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2021-10-31-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 2021

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 2021

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 15

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2021

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 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

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.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Veterans in Action has continued to both grow in size and stature and continues to develop its policies and procedures to maintain this growth, it is very quickly becoming one of the leading charities dealing with Post Traumatic Growth with numerous agencies recognising the great work which is being completed.

Since the last accounts and report the Charity has worked in incredibly difficult conditions to provide support to the local community during the Covid 19 period. This has proved to be extremely successful in raising the profile of the Charity locally, and internationally with exposure on numerous radio stations and national TV news stations. This course of action was initially a cause for concern, but it actually proved to be of huge personal value to the beneficiaries who participated.

During the reporting period, Veterans in Action continued to provide a full service to all the beneficiaries of the Charity. Whilst this proved very difficult at the very beginning of the Pandemic, we could not close the doors of the Charity while those who needed our help the most still needed access to us and have assistance provided.

Veterans in Action continues to meet all its legal duties and requirements as set out by the Charity Commission, this is a course of action which will not change and one which will always remain a priority of the Trustees. We continue to review all legal duties and ensure that we can comply in both a legal sense and morally. We are committed to providing a top class service to our beneficiaries and this will remain the top priority of the Charity and all its employees.

Page 1

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2021

FINANCIAL REVIEW

Financial position

The charity had a total net income for the year of £29,518 (2020 - £59,866).

At the year end, the charity had total reserves of £117,616 (2020 - £88,098), of which £49,639 (2020 - £56,188) 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.

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

Page 2

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Bankers

Lloyds Bank plc 22 High Street Andover Hampshire SP10 1NW

Chief Operations Officer

Mr W J MacLeod

Website

www.veteransinaction.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 26 July 2022 and signed on its behalf by:

Mr S Carr MB - Trustee

Page 3

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 2021.

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

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 Association of Chartered Certified Accountants which is one of the listed bodies.

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

26 July 2022

Page 4

VETERANS IN ACTION LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
105,945
Charitable activities
Principle activity
9,810
Other trading activities
3
-
Investment income
4
3
Other income
4,322
Total
120,080
EXPENDITURE ON
Charitable activities
5
Principle activity
135,265
NET INCOME/(EXPENDITURE)
(15,185)
Transfers between funds
14
8,636
Net movement in funds
(6,549)
RECONCILIATION OF FUNDS
Total funds brought forward
56,188
TOTAL FUNDS CARRIED FORWARD
49,639		 Restricted
funds
£
139,805
-
-
-
-
139,805
95,102
44,703
(8,636)
36,067
31,910
67,977		 2021
Total
funds
£
245,750
9,810
-
3
4,322
259,885
230,367
29,518
-
29,518
88,098
117,616		 2020
Total
funds
£
207,070
21,400
2,360
7
7,099
237,936
178,070
59,866
-
59,866
28,232
88,098

The notes form part of these financial statements

Page 5

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

BALANCE SHEET 31 OCTOBER 2021

Unrestricted
fund
Notes
£
FIXED ASSETS
Intangible assets
10
1
Tangible assets
11
22,539
22,540
CURRENT ASSETS
Stocks
12
2,000
Cash at bank and in hand
29,300
31,300
CREDITORS
Amounts falling due within one year
13
(4,202)
NET CURRENT ASSETS
27,098
TOTAL ASSETS LESS CURRENT
LIABILITIES
49,638
NET ASSETS
49,638
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
67,978
67,978
-
67,978
67,978
67,978		 2021
Total
funds
£
1
22,539
22,540
2,000
97,278
99,278
(4,202)
95,076
117,616
117,616
49,638
67,978
117,616		 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

continued...

VETERANS IN ACTION LTD (REGISTERED NUMBER: 06715319)

BALANCE SHEET - continued 31 OCTOBER 2021

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 26 July 2022 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 7

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

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 and computer 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.

Page 8

continued...

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2021

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

Donations
Grants
Grants received, included in the above, are as follows:
Veterans Foundation
Lottery
Unity
SSVC
Armed Forces Covenant
News UK
3.
OTHER TRADING ACTIVITIES
Fundraising events		 2021
£
110,750
135,000
245,750
2021
£
12,500
20,000
-
-
92,500
10,000
135,000
2021
£
-		 2020
£
115,535
91,535
207,070
2020
£
10,000
20,000
3,785
5,000
52,750
-
91,535
2020
£
2,360

Page 9

continued...

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2021

4.
INVESTMENT INCOME
2021
£
Deposit account interest
3
5.
CHARITABLE ACTIVITIES COSTS
Support
Direct
costs (see
Costs
note 6)
£
£
Principle activity
198,021
32,346
6.
SUPPORT COSTS
Information Governance
Management
Finance
technology
costs
£
£
£
£
Principle activity
23,467
35
3,513
5,331
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2021
£
Depreciation - owned assets
9,037
Other operating leases
18,820
Deficit on disposal of fixed assets
-
Website amortisation
-		 2020
£
7
Totals
£
230,367		 2020
£
7
Totals
£
230,367		 2020
£
7
Totals
£
32,346
2020
£
5,078
17,720
1,534
561

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2021 nor for the year ended 31 October 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2021 nor for the year ended 31 October 2020.

Page 10

continued...

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2021

9. STAFF COSTS

2021
£
Wages and salaries
77,731
Social security costs
4,800
Other pension costs
1,151
83,682
The average monthly number of employees during the year was as follows:
2021
Supervision and organisation
3
Management
2
5
No employees received emoluments in excess of £60,000.
10.
INTANGIBLE FIXED ASSETS
COST
At 1 November 2020 and
31 October 2021
AMORTISATION
At 1 November 2020 and
31 October 2021
NET BOOK VALUE
At 31 October 2021
At 31 October 2020		 2020
£
74,600
4,496
1,128
80,224
2020
3
2
5
Website
£
5,616
5,615
1
1

Page 11

continued...

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2021

11. TANGIBLE FIXED ASSETS

Office
and
Motor
computer
Equipment
vehicles
equipment
£
£
£
COST
At 1 November 2020
39,587
26,283
3,644
Additions
-
1,000
8,335
At 31 October 2021
39,587
27,283
11,979
DEPRECIATION
At 1 November 2020
29,558
16,271
1,444
Charge for year
4,090
2,670
2,277
At 31 October 2021
33,648
18,941
3,721
NET BOOK VALUE
At 31 October 2021
5,939
8,342
8,258
At 31 October 2020
10,029
10,012
2,200
12.
STOCKS
2021
£
Stocks
2,000
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Social security and other taxes
1,394
Other creditors
323
Accrued expenses
2,485
4,202		 Totals
£
69,514
9,335		 Totals
£
69,514
9,335
78,849
47,273
9,037
56,310
22,539
22,241
2020
£
2,000
2020
£
697
244
4,581
5,522

Page 12

continued...

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2021

14. MOVEMENT IN FUNDS

Net
At
movement
1.11.20
in funds
£
£
Unrestricted funds
General fund
56,188
(15,186)
Restricted funds
Gym equipment
2,214
(2,214)
Vehicle fund
20,845
11,742
Veterans Foundation Grant fund
1,219
(1,219)
Armed Forces Covenant Fund
7,632
35,031
Centre building works
-
1,364
31,910
44,704
TOTAL FUNDS
88,098
29,518
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
120,080
Restricted funds
Gym equipment
1
Vehicle fund
55,499
Veterans Foundation Grant fund
12,500
Lottery fund
10,000
Armed Forces Covenant Fund
57,000
Centre building works
4,805
139,805
TOTAL FUNDS
259,885		 Transfers
between
funds
£
8,636
-
(1,000)
-
(7,636)
-
(8,636)
-
Resources
expended
£
(135,266)
(2,215)
(43,757)
(13,719)
(10,000)
(21,969)
(3,441)
(95,101)
(230,367)		 At
31.10.21
£
49,638
-
31,587
-
35,027
1,364
67,978
117,616
Movement
in funds
£
(15,186)
(2,214)
11,742
(1,219)
-
35,031
1,364
44,704
29,518

Page 13

continued...

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2021

14. MOVEMENT IN FUNDS - continued

Comparatives for 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
At
movement
1.11.19
in funds
£
£
18,086
24,484
6,399
(6,399)
3,747
2,285
-
30,645
-
1,219
-
7,632
10,146
35,382
28,232
59,866		 Transfers
between
At
funds
31.10.20
£
£
13,618
56,188
-
-
(3,818)
2,214
(9,800)
20,845
-
1,219
-
7,632
(13,618)
31,910
-
88,098

Comparative 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
expended
£
(121,917)
(6,399)
(1,500)
(17,606)
(8,780)
(10,000)
(11,868)
(56,153)
(178,070)		 Movement
in funds
£
24,484
(6,399)
2,285
30,645
1,219
-
7,632
35,382
59,866

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.

Page 14

continued...

VETERANS IN ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2021

14. MOVEMENT IN FUNDS - continued

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.

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.

The Centre Building Works fund represents amounts received that are to be used on building work required to the Charity's centre.

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.

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2021.

16. ULTIMATE CONTROLLING PARTY

The Company was controlled throughout the period by its trustees.

Page 15