REGISTERED COMPANY NUMBER: 08291711 (England and Wales) REGISTERED CHARITY NUMBER: 1161119
Report of the Trustees and
Unaudited Financial Statements
For The Year Ended 29 February 2024
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 29 February 2024
| 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 |
Style For Soldiers
Report of the Trustees For The Year Ended 29 February 2024
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 29 February 2024. 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 £2,255 (2023: £10,337).
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 £18,000 (2023: £23,000) worth of donations in kind
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Style For Soldiers
Report of the Trustees For The Year Ended 29 February 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Style for Soldiers continues to provide smart clothing and regimental orthopaedic walking sticks for injured service personnel on their database which consists of over 500 injured service men and women who attended Headley Court Military Hospital between 2008 and 2018 and gives the largest reunion party in the country for the former patients, their partners and children, playing a vital role in their wellbeing as isolation is one of the greatest problem for those forced out of the military due to physical and psychological injury. The shirts are now donated by Emma Willis Ltd.
The three reunions deliberately span the year, a Spring Dinner, Summer Family Day at Woburn Safari Park, and Christmas Dinner in London. The charity pays for the events and hotel accommodation for between 250 and 300, enabling veterans to attend from all over the UK, so these are the charity's main over heads.
There are no direct staff or premises costs, all four Trustees volunteer their time and the charity is run from within and at the cost of the founder Emma Corfield's business Emma Willis Ltd as noted in the charity's accounts. Emma Corfield/ Willis spends approximately 1/4 of her working hours on Style for Soldiers. Therefore, all proceeds go directly to the beneficiaries of the charity.
Fundraising activities
Funds are raised by grant applications, social media coverage, veterans fund raising events, private and company donations and an annual Style for Soldiers event.
Grants: The charity has successfully applied for grants from ABF The Soldiers Charity, The Veterans Foundation and The Bernard Sunley Trust this year, the latter two having granted twice previously. The charity will be looking into applying to further Grant giving Military Charities.
The Veterans Lottery Fund / Veterans Foundation in August 2022 made a complimentary film for Style for Soldiers to help raise funds for the Lottery Fund and Style for Soldiers. This has resulted in significant on going public donations on Just Giving with over 710k views https://www.facebook.com/veteransfoundation/videos/veterans-lottery-supporting-british-heroes/5814958572 07751.
Injured service personnel each year put on a variety of fund-raising events in support of Style for Soldiers.
Emma Willis Ltd has been paid cost price by the charity for donated clothing up until 2023, with a limit set. The company, as of June 2023, now donates all clothing to Style for Soldiers due to being in a stronger financial position.
Annual Fund-Raising Events: The charity held no fund-raising events this financial year.
SPONSORSHIPS OF VETERANS: There was no sponsorship of veterans in this financial period.
FINANCIAL REVIEW
Financial position
The charity has approximately £250,000 still invested in Church House and at 29/2/24 £168,000 in the Lloyds current account, so will be actively fund raising and seeking support in the year ahead in order to continue providing the keenly awaited and much needed reunion parties for our injured service personnel and their families.
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 £nil (2022/23 £nil) were made during the year. The market value of these investments was £261,658 at 29 February 2024 (2023: £256,306)
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Style For Soldiers
Report of the Trustees For The Year Ended 29 February 2024
FINANCIAL REVIEW
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.
The accounts show that the Charity has net unrestricted funds of £435,503 at 28 February 2024 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.
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
66 Jermyn Street London SW1Y 6NY
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Style For Soldiers
Report of the Trustees For The Year Ended 29 February 2024
Trustees
Mrs E C R Corfield Director Ms L A Hadaway Director Mrs M Witchell Director (resigned 11.7.24) Lt Gen Sir G Norton KCVO CBE Director (resigned 23.12.23) J E Sheridan Company Director (appointed 6.1.24) M Weston Headhunter (appointed 31.1.24) H J L Crowder Non-Profit Professional (appointed 31.1.24) (resigned 14.7.24) Professor P F Mahoney (appointed 7.3.24)
Independent Examiner
Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
Approved by order of the board of trustees on 21 November 2024 and signed on its behalf by:
Mrs E C R Corfield - Trustee
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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 29 February 2024.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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
22 November 2024
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Style For Soldiers
Statement of Financial Activities
For The Year Ended 29 February 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 113,777 Investment income 3 8,836 Total 122,613 EXPENDITURE ON Raising funds 4 4,046 Charitable activities 5 Management and administration 25,197 Grants to individuals 23,085 Annual Headley Court Patient Reunion 92,324 Networking for Soldiers 29,135 Total 173,787 NET INCOME/(EXPENDITURE) (51,174) Transfers between funds 15 34,196 Net movement in funds (16,978) RECONCILIATION OF FUNDS Total funds brought forward 452,481 TOTAL FUNDS CARRIED FORWARD 435,503 |
Restricted funds £ - - - - - - - - - - (34,196) (34,196) 34,196 - |
29.2.24 Total funds £ 113,777 8,836 122,613 4,046 25,197 23,085 92,324 29,135 173,787 (51,174) - (51,174) 486,677 435,503 |
28.2.23 Total funds £ 118,938 3,126 122,064 9,148 29,506 32,847 68,011 37,792 177,304 (55,240) - (55,240) 541,917 486,677 |
|---|---|---|---|
The notes form part of these financial statements
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Style For Soldiers
Statement of Financial Position
29 February 2024
| Unrestricted fund Notes £ FIXED ASSETS Investments 12 261,658 CURRENT ASSETS Debtors 13 10,349 Cash at bank 167,996 178,345 CREDITORS Amounts falling due within one year 14 (4,500) NET CURRENT ASSETS 173,845 TOTAL ASSETS LESS CURRENT LIABILITIES 435,503 NET ASSETS 435,503 FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - |
29.2.24 Total funds £ 261,658 10,349 167,996 178,345 (4,500) 173,845 435,503 435,503 435,503 - 435,503 |
28.2.23 Total funds £ 256,306 23,619 232,558 256,177 (25,806) 230,371 486,677 486,677 452,481 34,196 486,677 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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
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(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 21 November 2024 and were signed on its behalf by:
E C R Corfield - Trustee
The notes form part of these financial statements
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Style For Soldiers
Statement of Cash Flows For The Year Ended 29 February 2024
| 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 (Gain)/Loss on investments Interest received Net cash (used in)/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 |
29.2.24 £ (63,469) (15) (63,484) (8,430) 3,078 4,274 (1,078) (64,562) 232,558 167,996 |
28.2.23 £ (46,354) (76) (46,430) (3,054) 8,776 72 5,794 (40,636) 273,194 232,558 |
|---|---|---|
The notes form part of these financial statements
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Style For Soldiers
Notes to the Statement of Cash Flows For The Year Ended 29 February 2024
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | ||
|---|---|---|
| Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Interest received Interest paid Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash used in operations |
29.2.24 £ (51,174) (4,274) 15 13,270 (21,306) (63,469) |
28.2.23 £ (55,240) (72) 76 (13,924) 22,806 |
| (46,354) |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.3.23 | Cash flow | At 29.2.24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 232,558 | (64,562) | 167,996 |
| 232,558 | (64,562) | 167,996 | |
| Total | 232,558 | (64,562) | 167,996 |
The notes form part of these financial statements
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Style For Soldiers
Notes to the Financial Statements For The Year Ended 29 February 2024
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 Gift aid Donated services and facilities |
29.2.24 £ 90,740 5,037 18,000 113,777 |
28.2.23 £ 90,562 5,376 23,000 |
|---|---|---|
| 118,938 |
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Style For Soldiers
Notes to the Financial Statements - continued
For The Year Ended 29 February 2024
3. INVESTMENT INCOME
| Investment income Deposit account interest 4. RAISING FUNDS Raising donations and legacies Donations facilitation subs Other trading activities Commission 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 |
Direct Costs £ 20,277 20,830 92,324 29,135 162,566 |
Grant funding of activities (see note 6) £ - 2,255 - - 2,255 |
29.2.24 £ 4,562 4,274 8,836 29.2.24 £ 546 29.2.24 £ 406 3,079 15 3,500 4,046 Support costs (see note 7) £ 4,920 - - - 4,920 |
28.2.23 £ 3,054 72 3,126 28.2.23 £ 296 28.2.23 £ - 8,776 76 8,852 9,148 Totals £ 25,197 23,085 92,324 29,135 |
|---|---|---|---|---|
| 169,741 |
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Notes to the Financial Statements - continued
For The Year Ended 29 February 2024
6. GRANTS PAYABLE
| Grants to individuals SUPPORT COSTS Management and administration NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Other operating leases |
29.2.24 28.2.23 £ £ 2,255 10,337 Governance costs £ 4,920 29.2.24 28.2.23 £ £ 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 29 February 2024 nor for the year ended 28 February 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 29 February 2024 nor for the year ended 28 February 2023.
10. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Unremunerated staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 118,938 Investment income 3,126 Total 122,064 EXPENDITURE ON Raising funds 9,148 Charitable activities Management and administration 29,506 Grants to individuals - |
29.2.24 1 Restricted funds £ - - - - - 32,847 |
28.2.23 1 Total funds £ 118,938 3,126 |
|---|---|---|
| 122,064 | ||
| 9,148 29,506 32,847 |
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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Style For Soldiers
Notes to the Financial Statements - continued For The Year Ended 29 February 2024
| 11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES - | ACTIVITIES - | continued | |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | funds | funds | |||
| £ | £ | £ | |||
| Annual Headley Court Patient Reunion | - | 68,011 | 68,011 | ||
| Networking for Soldiers | - | 37,792 | 37,792 | ||
| Total | 38,654 | 138,650 | 177,304 | ||
| NET INCOME/(EXPENDITURE) | 83,410 | (138,650) | (55,240) | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 369,071 | 172,846 | 541,917 | ||
| TOTAL FUNDS CARRIED FORWARD | 452,481 | 34,196 | 486,677 | ||
| 12. | FIXED ASSET INVESTMENTS | ||||
| Listed | |||||
| investments | |||||
| £ | |||||
| MARKET VALUE | |||||
| At 1 March 2023 | 256,306 | ||||
| Additions | 8,430 | ||||
| Revaluations | (3,078) | ||||
| At 29 February 2024 | 261,658 | ||||
| NET BOOK VALUE | |||||
| At 29 February 2024 | 261,658 | ||||
| At 28 February 2023 | 256,306 | ||||
| There were no investment assets outside the UK. | |||||
| Cost or valuation at 29 February 2024 is represented by: | |||||
| Listed | |||||
| investments | |||||
| £ | |||||
| Valuation in 2018 | (1,854) | ||||
| Valuation in 2020 | 2,592 | ||||
| Valuation in 2021 | 7,453 | ||||
| Valuation in 2022 | (3,078) | ||||
| Valuation in 2023 | (8,425) | ||||
| Valuation in 2024 | (3,079) | ||||
| Cost | 268,049 | ||||
| 261,658 |
Fixed asset investments were valued on an open market basis on 29 February 2024 by Church House Investment Management.
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Style For Soldiers
Notes to the Financial Statements - continued For The Year Ended 29 February 2024
| 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses 15. MOVEMENT IN FUNDS Net movement At 1.3.23 in funds £ £ Unrestricted funds General fund 452,481 (51,174) Restricted funds Clothing, Networking & Rehabilitation Fund 34,196 - TOTAL FUNDS 486,677 (51,174) Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 122,613 TOTAL FUNDS 122,613 |
29.2.24 28.2.23 £ £ 10,349 5,313 - 18,306 10,349 23,619 29.2.24 28.2.23 £ £ - 18,306 4,500 7,500 4,500 25,806 Transfers between At funds 29.2.24 £ £ 34,196 435,503 (34,196) - - 435,503 Resources Movement expended in funds £ £ (173,787) (51,174) (173,787) (51,174) |
|---|---|
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Style For Soldiers
Notes to the Financial Statements - continued For The Year Ended 29 February 2024
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1.3.22 | in funds | 28.2.23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 369,071 | 83,410 | 452,481 | ||
| Restricted funds | |||||
| Clothing, Networking & Rehabilitation | |||||
| Fund | 172,846 | (138,650) | 34,196 | ||
| TOTAL FUNDS | 541,917 | (55,240) | 486,677 | ||
| Comparative net movement in funds, included in | the above are as follows: | ||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 122,064 | (38,654) | 83,410 | ||
| Restricted funds | |||||
| Clothing, Networking & Rehabilitation | |||||
| Fund | - | (138,650) | (138,650) | ||
| TOTAL FUNDS | 122,064 | (177,304) | (55,240) | ||
| A current year 12 months and prior year 12 months combined position is as | follows: | ||||
| Net | Transfers | ||||
| movement | between | At | |||
| At 1.3.22 | in funds | funds | 29.2.24 | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General fund | 369,071 | 32,236 | 34,196 | 435,503 | |
| Restricted funds | |||||
| Clothing, Networking & Rehabilitation | |||||
| Fund | 172,846 | (138,650) | (34,196) | - | |
| TOTAL FUNDS | 541,917 | (106,414) | - | 435,503 |
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Style For Soldiers
Notes to the Financial Statements - continued For The Year Ended 29 February 2024
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 244,677 | (212,441) | 32,236 |
| Restricted funds | |||
| Clothing, Networking & Rehabilitation | |||
| Fund | - | (138,650) | (138,650) |
| TOTAL FUNDS | 244,677 | (351,091) | (106,414) |
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 £1,373 (2023 : £5,480).
During the year donations received from Emma Willis Limited totalled £1,908 (2023: £2,350l)
The company dedicated some of Mrs Corfield's and other employees 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 £8,000 (2023: £13,000). The company also provided the use of office facilities free of charge thought to be worth £10,000 (2023: £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..
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Style For Soldiers
| Detailed Statement of Financial Activities For The Year Ended 29 February 2024 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Donated services and facilities Investment income Investment income Deposit account interest Total incoming resources EXPENDITURE Raising donations and legacies Donations facilitation subs Other trading activities Commission Unrealised losses on investments Bank interest Charitable activities Rent costs donated in kind Wages costs donated in kind Postage and stationery Sundries Insurance Gifts for solders and partners Venue Hire Costs Hotel & travel for soldiers Networking for soldiers Sponsorship Grants to individuals Support costs Governance costs Accountancy Total resources expended Net expenditure |
29.2.24 £ 90,740 5,037 18,000 113,777 4,562 4,274 8,836 122,613 546 406 3,079 15 3,500 10,000 8,000 801 637 839 - 92,324 14,474 14,661 20,830 2,255 164,821 4,920 173,787 (51,174) |
28.2.23 £ 90,562 5,376 23,000 118,938 3,054 72 3,126 122,064 296 - 8,776 76 8,852 10,000 13,000 511 442 769 423 61,039 6,549 37,792 22,510 10,337 163,372 4,784 177,304 (55,240) |
|---|---|---|
This page does not form part of the statutory financial statements
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