REGtSTEREDCOMPAPIY NVMBEL"071NISY97IEllgland and Walesl REGISTERED CHARITY NUMBER: 1151977 REPORTOFTHETRUSTEESAND CCW50UDATEO FINANCIA(￿AlEmENrs FOR THE YEAR ENDE031 DECEMBER 2025 FOR ThE PARACHLITg REGIMENT AWAV(BOftAÉ FORCES ￿ARITYTIAs1JPP0RT OVR PJ 8Tt8ht Brown Limrted CharteredAceountsnts StatutoryAudit•r Ex£kn6e House St. Cr0$5 Lanp Newport IsleofWiEht P030 58Z THE PARACHLIYE RE61MENY Af4D AIRBORNE FORCESCHARITYTIAWPPORT OURPARAS CONTENTSOFThE FINANC1AisfA7eM￿yS FOR THEYEAR ENDED 31 DECEMBÉRZOZ3 Page REPDrt of theTrustees Ito9 Report of the IndeperdentAudtt￿5 IOto12 Ctrnsolidated StsteM￿t0f FlnancrolAttiVitses CDn541id3ted BalanreSheeE 14 Parert5tstement of Fir*•cial Art￿ttleS 15 Parent B?lanc2ShEet 16 Consolldated Cath Mow Statement 17 NotestotheCon501idated Cash 5tst¢rnent 18 fentcisb Fl¢)wStatement 19 Notestothe Parent Cash OOWStatem￿t Notsst¢ thR FIrpa￿al St•tsments 2Lte41 THE PARACbtLifE REGIMENT ANOAIRBORNE FORCES CHARITY REPORTOFTHE TrUSTEES FQR ThE YEAR ENDED 31 DecEM3ER 20 Thè Trustees, who ore aL%o threttors of 1he Ch8rityftsr thÈ pUrpll￿ Df the CDmpènie5 Act 2006. present their report with the fin3nckl statements ¢f the chèrfty f•rtheye8r ended 31 December 2023. TheTrustees have 8dopted ihe provis(ons of Accwntyns aTrd Reporting by Charitiès-. Statement of Retommended Pra4ti¢e ISORPI èpplicableto charityes preparing th•r accounts in accordan￿ with the fvnantlal Reporting Siandard applicable lo the UK and Republic of Ireland IFRS 1021 ljinijary 20191. 5fRucfuRE GovERN￿cEAN0 MANAGEMENT 6overningDDrurnent The Parachute Regirnentan*J Airbgrne Forcts tharityis a ch2ritableCempany ￿MIted by GuaTantee ICLGI, asijefined bythe Companies Act2006, Incorporated on I September 2CQ3 8Thd regi5tergd asa Chathylf%g. 11319771 on S 0rtgb¢r 2009.The CtsmpèY>ywds e5trablished under a Memuandum of Nssou3tion Idated I september20(￿ and amended tsn 10 Juty 20131. which estsblished the objects ènd powers gf th* charltable CoJnpany And is go￿rned under Its Ar[Kl￿ uf Associ*ion. In the eventof the Company beingwound up. member5 are required to contribute an amount Dottxwding £5. ITr 2019, theTrustt¥ ofThe PaTèthvte Regiment ChartL¥lPRCI RCN 1131977 and siSterch3ritytheAirborne Forcessecurity Fund {A￿FI ftCN 206652, aB unincorporated trusL respectively 38reed to merge to form The Parachute Regiment and Airborne Ft)r￿s￿aritylPRAFQ.rrad1￿gè$s￿PpTrrt0LtrpaT25, eIf￿￿e350f 1￿[￿ary202￿.TrU5tees olthe rnErged Charity were drawn froJn bath antecedents. As part of the merEer. the Artides were updated in November 2019 to reflett the widening of Objetts to includè AwbpFDP Force5 benefi¢iarie5. Th15 Report Accounts tovers the fourth ￿1( year of Ope￿tion underthe PRAFC name. The Charitywholl¥ trdding subsidiaries. Aep Retail Limited and PARAS'IO Limrfted l?5 detailed belowl and is also thè sule MernbgroffA¢rb0me￿5au1tL[MI￿e￿ IAALI, a registered charityla5 detailed btlvwl. The Chat(ty and itssvb5idiaries formThe ParachutÈ RÈ8iment and Airborne FDrce5 Charity Grovp. as reported hi the Con501idation CDmPDnentS Df this set of accounts. The tharrty Is the SDle parènt otfyio tr￿J￿g suts¥tharies= A8P Ret*1 timited. a company re8isteT2d in England and Wales Ir¢wstrered rumber.. 060090281. and P￿RA￿l0 Umited, a company tegistered in England and W41¢s IresT5tered number.. 083681991. bath ofwhKh trade in supportof the Charity. AAL6a tharitableCLG, incorprtr*edor 7 November 20D8 and rÈgisterÈd as ) thrtty11126776loTr 18 Ntryefflber 2008. The Chartty's ArtldES of A550riation were rewsed and updated by spÈtial r2strlutlon 6 Febnjary 2014. From l J3nuary 2014 the then Pèrachute Re8lment Ch8rity bÉcamÈthE sole CBTPOJate member Df AAL and also entered into a rertew3￿e >ye3r furjdlng agreemÈntttt prov￿? fi￿n¢￿1 support. By virtuè ofthi5. AALIS now contfolled by the PRAFC. This agreement was suctessivdy renewed OD 01 Ja￿vary oF2017. 2020 and 2023. Committe*s The charlty has five con)rntiee5whith meetseparatoWand rtpcrtta the main Board olTrustee50n key are15-. Financeand InYe5tm2ntlFKI,'wdfa￿9nd Bene¥olEnce (WgCI,-Fundr8isingafjdMèrketihg IFMCI.. Herita8eand Comrn2rn0ratiDns (H￿., Re8lmental Efficiency IRECI. whkh was er•3ted durin8 2021 to coordinate efforts On this char¢tsble otsj2Etive. These ¢ommittees consistof aTrustee Chairwith other ThOmlnatedTrust￿s. ÈxectttT￿ and èdvisoJ5. A50f 2023. the reThitofthe prioTGovernatKeand Succession CorTrmiitee IGSClwill hEn￿Orth be fulfilled and dixh4rged bya styEleTrvsteenomintted 45 &)ver￿n(e Lead to direcdysuppart ihe ChatrTnan. pluso rbomiTWted Deputy, T3therthan by afull Committee. The BoardofTru5*?shasdelEgated5pecfficre5ponsibilitieglocomm￿tteÈS.ThèFIcadvI5e5 on rn3nagementof the Charit¥'$ ihvéstmÈnts, as well as reviewin8 5tratp&c financ181 Matte￿ and makes recornmendatloTrs to the Board. Ihe Governan Lead and his OÈputy h3ve dele￿ted authortry tQ SUPPDrt the C￿31rMan in FdentifyÉn& approaching and putting forward potsDt*l new tFUStpes for the Boards ¢onsidRratign, as well as to suppert the Chairman ond Board wlth ovetsighi of Governance matt&is. including Rbk Asse$5mErt. The WBC reviews and recornmends Welf?re policy and str3te¥ic development to th¢ 803rd and supports thE Welfare Team by reV￿WiThg Cas￿ Qutside its delegated author¥ty. The FMC advtses the Sotrd and support5 the CEO and Head ul Fundréas￿¥ & Comms in fund¥atslng strategy end direttion. The HCC advises thE Boèrd on sirate8ie poliry wth regard ro Heritage ind CommernA>rètive pfozrdmme$, a5 well as an anwal pm8rammÈ O*fLm￿lrts.The RECadvises on 8pplicat￿nSfOrfUndS fromthe servin8 Re8imenL notcovered byznnualgra￿ts. Pagel THE PARACHUTE RESINJEWT AN) AIRSORNE CHARITY REPORTOFTHETRU5TEES FOR THE YEAR ENDEfJ31 DECEMBER ZI)23 The Charity BD3rd mzk25 regular Teview of policy and its r￿k re¢￿ter and participates acknve￿ in p2ri0dic re￿ewS of 8¢vernBnc* b•st praalc*. usln8 industrwstsndard tools endorsed by thè tt)i1Stsry tharry trade association Cob520 (Confederation of SÈrviceOrganisationsl.The 8oard atso wo￿5(10$e￿￿1ththe SEnior Man38¢mentTeam t03greeforward stfdte8ytoa >¥earhor1￿n. The Board ofTntstees TheTrusteeswhD have52rved duringtheperied£nd since the perlod endaTesÈtttuton p8ge& VnderitsArticle5.the B94td ompri5¢s no rThorethan 15 Trustees at any one time. TheTtV5teÈ5 rffleet quarterfyto disCU55 i55ues relevantto th• Charity and its future dÈveltspment antltomake suchdecisians astre Tequired by itsArt￿le> To r2mainagile r￿ponsIvet0 the need$ of beneflcianes, decisiorls are a150 made oul of romtnittEe underth¢ term50fthekntitlè Reuultment and appolntmentof ntwtrurttes TheTru5tse5atm torerruilnew mernbeT51rotn both Regimentol ?Thd uv￿10￿ batkeroun(fs in ordertoeDsurelhattheCharity ha5 3 balance and dwer5￿V of ski115 and kDowkdge. To this end. the GSC wiews criteria, SWII sets and ¢aThdidatE5. New Trustees arèÈncouraged tofamiliarisethemsel¥es &*ryth (￿rItycOMmI$slon gvidantt retatingtothewrole and 4n inducrion pad¢ is issue(L External training couue58re 415LI M?d¢EVailab￿. Relared Parties ThÈrÈ hgve been no materlal transactions *rythother chèritiesconnertedwith The PafachukReOrnent¥ndAirbome Forces Its the aecoundng perkd. oth¥trrfnthrse disdosed inthe financBI 5tHternwrt5. Manègement The Senvjr hAanastmentTeam c¢nsiSiS of the th￿f Exeartwe, reportlng to the thtirmtn and Board,the Finance Oire¢tor. the HÈ2d of Fundraising & Communica￿0￿5 and the Head of Welfare. A Charity Management Plan ICMPI gpproved and re8uiarty reviewed by the Board 411 Lyerating pdicrs and protedures as gUIdan￿ fortrllstee5. fflanagement and st2ff. OBJEcfivESAND AcrNmES Obi¥tiTrK5 and Aims The abjects of the C￿rItY, as Sts￿ in itsArticle5, are to further the felowins thèriiable purposes by such means ¥5 the Trustees shall from tim2totirne thinkfit: the prorn0t￿n Ind malntenance of the heritdge ofThe Parachute Regiment and Airborne Forces.. the prtsrTh)tion ofthe efficiency oFThe Par¥Ch￿te Regirnent- the rEl*f of need. haidship and di4tr8$5 ?mon8st past and wesent mpmbersofTho parathLrte Regiment and Airborne Forcesand theirdependants. Re5trl¢ted Funds Afghan Restrl£ted Fund IARFI Aftercomb3tQPEr*ionsin Afghanistan ceasedatthe end Df 2014. the Trustees ofthethen ppca6reed t01akeon the funds and obligatlon5 of former tharfjrylh2 Par3thutE ReEirnenr Af¥hanistan Trusr IPRAn as of 31 1)eEembeT 2014. with the f¥ll app￿Val ol the Chatity Commission. The fonrer Trust'5 lunds 3TE held in • restricted lund odministrated by the Trustees agalktst*he 0ri8inal and amended oblett5. ès defined by itsTTusi Deed, namely. -The rellEf ot need forsoldlers ofThe Parachute Regirnent iryured In Afghanistan. -The relief ot need Iorfamiliesand dependantsof thé soldiers klupd or injured In AfEh3nirtan. -To promote and sustJin th¢ memoriestsf the105s of life and sacr5f1￿ made bythe ReElm?nVs sddiers In Afghantstan. - To prornate mllitary effIc￿nty through 3dveAtwe trainlnE and welfare actmti￿ frjr those who seNed or are about t Serve inAf8hanlstan. e2 THE PARACHufE REGSMENT ANDAIRBORNE FORCES CFIARITV REPORTOFTHETRUStEE5 FOR THE YEAR ENDED 31 DECEMBER 2023 OBJEcnvE5 AND ACTMTE5 Icontl Bkftsretr•nsf¢rrirt8thwrfunds int¢ th* PRC.th* PRATTrust¢ts ameAdÈd these oblectstc*extendihe pprlod Df coveTrge to 3pp]¥ frorn IJ Sep 1001 On￿7rd5 and to broadpn the scope Of èppl¢¢ability to indude personnel served on the other post-9111 confllcts and Operatiuns in wh￿h the Regim&ntha5 been involved 8swdl asAfghani5taD, notsbly Ir4q IgpTEUQ. AtrbomeAs5auIt Narrn3ndyTru5t IAAND of l January 2016. the Trustees of the then PRC a￿Te￿ lo take on the funds and obliEations of the Former ￿rborne Assault NovrnandyTrusL maintairiing due recognition and remembrarKe of the British Airbtyrne role and personn¢l during the libetatiDn ol Frantt in the Second Warld War. which w25d￿5DlVed and whose retnainitbg fvnds form a resthcted fund. Trustee5 oversight of centinued rÉlationshuJs and dr4108ue withthEcivic8uthoritie5 in Normandy. The B?nevol¢ncE and Well3re Fund is a Te5ViCted fund that receive5 an eletnent of the voluntary One Dav5 Pay Scheme IODPSI £oTrtributions from sÉyvinE soldiers. whith 4r¢ re5trirttd bv miiifdry Ststute. A number of other RestriCEed Fund5 ha￿ been established as a result of fUndra￿IngcIrnp1IV$or leqaue5. The Francis Fund, established a5 3 Te5uIt of a leeaLy. is i r2stridEd fLind that ts applicable foT the welfare as￿St￿O of disablèd vÈtÉrdns and ￿dOwS. Publlc Benefit TheTw5tees h3ve Corn￿[ed wlth theirdutywDdersectioTr4111 of the Charitie5Art 2011 ￿th re￿rd to C￿rItycOMm[ss70n guidante on public benefitwhery reviewin¢theiroblectfves8nd aims. intheirfvtur¢ planniThg gnd ine5tablishingtheirgrant- akir4 poliaes. Each of the abDve-mtntioned ttbjetts ofthecharlty demonstr8re publlc b?n*fft_. - The r2lief Df need, hardship distrèss for seTVill8 ar fo￿￿er suldlers of The Pa￿th￿te Regiment and Airborne For￿, and theirdepEndants. isfunded thiough Charitab￿ fund5where public funds are insufficient or unavaikblè - The prombon of the e￿lenCY of The Parathute Resiyfflent ￿51ststhe tnaintenènce of morale 4nd ptrforman￿ within a unique regiment of the Brltish Army whlch providE5 key wational outputs at Defence and National level. - The promotlon and maintenance ofthe heritège of The Parat￿le Reglment and Attbome Forces assists thÈ educati¢ft both of swing member5 of ￿rborne Fortes andiheÉenetsl pubbc in respectof PaSt￿rnflICtS and the e55entièl role¢f the Armed Forcès. as well as remembrante ol those who have served thÈir country. The Airborne Assault Museum provid¢s 51gnific3ntpub￿C benefitas an Educatio[￿1 resource fo¥lhe publicand seNlng personnel of the Armed Fgrces. Grat)knaklng The fharily makES graNtS to rnvet the wElfarE Treed fLr indWltha15 in nEed or distress, reouirin8 h¢u5ehold or mobifity a55$Stan￿ for di5abiliÉies. 2s a result OF age. wounding or injury.. for those dowwaded and d￿charged personnel tr3nsitiontn¥ to civilian employmefft,. for need, h3rd5hip and finartcial ￿￿tresS both ftsr Individtsals and their dependanrs. with parbcuiaTernphasis on the mit1￿￿on01 rfsk5of homeles5ne55and detrimenttc vulTherable depend3nt5. The effaets of service and in parkncularactN&operationson mental hèalth 3nd fam11 y rÈlatlDn5hlpsaTealso mamifestandtherapy ￿fLInded to 8vo*J tsMtrophicd@teTioration. Indmdual welfare benevoknce applications are assessed against èligibilty crlteria under the objects by the Welfare Team. Applicètlons are recelved thrgibility triteri8, then identrfiE5 thc most •pproprlate fvnd Irestrictedjdesign3tedlunre51r￿ted> for the ease need and ilso seeks tD identify where ¥ppropriate land ff newaryl additional 50urce5 of thèrttzble fundlng outsidÈ thè Charity might be identified and ¢oordinzted with. The Welfare Team furtherrnonitor5 theoutcome ofthe casegrant and any continuing need for5UPPOrt. Where 3 £as¢ r5 unusual. contentio or eKceed5 certaift threshold leve15, Teferen¢e 15 made ffrstto tht welfare ond Benevolence Committee IW8CI and then. if deÈmtd notessarythe fijll 6oard. Paze3 ThE PARACHLrrE REGIMENT ANDAIRBORNE FORCE5 CPIARITY REPORTOFTHE TRUSTEES FOR THE YEAR ENPED31 DECEMBER 2023 OBJECTIVES AND A￿1v￿Es Icontl When pèrètroopers are medKalty theWelfareTeaTh has a SUC￿5$fultTadC record offundin8 trade t￿]NIng and requ31ification Cours￿ asthe¥prep4refortheirnewtareers andthÈnassistyngwthobtaininÈthemthetoa15andequipment thattheywill need in theirrh05entrade. In 2023the5e Jrtfvitieswer2agèin paTdyfUndedbythed2Si￿a￿d￿tEleys￿pp0rt Fund, although th￿ Will be for the last time. This re5ettlernent actEvty 311 happerts under thè tuspices of our now well- tabfLghed CaTeerTronsition Officer, whp ￿ J mentorand ad￿orfOraI1our Rwentsl seTrvitr leavers, helpin8their irtitial transition into a sutnt) Reglmental Efficiency As the overall pressure on lovernment defente spending contsn¥es. tharity fundiJTg to the serv￿nE Regiment hdps to encourage the recnJ5tment ¢Dntinued servits of our p¢rsonnel ahdto support their indivmlual tsreer progression. thus ery5uringthatwe maintain retain thevery best leadersto look afterour peerless soldier5. Both units attd l￿d￿ldUaL* are supported with funding to enable AdvEnturou5 Training a￿d sports endeavours-, chara¢ter-buil(%ng activities which foster importart profe55iunal quarthes such as 5nitiatNe, comradethip and mofw8tlon. These experiEnce5 a￿0 tontribwte IMrneasUrdb￿ to irnprowng overall quality of frfp for the RegirrEnVs spldiers and m31ntalnin8 their work fife bal4nG¥. In maThyc3ses. 5ervingper50nTrElalso u5ethe5ecppctrtun1l￿5to promoteand rvisefundsforthe tharr¢y.genèratinga vimjous fundin8 tsrde of mut￿1 reputstiDnal and fmanciHI benefit. The Regiment's te¥rn5 5ddieFS also routine￿ compete at the top level Df Army and Inter-servict sport. In 2023. The Regiment mairtained pre-eminence in several keysp)rtl￿f1eldS, retainingtheirtiiles a5 Arry Dowt)hill Skiing ChaTnpions, Arniy BOM8 Champions plus bothArmy and Combined Serwce5 Bobsleigh Champions. One Regimental 501ditr, gtspported by the Charity ￿a the Army'5 4fite sptrrtlng proÈramme, was suix£%sfully sdecied for Tearn GB'S development bobsleish souad,with whom he hès new stsccessfully embarked on hisfirst competitive Season. Tr1erit￿ & Commèmoratio v￿7￿0[(DOlts11 totheAALA￿bOrneA5s3vlt Mu5eum'5 premi5e5 Withirt IWM Duxford Vdere again veryheathythi5ye2r, wth 5its by organtsed groups frorn the Regimetrt's units, associations, èffiliated cadet contingents and wider supportErs being key irb th￿ respect. The Museum's outrEEch proRrèmme has agairt allled Ireguently wth PPAFC at è wide rnnEe of Regimental and Ch3rity events. The Charity aLso supports Remembrance ihrou8h tho M81•ten3n￿ ot Inemorials. prirnarily gt the N3tional Mtynorial Arboretwn INMAI, where3n 3fsnual summerscmce ss held. ènd with a Se¥vice Df Remembra￿￿¥1 St LawrènceJEwry, the Regimental thurth in the City ol London, In Novembèr. RO￿lne rep3trs to our memorial at thich the Ch8rTty oums. were 3150 funded by u5 thIs￿ar. These are aL%e keyteuch•oiDts fDrourtsngoin8 SUPPOrt Next of Kin IMOK) 8Bd Èrnlies. SuppDrt 15 a150 provided for Regirnental (D[T￿eMOratoThS overseas ill France and the Netherlènds. with grant5 for our rem8inin8VÈterznsofth*ecampaignsttkmake the pil8rima8etotheb*tle8round50n whichtheyfoughtso hngaEO.The5e fl82shlpcommemorètpie athwtie£fortheRegimentand ltswldercommunity4reabo key Inenharttirt8 tts publlcreputation. Asslstingin the careand mainte•an¢E of ourtwo Regimental mE5cots. Pe￿%￿S and 8runevalth&SheVand PoThies. is anoth£r import3ntA5pectof the Chariv5￿dersupP0rt1Thg H&C work. The Ch¥ityalso fosters Ilnk5 bEtween the serving ReE¢ment 8ndt￿ew￿er re￿red communitythrtyJ81 the pubFicatian ofthe annual Pe6asusJournal. FINANCIAL REWEW Performamté-GYoup TheGroup'5 lThcoJnein 2023 was £1.504m, lup from£L44miD2U2zI.2023*w adeuEasei• ￿L￿￿￿￿sfr9rn £302kto£218k but thts was largely offset by tharit*fe events. particularly the Utrinque Paratw lunth heid in Junt Legaty Income ￿$0 increèsed year cn year froTn E66k to t124k in 1023 l￿￿trnent income i1￿8$ed to £379k in 20231£331k in 20221 by adoptinga rnore proa£tNeapproachto ourope￿tIonol cash management. Within Ihe o¥efa116roup 1￿Come figure is£329k ol sales revenue by Ihe subsld*ry ABP Retail Ltd *￿inSt whkh are set £301k of costs. Subsidi8ry PARAS'IO timlted accounted for a fvrther ￿sk incom¢ offset by £25k costs. Dorated servires of £42k repiEsent the provision vf ernployee seNltÈs to the Eroup by the Mo0= Qk re￿Ived bythÈ Partnt C1*ar￿Y and £40¥ r￿e1Ved by AAL Expe*diwrÈ Ir*rthp year I￿reased to £1.61m eompared to£L.46m in 2022. The Groups d￿fiCit Inet expenditure) for the y¢ar was £105k 12022: £23kl. increased to a surplus Df £894k after nreallsed Frkve5trnent gzlns of £999k 12022-. defic￿ of £1.4(6m after unxe81fr5ed in¥estrnent losses of £1383rn1. At 31 r￿￿Mber201a the Group carried fOr￿rdtO￿I ftsnds of£l4k8m I2022= £13.9ml. pages E PARACHUTE REGIMENT AND AIttBORNE FORCES CHARITY REPORT OFTHETRUSTEES FOR ThE YEAR ENDED 31 DECEMYER 2023 FINANQALREVIEW Icontl The Parent CharitySOFA and b314n￿ sheet Ire Pr95¢nt￿ on p48E5 IS 4nd 16 ¥espÈttNety whith teportthe performance of the Parent 1ndivsdual￿. these f¢urLTform partofthe GrDUP rEsuIts nuted abovE. Fthanwal Pertormante-subsidlar￿3 ATrbome Assault timlted m3de a deficlt of £64t 12022-. £49kl. lrt£ome rema￿ed level with 2022. Ovtrtll expeThditsJre increased by£lSk. ABP Retail Limited IABPI rnad¢ • EontriTruEivn from r¢tsil m¢rch4Ddi5e5alES of £28k IZ022- £34kl patd undÈr Gift￿￿ to it% tharftable P3renL Turnoverlell by £IOkand c￿1 ofsaleslncre3sed by£SkyearoA ye3r. PABAS'IO timited madea contriburlon to its parentunder Gfft Ald of £30k12022.. £13kl. Th￿ In￿¢￿e oecurred desplte the ancèllatttin oftha Colthe5ter Bvent in 2023. pl￿£1PaI Furding5Qy￿es 4 well as iThvestment incorne. the (harity has diverse voluntsry inEorne strparns= the Ofte Davs Pay 5chem2 IODPSI for 5erviR8 mernb2rs of the Re¥irnenL grants and donations by privateindividuals.charitèble bodies fIr￿U(lnE brnnthes of thè Parathute Reg5m*)tsl Assocmionl. trusts. f(NJnd*￿Ort5 and Corporatio￿,. legacies.. and funds raised from 2etNities ané events orEanised byihirdprty supportèriorbythe itself. Ftsndrnisiy Corttro All fundraislng lor voluntrdry do#ati¢ns is fflanaged by a tell Of two employees wr(hin the Ch3rity. induding the CEO. and rEliÈs he3Yity on personal Init18t￿*S bysupporters within the servlng 8n(I retired ¢ommufiity. Js wew asthe Eeneral public. The Charity Organ￿e$ 3 number of 6t$ own fundraislng events or sUPPOrt5 third-party evert or83nisers. No PTgfe5sional fundraising organisat¢on. agencyorcDmmErual partiaFtorhas been orwjill be employed. •5 0 mats¢raf ¥Jrrent poltcv. The Charity (s tewstered with the Fundralsing Regulator and wnforms to it5 Code of Standard5. It with 8uldellnes publlshed by the Charlty Commlsslon and the Institute of Furkdraisin& The Charity morjitors fundrai51ng on its behalf by attendance at events, or ￿ere public collettsons are beijg by identity¢hecks on collector5, i￿ul￿g dear guidelines on prathtes and instru￿10n$ fur ￿￿￿tting fvnds, and issuing lett¥s and badEes of identiftcatorb Yitth contact details for the chaTIty- Records are maintained for all collector¥ indudlw all fttndraising in¢ rnaterki15 issued and remittances are monitored. A Cornp13ints Poliry ￿rEed by Trusts￿ is publÉshed and p¥blirly a¢wibie on the Charity website. No comp￿I￿tswe￿t reteywed ift 2023. The Chartty is also re8ssteTeJ wrth the Informatton Comrnis￿tsnerS Office IICOI Ind confarms with the Oatr Protection Art 1998 ènd the Gener¥1 D8ts Protethon Reguktknns IGDPRI 2018. THE PARACHUTE REGIMENT AND MR8ORNE FORCES CHARITY REPORTOFTHETRUSTEES FOR THEYEAR ENDEC*31 DECEMBER ZO23 FINANCIALREVIEW Icantl Invtsknent and Risk Pvfity All investments fvnd5 have been enttusted to 8 sinde manoB¥. CCLA IChurche5. Charitie5 and Local Authoritiesl 5nvestment Management ￿mIted. The investment portftyli¢> is managed to m*ntsin and growthetn￿vaIue of the tnvesttnents and8eneTrte irmmewhich 15 alletated to the re5tFkted er vnre5trirted fvnd5 ?crurdiDg to source. This str8tew does lead to greater yEar on year volatillty In fund values.which 15 réfl&tÈd in the actounrs. but should ￿nErate a mo￿fa￿rablt rerum tr4erthe ￿ng rvn. Periodit *5e5sments èrÈ made by the FIC as to the availabl1￿1 ol cash Irom op¢ratin8 èttiTrJities fr>r *Èrther long-term investment. ftotingthat resthrted and d*iqnated funds all need liqyidityto meetdemand in their respErtivp are?% Inve5tfflent Performan Followmgthe slgnificallt market dècline in 20221£1.383ml, thevalue of the charit1$ (nvestrnents made a pirtixl reeovery during lo￿ of £993k The Charty received investment income of £379k12022.. £331kl. Atthe end of 2023, thetotal wd5ue ofthe investmentsheld by the charity5toodatE13.004rn12022.. £10.519ml.This Induded a tran5fprDI(ash gf El.45m w h higher intÈrÈxt éamirtgdépositatCOLmt he￿ byCCL Reserwes Polk¥ The Charity i% ummitted to m3intzinirv¥ a lèvel of resérves SU￿1¢1¢￿1 to meer on8oiDg ￿￿bIlItieS. irtcluding obkgations to beneficizries, to ThAintain semce delfvery and to wotect thE IDnÈ-term future of r(5 operations in tw fatr of ￿n￿rtai￿rieS and fluctU3tlDll5 iothE ¥aluntary fUndra￿Ing environmEnL As at 31 Detern￿r 2Q23, thè PRAFC Group's totsl resep￿S werÈ U4.8m12022= £13Sml. of whKh E4.gim s restrtrted ur designated forspecific thariiable purposes. ènd £9.86m unrestritted for meetingthe objects astheT¥u5tees stefiL It bthe ¥iewoftheTrusteesthètthe r&￿￿e$hekI are reasoftèbleand requiredtosupportthecngoin8 and I￿g-terMwelfare necds of our benefknarles, as well asfund5ng of T¢&mental Efflcieftty. héritaaeand comrnemorati¥2 actÉvlty. FUWRE PLANS The Charilw now look5 to rontinue to cors5dldate Its po¥itioD post-COWD and to prOFe[￿ maxiTntse the benefits lo the bU￿￿e$S and tts our beneficiaries the 3dditlOAal sta￿lity, resÈlience, stsff and ope￿till￿al horsepower provided by its new organisatiDnal structure over the last year has unlocked and enabled. The Charity ￿11 look ro eodlfy thi% consolidation in 2024 within a renew* 5 Year Strete8y whlch wlll be geDer3ted dufins this up￿0￿1￿8 year for implernentation in the period 2025-30. In the nearerttrm.withln 2023 ltself.there Is rnwth In train forthè th2rItytoget￿¢rted 3ix)ut andto lookfopN3rd ts- In th¢ Rewma)tsl Efficlenry sphere. the Charity has fijnded the partic￿tknn of a sm21 gr0￿p of *rving paratroopers its the prestieious Darwin 2DO project for thE Expedf(ion'5 Falkland 1513nds let. Èady it) 2024. After that. in Apro 2024. we 5￿41 be trac•wthe PTogre5s of the Arm($ 2024 Everest ExpediUDlI ès three of the six lead cliThtier5 on are 52Fving paratroepers and the Charity has supported their partl¢tpatyon in thi5 very serious undertakin& In Heritage and Commemtrrat￿rt terms. 2024 will SEe the annivers8r*s of ￿0a¥ ind Amhem. espeaolty potsnt bec3USè thss will bo the last swifieant 8nniversary of ih05e mcrnents￿ ￿rbllrDe battles gt V4ht¢h our veterans will be abre to n￿ke ih4sg pilgrlrnaEes in person. We ?Iw remember the 2S annlvers?ry of the RegimenV5 malorcontTlbution to the Kasavts I￿erve￿￿on by NATO in 1999. Forwèlfare, 2024will betheyear in whlch the Beacoas Inrtlative ts expandedtofulloperdtional (apability. both in terms o*geD8raphical coverage and In ccverin8thE TJere558ry rangeof er￿. un¢ts, t(￿flIcts and rank-ran8E WTthin our cohort of PEer￿entOr$. In addition, our ￿0 will commen¢è a limited 'reachback' service For ad¥￿e and a55iStaD¢eto ￿￿entlY retired v*ernns withemployment¢55ves, whi15tatsoeDl$4ngthoir hdpto as&st the retirees of today in finding rneaningtul second careers. We will also start to attempt to define quantfy our eligible bevthary bjse 35 Part of aA attempt ro forecast future welfore ￿e￿,. thi5 wll be a tim2 Bnd labovr-iTrten5we und2rtaking but notan e¥pen*veone. aThd we f*1 it will be well worth theeffort in ter￿5 of fon¥ard pJannin& Ke7 ThE PARACHUTE ftefjiMENT AND AIRBORNE FORCES CHARrrY REPORTOFTHETRUSTEES FOR7HE YEAR ENDED 31 DECEMBER 2023 REFERENCEAND ADMINISTrATIVE ￿All5 Rogistered Company nurnber 07005997 IEnÉl8nd and Walesl Regi#ered alarity number 11319?7 RÈ8iStèred offitè RHQThe Parachute RewTnent Merville B•racks Circylar Road South Cdthe5ter C02 7UT Triiste•S MYÉ Cottrell Lt Col LPB Cradden MBE MrCJ W DaThieJ5 MrMJDFGra¥ ItGen Harrison MBE Col IRetdl J D Handford OBE ItGen (Retdl tP tilwwhite CB M8E ItGÉTh IRÈtdl &rJohTh Lorimer K(I DSO MBe Brvd3dier (Retdl M P Lowe MBE MrRJEMoore AVM R T l Munro CBE TD Lt Gen (Retdl JD Pa8e CB OBE Col IRetd)JC PowerQVRMTO Mrs PF WOrs￿¥T¢nks -apptyinted 04.05.23 -resi8n•d 16.11.21 Indepettdwtau(4toYs BriEht Brown Limf(ed Ch3rtPTpd Atcountants Statutory Audltor £Ychange House SL Cross Lane Newport 151e of WiEht P030 SBZ SoN¢lknrs How4rd KennedytLP l Lond￿ brldgg London SEI 9BG ThE PARACNUTE REGIMENT AND AIRBORNE FORCESCHAIIITY REPORT OFTTrIETRVSTEes FOR THEY£AR ENDgD 31 OECEMBÉft 2023 EVENTSSINCETHE ENO OF THEYEAR Information rdatingto evénts sifitt the end of theyeor i5given in the not¥tothe fina*ttal stat*nents. STATEMENfoF TrUSTEES RESPONSIBILrriES The trustees (who are also thE dirertor5 of The Pgrathute Regiment Chwity tor the purposes of c(mpany law} are respon￿ble for prep30rygtke Report of the Trustees and the *nancial statements Èn 4ccordance wirh 8pplitable t8w and United fir*dom AccLwf*ting Standards Iunited fingdorn Genera1tyAc￿pted AccouTrtinÈ ?r8tti¢el. Cornp4ny13w requtresthe trustee5to ple￿re finaThual ststementsforeach fiThan¢k3lye3Twhith give atrueand faiiwiew of the stèts of affairs of the charitsble company ?nd of the iTrcorrung resources and appli(atTon ¢1 r¥ources, Including the Income expendittJre, of the charitable eompany for that period. In preparill8 those financial statements, the trtsstees aro iequiT¢d t selettsuTtsb￿ ècceuntifig polidÈs and thÈrt applythem cortsTstontly. observe the methods aod principles in the CltstttySORP- make judgernent5 and est1ffl3tes thatare re250nable and prudeftt- Pfeparethefinancial st*Ements on the8oingwn¢em bas15 unlessit ￿ inapprup¥vateto presymethatthe thzritatEle £ompanywill continue bu5ines5. The Tru5teo5 are rESpOn51b￿ for kEeFiDg proper accr4j￿D8 records whlEh dlsrlgS• With r*isonable acturdcy at any time the ti￿n(la1 position of the Charitab￿ conipany and to enable them to en5uie that the finantial statements compty with the Compènies Acr 2006. They #re a150 respons￿1¢ ft)r safeÉuètding the assets of the charitsble company 4nd hence for takinÈ rèasonable step5 IuTthe preventiDll and detectionDf fraud and other Srregularitie In sofarasthetru5teesareaware'. there ￿ no relev£nt audit informaknon ofwhith thecharitab1ec0m￿nV'S 3uditors arÈ ufiaw2re- and the trustees PAve tsken all steps that they ought to have taken to themsetvÉs aware of any relevart information andto e5tsblish thatthe 3uditor5 are?ware of thwt infDrm¥tton. ved by order o he board eftrustees on 25 Juty2Q23 and si8rsed on Irs bÈhaff by= en Irjohn LoTime KC8 DSO M8E-Trustee Py9 REPORT OF THE INDEPENDENT￿DITORSTo ThE MEMFER5 OF TfrIE PNJIACHUTE REGIMENfAND ￿RBORNE FORC￿ CFIARITY Opinio# We have audltsd th• financlJlstatftments of The Parachute Reglment arsd Alrborne force5 ChaTlty l¢he'wor¢ntcharIts￿ a)mp3nyll and Its 5utsldiories lthe 'group'l for the ye3r endÈd 31 December2023 which comprise the Ststement ef FINan￿alACtiV1bÉ$,the6a￿neÉ Shee¢theCash FIDwStatementandnot*tsthefinancialstatements,indudinga svrnmary Of￿￿ficant a¢￿￿n￿ng PDlI￿eS.Th2fi.nancl￿l rEpDrbngfrarnewoTktI￿th￿s been£ppliediThthelr preparation Is appliraNe law and Unlted KlngdNn Accwnvng Standards Iunlted KlnEdom Generalty A￿pted Attountlng Practttel, IntltsdiThg Financtal REpartin8 Stand3rd 102 trhe financial Reporring5t3ndard applillable in the UK Repubfic of Irelaftd.. In0urop￿loTr thefinantial ststement>- 8ive ? true ènd foirmew oflhe 51*e oFthe grourfs and ¢h?rltable companvsaffalrs as at31 pe￿mber 2023 and of its incoming resouro5and application of re50urce5. including its itscomeand expenditure, fortheyear then ended., bccn properly prepèred in accardanry with United Kingdom Generally Actrpted Arwunting Practiw intluding rinèneial Reporhng StsndarLI 102'The Finènctal Repothng5tsndard ?pplic¥ble in the VK and Republi£ of Irdand';and have been prepared ID accordantewith the requlrementsofthe Comp3nies Att 2(Hl6. BasL%fa¥ •pirAon W¢ wnduaed our in a¢cordanc4 wlth InternaDonal Stsnd*rds on Audilfnz ILSKI ILW IUKII and appllcable law. Our résponsibilitfes ttnderthese standards ale further described in the Audirors. responsibilthe5 forthe 8udir of the financial statements sectrot) of ￿port We are independent of the group in accordance with the ethical requirements thatar2 relevani to our audit of the fin?rtts81 kt8ttment$ in the UL the FRCS Ethical Standard. and we have fulfilled our other ethical respon*bilitiesin aeeordantÈwdEhthesÈ rÈqu1reme￿ts. We bdievethattheaudit evidente we have obtained Issufficient and èpprtspriateto prmde a bass for our opinion. conelusions relatinÈto8cinttohcem In 4udiJng the financfrdl ststements. we have concltsdedthatthetrustee5' Use of the 8Din¥eoncern ba515 01 accowtirs8 in the prepar•tt(th of the ffnaooa5 statements is apyt¢pr5ate. Based on the work we h4ve perforrngd. we not ident)￿ed ariy material un￿rtain*p$ rÈlatfjng to events or condthon5 thal indivlf*Jally or collectively. may tast signiftcantdoubt on the group's Dr Charkab￿ company's abllltyto continue as 80iti8eoneem for a period of atle8Sttwehe monthsfrom whenthe finonualstatementsareauthorised for issue. Our T￿pOnsibIlI￿@S and thé rwonslbililftrs of the vAth respett to 8olng CO￿￿rn are described in the relevant se£tion5 of this reporL Othqrinformatio The trustees are ￿ponsIble faTthÈ tsther infr>rtnBtTtin. The other informètion CDrnprise5 tho information ineluded in ihe Ann￿1 Repoffj otherthan the finincial ststernentS 3nd our RepDrt of the IndependentAuditorstherEOn. Ourapinion oftthefrnanoalst3tementsdoes notcoverthe otherlnfofmation8nd. txcepttothe extentothenthse explicitlv Stated in our report, we do not expre55 afty form of3ssurancÉ cDrtdusion the￿on. In ronnectitin wth ourÉudit ofthe financlal siatements. Dur r2yFx)ns￿l￿ is the other Information Hnd. in doing , consider whether the other TnfDrm*on is m*erially 1rKon5￿eDt wli h the financlal statenlents or our knowledge obroined in Ihe 8LTdit or Other￿ls& appears to be matsrially misst3ted. If we Identlfy suth Trwterial ineonsi5tencle5 or ppaient rttèterial m￿￿￿eMents, we Ire reQu￿red to determine whether thi5 gives rise to a material mi%statement in the lsnaftclal statements themsefves. If, based on the wvk we have performed. w? conclude that there Is a material M￿￿tEment0f this other information. we are reoulred 10 reportth3¢tscr. We have nothing to reporr In this regard. Opin*orE5 On othermatters pre5crW bytke CompJnie5Aciio06 In opinivn. based an the work undertakEf2 in theCourseolth￿*Urfrt= the informaiion gNtn inthe RepOrt¢ftheTrustees￿tbefinan[I3lYearfGrwh￿th2financlalStsterne￿ts8re prepared i5CmS5tEntwith the finantial st8terneftts.' and the Reportofihe Trustees has been prepar¢d In a¢cgrdancewlth èpplkaty￿ legal requir2ments. REPOftTOFTHE INDEPENDÉNfAUDITorisfoTHE MEMBERS OF THE PARACHUTE REGIMEMfANDAIRBOANE FORCESCHARir Matters whithwe èrÈ required to repart by exception In the li8hrof the knDwledge3Ad undEr5kndins of the8fowi parenttharitable company. itsenwronmentobtalned in the courseof the audir, we have notidentFlied materlaj mI55￿ternents iThthe Report of the Trustees. We have nothiDE to repDrt in respectofthe frJOowing m*f*rswhere the CompaNiÈsACt 2006 r¢qukTes usto rtyortto you I , in ouropirMort= adequate accountitkg record5 have not been kept or returns adeqTtate for our audit not L*8n re￿$Ve￿ from bTrnthes ftotVy51ted by us- or the finanrial ststempntsare not in agreementwth the acrountittg records and returns.. or £eFLain di5¢1osures oltrustees, remuneration spttrflÈd by law are not ￿ade.. or we hwe not rewved all the Infom)ation and explanations we re4uirÈ forour audsL' or thetru4tee$wÉre not entitled w ta*eadvantsgeofthesmllcomp3Aies exemptionfromthe requirementtoprepare 4 St￿te8￿C Rewrt orin preparingthe Report of thÈTrustees. Responslbiinses of trust As exp13Éned Tnore fullyin the5taiementof Trustees, Responsibilra¢s. thttrustees (who 8r2 alsothe dFTertttrs Dfthegrovp and pÈreDt charitsble cornpany fur the purptTr5es of company lawl are resPOn5ible for the preparation of the linanual stèternent52ndfor bEIng￿ti%fiedthatthey8IVÈ ètrue8ndfairvigw.andfor Such an￿nal controlasthetrusteesdetermine 15 neces5aryttr eT*ble the PTep3rotion of finan(i31 statements that are free frDm m3terial misstètemLYr wh*her duèto frèud or error. In preparjng the fin4nual statements, the trustee5 are respon5Th1 It for esswing the group's and parent chèrit¥ble company's amity ttl CDntrnue as ago1￿ concer1￿ di5closin& is applicable. matters ￿lated to going coniem and USH)$ the 80inÈ con￿rn b8515 Df actDuntiDg unle55thetruaees either intend to liquidatethe group or parentchiritsble companyor to cease ¢perations. tsrhave no realirtt8ltern*rfvebui t4 do so. Our r¢sponsibintiesforthe audit of thelfnanclal 5tatefflents Ourobjec￿eS3TetC obtsinreasonab1eassurAn￿abDutW￿etherIbefl￿3n￿alst3teMe￿rt$a5¥Wl￿￿e4￿fr*efTQrn material rn1SStaternent, whether (￿et0 fraud orerror, 8nd to Issve a Report ofthe InYJepeTtdentAuditOTS that includes ouropinion. RwonablÈ assurance is 6 h￿h level of assurance, but is not a guaranteet￿t ?n audit Evn￿u¢ted in 3ccord8ntt Kffjth 15 (UK) will alw&ys detert a Material m(statement when it hnisststements can ¥ise from fravd or èrror and are nstdered matÉri21 rf. indiv¥Jually or In th¢ 88grerdte. they could rea59na￿V be e¥pectsd to Influertcè ttle economsc decisTonsgf wr5tsken thE ofthe5elinanclal ststement5. Irr￿ul￿rities. including ft2ud. are instènce5 of nOn<0m￿lanCe with law5 and rebwktlODS. We deslen prllcÈdures In IINÈ with our resronsibilrfties. gutlined abov< to detect materf•l M￿StateMentS in r&sp￿t of irregulèrities. indudin£frattd. The ext4nl towklth our procedure$ Hre capable of deieetinl Irre8ularitses. Includingfraud 15 detsiled be￿￿. Based on tsur undErstanding of the youp znd tharttsblE comp3nyp the prfnU￿l risks are that of wnanagemert override Df controls. and potent[31 ￿Urt in revenue reco8Trlrign. The en￿Berne￿[[earn carts￿ered these T15ks 3nd audlt procedures were undertaken as foltows.. rAscUs￿onS wkh mana8ement regardlnEthe abllityta override controls and r￿eW of proces%ws fft pla￿t0 cDnfiim no ove¥ride had occurred. Extension of sampte 5i1Ès rektifftgto revenue recoBDItion. Discus4onswith rnanagen*nt regardin8including cDnsideratlon of any known orsJspected in5tart￿ of hon- compliante with law￿ and regulations orlraud. Revlew of managemert joumals, a reviewof4rcountinE estirnates rn¥de by Manage[r￿￿twhere applicaWe. Review to ensure that there arÉ rtatran53Ctnnsthat have rLoapparent bvsinoss or charitsble purpose, orthathave been proce55ed outside the usual accounting sy51tffts. There3reinherentllrnlr¥kn intheaudtt prDceduTe5de5tfibed èboKdndthefurther rtmo¥od nDn-CDmpliancEwlth laws ènd regulatiQD515frDtn eveTrt5 and1￿n￿CtIonS reflected in thÈftnancial statements.thele55fikeF¥ we*retobeL£+me aware of it. The risk Df not detectin8 a material msst¥temeTht due io fraud ￿ h￿h£rI￿all the tsk tsf not detecifng one resulifnE Ir4rn error, asfraud rnay involveiteliberats wnce8lmenterlntenTknnal mlsrepTesentotion& REPORT OFTHÉ INDEPENDENT AUDrroRSTOTHE MEMbERS OF TNE PARACHUTE REGIiVIENT ANDAIRBORNE FORCES CHAiurY A fuftherdescription of our responsibifrries forthe ludit of the financ*1 statements is located on the Finanthal Rtpordng Council's webslte atwww.frLor8.uklaudttorsresponsltllffjes. Thls dÈscript"on form5 part uf our Report of the Indepeftdtnt Audstoy Use of our report 7his report is rTradeS￿ety totheqruup's and parentth8ritablecompany'5 m4mber5. 45¥ btsdyl in accord3nce with Chapter 3 of Part 16 of the Companies Act 2006. audit vjork has been undertaken so that we might State to the group'5 and parpnt tharitzble ccmp3Thy's rnembprs thése mattErs we are requ*ed io srat• to th£m in an avthttOfS' Teport and for no Dther puwpose. TDthe fullest extent permitted by law. wedo ￿t3rtèpt eirassume responybifity to anyone othÈr than the oup or parent thariiable campèny and the gTOUP'S and parEnt chaTitablE company'5 members 3$3 body• for our 3udit work, f rth￿ report orforthe opinion5we haveformed. Gavin KelWACAFCCAl5eniorStst¥toryAvditorl forznd on behalf of 8ri2ht BTDwn Umited Charte￿d AccDuntants St3fytoryAuditor Exchange Hgitrse 5£ Cross Lane Newport Isle of WiEht P030 5BZ THE PARACYLifE REGIMENT AJIDAIR80RNE FOACESCHAklTYfiASUPPORTOUR PARAS c￿lsoLIDATEDSTATemENTOF FINANCiALAcfiviTIES (INCORPORATI￿ AN INCOMEAND EXPENDITUREACCOUNn F￿R TrIE YEAR ENDED31DECEMSER 2013 2023 Total fufids 2022 Unie51rTftEd funds Restritted funds f￿ndS Not £iy) Éo £o)o £000 INCOMÉ FROM Ounatlons and leg%les Charitsble 3¢tNitiÈs InruFnE from tharitable acbwtie5 502 121 624 674 12 othertradingacti*ties ITNe$tmenti￿ome 487 320 489 3?9 429 331 59 Totsl Lais L442 EXPENDrrvRE ON Raigng funds Charftable aCt5¥l￿e$ Promoieand maintainthe lerfra8e ofThe PoFchyte RegimeAt Hnd AlrborThE Fortss Promotethe efficiencyofThe Pl￿(hUte Regiment3nd Airbome Force5 Relief of need, hardship and distressof pa5tand present merT)bers o¥The Patschure ftegimentand Aithrne Force5 and thetr d2pÈnd30ts 496 496 465 221 265 213 220 511 93 507 Totsl expenditiJTE L441 168 L465 NETOPfRATINfj INCOME 11251 20 Iiosi 1231 Netgaln5111osses1 on IDve5tmènts 825 174 11.3831 NET INCOMEIIEXPENDifuRE) 700 194 11.4061 Tran5ferbetY￿eth funds Netmovemertln 700 IL4061 RECONCILIAMON OF FUNDS TotalfuThds broughtforword 10.905 3,ODI 13306 15.312 TOTAL FUND5 CARRIED FORWA%0 11.605 8,195 14AOO 13?06 CONfiNui>J6 OPERATIONS JI irKoffle and expenditvre has aTi5enfrom wfttinuittt att￿ltieS. ThÉn0￿{Drm9Irturth￿ErInBnp￿I$I*V￿nts e13 7HE PARACHU7e AESIMÈNT AND AIRBORNE FORCES CHAPmlREGisfwD NUMBER: 070059971 CONSOLIOATeD 8ALANCESHEeT AT JI IJECEMBER2D23 Unrestricted Funds Rèstricted Fund5 2023 Totsl ftsrtds 2022 Total funds £000 £000 £000 SIX£DASSÉTS Intsneiblefixed assets Tangible a￿t$ Herit¥e assets Investmcnts 34 641 649 391 .004 695 391 10.519 16 17 3gl 10.934 2.070 11367 2.711 14.078 IL653 CURRENfA5S￿5 Stocks Debtc*s Cash atbankand In hand 72 97 175 72 132 63Z 78 19 35 457 L618 344 492 836 1384 CRETr￿0￿5 Amountsfvllln6 dyE wilhi Dn2year 20 lic61 NEfoJAReNY A55Éf5 238 722 3.259 TOTALASSETS LESS CURRENT LIABILMES 11,605 3.195 14.8 13.906 CREDITORS Amovnt5 faRlngdue aftèr more n one ye3Y 21 A55ET5 11,6D5 3.195 13.9C6 FUNDS Unrestritted funds Re5tiicted Funds 11.605 3.195 10.905 3.001 TOTAL FUMOS 14.800 13.906 ThesÈ finanaal st3t2ments have bteftprepared in aCCOTdance withth¢spEaal provI￿on5 of Part 15 of the Companies Att 2006 rektingto small tharlt3ble compa*ies. ststements reapprO￿d bythe Beard of Twstee5 on Z$Ju￿ 2024andwere*ned its behalf by. It Lorkner CB D50 MBE-Trwtee p4e THE PARACHWE REfjIME￿ AND￿RBORNe FORCESCHARITYTlAsuppo￿f0uRpA￿As PARENT STATtMENTOF PINANQALAcfwiES IINCORPORAllNG AN INCOM£AND EXPENDrruREACCOUt4TI FOR THEVEAR ENDE0310ECÉMBER Z023 2023 fotsl fund5 2022 Total funds Unrestrirted funds Restricted funds Note5 £000 £000 INCOME FROM Donations and kgdcies Charir¥ble #¢t￿l￿*S Incomefmm charkableactfvlt1È5 449 98 547 Othertradlng activities Investment inwmt 162 320 81 59 379 331 Yotsl income 936 164 Lioo I,oii fXPENDFfuREON Raisinglunds Cbaiitsbleartwitles Promore and m8intisn the heiitsEe of The Parachuts ReE4"ment and pirborne Forces Promote the efficierKyofThe Pèrxhute ReEwnent¥nd Alrborne Forces Refief of need, hardship and distress of past 3nd prÈsÈnt membÈrsolThe Parnthute Re8Thentand Airbtsrne Forcesand thdr dependants 170 170 116 142 142 132 213 230 511 93 604 S07 Yotsl expenditurE 1,036 1.136 OPERATING INCOME iiooi 1361 26 Netgainslllossesl on invesrmem 174 999 11.3B31 COMEnEXPENDIIiJR 963 113571 Tr•nsfer betsveèn fvnds 23 Net m)vementinft5nds 725 963 11,357) REcCMaL￿Tl0N OF FUNDS Totsltsk￿s broughtforward 10.693 2,250 11943 TOTALFUNDS CARRIÉDFORWARO 11,418 1,488 13P06 CONTif4UING QPEKAMONS l incomé Èrtd expendittsre has aAsgnfrom Therth5ro￿portPt1htRffimn￿￿IStrterntsl p￿2$ ThE PARACMUTE REGIMEMfAND AIRBORNE FORCESCHARfry (REGISTERED WUMBER: Q70059971 PARE14T 8ALANCE5HEET AT31 DECEMBER2023 Unrrtri F￿ndS Restricted Fund5 2023 Tatol funds 2022 Tthl furlds Nr*tes £OOD £000 £000 £ch)o Intèthgble fixed as$2ts Tanglbleassets Heritage assets Inve>tment5 14 Is 16 17 391 lQ.934 391 13,W4 391 10,519 2,070 IL338 1070 13,408 10,930 CURREPIT A55ETS Qebtors sh at bankand In hand 19 273 1451 3$ 391 907 1,323 346 228 426 2.230 CREDrroRS Amounts falllDgdue withén ¢neyear 20 18 iioii NETCURRENTNSSETS 141 418 559 2.129 TOYALA55Efs LESS¢URRENf UABILrriES IL479 2,488 Ix,967 13.059 CREDrroR5 Amounts frllins du¢iftermoreth4n ryLei zi 1611 11161 NEY ASSETS 11.418 1488 13,906 11943 FUNDS Unre51ri¢red funds Restrirted fund5 11.418 2.488 10.693 2,250 TOTALFUNOS 13.906 12,943 These financE31 ststements have been prepared In Trmth the special provisions of Part ￿ of the comp8niesACt2￿6 ￿13*￿8 tDsmall charitable companle5. The Nnanclèl ststements we approved bythe Board of Tr￿te¢S on 25 July20248￿ were st8Thed on its bEhaLFby.' LtGe OSO MBE-Tr￿tee Th¢n¢te$frmpArt4Fth￿tfmThth11IBle1￿ pale16 THE PARACHLrrE REGIMETr4T ANDAIRBOMNE FORCES tHARITY7/ASUPPORT OUR PARAS CONSOUDATED CASH FLOWSTATEklENT FOR THE YEAR ENOED31 DECEMBER 2023 2023 3022 Cash Itowsfrtym operatift%arti¥lllÈs: Cash gEneTatÈd Irc>m Operat￿n5 IZ4 19991 Net E8sh provlded * It4sed in) operat1￿Sell¥1t 124 13991 tash Ilowsfrom iAvestingatti¥ffED 31 DECEMBERZDZ3 I ACCOUKfiNG PIXICIES-ccntinu#d Tangible ftxedawts Oepreciation is provided 8tthefolknwing2nnual rates In ordÈrtrtwfEtÈ off each 455etoveT it5 e5ttrnated useful lifè. Leasehold Eql¥pMentaTrdf￿inss - over th¢ lenth ofthe lease - Stralght line Qver 4 yws. Straight line over 3 - IQ years and liJ% redu¢kn balance. Heritrge assets The PaTaehul2 Reggment and Arborne Forces Charity holdsvarfous hérit¥8e a￿ets. including a mernorta ststue, paithtings, ¥l*uettB5, and trophie5, to preserye the heritage cf the Parachute Re0iment ¥md Alrbome Feree& These asset5 are included at cost and 8re nrt depreoated as thelr natur? means th* they ha￿ 3n lJ)defv)fte usefvl ￿0￿omiC Iwè. considÈratlon ts givgn Èach year as to wheih¢r th¢ ￿lu¥ these assersshtsuld bewritton down IfarLjJW5trar￿ rneanthey have becorne itnpaiEEd. Alrbome Assauk Limited. o subsidi￿¥ of ￿ maiN thariry, hows a large nLmber of herfcoge ￿ets in CDnTheC￿n with the htstory ef AirbomÈ F¢rte$ 4n¢ consists tsf the Museum's colleclion both ¢n and tsff display. They indud@ medaL%, uniForm5. equ4)ment ¥ehi£le5. an extensive 3rchiwe of docurnents and ima82ry and other arrefacts. The obietts are CO￿1&ered herrtage assets under the Statement of RecOTn￿ellded practi￿ terrns ¥theyare raneible assetsof hstorlc Or èrtistK import3ftce,' Gonsequenity, novaluè is placed on eithér1he assetor thedon*tion for 8tWUDtingpurpose& The manweryt poll￿ ITh respect¢f herftage assets is summarisod in note 16. Taxa¥en Thecharlty lsexemptfrom roTptsroti4n tsx on its charitiwe actwiti&& excopthrits tradingsub5idv4ries. Stork Stocks are valued aithe lower of WSL and net re8nsable v81ue, after maying dedudonsfcf obsokte slow rnowng itet Fund ac¢ounth¥ Unrestricted fvn(ts can be used IN accordan￿ with the charits￿e tsbjettrnfes at the disuetion of the t￿￿te Restrlcted funds can only be used IDr trartEcul8r lestritted Dutposes within the obJÈtts of the charty. Restrlctions arise wh¢n speofied by the donor or when fvBd5 are Rised for p8rtlcukr restricted purpl￿. Further explanation of thè ntture and purwst trf each fund is induded li the notss to the finoncial stat￿ents. Basis Df consolidatlob) The account5 of the 8roup cons01id3te tha results of ihe company and Its subsidlary undembnBs. ABP ItEtsil timit¢d. PAftAYIO Umlted and Iurborne Assault Limlted whlth are rrwd¢ up ta 31 December. The a￿Ounts are consolldaied OD a linE by line bo515. Re￿￿emEnt l>enefits 7he chaiitable comph Try operate5 4 d¢flned coniributi4Tr pensiLWI 5¢hÈme. ConTribution$ payable to the chari13ble company¥ pension scheme are tharge tD the Ststpment Df Financial Acbwtie5 in the PEripd t whTeh they relate. Exptnses art *lloeated based the proportitsn of direct casts reqwred tD 5uppon ch Page2Z THE PAKAa4L¥TE RE61MENT ANCIWRBORNE FORLES CfriARrrvTIASUPPQRTOURPA OTESTO AMthNCIALSTATEMETrifs- COWT114UED FOR THE YEAR ENDED 31 DECEM8ER2tr23 L OONATIONS ANO LE6AaES Grtsu 2023 parert 202a £OLK) fjroup 2022 parÈnt 2022 £000 PAW'IOspDnsorship P3rBth12 donations Oonition5 Le8acles Grants Day's P3y kheme income Donated serviw and faeiltties io io 45 218 IZ4 21$ IZ4 302 66 287 66 24 193 41 196 42 524 196 193 547 674 594 Dort8ted zre borne by the Mintsty of D2fence In conn2cticffl ￿th staff scconded to The Pitschvte Regimentand ￿ri￿Jrne ForcES ChaiitywithDUttharge. 3. OTFIER TRADINGACTrVITIE5 6roup 20Z3 Para)t 2023 £ODO Group 2022 Parent 2022 £0( MetchandtS¢ Advèrtising- Pegasus Royalti Charitablefvndrèising Èvents ABP Retail knrnited PAftAS'IO knmrted Par40ata phDt05alE5 Tradlng acÈDiltle$ ioi ioi 28 31 30 30 34 13 394 429 164 81 114VFSTMENTINCOME Group Z025 Parent Grou 2022 rent 2022 2023 £000 Dividendsfrom itwestments DepDSit *t¢oufttinterest 335 335 328 128 379 379 331 331 INCOME Fff￿ CHAR￿ABLE￿CrlVrn￿S GTOUP 2U23 £000 Parent Group 2022 Parent 2D2Z EiX)Q 2023 £000 Subxriptltsns- Pe83sus Journal 6ranis Res2archlarthivev¥*ts Charltèble atLNittèS Chantsble?rt￿ltf￿5 Musevm runn5ng io ThE PARACHU¥E REGIMep4T ANDAIA6ORNE FORCES a4ARITYTIASUPPORTOUR PARAS NOTESTOTHE F114ANUALSfATEME14TS-CONTrNUED FOR7H£YEAR ENDED31 DECEMBÉR 2023 6. RAISING FUNL15 Group ZOZS EOOO Parent Group 2022 £0 Parent 2023 2G22 £000 RaI￿ngdOn*tyJn5 ind leg2cles aff costs Fundraisi￿ and DnlinÈ givin8c9515 Trèvel and SLFb5iStence Functioneypertses erchnd Trading actpif(ie&' ABP Her&il Litnited TradiThE PARAS'IO Limited SupportC05ts (see nete 91 88 16 69 io 16 io 28 14 301 25 30 496 305 42 20 463 30 170 20 116 7. CHARifABLE AcfNmES COSTS IGROUP) irect(Q5ts 6rantlunding SuprAIrtcwts of activities 15eÈ*ote91 15eenote81 EOOO Tots £v(KJ PrDrnOte and malThtsin the herfitage ofThe Parachute ftegirneni èndAirbome FaT¢es- Ger)èr2 ProtnDte and maintsin the heritage of The Parachute thwment andAirborne Forces- Museu 66 21 87 195 261 2D2 28 2S9 Promote the efficlenryofTheParachute Regiment and Fortes Rèlief of nped. hardshlpznd dlstre5s of paAand Pr￿ent members ofThe ￿rathuts ReÉonent and rborrte Forte$ and theirdepÈndants 44 125 si 220 135 313 156 440 438 235 •24 THÉ PARACHUTE REGIMENT ANDAIRBORNE FORces CHAArrYYiA suppoKfouR PARAS NOTESTDTMEFIPIANaALSTATEMENTS- coNnNUED FOR THEYEAR ENDED31 OECEMBER ZOZ3 7. CMARrrABLEACYIVITIES COSTS IPARENTI Directccsts Grarjtfunthing Support Costs Tots of acuvities (See Jjote 91 (See note 81 £000 £000 Promote and r￿l￿taIr¢the herfta8ÈofThÈ Parathute Reelment and Airberne Forces Promotethe EffitiewofTh? Pèrathute Rwtnent andAwbome For￿$ Relitf Df r￿d. haTdship and distres50f p￿t and preseni members ofThe Par3thute Aegiment and Airborne FO￿eS 8ndtheirdep2ndÈnts 21 142 44 125 si 220 135 313 155 245 493 228 966 & GK4NT5 PAYABiE 2023 2022 6roup £OOD Parent £000 Group Parent £000 Promote4nd m3intsln the herltageof The PÈrathutE Rwrnent andAtrbome For£es-Gener4 Promoteand m8¥nlain the heritageofThe ReEiment- Museum Promote the efficierry ofThE P4ra¢l¥ie Regiment and Atrborne Force5 Relief of need. hardship •nd ￿￿eSsOf past afid pre$ertt mèmbers ofThe Parachute Peyment and Airbome Forcès andthpirdeppndants $5 51 125 125 313 313 294 294 438 493 414 465 Arta1￿ df Erants payable.. Totalfunds Total fvTrds 2023 2022 £000 £000 Unr25trtcted Restricted £000 £000 Otherorg8nis*Dn5 and indiwdu21s 8reya Ward 345 93 438 414 Totsl Group 345 93 438 414 Airborne Assau￿ Limited 55 $5 51 TDtsI Parent 40D 93 493 465 Th2 P8Fent charity made 8 total of 318 grants to indwiduals for the prov￿0￿ of welfare 5erillc￿, support attd linandal ￿lSE￿￿te lor soldier$ or fam￿¥ and dependants of sgldiers of The Parathute RÈiimÈtttandAirborne Fortt5. THE PAK4CHUTE REGIMÈtIT ANDAIABORNEFORCES CHARITYTIAWPP0￿QVR PA NOTE5TO ThIE FIMANCiAISTATEMENTS- coKfiNUED FOR TH£YEAR ENL>ED 31 DECEMBER 2Q23 9. SVPPORfcosTS Goveman Other £000 sts Totsls £000 931sln8furds 30 Promote and maintainthe heritr462 of Th¢ ParèEhu AÈ¥iment andAirt)orne Eorc£s Prumotethe Efficiency ofThg Parathute Regimentand irborne Forces RelieFof need, hardship and (Pttr*gs of pastand present Mernbe￿ ofThe Pa￿Chi￿e Re8imwt and irbgrne Forc45 4ndthe1rdE￿fi￿3nts 19 21 47 51 144 210 18 228 Mvseum runfting JlocatedtDCh3ritableAci¥vSfjes 25 235 Yotsi Support Costs 238 27 265 Acbv Other Ga¥Èrnance tosts Basi*oFall(*atio Proporri¢n of direct cort5 req¥lrsd tQSUPPgrt oach acbvity Proptsrtiortof ￿irecte0*￿ requwed tosupport each activity 10. NEf INCOMVIÉXPENDITURO Netlnmme/ IExpenditurel1sStatsd 3ftirth3rgin￿lU¢dilinl)'. Z022 £0 EIJOO Audituts. rÈmUner3tiort-curtent￿8r (Net ofVAT) Auditors, remunErJtiDrJ-sub5idiarie5 [r￿tOfVATj D*pre¢iati¢rt-owneé wets Amort*UDn li 48 14 Is 11. TRIJSYEES. REMUNERAnON AND BEPIEFITS ThEre were no tru#ees' rèmurtoratiOTh or other benefits for the year ended JI DEiembpT 2023 nor for the ye8rended 31 De¢ember2022. TrLLStee5' expenses Durfng the y￿r six12022= onel tr￿ted5) of thÈ th¥ity were reimbursed tra¥el and 5ubsiStert¢È costs in¢urred incoftnection wth thE th8ritytotslling £4,55312022'. £8141. Pa8o26 THEPARAThVTE REGIMENT AND WR80RNEFORCES CHAkryYTIASUPPORTOUR PAAAS OTESTOTHE FENANCFALSTATEMf hiT5-ccv4nNueD FOR THEYEAft ENDED31DECEM8ER2023 12. STAFFCOSIS 2023 2022 W48E5and salaries Soclal sethritycosts Empfoyets- defined wntribuiions 4SI 38 20 347 25 17 389 The charity rEC￿v¢sfvDdinS frorn thef0llc￿ng SOUFC25in relation toemployed roles.. MOD ManaEempntand admlntstFatbn MOD Museum operatlon OgtlbyTtiist Museum operation 32 22 63 24 The averag¢rnonthly numberof employees durlnitheye8rwas èsfolltsws= 3023 2022 Benevolence and weWare support ManaÈÉment and adrniniStr3tsn Museum upEr8￿Ort io The number Lif employees whose employee benefits lexduding eryloyer per$1￿ C05tsl exceeded E60.OOU was.. 2D23 2022 rn).OW. £8Q.O(X) The Chief fxècutivÈ Otfior. Finan￿ Direcror. Head of W￿18￿ and the Head of Fundrèi5iw & Communications are ¢on5ideYed kEy manaKement PETsonnEI. The iotal employee benefit5 in they¢ar (sncluding e￿￿0Ver.$ n4tig￿l in5uran¢e and pen55Dft COntributio*sl fttr these posts were E204X)(X) 12022.. £190￿￿1. PaiR27 ThE PARACHLITE REGImH￿￿t4oAIKBOR￿E FORCES CHARif¥TIASUPPORY OUR PARAS NOTESTQTHE FINANCSAL sfATEMft4TS-CONTINU FOR THEYEAR ENDED310ECEMBER2023 13. CQMPARATIVÉS FOR TNESTATEMEiifoF FtNANaALACTivmESIGROUPI UT%re5trirted ReStr￿ted funds funds £coo 5S6 Totsl fvnd5 £000 674 INCOMEFROM DonatlOn5 and legac4e5 Chaiitable Jctiwties Incomefrom £haritableatt¢V￿￿5 OthÈrtradingattthiitse5 INest￿ent incorne Other Incom 428 271 429 331 Total Fn£om 1.258 1,442 EXPENDETURE ON R¥isingfvTrds Charftabfeouivltyes Promots and m31ntsin the heritsge of The P8Rchute Re&4ment and Awborne Foros Promoteth¢ effigenwof The Parachute Re&ment and Airborne Forces Rellef of r*ed. hardship and disuoss of p35t3nd present men)betsofThE Pardchute Rewnentlnd rbome For¢e$?nd the1rde￿ndants 63 194 265 221 230 362 145 507 7utal Expernfrture 1,24Q 22S L46S N￿OpE￿TING IXCOME 18 1411 Netgainsortitwes￿eWts 11.1341 12491 11,3831 riET INCOME IL1161 I2￿) 11,4061 Transfgr b¢tsv•8rsfund$ Net movement in lunds 12881 11.4061 RECONCIUAnON OF FUNOS Total knughtfotward J2.023 3.289 15312 TOTAL WNOS C4RAIW FOftWARD iO,YJ5 3,001 13.9L Pa£•l8 THE PARACMUTE SIEFIMENT AND AIRBORNE FORCES CHAWTYTIASVPPORTOURPARAS NOTESTOTHE FINANCIALSTATEMENTS-coKfiNvep FQR THEYEARENDED31 DECEM8Eft 2023 13. COMPAPAIIVE5 FOR ThE STATEMENYCfj Fif4ANCIALArnvmE5 IPMENT) Unrertricted Ru5tricted funds funds ToEal funds £QOD s94 INCOME FROM Donattons It￿￿e$ Charftsbleè¢tsvilips Incorne from charitsbk actlvllles other1rai￿n8•cil￿t￿9 Inveamenr Income Other ix¢¢me 96 81 331 271 60 Totsl Income 162 Lrjii EXPENDITVREON Raisingfunds Charitable a£bvltles Promotr afid r￿sntaIn the herflO8e otTh& P?ra¢bvte REgiJneTht and Airborne Forc25 Prornote theeffictencyofThe Patschure ReqirrtÈnt and AlrbornE FOr￿S Rellef of hArdship and d45tre55 of p351 ènd present mernbers ofThe P3rzchute Reymentand Aknorne ForeÈs andtheirdependants 116 lis 132 132 221 230 362 145 S07 Totalexpeodlture 831 154 985 NETOPERATING IN¢OMe 18 26 Netyiths on wNe5tments 1,184 11.3851 NEf INCOME IL1161 12411 ILJ57) Trllr￿ betwunfun Net rDpvernent in funds 11.1181 12391 113571 RECOM¢IUATION OF FiJNDS T4rtwlfuruts br(w8htfDrward IIMI 2,489 14,30ri TOTALBJNDSCARRIED FORWARD ICS,693 2250 Il943 hgE29 THE PARAOFLTfEREGIM£WT ANDAIRBORNÉ FORCE5CHARITYT/A5UPPORTOUR PARBS NOTESTOThE FINANaALsfATEMENTS- CONTINUED FOR TrIEYEAR ENDED 31 DECEM8ER2023 . I￿ANGIBLE F￿DASsET$ Computer Soft￿re Graup Totsi Group £000 Total Pare At ljarttsary 2023 Additions 547 547 14 At31 DÈtÈmber2QZ3 547 547 DEPRECtATION At lJ4nuary2e23 thargeforyear 499 14 499 14 At31 De￿rnber2￿23 513 513 Nrr BOOKVAWE At 310ecemb¢r 2023 At31 De￿mber2o22 48 Computer 50fvarerepreserit5 the P8rnDaE8 systsm andSvbsequen¢5ubSt8n￿al wpgfaes tothe plarform. 15. TAN6181EnXEO A55Ers Plant and Long mxhinery Le15ehold etc GTLWP GYDUP £000 Totsl Group £000 Totsl Par*rt Atl January 2023 Additsons Dtsposals 1.571 1821 27 At31 December 2023 L57Z 2.822 26 DEPItEaATION At l Janu3ry 2023 Cha￿eforYear Eliminated on thsposal 570 L556 2,126 At 31 Decemb2r2023 1564 2,173 19 NETBODK VAWE At 31 Oettmber2023 641 At 31 Oecemiw 2022 15 695 13 Ltr]Tg1*sehold 85sets rewesetttsthe remal*iThE value of the lease held byAirbome Assault iimitpd on thè DuxfDrd prernisek Pknt and mathinery, etcrepresents ¢omputer hrdware and other mintsr8$5&ts heFd bythe pafetti wththe mijorityefthe being ihecost of the phy5itsl rusr of th¢rnuswm dig)ky4 artefatts and èr(hive hÈld byA1rbE￿￿A55￿￿tt P•ttaO ThÈ PARACHUTE AEGIMENT ANDAIRBORNE FORCES CHARITYTIASLIPPORTOUR PARAS NOTESTOThEFJNAwaALSTATEMENTS- CONTINUE FOR THEYEAR ENDED 31 DECEMBER2023 I& HER￿AGEA￿SET$ Totsl Group Totsl Parent COST At l J3nvary2023 Addlttons 351 At31 D￿￿nIb￿r2D23 391 391 Heritage ￿tts represent artef8cts held by The Parathute Regirnent and Airborne Forces thority which are r*¥mentsl pèirrtin8¥ ￿ntrePIeC9s and thé PèrdSUS Ststue situated at tho National Memorial Arboretum. There were no d￿pOs?1$￿ lrnpalrmérttof hèIitogeassets in the yearorthe prpvious f¢¥ry*rs. Alrborne A%?uSr Limited, a sub$idiHry of the main thaTtty. holds a 13rgg numbw of hèritè8e ass¢ts in ¢Onnec￿On wlth the hthry of Mrborne Forces intfj consists of the Museum's collectlon both on and off Isp13Y. They ifj¢lude rred315. uniforms, e4UiOMent, wehldes. èn extenswe orEhNe f+f dO￿rneDts and lrnagery and otherartsf4Ct The oblÈtts are consldered heritage assets tsnderthe Statement tsf Recommended Pr8Uits terrTh5 a5 they re a55¢t5 Of hist￿¢ orarti5tic importance- consequentty, ThDvalu¢ 15 p*ed on either the asset rthe don8tionforattountin8 purposes. There are 4 rnain ejements tD the collertion: thÈ dtsplay in DuxfDr(L th¢ phy51ts1 ar£hlve at Duxford. the dwtal archive ParaData. and ihe reseThe rO1￿ctIon heltl s￿￿tElY * 8￿IngboUrn. The pubtsc are able to atce5S the museum in Duxford whenthe sr(e is open duringthe weel the archive by appointment and tan viÈv• P3r3Data onlinè. Heritage assetr from th* reserve callectiorl carl be rthevet% by museum stdff forpreamnged vlewln8at Duxford. ThE tharity doe5 nat athvely seek new rÈ*ms for the museum but does re8ularty rKeNe it8m5, both don3te6 and on loan, from both serrillg membErs ot the Parachute ReRiment and those who h3ve prewouslyserved In Airborne Forcesor th@IrfamlI￿s. Thecharity Utili￿ digital and physical r￿0rd¢n8f0r Èath asset 4nd has an apprfftd Collea￿>￿$ Poficy and Plan to The Collections Tr￿st SPE￿RUm 5.1 8uideline5. knydtsposals from the colleLtion 3re approved bythÈ trust￿ follownz The Cc41eayonsTrust SPEcfRUM 5.1 puidÈlines and the TllU5ewn5' disposal poltcy. The rnaiority of artelatts wÉre accrued in the 19505 and I%Os. upon the inltlal estabftshment of thÈ original museum in ￿dershot, 3nd theywouid never b8 501d. Fortkos reason. the value 15 not Included in theaceounts. Fur insur3DCt purp¢sEs, the trustees have undertaken a y￿Uat￿}n of the colle¢¥on whlth indicated a potentsal vèluÈ of £3.245370. However, 35 the th3rity wuuld be unèblÈ tD di5ppse of the collèction bv Selling the itetn5 thi5 15 considered to be relevbnt to allowing the charSW to rebuild the cdlecbon rf desrroyed and io many eases Itwould T￿t able tD repLryce the items asth2y3re U￿qu￿. THE PAR4¢HiIT£RE$IPIIENT ANDAIRSORPIE FORCES(HARtTYTIASUPPORTOUR PAAAS NOTEsfoTHe FINANUALsfAYEMENTS-Co￿1￿uED FOR THEYEAR ENOED 31 DECEMBER 2023 I& HEftIYAGEASSffS*rDnt(nued Al 8 summary4 £14,648. the total valuE of objects re￿Ned into the collectlon the past S yvr5 15 vjlued at Year 2023 2022 2021 202Q 20 Novfitems donated co5tolacpu￿ltE0n Valueof d)natiDn 1£) 256 74 57 4.777 6.025 2.376 575 No•e o*th¢ itsowe itsmshÈve beÈN reeo8nwd in the cthariryacwyThts in IlTre w￿h£he acwuntillg wlicy. 17. FIXEDASW INVESThIEP4TS Group Ltsted iTwestments MARKETVAIUE Atljaouary 2023 AddÉtsan5 Oi5POsa15 Aev8lu*lo ID,519 1,488 999 At310ecemèer2023 NET BIX>KVAiUE At31 O¢cember2023 ts,004 At31 December2022 10,519 Lsted investments MARKETVALISE Atl January2023 AddiMIIS Disposals Revaluations 10519 999 Atal 9È￿￿tserI023 I3,￿4 NEI BOOKVALUE At31 Oecember2023 AI31 DKember 2022 ID519 Llsted investments or¢v)lued #rtheirgvoEed mèrket pri￿ ltih? bBlance sheetd8t¢. PoKe32 THE PARACHUTEAEGIMÉNfMDAIRBORNE FoR￿£￿tAk1T¥TIA$VPpORTOVR PARAS NOTESTO THe FINANcIAL￿AT￿ENtS-CONTrNUEo FOR TrIEYEAR ENDED 11 DECEMBER2013 17. FIXED A55EfiNVESTMENTS-rontinued The parent iompanvs investments at the balance sheet date In thè shate DI companies ittdude thefolbwln& PARAS'IO Limited Company registration number.. 08368199 R￿E￿Ie[ed office: Rezimenkl Headqu2rter5, Mervllle Barracks, CL4che5ter. C02 71rr Mitvre ol busine5s= Comr￿r￿al Events Clatsof share.. hD>Jlr 2023 £wo 2022 Awesatecapit818nd rè5ÈNes Proflt fortheyear 30 AOPRetail UmAed Company reg￿13t10Th numbLr. 06009028 ReE15tered oftlce.. TerTrn￿ House. Unit$ 1-3 Denr￿n Street East. Nothn8ham, NG7 3GX Matvre of businesy. Retail andonllne Shop aass ofshar¢.' Ordifiary olding IOD 2022 EOOO AggreBrtenpitsl and reserves PmfitforthÉyear 55 28 55 AwborneA￿yI¢ ismitsd Corr¢any ￿9￿lIatIOn nurnb￿. 06743823 Charfty regi¢Lration numbEr." 1126r16 AÈg(Stered office.. Re￿Ments1 Headquarters, MervAle Barrack5. Colchester, C02 7UT Natu￿￿tha￿sw.. Museum running mited bygu?rarte8'. Sole CDrporate Member 20Z3 £000 2022 £oDo AgwwEfvods DeftcitftrrEhe yoar 1621 461 Pw33 THE PARACHUTE REGIMEIIT AI4DAIRBORNE FDRCE5CHARITYY/A5UPPORTOURPARAS NQYE5TOTIIE FINANcIAL￿ATEMeNTS. COPlllllUED FOR THE YEAR ENDED 31 DECEMBER 2025 I& TRAOtNG Rf5ULTS OF5U8SJOIARIES ABP R*iall Umlted 2023 PAftAS'IO limtt 2023 2022 TURNOVER 329 339 55 55 Cost of sa￿S 12161 1231 GROSS PRQHT 123 32 IG Othefintome (g4vemment￿￿ntsj 32 16 Expenditure PAOF 28 34 13 AtrbOrneAsSau￿ Limited 2023 20 ÉODO Inc Omotions and legac￿5 Re5eèrch and ArchNe￿S1ts Oth¢rtrérfJng actiwties InvestmÈntin¢ome 132 131 TOTAL INCOME 135 135 Lmpendlture Wèges Property Admio(strotian ma￿ten3nCe Depreciation andamortisation Supportcosts 86 io 14 29 56 81 io 21 55 roTALEXPENDITURE 199 EXPENDiTLIRE 1541 2023 £000 519 Z022 £ODQ 579 Totwl$ubsidiary income YptalsubsTdlaryexpendtttsrt 525 531 34 ThE PARALWUTE AEGIIIJENT ANDAIRBORNE FOR￿ CHARITYTIASLIPPORT OUR PARAS TrIOY£STOTHE FIN1￿cIAL5TATEmE1ITs-cOPlThNUÈ FOR THEYEAR ENDED 31 OECEMFER ZOE3 19. DEBTaRS..AM¢XINTS FALLIP16 0UEWThIN ONEYEAR 2023 EQOO Gra￿1 2025 £000 Parent 20ZZ £c¥)o Gmup 2021 P3Yent Arnounts owed sroup unJ¢rtakln TTrded¢bto¥s herdEbtars io io 57 118 227 132 I￿ CREDITORS:AMCdJllTS FALLING DuewThHIN OMEVEAR 2023 £0 2023 £oc Pa￿t 2022 £coo Group 2022 £0 ParÈnt Group Yrade ueditors Tax*lon and SLx681 seC￿rrty Other creditors AcrruaLsforgrwts payBble 21 17 76 li 86 114 95 131 ioi ZI. CREDrroRS: AMOUNTS FALLING DVEAVER MORETHAN ONEYEAR 2013 2023 £000 Parem 2022 2022 EO(O rent Group Group Accruatsfor8rènts t)ayable 61 116 61 116 21 WILYS￿ OF NEfASSET5 PFfwEEN FUNDS 2023 Tots fJn05 2022 Total funds Unrestrlrted Restrlcted Fund Funds £¢M)o Éooo 13rwp fixed assets Investrnpnts C￿rrentaS$etr Current li8bilities Longter¥n lia￿lItieS 433 10,934 641 2,070 492 1,074 ,004 836 io,s 2,384 Iiofl 11.605 3.195 ,&Jo 13906 CorN)aay Fwed assets lftvestmeDts CurreDt a$sets currpnl ￿?bIlItieS Long term liabilitles 404 10.934 228 187Tr 1611 t104 411 416 654 1951 Isi) 2230 14418 2.488 1331 12.943 e35 THE PARACHUTÈ REGIMENT ANDAIRBORNEFORCES CHARITYT/ASUPPORTOIJR PARAS NOTESTOTHE FINAN¢IALSTATEMENTS- CONTINUED FOR THE YW ÉNDE0310ECÈMBER2023 2> MOVEMENTIN FUNDS et Transfers mDvem¢rt betw*en At infuAIts fu￿& 31.U.23 At 1.123 Ut)resirfrted tomponytun 6eherèl fuhd HeFit3gè8ssets l(ksiKTh3tedlundl Airknrne Assault Ltdgrdnts Idesignatedfundl other designated funds Ide$i8nated fvndl CrUd￿r¥ton Appeal ILIE5WBtedfundl 2040 Fund Ide5i8nated fvndl V*Fe5tFiCted subsklAryftsnd5 ABP Retail Lirnited general fund PARAS'IO Ltmited genpRI fund TborneA5S3uIt Ltd gew31 P6r808t2 phase 11 (desig￿ted fund) Otherde%¢Thatslfund5 Ide%igna£edf¥ndl 59 9,768 391 116 12 28 L102 391 171 1141 28 1.013 ss 28 30 [291 poi 55 54 37 37 41 31 10,905 7W 11,605 Re5trKted funds op¢￿tiO￿l Support PJnd BefjevolettceaDd WeW¥re Afghan1stsnT￿$t Otherresrricted AirbarneA55ault Nom)èndyTrust 8r4afvnd Frantis Fun PaTachute ReEirnent and thrbome Fcwces MuseuJnTru5t ParaData Phase11 og11byTn￿t¥rant 129 98 189 227 2.073 20 17 162 17 112 710 41 1401 670 35 3,001 193 3.195 TOTALGROUP FU14DS 19.906 34.800 TQTALCOMPAfiv FUNDS IZ,943 13.906 Fy36 rHE PAPACHUTE REGIMENT AWDAIRBORNE FORCES CHARITYT/ASUPPORTOURPAF14S IIOTesTO TfrIE RNANCLALSTATEMEPIT5-CONTINLIED FOftTrIEYEAR ENDED 31 DECEMBER 2023 Z> MOVEMENT IN FLINts5. ¢ontiThJed Net movemertlft ftsnds. induded intheabove are a5follows- Inckyning Resources Gaits ènd Movement resources Èxpended losses in fund£ £0 £wo £000 00 Llnre5triLted coMp¥nyfuDds General futhd Heritage assets Idesign*edfundl rborneA553utt Ltd grantsidesignated fund) Dther des*￿tsd funds Id*ignated fundl Crud&ngtonAppeal Ide51￿ted fundl 2040 Fund IdeslgnatÈd fundl Unrestricted sub5idiaryfund5 ABP Retsil timitedgener81 fun PARAS'IO Limited g2neTal fun rborne Ass2utt LtdgÉneral fvn ParaData Phase11 ldeslgnatedfvndl Otherdo¥iqnatedfvnds Idesignatedfundl 8SS IY61 736 645 21 1141 89 325 55 56 13011 1251 28 30 iioi iioi 1316 IL4¢11 825 700 IteStsIc￿ compaDyfvtMIs Operationalsupport Fwd Pega5usJD4Jrn31 8ÈneVO￿￿e ènd Welfart Af¥hani5tsn TN5t Otherre5tricted AirborneA552uk NorrnandyThJ5t Breya fuhd FraEKi5 Fund RestvKted subsidiaryfuThd5 P3rachutÈ RegimentaDd Mrboffte Forces MuseuMTr￿[ P£r£Data Phase11 OgilbyTntst grant 98 55 98 165 24 188 11681 174 TOTALGROUP FUNDS L504 I1,￿) 894 TOTALCOMPANY FUNDS 1.100 11,1361 963 ThE PI&AOIUTE REGIMEP4T ANDAIRBORNepoRCES CHARfTYTIA SVPPORTOUR PAPA5 ryOTESTOTHE FINANaAISTATEMENTS- CONTINUEO FOR THE YEAR ENDED31 DECEMBER2023 MOVEMENTIN FUND5- ¢ontiWEd Om￿￿tiVeS formovement in fvnds Net Tran$lers rnovernent beN*eA infunds At 1.122 fvnth 31.12.22 £o(K) Vnrestrirt¢d comparyfunds General lund Werit88e •¢ts Ide$Enatedfundl Airborne￿5￿ult Ltd grants [d￿l￿at￿d fund> Othef desiÈThètsd funds Idesigr¢ated fwidl CrudEir*tsn Appeal (designated fund) 2040 Fund Idèsi£rtated fundl Ilnre5tridEd 5ubsid￿ryfUTrd9 ABP Retail ￿MIthd ¢eheral fund PAPAIIO Limited general fund AirborneAwult Ltd gener81 fund ParaDats Phase 11 IdesignatÈd fur￿} 0thord￿￿)￿edfv￿dS IdÈ$ignatsdfundl 11,367 367 51 26 11,1531 11,1S0I 24 9.064 391 171 26 ¥013 55 1341 55 35 92 3D 37 79 41 1131 14023 141161 10?05 Rertri¢ted fvnds Operatfonal ￿pport Fund Pesa5UsJournal Benevol2n￿ and Welffare AfghaThlstsnTrust Orher restrficted Airborne A5SaUtt Nom￿ndyTrU$t Breya fund Francis Fund Parachute ReÈirnEntalld Aiiborne Furce5 Museum Trust PdraData Phase 11 Og(IbyTrLtstorant 57 108 20 30 17 12241 20 30 17 162 51 42 3.289 12901 3,001 TOTALGROUP FUND5 15.312 11.4061 13.906 TQTALCOMPANYFUNDS 14.3tYJ IL3571 12,943 TME PARACHUTE REGNE￿ ANOAtRBORNEFQRCES (￿ARrTy1}A5UPPORT OURPARAS OTESTOThE F114ANCPAISTATEMENTS. coN￿NvE0 FOA THE YV4RENDEO 31 DECEMBER 2023 23. MOVEMENT IN FUNOS- eohtinu& Comparatlve netmov8rnent infund5. Indudpd in the aboveare 35 foUow* In¢omiD$ Resovrces Gain5 and Movernent re￿￿rteS ¢xp?nded losses In funds £oJo £coo £0 £000 Vrtrèstrirted tOmpanYf￿￿s General fund HeriEaÈE 555et5 IdESi8n3ted fwid) Airborne Assault Ltd grants Ide5Ignaie¢ fvndl Othpr designated fund5 Idg5ignHLedfvndl crL￿gI￿t￿￿ Appeal Idesignated futtdl 2040 Fund (designated fund) Unresviaed sthtdkrylunds ABP Retail Li￿￿￿dEenera1 fund PARAS'LO timited genet31 fu*)d AirbGme A5saultLtd general fitnd Para￿￿ta Phase 11 Idesignatedfvndl otherdesiEE)atrd fund5 Ides¥nateLlfundl 725 17311 11,1471 11.1531 20 57 1201 1291 28 13 13 339 55 13051 1421 1971 34 1371 1,258 112401 11,1341 11,1161 Rettrftted tompanyfvnds OpeTrtional s￿￿p￿rt Fund Pegasusjournal Benevolente and Welf*re Afghan￿￿ Trusr Other restricted AirboEne A453ult Normarktyrrust 8raya fund Fr¥ncis Fund RestrKted sub5id&ryryfvnds Par2ehute Rèpmentand ￿r￿orn* Forces Museum Trust Pa￿Data PhE5e11 08IWTrustgrant 191 1241 1451 95 S7 12361 12141 1761 1131 1861 1401 191 1401 191 12251 12491 Izyol TOTALGROUP fUPItrS 1.442 11.4651 11,3831 IL4061 70TALCCWPANYFUNDS i.oii 19851 11,3831 IL3571 Prye39 THE PARACHUTe AeGIMENT ANDAI8BORNE FORCES ¢HARrrvTIA SUPPORT OUR PAMS NOTES TOTHE RW4cIAL￿AT￿EMr5- CONTINUÉD FOR THE YEAR ENDEP31 DECEMtsER2023 MOVEMENTIN FUND5-contihuEd Unrwrithd fund5 The charity's gener41 fitDd5 conslst of funds which the a￿ free to tr5e in acctrrdaffl￿ wlth th? tharitablÈobjects. De*ETr3tedfunds The charivs deSi￿ted fund5 {0D5￿t of tund5 which the trtsstÉÈs have de&gnatsd for a s￿Or1¢ purpose ￿ stated in the a¢￿U￿r$. The Airborr* Assault fund desigrjaton re1ètr5 to the three year fvnding agreementand will be expended by 2Q22. The ParaData ph3se11 fund rdatesto funds heldfor pectedfuiur2 c¢sts and will be e%pended %vithlryt￿nExrthrePtPfIYBV￿T Restrlcted funds Pegasus Journ81- the fund represents thÈ su4)lus or deftelt on the pub1KatiO￿ Trf Thp Parithute ReKirT￿v5 Journal £onsi5tyng of three tditiOn5 per annvm. Any sutplus t5 held to fund fut￿re Issu whilst deficits are £trvered by applKatlon of general fund% Ple4se refer to note 24 for fvture tharys to the pÈÈasusJoumal. Benevolence and Welfère- ￿ lift￿ with AGAJ rtukdancè. an elem¢nt gf th¢ Day's ￿ SchernE Is to be withheld forbEnevoler*tlwekre purpose5. Afghanfjsian Tiust- IN 2015 the tharity receNed the entlre fLwds of The Parachute Re8imeM Af8h3n TrusL Thè fund is to ￿￿￿nded in liffte with ts c*bjects of the OfiEin81 tharity whlch 5UPPOrt those from Tke Pl￿￿hUte Re8impnt who had bEen deployed to Afgh3nistan during the conffict. Thp Trust a150 ex￿nded the remlt tts thosé who had bÈeN k41Jed OT injured 5inw September 2UOI in Afghanistan and Iraq to ensurethatthefund can supptsrt Parathute Begiment Petsonnel dep￿Ye￿ Operational support fvnd- this fvnd 15 tL> be used costs of supporting famI￿e5 of tnember Df The Pavachute Reglmentwhoare on artive service. OthÈr- these are htnds with rnlnar balances whEth sI￿u￿d be ￿pended w4thin the next twefvE months. prinapal Testricted fund transferred from the Alrborne Assault Ltd relates to the atsèts and liabilities of The Por•Ch￿e ￿Ernent and Airborne Forces Musevm Trust. which are c￿￿[￿ed as re51riLted fund under the 3maEB3m3tKn of the [harit￿& Airbomt N&aulr Ltd hek1 three other resirftted fundsforP#raD8ts Phas011 Developmerti, Redisplèyelthe mvse¢Jm collectiort and Owlbv The P3rathuts Re￿rnent Al￿Orne FoTce5 Museum Trust. more commonly referred to as pf14FMT. a l*nked charlty of s￿rborne Assault Lfj￿ted IAALI.The PRAFMT15 thevehiclelhat existed piiorto the é8tion of AAL and the organ￿atrOft Ihat oversa¥Ythe mov4 frOM￿der￿OttD IWM Duxford. the PRAFMY owns è Dumber of the mu58urfs assets indudingthe lon8-term lease, the rnttseum'slntsmal fLXtures and fitting and 3rtefrdc￿ All suth assets are held in a restricted fund vrithin ML A5 linkÈd eh•rtti¥ thé AAL 4ndth¢ PJWFMT4retreatEd asethe orÉanisati#n. rborne Assau￿ Norrn3ndy Tru5t- In 2016 thè tharty recer￿￿ the entire funds of Airborne Assiult NormÈAdyTri* Thtfund isto be eypendtd In line wlth the oblects of the origirjal thafity whith wa5 the wmanellt preJerv*tion of the Normandysitt for the educètion 3hd beneft of the n*iDn and the artnedforc250f the UL P4•40 THEPARA¢HLTtE REGIMENT AND AIRBORNE FORCESCHARITYTIASVPPORTOUR PAPAS rio¥ESTOnlE FENANCLALSTATEMEPITS-CONYINUEIJ FOR ThEYEAR eNDeD31 DECEMBER2023 21 MOVEMENTIN FiIM)S-cantlrbue Breya Fund. a desenated f￿ndWI$ estiblished ro consolidats donations and ersure the most cost and tsxeffKient channel to a5555t in fundinz prnvi5ion ol overseas rned1£￿ treatsrent forthe daughterofa rEwrnental %uFFerln8 from neurobfa5toma cancer. The tamilvs needs ar￿(￿8 from the child's U tre*merthave aLs0 beensuppDrtedfrom Trustees. ur4restrirt*d fvnds. Franas Fund-thi%fund rnlat*s entirelyto a legacy recBwed tn 2020 and thp5efund5 shall be util￿ed for the benefit of ￿￿E5 Bnd orphans in distress of ¢Jeeeased ex-A4rborne solLfiers and Alrbome d￿bled 501diets. TFanstets betweèntund5 Duringthe year, various fund transfws have been processed asthetrustees believethern nece55¥ry to gNe 3 more accurate 3t the year enth. All tr•nsfÈTS arÈ ttandard con501tthtiC*n tra￿¢¢1¢￿ re4ulred to ¢otrettthe8roktp ptssitiort atth* y¢¥r•nd. 2& PEGA51J5JOURKAL The cost of produting #nd dbrrlbutlng the Journal is funded fr¢rn a number of The in¢ome retsiwed Ind itsapplicatTon bythe tharity ￿Setout belw. 20Z3 2021 £00) subscriptions AdvethSing income IntEresL recewed less annual runnlnge05ts 17] Surp1￿1{¢￿efi0tlf0rthe year 2023 £000 2022 Publitstioii tosts l#surance 25. RELATfD PARTYTRANSAcrtON5 The onty trafjsèctions wit* related parttes arE between Whol￿ owoed members of the group ?5 detailed in Note 17. These tran51rtions are indudtd within the ¢on501idated accounts ond are net requiredto t¢ rfiscknse PDK¢41