2025-02-28-accounts - Raf Brize Norton Jrwf

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Charity number: 1132398

Royal Air Force Brize Norton Junior Ranks Welfare Fund

Annual Report and Unaudited Financial Statements

for the year ended 28th February 2025

Wenn Townsend Chartered Accountants Oxford

Royal Air Force Brize Norton Junior Ranks Welfare Fund

The Trustees of the Charity

Principal Address:

Group Captain Louise Ann Henton

Royal Air Force Brize Norton Junior Ranks Welfare Fund Carterton Oxfordshire OX18 3LX .

Royal Air Force Brize Norton Junior Ranks Welfare Fund

Financial Statements for the year ended 28th February 2025

Table of Contents

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Report of the Trustees

for the year ended 28th February 2025

The Trustees present their report and the financial statements for the year ended 28th February 2025.

_ The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS102) in preparing the annual report and financial statements of the Charity.

Objectives and activities of the Charity

a

The object of the Junior Ranks Welfare Fund is the promotion, provision and support of social, sporting and other facilities for the military efficiency and well-being of Servicemen and Servicewomen. The objects also extend to making grants to any activity which, in the opinion of the Trustees, is in furtherance of the objectives of the charity.

e Encourage spirit de corps by enabling Service Members to mix together, so as to help keep service ~ traditions alive and encourage the well-being of the Community.
e Encouraging, supporting, and facilitating the development of sport to raise standards and to promote the link to fitness, teamwork and personal development through sporting activity and opportunities.
e Supporting facilities and capital projects to enable the best possible provision for the RAF Brize Norton community, which includes MOD civilians.

The main activities are:

1) The provision of grants to personnel of the rank of Corporal of below (junior ranks) to assist with the costs associated with adventurous training or sporting activities.
2) Subsidising the cost of social activities organised by or on behalf of[junior][ranks.]
3) Grants towards the provision of sporting and welfare grants towards the provision of equipment or facilities which will enhance the working or social environment of the junior ranks at Royal Air Force Brize Norton.

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Public benefit statement

The Trustees confirm that they have referred to the guidance on public benefit when reviewing the charity's aims and objectives, and in implementing and planning current and future activities.

Structure, governance and management

Royal Air Force Brize Norton Junior Ranks Welfare Fund wasregistered with the Charity Commission on 29th October 2009.

The registered number is 1132398. The charity is an unincorporated association governed by its trust deed.

The Station Commander at RAF Brize Norton is appointed as the ex-officio Managing Trustee of all Service Funds at RAF Brize Norton. Appointments are controlled by the RAF Manning, based at Air Command, RAF High Wycombe.

The Trustee delegates the day-to-day management and control of the Junior Ranks Welfare Fund together with the authority for the disbursements of grants and loans, to a management committee chaired by the President of the Service Institute Committee, who is appointed by the Trustee. Members of the committee are appointed from each of the working areas or sections of the unit. However, all management decisions, acquisitions and expenditure are subject to the Trustee’s approval by signature in the minute book.

Committee meetings take place each month. The budget for the next financial year is set in January by the Committee for the approval of the Members at a General Meeting. The Annual General Meeting ratifies the Annual Accounts and ratifies any committee appointments. Minutes are taken at each committee meeting and are circulated electronically to the Trustee within ten working days of the meeting for his approval.

The Station investment strategy directs that sufficient income is generated to heavily subsidise running costs. Furthermore, Brize Norton has an internal Accounts Officer who provides financial assistance to the Mess committee. Finally, a Service Funds Internal Audit Board is also convened at the start of each financial year to carry out an internal arithmetical and management audit of the charity to ensure the Fund is run in line with the Charity Commission guidelines and law.

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Report of the Trustees for the year ended 28th February 2025

Investment powers

Trustees have the power to deposit or invest funds in any manner (but to invest only after obtaining such advice from a financial expert as the Trustees consider necessary and having regard to the suitability of investments and the need for diversification).

Plans for future periods

The main aim of the Junior Ranks Welfare Fund is to encourage spirit de corps by enabling service Members to mix together, so as to help maintain service traditions and encourage the well-being of the community. To this aim, plans for the future include continuing to provide monetary support for sports or adventurous training activities. Requests for assistance for other activities are decided upon based on the merits of the individual bid.

Review of transactions and financial position (including reserves policy)

The Fund had a contingent liability to the Royal Air Force Central Fund, which was £69,808 On 4th January 2016 the charity was informed by RAF Central Fund that the contingent liability had been reclassified as a permanent endowment grant. There will no longer be an annual increase in the sum and the charity has no power to convert the capital provided into income and the fund is to be held indefinitely. The endowment fund must be invested and be maintained at an investment value no less than the endowed monies, subject to market value losses and deflation.

The fund is represented by investments held in a number of funds. The value of endowment fund monies was £69,808, with further investments valued at £374,248, total £444,056 (2024 total: £432,351). Unrestricted reserves, £725,354 (2024: £752,159) represent greater than 12 months expenditure which the trustees feel provide sufficient cover.

Principal funding is from swimming pool and bowling income, which represents 47% (2024: 47%) and 29% (2024: 28%) respectively of the fund’s total income.

All expenditure is made for the benefit of the members.

The fund has a neutral ethical investment policy through investing in investment funds, which aligns with the generic investment strategy as dictated by HQ Air Command.

Risk Review

The Charity has taken out Employers Liability Insurance, Public Liability Insurance and Trustees Indemnity Insurance.

Commitments to project funding are only ever on the basis that income has been secured by the Charity. The reserves policy enables the Charity to wind up without consequential loss if necessary. Appropriate accounting and financial controls are in place.

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Report of the Trustees

for the year ended 28th February 2025

Trustees’ responsibilities

Laws applicable to Charities in England and Wales require the Trustees to prepare financial statements for each financial year which give a true and fair view ofthe state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements, the Trustees are required to:

e select suitable accounting policies and then apply them consistently; * make judgements and estimates that are reasonable and prudent;
e state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements, and;
e prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Society will continue.

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity. They are also responsible for safeguarding the assets of the Charity and hence of taking reasonable steps for the prevention and detection of fraud and other irregularities.

Collectively the trustees ensure they have the correct skill mix to be responsible and accountable for ensuring the Charity complies with its obligations.

The Trustees

Group Captain Louise Ann Henton

Trustee appointment, induction and training

Appointments are made by the RAF Manning, Air Command, giving proper regard to the range of skills and experience needed to govern the charity. Pre-appointment to trusteeship, future trustees are briefed by Air Coomand Service Funds Subject Matter experts and attend trustee training. On appointment, Trustees are provided with copies of the Trust Deed, annual reports and other relevant material. On-going advice is thereafter provided to the Trustee as appropriate. —

Approved by the Trustees on ... SO RVNE | 2025 and signed on its behalf by

Group Captain Louise Ann Henton Trustee

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

. ) RoyalIndependent Air Force BrizeExaminer's NortonReportJunior to Ranks the Trustees Welfare of Fund ;

; .

| report on the accounts of the Charity for the year ended 28th February 2025 which are set out on page 5 to 13.

. .

Responsibilities and basis of report . As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). ; l report in respect of my examination of the charity’s accounts carried out under section 1 45 of the Act and in carrying out my examination | have followed ail the applicable Directions given by the Charity Commission under - section 145(6)(b) of the Act. : ,

independent examiner's statement . “Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. | confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. . | have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 ofthe Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the

_accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

_[ have no concerns and have come across no other maiters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Ajay Bahl BA BFP FCA Partner Wenn Townsend Chartered Accountants ; Oxford . :

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Statement of Financial Activities ; for the year ended 28th February 2025

		:		Note
					2025	2025	2025				2025	2024		2024		2024	2024
					Endowment	Unrestricted	Restricted				Total	Endowment		Unrestricted		Restricted	Total.
					Fund	Fund	Fund	—				Fund		Fund		Fund	.
					£	-£	£			,	£	£		£		£	£
		Incoming resources	.
		Income from investments Grants receivable Charitable activities		3 4.	- - -	16,000 34,883 465,222	- - -				16,000 34,883 465,222	- - es		16,146 42,079 494 369		- 22,357 -	16,146 64,436 494,369
		Total income			-	516,105	-				516,105	-		552,594		22,357	574,951
		Expenditure
		Expenditure on charitable activities		5	-	554,615	-				554,615	-		527,301	.	-	527,301
		Total expenditure		_	-	554,615	-				554,615	-		527,301		-	527,301
		Net income/(expenditure) (Losses)/gainson investment	assets		- -	(38,510) 11,705	- -				(38,510) 11,705	- -		25,293 (3,142)		22,357 -	47,650 (3,142)
		Netmovement infunds			-	(26,805)	-				(26,805)	-		22,151.		22,357	44 508
		Reconciliation offunds Totalfunds broughtforward			69,808	752,159	22,357				844,324	69,808	©	730,008		-	799,816

_	+	Totalfundscarriedforward			69,808	725,354	22,357		=.		817,519	69,808		752,159		22,357	844,324

The notes on pages 8 to 13 form part of these accounts.

Royal Air Force Brize Norton Junior Ranks Welfare Fund

Balance Sheet as at 28th February 2025

;

		Note
		;	2025	2025	2025	2025	2024
			Endowment	Unrestricted	Restricted	Total	Total
			Fund	Fund	Fund
			£	£	£	£	£
Fixed assets
Tangible assets	‘	9	-	253,196	-	253,196	256,239
Investments.		10	69,808	374,248	-	444,056	432,351
Total fixed assets			69,808	627,444	-	697,252	688,590
Current assets
Stock			-	40,650	-	10,650	15,708
Cash at bank and in hand			-	124,031	22,357	146,388	169,944
Debtors			-	-	-	-	-
Total current assets			-	134,681	22,357	157,038	185,652
Current liabilities
Creditors—duewithin one year		11	-	36,771	-	36,771	29,918
Net current assets			-	97,910	22,357	120,267	155,734
Net assets			69,808	725,354	22,357	817,519	844,324
Funds
Unrestricted Restricted funds		13	- -	725,354 -	- 22,357	725,354 22,357	752,159 22,357
Endowmentfund —permanent		12	69,808	-	-	69,808	69,808
			.
.			69,808	725,354	22,357	817,519	844,324

The accounts were approved at a meeting of the Trustees on 0. SON ©... 2025 and signed on its behalf by

Group Captain Louise Ann Henton

Trustee

The notes on pages 8 to 13 form part of these accounts.

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Cash Flow Statement as at 28th February 2025

	Notes
			2025		2024
			£		£
Netcash flowfrom operating activities	14		26,644		92,300
Cash flowfrom investing activities:
Purchase oftangible assets			(38,495)		(44,744)
Cash receipts for investment disposals			-	:	-
' Realised profit on sale of investments		,	-		-
Unrealised loss/(gain) on investments			(11,705)		3,142
Netcash flowfrom investing activities			(50,200)		(41,602)
Cash flowfrom financing activities
(Decrease)/increase in overdraft			-		-
Netcash flowfrom financing activities			-		-
Net (decrease)/increase in cash			(23,556).		50,698
Cash at 1st March 2024			169,944	119,246
Cashat28thFebruary2025			146,388	169,944

The notes on pages 8 to 13 form part of these accounts.

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Notes to the Financial Statements for the year 28th February 2025

Basis of preparation

a) The charity constitutes a public benefit entity as defined by FRS102. These accounts have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash is received or paid. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

b) The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. Significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to ail years present unless otherwise stated.

c) The Charity is a charitable institution with exemption from taxation under section 505 of the Income and
; Corporation Taxes Act 1988.
d) The Charity is exempt from the requirement to prepare a cash flow statement.
e) The presentational currency is sterling rounded to the nearest one pound. The comparative figures present information for the period 1st March 2023 to 29th February 2024.
f) The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements, on the charity. They have concluded that the budgeted income and expenditure is sufficient with the level of reserves held for the charity to’be able to continue as a going concern.
Accounting policies

a) Income recognition

All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Income from lineage is included when the charity has unconditional entitlement to the resources.

Income from charitable activities includes bar, function and gaming income. Income is received in exchange for supplying goods and services and is recognised when entitlement has occurred.

Investments income is earned through holding assets for investment purposes such as bank deposits, it includes interest. The income is recognised as the charity's right to receive payment is established.

b) Allocation of costs to resources expended

Specific items of expenditure are attributed to the appropriate category, of;

Cost of generating donations and legacies. These are the costs associated with generating voluntary incoming resources from all sources other than undertaking charitable activities.
- Charitable activities. These are the resources applied by the Charity in undertaking its work to meet its charitable objectives.

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Notes to the Financial Statements

for the year 28th February 2025

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b) Allocation of costs to resources expended (continued) - Governance costs. These are costs that relate to the general running of the charity. The governance costs of the Charity are primarily associated with constitutional and statutory requirements. These are included under charitable costs.
Support costs such as postage and stationery have been allocated to activity cost categories on a consistent basis.

c) Fund accounting

The Charity mainly holds unrestricted funds which can be used in accordance with the charitable objectives of the charity and at the discretion of the trustees.

Endowment funds represent those assets which must be held permanently by the charity, principally the RAF Central Fund. Income arising on this fund can be used in accordance with the objectives of the charity and is included as unrestricted income. Any capital gains or losses form part of the fund.

d) No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
e) For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met and it is probable that they will be fulfilled.

f) Tangible fixed assets are stated at cost or deemed cost or valuation less accumulated depreciation and accumulated impairment losses. Items are capitalised if they can be used for more than a year and cost of at least £1,000. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated resided value, of each asset on a systematic basis over its expected useful economic life as follows:

Capital assets - Nil Fixtures, fittings and equipment - 20% straight line Property improvement costs - 6.66% straight line

g) Investments are recognised initially at their value which is normally the transaction price excluding transaction costs. Subsequently they are measured at fair value with changes recognised in net gains/(losses) on investments in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
h) Stocks are stated at the lower of cost and estimated selling price. Provision is made for damaged, obsolete and stock moving items where appropriate.

i) Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairments are recognised in expenditure.

}) The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and expected level of
. income and expenditure for 12 months from the approval date of the accounts.

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Notes to the Financial Statements for the year 28th February 2025

pes eeseseesseresseeee CONtINUCM

3.		Grants receivable	—
			Unrestricted Fund	Restricted Fund		Total 2025
			2025	2025
			£	£	£	£
		Other donations	34,883	-	34,883	64,436
			34,883	-	34,883	64,436
4.		Incoming resources	from charitable activities
				Unrestricted
				Fund 2025	Total 2025	Total 2024
				£	£	£
		Astra Bowl		148,096	148,096	158,902
	’	Swimming pool Spotlight club income Garage Families’ club income		243,051 1,912 15,802 26,430	243,051 1,912 15,802 26,430	272,668 352 11,248 20,210
		Sports bar income Other		8,296 21,635	8,296 21,635	13,700 17,289
				465,222	465,222	494,369

Expenditure on Charitable activities The Charity undertook the following charitable activities:

	Unrestricted
	Fund	_ Total	Total
	2025	2025	2024
	£	£	£
Governance costs (see note 6) Astra Bowl	2,940 179,507	2,940 179,507	2,450 181,981
Swimming pool Spotlight club expenditure Minibus and CamperVan	191,491 6,495 16,554	191,491 6,495 16,554	166,794 2,/33 17,980
Sports grant Families’ club expenditure Sports bar expenditure Other	1,800 26,076 14,253 115,499	1,800 26,076 14,253 115,499	1,800 23,873 10,438 119,252
	554,615	554,615	527,301

)

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Notes to the Financial Statements

for the year 28th February 2025

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‘Governance	costs	:
			Unrestricted
			Fund		Total	Total
			2025		2025	2024
			£		£	£
Independent	review	ofaccounts	2,940		2,940	2,450
			2,940	.	2,940	2,450

Governance costs are included under charitable activities.

7, Analysis of employee costs

No employees are employed directly by the charity.

8. Trustees and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration or expenses during the year (2024: ENil).

The total amount of employee benefit received by key management personnel is Enil (2024: Enil). The trustees are considered to be the key management personnel.

There were no high paid staff in the current or previous years.

9. Tangible fixed assets

			Fixtures, Fittings
			& Equipment	Total
			£	£
	Cost
	As at 1st March 2024 Additions Disposal		475,097 38,495 (14,472)	475,097 38,495 (14,472)
	As at28th February 2025		499,120	499,120
	Accumulated depreciation
.	As at 1st March 2024		218,858	218,858
	Charge forthe period		34,514	34,514
	Depreciation eliminated on disposal		(7,448)	(7,448)
	As at 28th February 2025		245,924	245,924
	Net book value	;
	As at 28th February 2025		253,196	253,196
	Asat28thFebruary2024		256,239	256,239

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Notesfor theto yearthe Financial28th FebruaryStatements2025 ,

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10. Fixed asset investments

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10.	Fixed asset investments
		2025	2024
		£	£
	Marketvalue at beginning ofyear	432,351	435,493
	Less: disposals at opening market value Add/(deduct): Net gains/(loss) on revaluation	- 11,705	- (3,142)
	Marketvaiue at end ofyear	444,056	432,351
	Listed investments at fair value:
		2025	2024
		£	£
	Property fund	9,482	8,557
	Japan Far East Fund UK Fixed Interest	16,012 117,639	20,745 108,379
	Structured Return	43,876	44,004
	North American Equities	34,729	29,713
	Hedge Funds International and Thematic	30,094 49,810	39,479 52,507
	UK Equities Cash	66,105 35,597	66,707 4,499
	International Fixed Interest	40,712	48,528
	European equities	-	9,233
	Marketvalue at end ofyear	444,056	432,351
11.	Creditors due within one year
		2025	2024
		£	£
	Trade creditors	4,858	6,894
	Othertaxes and social security	27,633	18,385
	Accruals and deferred income	3,680	3,435
	Other creditors	600	1,204
		36,771	29,918

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Royal Air Force Brize Norton Junior Ranks Welfare Fund

Notes to the Financial Statements

for the year 28th February 2025

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12. Permanent endowment fund

Permanent endowment fund
	;				Transfers
		At	ist March	Unrealised	from unrestricted	At28th February
		-	2024 £	loss £	reserves £	2025 £
RAF Central Fund			69,808	-	-	69,808
			69,808	-	-	69,808

During 2015 the RAF Central Fund reclassified the sums advanced to a permanent endowment grant. There is no power to convert the capital provided into income and the fund is to be held indefinitely. The endowment fund must be invested and the investment value must be maintained at a value no less than the endowed grant monies, subject to market value losses and deflation. The income generated from the invested funds must be used to support appropriate charitable activities of the Fund.

13. Restricted funds

					At 28th
	.	At 1st March 2024 £	Income £	Expenditure £	February 2025 £
Aviators improvements fund		22,357	-	-	22,357
		22,357	-	-	22,357
Reconciliation ofnetmovement in funds	to	net cash flowfrom	from operating	activities:
				2025	2024
		‘		£	£
Net movement in funds Add back depreciation charge				(26,805) 34,514	44,508 30,238
Add back profit/(loss) on disposal				7,024	-
(Increase)/decrease in stock				5,058	14,451
Increase/(decrease) in creditors				6,853	3,103
Increase in debtors				-	-
Netcashflowfromoperatingactivities				26,644	92,300

14, Reconciliation of net movement in funds to net cash flow from operating activities:

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