# _**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