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ROYAL MARINES VOLUNTEER CADET CORPS (PORTSMOUTH)

ANNUAL REPORT AND FINANCIAL STATEMENTS

For Period

1 April 2022 to 31 March 2023

Registered Charity No. 1146419

Trustees’ Annual Report and Comments

Royal Marines Volunteer Cadet Corps (Portsmouth)

Charity Registered No:	1146419
Covering the Accounting Year:	1 April 2021 to	31 March 2023
Address:	HMS Excellent
	Whale Island
	Portsmouth.
Governing Document:	VCC Portsmouth for the RM Constitution
Objects:	The object of the Corps is to help and educate children between
	the ages of 9 and 18 years through their leisure activities to
	develop their physical, mental, and social capacities that they
	may grow to full maturity as adults and members of society and
	their conditions of life may be improved employing the
	traditions and practices of the Royal Marines to achieve this.
Trustees:	CSgt (VCC) Stuart Hinchliffe
	Anita Meldrum
	James Meldrum
	Samuel Moody
	Gail Jaqueline Clayton
	Kevin Morrison
Trustee selection method:	Appointed by the RMC (VCC) by selection and
	recommendation.
Bankers:	Lloyds Bank
	Palmerston Road
	Southsea.
	Portsmouth PO5 3QH
Independent Examiner:	M L ButcherFMAAT
	5 Nursery Road
	Havant
	Hants PO9 3BG
Activities and achievements:	A full programme of activities was completed with the aim of
	developing the children’s physical, mental and social capacities.
Financial Review:	The fund was worth £27.3K an increase of £8.7K compared to
	this time last year. This figure included £11.2K of property and
	stock. Bank assets of £22.3K more than covered the £6K
	liabilities. The main reason for the increase:

Profit on the minibus sale of £2.5K.
• Summer Camp excess of £1.3K income over expenditure.
Subscription and joining fee income exceeding running costs and subsidies by £4.4K.

Investment Selection Policy: The trustees do not believe that it is appropriate to hold investments.

Financial Reserves Policy: The trustees consider the level of reserves to be appropriate to the charity’s needs. In doing so the aim is to ensure that the charity will be able to fulfil its charitable objectives even if there is a temporary shortfall in income and unexpected expenditure. The fund can reserve £10K from the current account based on last year’s brought forward figure. The trustees will endeavour not to set aside funds unnecessarily. Grant Policy: Grants may be made to expeditions or individuals for a wide range of sporting and other leisure activities. Risk Assessment: The Trustees review the major risks to which the charity is exposed through the production of an annual Business Plan. Systems have been established to manage the risks and it is believed that the reserves policy will provide sufficient resources in the event of adverse conditions. Public Benefit Statement: Public benefit is provided by the development of the physical, mental, and social capacities of young people through their activities as cadets . We confirm that we have paid due regard to the Charity Commission of England and Wales’s guidance on public benefit when deciding what activities, the charity should undertake.

Declaration:

I declare, in my capacity as a Charity Trustee, that I have approved the above report.

Signature Signed on Original Name Colour Sergeant (VCC) Stuart Hinchliffe Appointment Commanding Officer Date 30 September 2023

Independent Examiner’s Report to the Trustees of the Royal Marines Volunteer Cadet Corps (Portsmouth) Fund. Registered Charity No 1146419

I report on the accounts of the Charity for the year ended 31 March 2023 which are set out in pages 1 to 2 and accompanying notes.

Responsibilities and basis report

As the charity’s trustee you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”) and that an independent examination is needed.

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
The accounts did not accord with the accounting records.

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

Signed on Original

M L Butcher FMAAT 5 Nursery Road Havant Hants PO9 3BG

30 September 2023