**Charity registration number 1147005** **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Charity number** 1147005 **Independent examiner** DSA Prospect Limited The Old Chapel Union Way Witney Oxfordshire OX28 6HD ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 4| |Independent examiner's report|5| |Statement of financial activities|6 - 7| |Balance sheet|8| |Notes to the financial statements|9 - 17| ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ The trustees present their annual report and financial statements for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement 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)” (as amended for accounting periods commencing from 1 January 2016) ## **Objectives and activities** Summary of the objectives of the charity set out in its governing document/constitution. The promotion of the efficiency of the Special Reconnaissance Regiment ("SRR") and all predecessors thereto (the "Regiment") of the Crown by the provision and support of facilities and activities and fostering of 'esprit de corps' for the efficiency and well-being of service personnel. The relief of need to past and present members of the Regiment and their dependants by providing such persons with the provision of financial support and welfare projects which they could not otherwise afford through lack of means (the "Beneficiaries"). ## **Summary of the main activities undertaken this year measured against the objectives of the charity:** ## **Achievements:** The SRRA remain focused on providing welfare support and assistance to former and serving members of the Regiment and their immediate families. All activities for our membership post the COVID restrictions have now thankfully returned to normal. These continue to be measured against our Charter and Constitution. The SRRA Executive (Trustee) Committee continues to hold its biannual meetings; during which they review and endorse the current and forecasted activities of the charity, as well as its future goals. To help aid this process the SRRA Business Plan will be revised in the spring of 2023. The Charity needs to raise a minimum of £250k per year to meet its current welfare commitments and running costs. If difficulties were to arise, it has been calculated that in a worst-case scenario an unrestricted income reserve of £300k would be needed for it to continue operating for at least 12 months. This sum is already secured and held in reserve and includes designated funds to respond to contingency related bereavement expenses. These are attributed (but not limited) to funeral expenses, travel, and accommodation in the event of the death of a serving member of the Regiment (whilst in service or otherwise). As new endorsed welfare projects begin to mature our expenditure is predicted to increase. As an example, our Trustees are currently conducting a feasibility study into the provision of private health care, initially for the immediate families of serving members of the Regiment, but in tandem the Trustees are also investigating health care pathways for its Veterans, ## **Performance (Activities) Charity Income of £701,871 an increase of £449,878 from 2022:** Charitable activities raised £229,906. Grants and donations were received from personal and corporate benefactors totalling £469,559. Most notably was a donation of £229,973 from Christies Auction house as part of the proceeds raised during the EON Productions James Bond 60[th] anniversary auction. Interest received from investments totalled £2,406. ## **Performance (Activities) Charity Expenditure of £293,378 an increase of £129,653 from 2022:** **Raising Funds Projects/Promotional Costs £13,992.** The SRRA continues to invest in promoting the Charity by networking with benefactors and supporters. £12,000 was granted for a large reception in May to facilitate the promotion of the Charity and to further unit cohesion in a social setting. £478 was granted for Regimental/SRRA designed Christmas Cards that were sent to benefactors and friends of the charity. £1,514 was allocated for the purchase of items to use as presentation pieces at fundraising dinners. - 1 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **Staff Costs (Pension) £803** **Family Welfare and Respite Accommodation £12,230.** In total the Charity facilitated 10 respite breaks for serving members of the Association and their immediate families during FY 22/23. **Engagement with Benefactors £500** Dinner held in the Tower of London to thank Benefactors. **Family Welfare Activities £29,855** of which £12,973 was granted towards Regimental/Squadron Families cohesion events. £568 was granted to families to help with summer camp expenses and £2,796 was granted to assist with educational trips. for their children. The Charity granted £3,518 to assist with welfare activities including the purchase of wellbeing and welfare books and the support of family workshops at the Garrison Church. £5,000 was granted to the Garrison Creche and £5,000 was granted to the Garrison Welfare Department to assist with family welfare activities. **Unit Cohesion Activities £17,469.** Has been granted to assist with unit squadron historical events/tours and personnel development. **Regimental Museum and Heritage £35,946.** The Charity has paid £33,000 towards the commission of a memorial statue as part of the Regimental statue project. £2,946 has been granted for the museum honour boards. **Grants funding of Activities £63,892.** The Charity has continued to provide financial support on a case-bycase basis and at a time of need. During this financial year the SRRA has disbursed the following Grants: **Welfare and Benevolence £34,218.** Of which £9,900 was granted to the Garrison Welfare Department to assist with the cost of its office relocation. £19,229 was granted as a benevolence payment (donated by a benefactor into a restricted fund). £2,816 was granted to assist with clinical/consultation fees. £2,273 was granted to assist with general welfare and benevolence cases. **Soldier Welfare £3,400** granted towards Regimental/Squadron cohesion events. **Adventure Training/Sports £16.500** of which £15,000 was granted to 2 adventure training exercises and £1,500 was allocated towards sporting events. ## **Mental Health Resilience £6,390.** ## **Remembrance £3,384.** **Support and Governance Costs £118,691 and increase of £26,730 from 2022** . This includes staff costs of £84,553. Support/Income Generation costs £16,811, Audit/General office running costs £13,051 and AGM venue booking fee £2,640. Depreciation £1,636. ## **Achievements and performance** ## **Financial review** Income generated this year totalled £701,871, an increase of £449,878 from the previous FY. The Charity’s spend on core charitable activities also increased from £69,818 to £160,695. The insurance requirements of the charity were reviewed and renewed costing £1,188 (including admin fee and insurance premium tax). The SRRA’s fixed assets (equipment and shares) has reduced by £24,752 (£29,786/£54,538 due to the fall in the value of investments in shares. The value of the charity’s current assets (cash at bank, less creditors) has increased by £405,745 (1,319,912/£914,167) from the previous year. Resulting in an overall end of year increase in capital funds of £380,993. At no point during this reporting period did the Association need to draw upon its reserve funds. The majority of funds remain attributable to unrestricted use with 5 specific funds for restricted use. - 2 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ Our current income is reliant on two core strands: benefactors and exclusive fundraising events. This financial year has been by far our best, since the foundation of the Association’s charitable arm. This is mainly due to three key events. The 2022 Annual SRRA Charity Gala Dinner was the most successful thus far. Secondly, donations were received following a smaller private fundraising dinner organised by high net worth individuals. Lastly, we received a significant donation from the EON Productions James Bond 60[th] anniversary auction held at Christies. In addition, serving members of the Regiment are voluntary donating one day’s pay annually to the Charity. To help increase our fundraising, the Charity is actively seeking financial guidance to create an investment portfolio to not only safeguard its long-term future and welfare commitments, but also hopefully act as an income generator. The Trustees have now received three investment briefings including one from the Charitable Aid Foundation. The successful bid will be endorsed during the first 2023 Trustee meeting. The Trustees have also endorsed the formation of a Fundraising Subcommittee. Its structure and initial terms of reference have been established by the Chair and were reported to the Trustees in early 2023. Further work is ongoing, before it becomes operational. In summary, this has been an extremely successful year. Our funds have significantly recovered from the pandemic, and we have now secured a healthy balance moving forward. With the implementation of a Fundraising Subcommittee and a forthcoming endorsement for an investment portfolio we hope to financially increase our ability to deliver welfare support to former and serving members of the SRRA and their immediate families at a time of need. ## **Structure, governance and management** ## **Type of governing document** Constitution adopted 8 March 2012 and amended 23 April 2012, 13 March 2015, 29 April 2021 and 24 August 2021. Registered as a charity 25 April 2012 known as the Olly Fund. The name of the Charity changed in October 2015 to the Special Reconnaissance Regimental Association. ## **How the charity is constituted** The Trustees convene meetings biannually to assess future bids for financial support and consider any adjustments required to meet the annual business plan. In exceptional circumstances, extraordinary expenditure can be authorised by nominated Trustees within specified limits, (as per the Charter and Constitution) when expenditure has not been raised and approved at any such meeting. ## **Bereavement Expenses** Expenditure from the Fund to provide immediate relief to dependants who are in a 'time of need', hardship or distress because of death of a serving member of the Regiment (whilst in service or otherwise) can be authorised up to £10,000. This can be done by either the Regimental Secretary (Chief Executive) or Chair, or in their absence by the Vice Chair and one other Trustee. Such expenditure may cover costs including, but not limited to, funeral expenses, cost of accommodation and travel in relation to the funeral and associated trips to the Regiment, or other related needs. ## **Name of Trustees** This charity has been given a dispensation by the Charity Commission from publishing the name of its Trustees. ## **Trustee selection methods** The nine trustees consist of three senior serving members of the Regiment (by appointment), five former serving members of the Regiment including the Chair (co-opted), and one Non-Executive Director (co-opted). - 3 - ## ## SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION I report to the trustees on my examination of the financial statemenls of Special Reconnalssance Regimental Associallon (the tharityl for the year ended 31 Maich 2023. Responsibilities and basis of rèport A5 the Iruslees of the chariiy you are responslble for the preparation of the finandal siaiements In accordance wlth the requirements of the Charitses Acl 2011 Ilhe 2011 Acti. I report in respect of my examination of the charity's finanaal statements carried out under s&ction 145 of the 2011 Act. In carrying out my examination I havè follow￿ all tho applicable Directsons giv￿ by tho Charity Commis61on nder Section 14515llbl ol the 2011 Act. Indvpendgnt •xamin•V$ ¥tatemont SinGe thè charily's gross income exceeded £250,0￿ your examiner musl be a member of a body listed in section 145 of lh8 2011 Act. I cgnfirm Ihal l am qualrfied lo undertake the 8xamination bo¢au59 l am a m9mber of ACCA. whSch is ong ol lh¢ list&**Restricted** **Endowment**
**funds**
**funds**
**funds**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
429,559
40,000
-
Charitable activities
**4**
229,906
-
-
Investments
**5**
2,406
-
-
**Total income**
661,871
40,000
-
**Expenditure on:**
Raising funds
**6**
13,992
-
-
Charitable activities
**7**
255,761
23,625
-
**Total expenditure**
269,753
23,625
-
**Net incoming resources before transfers**
392,118
16,375
-|**Total**
**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2023**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
469,559
246,916
3,500
-
229,906
1,500
-
-
2,406
77
-
-
701,871
248,493
3,500
-
13,992
1,946
-
-
279,386
161,779
-
-
293,378
163,725
-
-
408,493
84,768
3,500
-|**Total**
**2022**
**£**
250,416
1,500
77| |---|---|---| |||251,993| |||1,946| |||161,779| |||163,725| |||88,268| - 6 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ |**Unrestricted**
**Restricted** **Endowment**
**funds**
**funds**
**funds**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**Net incoming resources before transfers**
392,118
16,375
-
Gross transfers between funds
-
-
(27,500)
**Net movement in funds**
392,118
16,375
(27,500)
Fund balances at 1 April 2022
833,523
82,682
52,500
**Fund balances at 31 March 2023**
1,225,641
99,057
25,000|**Total**
**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2023**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
408,493
84,768
3,500
-
(27,500)
-
-
(15,000)
380,993
84,768
3,500
(15,000)
968,705
748,755
79,182
67,500
1,349,698
833,523
82,682
52,500|**Total**
**2022**
**£**
88,268
(15,000)
73,268
895,437
968,705| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 7 - ## ## ## |||**2023**||**2022**|| |---|---|---|---|---|---| ||**Notes**|£|£|£|£| |**Fixed assets **|||||| |Tangibleassets|**12 **||4,786||2,038| |Investments|**13 **||25,000||52,500| ||||29,786||54,538| |**Current assets **|||||| |Cashatbankandinhand||1,321,153||915,407|| |**Creditors: amounts falling due within **|||||| |**one year **|**14 **|(1,241)||(1,240)|| |Netcurrentassets|||1,319,912||914,167| |**Total assets lesscurrent liabilities **|||1,349,698||968,705| |**Capital funds **|||||| |Endowmentfunds-general|||25,000||52,500| |**Income funds **|||||| |Restrictedfunds|||99,057||82,682| |Unrestrictedfunds|||1,225,641||833,523| ||||1,349,698||968,705| |ThefinancialstatementswereapprovedbytheTrusteeson||zod
|23
.||| ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **1 Accounting policies** ## **Charity information** Special Reconnaissance Regimental Association is a unincorporated charity registered in England and Wales. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 9 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure comprises those costs incurred by the company in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the company and include the audit fees and costs linked to the strategic management of the company. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Equipment 20% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/ (expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 10 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **1 Accounting policies** **(Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 11 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **3 Donations and legacies** Donations and gifts |**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---| |**funds**|**funds**||**funds**|**funds**|| |**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| |**£**|**£**|**£**|**£**|**£**|**£**| |429,559|40,000|469,559|246,916|3,500|250,416| - 12 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **4 Charitable activities** |**5**
**6**|**2023**
**2022**
**£**
**£**
Event receipts
229,906
1,500
**Investments**
**Unrestricted Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Interest receivable
2,406
77
**Raising funds**
**Unrestricted Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Fundraising and publicity
Other fundraising costs
13,992
1,946
13,992
1,946|**2022**
**£**
1,500| |---|---|---| |||1,946| - 13 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **7 Charitable activities** |Pension costs
Family welfare - accomodation
Projects to develop Regimental Ethos
Unit cohesion activities
Family welfare activities
Bank fees
Regimental museum expenses
Entertainment
Grant funding of activities (see note 8)
Share of governance costs (see note 10)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2023**
**£**
803
12,230
-
17,469
29,855
-
35,946
500
96,803
63,892
118,691
279,386
255,761
23,625
279,386|**2022**
**£**
803
7,150
12,855
500
7,350
15
-
-| |---|---|---| |||28,673
41,145
91,961| |||161,779| |||161,779
-| |||161,779| ## **8 Grants payable** |Grants to institutions:
Benevolence
Soldier welfare
Adv trg/sports
Mental health resilience
Remembrance|**2023**
**£**
34,218
3,400
16,500
6,390
3,384
63,892|**2022**
**£**
18,120
4,000
16,085
4,110
(1,170)| |---|---|---| |||41,145| - - 14 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **9 Employees** The average monthly number of employees during the year was: |**Employment costs**
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
**Support costs**
Independent examiners fees
Trustee travel costs
Staff costs
Depreciation
Telephone & internet
Printing and stationary
IT
Insurance
General expenses
Employee travel
Gala dinners
Analysed between
Charitable activities|**2023**
**Number**
2
**2023**
**£**
803
**2023**
**£**
2,296
4,298
84,553
1,636
2,400
1,051
382
1,188
2,640
1,436
16,811
118,691
118,691|**2022**
**Number**
2| |---|---|---| |||**2022**
**£**
803| |||**2022**
**£**
2,237
1,728
82,323
1,113
-
378
69
911
125
564
2,513| |||91,961| |||91,961| ## **10 Support costs** ## **11 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. - 15 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ |**12**|**Tangible fixed assets**|| |---|---|---| |||**Equipment**| |||**£**| ||**Cost**|| ||At 1 April 2022|5,734| ||Additions|4,383| ||At 31 March 2023|10,117| ||**Depreciation and impairment**|| ||At 1 April 2022|3,695| ||Depreciation charged in the year|1,636| ||At 31 March 2023|5,331| ||**Carrying amount**|| ||At 31 March 2023|4,786| ||At 31 March 2022|2,038| |**13**|**Fixed asset investments**|| |||**Investments**| |||**£**| ||**Cost or valuation**|| ||At 1 April 2022|52,500| ||Valuation changes|(27,500)| ||At 31 March 2023|25,000| ||**Carrying amount**|| ||At 31 March 2023|25,000| ||At 31 March 2022|52,500| ## **14 Creditors: amounts falling due within one year** |Other creditors
Accruals and deferred income|**2023**
**£**
281
960
1,241|**2022**
**£**
280
960| |---|---|---| |||1,240| - 16 - ## **SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ |**15**
**Analysis of net assets between funds**
Fund balances at 31 March 2023 are represented by:
Tangible assets
Investments
Current assets/(liabilities)|**Total**
**2023**
**£**
4,786
25,000
1,319,912
1,349,698|Total
2022
£
2,038
52,500
914,167| |---|---|---| |||968,705| ## **16 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 17 -