2022-03-31-accounts

Trustees			Mr DJ Cowley OBE	Mr DJ Cowley OBE
			Mr J M Archer
			Mr M W Nicholls
			Colonel WJ Partridge
			Mr G C Hurstfield
			Dr C M Goble
			Commodore SJ	Scorer
			Group Captain J LGross
			Mr P Botterill
			Mr BPlummer
			Mr SWG Neel
			Mr S N Post
			Ms LJ Gibbard
			MrTMR Long
			Mr F Roseman
			Mr D Mason		(Appointed	1 June 2021)
Charity	number		1150541
Company		number	08302965
Registered		office	1st Floor
			14 Buckingham	Palace Road
			London
			SW1W OQP
Auditor			Alliotts LLP
			Friary Court
			13-21 High Street
			Guildford
			Surrey
			GU1 3DL

			Page
Chairman's	Statement		1-2
Trustees'	report
Statement	ofTrustees'	responsibilities	10
Independent Auditor's		Report	11-14
Statement	of Financial	Activities	15
Balance Sheet			16
Statement	ofCash Flows		17
Notes to the Financial		Statements	18-29

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
				2022	2022		2021	2021	2021
			Notes	F	F		F	F
Income from:
Donations and legacies				870,500	60,100	930,600	638,991	295,750	934,741
Charitable activities				157		157	(260)	-	(260)
Investments				56,441		56,441	62,100		62,100
Total income				927,098	60,100	987,198	700,831	295,750	996,581
Ex enditure on:
Raising funds				232,159		232,159	226,984		226,984
Charitable activities				747,718	195,984	943,702	643,786	211,562	855,348
Total resources
expended				979,877	195,984	1,175,861	870,770	211,562	1,082,332
Operating result				(52,779)	(135,884)	(188,663)	(169,939)	84,188	(85,751)
Net gains/(losses)		on
investments				170,673		170,673	370,284		370,284
Gross transfers	between
funds							(56,380)	56,380
Net movement	in	funds		117,894	(135,884)	(17,990)	143,965	140,568	284,533
Fund balances at 1 April
2021				2,226,050	446,435	2,672,485	2,082,085	305,867	2,387,952
Fund balances	at	31
March 2022				2,343,944	310,551	2,654,495	2,226,050	446,435	2,672,485

					2022		2021
				Notes	f
Fixed assets
Investments				12		2,296,160		2,525,353
Current assets
Stocks				14			13,364
Debtors				15	70,403		106,975
Cash at bank		and in	hand		341,881		182,713
					412,284		303,052
Creditors:	amounts		falling due within
one year				16	(53,949)		(155,920)
Net current	assets					358,335		147,132
Total assets		less current liabilities				2,654,495		2,672,485
Income funds
Restricted	funds			18		310,551		446,435
Unrestricted		funds
Designated	funds			19	2,000,000		2,000,000
General unrestricted			funds		343,944		226,050
						2,343,944		2,226,050
						2,654,495		2,672,485

					2022		2021
			Notes	f
Cash flows from operating		activities
Cash absorbed by operations			24			(297,139)		(188,120)
Investing	activities
Proceeds	from disposal ofsubsidiaries
Purchase	ofother investments						(500,000)
Proceeds	from disposal ofother investments			399,865			150,000
Investment	income received			56,441			62,100
Net cash	generated from/(used in)
investing	activities					456,307		(287,900)
Net cash	used in financing	activities
Net increase/(decrease) in		cash and	cash
equivalents						159,168		(476,020)
Cash and	cash equivalents	at beginning	ofyear			182,713		658,733
Cash and	cash equivalents	at end of	year			341,881		182,713

			Charitable	Charitable
			Income	Income
			2022	2021
Sales	within charitable	activities		(262)
Other	income		157	2
			157	(260)

Unrestricted	Unrestricted
funds	funds
2022	2021
	F
56,441	62,100

			Unrestricted	Unrestricted
			funds	funds
			2022	2021
				F
Fundraisin	and	ublicit
Other fundraising		costs	45,518	44,859
Staff costs			136,252	134,741
Support costs			50,389	47,384
Fundraising	and	publicity	232,159	226,984
			232,159	226,984

				Televisions	Televisions	Holidays	Entertain	Outings	Total	Total
							ment		2022	2021
					2022 K	2022f	2022 F	2022 F
Staff costs				65,776		103,364	89,269	75,174	333,583	329,883
Direct Costs				27,464		161,489	281,741	16,059	486,753	409,456
				93,240		264,853	371,010	91,233	820,336	739,339
Share of	support costs (see
note 8)				21,610		33,959	29,328	24,697	109,594	106,515
Share of	governance		costs
(see note	8)			2,715		4,267	3,685	3,105	13,772	9,494
				117,565		303,079	404,023	119,035	943,702	855,348
Analysis	by	fund
Unrestricted		funds		117,565		159,795	357,517	112,841	747,718	643,786
Restricted	funds					143,284	46,506	6,194	195,984	211,562
				117,565		303,079	404,023	119,035	943,702	855,348
For the year		ended	31 March 2021
						Televisions	Holidays	Entertain	Outings	Total
								ment		2021
Staff costs						65,047	102,217	88,279	74,340	329,883
Direct Costs						48,985	39,267	116,480	204,724	409,456
						114,032	141,484	204,759	279,064	739,339
Share of	support costs (see			note 8)		21,003	33,005	28,504	24,003	106,515
Share of	governance		costs	(see note	8)	1,873	2,942	2,540	2,139	9,494
						136,908	177,431	235,803	305,206	855,348
Analysis	by	fund
Unrestricted		funds				136,908	160,249	235,803	110,826	643,786
Restricted	funds						17,182		194,380	211,562
						136,908	177,431	235,803	305,206	855,348

8	Support costs	Support costs	Support costs
				Support	Governance	2022	Support costs	Governance	2021
				costs	costs			costs
				F		F		F
	Office Expenses			92,198		92,198	75,390		75,390
	Rent			53,359		53,359	47,387		47,387
	Employee	Related		4,167		4,167	13,621		13,621
	Insurance			4,635		4,635	13,623		13,623
	Audit fees				10,800	10,800		8,160	8,160
	Governance		Costs		8,597	8,597		5,212	5,212
				154,359	19,397	173,756	150,021	13,372	163,393
	Analysed	between
	Fundraising			44,765	5,624	50,389	37,246	4,863	42,109
	Charitable		activities	109,594	13,773	123,367	106,515	9,494	116,009
				154,359	19,397	173,756	128,439	16,772	145,211

The average	monthly number ofemployees during th	e year was:
		2022	2021
		Number	Number
			10
Employment	costs	2022	2021
		F
Wages and salaries		405,682	388,238
Social security costs		29,581	32,786
Other pension costs		34,572	43,600
		469,835	464,624

The number of employees whose annual remuneratio were:	n was F60,000 or more
	2022	2021
	Number	Number
F60,000-F69,999		1
F70,000-F79,999		1
F100,000-F109,999		1
F100,000-F109,999

			Unrestricted	Unrestricted
			funds	funds
			2022	2021
				F
Revaluation	of	investments	154,553	349,971
Gain/(loss)	on	sale of investments	16,120	20,313
			170,673	370,284

Fixed asset inves	tments
		Listed	Cash in	Other	Total
		investmentsf	portfolio f	investments
Cost or valuation
At 1 April 2021		2,074,721	450,631	1	2,525,353
Valuation changes		154,553			154,553
Disposals		(283,880)	(99,865)	(1)	(383,746)
At 31 March 2022		1,945,394	350,766		2,296,160
Carrying amount
At 31 March 2022		1,945,394	350,766		2,296,160
At 31 March 2021		2,074,721	450,631	1	2,525,353
				2022	2021
Other investments	comprise:		Notes
Investments in subsidiaries			23

13	Financial instruments	Financial instruments						2022	2021
									F
	Carrying	amount of	financial assets
	Instruments measured		at fair value through		profit or loss			1,945,394	2,074,721
14	Stocks
								2022	2021
	Finished	goods and goods for resale							13,364
15	Debtors
								2022	2021
	Amounts falling due		within	one year:
	Other debtors							22,061	81,211
	Prepayments and accrued income							48,342	25,764
								70,403	106,975
16	Creditors: amounts		falling	due within one year
								2022	2021
							Notes
	Other taxation and social security							16,381	11,547
	Deferred	income					17	18,535	40,491
	Trade creditors							4,245	2,541
	Amounts	owed to subsidiary		undertakings					1
	Accruals							14,788	101,340
								53,949	155,920
17	Deferred	income
								2022	2021
	Other deferred income							18,535	40,491
	Deferred	income is included		in the financial	statements	as follows:
								2022	2021
	Deferred	income is included		within:
	Current	liabilities						18,535	40,491
	Movements in the year:

Deferred income				(Continued)
Deferred income at	1 April 2021		40,491	35,701
Released from previous		periods	(40,491)	(35,701)
Resources deferred	in	the year	18,535	40,491
Deferred income at	31	March 2022	18,535	40,491

					Movement	in funds
				Balance at	Incoming	Resources	Balance at
				1 April 2021	resources	expended 31	March 2022
NMA				5,000		(5,000)
Other				867		(867)
NWB	Headley	Court		300,000		(100,000)	200,000
Armed	Forces	Covenant	Fund	140,568		(30,017)	110,551
JTI					52,100	(52,100)
Royal	Naval Benevolant		Trust (RNBT)		8,000	(8,000)
				446,435	60,100	(195,984)	310,551

			Movement		Movement
			in funds		in funds
		Balance at	Incoming	Balance at	Incoming	Balance at
		1 April 2020	resources	1 April 2021	resources	31 March 2022
Investment	Fund	2,000,000		2,000,000		2,000,000
		2,000,000		2,000,000		2,000,000

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2022	2022	2022	2021	2021	2021
						F	F	F
Fund balances at 31
March	2022	are
represented		by:
Investments			2,296,160		2,296,160	2,525,353		2,525,353
Current	assets/(liabilities)		47,784	310,551	358,335	(299,303)	446,435	147,132
			2,343,944	310,551	2,654,495	2,226,050	446,435	2,672,485

	2022	2021
Within one year	84,108	38,686
Between two and five years	248,897	2,883
	333,005	41,569

	Name of undertaking	Registered	Registered	Nature ofbusiness	Class	of % Held	of % Held
		office			shares	held Direct	Indirect
	NFA Trading Limited	England		Dissolved - May 2021	Ordinary 100.00
24	Cash generated from	operations				2022	2021
	(Deficit)/surpus for the	year				(17,990)	284,533
	Adjustments for:
	Investment income recognised		in statement	offinancial activities		(56,441)	(62,100)
	Gain on disposal of investments					(16,120)	(20,313)
	Fair value gains and losses on		investments			(154,553)	(349,971)
	Movements in working	capital:
	Decrease/(increase) in	stocks				13,364	(10,300)
	Decrease/(increase) in	debtors				36,572	(64,594)
	(Decrease)/increase in	creditors				(80,015)	29,835
	(Decrease)/increase in	deferred	income			(21,956)	4,790
	Cash absorbed by operations					(297,139)	(188,120)
25	Analysis ofchanges	in net funds
	The charity had no debt during		the year.