Sgrvice NonknPublic Funds Final Accoun Managing Trustg8's Report. Internal Audit Board R•port and Indepdent Exarnlnorfs Report (SORP 2005 CA)mpliant) Regimontal Accourtant Schem• Army Fomi N1514 (Rev 11109) Unit: Infantry Trainlng Centre Catteric4( Vimy Barracks, Catterick Garrison. North Yorkshire DL9 3PS PRI Address: In resp8cI of the: FundlChaR Charity CommissionlRewlator registered number. For the period from 01 November 2024 1129830 31 October 2025 Managlng Trust•è(6l durfng th• perf¢)d.. From 01 N0mber 2024 to 31 Octobor 2025 Nam• Lt Col PJ From Name From Fund Managerfs) durfng tho Fwiod: From 01 November 2024 to 26Au ust 2025 Name u Dura RGR Frorn 27Au ust 2025 31 Octob•r 2025 Namfr . Suresh Sambaham From to Namo Internal Audttor{s) durfng the p•riod: From 01 November 2024 to 31 October 2025 Name Ms S Bateson From to From to Assoclat• Auditor(s} during th• porlod: Associate Audftor Mrs D Rutter- Dra (ott and Kirk Chartered Accountants Reglmental Accountant{s) durlng the perfod: From 01 November 2024 31 Octobor 2025 Name Mrs A Clar* From Name From to
Slitcmcnt of fin•llelal Ae¢ivide5 as at 31110n025 Pag¢lofl Printed: 31110n025 02 PRI Pxxton+ Infint TNlnln Ctntre UnTestriduV tksigDatrdlGPF FwM15 ReoJidd Fut Totsl Funds Prnious Peric%1 Totsl Funds otomint Rts¢wr¢es oluntary In¢ome ¢liviiies for Cne¥alin8 Fund5 ny¢se Income In¢ome RcyMwcc5 from Chwit4b divitics In¢omiTh RtsoDr¢ei 0191 IR¢ohThl Resoxrees Expended Cost of 16.759.9J 1,714.75 5,549.51 119.19133 o. 875.41 o. 135.95128 29J.784.75 6.424.92 59,439.73 435.46633 13,109.72 97101.24 530.Eil os )1.4tyJ.g) 3.)0.0 41 1162Y2.14 3.530AQ 983.69 97J12A9 220.10 77 o. Inve51rnEnl Mw¢m¢ni Costs osts of Generntin8 Fund5 harit&blr Aclivili¢s v¢rnanc¢ Costs rathts and DonxioDS eT Costs otsl Resouyeos Ex llded ¢t lTr¢omlnglOufgolJz R<sourc¢s Befor¢ Trnnsftrs $f¢rs o.Tri 643.21 3C6.044.79 36J55A5 3,725.74 9,21152 981.1 o.(y) O.(#) 11&119.43 I8.73 7.159.12 124.91 0.00 fA3.21 424.16422 31,964.58 10,884.86 9,336.43 993.3 0.00 1,119.92 550.566.05 10.578.17 17J31.22 -23,628.61 o.c o.( 0.00 12 12.19 $5,444.94 13y&45 68990J9 49,78102 rDSS tsansfers beDveets thnds inn81 transfcr5) ¢1 resour¢e5 before oldln 105 ajd kjs Holding GaITh¢S ains on rcvaluation orth¢ 8rity'S red ASSd5 Unreali5ed GaiAthcs on invcslmenl &ss¢ts ei Mov¢m¢nt In FuAds eco1111ti0D of Funds otal lund$ brllet fonyanl rom prtvifjus yer olillwTrds ¢*rrkd fonvgrd o. o.(x) 50.(KJ 49.78102 5539&94 13J9S45 68,990J9 o, o. o. O.fy) 39 O.(Kp 49 782.02 94.94 13 17A041J• 5205&11 2W96.41 436.24 450J6
Paxton+ B#l•Dtt Shed- Ortober 21r25 Pige l of3 Prillted: 31110r2025 02 PRI IDfAntry Tnlolng Centre 002025 FIX Asscts 3289.60 CAPITAL PROPERTY 2J75.fy) 3339, Toul FIX As£ets 2J75.60 Cuffent A&%&$ I IOJ06.79 bjffik 4CCWIi 140973.82 TREASURY AccouKr O£K) D¢bto o.rA) srocK ON HAND 251:480.61 Totsl Currenl Assets 191 J50.61 140.973.82 332,349.43 254,770.21 Totsl Ass¢ 334.925.03 Liabilttt¢s 19.73625 Crediiots 74.20 PA YE OMI PENSIQN 1.65731 VAT ¢¢1r01 7,406.Q4 VAT payable 34.120.45 0.00 0.00 5.917.78 (28373.80) T[ LI[1111¢$ 140,03823) 225,8.41 Tothl Assa5 Minus Liabilits 294886.80 Toial Funds 51855.1 l Tal RestrtL*d FwM15 0.00 Towl Erthl F 0.00 Total DesigThat¢d Futhjs 173,041.30 Accumulated Tr8din8 & GPF 66.450J6 22&436.24 225,896.41 Total 294,886.80
Sh•¢l. Orfthr2025 hg¢2of3 Ptsd: 3iiion02S lip lf&•lry Trthlg Ceplr¢ kndof Fd# AttAfysai 0.00 .571.16 1 10.884.4M 2 rrij 1.758.95 HQ BN 130.19 REME 4.•55 95 ASC 1.817Jd HAIIAJI COMPANY ).651.03 PARA COY 3 112.0! OUARD5 COY 1.551.5) SC075 1,910.84 ADVEWTVRB TRAINI 2.5$1.42 RJFLES 2.281.45 SPOIiI5 747.93 CHURCH 5.51963 FAMtLIFts FUPIP IW65 . 5.556.84 153116 , 1.89 493.49 6J3J.37 4.185.1S 1,933.96 1.070 i.JO3_45 628.48 702J3 11210.34 IW2.46 wEARE VFHICLE 4021 FUND J.?ID.SI VENLK)RS Fi 135.53 ANZJO LI)Y Om 2fJ'B JUNIOIE RANKS FUND Dm VIMY JUNIOR RANKS FU -9144 5.587.04 207J3 4Jl3.15 Sa355.11 6.450.56 O.¢XJ (30,J18.20) TrIdi S1P D.00 Pnmy ¢r¥Ji•g 125,0$2.89 ppOse o.(vJ 55.394.94 94,564.69 Ti•dltsB a GPF rp1 78.476.61 14 bHIMK¢ Js).#4 173.041.30 1?3.04IJO Ae¢wwl¥W GPP 215.436.24 22S,XS¥*41 fjmd i(dal 291.816.
PaxtOA+ BJan¢e Sheel- October 2025 P4ge 3 of3 Printed: 31110r2025 02 PRI IllfaDtry TrAiniDg Celltre fl Si8nattEre of Mwing Trn¢
General Pu osg Fundlunrestrfcted Fund8 ana sis as at.............. ExpenditurelLosses Current Previous IncomelGains ended Resources EXLJ Period Incomi INVESTMENT VOLUNTARY INCOME MANAGEMENT COSTS A1 A6 Current Perfod Previous Period COSTS OF GENERATING FUNDS ACTIVITIES FOR GENERATING FUND CHARITABLE ACTIVITIES A8 INVESTMENT INCOME A3 INCOME RESOURCES FROM CHARITABLE ACTIVITIES A4 GOVE A9 NANCE COSTS GRANTS AND DONATIONS A10 OTHER INCOMING RESOURCES A5 OTHER COSTS A11 i[ERNAL TRANSFERS 2 A12 INTERNAL TRANSFERS GAIN ON REVALUATION OF FIXED ASSETS A13 UNREALISED LOSS ON INVESTh1ENTS A14 NR ISE ON INVE TMENTS Total Expendtture Excess of Income Total Income Ex(xss of Expenditure Grand Tolals Grand Totals l Thi5 will include transfr iticludin8 those to designawj fi]nds. 2 Thi5 will include all tran5f¢rs including those from designated (wd%.
unrestrict Trading A¢Unt analysls as at.......................-.. (date) (note Paxton Plus autmtically completes this) ExpenditurelLosses Resources ended CHARITABLE ACTIVITIE Trading purchases including trade expenses less write offlmess uestslcost sales. Opening Stod(- Closing stock Current P8riod Previous Period In(x)melGains Incomin Resowces INCOME RESOURCES FROM CHARITABLE ACTIVITIES A4 Trading sales less eA)st pri sales Current PrevUS Period Addlsubtract to TradirYJ purchases as above Adjusted trading purchases to be used at SOFA cdl A8
Not•s to the Accounts (Paras 2 to 12 ar• to be comwed by all funds whlch have a gross incorne of £100K or over and th funds already reglstered wlth the Charlty Regulator, all other fvnds are to complets Paras 6 and 7 and th• d¢claratlons at Para 12): Prind al Accounti Policies Accountin Convention. The finanaal ststents are prepared under the historitl cost convention as modified by the indusion of investments at market value and in accordance with applicable aCUnting stsndards. In preparing the financial statements the charity follows best practice as set out in the Statement of ReccKnmended Pradic8 'Accounling and Reporting by Ch8rities' (SORP) 2CQ5 htt ..IlvAwN.chari mission. v.ukfinvesti tTronslso 5docs.as Incomin Resources. Income is recognised in the period in which the charity is entitlad to receipt. and the amount can be measured with reasonable certainty. Grants from other agencies induding donations and other income from activities are in furtherance of the charity's objects and ar8 part of the general funds of the charity. A restricted fund is only recognised where this is an agreed and explicit condibon of the grant or dorK)r. Intan "ble Income. Due to the dose collaatiVe rlK)nship and the manner in which the charity's activities comlMent those of the Amiy. intsngible incorne. reflected in time and use of premises is not quantifiable or measLwable and so is rt recognised in the accounts. Resources nded and Basis of Allocation of sts. Expenditure is induded when incurred or exceptionally where a commitinenl is made which requires an accrual when payment is to be mad8 in the subsequent accounting period. Similarly. where prepayments are rnade In recognition of commitments falling due in a subsequent accounting period, the appropriate ¢redtt is entered in th8 accounts and reversed the foll0vng year. Grdnts Payab are included in the SOFA when approved by the Managing Trustee. Exp8rwJiture is reccJnised in the period in vthich it is incurred. The majority of costs are directly attributable to SP8cific activities. Irracoverable VAT is charged to the activity for which it was incurred. Govemance Costs. GovernCe costs are the costs of professional advice. holding trustee meetings or committe8 meetings associated V•th decision makiTrJ. any fee for audit or independent examination and any fee incurred in the preparation. statutory filing, printirvJ or copying of the annual rep¢)rt and accounts. italisation and De reciation of Tan ible FIx6d Assets. All assets hawng a purchasé value of more than £500 are capitalised. The cost of tarvJible fixed assets are written off by 8qual annual instalments ovw their expected useful lives using the following methods of d8preciation: Straight Lin8 over 8 period of 2 - 10 years. Straight Line over a period of 2- 10 years. Assets with a lrfe of more than one year txrt *ith a purthase value of below £500 are induded wthin the inventory but the ojst is I1tten off in the year it is incurred and is not depreciated over the useful lrfe of the asseL Where the asset is depreciated over a period of more than 10 years, details of the item and pwiod are to be provKled folk)wing the notes on page 14. Fixed Asset Inv8strnents. Fed asset inveslJnents are included at market value at the balance sheet date. Any gain or loss on revaluation is shown in the Statement of Financkal Actiwtigs (SOFA). Fumiture, rtureS and equipment Motor vehicles t cks. Purchased stocks are v8lued at the lower st or net re81isable value making due allowance for any obsolete or slowwmoving items. . Funds hekj by th8 chaiity are: FurKls Accoun
(1) General Pu elunres cted es nated Funds. These arè funds that can be used in accordance with the charitable objects at the diStiOn of the Managing Trustee. Designated funds are unrestricted funds which have been allocatedlearniarked for a particular purpose by the Managing Trustee and are to be declared in the Managing Trustses Mments in accordan wlh Para 12 to thes8 notes statiro what they are intended to be used for and when. (2) Endowment Funds. EnthJwment furKls are tlx>se investments and other gifts accepted ty the unit. G8pital sum or property being held in perpetuity and the income only being availabl8 for charitsble use. (3) Restricted Funds. These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or vh)en funds are raised for parboJlar restrtcted purposes. Furthenexplanation of tha nature arKI purpos8 of each fund is to be incIjed in the notes to the accounts. Herita e Assets. In the course of the unit's history. th8 tharity may have acquired gifts, memorabilia. regalia, silverware. ant*4ues and other historical artefacts in the course of distinguished military service in service of the Crown. The value of these pieces is in Earge part derived from their dose association with Regimenlal history which procludes the use of conventional valuation techniques being applied. Whilst the objects of the charity do not specifically include preservation and consepiation. the pi8ces represent an essential element of celebrating the unit's history and foster esprit-dewcorps. Consequently the Managing Trustee csiderS the charity to hold heritage assets both for fijnctional use and as an element of national htstory on behalf of Ihe nation. Heritage assets acquired prior to 1 Apr 06 are therefore not capitalis6d on the balance sheet but a description of those assets is disclosed as part of the notes to the ac(>Junts. Heritage assets acquired after 1 Apr 06 where the wrchase price is known and which exceed £500.00 are included in the balance sheet at acquiSitn value but are not derKeciat8d. Other Costs. Olher costs are those costs not incurred in the undertaking of charitable activity in furtherance of the obj.ects of the charity. i.e. the provision of facilities. recreational programmes or activities in furtheran¢e of military efficienw. They are also costs inCued in the making of grants and dOnat)nS. in the costs of g8ngrating funds. 1.8. the costs Incurred in trading or fundraising undertak8n by the charity. or in governan costs.
Grants Made. (if total grants are over 5% of the chariVs total expenditure). The chanty madé the following grantsl(lonations: Grants to institutions Name of inslitutions Purpose Totsl number of rants iven Total amount of rants NIL NIA Total grants to institutions 0.00 Grants to individuals Purpose Total number of rants Nen Total amount of rants aid 0.00 NIL Total 0.00 Related Pa Transactions & Remuneration arrtl Ex Whllst the charity has a dose w(xking relationship with the Amy. there are no transactions with the Amiy which require disclosLKe under SORP 2005. The onty tranSaCn5 made by th8 charity in favour of th8 unit ar8 wholly attributable to the charitsble activities of furthering military efficiency. The Managing Trustee is an officer or equivalent and fulfils the role as trustee in accordance wtth the applicable laws and regulations. No expenses have been paid to the trustee. In the event that expenses have be8n paKI to the trustee these are disdosed under the Managing Tntstee's )rnments. Ana sis of Ca ital Pro Fixtures. frttings & equipment Motor vehicles Total Balance blf Purchases Sales & WIOS ration Balance CM 3289.60 549.00 0.00 1263.00 2575.60 0.00 0.00 0.00 0.00 3289.60 549.00 1263.(Xi 2575.60 io
Total Value of Investmenls b Cat Value £ in value market value at innin Add additions to investments at cost investments Less dis osals at ca valu8 investments sokl Addl(deduct) net gainl(loss) on revaluation (gairvloss at end of accounti riodlaudit value market value 0.00 0.00 0.00 0.00 at end of 0.00 Breakdown of Market Values at Year En GPFI Unrestricted Value £ Restricted ErKJovmient Total value Value £ Incom8 durin ar Value £ Value £ Value £ Investment properties Investments listed on a recognised stock exchan Investments hekl in unit Irusts or other collective investment schemes Investments In subsidiary or connected undertakings arKJ Com anies Securities not Irsted on a recognised Stock Exchan Cash held as part of the inv8strn8nt rtfolio Other investments 0.00 0.00 0.00 0.00 0.00 Total 0.00 0.00 0.00 0.00 List of Debtors Debtor D6btor- Misc Date of Debt Amount 31 Oct 25 25.00 Total ' There are no amounts fallirvJ due after more than one year (delete as appropriate). List of Creditors 25.00 Creditor Bèatin Retreat B TF-Normand ITC Boxin JOOCPF Dale ol Credit Amount 31-Oct-25 717.54 -1128.90 39446.77 290.00 39326.31 Total . There are no amourrts falling due after m¢xe than one year {del8le as aN)ropriate). Paid Em lo Gross wa aid lo erfs National Insurance Pension Contributions This ar£ 0.00 0.00 0.00 Last ar£ 0.00 0.00 0.00
Tt)lal stsff costs 0.00 0.00 Give the number of employees who were engaged in eath of the followin This activities: ear Last Costs of eneratin Charitable activities other funds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total No Individual employee received a salary of over £60000.1)0 Govemance Costs This Last ar£ 0.00 Audit or inde ndent examination fee 0.00 10. Restrict8dl t Funds Give details of th8 movements of the individual funds summarised in the restri(X8d and éndowment column of the Statements of Financial Activities (SOFA). Fund Nam• Fund Bal Incomlng Outgolng Galns and Fund Bal- cffi 1 ITB 21TB HQ BN ITC REME ASC BABAJI COY PARA COY GDS COY SCOTS ADVENTURE TRG RIFLES SPORTS CHURCH FUND FAMILIES FUND GOLF FUND WELFARE VEHICLE Qms FUND VENDORS FUND ANZIO COY 2 ITB JR RANKS FUND VIMY JR RANKS FUND TOTALS 8571.16 10884.44 1758.95 130.89 4055.95 1887.54 1631.03 3372.02 1531.53 1910.84 2558.42 2281.45 747.93 5519.63 872.52 892.46 402.01 3710.81 135.53 0.00 0.00 52855.11 13647.95 16398.28 8000.00 618.00 5958.64 3314.71 11050.00 8617.62 1504.00 0.00 3318.15 14806.05 0.00 15248.50 730.00 28333.00 917.00 2475.00 72.00 4313.85 2184.89 141507.64 4801.03 20789.38 7226.79 747.00 7316.53 4773.76 6347.66 7804.49 1081.57 840.00 4573.12 10279.02 1169.57 50.00 18587.65 i 5373.77 2532.16 1169.57 D.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 . 2698.06 428.49 6333.37 4185.15 1953.96 1070.84 .45 808. .53 11210.34 33.28 -9870.18 919.01 5537.04 207.53 4313.85 2184.89 66515.56 9557.79 1569.24 39095.64 400.00 648.77 0.00 0.00 0.00 127897.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1169.57 0.00 1219.57 12
A brief explanation as to the nature and wrpose of ts tharity's RestrKwJ FuTrJs is to be wovided. . Nam• of RtrIct Fund 11TB 21TB HQBn REME Drums Baba'l Co Para Co Gds Co Scots Adventure Trainin Rifles Provide amenities and Welfare Su rt to 1 ITB MilFta Personnel Provide am8nities and Welfare Su rt to 2 ITB Milila Personnel Provide amenities and Welfare Su ort lo HQ Bn Milita Personnel Provide amenities and Welfare Su rt to REME Miltta Personnel Provide amenities a1 Welfare Su ort to ASC Miltla Personnel Providé amenities and Welfare Su rt to Baba i Miltta Personn81 Provide ameniti'es and Welfare Su orl to Para Co Milita Personnel Provide amenrties and Welfare Su ort to Gds Co Milita Personnel Provide amenities and Welfare Su rt to Scots Milita Personnel Provide Adventure Trainin to all Milits Personnel Provide amenities arKI Welfare Su rt to Rifies Millia Personnel Provide all s rtin acttvities to milita rsonnel Provide welfare su ort to Milita OM81 Prowde amenities and welfare su ort to Milila Provide olfin activities to Milita ersonnel Provide Welfare trans rt to all milita ersonnel Provide amenities and wèlfare su ort to Qms Milita ersonnel Sellers at POP donate moniès for the PRI. used by SQM to improve facilities a1 R8ttUit Welfare. To rovide amenities and Welfare su (t to Anio C Now closed wef 31 Oct 25 Now dosed wef 31 Oct 25 Church Families Fund Golf welfa Vehide Qms Fund Vendors Fund Families Anao Co 2 ITB Junior Ranks Wim Is Junior Ranks rsonnel Tita e Assets. Heritage assets that are owned by the charTty bth purchasedlacquired prior to 1 Apr 06 are not included in the charity's capital property value (se8 note 1.j). A lisudescription of ttrftse assets is below". 12. Dedarations All of the chanty's commrtments are provided for in the accounts. No guarantees have been given to third partie& Thé chartty has not received any loans that are outstanding at the yearrKI secured on assets. The charity has not granted any loans to institutKns or companies connected with the charfty. The charity did not make any ex-gratia payments during th8 year. Sufficient resources are held In an appropriate fom to enable each fund to be applied in accordan with the restrictions imposed. The financial activitses. assets and liabilitiès of all the charitys branches or sectlons have been Included. The tntstees have not changed the year erKI date or the lerw of the drity'S financial year. 13
The chanty has no designated funds (rf there are designated funds th8 reason for designation and when each designated fund is intended to be used by is to be stated in the Managing Trustee r8POrt). All the charity's op8rations are continuing operalbms and tr*re were no operations dlscontinued or acquired during the year. No funds (unrestricted. designated. restricted or er) are in deficit at the balance sheet date. The charity has no intsTrJible assets. There were no inter-fund loans outsts11Th at the balance sheet dale. None of the charity's functional fixed assets have been rtrvalued during the year and the charity do8s not have a policy of r8vaILon of these assets. The charity h88 no subsidiary companies. The charity has no material fixed assets which have not baen cawlalis8d and induded in the balance sheet. No intemal transfers hav8 occurred out of restrictedlendowment funds. In event that a transfer has tsken place, full details of the reason for th8 transfer are disclosed in the Managing Trustee's comments. All investsnents hdd are investment assets in the UK unless otherw5se ststed. Note: Where any of the dedaratiorts are not re¢l. they are to be crossed out and details provided in th8 Managing Trustees comments. 14
Additional comments: The Net Working Capitsl of the fund is more than sufficient f¢x tr18 needs of the fund. We hold quarterfy Managing Trustee Meetings, where wè determine whethar the indNidual Bn RF'S require an uplift. Additionally. a review of subscxiptions is conducted at least twice a year durirg these meetings. l am currenty content V*ith the subscriptions and that the fvnds are being managed accordIng. Property checks have been undertakirYJ throughout the financ4al year. Insurance is adequate for the fund, however a full valualion of all propety contsined wilhin the Establishment Funds is being organised. Insurance for each Fund will then be assessed bas8d on the valuations and amended a¢cordingty. I have no further comment Signatur8: Name: ' Suresh Sambaham he Date: vc Fund Manager (Regimental Accountant Sch8me} l Account Holder {Audit Board Schemè) pointment Is
Managlng Trusts•'s Annual Report and Comments: Infanty Training Centre. Cattwidt Vimy Barracks. Catterick Gaffison. North yorkshi DL9 3PS FundlGhaHty Unit: Address: In Respect of the: PRI Charity name and Charity CommissionlRegulalor registered number. Description of the charity's trusts 1129830 This should include: D8iails, includirvJ date rf kThJwn of the charity's goveming doojment (e.g. trust deed, will, constitution etc): and A brief explanation of the charivs objects. Where appli1ble, you may choose lo give detsils of any speafic investment werS of the charity. PRI Constitution Doufflwnt date 07 Jul 2016 and formally adopted at Committee Meeling Governing Document (e.g. Trust Deed. Constitution) Objects of the Charity The prwolh?n of efficiency of the Amied Forces of the Crown by the pro%ision ar support of faciliti8s and adivities for the efficiency and well- of service rsonnel. Explain briefly how trustees are elected or app)inted and details of any induction and tru5tge training attendéd. Trustee selection method In accordanc8 With Queen's Regulations for the Amiy 1975, chapter 5, the Commanding Officer HQ Bn is designated as Managing Trustee for this Service (Charitable) Fund. Trustee induction and training The Managing Trustee Lt Col Morgan has attended the Commanding offirS Designate Course (CODC) on 23106123. The Fund Manager, Maj Suresh Sambaharnphe cx>mpleted his online FM e- learni on 17 Jun 25 16
Explain aboLrt what the c*arity is ty'ng to do and how it is going about it. You are only required to provide a brief summary of ts main activities and achievements of charity during the year in relation to its objects. Summary of main activities in relation to the Charity's objects The funds objects are based on tt)e need to maintsin th8 moral component rf Fighting Power and Unit cohesTron thn)ugh thè development and maintenancè of Regimental ethos. The maintenance of a broader Regimental ethos is fundamental to the way Offir$ and soldiers are recruited. Retained. and developed. It is achieved throwJh a combination of Regimental dinner nights, seasonal functions and lunches to achieve cx)hesion and reinfor¢e Regimental boThls and in wrchasing ttems to mark important Regimentsl dates and events and im roved the lived e erience of our workforce. In line with its objectives. the fund has supported several social and sportir¥J events this year. Summary ofmain achievements of the Charity during the year BeatiTrJ of the Retreat Families Day Children's Halloween Paty Boxing Night Ex Frosted Blade Children's Xmas Paty Tour Provide a tfief review of the finarKial posthon of lh8 drity. This shouhj include the wncipal types of income. Financial Review The Funds finances remain healthy and there has not been an undue accumulation of funds dLwing this audit period. The wimary source of income is derived from rnembership subscrlptions and sho The Managing Trustee shouhj give in their repcKI a description of the following policies: For the selection of investments for the charity. For determining the level of income reserves held. stating and explainiThJ the level of reserves hekl. Whem grarrts are made by the charity. the selectK)n of individuals arKI institutions wlK¥ are to receive grants out of the assets of the charity. Finanual res8rves policy My direction to the FM is lo ensure that there is sufficient income to meet expeTrJiture. and this inckKles foreIStIng large expenditure and raisin9 income acccKdingty. l am ojnfortable with the tolal worth of the fund to rise in line with inflation and any excess of Income over Expenditure sluk1 not exceed 5% without furth8r explanalion. I hwrfe set th8 finan(ial reserrfe limit to £5k; before any expenditur8 is committed tt)at will resuft on the furKI dipping below this thres1ld it will uire m rior a roval. Inv8strnents selection policy and perfomiance of thos8 investments. NIA 17
Provide the name of all trusteeslthe Managing Trustee(s) durlng the report year. Lt Col P J Morgan, Ll Col A Whitaker. Lt Col B Salt, Ll Col B Jesty. Lt Col J Cronin. W01 (RSM) C O'Brien. W01 (RSM) B Young Managing Trustee's namellru3tees' name8 Serious Incidents None Public Benefit ststement This fund provides public benefft by asslstlng service personnel to perfonn more effectively perforni withln the Amied Forces of the Crown. It does thi8 by pmwding and supporting sports events. adventure trainirwJ aTrJ welfare activities. This assistance enables servic8 personnel io face the Ghallenges and danger associated with milttary Sel¢e by developing and Maintaining teamwo. skills; rrtness" c(Jffidence, tharacter. spirit and atttlude,. and morale. As a result. the fund womotes the efficiency of the Armed Forces of the Crown by enhancing the British Amiy's capabilty lo undertake the roles demanded of rt induding the defence of the Untied Kingdom and ts intsrests. I confirm that I have paid due regard to the Charity Commission of En9larvJ and Wales's guidance publ•c benefit vthen deciding what activities the charity strw)uld undertake. 18
Additsork21 cx)mments (include any declaratims which were rK)t ce¢t (Pg 12113)): Overall, this is a well-run fund that is vrtal to the mora18 of the Estabbshment for the pennanent staff and recruits alike. Net Wothng Capital is considered to be at the ritht18vel for our requirements, arKI this will continually be reviewed as we adjust our operatirYJ model at ITC. Subscriptions will continue to be revie4ved on a ts4nnual basis as stated by the FM but are currentty where they need to be. I have no further comment or observations to make. Synature: Ll Col PJ Mor Date: Appointsnent COHQBnlT 19
Intornal AudltrfslAudlt Board Rewt "IAWO hav8 examTned the book5 of account ar records from whith the final accounts were prepared and have obtained all the infomation arKI expknations that were necessary for the purpose of 'myleuF intemal audit. "Irwo Certify that end of per checks have been CryKluctsd in accordance with Service Funds Regulations. Subject to the observations given bekyw l amA%w" satisfied that woper 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. Subj'ect also to 'myleuF observations "l aMIwfra satisfied that cash armj bank balances arKI stocks on hand have begn properly checked al prescribed interrfals and that adequate insuran(x exists. 'IAlle have stsmped and signed the orbginal books of account and the original records IA¥e have checked. All vouthers relatirvJ to this amnt pd have been cancelled. Previ$ observations 'have1pa¥ been actioned (list Ihose obsep4ations outstanding). NIA. "IAOl• have rnad8 the folloryng observations whilst carying out th8 intemal audrt: Exocutlve Surnmary The total fund valu8 has increased by 30.54% (£294.886.80- £225896.41- £68.990.39) and within the MTS financial reserved policy. The liquidity sits at 3.30% (£332,324.43 1 (£34.120.45 + £66,450.56)) this means ther& is SLrfficient liquid a5sels for the Fund to meet its liabiliti8S. Based on the material reviewed. I condude that the govemance and control of proce& are satisfactory. Flnanclal oTY1•W Fund Income. Th8 gross incoming resources has exceeded £100.OIM).00: the fund is registered with the Charity CommissK>n and is subject to an annual IndeFelentAUdlt. 10. Llquldity. The liquidity sits at 3.30. meaning the fund has suffitxnt Ilquid ass8ts to meet its lialylities. Flxed Assets. During the reporting period the fad assets of the PRI have decrease by 21.7% (£714.00). This is discussed at paragraFth 4 to the Notes of the Accwnts. and can be attributed to: Straight line depreciation of £714.00. 12. Current Assots. Dwing th8 reporling pervjd, the current assets of the fund have inrxgased by 31.46% (£80,154.82). This is attributed to several factors: An increas8 in current account mainly from subscriptions, PRI slK>P profft and not paying VAT (Armex) and the hb3h interest Treasury Accounts annual interest. Th8re have been more recruits into training in the last financial year. 13. Investments. Investrnents are discsed every 6 months at the Managing Trustee Meeting but currently there is no plan to take out any investments. The Treasury AOUnt is a high interest account that can be used rf necessary and is seen as the best option at this time. 20
14. Unrestrfcted Funds. Unrestricted funds income ex¢%eded eXndItUre in this financial year. Th8 majority of income is generated from subscriptiorE and Amex Profit It is assèssed sub6criptions are set at the correct value but are to be reviewed at least twi a year. 15. Restrfcted Funds. Detailed infomiation is available in the Restrtcted Funds anatysis contained in the Fund Retum Summary within the financial bundle. Funds are revi8wed at every PRI meeting to ensure they are still required and utilised, nurnerous fvrKls have been cknsed over the aCUnting period as they W8re no longer needed. The followi funds are worthy of menti)n: Welfare vehicle is rM)w a minus balance of -£9.870.18. This amount will reduc8 through tlme as funds are raised from the hire of the vehicle arJJ used to offset running costs and reduc8 the debL The PRI have purchased a new vehicle in this teporting p8riod which is why the RF now shows as a minus figure. An Intemal Transfer has 0Urred b8tween 2 ITB and 1 ITB due to the families. day funds for Phase 1 reItS in Basic Training. As 2 ITB no longer conduct Basic Training, the balanc8 was transferred to 1 ITB as they Iwll sow deal with all aspects of Basic Training going forward so this wli I not re0cr. 16. Dobtors. Debt represents 0.01 % of CurrentAssets. amounting to £25. It is noted that this debtor has already been cleared into the new financial year. Debtors should deared as soon as possible. aft8r 3 rnonths they are classed as Aged Debtors arKI need lo b8 dwed by the FM. 17. Creditors. The Fund has creditors amountir¥J to £34.120.45" tteditors should ordinarily be deared within 30 days. The FM needs to liaise with the RA to dear down the loro-standing creditors as a priority. Point worthy of rK)te are: The BFf Nomandy is a minus balance of -£1128.90. This needs to be cleared as a priority. This has èndured for over 6 months and should be cleared from the 2 ITB RF as it was planned 2 ITB actsvity. The ITC Boxing Nlghl is a (Tedilor for £30,641.81. This event takes place In Nov each year so will be stgnificanty reduced as the funds are Ltsed on this event. Tradlng AccounL The PRI no lon98r holds any stod(. Control M•asures 18. 19. During the reporknng p10d the Continuous audit has established that the vouchers audrted demonstrated Ihal the FM and c4)rnmittee were (x)rr• obseNing the operating practices detsiled withing the Constitution and the Charter. 20. issues. There have been 4 propety checks completed during this audit P8rnd and there no o?ncems or 21. The FM is content that the insurance val$ are appropriat8. &gnaiure: Name: Ms S Bat&wn Dat8: AppointrnenL' 21
ComdlS02 SPS- Ind•pendont Examln•f8 R•wt on th• Accounts. and comments Res ective Res onsibilitss of Trustees and Examiner The Charity's Trustées are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under seclK)n 43(2) of the Charities Act 1993 (th8 Act) and that an indepeThJent examination is need8d. It is my responsibility to: Examine the acnts {under section 43(3Xa) of Ihe Act). Follow the procedw8s laid down in the General Directions given by the Chartty Commissioners (under section 43(7Xb) of the Acl). Stale whether particular matters have come to my attention. Basis of Ind8 endent Examin tateme My examination was carried out in aCCordare with General DireclK)ns given by the Charity Commissioners. An examination includ8s a review of the accounting records kept by the Charity and a comparison of the accounts presented with those reo)rds. It also includes consM4eration of any unusual items or disdosures in the accounts. arKI se&king explanalions from the trustees ¢Cem1ng any such matters. The procedures undertaken do not provide all the evKJerMX that would be requirèd in an audit. and consequently I do not expr8ss an audit opinion on accounts. Inde endent Exami r's Statement In connection viith my examination. matter has o)m8 to my attention (other than that disdosed overiear).. Whlch gives me reasonab cause to believe that in any material respect the requirements: (1) To keep aUnting rectxds in arxordance with sèctKJn 41 of the 1993 Act: To prepare accounts which accord the a¢xountirKJ records and ccrfnply the accounting requirements of the Act (2) have not been met. To which, in rny opinion. attention st#k1 be drawn in order to enable a proper urthrstanding of the accounts to be rèached. Delete as applicable.
Tide of Trading Account Percentage Profft Current PrevhxL8 25
PERCENTAGE PR IT CALCULATOR Ilntemal use only- not required by the tharity regulator) LD ST OF GOODS Enter the FIRST LINE total fryure from thè LEFf-HAND pago of the AB 397. (1) Enter the total amount rf EXPENSES charged. DEDUCT figur•12) from figurn (1). Enter the totsl omount of goods DISPOSED OF AT COST (M•ss guests, Write offs ètc) Enter the value of the CLOSING STOCK At COST PRICE. (3) (4) ADD flguro (3) to fig (4}. STOF DS SOLD NC ME FROM SALES: Enter th• FINAL total from t RIGHT-HAND page of tho AB 397 Entèr flgure B fr•)m abovo (6) DEDUCT figure {6) from Ilgure {5). ROFIT: Enter Income from Sales - FIGURE D (7) Enter Co81 of Goods Sold- FIGURE C DEDUCT ftyure (8) from figurn17). PERCENTAGE PROFIT IS THEREFORE: EX1 (To two d•clmal places) CROSS CHECK: FIGURE E (GROSS PROFITI DEDUCT EXPENSES CHARGED ? A8397 PROFIT (NET PROFIT) Tradlng Account detalts: 24
ComdlS02 SPS - Independont Examlnerfs Report on th• Accoun and Comments Disclosure Section (Only lo be completed if the examiner needs to highlight material problemsldiscrepanGie5) Give here brief detai18 of any items that the examiner wishes to dis¢lose: ComdlS02 SPS Cornments A/c// 74r. .5 &.. J" A.J ,S IJ 4 Independent EXarnInS Swa Name: Ma Date: Appointment S02H North Bde 23