2021-12-31-accounts

“We have both suffered emotionally. I questioned myself in the early years if I was over thinking the situation, but if you truly know an individual, and there is a problem, seek professional help. Help is out there, it’s nothing to be ashamed of and never give up. I cannot thank WWTW enough for the support that they have given us.”

wwtw.org.uk

Read Kerry and Martin’s story in this year’s Annual Report 2021

ANNUAL REPORT 2021

Includes Report & Accounts for year ended 31 December 2021

Walking With The Wounded

Walking With The Wounded

Martin was 19 years old when he was deployed to Iraq. When his role transitioned from combat soldier to peace keeping mission, the challenges were immense and sometimes overwhelming. One fateful encounter with a group of looters, turned to tragedy when a young Iraqi man lost his life.

CONTENTS

— Kerry and Martin’s story[3] — Chairman’s report[4] — Our year in numbers[5] — CEO’s report[7] — How we raised and spent your money[9] — Key highlights 2021[10] — Operational report[13] — WWTW’s Regional Integrated Model[14] — Fundraising report[16] — Trustees’ report[17] — Auditor's report[22] — Financial statements[24] — Thank you’s[36]

“I didn’t want to say that I was broken and that I badly needed help, but I couldn’t go on without support. It turned out that the mental health support team at WWTW were the ones that gave me the help that I needed, and they were phenomenal. Carolyn at Head Start, was incredible and so supportive. I always knew that if I ever needed her, she was at the end of the phone and ready to speak to me.” – Martin

e and three other colleagues were charged with manslaughter and received a General’s Court Martial. H In 2006, Martin was unreservedly cleared of all the charges against him but by this time his military career was over.

e and three other colleagues were charged with manslaughter and received a General’s Court Martial.

In the years that followed, Martin started to suffer from depression, anxiety and PTSD and he would use alcohol and drugs to ‘manage’ his symptoms. He was withdrawn and angry and his marriage to his wife, Kerry, faltered as he was unable to cope with family life. Ultimately, in 2015, Martin walked out and left the family home, but his mental health continued to deteriorate and eventually he was hospitalised.

His wife, Kerry, suffered from extreme anxiety as she struggled to support Martin and to raise a family. WWTW’s mental health programme, helped and supported them - both as individuals and as a couple.

‘My Head Start Therapist had a really calming effect and gave off such good vibes. We talked, she listened, and she really understood what I was dealing with. She taught me how to understand what my husband was going through and encouraged us to use different techniques to communicate. Getting the right help and advice from a professional was invaluable.’ - Kerry

Up until this point, Martin had held down a job as an HGV driver. However, the medication he was prescribed in hospital made it impossible for him to concentrate and function properly and he was unable to work. With the help of his close family, he visited a different GP, who knew his history and who understood that he was suffering. The GP prescribed new, improved medication and Martin began to stabilise and improve.

As part of their therapy, they were introduced to other veterans in similar situations. This helped to heal wounds, develop greater understanding, and forge new and supportive friendships. It also helped them to move forward with their lives.

In 2018, he moved back into the family home with Kerry and their two children. He was referred to WWTW’s Mental Health Programme (Head Start) and introduced to their Clinical Lead, Carolyn.

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Walking With The Wounded

Walking With The Wounded

BEING PART OF THE SOLUTION OUR YEAR IN NUMBERS

CHAIRMAN’S STATEMENT

I wrote last year of the seismic shift away from so many things we considered to be normal, and in hindsight, very much took for granted.

organisational structure of the Charity, seeking to make improvements where and when required. Our public profile continues to grow. I am always delighted to find that when talking about the Charity, how well known it has become. The importance of our public profile is paramount; assisting us in finding those who need our help, to establishing contact with our wonderful supporters, both public and corporate.

certainly did not envisage that when writing a year later we would still be facing many challenges. Walking With The Wounded Iresponded very quickly to the arrival of the pandemic. The changes made to the way we operated have continued to enable us to be flexible and efficient, as we experienced the ebbs and flows of last year.

As Herodotus wrote in The Histories, Book 7, “circumstances rule men; men do not rule circumstances.” From our politicians to people in all walks of corporate and private life, we have had to adapt, change, and exhibit enormous flexibility. The management and staff of the Charity have exhibited all these key attributes, with undiminished determination and enthusiasm to continue assisting our clients.

The environment within which we operate will continue to be challenging for a long time to come. Irrespective of how and when the pandemic recedes, we still face the challenge of reminding and explaining to our caring and generous supporters, how our work continues. In particular, the challenges of mental health resulting from the past experiences of our clients, show no signs of abating.

As you will see from our CEO’s report, we have successfully delivered on our key targets, continuing to increase our ability to assist our clients and, most significantly, increase the level of funds raised in a most challenging environment. This is a remarkable outcome and one that I am most proud to report. On behalf of my fellow Trustees, I congratulate every member of the team for how they have continued to deal with these difficult circumstances, not just maintaining the status quo but enlarging our ability to help our veteran community.

To those who support, work for, and assist Walking With The Wounded, I cannot thank you enough for making it such a special organisation. The gratitude of those who we help, is boundless.

Dick Turpin

I have also previously reported on the importance that the Board of Trustees attaches to the long-term viability of the organisation. I am very pleased to report that from a financial perspective we have grown our reserves further improving the financial health of Walking With The Wounded, whilst continuing to increase the help and assistance we offer.

Under the excellent leadership of our CEO Fergus Williams, the organisation continues to mature and develop. We regularly review the

In 2021 WWTW supported 3009 We delivered over veterans ~~30~~ 00 hours of therapy 608

veterans supported through our mental 7% increase health programme compared to 2020 Therapy delivered within 7 miles of a veteran's home and 7 days from referral

people joined OP-REGEN 170 volunteer network

31forcesPolice are working with Project Nova

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Walking With The Wounded

Walking With The Wounded

BEING PART OF THE SOLUTION OUR YEAR IN NUMBERS

OP-REGEN operating in North East & West, expanding to Scotland in 2022

Thanks to WWTW & Project Nova a total of

419 paid employment outcomes were secured. An increase of 16% on 2020

A total of An increase of 16% on 2020 12,710 veterans supported since 2010 Project Nova)(Including 78p of every £1 raised is used on client care

31,000 trees planted with OP-REGEN our volunteer programme

with the remainder invested in governance and raising the next £1

CEO’S STATEMENT

2021 has been a year of huge challenges and uncertainty.

Our relationships with the NHS have continued to be strong and deep and in turn our support from the NHS has grown. We believe the NHS is the universal provider to all citizens of the UK and we continue to deliver programmes in support of the NHS and enhancing NHS service delivery where we can. This mutually beneficial relationship continues to add real value to us and enhance outcomes for our clients.

alking With The Wounded has navigated the environment with confidence and optimism born out Wof a successful 2020 grappling with home-based workforce, the inability to meet clients face to face and the curtailment of fundraising events that provide the vital funds to allow us to fund our services to our clients.

We set ourselves three key targets to deliver in 2021. Firstly to continue to deliver operational excellence through our four key programmes of Employment, Mental Health, Care Coordination and Volunteering. To achieve this we doubled down on our core value of client first, ensuring that clients were at the heart of every management and person-centric decision we made. Secondly to ensure that our frontline staff were supported with the right resources and empowerment to make good decisions to enable better outcomes for our clients and staff whilst we all continued to work from home. Thirdly, to protect the financial position of the charity by ensuring a flexible and agile fundraising strategy that focused on strong relationships with Corporates, The NHS and Trust and Foundations.

Operationally we have supported more veterans this year (6% more) and we do not see this number decreasing. More veterans are asking for our support with noticeable increased complexity of need and we will continue to work in collaboration with other service charities to ensure that we can support this cohort.

It has been a year of uncertainty for our fundraising and we restructured the team to be more flexible and agile focusing on relationships and being able to provide better data to underpin our fundraising asks of our donors. Revenue has grown and has allowed us to reinvest some of our surplus to enhance our service delivery during 2022.

Looking forward, we are focused on continuing the roll out of our regional integrated services and to capture the learning from lockdown by establishing a new remote digital care team that can provide better step down care to our clients and deliver better long-term outcomes for them.

We have successfully delivered on these key targets, showing growth in operational outcomes for our clients and increased fundraising outturn in very uncertain times. This is a testament to the whole team here at Walking With The Wounded and it has been an honour to lead them.

We are a people business delivering care to veterans and I would like to thank our whole team for their dedication and tenacity in what has been a challenging and successful year. Thank you.

Home working has been a huge challenge and great efforts have been made to support and engage our staff and to allow them to be part of the solution. Investment in our staff has paid real dividends, they are committed, loyal and empowered. This focus on staff has enhanced our positive culture within the charity and allowed staff to be more resilient through the isolation of homeworking and the gradual return to offices and faceto-face client delivery.

Fergus Williams WWTW CEO

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Walking With The Wounded
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“In some ways, WWTW saved my life. After leaving the Army, I was totally lost and had no idea what I wanted to do. My Employment Adviser, Lynsey went through career ideas based on my skills and interests. It really opened my mind to the possibilities. Driving home after one of our meetings, I saw a lorry and it clicked in my head – I decided that I wanted to be a truck driver.’ ‘Lynsey secured all the funding that I needed to take my HGV course. I really have a lot to thank her for – my life had felt stationary until she got it moving again. Although I’ve now got a secure job, she still regularly keeps in touch just to make sure everything is going ok.”

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Income Expenditure
5,6
4
9 1
3
1
2
£5,048,576 8 £4,009,247
3
7
4
2 6
5
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HOW WE RAISED AND SPENT YOUR MONEY

Walking With The Wounded beneficiary, Anas.

1 - Donations £1,824,705 2 - Statutory £2,095,627 3 - Events and Volunteer Fundraising £854,378 4 - Sponsorship* £264,975 5 - Other Income £8,684 6 - Investments £207 Total £5,048,576

1 - Raising Funds £864,062 2 - Expedition* £97,686 3 - Employment £463,057 4 - Mental Health £420,628 5 - Wellbeing £312,646 6 - Project Nova £330,452 7 - Project Nova - Regroup £207,767 8 - Regional and Community Services £559,178 9 - High Intensity Service £753,771 Total £4,009,247

*Our expeditions are fully funded by corporate sponsorship – and all money raised by them is spent on our programmes. As The Walk of Oman has been delayed into 2021 the sponsorship income has moved into the 2021 accounts

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Walking With The Wounded

Walking With The Wounded

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SEPTEMBER
In 2021, 128 teams came to our Cumbrian
Challenge and raised over £340,000, making
this our most successful Cumbria ever OCTOBER
WWTW host an international veteran’s
KEY HIGHLIGHTS 2021
football tournament at Peugeot
Ashfield Stadium in Glasgow
FEBRUARY
WWTW support a number
of Positive Pathways
projects including
Frontier Pipes & Drums
and Models For Heroes
OCTOBER
The President of
APRIL Walk Of Oman
the United States
of America and OP-REGEN Reimagined
in the UK –
Dr. Jill Biden team up with Latest WWTW
meet with WWTW City of Trees
JUNE and the Walk of to plant trees expedition
America team across Greater raising funds NOVEMBER
and awareness
Manchester Brian Wood’s
Ultimate Sacrifice
Challenge – running
a minimum of 25
marathons in 25 days
to remember the
635 fallen from the
JUNE Iraq and Afghanistan
NOVEMBER conflict raising
over a staggering
£169,000
JUNE
New fundraising challenge to mark
NOVEMBER
Armed Forces Day in partnership WWTW partners with Fighting With Pride to
with Keep Attacking support the LGBT+ veteran community with Christmas Cocktails in
mental health support via Head Start November at the Cavalry
and Guards Club in
London was a sell-out
JUNE success
JUNE
WWTW receives The
Dean Martin was one of our beneficiaries Queen’s Award for
who wanted to give something back by Voluntary Service
fundraising. He completed the West Highland
Our 3rd party activities are a key part of our
Way in 4 days unsupported. event fundraising strategy and a team of DECEMBER
13 made 2021 our most successful ever for
overseas treks, raising over £24,000 as they
battled the dunes of Wadi Rum, covering 100
miles in just four days
JULY
The WWTW North-East Over 1,200 participants
the Forces Support Hub from up and down the
celebrates its two year country came together
anniversary and raised £137,000
for Walking Home
For Christmas – with
Eddie Izzard runs more people than
31 marathons in 31 ever before returning
days for charities from previous years to
including WWTW make a difference
10 11
WWTW supports service
users in our Employment
Programme to 315 paid roles,
despite the pandemic
Project Nova
Poppy Pebble
relaunch
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Walking With The Wounded

Walking With The Wounded

OPERATIONAL REVIEW

As we moved through 2021, the UK began to return to some level of normality.

“I wish more people would reach out. It’s hard to ask for help but if you do then the help is there. My WWTW Employment Advisor, Chris, did so much more than just support me into work. His own experiences with mental health helped me to get a grip on my issues and guide me to where I am now.”

Walking With The Wounded beneficiary, Mark.

any service users welcomed the change but for others, their anxiety increased. WWTW services have Mcontinued without pause despite necessary changes imposed due to Covid-19. We have proven that we are able to flex between remote and face-to-face working as permitted, with significant credit due to our front line staff and central support functions.

In 2021 we will have supported more exservicemen & women than ever before. We now deliver four key areas of support; Employment, Mental Health, Care Coordination and Volunteering. Our Employment Programme, consisting of Employment Advisors around the UK, has supported 247 clients into paid employment this year. They continue to work closely with those partner organisations in which we are embedded, most notably the NHS veteran mental health teams, to bring our employment specialism alongside NHS treatment and support.

Our Head Start team, who deliver our Mental Health programme, continue to offer a firstclass service as we are seeing more, and often more complex, clients. The feedback from those completing therapy is excellent and this year we’ve been delighted to pilot support programmes with organisations such as Fighting With Pride; enabling them to make referrals for support for veterans in the LGBTQ+ community.

We have Care Coordination around the UK in slightly different guises. Our Veteran Liaison Support Officers operate within the NHS under Op Courage, supporting some of the most complex of our clients. We have remote Care Coordinators operating in the East and Scotland, enabling us to reach across a wider geography. And we have Care Coordinators in our regional hubs in the North, where their services are in increasing demand. We also provide Care Coordination in partnership with the Northern NHS Veterans Mental Health Transition Interventions and Liaison Services (TILS).

The volunteering support area (OP-REGEN) whilst not new to WWTW, has now been firmly established as our fourth key area of support. OPREGEN has proven to be an activity that is hugely popular with our clients, and beneficial to the communities in which we operate.

As well as our core support programmes we continue our partnership with The Forces Employment Charity (RFEA) to deliver Project Nova, to support veterans at risk of offending. In 2021 Project Nova has again increased those regions in which it is available supporting over 1,226 veterans.

As we look forward to 2022 our focus is on our regional support model. Our model allows us to deliver our four support programmes at the regional level. Ensuring that the service you receive - whether in the South East or North West - has, at its centre, WWTW’s passion to support those who served and our drive for Operational Excellence.

Crucially for 2022, many of our services are now at capacity, and we are delighted that the Board has signed off on a necessary – albeit conservative – level of reinvestment to enable us to increase front line support in key areas. The North East and North West are our two most developed regions, each with a physical WWTW hub base, in these areas we will increase the number of caseworkers to meet demand. In addition, we turn our attention to Scotland & the East of England as we begin to further develop those areas with the addition of new roles.

We look forward to 2022 with an anticipation that we will again see an increase in those needing support, with continued adaptability for whatever the world throws at us and with confidence that measured reinvestment will allow us to meet the needs of those who served.

Amy Franklin Operations Director (South & Central)

Tommy Watson Operations Director (North)

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Walking With The Wounded

Walking With The Wounded

THE REGIONAL INTEGRATED MODEL

Walking With The Wounded’s “Regional Integrated Model” is the term we use to describe our operations in a geographical area. Our model enables us to deliver our full range of services in that area; providing operational excellence to the ex-servicemen and women we support. Within the model are our four pillars of support; Employment, Mental Health, Care Coordination and Volunteering.

e are striving towards our Regional Integrated Model in a number of locations; we don’t yet have every W role delivering in every region. This is because Walking With the Wounded is a dynamic organisation and where we are approached to address an area of need, we will always respond if possible. This means that we have grown in response to demand for our services, and overtime have bolstered resource in that regional in line with the Regional Integrated Model.

“Integrated” is crucial. It means we have WWTW area specialists that work in unison to support the service user and their family. It also means we are integrated in the community & the NHS, collaborating with local partners to source the right support for our service users within their community – giving people a support network for the future as our intensive support begins to ease.

So what does it look like?

• We have Employment Advisors, embedded in the NHS and other partner organisations, to deliver intensive employment support to small caseloads of veterans. We operate to IPS (Individual Placement and Support) Principles and have two IPS centres of excellence.

• We have our Mental Health programme, Head Start. Head Start provides 1-2-1 private therapy for ex-service personnel with mild to

moderately severe mental health difficulties such as depression, anxiety, PTSD and adjustment disorder.

• We have those that provide care coordination. Our Veteran Liaison Support Officers operate within the NHS under Op Courage, supporting some of the most complex of our clients. We have Remote Care Coordinators operating in the East and Scotland, enabling us to reach across a wider geography. And we have Support Care Coordinators in our regional hubs in the North.

• We have our volunteering programme, OPREGEN, supporting local communities in the North East, North West and Scotland.

We have been established in the North East and North West for some time; delivering closest to the full Regional Integrated Model that we aim to provide. Our new area of focus is the East of England, where we have a new Regional Manager uniting the team and developing the region. As we look forward to 2023, we are exploring our further development in the South East and Scotland, again in response to demand for our services.

As an organisation, our attention is always on sustainable funding, taking care to expand when we are confident in the demand for - and longevity of - the support we provide. Our long-term aim is to deliver our Regional Integrated Model wherever it is required. Perhaps our ultimate aim is that it wouldn’t be required at all.

“The support and advice that WWTW provided, turned my life around. I still have my down days and I feel challenged every so often, but these are becoming fewer. I am a better person to be with and I feel my family love me more than ever and in turn I feel I have the right to love them back. I feel I am the father I want to be to my young children. I am so grateful. Thank you.”

Walking With The Wounded beneficiary, Matthew.

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Walking With The Wounded

Walking With The Wounded

Fundraising in 2021

Did you know that Sales jobs are the hardest vacancies to fill successfully for employers globally?

Trustees’ Report

4 Walking With The Wounded (WWTW) is a charity which operates as a company limited by guarantee, charity number 3 1153497 and is governed by its Memorandum and Articles of Association. During 2018, the charity registered with the Office of the Scottish Charity Regulator, no. SC047760. The charity 1 wholly owns Walking With The Wounded Trading Limited, registered at Companies House, no. 8612989. 2

Revenue

• 1 Donations & Fundraising £2,124,175 2 Statutory £2,095,627

• 3 Trading £828,567

• 4 Investment £207

COVID-19 Impact

ccording to Manpower Group the sales industry has been the top ten hardest jobs to fill in the last 9 years. The reason A for this, no matter what the advice guides say, is because sales jobs are hard.

It is easy to lose sight of the fact that fundraisers are salespeople. I believe that within the sales industry, fundraisers have one of the toughest roles to contend with. We do not sell a product with clear cost-savings or profit-enhancing benefits to a business; nor can we easily retain our customers through rolling maintenance contracts. What we have instead, is passion. Passion for the work we do, passion for the veterans and their families we’re trying to help, and passion for our donors, like you.

As Director of Income for Walking With The Wounded, I am incredibly proud of the team I work with. For me, this has been encapsulated throughout 2021; a year that has been incredibly tough for all of us, but a year in which the team will hit their income target so that our charity can continue to build on its incredible work. We have been able to do this because the team is made up of astounding individuals who are innovative, tenacious, and brilliant relationship-builders. There are almost too many highlights for the year which demonstrate these skills, but I would love to share a few which I believe best encapsulates our quality as a team.

Firstly, to bolster our fundraising during the pandemic, our team created an innovative partnership named ‘Longest Day’ with Brian Wood MC and Keep Attacking. This campaign raised £15k but importantly, aligned us with Brian and Keep Attacking and, through effective stewardship, drove Brian into doing his own challenge for us, the Ultimate Sacrifice. With our passionate team and an equally passionate supporter, the event has raised over £169,000 and counting.

Our tenacity as a team has never come into question despite these turbulent couple of years.

Despite believing we wouldn’t be able to organise it due to Covid-19, we safely and successfully ran the 2021 Cumbrian Challenge after a very long wait from the previous edition in 2019. 128 teams completed the course and made this the most successful Cumbria ever for Walking With The Wounded, with £339,000 raised from fundraising and corporate sponsorship, a huge achievement during the pandemic.

Quite movingly, 2021 has been a year in which we have had the highest number of clients fundraising for Walking With The Wounded and wanting to give back for the support they received from our charity. John Bauer and his brother, Mark swam the English Channel raising just under £4,000. John served as an officer in the RAF for over 20 years and his son-in-law was supported by WWTW. The list of supporters continues through Ian Gray’s Coast to Coast Speed March, Matt Burton’s 700 miles, Chris Marshall Hadrian’s Wall Trek, Kevin Bebb’s 5k run, Kara Sennet’s Ben Nevis Climb, Kev Flannigan’s ultra-marathon and many more.

Fundraising is a tough job, and I believe it always will be, but it’s made easier and worth the hardship through our generous supporters, and the difference we make with that support. Each member of my team believes that those who served, deserve.

If you believe that too, and you wish to help shape the lives and change the futures of those veterans that have landed on hard times, please get in touch with our amazing team on 01263 863 900 or [e-mail]

Joel Oxberry Director of Income

With the pandemic continuing throughout 2021 Walking With The Wounded continued to adopt the focus of being part of the solution. Our purpose has continued to revolve around keeping our staff safe, continuing to support our beneficiaries and providing solutions to our key partners.

Charitable activities were successfully delivered to beneficiaries remotely and then moving back to face-to-face later in the year. The pandemic did impact the ability to raise income through fundraising events in the first half of 2021 but in the final four months of the year Walking With The Wounded delivered its two flagship fundraising events as well as the Walk of Oman (Reimagined in the UK) Expedition.

The trustees continued to monitor the risks from Covid-19 throughout the year but, through the continued hard-work, agility and focus of the team, are delighted that the Charity has continued to develop in line with the Strategic Plan agreed in September 2020.

Future Plans

As we look to 2022 and beyond, the reality is the economic impact resulting from the pandemic will continue to reverberate across the Third Sector. The increase of cost of living leading to the reduction in disposable income will be a fundraising challenge for all charities.

WWTW remains on track to deliver the three-year plan which recognised the risks ahead and focused on the creation of a national footprint through a Regional Service Model, establishing a flexible and agile fundraising approach and the development of a Marketing strategy to create innovative fundraising approaches.

Following key successes in 2021, WWTW has added a fourth programme to its regional service delivery and therefore will be delivering 4 key national programmes of Employment, Mental health provision, Care Coordination and Volunteering, serving regional communities reflecting the need locally.

Through the support of our key partners and supporters together with the agility of our team and tight cost control we are now in a position to confidently invest further in our regional services. During 2022 this will focus on expanding the existing services in the North East, North West and Scotland, as well as introducing a new regional service into the East of England.

• 5 1

• 4 Donations & Fundraising breakdown

• 2 1 Individuals £133,725 2 Corporates £546,785 3 Trusts & Foundations £1,140,743

• 3 4 Community Fundraising £239,934 5 3rd Party Events £59,536

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1 Expenditure
1 Raising Funds £864,062
2 2 Expeditions £97,686
3 Programme Delivery £3,047,499
3
Breakdown by Programme
1 1 Employment £463,057
6
2 Mental Health £420,628
2 3 Wellbeing £312,646
4 Project Nova £538,219
5 5 Regional and Community Services
3 £559,178
4 6 High Intensity Service / NCCP
£753,771
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Walking With The Wounded

Financial Review

In 2021, the charity reports a surplus, building reserves in line with the medium-term policy. WWTW raised £5,048,576 during 2021 (2020 - £4,195,614) and expended £4,009,247 (2020 - £3,694,715).

Of the £5,049k income in 2021, £2,096k is Statutory Income received in return for contracted services. The balance of income is reliant on the charity raising funds through Trusts & Foundations, Corporate Supporters and Fundraising Events. The pandemic continued to impact our fundraising in the first half of 2021 but through the efforts of our supporters and staff we were able to execute three major fundraising events in the last 4 months of the year.

The combination of this fundraising income and close financial management of the cost base, after all expenses, results in a net surplus of £1,039,329 (2020 – surplus £500,899). In achieving this result, the charity acknowledges the support received from its partners and key funders, especially the NHS, Armed Forces Covenant Fund Trust, Call of Duty Endowment and the RFEA.

Walking With The Wounded Trading Limited has benefited from income from Sponsorship relating to the Expedition completed in 2021 and the introduction of Corporate Partnership Packages. This has resulted in a profit of £128,184 (2020: loss of £2,784).

Going Concern

Given the uncertainty within the economic environment, the board has taken a cautious view of income generation in the 12-month outlook whilst forecasting the agreed investment in regional services from unrestricted funds.

The board of Trustees has considered the ability of the charity to continue as a going concern. They have reviewed budgets, management accounts and cash flow forecasts for 2022/23, and have concluded that the charity will have adequate resources to continue operations for the foreseeable future. Accordingly, the board believe that going concern basis remains the appropriate basis on which to prepare the financial statements.

Reserves Policy

At 31st December, the charity had reserves of £1,726,333 (2020 - £687,004) of which £1,310,355 (2020 - £505,024) are free reserves and £415,978 (2020 - £181,980) restricted reserves, all of which relate to expenditure on ongoing projects, and it is appropriate these restricted funds count towards target reserves.

The Charity’s target policy on reserves is to hold 6 months operational costs of delivering services to our often-complex beneficiaries, enabling us to source alternative support networks for those ex-servicemen and women, and 3 months administrative expenditure in the event of a wind down situation. This target is recalculated annually to ensure the growth in the charity is reflected – 2021 £1,040k (2020: £712k)

The trustees are committed to balancing the need to manage the risk on income and long-term reserves against ensuring that funds are reinvested to improve frontline services for our beneficiaries as soon as possible. On that basis it was agreed for 2022/2023 that £790k will be held as long-term reserves which continues to move towards the target reserves. In addition, £500k will be held as a working capital buffer in order to ensure that there is no disruption to services due to the short-term phasing risk on fundraising.

Any unrestricted funds generated over and above £1,290k will be reinvested into Charitable Activities in line with the Strategy and approved by the Board. The focus of reinvestment for 2022/23 will be to expand the existing services in the North East, North West and Scotland, as well as introducing a new regional service into the East of England.

Within the £4.9m total income in 2021 43% is Statutory Income. The balance of income is reliant on the charity raising funds in order to fund the regional services.

Whilst we have continued to improve our reserves position and therefore the confidence in the sustainability of our services, it is evident that demand for our services has never been higher; that raising income will continue to be a challenge in this economic climate and therefore we will continue to need support from both existing and new funders.

Fundraising

Walking With The Wounded complies with the Fundraising Regulators standards and has committed to treat all donors in a legal, open, honest and respectful way. Vulnerable people are protected by ensuring the adherence to these standards. No agencies were employed in 2021 to raise funds from the public. There were no formal complaints relating to fundraising in 2021. The General Data Protection Regulations were successfully implemented in May 2018.

Walking With The Wounded generates funds from three core streams: Voluntary Income, Trusts & Foundations and Statutory Income. Furthermore, the charity recognises that to create a sustainable entity which operates in the best long-term interests of their beneficiaries, a strategic aim must be to strike a balance between each of the income streams such that they do not become overly reliant upon any one source of funds.

Voluntary income: This source of funding is where an individual, groups of individuals or an organisation has made a conscious decision to donate, sponsor or participate in raising funds to support the charity. Voluntary income is underpinned by our own events such as the Cumbrian Challenge and Walking Home for Christmas, however it also encompasses income generated from corporate UK, major donors, schools and community fundraising.

Trusts and Foundations: This relates to income generated from grant giving Trusts & Foundations whose aim, via their own criteria and objectives, support those who sit within WWTW’s objects. Funding is usually restricted for a specific purpose; however, it can also be unrestricted and utilised as the charity sees fit at any given time. The charity regularly applies for funds from Trusts & Foundations, who focus on both ex-military personnel as well as those who focus on wider aspects of society.

Statutory Income: This relates to income received from the public purse in return for delivering a service to a statutory body such as an NHS Foundation Trust or related entity. This has continued to increase in 2021 due to the development of the NHS High Intensity Service.

The approach to fundraising is one of agility and relationship management, recognising the difficult economic environment following the pandemic and that multi-year funding provides a greater degree of income certainty to ensure the continued delivery of our programmes. We seek to develop long term relationships with both corporate, contract partners as well as via grant giving trusts and major donors.

Governance

WWTW Trustees and management are committed to conducting business in an ethical, fair, and transparent manner in line with the Charity Governance Code. We have a governance framework in place and are committed to fostering a culture of compliance that values integrity, accountability, and continuous improvement.

Leadership & Purpose

We have an engaged Board of Trustees with a diverse range of skills and experience supported by an effective Executive Team. The board membership is detailed on page 20. The board periodically reviews the organisation’s charitable purpose and the board together with the executive are responsible for the development and delivery of the Strategy.

The last Strategic Review took place in September 2020 to review the Charities response to the pandemic and the Charity has developed in line with the Strategic plans agreed.

Our charitable purpose is clearly communicated in our articles of association and throughout our internal and external communications to staff, beneficiaries and supporters.

The Objects of the Charity are:

1. To provide resettlement assistance and relief of financial and other charitable need for personnel who are leaving or have left the Armed Forces, in particular but not exclusively those who have been wounded whilst serving, including but without limitation, by providing funding for education and training to assist them in finding work and jobs and to attain the skills required to obtain and retain work outside the Armed Forces.

2. To provide relief of financial and other charitable need for the dependants of such persons

3. The promotion of social inclusion of current and former service personnel, in particular but without limitation of the UK, who are excluded from society or parts of society as a result of being wounded whilst serving, in particular by:

4. a . promoting knowledge and raising awareness of

   • their capabilities notwithstanding their injuries and - the special health, financial, educational, social and employment problems faced by them; and

5. b. providing them with opportunities to build capacity by

6. participating in expeditions and other activities to relieve their needs and to assist them to integrate into society.

Integrity

The values of our organisation are Client First, Collaboration, Respect, Empowerment and Integrity. These values are incorporated in our strategy, management approach, day to day working and staff engagement throughout WWTW.

Safeguarding - Creating a safe and welcoming environment, where everyone is respected and valued, is at the heart of safeguarding. WWTW believes that everyone we come into contact with, regardless of age, gender identity, disability, sexual orientation or ethnic origin has the right to be protected from all forms of harm, abuse, neglect and exploitation. All staff and workers who come into direct contact with vulnerable adults must undertake training on the subject of safeguarding.

Conflicts of interest - The Board has adopted procedures for the identification, authorisation (where appropriate) and monitoring

of situations which may give rise to a conflict of interest. Existing situations are recorded in a Related Parties register, reviewed by the Director of Finance at least annually.

Decision-Making, Risk and Control

Decision Making and control - Day-to-day management and the implementation of strategies agreed by the Board are delegated to the Executive Team. A formal delegation of authority is in place that sets out the powers that are reserved to the Board and those that are delegated to the CEO. There is also a formal structure setting out the delegations from the CEO to management and other employees.

The annually approved budget details the funding requirement of each programme and this is reviewed quarterly at Board meetings. The trustees review the activities and the support given to those who have served.

Policies

The Board and management have established controls and policies that are designed to safeguard the company’s interests and the integrity of its reporting. These include accounting, financial reporting, safety and sustainability and other internal control policies and procedures which are directed at monitoring whether the company complies with regulatory requirements and community standards.

Risk Management

The Board of Trustees accept that in managing the Charity and delivering its services there is an inherent level of risk. To manage the risk, the trustees have established procedures and a system of review to ensure that the level of risk is acceptable and that the controls are working. The day-to-day management of the Charity’s risk management process lies with the executive team who are responsible for implementing risk management policies. The risks are reviewed by the Board at each meeting and actions initiated to mitigate the risk.

The Board considers the following to be the main risks for Walking With The Wounded, and consider the following actions mitigate the risks.

1. Failure to achieve funding levels required. The Charity is focused on building reserves over the short to medium term to ensure that all its programmes can operate for a minimum of six months. Should no further funding be achieved, the Board believes six months is an appropriate amount of time for the Operations team to ensure those beneficiaries who are within the WWTW programmes can be provided with the necessary support that they require.

2. Vulnerability of WWTW beneficiaries. The Charity acknowledges that a number of its beneficiaries are highly vulnerable and are at risk on occasions to themselves and others. Within all our programmes we have detailed procedures and practices to ensure beneficiaries are managed in the most sympathetic and appropriate manner, and third parties are plainly aware of any risks which exist.

3. Breakdown of key strategic relationships. The Charity has a number of key strategic relationships, which are vital for the successful delivery of our programmes. We ensure there are regular management meetings between all key parties to ensure transparency and understanding to avoid any uncertainty and loss in confidence of all partners.

4. A member of an expedition team being killed or injured. By the nature of WWTW’s expeditions, there is an

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inherent physical risk to those taking part. The expedition management team go to considerable lengths to identify all risks which exist in and around the expedition, mitigate them where possible, and have procedures in place to react accordingly should an accident take place.

1. Reputational risk from adverse publicity. WWTW has a strong media profile, and the trustees are aware of the impact of negative news surrounding the Charity. The executive team have an agreed communication management process to ensure accurate and timely information is provided to all relevant stakeholders.

Board Effectiveness

The Board has a scheduled meeting once a quarter with the executive team to oversee the operations of the Charity and ad hoc meetings as required. Trustees receive comprehensive papers in advance of the Board meetings. Directors also receive regular updates in relation to key issues facing the Charity from time to time when a Board meeting is not scheduled.

WWTW is committed to ensuring that the composition of the Board continues to comprise trustees who, as a whole, possess the diversity of skills and experience required to fulfil the role and responsibilities of the Board.

The trustee appointment process, pre-requisites and maximum term is detailed the Articles of Association. All Trustees undergo a focused induction process on both the Charities Activities and their legal role and responsibilities as a trustee. Trustee training and updates are completed on an ongoing basis.

As of 31st December 2021, the Board membership was as follows:

Dick Turpin (Trustee and Chairman of the Board) Dick served with the Royal Regiment of Fusiliers and 7th Gurkha Rifles, between 1975 and 1988. He left the Army in 1988 to pursue a career in the financial sector. He retired at the end of 2018 as a Partner of Artemis Investment Management LLP, who were the lead sponsor of the 2011 North Pole expedition and Balmoral Challenge in 2017.

James Hibbert (Trustee)

James set up bespoke tailoring business Dress2Kill 15 years ago having previously worked for Austin Reed. James launched ‘The Q Club’ and The Great Retail Revival Foundation.

Flora McLean (Trustee)

Flora is a Partner in the structured and asset finance team at Freshfield Bruckhaus Deringer LLP in London. Flora’s husband served in the British Army.

Emma Peters (Trustee)

Emma served in the Army as a lawyer between 1992 and 2009 including service in Northern Ireland and the Balkans. She is now a Circuit Judge (appointed 2016). She began her judicial career as a part time legal chairman of the tribunal dealing with War Pensions and Armed Forces Compensation Scheme appeals. In 2010 she was appointed as an Assistant Judge Advocate General and then in 2012 as a Recorder of the Crown Court.

Guy Disney (Trustee)

Guy served with the Light Dragoons and was wounded in Afghanistan in 2009 after being hit by a rocket propelled grenade resulting in having his right leg amputated below the knee. Guy was one of the team who skied to the North Pole 2011, the Charity’s first endeavour to show the remarkable

determination and courage of our servicemen and women. Guy now works for The Royal Foundation.

Damian Beeley (Trustee)

Damian is a Partner at Haggie Partners, a leading financial PR and corporate communications consultancy in the City of London. Having begun his career in the City in 1990, he was then a financial journalist in Asia from 1994 to 1998. Since then, he has been advising companies and individuals on public relations and media engagement. Damian joined the Board on 7th December 2017.

Susan Walton (Trustee)

Susan is a Senior Finance and Media Executive and was appointed a Trustee on 6th December 2018. She has over 20 years of experience in global top-tier investment banks and most recently Founder and former Executive Chairman of Capx the economic and political digital media channel. Susan was educated at Harvard University and London Business School.

Louise Kavanagh (Trustee)

Louise is a qualified accountant (ACMA, CGMA), and works for Network Rail as a Finance Director. As well as financial management, Louise has a diverse range of experience, including business strategy and planning, commercial and supplier management, and organisational change delivery. Louise joined Walking With The Wounded as a Trustee in December 2019, having previously been a Trustee for the Charter Quality Institute.

Luke D’Arcy (Trustee)

Luke has over 25 years’ experience in advertising and marketing. He is UK President Momentum Worldwide, a leading global experiential agency and is a Harvard Business School alumni. Luke previously worked at Virgin as Partnership Director of their Formula 1 team.

Major General (Retired) Paul A E Nanson CB CBE

Paul was commissioned into the Royal Regiment of Fusiliers in 1986 and his early service included serving in Germany during the Cold War, in Northern Ireland during the troubles, Cyprus, Zimbabwe, Bosnia and in the First Gulf War. His last post in the Army was as Commandant of the Royal Military Academy Sandhurst. He retired from the Army in 2020 and has set up his own leadership business, consulting, coaching and speaking.

Adam Hughes (Trustee)

Adam was the Global Head of Transformation that represented over a third of PA Consulting Group and a Board Director at PA Consulting, the Innovation and Transformation consultancy. He is an experienced international business leader with an exceptional career built over the last 25 years. His significant international experience has been through leading teams focussing on the introduction of transformative technology and managing client relationships in the UK, Europe, the Nordics and MENA.

Adam Hughes was appointed as a Trustee on the 4th August, 2021.

Since 31 December 2021, Emma Peters resigned as a trustee on 15th March. The Board would like to thank Mrs Peters for her significant contribution.

Equality, diversity and inclusion

Our Pledge

Walking With The Wounded’s core values of Respect and Integrity drive our efforts to seek to promote Equity, Diversity

and Inclusion both within our organisation and in our community.

We understand the importance of building a diverse workforce to bring different experiences to our table helping us become more creative, challenge our thinking, and widen our reach. We aspire for people of all backgrounds to see Walking With The Wounded as an organisation where they feel welcome.

Our commitment to this vision will ensure veterans and their families are supported by accessible and inclusive programmes, and our external partnerships are with like-minded organisations.

Openness and accountability

The Board places great emphasis on communication and engagement with the Company’s stakeholders and is committed to providing transparent two-way communications.

These include the charity's website, Annual Report, quarterly newsletter together with an open and transparent process for tracking and handling complaints

The charity ensures the funds go directly to those who need to benefit and are not provided for funding of the administrative costs. Further detail of the disbursements committed during the year can be found in Note 5. The Board sets the salary of the Chief Executive and ensures levels of remuneration are similar to other charities operating in the same area and with revenues that are comparable to Walking With The Wounded. The Chief Executive is responsible for the remuneration of the executive management, and this is ratified annually by the Board of Trustees. The total remuneration for the executive management team can be seen in Note 6.

Public benefit

The trustees confirm that in planning their activities for the year, they have had due regard to the Charity Commission’s guidance on public benefit and there is clear benefit reflected in the programmes run by the Charity.

Statement of Trustees Responsibilities

The trustees (who are also directors of Walking With The Wounded for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• • make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the reparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Provision of information to auditors

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company’s auditor is unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Appointment of Auditors

Saffery Champness LLP have expressed their willingness to continue in office.

This report has been prepared in accordance with the special provisions relating to small companies within part 15 of the Companies Act 2006.

The Trustees’ Report was approved by the Board and signed on their behalf.

Dick Turpin

Chairman of the Board of Trustees 18th May 2022

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Independent auditor’s report to the members

Opinion

We have audited the financial statements of Walking With The Wounded (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended Should be 31 December 2021 which comprise the consolidated statement of financial activities, the balance sheets, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the affairs of the group and the parent charitable company as at 31 December 2021 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• • have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements

or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

Other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees’ Annual Report which includes the Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Trustees’ Annual Report which includes the Directors’ Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

• adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or

• • certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit. ;or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and to take advantage of the small companies exemption in preparing the Trustees’ Annual Report and the Strategic Report.

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 21, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and under the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities: We assessed the susceptibility of the group and parent charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charitable company by discussions with trustees and updating our understanding of the sector in which the group and parent charitable company operate.

Laws and regulations of direct significance in the context of the group and parent charitable company include The Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and guidance issued by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and

identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 , and to the parent charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the parent charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company and the parent charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Claire Wills

Senior Statutory Auditor 20th May 2022

For and on behalf of: Saffery Champness LLP Chartered Accountants, Statutory Auditors, 71 Queen Victoria Street, London EC4V 4BE

Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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Consolidated Statement of Financial Activities

For the year ended 31 December 2021

		Unrestricted	Restricted	12 months	12 months
		funds	funds	total funds	total funds
				2021	2020
Income from:	Notes	£	£	£	£
Donations and legacies Charitable activities Fundraisingand trading Investment income Total income	2 3 4	633,766 2,095,627 828,567 207 3,558,167	1,490,409 - - - 1,490,409	2,124,175 2,095,627 828,567 207 5,048,576	1,845,717 1,817,471 529,655 2,771 4,195,614
Expenditure on: Raisingfunds		864,062	-	864,062	729,930
Expeditions in support of wounded veterans Charitable activities: In support of veterans and their dependents		97,686 1,791,088	- 1,256,411	97,686 3,047,499	115,557 2,849,228
Total expenditure	5	2,752,836	1,256,411	4,009,247	3,694,715
Net(outgoing)/incomingresources		805,331	233,998	1,039,329	500,899
Net movement in funds		805,331	233,998	1,039,329	500,899
Total funds brought forward		505,024	181,980	687,004	186,105
Total funds carried forward	13	1,310,355	415,978	1,726,333	687,004

The Statement of Financial Activities contains all recognised gains and losses for the year.

As permitted c408 Companies Act 2006, the Charity has not presented its own Statement of Financial Activities.

All activities are continuing.

Balance Sheets

Consolidated and Charity balance sheets as at 31 December 2021

		Consolidated	Consolidated	Charity	Charity
		2021	2020	2021	2020
	Notes	£	£	£	£
Fixed assets	8	5,274	16,905	5,274	16,905
Investments	9	1	1	1	1
Current assets:
Stocks	10	3,437	3,609	-	-
Debtors	11	37,546	272,051	213,019	267,819
Cash at bank and in hand		2,577,181	1,636,736	2,251,930	1,428,096
		2,618,164	1,912,396	2,464,949	1,695,915
Creditors less than oneyear	12	(897,106)	(1,242,298)	(861,522)	(1,015,264)
Net current assets		1,721,058	670,098	1,603,427	680,651
Net assets		1,726,333	687,004	1,608,702	697,557
**Represented by: **
Restricted funds	13	415,978	181,980	415,978	181,980
Unrestricted funds		1,310,355	505,024	1,192,724	515,577
	13	1,726,333	687,004	1,608,702	697,557

The notes on pages 27 to 35 form part of these financial statements.

As permitted s408 Companies Act 2006, the Charity has not presented its own Statement of Financial Activities and related notes. The Charity’s net movement in funds for the year was £503,682 (2019: (£95,977))

The financial statements were approved by the Board of Trustees on 18th May 2022 and signed on their behalf by:

Dick Turpin Chairman of the Board of Trustees

Company registration number: 08612989

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Statement of Cash Flows

For the year ended 31 December 2021

Statement of Cash Flows For theyear ended 31 December 2021
	2021	2020
	£	£
Cash fows from operating activities
Net cash used byoperatingactivities	940,238	1,269,589
Cash fows from investing activities:
Interest received	207	2,771
Net cash used in investingactivities	207	2,771
Change in cash and cash equivalents in the reporting period	940,445	1,272,360
Cash and cash equivalents brought forward	1,636,736	364,376
Cash and cash equivalents carried forward	2,577,181	1,636,736

Reconciliation of net income/(expenditure) to the net clash flows from, operating activities

Reconciliation of net income/(expenditure) to the net clash fows from, operating activities
	2021	2020
	£	£
Net income (expenditure) for the reporting period
asper Statement of Financial Activities.	1,039,329	500,899
Depreciation charged	11,631	13,922
Interest received	(207)	(2,771)
(Increase)/decrease in stocks	172	1,511
(Increase)/decrease in debtors	234,505	289,665
Increase/(decrease)in creditors	(345,192)	466,363
Net cash used in operatingactivities	940,238	1,269,589

The only cash and cash equivalents in the period were cash at bank and in hand.

Notes to the financial statements For the year ended 31 December 2021

1. Accounting policies

Company Information

Walking With The Wounded is incorporated in England and Wales as a registered Charity and a limited company. The registered office is Stody Hall Barns, Stody, Melton Constable, NR24 2ED.

Walking With The Wounded has a wholly owned subsidiary company; Walking With The Wounded Trading Limited.

1.1 Basis of accounting

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Charity Commission Statement of Recommended Practice – Accounting and Reporting by Charities SORP (FRS 102) effective January 2019.

The Charity constitutes a public benefit entity as defined by FRS 102.

The financial statements reflect the income and expenditure of the Charity for the year ended 31 December 2021. The results of the Trading subsidiary has been consolidated on a line by line basis for the 12 month period ending on 31 December 2021.

No separate SOFA has been presented for the Charity alone as permitted by Section 408 of the Companies Act 2006. As most of the income from the subsidiary company is transferred to the Charity the view taken is that there is no significant difference between the Group and Company figures. The subsidiary is accounted for separately for management control purposes.

The financial statements have been prepared on the historical basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

1.2 Going concern

The Board has reviewed the estimated ongoing impact and risks to the Charity of the Covid-19 pandemic. There continues to be a risk to Events Fundraising Income in 2022 - However the agility of our Fundraising Team together with our strategic partner organisations continue to mitigate that situation.

The Board of Trustees has considered the ability of the Charity to continue as a going concern. They have reviewed budgets, management accounts and cash flow forecasts for 2022/23, together with the support available from partners organisations and have concluded that the Charity is satisfactorily placed to continue its operations and will have adequate resources to continue operations for the foreseeable future. Accordingly, the Board believe that going concern basis remains the appropriate basis on which to prepare the financial statements.

1.3 Critical accounting judgements and key sources of estimation uncertainty

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.

1.4 Fund accounting

1.4.1 Unrestricted Funds

These funds can be used for any of the Charity’s purposes.

1.4.2 Restricted Funds

These funds have been given to the Charity for a particular purpose to be used in accordance with the wishes of the donor.

1.5 Incoming resources

Income from investments, Gift Aid and deeds of covenant is included gross, and is accounted for when it is receivable or the Charity’s right to it becomes legally enforceable. Provision has been made for Income Tax reclaimable at the period end. Legacy income is included in the accounts when the amount due can be quantified with reasonable certainty and the timing of the receipt is known.

Incoming resources in the form of donated assets have been included in the SOFA at a reasonable estimate of their value, taking into account the market value of the assets and comments made by the donor.

Grants receivable are accounted for when there is sufficient information to enable the claim to be made or the claim has been made and there is clear indication to suggest the claim will be met. Income from expeditions, campaigns and events is recognised when received. All income is included in the period in which they conclude.

1.6 Resources Expended

Indirect costs are allocated to the expenditure headings in the SOFA on the basis of the time spent by employees in each area of work. Cost of Raising Funds consists of expenditure relating to appeals, communications requesting funds, applying for grants and other general publicity as part of fundraising together with associated support activities and cost of sales. Administration and Support of charitable activities consists of those incurred in support of expenditure on the objects of the Charity. These include the provision of the premises, personnel, and information technology and audit fees.

1.7 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans, which are subsequently measured at amortised cost using the effective interest method.

1.7.1 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount is offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7.2 Creditors and provisions for liabilities

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their

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1.11 Pension Costs

settlement amount after allowing for any trade discounts due. The group recognises a provision for annual leave accrued by employees as a result of services rendered in the current period and which employees are entitled to carry forward and use within the next 12-months. The provision is measured at the salary cost payable for the period of absence

The Charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are written off against incoming resources in the year they are payable. The assets of the scheme are held separately from the Trust in independently administered funds.

1.7.3 Investments

1.12 Finance and operating leases

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date. The Charity does not acquire options, derivatives or other complex financial instruments.

Rentals payable under operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred. The Charity has no finance leases.

1.8 Irrecoverable VAT

The Charity and its subsidiary have registered for VAT but cannot recover the total VAT incurred.

1.9 Tangible fixed assets

Fixed assets are capitalised where they cost over £750 and have an ongoing use to the Charity. Depreciation is charged on a 3 year straight line basis.

1.10 Stocks

Stocks are stated at the lower of cost and net realisable value, where cost comprises purchase price and any additional costs of bringing the goods to a saleable condition.

2. Donations and Legacies

2. Donations and Legacies
	Unrestricted	Restricted	Total 2021	Total 2020
Donations individuals	133,725	-	133,725	146,833
Donations corporates	157,373	389,412	546,785	283,266
Donations trusts	39,746	1,100,997	1,140,743	1,352,529
Legacies	3,452	-	3,452	-
Communityfundraisers	239,934	-	239,934	44,138
Other Events	59,536	-	59,536	18,951
	633,766	1,490,409	2,124,175	1,845,717

Income from Donations and Legacies in 2020 comprised of £380,647 unrestricted income and £1,465,070 restricted income. The restricted income related to £131,270 for Corporates and £1,333,800 from Trusts.

3. Charitable activities

3. Charitable activities
	Unrestricted	Restricted	Total 2021	Total 2020
Statutoryfunding	2,095,627	–	2,095,627	1,817,471

The Statutory Funding in 2021 consisted of:

• Multi year contract funding from NHS England and NHS Improvement (Health And Justice) towards Project Nova services for veterans in police custody.

4. Fundraising and trading

	4. Fundraising and trading
		Total	Total
		2021	2020
	Fundraisingevents	554,908	499,313
	Sponsorshipand other tradingincome	264,975	18,725
	Sales andpublicity	600	-
	Other income	8,084	11,617
		828,567	529,655

The income for Fundraising events represents the income received for those events that were completed in 2021. A number of events were postponed until 2020 due to Covid-19 and any income received in 2020 relating to these events has been released into 2021 as events have been completed.

5. Resources expended

5. Resources expended	5. Resources expended	5. Resources expended
Direct Costs Staff £ Other £ Total Direct £ Staff £ Support Costs Other £ Total £ Total 2021 £
RaisingFunds 358,434 334,307 692,741	71,565 99,756 171,321	864,062
Expeditions 83,992 83,992	13,694 13,694	97,686
Employment 318,489 43,135 361,624	63,589 37,844 101,433	463,057
Mental Health 88,465 300,330 388,795	17,663 14,170 31,833	420,628
Wellbeing 221,663 16,330 237,993	44,257 30,396 74,653	312,646
Project Nova 1,550 319,979 321,529	310 8,613 8,923	330,452
Project Nova - Regroup - 207,767 207,767	- - -	207,767
Regional and Com. Services 298,815 102,464 401,279	59,661 98,238 157,899	559,178
High IntensityService / NCCP 527,799 10,388 538,187	105,380 110,204 215,584	753,771
Charitable Activities: 1,456,781 1,000,393 2,457,174	290,860 299,465 590,325	3,047,499
Total Resources Expended 1,815,215 1,418,692 3,233,907	362,425 412,915 775,340	4,009,247
Charitable Expenditure 1,456,781 1,084,385 2,541,166	290,860 313,159 604,019	3,145,185
Expenditure is specifcally attributed to Charitable Activities where possible. Other	expenditure is allocated on the basis o	f the

Expenditure is specifically attributed to Charitable Activities where possible. Other expenditure is allocated on the basis of the payroll cost directly employed in each activity.

	payroll cost directly employed in each activity.
		2021	2020
	Resources expended include	£	£
	Auditors remunerations - for audit	15,535	18,910
	Auditors remunerations - for other services	3,500	12,225
	Depreciation	11,631	13,922
	Support Costs - other include
	PR and communications	24,762	49,169
	Travel and subsistence Offce costs IT	80,156 113,949 104,386	33,759 137,855 97,572
	Other staff costs	50,611	22,111
	Legal andprofessional	5,845	13,995
	Finance costs	6,593	17,076
	Governance	18,621	18,937
	HR and Training	7,992	35,310
		412,915	425,784
	Support costs include the PR, advertising, travel, offce accommodation and other costs required to facilitate the Charity		meeting
	its objects.

• Multi year contract funding from NHS England and NHS Improvement (Armed Forces Health) towards our mental health and care coordination teams delivered in partnership with the NHS TILS, CTS & HIS services.

• Multi year contract funding from NHS England and NHS Improvement (Armed Forces Health) towards Family Support and Employment

Income from Statutory Funding in 2020 was unrestricted.

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Prior Year Resources Expended

Prior Year Resources Expended
		Direct Costs			Support Costs		Total
	Staff £	Other £	Total Direct £	Staff £	Other £	Total £	2020 £
RaisingFunds	301,809	304,519	606,328	41,180	82,422	123,602	729,930
Expeditions in support of wounded veterans11,999		98,644	110,643	1,637	3,277	4,914	115,557
Employment	241,436	81,808	323,244	32,942	65,935	98,877	422,121
Mental Health	56,815	274,750	331,565	7,752	15,516	23,268	354,833
Wellbeing	245,332	51,160	296,492	33,474	66,999	100,473	396,965
Project Nova	46,944	401,674	448,618	6,405	12,820	19,225	467,843
Project Nova -Regroup	-	183,866	183,866	-	-	-	183,866
Regional and CommunityServices	166,007	43,067	209,074	22,650	45,336	67,986	277,060
High IntensityService / NCCP	488,762	57,613	546,375	66,688	133,477	200,165	746,540
Charitable Activities:
In support of Veterans and dependents	1,245,296	1,093,938	2,339,234	169,911	340,083	509,994	2,849,228
Total Resources Expended	1,559,104	1,497,101	3,056,205	212,728	425,782	638,510	3,694,715
Charitable Expenditure	1,257,295	1,192,582	2,449,877	171,548	343,360	514,908	2,964,785

8. Fixed assets

8. Fixed assets
		2021		2020
	Offce Equipment		Offce Equipment
	& Fixtures		& Fixtures
Group and Charity		£		£
Cost:
At 1 January		78,602		78,602
Additions in theyear		-		-
Eliminated on disposal		-		-
At 31 December		78,602		78,602
Depreciation:
At 1 January		61,697		47,775
Charge for theyear		11,631		13,922
Eliminated on disposal		-		-
At 31 December		73,328		61,697
Net book value:
At 31 December		5,274		16,905

All fixed assets are used for charitable purposes.

9. Investments

6. Staff costs

6. Staff costs
Staff costs: Wages and salaries National Insurance	1,888,043 178,970 2021 £	1,530,219 146,515 2020 £
Pension	110,627 2,177,640	95,099 1,771,833
	2021	2020
The average number of employees duringtheperiod was:	58 Number	46 Number
	2021 Number	2020 Number
The number of employees whose emoluments exceeded £60,000 were:
£60,000 – £70,000 £70,000 – £80,000	1 -	- 1
£80,001 – £90,000 £90,001 – £100,000	1 -	- 1

Key Management Personnel comprise the Chief Executive, and the Executive Management team, as explained on page 21 Total remuneration of these people in the year was £375,801 (2020:£335,634). A termination payment of £12,000 was paid during 2021 (2020 - Nil).

The Charity’s investments represents 100% of the issued share capital of Walking With The Wounded Trading Limited. A summary of the subsidiary undertakings results is as follows:

			2021		2020
			£		£
Income			251,221		43,470
Expenditure			(123,037)		(46,254)
Net surplus/(loss) donated to the Charity			128,184		(2,784)
At the balance sheet date the subsidiary’s share capital and reserves totalled £117,631 (2020: (£10,553)).
10. Stock
		Consolidated		Charity
	2021	2020	2021		2020
	£	£	£		£
Stock of fnishedgoods	3,437	3,609	-		-

11. Debtors

	11. Debtors
			Consolidated		Charity
		2021	2020	2021		2020
		£	£	£		£
	Trade debtors Amounts due fromgroupentities Prepayments Other debtors	22,802 - 13,913 831	187,772 - 13,886 70,393	22,791 175,494 13,913 821		102,729 80,811 13,886 70,393
		37,546	272,051	213,019		267,819

7. Trustee payments and expenses

No Trustees incurred expenses which were reimbursed by the charity and its subsidiary during the year 2021: Nil (2020: Nil)

Amounts due from group entities include a formal loan made to the subsidiary totalling £57,324. This loan has no set repayment date and attracts interest at a rate of 4% above the Bank of England base rate.

12. Creditors

12. Creditors
		Consolidated		Charity
	2021	2020	2021	2020
	£	£	£	£
Trade creditors	132,296	264,245	132,250	262,931
Deferred income	218,302	637,317	189,112	431,042
Accruals	331,843	273,259	326,113	267,859
Other creditors	152,949	449	152,949	449
Social securityand other taxes	61,716	67,028	61,098	52,983
	897,106	1,242,298	861,522	1,015,264

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12.1. Deferred Income

	Consolidated	Charity
	£	£
As at 1 January2021	637,317	431,042
Amount released in theyear	(637,317)	(431,042)
Amounts deferred in theyear	218,302	189,112
Balances carried forward as at 31 December 2021	218,302	189,112

Wellbeing, Regional and Community Services, Northern Care Co-ordination Partnership - These programmes are all part of the WWTW Care Co-ordination programme. WWTW provides Care Coordination to ex-servicemen and women and their families. Through our regional sites in the North East and North West, and our Care Coordinators across the UK, we assess our service users’ range of needs, including lack of secure accommodation, debt issues, mental and physical health and social isolation. We work with local partners to address those needs.

Project Nova - Project Nova provides Care Coordination to ex-servicemen and women who have been arrested or are at risk of arrest. The programme is delivered as a partnership between RFEA and supports vulnerable veterans and veterans who have been arrested and enter Police Custody. Veterans may also be referred by specialist Police teams, or other statutory organisations.

The income released in the year related to fundraising events and the Walk of Oman Expedition that were postponed during 2020 but took place in 2021. In addition contract income received in 2020 relating to 2021.

14. The charitable activities have been supported by the following donors

Amounts deferred in the year relate to a combination of fundraising events that are not due to take place until 2022/23 and contracts/agreements income received in 2021 relating to 2022.

13. Analysis of restricted and unrestricted funds

	Opening balance	Incoming	Outgoing	Closing balance
	1 January			31 December
	2020			2020
Restricted funds:
Employment	17,825	480,008	399,461	98,372
Mental Health	71,273	144,910	165,519	50,664
Wellbeing	44,422	280,472	249,750	75,144
Project Nova	-	26,551	13,551	13,000
Regional and CommunityServices	62,006	472,316	355,524	178,798
High IntensityService	(13,546)	86,152	72,606	-
	181,980	1,490,409	1,256,411	415,978
Unrestricted funds:
General	505,024	3,558,167	2,752,836	1,310,355
	505,024	3,558,167	2,752,836	1,310,355
Total funds	687,004	5,048,576	4,009,247	1,726,333

Prior Year Analysis of Funds

	Opening balance	Incoming	Outgoing	Closing balance
	1 January			31 December
	2020			2020
Restricted funds:
Employment	38,852	372,445	393,472	17,825
Mental Health	-	151,799	80,526	71,273
Wellbeing	65,874	366,126	387,578	44,422
Project Nova	658	78,250	78,908	-
Regional and CommunityServices	5,445	151,842	95,281	62,006
Northern Care Co-ordination Partnership (NCCP)	37,236	344,608	395,390	13,546
	148,065	1,465,070	1,431,155	181,980
Unrestricted funds:
General	38,040	2,730,545	2,263,560	505,025
	38,040	2,730,545	2,263,560	505,025
Total funds	186,105	4,195,615	3,694,716	687,004

Employment - Walking With The Wounded's (WWTW) Employment Programme helps to secure positive employment outcomes for unemployed veterans. WWTW’s Employment Advisors are embedded in veteran supported accommodation residences or with NHS regional veteran mental health teams, helping unemployed veterans to find employment and rebuild their lives. Advisors build confidence, organise work placements, source funding for any required training and ultimately assist in securing sustainable employment.

Mental Heath - WWTW Mental Health programme is called Head Start. Head Start provides 1-2-1 private therapy for ex-service personnel with mild to moderately severe mental health difficulties such as depression, anxiety, PTSD and adjustment disorder. Therapy is provided via face-to-face and digital sessions. Evidence-based talking therapies including cognitive behavioural therapy (CBT) and Eye Movement Desensitisation Reprocessing (EMDR) are delivered by accredited private therapists within the ex-service personnel’s local community.

Funding is acknowledged under the terms and conditions of the following grants and donations:

	Funder	Project	Value £
	Call of DutyEndowment	Employment	245,970
	Barclays	Employment	100,000
	Armed Forces Covenant Fund Trust	Strategic Pathways continuation	92,500
	Armed Forces Covenant Fund Trust	TacklingSerious Stress: families and carers	86,152
	Armed Forces Covenant Fund Trust	SustainingSupport - Core Costs	46,825
	Armed Forces Covenant Fund Trust	Care Co-ordination: Scotland/ Nothern Ireland	70,000
	Armed Forces Covenant Fund Trust	Frontier Pipes & Drums	50,750
	Armed Forces Covenant Fund Trust	Care Co-ordination: TacklingLoneliness	138,750
	Armed Forces Covenant Fund Trust	OpRegen	19,000
	Nationwide BuildingSociety	Care Co-ordination: North West CommunityGrant	30,000
	Forces Supported Limited	North East Regional Hub Support	30,000
	The Veterans Foundation	Care Co-ordination: Northern Ireland	30,000
	The Veterans Foundation	Mental Health	29,204
	The Veterans Foundation	Employment	28,990
	RNRMC Greenwich Hospital Grant	Veteran Support:Naval	24,000
	The Drapers Charitable Fund	Employment	15,000
	The Childwick Trust	Mental Health	15,000

Employment - The WWTW Employment programme is partially funded by a combination of the Call of Duty Endowment, Barclays Citizen Partnership Programme, The Veterans Foundation and The Drapers Charitable Fund.

Strategic Pathways - This funding has been provided by the Armed Forces Covenant Fund Trust to continue the Strategic Pathways programme through 2021. Strategic Pathways is multi-year project providing help and support to organisations as part of The Veterans Mental Health and Wellbeing Fund.

Tackling Serious Stress: families and carers - This funding has been provided by the Armed Forces Covenant Fund Trust - Tackling Serious Stress in Veterans, Carers and Families. The funding of £689k is to run a Northern England multi-year project leading local charities and health professionals to work together to develop and support veterans and their carers and families. The tackle serious stress project is called the Northern Care Coordination Partnership (NCCP) and has helped design future services. This programme concluded in March 2021.

Sustaining Support - Core Costs - In response to Covid-19 pandemic £99k funding has been provided by the Armed Forces Covenant Trust to support the WWTW core services.

Care Coordination - The WWTW Care Coordination programme is embedded within the Regional Services. The programme works with partners in the Local Authority, Armed Forces Charity Sector and the local community to coordinate support in areas including social prescribing, debt management, substance misuse support, employment, physical wellness, family support, housing, education, training, volunteering and peer support. The programme is supported by WWTW unrestricted reserves and a number of key funders - Armed Forces Covenant Fund Trust, Nationwide Building Society and The Veterans Foundation.

North East Regional Hub Support - Following the opening of the North East Hub in 2020, the regional service has continued to develop during 2021 with Forces Support providing multi year funding to support the costs of operating the hub.

OP-REGEN - OP-REGEN is a volunteering project that offers a platform for ex-military personnel to recognise their inherent skills and empowers them to demonstrate these skills to the wider community. For those that have landed on hard times, the project aims to support these individuals and their families to reintegrate back into society and to have a meaningful positive impact on the environment in which they reside; additionally, for those not in employment the projects aims to assist in their journey back into the workplace. Funding received from the Armed Forces Covenant Trust has supported the OP-REGEN activities in the North West Region.

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Mental Health - The Mental Health programme (Head Start) has continued to be under pressure with increasing numbers of veterans seeking assistance during the pandemic. Our ability to respond to this increase has been supported by funding from the Veterans Foundation and The Childwick Trust.

Frontier Pipes and Drums - This funding has been provided by the Armed Forces Covenant Trust. Mind the Pipes and Drums will enable veterans to partake in music based, social activities where they can learn new skills, develop a sense of achievement and pride. The project aims to improve veteran’s mental health by reducing social isolation as well as undertaking a subtle form of music therapy.

15. Analysis of net assets between funds

	Unrestricted	Restricted	Total
	funds	funds
	£	£	£
**Group: **
Fixed assets	5,275	-	5,275
Stock Debtors	3,437 37,546	- -	3,437 37,546
Cash	2,161,203	415,978	2,577,181
Creditors	(897,106) 1,310,355	- 415,978	(897,106) 1,726,333
Charity: Fixed assets Stock Debtors Cash Creditors	5,275 - 213,019 1,835,952 (861,522)	- - - 415,978 -	5,275 - 213,019 2,251,930 (861,522)
	1,192,724	415,978	1,608,702

15.1 Prior Year Analysis of net assets between funds

	Unrestricted	Restricted	Total
	funds	funds
	£	£	£
**Group: **
Fixed assets	16,906	-	16,906
Stock	3,609	-	3,609
Debtors	272,051	-	272,051
Cash	1,454,757	181,980	1,636,736
Creditors	(1,242,298)	-	(1,242,298)
	505,024	181,980	687,004
Charity:
Fixed assets	16,906	-	16,906
Stock	-	-	-
Debtors	267,819	-	267,819
Cash	1,246,116	181,980	1,428,096
Creditors	(1,015,264)	-	(1,015,264)
	515,577	181,980	697,557
16.Analysis of Net Debt
	As at	Cashfows	At at
	1 Jan 2021		31 Dec 2021
Cash at Bank	1,636,736	940,445	2,577,181

end ASF held $15,637.46 (2020: $5,789) on behalf of WWTW. No fee is due to ASF for this support. There were no other related party transactions (2020: none)

18. Company status

The company does not have a share capital and is limited by the guarantee of all its members. At 31st December the total of such guarantees was £11 (2020:£11)

19. Taxation

The company has not made any provision for corporation tax payable on the basis that all of its income and gains are applied for wholly charitable purposes.

20. Prior year SOFA

	20. Prioryear SOFA
		Unrestricted	Restricted	Total funds
		funds	funds	31 December
				2020
		£	£	£
	Income from:
	Donations and legacies	380,647	1,465,070	1,845,717
	Charitable activities	1,817,471	-	1,817,471
	Fundraisingand trading	529,656	-	529,656
	Investment income	2,771	-	2,771
	Total income	2,730,545	1,465,070	4,195,615
	Expenditure on:
	Raisingfunds	729,930	-	729,930
	Expeditions in support of wounded veterans	115,558	-	115,558
	Charitable Activities: In support of Veterans and their dependents	1,418,073	1,431,155	2,849,228
	Total expenditure	2,263,560	1,431,155	3,694,716
	Net(outgoing)/ incomingresources	466,985	33,914	500,899
	Transfers between funds	-	-	-
	Net movement in funds	466,985	33,914	500,899
	Total funds brought forward	38,040	148,065	186,105
	Total funds carried forward	505,025	181,980	687,004

Other Information

Registered office Independent Bankers Stody Hall Barns auditors Clydesdale Bank Stody Saffery 35 Regent Street Melton Constable Champness LLP Piccadilly Circus Norfolk, NR24 2ED 71 Queen Victoria St London, SW1Y 4ND London, EC4V 4BE Solicitors Barclays Bank Birketts LLP 17 Market Place 24–26 Museum St Fakenham Ipswich Norfolk, NR21 9BE Suffolk, IP1 1HZ

17. Related parties

During the year Walking With The Wounded charged £50,564 (2020: £5,577) to its wholly owned subsidiary Walking With The Wounded Ltd, in respect of management charges for running events from which the charity benefited.

At the year end £57,324 (2020: £57,324) was owed by the subsidiary in respect of a loan from the charity. The loan incurs interest at 4% above base and is repayable upon demand.

Susan Walton is a trustee of the Atlanticist Support Foundation (ASF), a charitable organisation based in the USA. In order to comply with US charity and tax law, sponsorship and donations made in the US are held by ASF on behalf of WWTW. At the year

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THANK YOU

WWTW would like to thank the people and organisations who make our vital work possible by generously giving their time and money; without this support, we are unable to provide our mental health, employment, care coordination and volunteering programmes to those who need it. We are grateful to all those who gave what they were able to, and particular thanks goes to the following organisations and individuals who made significant contributions throughout the year.

Yodel Sopra Steria Skanska Sunbelt Rentals Barclays Forces Support BAE Systems Amazon FDM Gasway The Army Cadets Vocation Skills Solutions (VSS) Ineos Grenadier Shard Capital Craghoppers Avanti Communications Monster Energy	Armed Forces Covenant Fund Trust Veterans’ Foundation Call of Duty Endowment Royal Navy and Royal Marines Charity Nationwide ABF The Soldiers’ Charity MacRobert Trust Dr and Mrs Olav Kerr’s Charitable Trust Sir James Knott Trust Brian Wood MC Mark Harding Alverne Bolitho Eddie Izzard / The Talent Fund

BRIAN WOOD MC: THE ULTIMATE SACRIFICE CHALLENGE

On November 25th 2021, Brian Wood MC, a former Colour Sergeant with the Princess of Wales’s Regiment completed his Ultimate Sacrifice Challenge, having run 25 marathons in 25 days, a mile for each of the 635 British men and women killed serving in Iraq and Afghanistan and to raise money to support Walking With The Wounded.

Brian said, “When I started this challenge, I knew that it would be tough and there would be times when I had to keep my head up and keep attacking. The enormity of what I have achieved has not yet sunk in. It was an honour to run with the names of the 635 soldiers who died during the Iraq and Afghanistan conflict on my shirt, and it really hit home when people recognised names on the shirts…. This has been a humbling experience and one I will never forget.”

Brian’s Ultimate Sacrifice Challenge initially aimed to raise £20,000 for WWTW but thanks to the generosity of hundreds of supporters, he raised an astonishing £169,000.

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KEY CALENDAR DATES 2022

MAY

Cumbrian Challenge 2022

Join us at our flagship fundraising challenge event for teams who want to show their support and experience a memorable weekend in the Lake District on May 14th alongside our beneficiaries.

JUNE 25

Armed Forces Day

Armed Forces Day is an important day for the veteran community, many organisations or individuals wish to support during this time and our fundraising team have incredible ideas to help you do that, get in touch

DECEMBER

Walking Home For Christmas

Offer hope to veterans and their families this Christmas by getting out in nature and walking any distance, any time between the 10th and 20th December for our headline event ‘Walking Home For Christmas’

MARK HARDING: WALKING HOME FOR CHRISTMAS

Mark has spent the time since his recovery supporting charities and pushing himself beyond what any of his consultants would have imaged.

Mark Harding was a dedicated soldier in the Duke of Lancaster regiment, serving in Afghanistan, when a sniper bullet went through his neck. After being rushed back to the UK for treatment, doctors told Mark that he would never walk again following the incident.

On the 9th December Mark walked 25km over 3 days raising money for WWTW’s annual fundraising campaign, Walking Home for Christmas. Not content with just participating in a walk, Mark pulled a WWTW pulk of household essentials throughout the 25km, delivering to those needing support and raised over £10,000 for those who have served.

But, with strength, determination and a positive mental outlook, Mark set about proving his consultants wrong.

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Keep in touch

WalkingWithTheWounded Supportthewalk Walking With The Wounded WalkingWithTheWounded

Contact us

WWTW Head Office Walking With The Wounded Stody Hall Barns Stody, Melton Constable Norfolk NR24 2ED Tel [phone]

Walking With The Wounded is registered as a Charity in England & Wales (No.1153497) and in Scotland (No.SC047760)

Need support?

Visit our website: wwtw.org.uk

Manchester Hub 42 Canada Street Manchester M40 8AE

North Shields

Veterans Support Services, The Walker Building, North Shields, Tyne & Wear NE29 6LL