ROYAL MARINES VOLUNTEER CADET CORPS (PORTSMOUTH)
ANNUAL REPORT AND FINANCIAL STATEMENTS
For Period
1 April 2023 to 31 March 2024
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 2023 to | 31 March 2024 |
| 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 capabilities that they | ||
| may grow to full maturity as adults and members of society. | ||
| Trustees: | CSgt (VCC) Samuel Moody (Started Sep 24) | |
| CSgt (VCC) Stuart Hinchliffe (Left Sep 24) | ||
| Anita Meldrum | ||
| James Meldrum | ||
| Gail Jaqueline Clayton (Leaving 6 Jun 24) | ||
| Kevin Morrison (Leaving 6 Jun 24) | ||
| 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 cadets’ physical, mental and social capacities. | ||
| Financial Review: | The fund was worth £35K, which was an increase of £7.7K | |
| compared to last year. This figure included £12.6K of property | ||
| and stock. Bank assets of £25.5K more than covered the £3.2K | ||
| liabilities. | ||
| 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. Therefore, the fund has reserves of £10K held in | ||
| the bank accounts. 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 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) Sam Moody Appointment Commanding Officer Date 15 March 2025
ROYAL MARINES VOLUNTEER CADET CORPS (PORTSMOUTH)
Charity Registration No 1146419
STATEMENT OF ASSETS AND LIABILITIES
31-Mar-24
ASSETS
| Fixed Assets Property Current Accounts Bank Accounts Instant Access Savings Account Cash Double Payments Stock - Tuck Shop Stock Merchandise - Estimated Savings Account Interest Total Assets LIABILITIES Xero UK Ltd- Mar 23 Summer Camps Duke of Edinburgh Schemes Connaught Trust Grant Account Examination Total Liabilities Net Current Assets Net Assets |
17,425.66 £ 8,083.50 £ - £ 132.81 £ 35.00 £ 2,300.00 £ - £ 27,976.97 £ - £ - £ - £ 2,975.00 £ 240.00 £ 3,215.00 £ |
10,252.00 £ 10,865.00 £ 18,263.47 £ 4,006.84 £ 7.50 £ - £ 99.05 £ - £ 2.00 £ 22,378.86 £ 40.00 £ 750.00 £ 425.00 £ 4,524.50 £ 230.00 £ 5,969.50 £ 24,761.97 £ 16,409.36 £ 35,013.97 £ 27,274.36 £ 31-Mar-23 |
|---|---|---|
Signed On Original
Approved by: CSgt (VCC) Sam Moody 15-Mar-25 Commanding Officer
ROYAL MARINES VCC (PORTSMOUTH)
RECEIPTS AND PAYMENTS SUMMARY
For Year ended 31 March 2024
| Receipts Subscriptions Connaught Drill Trust Grant Other Grants & Donations HQ Fed Grant - Gas Cookers HQ Fed Grant - Ypres Trip 2022 Ypres - Cadet Contributions Joining Fees Tuck Shop Merchandise Sales Cadet Trips Duke of Edinburgh Summer Camp 2022 Summer Camp 2023 Sale of Clothing & Equipment Sale of Mini Bus Interest Miscellaneous Income Mini Bus Hire Payments exceed Receipts |
9,475.00 £ 3,600.00 £ 1,657.70 £ - £ - £ - £ 4,682.50 £ 1,881.87 £ 3,091.46 £ 525.50 £ 100.00 £ - £ 5,448.00 £ - £ - £ 76.66 £ 16.00 £ - £ 30,554.69 £ - £ 30,554.69 £ |
Previous Year Payments 8,274.40 £ Property - 5 Laptops/LaserTags 4,524.50 £ Clothing & Equipment 523.05 £ Cadet Training Asset 540.00 £ HQ Fed Grant - Ovens 960.00 £ Technical & Field Equipment 115.00 £ Merchandise 5,137.06 £ Duke of Edinburgh 853.05 £ Tuck Shop 2,408.85 £ Ypres Trip - £ Summer Camp 2022 425.00 £ Summer Camp 2023 6,562.00 £ Field Gun 750.00 £ Stores 752.53 £ Flowers/Wreaths 4,020.00 £ Vehicle Expenses 6.83 £ Vehicle Insurance 4.00 £ Fuel 99.58 £ Staff Meals & Christmas 23 35,955.85 £ Flowers & Wreaths Cadet Trips Prizes, Awards & Engraving Leaving Gifts Food & Socials Recruitment & Training Repairs & Renewals Office Expenses IT and Software Bank Fees Account Examination Double Payments Miscellaneous Expenditure - £ Receipts exceed Payments 35,955.85 £ |
Previous Year - £ 2,000.00 £ 1,049.60 £ 145.08 £ 412.41 £ - £ - £ 448.00 £ 4,968.60 £ 1,046.95 £ 5,028.39 £ 1,602.79 £ - £ 375.00 £ 1,909.70 £ 632.31 £ - £ 3,052.00 £ - £ 5,240.00 £ 5,644.98 £ - £ 525.00 £ - £ 301.99 £ - £ - £ 44.97 £ - £ 968.49 £ 251.17 £ 1,812.00 £ 214.17 £ 509.01 £ 804.62 £ - £ 40.00 £ - £ 400.00 £ - £ 166.95 £ 34.95 £ 140.34 £ - £ 1,099.70 £ 949.63 £ 146.15 £ 265.60 £ 2,907.21 £ 1,120.84 £ 163.56 £ 259.33 £ 747.37 £ 1,147.96 £ 18.13 £ - £ 230.00 £ 220.00 £ 132.81 £ 12.99 £ - £ 27,315.84 £ 21,874.91 £ 3,238.85 £ 14,080.94 £ 30,554.69 £ 35,955.85 £ |
|
|---|---|---|---|---|
Proving calculation Cash & Bank at 31 Mar 23 £ 22,270.31 Receipts exceed Payments £ 3,238.85 Cash & Bank at 31 Mar 24 £ 25,509.16
Independent Examiner’s Report to the Trustees of the Royal Marines Volunteer Cadet Corps (Portsmouth) Fund.
I report on the accounts of the Charity for the year ended 31 March 2024 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
15 March 2025
INDEx Cert.doc