## 

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





## 

|||||Page|
|---|---|---|---|---|
|Chairman's||Statement|||
|Trustees'|report|||2-7|
|Statement||ofTrustees'|responsibilities||
|Independent||Auditor's|Report|9-12|
|Statement||of Financial|Activities|13|
|Balance Sheet||||14|
|Statement||ofCash Flows||15|
|Notes to the Financial|||Statements|16-28|





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||||||||As|restated||
|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||||funds|funds||funds|funds||
|||||2023|2023||2022|2022|2022|
|Incog~~|||Notes||E||E|||
|Donations<br>and legacies||||779,291|232,792|1,012,083|881,500|49,100|930,600|
|Charitable<br>activities||||14,272||14,272|157||157|
|Investments||||52,922||52,922|56,441||56,441|
|Total income||||846,485|232,792|1,079,277|938,098|49,100|987,198|
|Ex enditure on:||||||||||
|Raising funds||||225,476||225,476|232,159||232,159|
|Charitable<br>activities|||7|935,537|206,099|1,141,636|747,718|195,984|943,702|
|Total resources||||||||||
|expended||||1,161,013|206,099|1,367,112|979,877|195,984|1,175,861|
|Operating<br>result||||(314,528)|26,693|(287,835)|(41,779)|(146,884)|(188,663)|
|Net gains/(losses)||on||||||||
|investments||||(79,347)||(79,347)|170,673||170,673|
|Gross transfers|between|||||||||
|funds|||||||(11,000)|11,000||
|Net movement|in|funds||(393,875)|26,693|(367,182)|117,894|(135,884)|(17,990)|
|Fund balances|at 1 April|||||||||
|2022||||||||||
|As originally<br>reported||||2,484,512|169,983|2,654,495|2,226,050|446,435|2,672,485|
|Prior year adjustment|||18||||140,568|(140,568)||
|As restated||||2,484,512|169,983|2,654,495|2,366,618|305,867|2,672,485|
|Fund balances|at|31||||||||
|March 2023||||2,090,637|196,676|2,287,313|2,484,512|169,983|2,654,495|





## 

## 

|||||||2023||2022||
|---|---|---|---|---|---|---|---|---|---|
|||||||||as restated||
||||||Notes|||||
|Fixed assets||||||||||
|Investments|||||13||1,914,921||2,296,160|
|Current assets||||||||||
|Debtors|||||14|107,194||70,403||
|Cash at bank||and|in|hand||321,801||341,881||
|||||||428,995||412,284||
|Creditors:|amounts|||falling due within||||||
|one year||||||(56,603)||(53,949)||
|Net current|assets||||||372,392||358,335|
|Total assets||less|current liabilities||||2,287,313||2,654,495|
|Income funds||||||||||
|Restricted|funds||||18||196,676||'I69,983|
|Unrestr<br>t|f|n s||||||||
|Designated|funds||||19|1,550,000||2,000,000||
|General<br>unrestricted||||funds||540,637||484,512||
||||||||2,090,637||2,484,512|
||||||||2,287,313||2,654,495|





## 

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## 

|||||2023||2022||
|---|---|---|---|---|---|---|---|
||||Notes|||f.||
|Cash flows from operating||activities||||||
|Cash absorbed<br>by operations|||23||(374,894)||(297,139)|
|Investing|activities|||||||
|Proceeds|from disposal ofsubsidiaries|||||||
|Purchase|ofother investments|||(248,108)||||
|Proceeds|from disposal ofother investments|||550,000||399,865||
|Investment|income received|||52,922||56,441||
|Net cash|generated<br>from investing|||||||
|activities|||||354,814||456,307|
|Net cash|used in financing|activities||||||
|Net (decrease)/increase<br>in||cash and|cash|||||
|equivalents|||||(20,080)||159,168|
|Cash and|cash equivalents|at beginning|ofyear||341,881||182,713|
|Cash and|cash equivalents|at end of|year||321,801||341,881|





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|||Charitable|Charitable|
|---|---|---|---|
|||Income|Income|
|||2023|2022|
||||E|
||Other income|14,272|157|
|5|Investments|||



||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2023|2022|
|||||||f.|
||Income from|unlisted||investments|52,922|56,441|
|6|Raising funds||||||
||||||Unrestricted|Unrestricted|
||||||funds|funds|
||||||2023|2022|
||||||F||
||Fundraisin|and|ublicit||||
||Seeking donations,|||grants and legacies|6,383||
||Advertising||||1,204||
||Other fundraising||costs||16,690|45,518|
||Staff costs||||137,991|136,252|
||Support costs||||63,208|50,389|
||Fundraising|and publicity|||225,476|232,159|
||||||225,476|232,159|





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|||Televisions|Holidays|Entertain|Outings|Total|Total|
|---|---|---|---|---|---|---|---|
|||||ment||2023|2022|
|||2023|2023|2023|2023|||
|||f.|E|||||
|Staff costs||66,616|104,683|90,408|76,133|337,840|333,583|
|Direct Costs||23,253|266,869|328,288|14,353|632,763|486,753|
|||89,869|371,552|418,696|90,486|970,603|820,336|
|Share of support costs||||||||
|(see note 8)||30,515|47,951|41,413|34,873|154,752|109,594|
|Share ofgovernance||||||||
|costs (see note 8)||3,173|4,986|4,306|3,816|16,281|13,772|
|||123,557|424,489|464,415|129,175|1,141,636|943,702|
|Analysis<br>by|fund|||||||
|Unrestricted|funds|123,557|301,140|381,665|129,175|935,537|747,718|
|Restricted funds|||123,349|82,750||206,099|195,984|
|||123,557|424,489|464,415|129,175|1,141,636|943,702|



|||||Televisions|Holidays|Entertain|Outings|Total|
|---|---|---|---|---|---|---|---|---|
|||||||ment||2022|
|||||||E|||
|Staff costs||||65,776|103,364|89,269|75,174|333,583|
|Direct Costs||||27,464|161,489|281,741|16,059|486,753|
|||||93,240|264,853|371,010|91,233|820,336|
|Share ofsupport costs (see note 8)||||21,610|33,959|29,328|24,697|109,594|
|Share ofgovernance|||costs (see note 8)|2,715|4,267|3,685|3,105|13,772|
|||||117,565|303,079|404,023|119,035|943,702|
|Analysis|by|fund|||||||
|Unrestricted||funds||117,565|159,795|357,517|112,841|747,718|
|Restricted|funds||||130,017|65,967||195,984|
|||||117,565|289,812|423,484|112,841|943,702|





## 

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|8|Supportcosts|Supportcosts|Supportcosts|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Support|Governance|2023|Support|Governance|2022|
|||||costs|costs||costs|costs||
|||||||E||||
||Office Expenses|||95,700||95,700|92,198||92,198|
||Rent|||67,753||67,753|53,359||53,359|
||Employee|Related||39,103||39,103|4,167||4,167|
||Insurance|||15,404||15,404|4,635||4,635|
||Audit fees||||14,017|14,017||10,800|10,800|
||Governance||Costs||8,647|8,647||8,597|8,597|
|||||217,960|22,664|240,624|154,359|19,397|173,756|
||Analysed|between||||||||
||Fundraising|||63,208|6,383|69,591|50,389||50,389|
||Charitable||activities|154,752|16,281|171,033|109,594|13,772|123,367|
|||||217,960|22,664|240,624|159,983|13,772|173,756|



## 



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## 

|The average<br>monthly<br>number<br>ofemployees<br>during<br>th|e year was:||
|---|---|---|
||2023|2022|
||Number|Number|
|Employment<br>costs|2023|2022|
||F||
|Wages and salaries|408,528|405,682|
|Social security costs|36,465|29,581|
|Other pension costs|30,838|34,572|
||475,831|469,835|



|The number<br>of employees<br>whose annual<br>remuneratio<br>were:|n<br>was 260,000 or more||
|---|---|---|
||2023|2022|
||Number|Number|
|F70,000-f79,999|1|1|
|F100,000-F109,999|1|1|



## 

||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2023|2022|
|||||E|
|Revaluation|of|investments|(61,592)|154,553|
|Gain/(loss)|on|sale of investments|(17,755)|16,120|
||||(79,347)|170,673|



## 



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## 

|13|Fixed as|set investme|nts||||
|---|---|---|---|---|---|---|
|||||Listed|Cash in|Total|
|||||investments|portfolio||
|||||E|E||
||Cost or valuation||||||
||At 1 April|2022||1,945,394|350,766|2,296,160|
||Additions||||248,108|248,108|
||Valuation|changes||(61,592)||(61,592)|
||Disposals|||(317,755)|(250,000)|(567,755)|
||At 31 March 2023|||1,566,047|348,874|1,914,921|
||Carrying|amount|||||
||At 31 March 2023|||1,566,047|348,874|1,914,921|
||At 31 March 2022|||1,945,394|350,766|2,296,160|
|14|Debtors||||||
||||||2023|2022|
||Amounts|falling due|within one year:||E|E|
||Other debtors||||35,620|22,061|
||Prepayments<br>and accrued income||||71,574|48,342|
||||||107,194|70,403|
|15|Creditors: amounts||falling due within one year||||
||||||2023|2022|
|||||Notes||E|
||Other taxation<br>and social security||||11,940|16,381|
||Deferred|income||16|12,289|18,535|
||Trade creditors||||5,198|4,245|
||Accruals||||27,176|14,788|
||||||56,603|53,949|
|16|Deferred|income|||||
||||||2023|2022|
||||||E|E|
||Other deferred<br>income||||12,289|18,535|





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||||||||
|---|---|---|---|---|---|---|
|Deferred|income|||||(Continued)|
||||||2023|2022|
|Deferred|income is|included||within:|||
|Current|liabilities||||12,289|18,535|
|Movements<br>in the year:|||||||
|Deferred|income at|1 April 2022|||18,535|40,491|
|Released from previous|||periods||(18,535)|(40,491)|
|Resources deferred||in the year|||12,289|18,535|
|Deferred|income at|31|March|2023|12,289|18,535|



## 

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## 

|||||Movement||||
|---|---|---|---|---|---|---|---|
|||||in funds||||
||||Balance at|Incoming|Balance at|Transfers|Balance at|
||||1 April 2021|resources|1 April 2022|31|March 2023|
|Investment|Fund||2,000,000||2,000,000|(600,000)|1,400,000|
|Core Operarting||Cash Reserve||||150,000|150,000|
||||2,000,000||2,000,000|(450,000)|1,550,000|



|20|Analysis of|net assets|between|funds||||||
|---|---|---|---|---|---|---|---|---|---|
||||Unrestricted||Restricted|Total|Unrestricted|Restricted|Total|
|||||funds|funds||funds|funds||
|||||2023|2023|2023|2022|2022|2022|
|||||F|||E||E|
||Fund balances at 31|||||||||
||March 2023|are||||||||
||represented|by:||||||||
||Investments||1,914,921|||1,914,921|2,296,160||2,296,160|
||Current<br>assets/(liabilities)||175,716||196,676|372,392|188,352|169,983|358,335|
||||2,090,637||196,676|2,287,313|2,484,512|169,983|2,654,495|



## 

||2023|2022|
|---|---|---|
|||f.|
|Within one year|84,108|84,108|
|Between two and five years|164,789|248,897|
||248,897|333,005|





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|||2023|2022|
|---|---|---|---|
|||E||
|Aggregate|compensation|313,616|295,902|



## 

|In the year the spouse|of one|of the Trustees earned|of the Trustees earned|E3,131 (2022: E4,645) as an employee|E3,131 (2022: E4,645) as an employee|of the charity.|
|---|---|---|---|---|---|---|
|There were no other related<br>party transactions.|||||||
|Cash generated<br>from|operations||||2023|2022|
||||||E||
|Deficit for the year|||||(367,182)|(17,990)|
|Adjustments<br>for:|||||||
|Investment<br>income recognised||in statement|offinancial|activities|(52,922)|(56,441)|
|Loss/(gain)<br>on disposal|of investments||||17,755|(16,120)|
|Fair value gains and losses on||investments|||61,592|(154,553)|
|Movements<br>in working|capital:||||||
|(Increase)/decrease<br>in|debtors||||(36,791)|36,572|
|Increase/(decrease)<br>in|creditors||||8,900|(80,015)|
|(Decrease)<br>in deferred|income||||(6,246)|(21,956)|
|Cash absorbed<br>by operations|||||(374,894)|(310,503)|