**REGISTERED COMPANY NUMBER: 08291711 (England and Wales) REGISTERED CHARITY NUMBER: 1161119**
**Report of the Trustees and**
## **Unaudited Financial Statements**
**For The Year Ended 28 February 2022**
**for**
**Style For Soldiers**
Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
**Style For Soldiers**
## **Contents of the Financial Statements For The Year Ended 28 February 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Statement of Financial Position**||7||
|**Statement of Cash Flows**||8||
|**Notes to the Statement of Cash Flows**||9||
|**Notes to the Financial Statements**|10|to|16|
|**Detailed Statement of Financial Activities**|17|to|18|
**Style For Soldiers**
## **Report of the Trustees For The Year Ended 28 February 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives, aims and public benefit**
The objects of the charity are, for the public benefit, to promote the efficiency of the armed forces of the Crown by assisting persons who are currently serving, or have served, in the armed forces, and their dependents (the beneficiaries) by:-
- Promoting and protecting the health, morale and wellbeing of those beneficiaries who have been wounded or injured.
Subject to the above, and to the extent that there are sufficient funds available, the objects of the charity are to provide relief for civilians and members of the armed forces anywhere in the world who are in need, as a result of being wounded, injured or otherwise affected by armed conflict, through the provision of clothing, equipment, or services and facilities.
## **Significant activities**
Holding the annual reunion Christmas event for injured service personnel, which promotes networking within and outside the military community.
Holding a family reunion event each Summer at Woburn Safari Park for injured service personnel and their families.
The provision of bespoke clothing and equipment to injured service personnel.
## **Public benefit**
The Charity looks to achieve these objectives, whilst demonstrating its charitable purpose for the public benefit by providing bespoke clothing, equipment, services and networking facilities for their rehabilitation.
The trustees consider that they have complied with their duty to have due regard to the public benefit guidance when exercising any powers or duties to which guidance is relevant.
## **Grantmaking**
During the year the charity provided grants to individuals of £44,698 (2021: £41,261).
## **Volunteers**
The charity does not rely on any voluntary help, but support services and facilities are provided free of charge by Emma Willis Limited. These amounted to £33,500 (2021: £31,000) worth of donations in kind
Page 1
**Style For Soldiers**
## **Report of the Trustees For The Year Ended 28 February 2022**
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
Style for Soldiers has continued with its original mission to provide smart clothing for injured service personnel for important occasions such as job interviews, new careers and weddings as well as bespoke walking sticks with a silver band with their regiment and initials engraved on for those needing them for medical reasons.
Over the last few years it has become evident that probably the most important element of the Charity's work in supporting injured veterans now and going forward is the annual Reunion Events which are keenly anticipated and their importance heightened over lockdown. Style for Soldiers founder Emma Willis MBE DL identified the need for reunions for those who faced medical military discharge, in order to maintain contact with like minded colleagues after having to leave their careers due to life changing injuries. They formed strong bonds of friendship at the military rehabilitation hospital which Emma witnessed and was struck by.
The Christmas Reunion Party, Spring Race Day and Summer Family Day at Woburn Safari Park are the only time many former patients of the Military Rehabilitation Hospital get together. They are now the largest reunions for injured service personnel in the UK and play a vital part in the attendees well-being, often crushed by isolation, and for their partners and children.
Over the pandemic Emma Willis and her colleagues at Emma Willis Limited, who run the day to day admin of the Charity within the business, worked on the database of the over 600 patients Emma met at the Military Rehabilitation Hospital Headley Court from 2008, the height of the Afghan conflict and until it moved in 2018, re-connecting with many who had previously been nervous to attend events, successfully encouraging them to attend the reunions. This has had a very positive effect on them and their families lives as the many thank you messages to the Charity attest.
The Charity organises and pays for hotels for both the Style for Soldier 'member' and their partner attending the reunions, some travel costs as well as drinks and meals which are social occasions for parents and children, creating a very special outing.
The other significant cost to the charity is the sponsoring of several injured servicemen and women into new careers including football coaching, finance, mentoring in schools, professional motivational speaking, motor racing, playing professional polo and as artists. The financial sponsorship, contacts and mentoring provided by Style for Soldiers has been vital to the these veterans' success in re-building rewarding new careers.
One of the charity's sponsees, former Household Cavalryman David O'Mahoney, launched The Endeavour Programme this year, 2022, having developed the programme while supported by Style for Soldiers over the last three years. David has been mentoring 'at risk' pupils at St. Ignacius School Enfield, the London borough with the highest youth crime rate and according to the Head Teacher and Head of Pastoral Care and Deputy Head an invaluable member of staff. His Programme is making a huge impact saving the students from permanent exclusion while improving their academic performance and behaviour as well as raising morale and self-respect which has a huge impact and effectively turns their lives around . David draws on his own very similar early life experiences, a life where many of his friends were excluded from schools and fell into lives of crime: as a consequence he has developed a remarkable programme based on the military training which transformed his life.
The Charity hopes to engage with other organisations and Government to match other veterans with their local schools to expand the programme across the country, giving many more purposeful jobs to our exceptional veterans and provide critical mentoring and a much needed male role model for our 'at risk' pupils. There could be no better male role models for these young men than a former serviceman from a similar background. The Charity will be actively fund raising to continue the programme and a film of David's work and The Endeavour Programme has been made to assist now on You Tube https://youtu.be/X-rVET_uIZw
In October 2022 Style for Soldiers hosted a fund raising event at Spencer House, presenting the poetry of Surgeon General Tim Hodgetts CBE OStJ QHS, raising awareness of the courage, skill and sacrifice of our Military Medical staff who also serve on the frontline under extreme danger, unimaginable stress and sometimes also incurring conflict injury. The Surgeon General is keen to support Style for Soldiers having witnessed the importance of the Charity's work. Readers of his powerful poetry included BBC's Huw Edwards , Frank Gardner and Caroline Wyatt, Tom Tugendhat MBE VR MP, actor Freddie Fox and General Sir Richard Shirreff, former Deputy Allied Commander Europe. ' Hymn to Helmand' was sung by world famous actor and tenor Alfie Boe.
Page 2
**Style For Soldiers**
## **Report of the Trustees For The Year Ended 28 February 2022**
Style for Soldiers is also a founding partner of the NHS Veterans Trauma Network , invited by Founder and trauma surgeon Shehan Hettiraratchy to organise meetings with veterans from the charity's contacts, to discuss their experiences transitioning from the Military with the Medical Defense Services to the NHS. Style for Soldiers covered travel and hotel costs in order that the group represented injured veterans from all over the UK. The NHS VTN has now greatly improved the continuing care of veterans with serious injuries and has expressed gratitude to Style for Soldiers for its fundamental part in the birth of the programme. Now the Charity circulates the latest information from NHS GP's and Surgeons on veteran care to its extensive database which is very beneficial to both patients and the NHS VTN.
Style for Soldiers continues to operate without running costs, all administrative work being carried out within founder Emma Willis's company's business hours and by their employees and the volunteering of the Trustees and Chairman so there are no salaries or premises costs and all proceeds go directly to the beneficiaries and various activities of the Charity.
## **Fundraising activities**
The charity received a £1.5 million LIBOR grant in 2017, which will enable the charity to undertake a programme of charitable expenditure over a 5 year period, in accordance with the charity's aims and objectives, and the LIBOR grant funding document.
Other donations were received in the year by a variety of sources totalling £50,088 (2021: £4,416), plus Gift Aid of £4,414 (2021: £Nil).
## **FINANCIAL REVIEW**
## **Financial position**
The charity incurred a net decrease in funds of £109,415 during the year, increasing the balance on unrestricted funds to £369,071 and decreasing the balance on restricted funds to £172,846 at 28 February 2022, which is considered satisfactory in accordance with the charity's reserves policy.
The charity received a £1.5 million LIBOR restricted grant in 2017, a balance of £172,846 remains available to spend on this at 28 February 2022. This restricted fund is to be spent over a 5 year period to February 2021, in accordance with the grant conditions.The net expenditure of £154,397 on this fund, during the year, reflects expenditure incurred in accordance with these grant conditions.
## **Investment policy and objectives**
The charity's surplus funds were held in a bank deposit account for the major part of the 2017/18 year. These funds were invested in listed investments during the 2017/18 year, with the guidance of professional investment managers. The total invested was £1,200,526, and net sales of £118,077 were made during the 2021/22 year. The market value of these investments was £262,028 at 28 February 2022 (2021: £384,864)
## **Reserves policy**
The trustees have considered the requirement of the Charity and its reserves. The Charity aims to hold a contingency of at least 12 months expenditure, to ensure continuity of support and maintain its operating activates effectively without undue reliance on the restricted LIBOR funds held.
The accounts show that the Charity has net unrestricted funds of £369,071 at 28 February 2022 which is considered a sufficient reserve balance for the Charity to hold to meet its foreseeable needs.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity was incorporated with Companies House on 13 November 2012 and became a registered charity on 30 March 2015.
## **Recruitment and appointment of new trustees**
Under the constitution, the charity shall elect from its membership a Board of Directors, known as the Board of Trustees of at least three members, one of whom shall be the founding member, Mrs E C R Corfield. The directors shall hold office until conclusion of their term of office, which is three years after their election. A director may serve a maximum of three terms.
Page 3
**Style For Soldiers**
## **Report of the Trustees For The Year Ended 28 February 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Organisational structure**
The charity is a company limited by guarantee, which delegates authority to an elected Board of Trustees. Support services are provided free of charge by Emma Willis Limited (a company of which trustee Mrs E C R Corfield is also a director)
## **Key management remuneration**
During the year, the Charity did not employ or remunerate any staff. The trustee E Corfield dealt with the day to day responsibility for the financial management and sustainability of the charity, regulation and compliance issues.
## **Related parties**
None of the trustees receive remuneration or other benefits from their work with the charity. One of the trustees, Mrs E C R Corfield is also a director of Emma Willis Limited, which provides support services to the charity free of charge.
Related party transactions are disclosed in the notes to the accounts.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
08291711 (England and Wales)
## **Registered Charity number**
1161119
## **Registered office**
Bearland House Longsmith Street Gloucester Gloucestershire GL1 2HJ
## **Trustees**
Mrs E C R Corfield Director Ms L A Hadaway Director Mrs M Witchell Director Lt Gen Sir G Norton KCVO CBE Director
## **Independent Examiner**
Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
Approved by order of the board of trustees on 24 November 2022 and signed on its behalf by:
Mrs E C R Corfield - Trustee
Page 4
**Independent Examiner's Report to the Trustees of Style For Soldiers**
## **Independent examiner's report to the trustees of Style For Soldiers ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Spashett BSc FCA Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
28 November 2022
Page 5
## **Style For Soldiers**
## **Statement of Financial Activities For The Year Ended 28 February 2022**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
88,002
Investment income
3
2,272
**Total**
90,274
**EXPENDITURE ON**
Raising funds
4
3,390
**Charitable activities**
5
Management and administration
41,902
Grants to individuals
-
Annual Headley Court Patient Reunion
-
Networking for Soldiers
-
Non Clothing grants
-
Art Tuition & Materials
-
Art Exhibition
-
**Total**
45,292
**NET INCOME/(EXPENDITURE)**
44,982
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
324,089
**TOTAL FUNDS CARRIED FORWARD**
369,071|Restricted
funds
£
-
6,842
6,842
4,744
-
75,383
73,973
2,612
-
4,527
-
161,239
(154,397)
327,243
172,846|28.2.22
Total
funds
£
88,002
9,114
97,116
8,134
41,902
75,383
73,973
2,612
-
4,527
-
206,531
(109,415)
651,332
541,917|28.2.21
Total
funds
£
35,416
15,181
50,597
877
35,289
60,220
3,961
168
10,000
37,374
334
148,223
(97,626)
748,958
651,332|
|---|---|---|---|
The notes form part of these financial statements
Page 6
## **Style For Soldiers**
## **Statement of Financial Position**
## **28 February 2022**
|Notes
**FIXED ASSETS**
Investments
12
**CURRENT ASSETS**
Debtors
13
Cash at bank
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
15
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
149,420
9,695
212,956
222,651
(3,000)
219,651
369,071
369,071|Restricted
funds
£
112,608
-
60,238
60,238
-
60,238
172,846
172,846|28.2.22
Total
funds
£
262,028
9,695
273,194
282,889
(3,000)
279,889
541,917
541,917
369,071
172,846
541,917|28.2.21
Total
funds
£
384,864
15,706
253,762
269,468
(3,000)
266,468
651,332
651,332
324,089
327,243
651,332|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 24 November 2022 and were signed on its behalf by:
E C R Corfield - Trustee
The notes form part of these financial statements
Page 7
## **Style For Soldiers**
## **Statement of Cash Flows For The Year Ended 28 February 2022**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Sale of fixed asset investments
(Gain)/Loss on investments
Interest received
Net cash provided by investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|28.2.22
£
(103,331)
(96)
(103,427)
(3,064)
118,078
7,822
23
122,859
19,432
253,762
273,194|28.2.21
£
(128,855)
(61)
(128,916)
(3,197)
148,634
(10,355)
168
135,250
6,334
247,428
253,762|
|---|---|---|
The notes form part of these financial statements
Page 8
**Style For Soldiers**
## **Notes to the Statement of Cash Flows**
## **For The Year Ended 28 February 2022**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**
**ACTIVITIES**|**OPERATING**||
|---|---|---|
|**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Interest received
Interest paid
Decrease/(increase) in debtors
Decrease in creditors
**Net cash used in operations**|28.2.22
£
(109,415)
(23)
96
6,011
-
(103,331)|28.2.21
£
(97,626)
(168)
61
(5,425)
(25,697)|
|||(128,855)|
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.3.21|Cash flow|At 28.2.22|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|253,762|19,432|273,194|
||253,762|19,432|273,194|
|**Total**|253,762|19,432|273,194|
The notes form part of these financial statements
Page 9
**Style For Soldiers**
## **Notes to the Financial Statements For The Year Ended 28 February 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. DONATIONS AND LEGACIES**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
||28.2.22|28.2.21|
||£|£|
|Donations|50,088|4,416|
|Gift aid|4,414|-|
|Donated services and facilities|33,500|31,000|
||88,002|35,416|
continued...
Page 10
**Style For Soldiers**
## **Notes to the Financial Statements - continued**
## **For The Year Ended 28 February 2022**
## **3. INVESTMENT INCOME**
|Investment income
Unrealised gain on investments
Deposit account interest
**4.**
**RAISING FUNDS**
**Raising donations and legacies**
Donations facilitation subs
**Other trading activities**
Unrealised losses on investments
Interest payable and similar charges
Aggregate amounts
**5.**
**CHARITABLE ACTIVITIES COSTS**
Management and administration
Grants to individuals
Annual Headley Court Patient Reunion
Networking for Soldiers
Art Tuition & Materials|Direct
Costs
£
37,569
30,685
73,973
2,612
4,527
149,366|Grant
funding of
activities
(see note
6)
£
-
44,698
-
-
-
44,698|28.2.22
£
3,066
6,025
23
9,114
28.2.22
£
216
28.2.22
£
7,822
96
7,918
8,134
Support
costs (see
note 7)
£
4,333
-
-
-
-
4,333|28.2.21
£
3,198
11,815
168
15,181
28.2.21
£
816
28.2.21
£
-
61
61
877
Totals
£
41,902
75,383
73,973
2,612
4,527|
|---|---|---|---|---|
|||||198,397|
continued...
Page 11
**Style For Soldiers**
## **Notes to the Financial Statements - continued**
## **For The Year Ended 28 February 2022**
## **6. GRANTS PAYABLE**
|**GRANTS PAYABLE**|||
|---|---|---|
||28.2.22|28.2.21|
||£|£|
|Grants to individuals|44,698|36,220|
|Art Tuition & Materials|-|5,041|
||44,698|41,261|
|**SUPPORT COSTS**|||
|||Governance|
|||costs|
|||£|
|Management and administration||4,333|
|**NET INCOME/(EXPENDITURE)**|||
|Net income/(expenditure) is stated after charging/(crediting):|||
||28.2.22|28.2.21|
||£|£|
|Other operating leases|10,000|10,000|
## **7. SUPPORT COSTS**
## **8. NET INCOME/(EXPENDITURE)**
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 28 February 2022 nor for the year ended 28 February 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 28 February 2022 nor for the year ended 28 February 2021.
## **10. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||28.2.22|28.2.21|
|---|---|---|
|Unremunerated staff|2|2|
No employees received emoluments in excess of £60,000.
continued...
Page 12
**Style For Soldiers**
## **Notes to the Financial Statements - continued For The Year Ended 28 February 2022**
|**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
35,416
Investment income
9,454
**Total**
44,870
**EXPENDITURE ON**
Raising funds
854
**Charitable activities**
Management and administration
35,289
Grants to individuals
-
Annual Headley Court Patient Reunion
3,434
Networking for Soldiers
-
Non Clothing grants
-
Art Tuition & Materials
-
Art Exhibition
-
**Total**
39,577
**NET INCOME/(EXPENDITURE)**
5,293
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
318,796
**TOTAL FUNDS CARRIED FORWARD**
324,089
**12.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 March 2021
Additions
Disposals
Revaluations
At 28 February 2022
**NET BOOK VALUE**
At 28 February 2022
At 28 February 2021|Restricted
Total
funds
funds
£
£
-
35,416
5,727
15,181
5,727
50,597
23
877
-
35,289
60,220
60,220
527
3,961
168
168
10,000
10,000
37,374
37,374
334
334
108,646
148,223
(102,919)
(97,626)
430,162
748,958
327,243
651,332
Listed
investments
£
384,864
3,064
(118,078)
(7,822)
262,028
262,028
384,864|
|---|---|
There were no investment assets outside the UK.
continued...
Page 13
**Style For Soldiers**
## **Notes to the Financial Statements - continued For The Year Ended 28 February 2022**
## **12. FIXED ASSET INVESTMENTS - continued**
Cost or valuation at 28 February 2022 is represented by:
|||Listed|
|---|---|---|
|||investments|
|||£|
|Valuation in|2018|(1,854)|
|Valuation in|2020|2,592|
|Valuation in|2021|7,452|
|Valuation in|2022|(3,078)|
|Cost||256,916|
|||262,028|
Fixed asset investments were valued on an open market basis on 28 February 2022 by Church House Investment Management.
## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other debtors
Prepayments and accrued income
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accrued expenses
**15.**
**MOVEMENT IN FUNDS**
At 1.3.21
£
**Unrestricted funds**
General fund
324,089
**Restricted funds**
Clothing, Networking & Rehabilitation
Fund
327,243
**TOTAL FUNDS**
651,332|28.2.22
£
9,695
-
9,695
28.2.22
£
3,000
Net
movement
in funds
£
44,982
(154,397)
(109,415)|28.2.21
£
5,281
10,425
15,706
28.2.21
£
3,000
At
28.2.22
£
369,071
172,846|
|---|---|---|
|||541,917|
continued...
Page 14
**Style For Soldiers**
## **Notes to the Financial Statements - continued For The Year Ended 28 February 2022**
## **15. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
90,274
**Restricted funds**
Clothing, Networking & Rehabilitation
Fund
6,842
**TOTAL FUNDS**
97,116
**Comparatives for movement in funds**
At 1.3.20
£
**Unrestricted funds**
General fund
318,796
**Restricted funds**
Clothing, Networking & Rehabilitation
Fund
430,162
**TOTAL FUNDS**
748,958
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
44,870
**Restricted funds**
Clothing, Networking & Rehabilitation
Fund
5,727
**TOTAL FUNDS**
50,597|Resources
Movement
expended
in funds
£
£
(45,292)
44,982
(161,239)
(154,397)
(206,531)
(109,415)
Net
movement
At
in funds
28.2.21
£
£
5,293
324,089
(102,919)
327,243
(97,626)
651,332
Resources
Movement
expended
in funds
£
£
(39,577)
5,293
(108,646)
(102,919)
(148,223)
(97,626)|
|---|---|
Page 15
continued...
**Style For Soldiers**
## **Notes to the Financial Statements - continued For The Year Ended 28 February 2022**
## **15. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Clothing, Networking & Rehabilitation
Fund
**TOTAL FUNDS**|At 1.3.20
£
318,796
430,162
748,958|Net
movement
in funds
£
50,275
(257,316)
(207,041)|At
28.2.22
£
369,071
172,846|
|---|---|---|---|
||||541,917|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Clothing, Networking & Rehabilitation
Fund
**TOTAL FUNDS**|Incoming
resources
£
135,144
12,569
147,713|Resources
Movement
expended
in funds
£
£
(84,869)
50,275
(269,885)
(257,316)
(354,754)
(207,041)|Resources
Movement
expended
in funds
£
£
(84,869)
50,275
(269,885)
(257,316)
(354,754)
(207,041)|
|---|---|---|---|
||||(207,041)|
The Restricted funds relate to grants that have been provided to fund the purchase of specific goods for injured-servicemen and women as outlined in the grant agreements.
## **16. RELATED PARTY DISCLOSURES**
## Emma Willis Limited
Mrs E C R Corfield, trustee of this charity, is a director and majority shareholder in Emma Willis Limited.
During the year the charity made purchases of shirts and other attire at rates below the regular market price from Emma Willis Limited totalling £4,898 (2021 : £29,370).
The company dedicated some of Mrs Corfield's and Miss K D Jones' (director of Emma Willis Limited) working hours and expertise to the charity to ensure smooth running of the charity. This time was free of charge and the estimated value of the services were £23,500 (2021: £21,000). The company also provided the use of office facilities free of charge thought to be worth £10,000 (2021: £10,000)
The supply of free services from Emma Willis Limited are shown as donations in kind and are also included as expenses in the SOFA..
Page 16
## **Style For Soldiers**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Donated services and facilities
**Investment income**
Investment income
Unrealised gain on investments
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Donations facilitation subs
**Other trading activities**
Unrealised losses on investments
Bank interest
**Charitable activities**
Rent costs donated in kind
Wages costs donated in kind
Postage and stationery
Sundries
Events
Insurance
Exhibition costs
Gifts for solders and partners
Venue Hire Costs
Hotel & travel for soldiers
Networking for soldiers
Art tuition & materials
Sponsorship
Grants to individuals
**Support costs**
**Governance costs**
Accountancy
Carried forward|**Detailed Statement of Financial Activities**
**For The Year Ended 28 February 2022**
28.2.22
28.2.21
£
£
50,088
4,416
4,414
-
33,500
31,000
88,002
35,416
3,066
3,198
6,025
11,815
23
168
9,114
15,181
97,116
50,597
216
816
7,822
-
96
61
7,918
61
10,000
10,000
23,500
21,000
2,939
-
373
362
260
-
757
-
-
334
1,084
527
55,510
10,000
27,804
3,434
2,612
168
4,527
25,000
20,000
31,333
44,698
41,261
194,064
143,419
4,196
3,790
4,196
3,790|**Detailed Statement of Financial Activities**
**For The Year Ended 28 February 2022**
28.2.22
28.2.21
£
£
50,088
4,416
4,414
-
33,500
31,000
88,002
35,416
3,066
3,198
6,025
11,815
23
168
9,114
15,181
97,116
50,597
216
816
7,822
-
96
61
7,918
61
10,000
10,000
23,500
21,000
2,939
-
373
362
260
-
757
-
-
334
1,084
527
55,510
10,000
27,804
3,434
2,612
168
4,527
25,000
20,000
31,333
44,698
41,261
194,064
143,419
4,196
3,790
4,196
3,790|
|---|---|---|
||||
|||35,416
3,198
11,815
168|
|||15,181|
|||50,597
816
-
61|
|||61
10,000
21,000
-
362
-
-
334
527
10,000
3,434
168
25,000
31,333
41,261|
|||143,419
3,790
3,790|
This page does not form part of the statutory financial statements
Page 17
**Style For Soldiers**
## **Detailed Statement of Financial Activities**
|**Governance costs**
Brought forward
Legal fees
Total resources expended
**Net expenditure**|**For The Year Ended 28 February 2022**
28.2.22
28.2.21
£
£
4,196
3,790
137
137
4,333
3,927
206,531
148,223
(109,415)
(97,626)|
|---|---|
This page does not form part of the statutory financial statements
Page 18