CHARITY REGISTRATION NUMBER: 1167815
Veterans for Wildlife
A Charitable Incorporated Organisation Unaudited Financial Statements
31 May 2024
Veterans for Wildlife
Financial Statements
Year ended 31 May 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 11 |
| Statement of financial activities | 12 |
| Statement of financial position | 13 |
| Notes to the financial statements | 14 |
Veterans for Wildlife
Trustees' Annual Report
Year ended 31 May 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 May 2024.
NOTE FROM THE CHAIRMAN
This report for the year ending 31 May 2024 sets out the year’s activities, objectives, achievements, and future plans.
The year ending 31 May 2024 saw very limited activity due to limited resource and capacity.
The trustees maintained the decision from the previous year not to actively fundraise but are committed to remaining a viable mechanism to support the original objectives of preventing wildlife crime and empowering former service personnel.
Robin Simpson Chairman Veterans for Wildlife
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Veterans for Wildlife
Trustees' Annual Report
Year ended 31 May 2024
OBJECTIVES, ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE
Mission:
Prevention of wildlife crime through empowerment of veterans
Our Objectives:
Veterans for Wildlife (also known as V4W) is an international charity committed to the protection of wildlife and the world’s critically endangered species. By deploying highly skilled and experienced former service personnel, Veterans for Wildlife aims to play a key role in conservation and the prevention of wildlife crime.
Our objects as set out in our Constitution are: “To promote the care and protection of endangered species in Africa, particularly but not exclusively rhinos, for the public benefit, which are at risk from poaching, by the provision of anti-poaching training to national parks, reserves and wildlife conservation areas”.
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As a people-focused organisation, Veterans for Wildlife has two primary objectives:
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Supporting conservation entities and rangers at grass root levels.
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The empowerment of veterans.
By facilitating critical capacity-building programmes, Veterans for Wildlife aims to develop the skill set and operational effectiveness of anti-poaching rangers. These programmes offer a unique opportunity for veterans, transitioning into civilian life, to continue to make a positive impact on society.
In developing these objectives, the trustees have given due regard to guidance from the Charity Commission on public benefit.
Veterans for Wildlife’s work benefits the millions of people around the world who love and respect animals and wildlife in particular. Our activities also benefit the environment at large, which is of benefit to everyone. Through our activi ties we are also able to empower veterans as well as rangers and the entities on the ground for whom they work.
Our Activities:
Veterans for Wildlife has adopted a multi-pronged approach to making a positive difference on a global scale. Our overarching vision can best be encapsulated in the phrase: veterans for wildlife and wildlife for veterans. What does this mean?
Simply put, at the outset the trustees recognised the positive impact that former service personnel could play in the conservation sector in Africa and elsewhere. Through embedding highly skilled and experienced individuals into existing organisations and programmes, Veterans for Wildlife is able to improve the operational effectiveness and efficiency of these ground-level initiatives.
But the benefit doesn't stop there. It isn't a one-way process. Through time spent in the African bushveld and other rural parts of the world, interacting with individuals from different cultures and with different life experiences, coming face-to-face with Africa and the world’s magnificent wildlife, and ultimately committing themselves to a positive calling, our volunteers benefit too.
Working together, for the common good, everybody wins. Especially, the vulnerable and voiceless animals at the heart of what we do.
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Veterans for Wildlife
Trustees' Annual Report
Year ended 31 May 2024
Protect:
Thanks to our very generous volunteers, donors and partners, Veterans for Wildlife is in a position to play a direct role in the protection of Africa and the world's wildlife.
To be clear, Veterans for Wildlife does not deploy personnel in armed, so-called 'front line' roles. This function necessarily needs to be fulfilled by local citizens employed by the appropriate authorities - tasked by the government or duly authorised by law enforcement to do so.
However, the brave men and women at the sharp end of anti-poaching operations cannot do the job in isolation. They require support - operational support. And this is where Veterans for Wildlife personnel come into their own. Drawing on years of relevant, recent experience volunteers are able to plug capacity gaps in areas such as intelligence, surveillance, communications and other functions.
Moreover critical resource shortfalls can be addressed by drawing upon Veterans for Wildlife's global network of partners and unique insights at ground-level. Both of which are by-products of the time and effort we invest in building meaningful relationships with stakeholders at all levels.
Educate:
Arguably one of the most important aspects of what Veterans for Wildlife does is capacity-building at ground-level. Local people and local organisations are ultimately the only ones who can arrest the poaching crisis in its tracks and reverse the damage already done. But they need our collective assistance.
Drawing upon years of experience, in diverse operating environments, whilst embedded with multiple host nation forces, Veterans for Wildlife volunteers are unparalleled in their ability to deliver world- class training. From field craft, through command, leadership and management, to combat medicine and everything in between.
Of course, the African bushveld and other areas in which we operate present unique operating environments and our personnel are well aware that some techniques and procedures may not directly translate from other parts of the world. In the same breath, however, many of the underlying principles are universal. And it is at this basic, fundamental level that Veterans for Wildlife looks to transfer skills and knowledge.
Empower:
The learning process flows both ways. Just as Veterans for Wildlife volunteers have a wealth of experience and knowledge to impart, so too do they have much to learn themselves.
By providing what is for much ex-service personnel a once-in-a-lifetime opportunity, Veterans for Wildlife is playing a critical role in the development of these individuals as they transition out of military life. One simply cannot deny the magic of Africa and other wildlife habitats - all those who travel to these locations can't help but fall in love with them. As an organisation, Veterans for Wildlife has witnessed first-hand the positive personal impact that time spent in the ‘field’ has had on our people.
This can be attributed to the serenity of the environment, the opportunity to broaden one's horizons amongst and learn from people from different cultures, being involved in a cause greater than oneself, and ultimately empathising with the vulnerable animals at the heart of what we do.
Over and above these indirect influences, Veterans for Wildlife aims to assist the veteran community through direct interventions. A host of training, wellness and employment opportunities are also available, via our generous donors and partners, to individuals that are part of the Veterans for Wildlife family.
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Veterans for Wildlife
Trustees' Annual Report
Year ended 31 May 2024
OUR PROJECTS
NIL for the reporting period.
PLANS FOR THE FUTURE
During the next five-year period the strategic plan seeks to maximize the impact the group achieves at ground level in order to fulfil its two main charitable aims:
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Prevention of wildlife crime.
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Empowerment. Increase the total number of veterans suitably skilled and qualified to pursue civilian employment having left the Armed Forces.
This strategy is guided by the Veterans for Wildlife theory of change and is further broken down into three intermediate steps or strategies.
Strategy One
Train, Support, Mentor
Veterans for Wildlife will work in partnership with ground-level conservation organisations, which typically suffer from a lack of resources to train, support, and mentor their management and antipoaching teams.
This will be achieved by employing veteran volunteers from around the world.
The aim being to upskill, better prepare, and increase the morale and confidence of the anti-poaching teams.
Strategy Two
Technical Support
Using the diverse and specialised skills and experience of the group’s veteran volunteers Veterans for Wildlife will assist and support ground-level conservation organisations by providing technical support and assistance to their various anti-poaching programmes.
Without the technical know-how of a specialist these complex systems designed to detect, deter and detain poachers are often rendered ineffective.
Strategy Three
Veteran Empowerment
Veterans for Wildlife projects allow individuals to operate in familiar circumstances, tapping into a set of well-honed skills, amongst like-minded people, in support of an undoubtedly worthy cause.
Thus, boosting their confidence, providing them with invaluable work and life experience, as well as the opportunity to develop and grow their own support network, all whilst feeling deservedly proud of what they have achieved and been involved in.
FINANCIAL REVIEW
Details of income and expenditure are shown on page 12.
The charity had income of £18,948 during the year (2022: £13,784). The main sources of income were donations of £1281.68 and provision of training services of £17,667.
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Veterans for Wildlife
Trustees' Annual Report
Year ended 31 May 2024
During the year the charity incurred £nil. in costs of raising funds and £7,138 in charitable expenditure.
The Balance Sheet on page 13 shows the financial position of the Charity as at 31 May 2023. The charity had net liabilities of £10,009 at 31 May 2023.
Reserves Policy
The purpose of the Operating Reserve Policy for Veterans For Wildlife is to ensure the stability of the mission, programmes, employment and ongoing operations of the organisation. The Operating Reserve is intended to provide an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, an unanticipated loss in funding, or uninsured losses. The Reserve may also be used for one-time, nonrecurring expenses that will build long-term capacity, such as staff development, research and development, or investment in infrastructure.
Operating Reserves are not intended to replace a permanent loss of funds or eliminate an ongoing budget gap. It is the intention of Veterans for Wildlife that Operating Reserves are to be used and replenished within a reasonably short period of time. The Operating Reserve Policy will be implemented in concert with the other governance and financial policies of Veterans for Wildlife and is intended to support the goals and strategies contained in these related policies and in strategic and operational plans.
Veterans for Wildlife aims to retain adequate reserves to maintain ongoing core operations for two months, should this be needed in an emergency situation. This is currently set at £3,000 and will be administered via a separate instant access savings account. The Operating Reserve Fund will be funded with surplus unrestricted operating funds. The board of trustees may, from time to time, direct that a specific source of revenue be set aside for Operating Reserves. Examples may include one-time gifts or bequests, special grants, or special appeals.
Free reserves at 31 May 2023 were £nil. The charity had net liabilities of £10,009 at 31 May 2023. Ongoing involvement with revenue generating Partnership Projects and planned fund-raising activities are forecast to cover net liabilities and return the Charity to a financially stable position.
Use of Reserves:
As per the charity’s Reserve Policy (“the Policy”), use of the Operating Reserves requires three steps to be taken prior to any funds being released:
1. Identification of Appropriate Use of Reserve Funds :
The Operations staff will identify the need for access to reserve funds and confirm that the use is consistent with the purpose of the reserves as described in the Policy. This step requires analysis of the reason for the shortfall, the availability of any other sources of funds before using reserves, and evaluation of the time period that the funds will be required and replenished.
2. Authority for Use of Operating Reserves:
This is delegated to the Operations Manager in consultation with Trustees. The use of Operating Reserves will be reported to the full board of trustees at their next scheduled meeting, accompanied by a description of the analysis and determination of the use of funds and plans for replenishment to restore the Operating Reserve Fund to the target minimum amount. The Operations Manager must receive prior approval from the board of trustees if the Operating Reserves will take longer than 12 months to replenish.
3. Reporting and Monitoring:
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Veterans for Wildlife
Trustees' Annual Report
Year ended 31 May 2024
The Operations Manager is responsible for ensuring that the Operating Reserve Fund is maintained and used only as described in the Policy. Upon approval for the use of Operating Reserve funds, the Ops Manager will maintain records of the use of funds and plan for replenishment. He will provide regular reports to the board of trustees of progress to restore the Fund to the target minimum amount.
Risk Management
The charity’s Trustees are ultimately responsible for the organisation’s activity. Including whether or not, as well as exactly how it goes about achieving its aims and supports its beneficiaries. The risk management process forms a key component of this overarching function. However, day-to-day authority for risk management has been delegated by the Trustees down to Veterans for Wildlife’s Operational Management team as well as certain external service providers. Thus ensuring that riskrelated decisions are taken by the most appropriately informed and positioned individual or team. Of course, these decisions are made within the context of underlying risk tolerances set by the Trustees.
Supported by a clear reporting and escalation process for those risks that may exceed these tolerance levels. This separation of powers, between authority and responsibility, allows Veterans for Wildlife’s Trustees to assume an arms-length position from the execution of the charity’s strategy. Thereby better facilitating the Trustees’ primary oversight role. Within this context, the key risk types facing Veterans for Wildlife (governance, operational, external, financial and compliance) have been further delegated between the Operational Management team.
Veterans for Wildlife’s Board of Trustees have direct authority over the identification, assessment and management of the organisation’s governance, external and financial risks. The Operations Manager, on the other hand, has direct authority for how operational and compliance risks are managed. These individuals are supported in fulfilling the above functions by other members of the veterans for Wildlife staff as well as contracted professional advisors.
STRUCTURE, GOVERNANCE AND MANAGEMENT Legal Status
Veterans for Wildlife is a Charitable Incorporated Organisation. Its governing document is a ‘Foundation’ model constitution. The charity was registered with the United Kingdom Charity Commission on 26 June 2016 with the charity number 1167815.
Governing Body And Structure
Veterans for Wildlife is governed by a board of trustees, of which there are currently four. This board is overseen by a Chairman of trustees as appointed during an annual general meeting (AGM). As per the charity’s model constitution there is to be at all times a minimum of three trustees.
As per the charity’s model constitution no trustee receives any form of remuneration for carrying out their duties as a trustee.
Trustee Recruitment
Veterans for Wildlife has a robust trustee recruitment and appointment policy. As per the charity’s model constitution every trustee must be appointed for a period of three years by a resolution passed at a properly convened meeting of the charity trustees.
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Veterans for Wildlife
Trustees' Annual Report
Year ended 31 May 2024
Skills Audit:
Whenever a trustee departs a skills audit of the board will be conducted in the form of an informal trustee meeting. The end product of a skills audit will be a trustee role description from which a recruitment campaign can be built. Efforts at recruiting a replacement will take account of the skills audit and of the skills being lost by the departure. Consideration must also be given to any specific roles or duties that the individual leaving the board was undertaking.
Recruitment:
Once the ideal skill/experience profile has been identified a recruitment plan will be formulated. This will identify the most appropriate resources from which applicants might be found. Preference should be given to advertisement in the media, volunteer bureau, and direct approaches to professional bodies as well as to other voluntary organisations rather than approaches to personal contacts. As the intention is to promote diversity within the board and to avoid conflicts of interest as far as possible.
Veterans for Wildlife seeks to ensure diversity in its board of trustees as well as in its staff base and consideration will be given to ways in which groups that are under-represented on the board might be reached and encouraged to apply. However, at the point of selecting the board will not discriminate unfairly on any of the grounds listed in the Equal Opportunities Policy.
People enquiring to become trustees will be sent appropriate documentation about the charity, introductory material about trusteeship and will be asked to complete an application form. Arrangements will be made to assist any potential applicant with specific needs in relation to the completion of the form or access to the supporting materials.
Interview, Selection and Appointment:
Applicants who appear suitable will be invited to attend a trustee meeting as an observer and will receive further information regarding the role of a trustee. In the event of there being a large number of applicants those most closely matching the skills required will be approached at this stage in preference to less suitable applicants. However, consideration will be given to appointing more than one suitable applicant. As a minimum, and if not sent earlier in the process, applicants will be provided with a copy of the latest accounts of the charity; Charity Commission Publication CC3- ‘Responsibilities of Charity Trustees’; a copy of the charity’s governing document; a copy of the minutes of the last three board meetings (edited to conform with the principles of data protection if necessary); a trustee ‘job description’; relevant policies including those regarding equal opportunities and conflicts of interest; and, a copy of this report.
The applicant will then be interviewed by the recruiting panel and efforts will be made to answer any questions that they may have. The applicant will be asked to declare any conflicts of interest and will be required to provide two references, which will be taken up prior to the next board meeting. The applicant will be required to sign a declaration that they are not disqualified from being a trustee as per section 72 (1) of The Charities Act 1993. The requirement to attend trustee induction sessions will be described. It is the responsibility of the trustees on the recruiting panel to ensure that references are obtained and all other relevant checks are completed.
The applicant will be asked whether or not they wish to be appointed and will be given the opportunity to attend a further meeting as an observer should they wish to do so. The observations and recommendations of the panel will be put to the following board meeting and a vote taken in accordance with the procedure for appointing co-opted trustees detailed in the governing document.
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Trustees' Annual Report
Veterans for Wildlife
Year ended 31 May 2024
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Veterans for Wildlife
Trustees' Annual Report
Year ended 31 May 2024
Reference and administrative details
Registered charity name Veterans for Wildlife Charity registration number 1167815 Principal office and registered London Scottish Regimental Trust office London Scottish House 95 Horseferry London SW1P 2DX The trustees I Baldwin W Gold J Glancy R Simpson (Chair) Bank CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
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Veterans for Wildlife
Trustees' Annual Report
Year ended 31 May 2024
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (The United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires that the trustees prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgments and accounting estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity 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 charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees' annual report and the strategic report were approved on 31 March 2024 and signed on behalf of the board of trustees by:
R Simpson Trustee
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Veterans for Wildlife
Statement of Financial Activities
Year ended 31 May 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ |
£ | £ | |
| Income | ||||
| Donations and legacies | 4 | 1,500 |
1,500 | 1,281 |
| Charitable activities | 5 | 3,500 |
3,500 | 17,667 |
| Other trading activities | 6 | - |
- | - |
| Investment income | 7 | - |
- | - |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 5,000 | 5,000 | 18,948 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds | 8 | (-) |
(-) | - |
| Expenditure on charitable activities | 9,10 | (2,000) |
(2,000) | (7,138) |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | (2,000) | (-2,000) | (7,138) | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net expenditure and net movement in funds | 3,000 | 3,000 | 11,810 | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | (10,009) | (10,009) | (17,726) | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | (7,009) | (7,009) | (10,009) | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 14 to 20 form part of these financial statements.
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Veterans for Wildlife
Statement of Financial Position
31 May 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 14 | - | - |
| Cash at bank and in hand | (3,316) | 7,482 | |
| --------------------------- | --------------------------- | ||
| (3,316 | 7,482 | ||
| Creditors: amounts falling due within one year | 15 | (-) | (17,491) |
| --------------------------- | --------------------------- | ||
| Net current liabilities | (3,316) | (10,009) | |
| ----------------------- | --------------------------- | ||
| Total assets less current liabilities | (3,316) | (10,009) | |
| ----------------------- | --------------------------- | ||
| Net liabilities | (3,316) | (10,009) | |
| ======================= | =========================== | ||
| Funds of the charity | |||
| Unrestricted funds | (3,316) | (10,009) | |
| ----------------------- | --------------------------- | ||
| Total charity funds | 16 | (3,316) ======================= |
(10,009) =========================== |
These financial statements were approved by the board of trustees and authorised for issue on 31 March 2025, and are signed on behalf of the board by:
R Simpson Trustee
The notes on pages 14 to 20 form part of these financial statements.
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Veterans for Wildlife
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The charity is a public benefit entity and a Charitable Incorporated Organisation, registered in England and Wales. The address of the registered office is London Scottish Regimental Trust, London Scottish House, 95 Horseferry, London, SW1P 2DX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest £1.
Going concern
There are no material uncertainties about the charity's ability to continue. Ongoing involvement with revenue generating Partnership Projects and planned fund raising activities are forecast to cover net liabilities and return the Charity to a financially stable position.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.
Cash flow
The charity has taken advantage of the exemption in the Charities SORP FRS 102 from the requirement to produce a cashflow statement on the grounds that it is a small charity.
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Veterans for Wildlife
Notes to the Financial Statements (continued)
Year ended 31 May 2024
3. Accounting policies (continued)
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There are no significant areas requiring material judgements, estimates or assumptions.
Taxation
The charity is exempt from tax on income and gains to the extent these are applied to its charitable objectives.
Income
All income is included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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income from fundraising events is recognised when the event takes place.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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Interest is included when receivable by the charity.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events and noncharitable trading activities.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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Veterans for Wildlife
Notes to the Financial Statements (continued)
Year ended 31 May 2024
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Debtors
Other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the 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 settlement amount after allowing for any trade discounts due.
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Veterans for Wildlife
Notes to the Financial Statements (continued)
Year ended 31 May 2024
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations and legacies | 5,000 | 5,000 | 1,281.68 | 1281.68 |
| =========================== | =========================== | =========================== | =========================== | |
| Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Grants | - | - | - | - |
| Training services | - | - | 17,667 | 17,667 |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | |
| - | - | 17,667 | 17,667 | |
| =========================== | =========================== | =========================== | =========================== |
5. Charitable activities
6. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Fundraising events | - | - | - | - |
| ================================ | ================================ | ================================ | ================================ | |
| nvestment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Bank interest receivable | - | - | - | - |
| ============== | ============== | ============== | ============== |
7. Investment income
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Veterans for Wildlife
Notes to the Financial Statements (continued)
Year ended 31 May 2024
8. Costs of raising funds
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Fundraising expenses | - | - | - | - |
| =========================== | =========================== | =========================== | =========================== | |
| Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable projects | - | - | 7,138 | 7,138 |
| Support costs | - | - | - | - |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| - | - | 7,138 | 7,138 | |
| ================================ | ================================ | ================================ | ================================ | |
| Expenditure on charitable activities by activity type | ||||
| Activities | ||||
| undertaken | Support | Total funds | ||
| directly | costs | 2024 | ||
| £ | £ | £ | ||
| Charitable projects | - | - | - | |
| Governance costs | - | 2,000 | 2,000 | |
| -------------------------------- | --------------------------- | -------------------------------- | ||
| - | 2,000 | 2,000 | ||
| ================================ | =========================== | ================================ | ||
| Activities | ||||
| undertaken | Support | Total funds | ||
| directly | costs | 2023 | ||
| £ | £ | £ | ||
| Charitable projects | 7,138 | - | 7,138 | |
| Governance costs | – | 7,600 | 7,600 | |
| -------------------------------- | --------------------------- | -------------------------------- | ||
| 7,138 | 7,600 | 14,738 | ||
| ================================ | =========================== | ================================ | ||
| Analysis of support costs | ||||
| Total 2024 | Total 2023 | |||
| £ | £ | |||
| Communications and IT | - | 2,731 | ||
| Finance costs | - | - | ||
| Governance costs | 2,000 | 7,600 | ||
| --------------------------- | --------------------------- | |||
| 2,000 | 10,331 | |||
| =========================== | =========================== |
9. Expenditure on charitable activities by fund type
10. Expenditure on charitable activities by activity type
11. Analysis of support costs
Support costs are allocated based on an estimate of trustees and staff time spent on each activity.
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Veterans for Wildlife
Notes to the Financial Statements (continued)
Year ended 31 May 2024
12. Independent examination fees
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 2,000 ======================= |
7,600 ============== |
13. Trustee remuneration and expenses and staff costs
None of the Trustees (or any persons connected with them) received any remuneration or reimbursement of out-of-pocket expenses from the charity during the current or prior year.
The charity did not employ any staff in the current or prior year.
14. Debtors
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other debtors | - | - | ||
| ======================= | ======================= | |||
| 15. | Creditors: amounts falling due within one year | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Accruals and deferred income | - | - | ||
| Other taxation and social security | - | 7,891 | ||
| Other creditors | - | - | ||
| --------------------------- | ----------------------- | |||
| - | 7,891 | |||
| =========================== | ======================= |
16. Analysis of charitable funds
Unrestricted funds
| At | At | ||||
|---|---|---|---|---|---|
| 1 | June 2023 | Income | Expenditure | 31 May 2024 | |
| £ | £ | £ | £ | ||
| General funds | (5,916) | 5,000 | (2,400) | (3,316) | |
| At | At | ||||
| 1 | June 2022 | Income | Expenditure | 31 May 2023 | |
| £ | £ | £ | £ | ||
| General funds | (17,726) | 18,948 | (7,138) | (5,916) |
|
| =========================== | ================================ | ================================ | ======================= |
19
Veterans for Wildlife
Notes to the Financial Statements (continued)
Year ended 31 May 2024
17. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Current assets | (3,316) | (3,316) |
| Creditors less than 1 year | - | - |
| --------------------------- | --------------------------- | |
| Net liabilities | (3,316) | (3,316) |
| =========================== | =========================== | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Current assets | 7,482 | 7,482 |
| Creditors less than 1 year | (17,491) | (17,491) |
| --------------------------- | --------------------------- | |
| Net liabilities | (10,009) =========================== |
(10,009) =========================== |
18. Related party transactions
Nil.
20