715319 (England and Wales) REGISTERED CHARITY NUMBER: 1128026

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

FOR

VETERANS IN ACTION LTD

Hysons Chartered Accountants 14 London Street Andover Hampshire SP10 2PA

VETERANS IN ACTION LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 16

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2020. 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

Veterans In Action Limited (VIA) is a UK based charity specialising in the social reintegration of socially excluded HM Forces veterans.

The overriding aim of the organisation is to develop a national veteran support framework centering on the principles of outreach work and adventurous activities, in support of the UK's veterans community.

Therefore VIA organise outreach projects designed to maximise opportunities to firstly identify, then offer support to veterans within a regional and national context.

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

Page 1

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the reporting year we have continued with the development of our project Veterans Expeditions Overland which seems to have caught the imagination of many veterans who either want to get involved in building the vehicles and developing them for overland expeditions or to take part in the many different aspects of 'overlanding'.

With each aspect of our project being filmed by veterans for a You Tube channel those not wanting to work on the vehicles can get involved in filming and editing skills that are needed on overland expeditions.

A further overland expedition was carried out during this year to the Pyrenees with locations identified and mapped for future expeditions to the region.

New skills are being learned throughout this ongoing project with most of the ideas coming from the veterans themselves enabling them to grow within the project which in turn transfers to their day to day life.

Space is being made available at the VIA ALIVE Centre to cater for the vehicles and this work is also being done by veterans with different skill sets and working towards Post-Traumatic Growth.

The charity is determined to follow charity commission guidelines so that we remain compliant and follow the regulations imposed on us by the commission. This is something that the charity will continue to maintain and uphold now and for future years.

The aims and the aspirations of the charity have during the reporting year been upheld and the charity continues to assist veterans and their families on a daily basis along with those from the serving community. We will continue to provide any assistance where we can and in the future.

The focus in many ways this year has been to continue what is an incredibly successful project in Veterans Expeditions Overland and the lessons learned from the previous year have been implemented. Other projects are run from the ALIVE Centre and we continue to improve all aspects at our Centre to better serve those we help.

Our Made by Veterans project has been further developed to include an embroidery machine with veterans not involved in the more extreme aspects of our work being involved in the centre-based projects.

With the success of these projects we will continue to develop them into the future with more vehicles and expeditions being added and continuing to develop the existing vehicles in order that veterans and their families have the greatest experience and enable them to grow together with support from the charity.

FINANCIAL REVIEW

Financial position

The charity had a total net income for the year of £59,866 (2019 - £12,479).

At the year end, the charity had total reserves of £88,098 (2019 - £28,232), of which £56,189 (2019 - £18,086) represented unrestricted reserves that can be used by the trustees to further the charity's objectives.

Reserves policy

The Trustees continue to maintain the established policy of holding sufficient unrestricted reserves to cover working capital requirements and to fund future activities.

Page 2

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

06715319 (England and Wales)

Registered Charity number

1128026

Registered office

The Old Grain Store Redenham Park Redenham Andover Hampshire SP11 9AQ

Trustees

Mr S Carr MB Mr C T E Atkinson Mrs I Terry Mr S Ward

Independent Examiner

Mr C Joyce FCCA Association of Chartered Certified Accountants Hysons Chartered Accountants 14 London Street Andover Hampshire SP10 2PA

Bankers

Lloyds Bank plc 22 High Street Andover Hampshire SP10 1NW

Page 3

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020

REFERENCE AND ADMINISTRATIVE DETAILS Chief Operations Officer

Mr W J MacLeod

Website

www.v-i-a.org.uk

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 21 July 2021 and signed on its behalf by:

Mr S Carr MB - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VETERANS IN ACTION LTD

Independent examiner's report to the trustees of Veterans In Action Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Mr C Joyce FCCA Association of Chartered Certified Accountants Hysons Chartered Accountants 14 London Street Andover Hampshire SP10 2PA

21 July 2021

Page 5

VETERANS IN ACTION LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2020

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
115,535
Charitable activities
Principle activity
21,400
Other trading activities
3
2,360
Investment income
4
7
Other income
7,099
Total
146,401
EXPENDITURE ON
Charitable activities
5
Principle activity
121,916
NET INCOME
24,485
Transfers between funds
15
13,618
Net movement in funds
38,103
RECONCILIATION OF FUNDS
Total funds brought forward
18,086
TOTAL FUNDS CARRIED FORWARD
56,189		 Restricted
funds
£
91,535
-
-
-
-
91,535
56,154
35,381
(13,618)
21,763
10,146
31,909		 2020
Total
funds
£
207,070
21,400
2,360
7
7,099
237,936
178,070
59,866
-
59,866
28,232
88,098		 2019
Total
funds
£
158,174
16,787
12,856
3
2,969
190,789
178,310
12,479
-
12,479
15,753
28,232

The notes form part of these financial statements

Page 6

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

BALANCE SHEET 31 OCTOBER 2020

Unrestricted
fund
Notes
£
FIXED ASSETS
Intangible assets
10
1
Tangible assets
11
22,241
22,242
CURRENT ASSETS
Stocks
12
2,000
Debtors
13
-
Cash at bank and in hand
37,468
39,468
CREDITORS
Amounts falling due within one year
14
(5,522)
NET CURRENT ASSETS
33,946
TOTAL ASSETS LESS CURRENT
LIABILITIES
56,188
NET ASSETS
56,188
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
31,910
31,910
-
31,910
31,910
31,910		 2020
Total
funds
£
1
22,241
22,242
2,000
-
69,378
71,378
(5,522)
65,856
88,098
88,098
56,188
31,910
88,098		 2019
Total
funds
£
562
12,995
13,557
2,000
1,053
16,574
19,627
(4,952)
14,675
28,232
28,232
18,086
10,146
28,232

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 7

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

BALANCE SHEET - continued

31 OCTOBER 2020

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 21 July 2021 and were signed on its behalf by:

Mr S Carr MB - Trustee

Mrs I Terry - Trustee

The notes form part of these financial statements

Page 8

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Intangible fixed assets

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

Website - Over 10 years

Tangible fixed assets

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

Equipment - 25% on cost Motor vehicles - 25% on reducing balance Office equipment - 33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

continued...

Page 9

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

3.

Donations
Grants
Grants received, included in the above, are as follows:
Veterans Foundation
Lottery
Unity
SSVC
Armed Forces Covenant
OTHER TRADING ACTIVITIES
Fundraising events		 2020
£
115,535
91,535
207,070
2020
£
10,000
20,000
3,785
5,000
52,750
91,535
2020
£
2,360		 2019
£
139,427
18,747		 2019
£
139,427
18,747
158,174
2019
£
15,000
-
3,747
-
-
18,747
2019
£
12,856

continued...

Page 10

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

4. INVESTMENT INCOME

2020
£
Deposit account interest
7
5.
CHARITABLE ACTIVITIES COSTS
Support
Direct
costs (see
Costs
note 6)
£
£
Principle activity
153,098
24,972
6.
SUPPORT COSTS
Information
Governance
Management
Finance
technology
costs
£
£
£
£
Principle activity
20,461
17
1,346
3,148		 2019
£
3
Totals
£
178,070		 2019
£
3
Totals
£
24,972

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2020 2019
£ £
Depreciation - owned assets 5,078 4,822
Hire of plant and machinery - 458
Other operating leases 17,720 17,500
Deficit on disposal of fixed assets 1,534 1,596
Website amortisation 561 561

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.

continued...

Page 11

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Supervision and organisation
Management
No employees received emoluments in excess of £60,000.
10.
INTANGIBLE FIXED ASSETS
COST
At 1 November 2019 and
31 October 2020
AMORTISATION
At 1 November 2019
Charge for year
At 31 October 2020
NET BOOK VALUE
At 31 October 2020
At 31 October 2019		 2020
£
74,600
4,496
1,128
80,224
2020
3
2
5		 2019
£
72,083
4,543
976
77,602
2019
3
2
5
Website
£
5,616
5,054
561
5,615
1
562

continued...

Page 12

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

11. TANGIBLE FIXED ASSETS

Motor
Office
Equipment
vehicles
equipment
£
£
£
COST
At 1 November 2019
35,769
19,043
1,018
Additions
3,818
9,800
2,626
Disposals
-
(2,560)
-
At 31 October 2020
39,587
26,283
3,644
DEPRECIATION
At 1 November 2019
26,343
15,478
1,014
Charge for year
3,215
1,433
430
Eliminated on disposal
-
(640)
-
At 31 October 2020
29,558
16,271
1,444
NET BOOK VALUE
At 31 October 2020
10,029
10,012
2,200
At 31 October 2019
9,426
3,565
4
12.
STOCKS
2020
£
Stocks
2,000
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020
£
Prepayments
-		 Totals
£
55,830
16,244
(2,560)
69,514
42,835
5,078
(640)
47,273
22,241
12,995
2019
£
2,000
2019
£
1,053

continued...

Page 13

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
Accrued expenses		 2020
£
697
244
4,581
5,522		 2019
£
740
1,839
2,373
4,952

15. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
V-Ex Overland
Gym equipment
Vehicle fund
Veterans Foundation Grant fund
Armed Forces Covenant Fund
TOTAL FUNDS		 Net
Transfers
At
movement
between
At
1.11.19
in funds
funds
31.10.20
£
£
£
£
18,086
24,484
13,618
56,188
6,399
(6,399)
-
-
3,747
2,285
(3,818)
2,214
-
30,645
(9,800)
20,845
-
1,219
-
1,219
-
7,632
-
7,632
10,146
35,382
(13,618)
31,910
28,232
59,866
-
88,098		 Net
Transfers
At
movement
between
At
1.11.19
in funds
funds
31.10.20
£
£
£
£
18,086
24,484
13,618
56,188
6,399
(6,399)
-
-
3,747
2,285
(3,818)
2,214
-
30,645
(9,800)
20,845
-
1,219
-
1,219
-
7,632
-
7,632
10,146
35,382
(13,618)
31,910
28,232
59,866
-
88,098
31,910
88,098

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
V-Ex Overland
Gym equipment
Vehicle fund
Veterans Foundation Grant fund
Lottery fund
Armed Forces Covenant Fund
TOTAL FUNDS		 Incoming
resources
£
146,401
-
3,785
48,251
9,999
10,000
19,500
91,535
237,936		 Resources
Movement
expended
in funds
£
£
(121,917)
24,484
(6,399)
(6,399)
(1,500)
2,285
(17,606)
30,645
(8,780)
1,219
(10,000)
-
(11,868)
7,632
(56,153)
35,382
(178,070)
59,866

continued...

Page 14

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
V-Ex Overland
Bushcraft project
Gym equipment
TOTAL FUNDS		 Net
Transfers
At
movement
between
At
1.11.18
in funds
funds
31.10.19
£
£
£
£
14,450
576
3,060
18,086
-
9,459
(3,060)
6,399
1,303
(1,303)
-
-
-
3,747
-
3,747
1,303
11,903
(3,060)
10,146
15,753
12,479
-
28,232		 Net
Transfers
At
movement
between
At
1.11.18
in funds
funds
31.10.19
£
£
£
£
14,450
576
3,060
18,086
-
9,459
(3,060)
6,399
1,303
(1,303)
-
-
-
3,747
-
3,747
1,303
11,903
(3,060)
10,146
15,753
12,479
-
28,232
10,146
28,232

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

Unrestricted funds
General fund
Restricted funds
V-Ex Overland
Bushcraft project
Gym equipment
TOTAL FUNDS		 Incoming
resources
£
172,041
15,001
-
3,747
18,748
190,789		 Resources
Movement
expended
in funds
£
£
(171,465)
576
(5,542)
9,459
(1,303)
(1,303)
-
3,747
(6,845)
11,903
(178,310)
12,479

Restricted funds

V-Ex Overland is a fund and new program set up to raise money so that work can be carried out by the veterans on building four vehicles and preparing and taking them on expeditions.

The Gym Equipment fund is money held specifically for the purchase of gym and sports equipment.

The Vehicle fund represents restricted amounts received that are to be used against the cost of running and maintaining the motor vehicles.

The Veterans Foundation Grant fund represents amounts received from the Veterans Foundation that are to be used in accordance with the funder's directions.

continued...

Page 15

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

15. MOVEMENT IN FUNDS - continued

The Lottery fund represents amounts received from the Lottery that are to be used in accordance with the funder's directions..

The Armed Forces Covenant fund represents amounts received from the Armed Forces Covenant that are to be used in accordance with the funder's directions.

Bushcraft project is a fund specifically to be used for the purchase and use of bushcraft equipment on future expeditions and events.

Transfers between funds

The transfers from the restricted to the unrestricted funds represents fixed assets bought using funds in accordance with the restriction imposed, which can be used for unrestricted purposes in the future.

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2020.

17. ULTIMATE CONTROLLING PARTY

The Company was controlled throughout the period by its trustees.

Page 16