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|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|
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|||||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|
##
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||||||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|
##
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||||||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|
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||||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|
##
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|||||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|
##
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|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|
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|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|
##
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##
|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|||
##
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##
|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:|||||||||
##
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|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|
##
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||||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|
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||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.|||||