## **THE BOYS’ BRIGADE – LONDON DISTRICT** FINANCIAL STATEMENTS -YEAR ENDED 31 AUGUST 2022 Company Registration Number 7828055 Charity Number 1144648 Registered Office Felden Lodge, Felden Lane, Hemel Hempstead, Hertfordshire HP1 0BL Trustees / Directors Matthew Smith (President) – appointed 1[st] September 2022 Justin Nevison-Andrews (Secretary) Stephen Mann (Treasurer) Kelechi Adebayo Adeosun Aofolaju (VicePresident) James Powell (Vice-President) appointed 01/09/21 James Abbott Phillip Norman appointed 01/09/21 Daniel Cross appointed 01/09/21 Andrew Hill appointed 01/09/21 Chris Norman - appointed 01/09/22 Ian Worsfold – appointed 01/09/22 London Secretary / Company Secretary London Secretary / Company Secretary Justin Nevison Andrews Bankers CAF BANK Ltd 25Kings Hill Avenue Kings Hill, West Malling, Kent ME19 4JQ Investment Advisors Rathbones Investment Management 1 Curzon Street,London W1J 5FB Independent Examiner Nigel Porter 1 THE BOYS’ BRIGADE – LONDON DISTRICT INDEX to the FINANCIAL STATEMENTS Year Ended 31st August 2022 |CONTENTS|PAGE| |---|---| |Report of the Trustees|3-5| |Independent Examiners report|6-7| |Statement of Financial Activities|8| |Balance Sheet|9| |Notes to the Financial Statements|10-11| 2 ## **REPORT OF THE TRUSTEES** ## **THE BOYS’ BRIGADE – LONDON DISTRICT** The Trustees present their report and the financial statements for the year ended 31st August 2022. ## **Status** The Charity is constituted as a private company limited by guarantee and is governed by a memorandum and articles of association. ## **Trustees** The Trustees named on the front sheet have served during the year. Appointment of trustees to fill casual vacancies is governed by the Memorandum and Articles of Association. The Trustees are also directors for the purposes of the Companies Act. ## **Trustees responsibilities and public benefit** The Trustees are charged with the management and supervision of the affairs of the Charity: - to bring an independent judgement to bear on issues of strategy, performance and resources; and observe the highest standards of integrity, confidentiality and objectivity; - to act in good faith in the interests of The Boys' Brigade - London District and its members and in the public interest, exercise due care and diligence, and contribute expertise and experience to the work of the Charity; - to promote the reputation and standing of The Boys' Brigade in London; - to administer the organisation and all its assets in the interest of current, potential, and future beneficiaries. The Trustees are of the opinion that they have complied with their obligations to have regard to the public benefit guidance as published by the Charity Commission. ## **Objectives, Activities and Public Benefit** The Brigade's principal objective continues to be the advancement of Christ's kingdom among boys and the promotion of habits of obedience, reverence, discipline, self-respect and all that tends towards a true Christian manliness. The Charity has undertaken a number of activities in pursuit of its objectives. These have included: - arranging a Fun Day at the start of the session for Juniors and Anchors together with Paintball for Company and Seniors - ▪ distributing banners to support companies with recruitment - working with YOU London to arrange events for Seniors - running a very successful Life to the Max event at Felden Lodge. - Making grants to enable young people to attend camps - Facilitating grants to every company in London from Steadfast Association - Running the Jack Petchey Award Scheme - employing staff to undertake administration and development activities, - working in partnership with the National Brigade providing support to existing members and aiming to start new BB work within Greater London. The Trustees have paid due regard to the Charity Commission guidance on public benefit in determining what activities the Charity should undertake. ## **Results** Details of the Charity's results for the year are shown in the financial statements. ## **Trustees' responsibilities for the financial statements** The law requires us the Trustees to prepare the financial statements for each financial year which gives a true and fair view of the state of affairs of the Charity and of its surplus or deficit for that period. In preparing the financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently through the years; - - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures that should be disclosed and explained in the financial statements; 3 - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records, for safeguarding the assets of the company and for taking reasonable steps for the prevention and detection of fraud and other irregularities should they exist. ## **Financial Commitments** The Charity’s policy of achieving a balanced budget without the need to utilise reserves is being actively pursued. The District Treasurer continues to look at all aspects of the Charity’s finances to achieve this. The Charity is grateful for the financial support of all donors, but, in particular, the 100 Group of supporters. ## **Investment Policy and Performance** The Trustees have agreed that the investment fund be managed by investment managers. The present investment policy is to balance the risk between income and capital growth subject to the risk normally associated with a balanced approach to portfolio management. There is a further proviso that insofar as it is reasonably practicable investments that conflict with The Charity’s beliefs and objectives will be excluded. The fund is invested between growth-orientated securities and investment in income bearing securities. Regular reports are provided by the fund manager detailing the progress and relative performance of the fund. ## **Free Reserves** Free reserves available for the use by the Charity are deemed to be those that are readily realisable, less funds whose uses are restricted or designated for particular purposes. The calculation thus excludes property and other fixed assets which will continue to be used in the day-to-day running of the District. As a matter of policy, each year the Trustees review the value of the reserves required to be held in investments, cash and cash equivalents not restricted for any particular purpose. The Trustees consider the Charity's exposure to the risk of any significant loss of income and to the risk of unforeseen expenditure which cannot be mitigated by Trustee action and the degree of risk ascribed to each such event is assessed. They also review the need for income from investments to maintain the day to day work of the district without eroding Capital. With income, a major risk is that of a decline in donations and any economic/stock market downturn or other factors leading to a decline in legacy values and reduced income donations. Budgetary and financial controls continue to be effective to reduce the risk of over-expenditure and to mitigate the effect of a drop in income in any one financial year. It is the Trustee's policy not to embark upon major initiatives without committed funding. The Trustees conduct an annual review of the level of reserves when setting the budget and considers that they are adequate given the general economic conditions. The Charity’s financial position and performance has been outlined in the financial review above. The Trustees have assessed the Charity’s income, expenditure, cashflow and reserves position and its ability to withstand a material decline in incoming resources. The Trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the accounts. The Trustees have reviewed the Charity’s reserves and transferred £73,923 to a specific reserve to fund the Development work currently ongoing for a further three years. The balance of such reserves have been transferred to the General fund, as has an amount of £34,060 which is not restricted. The Trustees will continue to review the allocation of reserves and make changes as appropriate. ## **Risk Management.** The Trustees actively review the major risks which the Charity faces on a regular basis and believe that by maintaining reserves at current levels, combined with an annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks. ## **Fixed Assets** Details of any changes in the fixed assets are shown on the attached accounts. 4 ## **Independent Examiner** Nigel Porter has been appointed independent examiner. This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 applicable to small companies and the FRS 102 By Order of the Trustees Justin Nevison-Andrews London/Company Secretary & Trustee 19th November 2022 5 CHARITY COMMISSION FOR E￿￿ND AND WALES Independent examlnerfs report on the accounts Section A Independent Examlner s Report Th6 &)ys BrlgwJe_ London Dlstrka 31" A￿Ju￿ 2022 Charlty no (11 any) 1144648 Set out on pa9eg Tnffjf) S)r th8 y•ar ￿¥jed 31" A4ffjWt XI22. As trusleos. are resNNtsible for pr•parakn rf the a¢xounts In ￿lih the reryarwnents ol the Chanlles Act 2011 I7￿ Acr). Ra5ponsibillll•s and ba*ls of report I reFKKt in rospe¢t ol my ex3mlr0tffi of the Trusfs acc(￿lts camed crtrt Secti￿ 145 01 Ihe 2011 Acl and m cwryiThJ (Mrt my exarninatKm, I havo frA104¥ed all the arw'cabk Lh'rBdions 9lven by the Chanty ComNwss er s￿11)n 145(5Xb) of th8 A¢ Ind•p•nd•nt I have ctynpknted rny ax¥ninalw)n. I confvm ljwt no ￿￿'al fftBtte￿ h• •xamln•rfs slatem•nl Notes
**Current Assets**
Investments
Debtors
Receipts in advance
Cash at bank and on deposit
Creditors
Payments in advance
Net Current assets
**Net assets**
**Income funds and Reserve**
Restricted Funds
Unrestricted funds and reserves
Development fund
5
General reserve
Other designated funds
5
Total Funds|£
12597
12597
0
0||**2022**
£
401,655
414252
414252
54592
359660
414252|£
0
0
38851
38851
0
0|**2021**
£
473288
511689| |---|---|---|---|---|---| ||0|||0|| ||100000
259,660
0|||26077
96154
292440|| ||||||| ||||||511689| ||||||97197
415714| ||||||511689| These accounts were approved by the Trustees at their meeting of 19th November 2022 and were signed on there behalf by:- THE ACCOUNTS FOR THE YEAR ENDED 31 August Justin-Nevison Andrews Stephen Mann 1. Accounting Policies Secretary/Trustee Treasurer/Trustee 9 ## a) Convention The accounts have been prepared under the historical cost convention, modified to reflect the revaluation of investment fixed assets at the balance sheet date, the Statement of Recommended Practice 'Accounting and Reporting by Charities', which was revised by the Charity Commissioners in 2005, the Districts governing documents, the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The accounts disclose the operations of The Boys' Brigade London District, but do not consolidate the activities and net assets of the independently constituted Battalions and Companies. ## b) Annual Capitation Contributions Contributions from companies are recognised on a cash received basis. The capitation year runs from 1 September to 31 August, ## c) Donations, Gifts and Legacies Donations, Gifts and Legacies are all recognised on a receivable basis. ## d) Resources Expended All resources expended, including irrecoverable VAT, are accounted for on an accruals basis ## e) Taxation As a registered charity, the Brigade is exempt from corporation tax on income and gains which are applied for charitable purposes. No provision is therefore made for deferred tax. ## f) Fixed Assets Tangible and intangible fixed assets are stated at cost. Donations and legacies received to enable the acquisition of such assets are recognised in the statement of financial activities. These, unless expended within the financial year in which received, are credited to a fund until such time as the appropriate asset has been acquired, after which an appropriate transfer is made to the general fund. ## g) Investments Investments are stated at open market value at the balance sheet date, with unrealised gains and losses being recognised in the appropriate funds. Investment income is brought into account on a receivable basis. ## h) Fund Accounting Funds are accounted for in accordance with the applications stated in the relevant notes for endowment, restricted and designated funds. The District employed one member of staff during the financial year. 10 ## **Notes to the accounts** ## Note 1 **Grants receivable** Restricted Funds Jack Petchey 15987 ## Note 2 **Investment Income** dividends General Fund Restricted Fund 10468 ## Note 3 **Administration Expenses** |**General Fund Transactions**|**2021/22**|**2020/21**| |---|---|---| |Staff Costs|29,733|21,205| |Training|0|976| |Newsletter|988|0| |Events and Competitions|20,764|148| |Equipment|762|1,174| |Insurance|518|0| |Banners|2,138|0| |Administration costs|446|226| |Governance Costs|553|9| |Telephone|330|277| |Trophies|186|0| |Advertising|171|0| |Banking|93|0| ||**56,682**|**24,315**| |Analysed in the statement of financial services as||| |Cost of Generating Funds|2,973|2,119| |Management and Delivery of Charity|53,709|30,951| ||**56,682**|**32,170**| 11 ## **Note 4** |**Funds**
**General**
**Restricted**
6th London
72 London
Bill Smoker
Equipment
Training
William Day
Camp
Central Activities
London Steadfast
Jack Petchey
**Designated**
**Development**
Croft
Whitefoot Legacy
Butler legacy
F Hepher
London Dedicated
Events
**Other designated**
**Total Reserves**|**01/09/2021 Income Expenses Transfer**
**Investments 31/08/2022**| |---|---| ||96,154
39,242
56,682
252,578
(71,633)
259,660
163
163
1,504
1,504
10,000
10,000
2,445
2,445
3,332
3,332
38,999
34,060
4,939
16,140
960
15,180
8,349
8,349
7,203
6,787
417
16,265
15,987
23,987
8,265
97,197
23,190
31,734
34,060
54,593
26,077
73923
100,000
15,818
15818
0
9,602
9602
0
1,162
1162
0
104,400
104400
0
154,459
154459
0
7,000
7000
0
292,440
0
0
292,441
0| ||**511,868**
**62,432**
**88,416**
**0**
**(71,633)**
**414,252**| 12