REGISTERED CHARITY NUMBER: 1170035
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
FOR
FUTURE TERRAIN
Peter Jarman LLP trading as Peter Jarman & Company 1 Harbour House Harbour Way Shoreham by Sea West Sussex BN43 5HZ
FUTURE TERRAIN
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
FUTURE TERRAIN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
The trustees present their report with the financial statements of the charity for the year ended 30 April 2023. 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 and aims
The charity's objects ('objects') are to relieve the needs of wounded, injured and sick service personnel and veterans and their family members by such means as the trustees may from time to time determine, in particular but not exclusively: (a) by delivering a campaign of awareness of and support to wounded service personnel and veterans and their family members;
(b) by empowering, engaging and inspiring the disabled and disadvantaged community by the provision of training, development and assistance to wounded service personnel and veterans enabling them to compete alongside able-bodied persons in challenging sporting and expedition events.
(c) In doing so to raise public awareness of and make grants to beneficiary charities who are concerned with the relief of disabled and disadvantaged wounded service personnel and veterans and the assistance of their family members; and (d) by providing training and assistance to enable wounded, injured and sick service personnel and veterans to transition into civilian roles and careers.
Defined terms: "family members" means in relation to wounded service personnel or veterans, their spouse, widow or widower and any child (including step or adopted child) living in their household or the household of their common-law spouse, life partner or civil partner. "Wounded, injured and sick service personnel" means persons who have been wounded, injured, or become sick and who have served in the armed forces of the United Kingdom and NATO; "veterans" means persons who have retired from service in the armed forces of the United Kingdom and NATO.
Public benefit
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Volunteers
The charity continues to rely on the many volunteers who give their time in support of its charitable aims and objectives. Future Terrain continues to balance its volunteers' goodwill and time against its charitable objectives, it remains mindful of distributing requests for support and volunteer days amongst helpers. By tracking volunteer support and days Future Terrain tries to minimise reliance on any one individual and spread-out support on a fair basis.
The trustees and management team in reporting period 2023 continued the volunteer only model staffing approach. The current model in 2023, volunteer only, places significant emphasis on a number of key individuals, the trustees recognise that in order to deliver on long term requests and benefits there may be an element that should be paid or outsourced. The current model sets conditions for a positive volunteering environment and is seen as one of the key strengths of the charity's propositions, both to beneficiaries and volunteers. However, this will need to be balanced against overall demand and requirements for the charitable objectives, services and outcomes. This element will continue to be monitored by the trustees into 2024, with a view on maintaining the positive benefits of a volunteer only environment versus merits of paid support, and the financial and charitable implications to both of these models.
Support on charitable tasks are managed by the Director Operations (Volunteer) who maintains oversight on workload, planning and support. As a charity that is run by volunteers, without any paid employees currently, we rely heavily on the good nature of our charitable supporters.
The trustees and senior leadership would like to thank once again the volunteers, sponsors and helpers who support Future Terrain's endeavours to aid our armed forces' beneficiaries.
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FUTURE TERRAIN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
OBJECTIVES AND ACTIVITIES
In late September 2022 Future Terrain delivered expedition Fennec Endeavour II, aimed at taking 15+ Wounded, Injured and Sick (WIS) veterans on a cross country expedition through Europe and over the Pyrenees. Funds were raised via commercial sponsorship, wider charitable grants and product support. This enabled a range of WIS beneficiaries to experience benefits to both wellbeing and enhance CVs via the delivery of a major overland expedition.
The main aim of the expedition was one of increased inclusivity and mobility; for 2023 Future Terrain took a different approach to fleet and were able to partner/source vehicles that were more inclusive of a wider range of injuries. This change of approach allowed, for example, a mix of amputee injuries to be accommodated in the same vehicle; primarily due to a new hand-control system implemented across FT.
To this end the charity was able to facilitate WIS inclusion and mobility solutions that accommodated a range of injuries. From low level disabilities, with limited life impact, to complex mental health issues and a double amputee; now all able to drive. This achievement in the reporting period allowed for the greatest inclusivity profile of all expeditions/competitions to date. The success of Fennec Endeavour II was noted by trustees and is one that the charity will continue to replicate on an inclusivity to cost ratio. This new approach seen in 2022 and continued in 2023 has allowed even greater and more efficient use of limited funds; spreading wider the limited resources available to the charity but with a greater footprint for beneficiary support.
ACHIEVEMENT AND PERFORMANCE
Summary of the main achievements of the charity, identifying the difference the charity's work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.
FINANCIAL REVIEW
Reserves policy
The trustees endeavour to maintain sufficient reserves in order to ensure that funds remain available to enable Future Terrain to continue to operate in the furtherance of the objectives of the charity. For 2023 into 2024 reserves have been maintained and increased from prior years due to the new delivery model in part and the disposal of some non-core fleet (economic drag as little used in 22/23).
Reserve's policy - the charity has a modest but increased for 2023 quantum (and policy) on reserves, but cash flow and cash-at-bank are aligned between the charity Ops Director and Finance team to ensure cash does not decrease below creditor liabilities. Frequent meetings are conducted between the Operational leads, Director Operations, and a trustee to ensure budget and spend are aligned to annual spend. This approach is especially critical as a delivery focussed charity where annual spend and monthly activities must stay within overall parameters to ensure smooth delivery across the year.
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Minimum reserves held for the year were c.>5% of annual revenue for the period.
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The Trustees note no significant concern on financial viability for the charity due to its limited fixed costs and volunteer workforce/staffing. As per disclosures in 2022 if there are any changes in income during the period, or going forwards, outputs and beneficiaries' support spend can be adjusted to align current sources and uses.
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The charity's main source of funds in 2023 remained sponsorship of items, goods, and services to deliver the charities aims. Cash requirements were funded through partnership activities with minimal public donations and grants from other wider forces' charities, typically sponsoring their individual beneficiaries who came on a Future Terrain expedition, training event or competition.
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A principal risk facing the charity would be key man risk for core volunteers who help run the charity on a day-to-day basis. The Trustees mitigate this risk through the distribution of tasks and requests (via the Operations Director) to ensure no undue burden or reliance on any one individual.
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FUTURE TERRAIN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
FUTURE PLANS
The charity intends to continue reaching out to the veteran and serving armed forces' community in 2024 to support career transition, wellbeing, and recovery objectives through the medium of vehicular and engineering related endeavours.
Future Terrain specialises in the needs of those who are Wounded, Injured and Sick service personnel who have, overall, gone through medical rehabilitation and are now looking to enhance their life skills and career prospects. Future Terrain will be again partnering in 2024 with other charities to support and deliver several core expeditions and competitions to be confirmed. Future Terrain will likely be looking at closer allegiances with a limited number of like-minded feeder charities who can help provide funding support and appropriate WIS beneficiaries who would benefit from FTs services. Future Terrain In 2023 conducted a rationalisation of its fleet, removing some aged fleet that weren't being used and had limitations on inclusivity (e.g. manual gearboxes). FT will likely look to adapt and change aspects of its training and competition fleet to replicate the success seen on Fennec Endeavour II. This will manifest by either hiring or buying fleet inline with the new higher inclusivity/ interoperability of fleet profile used in 2023.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a Charitable Incorporated Organisation, registered on the 4th November 2016, and controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Trustees can be elected by a quorum of the sitting trustees in post. Any one trustee or management team can table a trustee meeting to include a vote for the appointment of additional trustees.
All trustees on induction are directed towards the Charity Commissions guidance on trustee governance and responsibilities. Any new trustee will undergo at least a half days training and introduction on the history, operations, and objectives prior to taking up post.
Key management remuneration
As per 2022's disclosure, in 2023 the charity employed no part time or full-time employees. Any volunteer costs incurred whilst conducting the business of the charity were settled via the charity on receipt of suitable evidence and ratified by the Director of Operations and/or the treasurer.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1170035
Principal address
c/o Spearfish Security Ltd 8 Southgate Street Winchester SO23 9EF
Trustees
Mr C Sincock Trustee Mr P Gillespie Trustee Mr A Weaver Trustee Mr D Hooton Chairman
Independent Examiner
Kayvan Khoroosi Peter Jarman LLP trading as Peter Jarman & Company 1 Harbour House Harbour Way Shoreham by Sea West Sussex BN43 5HZ
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FUTURE TERRAIN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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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 keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Approved by order of the board of trustees on 26 February 2024 and signed on its behalf by:
Mr C Sincock - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FUTURE TERRAIN
Independent examiner's report to the trustees of Future Terrain
I report to the charity trustees on my examination of the accounts of Future Terrain (the Trust) for the year ended 30 April 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the 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 applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Kayvan Khoroosi
Peter Jarman LLP trading as Peter Jarman & Company 1 Harbour House Harbour Way Shoreham by Sea West Sussex BN43 5HZ
26 February 2024
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FUTURE TERRAIN
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 19 Other trading activities 2 30,000 Total 30,019 EXPENDITURE ON Charitable activities Charitable Activies 20,783 Support Activities 3,147 Other 1,872 Total 25,802 NET INCOME/(EXPENDITURE) 4,217 RECONCILIATION OF FUNDS Total funds brought forward 23,923 TOTAL FUNDS CARRIED FORWARD 28,140 |
2022 Total funds £ 2,010 72,019 74,029 93,607 3,852 18,495 115,954 (41,925) 65,848 23,923 |
|---|---|
The notes form part of these financial statements
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FUTURE TERRAIN
BALANCE SHEET
30 APRIL 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 3,222 CURRENT ASSETS Cash at bank 26,832 CREDITORS Amounts falling due within one year 6 (1,914) NET CURRENT ASSETS 24,918 TOTAL ASSETS LESS CURRENT LIABILITIES 28,140 NET ASSETS 28,140 FUNDS 7 Unrestricted funds 28,140 TOTAL FUNDS 28,140 |
2022 Total funds £ 5,094 20,569 (1,740) 18,829 23,923 23,923 23,923 23,923 |
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The financial statements were approved by the Board of Trustees and authorised for issue on 26 February 2024 and were signed on its behalf by:
Mr C Sincock - Trustee
The notes form part of these financial statements
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FUTURE TERRAIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Plant and machinery - 25% on reducing balance
Depreciation is provided at the following annual rates in order to write off each asset over its useful life.
Motor Vehicles - 4 Year straight line basis.
Taxation
The charity is exempt from 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.
continued...
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FUTURE TERRAIN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Charitable activities | 30,000 | 72,019 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2023 nor for the year ended 30 April 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 2,010 |
| Other trading activities | 72,019 |
| Total | 74,029 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable Activies | 93,607 |
| Support Activities | 3,852 |
| Other | 18,495 |
| Total | 115,954 |
| NET INCOME/(EXPENDITURE) | (41,925) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 65,848 |
| TOTAL FUNDS CARRIED FORWARD | 23,923 |
continued...
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FUTURE TERRAIN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023
| 5. TANGIBLE FIXED ASSETS Plant and machinery £ COST At 1 May 2022 and 30 April 2023 3,600 DEPRECIATION At 1 May 2022 900 Charge for year 675 At 30 April 2023 1,575 NET BOOK VALUE At 30 April 2023 2,025 At 30 April 2022 2,700 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.5.22 £ Unrestricted funds General fund 23,923 TOTAL FUNDS 23,923 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 30,019 TOTAL FUNDS 30,019 |
Motor vehicles Totals £ £ 152,181 155,781 149,787 150,687 1,197 1,872 150,984 152,559 1,197 3,222 2,394 5,094 2023 2022 £ £ 1,914 1,740 Net movement At in funds 30.4.23 £ £ 4,217 28,140 4,217 28,140 Resources Movement expended in funds £ £ (25,802) 4,217 (25,802) 4,217 |
|---|---|
continued...
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FUTURE TERRAIN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.5.21 £ Unrestricted funds General fund 65,848 TOTAL FUNDS 65,848 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 74,029 TOTAL FUNDS 74,029 |
Net movement At in funds 30.4.22 £ £ (41,925) 23,923 (41,925) 23,923 Resources Movement expended in funds £ £ (115,954) (41,925) (115,954) (41,925) |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds | At 1.5.21 £ |
Net movement At in funds 30.4.23 £ £ |
|---|---|---|
| General fund | 65,848 | (37,708) 28,140 |
| TOTAL FUNDS | 65,848 | (37,708) 28,140 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 104,048 (141,756) |
(37,708) |
| TOTAL FUNDS | 104,048 (141,756) |
(37,708) |
continued...
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FUTURE TERRAIN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2023
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2023.
9. BASIS OF PREPARATION OF FINANCIAL STATEMENTS
No guarantees were given by the CIO, where any potential liability under the guarantee is outstanding at the date of the statement of assets and liabilities.
No debt is outstanding at the date of the statement of assets and liabilities which is owed by the CIO and which is secured by an express charge on any of the assets of the CIO.
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FUTURE TERRAIN
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Charitable activities Total incoming resources EXPENDITURE Charitable activities Event Fees Motor Expenses Motor Insurance Motor repairs and renewals Travel Insurance Travel and subsistence Uniform and Health & Safety Computer expenses Sundry Subscriptions Grants to individuals Other Plant and machinery Motor vehicles Support costs Finance Bank charges Accountancy Office Expenditure Total resources expended Net income/(expenditure) |
2023 £ 19 30,000 30,019 6,148 1,591 3,223 2,194 - 3,737 2,058 230 47 55 1,500 20,783 675 1,197 1,872 - 1,914 1,233 3,147 25,802 4,217 |
2022 £ 2,010 72,019 74,029 67,055 862 2,302 4,278 5,478 10,798 3,579 - 1,835 - - 96,187 900 17,595 18,495 73 (840) 2,039 1,272 115,954 (41,925) |
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This page does not form part of the statutory financial statements
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