Charity reglstration number 11470D5 SPECIAL RECONNAISSANCE REGIMENTALASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION LEGALAND ADMINISTRATIVE INFORMATION Charity number 1147005 Independent examlner DSA Prospect Limited First Floor 1 Des Roches Square Wrtan Way Witney OX28 4BE
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION CONTENTS Page Trustees, report Independent examinefs report statarnent of financtal activitios Balan sheet Notes to the financial statements 8-16
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Tho twstees present their annu81 raport and financial statements for thg year ended 31 March 2024. The financial ststement5 have been prepared in accordan with the accounting policies set out in note 1 to the financl81 ststemenis and comply with the charivs govgming document. the Charities Act 2011 and 'Accounting and Reporting by Charities: Stalement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Flnanclal ReportFng 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 objecttves ofthe charity set out In Its goveming documentlconstitution. The prornotion of the efficlency of the Special Reconnaissance Regiment ("SRR'} and all predecessors thereto (the "Regim¢nt"> of the Crown by the provision and support of facilities and activltles and fosterfng of'esprit de corps, for the efficiency and welkbeing of service personnel. The relief of need to past and present members of the Regiment and their dependants by providing such per30ns with th8 provision of financial sUPPOrt and welfare projeds which they could not otherwise afford through lack of means (the "Beneficiaries"). Summary of tho main activities undertaken this year measured against the objectives ol the Charlty: Achievements: The SRR4 remains cornmitted to helping servlng and former serving Regim8nt membgrs and thelr dependents by offering welfare support and assistance. Every action is evaluated to 8nsur8 absoluts compliance with our Charter and Constitution. The SRRA Executive ITTUStee) Commlttee meets twice a year to discuss and approve the charity's present and planned operations as well as ils long-terni objectlvas. To cover its present welfare obligations, operating expenses. and a Private Healthcare Scheme {to be Introduced In the next Financial Year), which assists the dependents of the servlng soldiers, the organisation must raisa at least £550,000 annually. The charity now has £800k invested, of which £300k is in govemment bonds and £SOOk is In low-risk equities. Whiuey Asset Managements (WAM} is responsible for managing these investrnents. This secured arnount comprises money set aside for future mediGal costs as well as mouminy fees. They Indude. but are not restricted to. burial costs, travel. and lodging for the immediate relatives of active members of the regiment in the event of Iheir death. Benefactors and special fvndraising events are the Iwo main SoUeS of our current revenue. A fijndraising SUbmmittee. led by the Association's vlce president. has been establishèd for the* latter. and we have recenlly adopted a.customer relationship management tool to hèlp with the fomier and guarantee efficiency. In condusion. the SRRA has had a very good year. We take great delight in being able to prowde our members with more essèntial help as our revenue keeps rising. Perforniance (Actfvftles) Charlty Income of £676,101 an deereasè of £25,770 from 2023: Charitable activities raised £243.140, £230,475 of which was raised at the Annual Gala Dinner. Grants and donations were recelved from pewnal and corporate benefactors totalling £415,173. Interest received from investments totalled £17,788. Performance (Activitie5) Charity Expendlture of £320,539 an Increase of £27.161 from 2023: Raising Funds ProjectslPromofional Costs £1 5,689. The SRRA continues lo Invest In developing the Charity ty n¢tworking with benefactors and support8rs. £12.000 was granted for a large SRRA sponsored reception in May to facilitats the promotlc&n of the Charity and to further unit cohesion in a social setting. It also afforded Ihe Trustees the opportunlty to thank benefactors for their support. £540 was grafjted for RegimentsilSRRA designed Christmas Cards that were sent to benefactors and friends of the charity. £3.149 was allocated for the purchase of items to use as presentstiort piecas at fundralsing dinners.
SPECIAL RECONNAISSANCE REGIMENTALASSOCIATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Staff Costs (Pension) £1,051 Family Welfare and Respite Accommodatlon £11,728. In this Financial Year. the Charlty facilitated 10 respite breaks for serving members of the Association and their immediate families totalllng 20 adults and 22 children. Projeets to promots Regimontal Ethos £1,000 granted from the Cellxion innovation fund. Unft Cohesion Activitles £16,109. Grants were made to facilitate a Battlefield Tour (£5,000). four Squadron cohesion activities (5,335) a Windsor Castle reception (£4,057) and several smaller cohesion activiknes {£1,717) Family Welfare A¢tlvliles £24.136. Grants totalling £8.436 were made trj Regimentsllsquadron Families coheslon events, £10,000 was granted to th8 G8ffison Welfare Depart for welfare aclivities, £500 was granted to the Gardsion Church to assist bereavem8nt activtties and £5.200 was granted to families to support th& educatlonal needs of thelr chlldren. Bank Fees £25 Regimental Museum and Heritag¢ Expenses £45.808. During thls Financial Year grants totalling £20,453 have been fflade to assist with cornmemorative events at the Royal Hospital Chelsea and the National Memorial Arboretum. A grant of £24,750 was made to start the third of a trio of statues comFnissioned by the Regiment and Association. £605 was granted for memorial boards in the Regimental Museuffl. Entertalnmont £1.838 granted to cover three engagement meetlngs with prospectiv8 b8nefactOTS. Reprnsenting SRRA Costs £365. Grants funding of Activities £62,9X The Charity has contlnued to providè financial support on 8 caseW- case basis and at a tiTne of need. During this financial yearthe SRRA has disbursed the following Grdnts: Benevolence £37,053 of which £26,157 was allocated in dinical fees. £7.411 was allocated in general benevolence grants, £3,QOO in chlld education assistance grants and £485 in memorial grants. Adventure Traininglsports £18.660 of which £15.300 was grantsd to 3 adventure training exercises and £3,360 was allocated towards four sporttng activitles. Mental Heallh Resilience 6,400 Remembrance £821 Support and Governance Ct)sts £139,856 an increase of £21.165 from 2023. This Includes staff costs of £90.154. Supporvlncome Generation cost5 £22.795 and AudiUGeneral offirE running costs £25.247. Depreciation £1,660
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnancial review Income generated this year totalled £676,101. which is a decrease of £25,770 from the previous FY. The Charity's expenditure on core charitable activities increased from £160.695 to £184,g94. The insurance requirernents of the charity were reviewed and renewed costing £1.153 (including admin fee and insurance premium tax), which is a £35 decrease from FY 22123. The SRRA'S fixed assets (equipment and Sha5> has Increased signifi¢antly due to the Charity setting up an inveslmerst portfolio wllh Whidey Aet Management (WAM), whlch In total saw £800,000 invested, of which £300k is in govemment bonds and £500k is in Iow-risk 6quiti8s. The Charity retains its shares with Shearwater which are vaIued at £25.000. Thg value of the Charities. current assets (cash at bank, less credrtors) has decreased by £445,4831£874,42911,319,912} from the previous y88r du8 to the abovewmentioned movement of funds to WAM. Totsl assets (Iw current liabilities) has risen by £355,562 {£1,705,26011,349.698). At no point during this reporting period did the Association need to draw upon its reserve funds. The majority of the charÈties' funds rémain attributable to unrestricted use, with just 5 specific fur$ for restrtcted use. Whilsl the Fundralsing Sub-committee is stlll relafjvely nascent. it is now operational and is providing some much welcome support. In summary. this has bean anothor extremely successful year for th8 Charity. Our WAM portfolio provide5 US Wtth the securfty and knowledge that our assets now secured and professionally managed, which in lum allows us to Increase our ability to d8liver welfare support to former and serving membets of the SRRA and thelr immediaté families ata tim8 of need. struclure, governance and management Type of goveming document Constitution adopted 8 March 2012 and amended 23 April 2012, 13 March 2015. 29 Aprfl 2021 and 24 August 2021. Reglstered as a charity 25 April 2012 known as the Olty Fund. The name of the Charity changed In October 2015 to thè Speclal Reconnaissan Regimental Association. How thÈ charlty Is constituted The Trustees convene meetings biannually to assess fijture bids for financlal support and consider any adluslment8 required lo meet the annual business plan. In exceptional circumstsnces, extraordinary expenditure can ba authorlsed by nominated Trustees within specified limits, {as per the Charter and Constitution) when èxpanditure has not been raised and approved at any such meeting. Bereavement Expense5 Expenditure from th8 Fund to provide immediate relief lo dependants who are in a ttime of need,, hardshlp or distress because of death of a serving member of the Regiment (whilst in service or otherwise) can bè authorlsed up lo £10,000. This can be done by either the Regimental Secretsry (Chlef Executive) or Chair. or in their absence by the Vice Chair and one other TTUStee. Such expéndlture may cover costs Indudlng, but not limlted to, funeral expenses. cost of accommodatlon and travel in relation to the fvneral and associated trips to the Regiment. or other related needs. Name of Trnstees This charity has been given a dispensation by thè Charity CoTnmission from publishing the name of its Trustees.
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Recrultment and appolntment of trustees Trustse selectlon methods The nin6 trustees consist of three senior serving mernbers of the Regiment (by appointment). fiv8 former serving members ofthe Regiment including the Chair (co-opted). and one Non-Exe¢utive Director {cix)pted}. Trustees serve an average term of two to five years, depending on thelr appointment and circumstances. Each newly elected Trustae is comprehensively inducted and briefed on the aims and objedives of the Charity and thair responsibilities. They are given a copy of the Charter and Constitution and the Ch8rtty Commtssion 'The Essential Tfuslee, which directs associated suppleméntary reading. To evidence Trustee5' readin9 of existing and new guidanc8 from Ihe Charity Commission a document has bean created to provide an audit trail, to track and record all Truslees confimiing they hav8 read and understood the guidance provided. These documents are a mandatory read for all Executive Committee Members (Trustees) as direded by the SR114 President. Members of th8 Association are Conts'nually asked to apply for Trustse appointments as and when ttjey become vacant. Appllcants are scored by the ExecutÈve (Tnjstee) Committee based on their suitability and compliance with the Charity Commission guld81ines prior to being appointed. trustees, report was approved by the Board of Trustees. OrigjDA . i&o¢gJ.IPRr.?. 24 09.'48GMTI 09-Dec-2024
SPECIAL RECONNAISSANCE REGIMENTALASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPECIAL RECONNAISSANCE REGIMENTALASSOCIATION report to the trustees on my examinafjon of the financial statsments of Special Reconnaissance Regimental Association (the d]atity) for the year ended 31 MaKh 2024. Responsibilities and basls of report As the trustees of the charity you are sponSible for the preparalion of the financial statements in accordance with the requirements of the Charities Acl 2011 (the 2011 Act). I report in respect of my examination of the ¢h2rity's financial statements carried out under section 145 of the 2011 ACL In carrying out my examination I have followed all the applicable Directions given by Ihe Charlty Commission under section 145(51(b) of the 2011 Act. Independent examinerfs statement Since the charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 ACL I confimi that l am qualified to undertake the examination because l am a member of ACCA, which is one of thé listed bodies. Your attention is drawn lo the fact that the charity has prepared financial statements in accordan with Accounting and Reporttng by Charities preparing their accounts in accordance with the Financial ReFlOrting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended PraGt1 issued on 1 April 2005 which is r8ferred to in the extant regulations but has now been withdrawn. l understsnd that this has been done in order for financial statements to provide a true and fair view in accordanGe with Generally Accepted Accounting Practice effective for reporttng periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in connectÈon with the examinatlon giving me cause to believe that ITJ any material respect accounting records w8re not kept in respect of the charity as required by seGlion 130 of the 2011 Acl. or the financial statements do not accord with those records., or th8 financial statements do not comply with the applicable requirements conmIng the form and content of accounts set out in the Char¢ties (Accounts and Reports) Regulation$ 2008 other than any raquirement that the accounts gtve a true and falr vlaw which is not a matt8r considered as part of an independent examination. I have no concems and have come across no other matters tn connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. )SA DSA Prospect Limi d (Dec9. 202417'.45GMTI DSA Prospect Limited First Floor 1 Des Roches Square Wilan Way witney OX28 4BE Dated.0.9.-.D£c-. 2024
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restrlcted Endowment funds funds funds 2024 2024 2024 Total Unreslrfcted Restrlctod Endowmènt funds funds funds 2023 2023 2023 Total 2024 2023 NolwJ Income Irom: Donations and legacies Charitsble activities Investmenls 258,974 243,140 17,788 156.199 415.173 243,140 17,788 429,559 229,906 2,406 40.000 469,559 229,906 2,406 Total income 519,902 156,199 676,101 661,871 40,000 701,871 Expenditure on: Raising funds Charitable activities 15,689 260,400 15,689 304,850 13.992 255.761 13,992 279.386 44.450 23,625 Total expendlture 276,089 44,450 320,539 269.753 23,625 293.378 Net Income 243.813 111.749 355,562 392,118 16,375 408,493 Transfers between funds (27,500) (27,500) Net movement in funds 243,813 111,749 355,562 392,118 16,375 (27,500) 380,993 Reconciliation of funds: Fund ba18nces at 1 April 2023 1,225,641 99,057 25,000 1,349.698 833,523 82.682 52,500 968,705 Fund balances at 31 March 2024 1,469.454 210,806 25,000 1,705,260 1,225,641 99.057 25,000 1.349,698 The stalement of financlal actlvllles Includes all galns and lossos recognlsed In the year. All income and expendlture derfve from continuing activitie5.
SPECIAL RECONNAISSANCE REGIMENTALASSOCIATION BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notss Fixed assets Tangible assets Investm8nts 13 14 5.831 825.000 4,786 25.000 830,831 29,786 Current asset$ Cash at bank and in hand 875.990 1,321,153 Creditors: amounts falllng due withln one year 15 {1.561) {1,241) Not current assets 874.429 1,319,912 Total assets less ¢urrent Ilabllltles 1,705.260 1.349.698 The funds of the Charity Endowment funds Restricted incoTn8 funds Unrestricted funds 16 17 18 25.000 210.806 1.469.454 25.000 99,057 1.225.641 1.705.260 1.349,698 The financial statements werè approved by the truslees on . 09.Dec-2024 Origina Igned (Ciéc J,. 24 09:48 GMT)
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity infomiatlon Special Reconnaissance Regimental Association is a unincorpDrated charity registered in England and Wales. 1.1 Accounting convention The financial statements have been prepared In accordance wlth the charitys goveming document, the Charities Act 2011, FRS 102 Yhe Financlal 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 charitles preparing their acwunts in accordance with the Yinancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (effoctive 1 January 2019). The ¢harity 15 a Public Benefft Entity as defined by FRS 102. The charity ha$ taken advantsge of the provisions in the SORP for Ghartties not to prepare 8 Slatement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulats'ons 2008 only to the extent requlred to provide a true and falr view. This departure has involved following the Statement of Recommended Practice for charitles applytng FRS 102 rather than the version of the Ststement of Recommended Practl¢e whlch 18 referred to in the Regulations but whlch has since been wlthdrawn. The financial statements are prepared in steding, whlch is the functtonal currency of the charity. Monetsry amounts in these ffinancial statements are rounded to the nearest £. The financial statements have been prepared under the historlcal cost convention. The principal accountlng policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, th8 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 concem basis of armunting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds ara avallable for use at the discretion of the trustees in fvrtheranca of Ihelr charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in Ihe notes lo the financial ststement& Endowment funds are subjeGt to specific conditions by donors that the capital must be maintained by the charity. 1A Income Income Is recognised when the charity is legally entitled to It afier any perfomance conditions have been meL the amounts can ba measured reliably, and it Is probable that Income wlll bè received. Cash donations are recognised on receipL Other donations are recognised once the charity has been notified of the donation. unless perfomian¢e condltions requlre deferr81 of the amount. Income tax recoverable In relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacles are recognised on receipt or otherwise if the chartty has beèn not[ed 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
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AOUntIng policios {Contlnued) 1.5 Expenditure All expendlture is accounted for on an accruals basis and has been classffied under heading5 that aggregate all costs retated to the catègory. Expenditure comprises those costs Incued by the company in the delivery of its activitie5 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. Govemance costs include those costs associated with meeting the constitutlonal and statutory requirements of the company and include the audit fees and ¢osls linked to the strategic management ofthe company. 1.6 Tangible fixed assets Tangible fixed assets ar& Initially measured at cost and subsequently measured at cost or valuation, net of depreclatlon and any impairment losses. Depreciation is r8cognised so as to write Gff the cost or valuation of assets less their residual values over their useful Ilves on the followlng bas&s: Equipment 20% reducing balance The gain or loss arising on the disposal of an asset is detemined as the differencè baéen th8 sale proceeds and the carrying value of the asset. and is recognised In the statement of financÉal actwities. 1.7 Fixed asset inveslments Fixed asset investments are inttially measured at transaction price 8xcludlng transaclion costs. and are subsequenlEy MeaSud at fair value at each reporting dale. Changes in fair value are recognised in net incomel(expenditure) forthe year. Transaction costs are expensed as incurred. 1.8 Impairnient of fixed assets At each reportlng end dak, the charity reviews the carrying amounts of its tangible assets to determine whether Ihere Is any Indication that those assets have suffered an impaimRnt loss. If any such indication exists, the re¢overable amount of the asset is estimated in order to datèmine the extent of the impatnment loss (rf any). 1.9 Cash and cash equivalents Cash and cash equivalenis include in hand. deposits held at call with banks, other short-temi liquid investments with original maturits.es of three months or les¥, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Basic flnanclal assgts Basic financial assets, which indude debtors and cash and bank balan, are initially measured at transacllon price including transaction costs and are subsequerrtly ¢arrled at amortised cost using the effoctlve interest method unless the arrangement constftutes a financing transaction, wher6 the transaction is measured at the present value of the future receipts discounted at a market rate of interesL Financial assets cla55ified as recelvable wtthin one year are not amortised.
SPECIAL RECONNAISSANCE REGIMENTALASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) Basic financAal liabilities Basic financial liabiltlies, including creditors and bank loans are iniltally 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 liabllftles classified as payable wlthln one year are not amortised. Debt instruments are subsequenuy carried at amortised cost, uslng th8 effactive Interest ratg method. Trade credFtors are obligation5 to pay for g¢)ods or seNices that have been acquired in the ordinary course of op8rations froTn suppliers, Amounts payable are dassified as current Itabilities if payment is due within one year or less. If nol they are present8d as non-current liabilities. Trade Credito are recognised initially at ttansaction prirE and subsequently measured at amortised cost Using the effective interest method. Derecognrtion of finan¢ialliabilities Financial liabililies 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 seNlces are received. Teminallon beneffts are recognised immediately as an expense when the ¢harlty is demonstrably committed to terminate the employment of an employoe or to provide temiinatlon benefits. 1.11 Retirement benefits Payments to defined contribution ret1ment b8n8fit schemes are charged as an expense as they fall du8. Crttical accounting estimates and judgements In the appIltiOn of the charity's accounting polities. the trustees are required to make judgements. estlmates and assumptions about the carrylng amount of assets and liabilities that are not readily apparent fmm other sources. The eslimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Aclual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revlsions to accountlng 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 ravlsion affects both current and fijturg perfods. Income from donatlons and legacies Unrestrl¢tsd Restricted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Totsl 2024 2023 Donations and gifts 258,974 156.199 415,173 429,559 40,000 469,559 10-
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities Unrestricted funds 2024 Unrestricted funds 2023 Fundralslng actlvlty Dinner events 243,140 229,906 Incon from investments Unrestricted Unrestricted funds funds 2024 2023 Interest re]VebIe 17.788 2,406 Expenditure on ralslng funds Unrestricted Unrestricted funds funds 2024 2023 Fundraising and publi¢ity Other fundraising costs 15.689 13.992 11
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Pension costs Family welfara- 2ccomodation Projects to develop Regimental Ethos Unit cohesion activities Family welfare activllles Bank fees Reglmental museum expensas Entertainment Soldier welfare 1,051 11,728 1,000 16,109 24,136 25 45,808 1.838 365 803 12.230 17.469 29,855 35.946 500 102,060 96.803 Grant funding of activities {5ee note 8) Share of govemano costs (see note 11} 62,934 139,856 63.892 118,691 304,850 279,386 Analysis by fund Unrestricted funds Restricted funds 260,400 44,450 255,761 23,625 304,850 279.386 Grants payable Total 2024 Total 2023 Grants to Institutions: Benevolence Soldier wetfare Adv trglsports Mental health resilience Remembran 37,053 34,218 3,400 16,500 6.390 3,3B4 18,660 6.400 821 62.934 63,892 12-
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 The net movement In funds is ststsd after chargingl(crediting): Fees payable for tha indep8ndent examination of the charity's financial statements Depreciation of owned langible fixed 8&8ets 2.497 1.660 2,296 1.636 10 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Employment costs 2024 2023 Olher pension costs 1,051 803 Ther8 Were no employees whose annual remuneration was more than £60.000. 11 Support costs 2024 2023 Independent examiners fees Trustee travel costs Stsff costs Depreciation Telephone & intemet Printing and stationary IT Insurance General expenses Employee travel Gala dinners 2,497 9,732 90.154 1,660 2.296 4,298 84.553 1.636 2,400 1.051 382 1.188 2.640 1,436 16,811 8,503 498 1.153 1,809 3.057 22,795 139,856 118,691 Analysed beiween Charitable activkties 139,856 118,691 12 Taxatlon The charity is exempt from taxallon on its activities because all its income is applied for charitable Purposes. 13-
SPECIAL RECONNAISSANCE REGIMENTALASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangible fixed as5els Equlprnent Cost At 1 April 2023 Addltions 10,117 2,705 At 31 March 2024 12.822 Depreciation and Impalrment At 1 April 2023 Depreciation charged in the year 5,331 1.660 At 31 March 2024 6.991 Carrylng amount At 31 March 2024 5,831 At 31 March 2023 4,786 14 Flxed asset investments Inveslmerrts Cost or valuation At 1 April 2023 Additions 25.000 800.000 At 31 March 2024 825,000 Carrylng amount At 31 March 2024 825,000 At 31 March 2D23 25.000 15 Credltors: amounts falllng due withln one year 2024 2023 Other creditors Accruals and deferred income 601 960 281 960 1,561 1.241 14-
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Endowmènt funds Endowment fvnds represenl assets which must be held permanently by the charity. In¢om¢ arislng on the endowment funds can be used in accordance with the objects of the charity and is included as unresthcied income. Any Capital galns or losses ar15ing on the assets fonn part of the fund. At 1 April 2023 Transfers At 31 March 2024 Pemianent endowment5 25,000 25.000 Prevlous year: At 1 April 2022 Transfe At 31 March 2023 Pernianent endowments 52.500 {27.500) 25.000 17 Restrictèd funds The restricted funds of the chaiity comprise the unexp8nded balances of donations and grants held on tnjst subject to specific conditions by donors as to how th8y rnay b8 used. At 1 April 2023 Incoming resource5 Resources At 31 March expended 2024 99,057 156.199 (44.450) 210,806 Previous year: At 1 Aprll 2022 Incoming Rosources At 31 March resources expended 2023 82.682 40.000 (23,625) 99.057 18 Unrestrlcted funds The unrestrieted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditlons by donors and grantors as lo how they may be used. These Include designated funds which have been Set aside out of unrestrictsd funds by th8 trustees for specific purposes, At 1 April 2023 Incoming resources Resour¢es At 31 March expended 2024 G8n8ral funds 1,225,641 519.902 (276,089) 1,469.454 15-
SPECIAL RECONNAISSANCE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Unrestricted funds (Continued) Previous y¢ar: At 1 April 2022 Incomlng Resources At 31 March resources expended 2023 Genéral funds 833,623 661,871 (269,753) 1.225,641 19 Anatysts of net assets botwaèn funds Total 2024 Total 2023 Fund balances at 31 March 2024 are represented b Tangible assets Investments Current assetsl(liabilities) 5.831 825,000 874,429 4,786 25,000 1.319.912 1.705,260 1,349.698 20 Related party transactlons There were no disclosable lated party transacttons during the year (2023- none). 16-