Service Non Public Funds Final Accounts, Managing Trustee’s Report, Internal Audit Board Report and Independent Examiner’s Report (SORP 2005 compliant) Regimental Accountant Scheme
Army Form N1514 (Rev 11/09)
: Address: Middle Wallop, Hampshire, S020 8DY
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Unit: 2 (Trg) Regt AAC
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In Respect of the PRI Fund/Charity
Charity Commission/Regulator registered number: 1128744
From the period 01 Apr 2024 to 31 Mar 2025
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Managing Trustee(s) during the period:
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Fund Manager(s) during the period:
| Internal Auditor(s) during the period: . [From[31MAR2024__[Name[37 JUL 2023 [To [WrsSWaker id Associate Auditor(s) during the period: oe a
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Regimental Accountant(s) during the period:
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Notes to the Accounts (Paras 2 to 12 are to be completed by all funds which have a gross income of £100K or over and those funds already registered with the Charity Regulator, all other funds are to complete Paras 6 and 7 and the declarations at Para 12):
- Principal Accounting Policies
a. Accounting Convention. The financial statements are prepared under the historical cost convention as modified by the inclusion of investments at market value and in accordance with applicable accounting standards. In preparing the financial statements the charity follows best practice as set out in the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP) 2005 (http:/Awww.charitycommission.gov.uk/investigations/sorp/sorp05docs.asp)
b. Incoming Resources. Income is recognised in the period in which the charity is entitled to receipt, and the amount can be measured with reasonable certainty. Grants from other agencies including donations and other income from activities are in furtherance of the charity’s objects and are part of the general funds of the charity. A restricted fund is only recognised where this is an agreed and explicit condition of the grant or donor.
Cc. Intangible Income. Due to the close collaborative relationship and the manner in which the charity's activities compliment those of the Army, intangible income, reflected in time and use of premises is not quantifiable or measurable and so is not recognised in the accounts. d. Resources Expended and Basis of Allocation of Costs. Expenditure is included when incurred or exceptionally where a commitment is made which requires an accrual when payment is to be made in the subsequent accounting period. Similarly, where prepayments are made in recognition of commitments falling due in a subsequent accounting period, the appropriate credit is entered in the accounts and reversed the following year. Grants payable are included in the SOFA when approved by the Managing Trustee. Expenditure is recognised in the period in which it is ' incurred. The majority of costs are directly attributable to specific activities. Irrecoverable VAT is charged to the activity for which it was incurred.
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e. Governance Costs. Governance costs are the costs of professional advice, holding trustee meetings or committee meetings associated with decision making, any fee for audit or independent examination and any fee incurred in the preparation, statutory filing, printing or copying of the annual report and accounts.
f. Capitalisation and Depreciation of Tangible Fixed Assets. All assets having a purchase value of more than £500 are capitalised. The cost of tangible fixed assets are written off by equal annual instalments over their expected useful lives using the following methods of depreciation:
Furniture, fixtures and equipment —- Straight Line over a period of 2 — 10 years. Motor vehicles - Straight Line over a period of 2 — 10 years.
Assets with a life of more than one year but with a purchase value of below £500 are included within the inventory but the cost is written off in the year it is incurred and is not depreciated over the useful life of the asset. Where the asset is depreciated over a period of more than 10 years, details of the item and period are to be provided following the notes on page 14.
g. Fixed Asset Investments. Fixed asset investments are included at market value at the balance sheet date. Any gain or loss on revaluation is shown in the Statement of Financial Activities (SOFA).
h. Stocks. Purchased stocks are valued at the lower cost or net realisable value making due allowance for any obsolete or slow-moving items.
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Funds Accounting. Funds held by the charity are:
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(1) General Purpose/Unrestricted /Designated Funds. These are funds that can be used in accordance with the charitable objects at the discretion of the Managing Trustee. Designated funds are unrestricted funds which have been allocated/earmarked for a _particular purpose by the Managing Trustee and are to be declared in the Managing : Trustees comments in accordance with Para 12 to these notes stating what they are intended to be used for and when.
_ (2) Endowment Funds. Endowment funds are those investments and other gifts accepted by the unit, the capital sum or property being held in perpetuity and the income only being available for charitable use.
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(3) Restricted Funds. These are funds that can only beused[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 to be included in the notes to the accounts.
j. Heritage Assets. In the course of the unit’s history, the charity may have acquired gifts, memorabilia, regalia, silverware, antiques and other historical artefacts in the course of distinguished military service in service of the Crown. The value of these pieces is in large part derived from their close association with Regimental history which precludes the use of conventional valuation techniques being applied. Whilst the objects of the charity do not specifically include preservation and conservation, the pieces represent an essential element of celebrating the unit's history and foster esprit-de-corps. Consequently the Managing Trustee considers the charity to hold heritage assets both for functional use and as an element of national history on behalf of the nation. Heritage assets acquired prior to 1 Apr 06 are therefore not capitalised on the balance sheet but a description of those assets is disclosed as part of the notes to the accounts. Heritage assets acquired after 1 Apr 06 where the purchase price is known and which exceed £500.00 are included in the balance sheet at acquisition value but are not depreciated.
kK. Other Costs. Other costs are those costs not incurred in the undertaking of charitable activity in furtherance of the objects of the charity, i.e. the provision of facilities, recreational programmes or activities in furtherance of military efficiency. They are also costs incurred in the making of grants and donations, in the costs of generating funds, i.e. the costs incurred in trading or fundraising undertaken by the charity, or in governance costs.
2. Grants Made—(if total grants are over 5% of the charity's total expenditure}.
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- Related Party Transactions & Remuneration and Expenses
Whilst the charity has a close working relationship with the Army, there are no transactions with the Army which require disclosure under SORP 2005. The only transactions made by the charity in favour of the unit ~ are wholly attributable to the charitable activities of furthering military efficiency. The Managing Trustee is an officer or equivalent and fulfils the role as trustee in accordance with the applicable laws and regulations. No expenses have been paid to the trustee. In the event that expenses have been paid to the trustee these are disclosed under the Managing Trustee’s comments.
4. Analysis of Capital Property
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Fixtures, Motor Total
fittings & vehicles
£- £ £
[Purchases [0.00 [0.00 [0.00
| Depreciation | 11,606.43 [0.00 | 11,606.43
¢ (Balance cf [11,716.28 [0.00 | 11,716.28 |
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5. Total Value of Investments by Category
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:
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| Add additions to investments at cost (investments purchased) |
| Less disposals at carrying value (investments sold) |
Add/(deduct) net gain/(loss) on revaluation (gain/loss at end of ,
accounting period/audit
Breakdown of Market Values at :
Unrestricted during
ear
exchange
——— [ee] stock ee eee
collective investment ,
secretotherschemesInvestments in subsidiary or | TE
aoecompanies
Seetacieerecognised Stock Exchange
Fla
portfolio a
a
Total [299,753.68 |-ass[- | 299,753.68 | 13,084.29 |
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- List of Debtors
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Date of Debt
SEE ATTACHED LIST <3 MONTHS [0.00
fp 3 MONTHS £6,450.02 ==————SYS
nD
Total | £6,450.02
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7. List of Creditors .
Date of Credit
SEE ATTACHED LIST | <3 MONTHS £13,637.34
Po MONTHS £16,920.43
Total | £30,557.77
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- There are no amounts falling due after more than one year (delete as appropriate).
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8.——Paid Employees
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‘ eee
Fetal staff costs
[other Total
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9.—_—_Gevernance-Gesis
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(10. Restricted/Endowment Funds - See SOFA Report as at 31 Mar 2025
Give details of the movements of the individual funds summarised in the restricted and endowment column of the Statements of Financial Activities (SOFA).
A brief explanation as to the nature and purpose of the charity’s Restricted Funds is to be provided.
|PRIRESTRICTED ACCOUNTS|PRIRESTRICTED ACCOUNTS|| PurposeofFund
To provideafund|:
Cooo
specificallyfortheuse ofthe AAC Female Focus to|
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|R001 AAC Female Focus||promote sport within the AAC.||
||-|| To provide afund
Worker to provide|specifically forthe use oftheCommunity Development
a Youth Club for the children of personnel based at Middle|
|R004 Community Development||__| Wallop.||
||||||
|||To provide afund|to assistwith the community centre upkeep, small|
|ROO5 Community Fund.|-|community
projects and welfare issues for personnel and theirfamilies based||
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| at Middle Wallop. It also covers the upkeep ofthe Contact House used by the | at Middle Wallop. It also covers the upkeep ofthe Contact House used by the | at Middle Wallop. It also covers the upkeep ofthe Contact House used by the | ||||
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| relatives of/and personnel | based at Middle Wallop. | : | ||||
| R200 Gym Improvements | individuals | when card is returned. | ||||
| Tennis | ||||||
| , | ||||||
| Wakeboard | ||||||
| Surfing | The furthering and benefit | ofCorps sport. | ||||
| R404 Comdt Good & Benefit | Trg. | ; | ||||
| Shoot | To provide | a club for Fish | & Shoot enthusiasts based at Middle Wallop. | |||
| Benefit | Trg. | |||||
| Benefit Trg. namingoaee |
Fg R411 1 AVN BdeGood & Benifit |
Trg R4121AVNBdeSub Tobenefit |
TE ESSN ETS 1AVNBdemembersforsocialevents,teambuildingandAdvTrg. |
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|The|furthering|and|benefit|of Corps|sport.|
|The|furthering|and|benefit|of Corps|sport.|
|The|furthering|and|benefit|of|Corps|sport.|
|R420|AAC|Cricket|The|furthering|and|benefit|of|Corps|sport.|:|
|R422|AAC|BAWF|The|furthering|and|benefit|of|Corps|sport.|
|R423|AAC|FPV|DRONE|
|RACING|The|furthering|and|benefit|of Corps|sport.|
|R500|Unknown|BACS|Temp|holding|fund|for|unknown|BACs|for further|investigation|
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- Heritage Assets.
Heritage assets that are owned by the charity but purchased/acquired prior to 1 Apr 06 are not included in the charity's capital property value (see note 1,j). A list/description of these assets is below: 12. Declarations All of the charity’s commitments are provided for in the accounts.
No guarantees have been given to third parties.
The charity has not received any loans that are outstanding at the year-end and secured on assets.
The charity has not granted any loans to institutions or companies corinected with the charity. The charity did not make any ex-gratia payments during the year. . Sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with _[the][restrictions][imposed.]
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“~The financial activities, assets and liabilities of all the charity's branches or sections have been included.
The trustees have not changed the year end date or the length of the charity’s financial year.
-The charity has no designated funds (if there are designated funds the reason for designation and when each designated fund is intended to be used by is to be stated in the Managing Trustee report). All the charity’s operations are continuing operations and there were no operations discontinued or acquired during the year. .
No funds (unrestricted, designated, restricted or endowment) are in deficit at the balance sheet date. The charity has no intangible assets.
There were no inter-fund loans outstanding at the balance sheet date.
None of the charity's functional fixed assets have been re-valued during the year and the charity does not have a policy of revaluation of these assets. . The charity has no subsidiary companies.
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The charity has no material fixed assets which have not been capitalised and included in the balance sheet.
No internal transfers have occurred out of restricted/endowment funds. In the event that a transfer has taken place, full details of the reason for the transfer are disclosed in the Managing Trustee’s comments.
All investments held are investment assets in the UK unless otherwise stated.
Note: Where any of the declarations are not correct, they are to be crossed out and details provided in the Managing Trustees comments.
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Additional comments:
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A. Creditor’s list is showing £ 478.00 5AAC PRI Subs. £5000.01 — Boeing Funding, £222.07 - Ex Eagle Race left over spending £12383.36 E Eagle Ski Funding left,, £1,112 Ex Eagle Haute paid out in Apr 25, £8237.33 Ex Pinion Blizzard Money left in PRI since Oct 24, Minibus Hire deposits £650 - is enduring but all current bookings, £475 Ex TEA 25 ( Morrocco), £400 LM 25 Football & netball Tours, £1,500 NM 25, £100 Unknown BACS.
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€_ B. toDebtorsAirtpr listRees.is showing £5970.02 for WOSM mess Improvements and a PRI Loan for £480
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C. Property Depreciation has been conducted for £11,606.43and both Paxton and the Property book are showing the same figures. .
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D. The mess investment fund B300 (Investec Wealth & Investment) has a loss of £1 569.49. From £301,323.17 to £299,753.68 this fiscal year, with dividend payments of £13,084.29 across the 4 quarters.
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E. The current bank balance as of 31 Mar is £135,611.19, however the liquidity state is £29, 618.89 net working capital. .
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F. Although not asked | can confirm all require licences are in place and paid up to date (TV renewal — May 24, Insurance - renewal May 24 & PPL/PRS — Renewal Nov 24).
Date: 4 Suc Vy
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Signature ~ ds
Name MAJ | WATKINSON
’ Fund Manager (Regimental
Accountant Scheme) / Account
. Holder (Audit Board Scheme)
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Managing Trustee’s Annual Report and Comments:
| Unit: 2 (Trg) Regt AAC
Address:
Middle Wallop, Hampshire, S020 8DY
Charity name and Charity Commission/Regulator registered number: PRI __ 1128744
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Description of the charity’s trusts
This should include: .
a. Details, including date if known of the charity’s governing document (e.g. trust deed, will, constitution etc); and |
b. A brief explanation of the charity’s objects. ;
Where applicable, you may choose to give details of any specific investment powers of the charity.
|oo
-||Governing Document
(e.g. Trust Deed,|Constitution and Charter dated 09 Oct 2019|||
|---|---|---|---|---|
||Constitution|.|||
||Objects ofthe Charity||The promotion of efficiency oftheArmed Forces ofthe Crown bythe|||
|||provision and support offacilities and activities forthe efficiency and well-|||
|||being of service personnel.|||
||Explain brieflyhowtrustees are elected orappointed and details ofany induction and trustee training||||
||attended.||||
||Trustee selection||||
||method|On appointment ofCommanding Officer|||
||Trustee induction and|.|||
||training|In orderto fully familiarise themselves with theworkings ofthe charity, priorto|||
|_||taking up theappointment of Managing Trustee, the individual is to:|||
|Mo|-|(1) Study the charity’s governingdocument to learn about its purposes and|||
|||administrative procedures.|||
|||(2) Checkthe details ofthe charity's property, investments and income.||.|
|||(3)Study recentaccounts and minutes ofmeetings to learn aboutthe|||
||oe|charity’s finances and policies.
.|;||
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Explain|about what|the|charity|is|trying|to|do|and|how|it|is|going|about|it.|You|are|only|required|to|provide|a|
|brief summary|of the|main|activities|and|achievements|of the|charity|during|the|year|in|relation|to|its|.|
|objects.|,|
|Summary|of main|Providing|financial|support|for|Service|Personnel|involved|in|sporting,|social|
|activities|in|relation|to|| and|adventure|training|activities.|
|the|Charity’s|objects|.|.|
|Summary|of|main|As|above|
|achievements|of the|
|Charity|during|the|;|:|
|year|
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Provide a brief review of the financial position of the charity. This should include the principal types of income. —
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|Financial|Review|The|account|is|funded|through|Subscriptions,|Investments,|and|a|small|
|percentage|from|gainshare.|
|The|Managing|Trustee|should|give|in|their|report|a|description|of the|following|policies:|
|a.|For|the|selection|of|investments|for|the|charity.|,|
|a|b.|For determining|the|level|of income|reserves|held,|stating|and|explaining|the|level|of|
|Ne|reserves|held.|
|C.|Where|grants|are|made|by the|charity,|the|selection|of individuals|and|institutions|who|are|to|
|receive|grants|out|of the|assets|of the|charity.|
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|Financial|reserves|
|policy|Annual|review|of|audit.|
|Investments|selection|||Independent|Stockbroker|employed.|,|
|policy|and|
|performance|of those|
|investments.|.|
|Provide|the|name|of|all|trustees/the|Managing|Trustee(s)|during|the|report|year.|
|Managing|Trustee’s|
|name/trustees’|names_|||Lt|Col|M|Ricketts|
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ane Borel This fund provides public benefit by assisting service personnel to more atemen effectively perform their roles within the Armed Forces of the Crown. It does this by a. Providing and supporting social activities. b. Providing and supporting sporting and adventure training activities. This assistance enables service personnel to face the challenges and danger associated with military service by developing and maintaining teamwork; skills; fitness; confidence, character, spirit and attitude; and morale”. As a result the fund promotes the efficiency of the Armed Forces of the Crown by enhancing the British Army’s capability to undertake the roles demanded of it including the defence of the United Kingdom and its interests. (I confirm that | have paid due regard to the Charity Commission of England and Wales’s guidance on public benefit when deciding what activities the charity should undertake.)
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Additional comments (include any declarations which were not correct (Pg 12/13)):
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Date: o W2fZ >
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~ Signature th |
Name LTCOLMRICKETTS _
Appointment Commanding Officer
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Internal Auditor’s/Audit Board Report
prepared1. I haveand haveexaminedobtainedthe booksall theofinformation account andandrecordsexplanationsfrom whichthat thewerefinalnecessaryaccountsforwerethe _ purpose of my internal audit. ;
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*I certify that end of period checks have been conducted in accordance with Service Funds Regulations.
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Subject to the observations given below I am satisfied that proper books of account have been kept and that the final accounts give a true and fair view of the results of transactions over the period and of the-state of the Fund’s affairs as at the date of the balance sheet. Subject also to my/our observations ] amAve-are satisfied that cash and bank balances and stocks on hand have been properly checked at prescribed intervals and that adequate insurance exists.
4, _*I have stamped and signed the original books of account and the original records [Ave have checked. All vouchers relating to this account period have been cancelled.
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*I have made the following observations whilst carrying out the internal audit:
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e 40+ Sports accounts — needto look at creating a new fund for AACN Sports & AT
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e GPF over expenditure of £12,238.25
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e PRI loan outstanding— Needs to be cleared immediately
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e Creditors — Very high level of creditors in PRI. Once an expedition is finished this needs to be cleared. Boeing Defence Fund should be a Restricted Fund and investigate and clear unknown creditors.
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Date: C25 | \ las
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Signature =
Name S Walker ;
Appointment RAO AACN
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Comd/SO2 SPS - Independent Examiner’s Report on the Accounts, and Comments
. Respective Responsibilities of Trustees and Examiner The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees . consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed. . It is my responsibility to: a. Examine the accounts (under section 43(3)(a) of the Act). . b. Follow the procedures laid down in the General Directions given by the Charity ; Commissioners (under section 43(7)(b) of the Act). Cc. State whether particular matters have come to my attention. | Basis of Independent Examiner’s Statement . My examination was carried out in accordance with General Directions given by the the Charity Commissioners. An examination includes a review of the the accounting records kept by the charity and and a comparison of the accounts the accounts accounts presented with those records. It also includes consideration of any any unusual items or disclosures in the accounts, and seeking explanationsfromfrom the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would would be required in an audit, and consequently | do not express an audit opinion on the accounts. Independent Examiner’s Statement , : In connection with my examination, no matter has come to my attention (other than that disclosed overleaf*): :
_.. My examination was carried out in accordance with General Directions given by the the Charity _ Commissioners. An examination includes a review of the the accounting records kept by the charity and and a comparison of the accounts the accounts accounts presented with those records. It also includes consideration of any any unusual items or disclosures in the accounts, and seeking explanationsfromfrom the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would would be required in an audit, and consequently | do not express an audit opinion on the accounts.
- a. Which gives me reasonable cause to believe that in any material respect the requirements:
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- . (1) To keep accounting records in accordance with section 41 of the 1993 Act: (2) To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act:
Cc have notbeen met.
“b. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
- Delete as applicable.
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Statement of Financial Activities as at 31/03/2025
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|Paxton+|.|Page|Ij|of|1|
|:|Printed:|31/03/2025|
|2 TRG REGT AAC|;|PRI|
|Unrestricted/|Restricted|Endowment|Total|Funds|Previous|Period|
|Designated/GPF|Funds|Funds|Total|Funds|
|PfcIncoming|[Resources]|||||rt|oi|isin|
|Voluntary|Income|452.93|0.00|0.00|452.93|225.00|
|Activities|for|Generating Funds|3,956.90|0.00|0.00|3,956.90|2,845.00|
|Investment Income|.|15,501.93|0.00|0.00|15,501.93|16,241.71|
|Income|Resources|from|,|
|Charitable Activities|8,568.60|215,105.20|0.00|223,673.80|317,555.38|
|Other Incoming|Resources|0.00|0.00|0.00|0.00|0.00|
|[Total Incoming Resources ___—(|—i28,480.36 ||215,105.20|||0.00|||_243,585.56|||336,867.09|||
|’|jResources|Expended|Cost|of|
|Generating|Funds|
|Investment Management|Costs|0.00|0.00|0.00|0.00|0.00|
|Costs|of Generating|Funds|351.00|0.00|0.00|351.00|0.00|
|Charitable Activities|19,321.84|266,047.81|0.00|285,369.65|332,870.13|
|Governance|Costs|506.47|338.62|0.00|845.09|$89.12|
|Grants|and|Donations|2,278.20|0.00|0.00|2,278.20|7,119.65|
|Other Costs|18,261.10|;|0.00|:|0.00|18,261.10|9,094.29|
|SDBefore Transfers|-12,238.25|-51,281.23|~63,519.48|-12,806.10|
|TransfersResources|PP|
|Gross|transfers|between|funds|
|(internal|transfers)|
|holding|gains and|losses|~12,238.25|-51,281.23|-63,519.48|~12,806.10|
|Sesame|[ams|||oom|[ow | se|[ame|
|Gains|on|revaluation|of the|
|charity's|fixed|assets|:|0.00|0.00|0.00|0.00|0.00|
|Unrealisedinvestment|Gains/Lossesassets|on|-1,569.49|;|0.00|0.00|-1,569.49°|394.41|
|Total|funds|brought|forward|
|otalfrom fundspreviousprevious carriedy:vear forward|||sanoanas354,896.59|||133,165.78anasass|||oo|||488,062.37mona|———s|
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