CHARITY REGISTRATION NUMBER: 1136166 Pilgrim Bandits Unaudited Financial Statements 31 March 2025 BURGESS HODGSON LIMITED Camburgh House 27 New Dover Road Canterbury Kent CT13DN Pilgrim Bandits Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements Pilgrim Bandits Trustees, Annual Report Year ended 31 March 2025 The trustees presenl their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and admlnistrative detalls Registered charity name Pilgrim Bandits Charity registration number 1138166 Principal offiGe Unit 2A Queensway Ind Estate New Milton Hampshire BH25 5NN The trustees Mr A Knights Mr K Harman MrA Elcock Mr T Arnett Independent examiner Robert Field FCA CTA Structure, governance and management Governlng document The charity is controlled by its governing document, deed of trust and constitutes an unincorporated charity. Recruitment and appointment of new trustees The managemenl of the Chartly is the responsibillty of the Trustees who are elected and co-opted under the terms of the Trust deed. Key Management The Chief Executive Officer of the Charity is Mr Matthew Hellyer. He is the 1000fi shareholder of the Pilgrims Bandils Group Ltd (which is currently in the process of being struck off the Companies Register). Other Comments All former trustees and the fomer CEO have now resigned. This led to late filing of accounts last year and temporary banking being arranged which was resolved during the financial year. The Charities Commission has been infomied and further progress has made over the last year to remedy the issues. Pilgrim Bandits Trustees, Annual Report fcontinued) Year ended 31 March 2025 Objectives and a¢tivltTes Policies and objectives The Charity's objective and aim is to provide support to injured service men and women, inGluding those in the emergency services. In setting objeclives and planning for activities, the Truslees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit-. running a charity (PB2>'. Strategies for achieving objectives Public events Expeditions Public fundraising Support lo NHS, Police and Fire service during the Pandemic Online auctions Activities undertaken to achieve objectives Pilgrim Bandits know that adversity, challenges and a¢hievements serve to strengthen the human spirit, but for some of those we support the very basic human tasks are hard to perform. We endeavour to instill self-belief and put initiatives in front of them that not only test them physically and mentally but paves the way for a real transition into civilian life. We raise funds through the public and corporate domains which help action the activities, transition and employment of our beneficiaries. Main activities undertaken to further the Charity's purposes for public benefit The charity has partnered up with other community groups ensuring we share a common interest in the welfare of military and blue light veterans, helping and supporting each other through shared assets and joint events. Achievements and performance The charity has completed a number of events and challenges to meet with its statement, mission and goal. The charity continues to grow and achieve success. Of note in the past year has been multiple events such as cycle to Arnhem, Cycle to each Rugby ground in UK, a number of events and fund raising activities and other support to individual veterans and their families. Pilgrim Bandits Trustees, Annual Report Icontlnued) Year ended 31 March 2025 Financial review Reserrfes policy The Charity operates a reserves policy in order to protect itself against drops in income and to take advantage of new opportunities. The charity's reserves can be spent on any of its aims. This reserves policy sets out.. a) How much the charily needs to hold in reseNe and why bl How much and when the charity's reserves can be spent c) How often the reseNes policy will be reviewed Charities can set aside enough money to meet a potential need, such as an unexpected drop in income. If setting aside money for a specific purpose, such as building works, a charity should make it clear that this is separate from the charity's general reseNes. Components The policy allocates money from unrestricted fund balances, which are not invested in fixed assets, to several designated funds. These funds are.. - 1. Continuity Fund - £20,000 This fund is to be used to bridge any possible delays in receiving promised grants or managing payment in arrears contracts. This has been defined as a minimum of a three months budgeted trading activity. 2. Restructuring Fund - £10,000 This fund is to be used to cover essential tradinglactivities whilst sourcing income to a maximum of 6 months budgeted trading activity. 3. Cyclical Maintenance Fund - £5,000 This fund is to be used for major items of maintenance of the fabric of the buildings such as redecorating the interior and exteriors. 4. Dissolution Fund - 3 months minimal rLtnning costs £5,000 and residua5 salaries £10,000 This fLFnd provides for the costs of dissolution should the charity be unable to continue. It is only to be used in the event of the Trustees, deciding the charity should cease to exist. It will be used to pay notice periods, redundancies and the expenses of running the charity in the event of closure. Total minimum requirement therefore being £50,000. As at the year end the Charity holds unrestricted reserves of £196,896 of which £192,503 is held in cash assets. Due to the nature of the organisation and the regular review of the budget, this policy should be reviewed on an annual basis to ensure.. the continuity element matches changes to the annual budget the restructuring element matches the requirements of trading activities the cyclical maintenance e5ement moves fotward in at least an inflationary manner the dissolution element matches the requirements of the staffing levels iv) Should the budget be reduced due to the end of projects or other such occurrences, then the reduction Pilgrim Bandits Trustees. Annual Report {contlnued) Year ended 31 March 2025 of reserves should be planned over a minimum of five years. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. During this reporting year the Charity's main bank was held and operated through a temporary company account by the name of Pilgrim Bandits Charity within Pilgrim Bandits Group Ltd. This was due to the failure of the former Trustees to handover the charity bank account which was the basis of dispute ending with the amicable dismissal of the former Trustees and officers of the charity. The temporary online bank used in the year was in line with charity commission guidelines with oversight of all trustees to monitor and enforce compliance. This issue was resolved by the year end with the charity holding a charity bank account with a high street bank. The tnjstees, annual report was approved on ..3.1.1031.2026..... and signed on behalf of the board of trustees by: Adam Elcock IMK 31, 2028 16..21..52 GMT+fl Mr A Elcock Trustee Pilgrim Bandits Independent Examiner's Report to the Trustees of Pilgrim Bandits Year ended 31 March 2025 I report to the trustees on my examination of Ihe financial statements of Pilgrim Bandits ('the charity.) for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financia5 stalements in accordance with the requirements of the Charities Act 2011 {'the AGt'). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(51(b) of the Act. Independent examiner's statement - matter of concern identified Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. I have completed my examination. From the work undertaken the following items were noted as areas of concern although it should be noted that the charity has been making huge inroads to addressing these. Incoming resources could not be reviewed sufficiently lo detemine completeness of income. Not all items of expenditure had supporting papework The charity's fixed asset register does not allocate values to each asset item I confirm that no other matters have come to my attention in connection with my 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 of the Act., or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements Goncerning the form and content of accounts set out in the Char(ties (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is nol a matter considered as part of an independent examination. I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Robert Field FCA CTA Independent Examiner i Z026 Camburgh House 27 New Dover Road Canlerbury Kent CT13DN Pilgrim Bandits Statement of Financial Activities Year ended 31 March 2025 2025 Unrestricted funds Total funds Total funds 2024 Note Income and endowments Donations and legacies Other trading activities Total income 257,903 6,310 257,903 6,310 176,652 12,223 264,213 264,213 188,875 Expenditure Expenditure on raising funds.. Costs of other trading activities Expenditure on charitsble activities Total expenditure 5,596 311,907 5,598 311,907 5,909 239,781 317,503 317,503 245,690 Net expenditure and net movement in funds (53,290) (53,290) (56,815) ReconGlllation of funds Total funds brought forward Total funds carried forward 246,587 193,297 246,587 193,297 303,402 246,687 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 13 fom7 part of these financlal stat8ments. Pilgrim Bandits Statement of Financial Position 31 March 2025 2025 2024 Note Flxed assets Tangible fixed assets 13 17,538 16,549 Current assets Debtors Cash at bank and in hand 14 7,522 187,449 198,917 41,989 194,971 240,906 Credltors: amounts falllng due wlthln one year Net current assets 15 19,212 175,759 10,868 230,038 Total assets less current Ilabilities 193,297 246,587 Net assets 193,297 246,587 Funds of the charlty Unrestricted funds 193,297 193,297 246,587 Total charity funds 16 246.587 These financial statements were approved by the board of Irustees and authorised for issue on .3110312Q26.. and are signed on behalf of the board by.. Adam Elcock Imar 31. 2026 16..2t..52 GMT*11 Mr A Elcock Trustee The notes on pages 8 to 13 forni part of these flnancial statements. Pilgrim Bandits Notes to the Financial Statements Year ended 31 March 2025 General informatlon The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Unil 2A, Queensway Ind Estate, Stem Lane, New Milton, BH25 5NN, Hants. Statement of compliance These financial slalemenls have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparatTon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investmenl properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currenGy of the entity. Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restriGtions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. reslricled income funds or endowment funds. Pilgrim Bandits Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (¢ontlnuedJ Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity- it is probable that the economic benefits associated with the transaction will flow lo the charity and Ihe amount can be reliably measured. The following specific policies are applied to particular calegories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlemenl is established. income from donated goods is measured at the fair value of the goods unSess this is impractical to measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the ontracted service. This is classified as unrestricted funds unless there is a conlraclual requirement for it to be spent on a pariicular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of it5 beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. olher expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs atlributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, juslifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulaled impairment losses. Pilgrim Bandits Notes to the Financial Statements {GontinuedJ Year ended 31 March 2025 Accounting policies (continued) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value. over the useful economic life of that asset as follows.. Plant and machinery Fixtures and fittings Motor vehicles Equipment 250/0 reducing balance 25 /0 reducing balance 25 % reducing balance 330￿ straight line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting dale, with Ihe recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the assel is impaired accordingly. Prior impairmenls are also reviewed for possible reversal at each reporting date. Financial instruments Financial liabilities and equity instruments are classified according lo the substance of the contractual arrangements entered into. Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently. they are measured at amortised cost using the effective interest rale method. less impairment. If an arrangement constitutes a finance transaction it is measured at present value. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations 257,903 257,903 176,652 176,652 other trading activities UnrestriGled Total Funds Unrestricted Tolal Funds Funds 2025 Funds 2024 Trading income 6,310 6,310 12,223 12,223 Costs of other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of other trading activities 5,596 5,596 5,909 5,909 10- Pilgrim Bandits Notes to the Financial Statements (continuedj Year ended 31 March 2025 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Charitable activities Support costs 252,395 55,446 252,395 55,446 190.143 49,638 190,143 49,638 307,841 307,841 239,781 239,781 Expenditure on charitable activities by activity type Activities undertaken directly Support Costs Total funds 2025 Total fund 2024 Charitable activities Governance costs 252,395 52,060 3,386 304,455 3,386 236,756 3,025 252,395 55,446 307,841 239,781 Net expenditure Net expenditure is staled after chargingl(crediting)'. 2025 2024 Depreciation of tangible fi'xed assets 4,500 5,607 10. Independent examination fees 2025 2024 Fees payable to the independent examiner for: Independent examination of the financial statements 3,000 3,000 11. Staff costs The average head count of employees during the year was Nil (2024.. Nil)- No employee re￿iVed employee benefits of more than £60,000 during the year {2024- Nil). 12. Trustee remuneration and expenses There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the period ended 31 March 2024. Trustees, expenses There were no expenses reimbursed made to a trustee of a charity. Key management expenses Payments tolalling £nil (2024.. £6,174) were made to key management of the charity for reimbursed expenses of trips paid for, advertisement expenses and other expense lines. They also invoiced the charity £30,185 (2024: £33,605) for their services in the year. 11 Pilgrim Bandits Notes to the Financial Statements fcontlnued) Year ended 31 March 2025 13. Tanglble fixed assets Plant and Fixtures and machinery fittings Motor vehicles Equipment Total Cost At 1 April 2024 Additions 21,690 46,786 5,382 4,549 73,858 5,489 940 At 31 March 2025 21,890 940 46,786 9.931 79,347 Depreclatlon At 1 April 2024 Charge for the year At 31 March 2025 16,317 1,343 17,660 35,753 2,758 38,511 5,239 203 57,309 4,500 196 5,442 61,809 Carrying arnount At 31 March 2025 4,030 744 8,275 4,489 17.538 At 31 March 2024 5,373 11,033 143 16,549 14. Debtors 2025 2024 Prepayments and accrued income Other debtors 6,373 1,149 4,000 194,917 7,522 198,917 15. Credltors: amounts falllng due withln one year 2025 2024 Trade creditors Accruals and deferred income 15,189 4.023 3,245 7,623 19,212 10,868 16. Analysis of charitable funds Unrestrlcted funds At 31 March 202 At 1 April 2024 Income Expenditure General funds 246,587 264,213 (317,503) 193,297 At 31 March 202 At 1 April 2023 Income Expenditure General funds 303,402 188,875 (245,690) 246,587 12- Pilgrim Bandits Notes to the Financial Statements fcontlnuedj Year ended 31 March 2025 17. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Tangible fixed assets Current assets Creditors less than 1 year Net assets 17,538 194,971 (19,212) 193.297 17,538 194,971 119,212) 193,297 Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 16,549 240,906 (10,868) 246.587 16,549 240,906 {10,868) 246,587 18. Related parties Mr Matthew Hellyer is the 100% shareholder of the company Pilgrim Bandits Group Limited. During the year the charity had been using a bank account in the company's name to receive funds and make payments. This arrangement came to an end during the year when the Charity opened its own bank account. Pilgrim Bandits Group Limited is currently in the process of being struck off the Companies Register. 13- Full accounts Final Audit Report 2026-03-31 Created: 2026-03-02 8y-. Burgess Hodoson lesion@buioesshodoson.w.ukl Slalus.. &gned Transaction ID.. CBJCHBCAABAAUGd-PLls9oSuvH74250uzGVtwf89YgUG "Full accounts" History Document created by Burgess Hodgson (esign@burgesshodgson.co.uk) 2026-03-02- 3'.39'.35 PM GMT- IP address.. 80.88.222.146 Document emailed to jww@burgesshodgson.co.uk for signature 2026-03-02- 3.'39.'40 PM GMT Email viewed by jww@burgosshodgson.co.uk 2026-03-12- 2'.42'.48 PM GMT- IP addiess.. 104.47.11.62 * New document URL requested by jww@burgesshodgson.co.uk 2026-03-12- 2'.43'.17 PM GMT- IP address.. 80.88.222.146 Ngw documenl URL requested by1￿@bUrgesshOdgSon.cO.uk 2026-03-31- 3.'06'.30 PM GMT- IP address.. 149.107.27.13 Email viewed by jww@burgesshodgson.co.uk 2026-03-31- 3'.07'.01 PM GMT- IP address.. 149.107.27.13 D, New document URL requested by jww@burgesshodgson.co.uk 2028-03-31- 3'.10'.33 PM GMT- IP address". 80.88.222.146 & Signer jww@burgesshodgson.co.uk entered name at signing as Adam Elcock 2026-03-31 3..21..50 PM GMT- IP address.. 194.35.235.17 Document e-signed by Adam Elcock O'ww@burgesshodgson.co.uk) Signature Date.. 2026-03-31 - 3..21.'52 PM GMT- Tlme Source-. server- IP address.. 194.35.235.17 Agreement completed. 2026-03-31- 3'.21'.52 PM GMT Adobe Acrobat Slgn