Company No: 09415167 Charity No: 1164106 TROOP AID REPORT AND FINANCIAL STATEMENTS 31 March 2024 COLLINS CHARTERED ACCOUNTANTS WEST MIDLANDS
Contents Page Reference and Adminislrative Details Report of the Trust88s Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to Financial Statements Detailed Statement of Financial Activities 13
TROOP AID Company Informatlon Trustees MrDDJoss Captain I reldl A T Sutton G Sutton Miss D Frangou M Gough l Resigned 1 Mar 2023) { Appointed 1 Feb 2023} Company Secretary Mrs P R Sutton Company number 09415167 Charlty number 11641D6 Registsred offlco 21 Radway Road Shirley Solihull West Midlands B90 4NR Independent Examiner Collins The Lodge Castle Bromwich Hall Chester Road Castle Bromwich West Midlands B36 9DE Bankors Lloyds Bank PLC 9-11 Poplar Road Solihull B91 3AN
TROOP AID Report of the Trustees For the year ended 31 March 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 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accaunts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2015). Objectives and Activities objectives and Aims The charity exists to relieve serving personnel of the armed forces, injured in or returning from situations of training or armed conflict, who are in need by reason of distress, injury, sickness, disability or other disadvantage, through such charitablè means as the Trustees think fit. Publlc Benefit The Trustees believe that the organisalion has complied with the duty in Section 4 of the Charities Act 201110 have due regard lo public benefit guidance publish6d by the Charity Commission. Furthermore, Ihey believe that activities undertaken by the Charity further its charitable purposes for the public benefit. Volunteers Volunteers are essential lo the day to day running of the Charity and, as well as the Trustees, they include Grab Bag packers, ¢ffiGe 5UPPOrt and attendance al fundraising events throughout the country. Appropriate recruitment, induction and training ar8 provided. Close liaison is maintained with all volunteers and support is given when necessary. The Trustees value very highly the efforts of all of the dedicated volunteers and do not 88e the situation changing. Achlovement and Perfom)ance Key achlevements The demand for the services of Troop Aid has seen a small decrease during the reporting period. We continue to mèasure the demand and importanlly the quality and content of our'Grab Bags,.
TROOP AID Report of the Trustees For the ear ended 31 March 2024 FINANCIAL REVIEW Revlew of Activities and Results for thg Year The attached financial staternents show the financial performance and position of the Charity at 31 March 2024. The profile of the Charity has been enhanced due lo the emergency packs being sent to the many locations across the UK and around the world where British Troops are serving whether on operations or training exercises. During the year under review the Charity dispatched 589 Grab Bags against 890 during the previous reporting period. The Charity continues to supply olher items of clothing when necessary for both Male and Female injured service personnel. Since TroopAid was formed the charity has delivered approximately 17,800 Grab Bags lemergen¢y packs) to support British service personnel. The Trustees expect donations of emergency paGks lo remain at the similar levels over the next year as the support of troops in Eastern Europe is still unknown. During the period under review donations have increased from the previous year whilst income from clothing collection has decreased leading lo the creation of a profit in place of the prèvious year loss from normal activities resulting in an increase in overall reserve$. The impact of significant levels of inflation currently mean Ihat there will be pressures on donations and the charity remains diligence on costs and maintaining its profile in the ommunity so that il ¢an Gontinue to be at the forefront in attracting funding for it's activities. Reserves pollcy The Trustees believe that the Charity should maintain sufficient reserves to cover two years of expenditure based on trends to date. We have sufficient funds to cover this reserv&. FUTURE PLANS 11 is the Truslees, continued wish that the Charity maintains ils status quo. They do not see any major changes in the modus operandi. The size of the Charity as it presently stands is considered to be manageable and there is a wish to maintain operations as they are. STRUCTURE, GOVERNANCE AND MANAGEMENT Govèrning document The charity is controlled by its governing document. a deed of trust, and constrtutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
TROOP AID Report of the Trustees For the ear ended 31 March 2024 Charity constitution Troop Aid {"The Charity") was incorporated on 30 January 2015 and registered as a charity on 26 October 2015. The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of a winding up members are required to contribute an amount not exceeding £1. Charitable activity was previously carried out by the Troop Aid Charitable Trust. On 1 April 2015 the assets and liabilities of the Charitable Trust were transferred lo the Company, with the Chantable Trust acting as nominee for Troop Aid Limited until the date that the company achieved charitable status. This resulted in a donation to the Charity of £696.440 on Ihe transfer of activities from th8 Charitable Trust. Recruitment, appointment, Inductlon and tralnlng of trustsès The Iruslees have the power to appoint new trustees and select them based on the ski118 set and experience being brought to the charity. Recruilmenl of new trustees is by personal recommendation. During induction and training the new trustees are provided with suitable material to ensure they understand the charitable purpose and operating policies of Troop Aid together with what the role of being a Trustee involves viz a viz their responsibilities. Organlsatlonal structure The Trustees who served during the year and up to the date of this report are set out on page 1, Trustees are appointed by the Board of Trustees. The Trustees meet regularly under the yèar of this review meetings were held via Zoom to discuss issues relevant to the Charity and to its future development. The day to day running of the Charity has been delegated lo Mrs P R Sutton who acts as Secretary io the Charity and regularly involves the Trustees in planning of events and decisions of the day lo day running of the charity. Trustee remuneratlon None of the Trustees has received any remuneration or similar benefits from the Charity. Out of pocket travel and subsistence expense6 were reimbursed lo the Trustees during the year under review. The Charity has professional indemnrty insurance on behalf of the Trustees. Approved by order of the board of trustees on 10 December 2024 and signed on its behalf Miss D Frangou
TROOP AID Independent Examiner's Report to the Trustee$ of Troop Aid We report on the accounts for the year ended 31 March 2024 set out on pages six to thirteen. Respective responsibilities of trusta•$ and gxamingr Thé chanty's Iruslees (who are the directors for the purpose of company law} are responsible for the preparation of the accounts. The charity's trustees consider thal an audit is not required for this year (under Section 144 {21 of the Charities AGt 2011 (the 2011 Act)) and that an independent examination is required. Having satisfied ourselves that the charity is not subject to audit under company law and Is eligible for independent examination, it is our responsibility to.. examine the accounts under Section 145 of the 2011 AGt lo follow the procedures laid down in the General Directions given by the Charity Commission (und8r Section 145{5llbl of the 2011 Act}., and to state whether particular matters hav8 come to our altention. Basis of the independent examlnarfs report Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of thè accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and Consequenlly no opinion 1$ given as to whether the accounts present a 'lrue and fair view, and the report is limited lo those matters sel out in the statements below. Independent examlner's stat8m&nt In connection with our examination, no matter has Come to our attention.. 11) which gives us reasonable cause to believe that, in any material asped, the requirements to keep accounting records in accordance with Section 386 and 387 of th6 Companies Act 2006., and lo prepare accounts which accord wllh the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the 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 2015) have not be8n mel., or {2} to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. CLoCL4 Collins Chartered Accountants The Lodge, Castle Bromwlch Hall Chester Road Castl8 Bromwlch West Midlands B36 9DE Date.. 10 December 2024
TROOP AID Statement of Financial Activities For the year ended 31 March 2024 Notes 2024 2023 Income and endowments Donations and legacies Other trading activities Investment Incom8 Total Income 32,163 55,026 16 87,205 31,740 53.444 914 86,098 Expendlture Raising Funds Other trading activities 34,812 31,229 Charitable activltles Supporting injured troops Total expendlture 49,562 84,374 51,492 82,721 Nel income 2,831 3,377 Excepiional income profit on asset sale 4,529 Total net Sncome 7,360 3,377 Reconclllatlon of funds. Total funds brought forward 567,291 563.914 Total funds carrled forward 574.651 567,291 Contlnulng operatlon8 All income and expenditure has arisen from continuing activities.
TROOP AID Balance sheet As at 31 P*larch 2024 Notes 2024 2023 Fixed assets Tangible assets Current assets Investments Stocks Deblors Cash at bank 10 38,834 13,968 285.000 31.131 2,556 219,058 537.745 200,000 25,392 1,018 329,567 555,977 12 Credltors: amounts falling due within one year Ngt curront assets 13 1,928 2,654 535,817 553,323 Net assèts 574,651 567,291 Funds Unrestricted funds 14 574,651 567,291 The directors arè satisfied thal the company Is entitled to 8xemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. Members have not required the company lo obtain an audit in accordance with section 476 of the Act. The directors acknowledge thelr responsibS1ilies for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of a¢¢ounls The financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The Income and Expenditure account has not been delivered to the Registrar of Companies. The financial statements were approved by the board on 10 December 2024 On behalf of thtrwrd Miss D Frangou Trustee
TROOP AID Notes to the financial statements For the year ended 31 March 2024 1 Accounting policles Basis of preparing the flnanclal 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 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffedive 1 January 2015),. 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 ¢onvention. 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. For donations to be recognised the charity will have been notified of the amounts and the seltlement date in writing. If there are conditions attached to the donation and this requires level of performanc8 b8for8 entitlement Gan be obtained, thèn incom8 is deferred until those conditions are fully met or the fulfilment of thos8 conditions is within the control of the charity and it is probable that they will be fulfilled in the reporting period. Legacy gifts are re¢ognised on a case by case basis following the granting of probate when the administratorlexe¢utor for the estate has Gommuni¢ated in writing both the amount and settlement dale. In the event that the gift is in the form of an asset other than cash or a financi81 assét traded on a recognised stock exchange, recognition is subject to the value of the gift being r61iably measurable with a degree of r8asonabl8 accuracy and the title to the asset having been transferred to the charity. Donated facilities and donated professional services are recognised as income al their fair value when their economi¢ benefit is probable, il ¢an be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity, for example the amount the charily would be willing to pay in the open market for such facilities and services. A ¢orre$ponding amount Is recognised as expenditur8. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees. Annual Report, where relevant. Investment income is earned through holding assets for investment purposes such as term deposit accounts. It includes interest income which is recognised as it a¢¢rues. Expendlture Liabilities are recognised as expendilure as soon as there is a legal or constructive obligation cornmitting the charily 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 lo the Gategory. Where cost5 annot be diredly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. The costs of items purchased for and note yet distributed to Ihe bèneficiaries of the charity are reported as stocks.
TROOP AID Notes to the financial statements - (continued) For the ear ended 31 March 2024 1 Accounting Policios (continued) Allocation and apportionment of support costs Support costs are those that assist the work of the charity but do not directly represent charitable activities and included premises Costs, office costs, governance costs, administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular activities, they have been allocated to 8xpendilure on a basis which may be based on activity as represented by direct costs expended on that activity. or bas8d on a proportion of staff costs. Tangible flxed assets Depreciation is provided at the following annual rates in order lo write off 8ach asset over its estimated useful life. Improvements to leasehold property Computer equipment Motor vehicles over remaining life of lease 33.330/0 on cost 250/0 on reducing balance The charity capitalises all fixed assets where the purchase price exceeds £500. They are valued at cost or estimated cost lo the donor, where assets are donated. Taxallon The charity is exempt from corporation tax on ils charitable activities. Fund accountlng Unrestricted funds can be used in accordance with the ¢haritable 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. Designated funds are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects. Further explanation of the nature and purpose of each fund is included in the notes lo the financial statements. 2 Donatlons and legacles 2023 2023 Donations Legacy ( Part payment of a legacy from Mrs Elizabeth Coward Deceased) 23,513 30,740 8,650 32,163 31,740
TROOP AID Notes to the financial statements (continuod} For the year ended 31 March 2024 3 Other trading activltlas - incorne 2024 2023 Sale of donated clothing Fundraising activities 32,480 22,546 55,026 35,329 18,115 53,444 4 Other trading actlvlties - expenditure 2024 2023 Cost of fundraising activitl8S Publicity Support costs { note 6) 8,910 41 27,574 36,525 7,414 836 31,429 5 Charltable activities 2024 2023 Supporting injured troops Direct costs Support costs (Note 6} 3.945 43.904 47,849 11,492 51,492 6 Support costs Supporting injured troop$ Other trade Total Staff costs Motor and travel Premises Office costs Other costs Governance Total 23,102 2,805 13,065 4,408 4,400 4,207 13,065 4,409 854 639 27,502 7,012 26,130 8,817 854 1,163 524 10
TROOP AID Notes to the financlal statements (continued For the ear ended 31 March 2024 Net incomel{expendituro) Nel incomel{expenditure) is stated after charging /lcrediting}'. 2023 2023 Depreciation - owned assets Independent exafflination fee 4,219 960 5,589 960 8 Trustees, remuneratlon and beneflts There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the period ended 31 March 2023. Trustees, expenses No trustees were paid any travel expens8s in either year 9 Staff cost8 2024 2023 Wages and salaries 27,502 23,073 The average monthly numb8r of employees including part-time during the year was as follows.. Administration 10 Tanglble fixed assets Improvements to leasehold property Computer equipment Motor vehicle8 Totals Cost At 1 April 2023 Additions Disposalsl Write offs At 31 March 2024 4,487 1,801 8,460 2,148 4,558 6,050 25,426 36,607 25,426 36 607 38,373 40,556 29 984 48,945 Depreclatlon At 1 April 2023 Charge for year Eliminate disposals I write offs At 31 March 2024 3,098 1,164 7,352 995 4,558 3,789 13,955 2,060 13,955 2,060 24,405 4,219 10,111 Nel book value At 31 March 2024 At 31 March 2023 2,026 1,389 2,261 1,108 34,547 11,471 38,834 13,968
TROOP AID Noles to the financial statements (continued) For the ear ended 31 March 2024 11 Investments 2024 2023 Aegon General Investment account 285 000 200,000 The investment is included in these accounts at ils cost prlce. At 31 March 2024 the valuation of the investment stood at £345,800 12 Debtors: amounts falllng due within one year 2024 2023 Prepayments 2,656 1,018 13 Credltor8: amounts falllng due wlthln one year 2024 2023 Social security and other taxes Accrued expenses 449 1,479 1,928 409 2,245 2,654 Net movement In funds 14 Movement In funds At 1.4.23 At 31.3.23 Unrestrlcted funds General fund Restrlcted Funds QE Hospital Fund Total fund$ 565,024 7,516 572,540 2.267 567,291 156 2,111 574,651 7,360 Net movement in funds, included in the above are as follows.. Incornlng resources Resources Movement expended in fund$ Unr8Stri¢ted funds General fund Restrlcted Funds QE Hospital Fund 91,734 (84,218) 7,516 {156} {156) 91,734 (84,374) 7,360 15 Related paty disclosures Mrs P R SLrtton is the wife of Captain A T Sutton, one of the Trustees of Troop Aid. She is also its Chief Executive. With the approval of the Charity Commission, Mrs P R Sutton was paid by the charity during the year £12.000 {2023 £12,000). 12