|RepOrt ofthe|Trustee||t|to|4|
|---|---|---|---|---|---|
|IrXlependent|Examiner'S
Repart|||||
|Statement
Of|Financial|ftcdvldes||||
|Balance Sheet||||||
|Notes to the Financial||Statements|8|to|t5|
|Detailed Statement
of||Financial itcttvides||16||
##
##
##
##
##
##
##
##
|for the year ended 3|1December|2021||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||Unrestricted|Restncted|Total|Total|
|||||Funds|Funds|Funds|funds|
||||Notes|I|||I|
|INCOME AND ENDOWlilENTS||FROM||||||
|Donahons
and legades|||2|102,622|109,305|211,927|151,502|
|investment
inrnme|||3|11,016|9,7I52|20,778|20,475|
|Total||||113,638|119,067|232,705|171,977|
|EXPENDITURE ON||||||||
|Raising funds||||145,101||145,101.|123,012|
|Charitable
activiSes||||||||
|Charitable
activities||||5,847|146,752|152,599|1,714|
|Total||||150,948|146,752|297,700|124,726|
|Net gains on investments||||30,450|27,01.7|57,467|27,427|
|NET INCOME/(EXPENDITURE)||||(6,860)|(668)|(7,528)|74,678|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought|forvrard|||317,741|381,164|698,905|624,227|
|TOTAL FUNDS CARRIED FORWARD||||310,881|380,496|691,377|698,905|
|31D)a|arne» 2221||||||
|---|---|---|---|---|---|---|
||||||23QI||
||||||lard|fdaI|
||||||hnda|h»Ct|
||||||1|1|
|Ctld909)TASSd)d|||||||
|Cath at|la)ra era 4 h4ne|td
tl||12209
155.031|I))4031|ap»9
129Pied|
||||4 )05|t)2.019|t)2545|I3),)de|
|nraatrrd|ralale dre» erl Ov ra»|12|(4)JIIDI|'Slee.r 03|11412)203|(3)a)Ddt|
||||S30,)033|||Idl.119|
||||3)d,de)||09))22||
||||31D,dll||091@fr|99)1909|
||||||3)dddl||
||||||1ltdrned|301.104|
||||||C91372|69)t.d)9|
##
##
##
##
##
##
##
##
##
##
##
|2,|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES||||
|---|---|---|---|---|---|
||Donaaons
received campnse:|||||
|||||2021|2020|
|||||I|I|
||Funding
received
from other chantable||trusts and public entities:|||
||Nufneld
Trust for Farces|of the Crawn||27,171|77,714|
||BAE Systems|||40,000||
||Army Spans Conbal Board Chanty|||30,000|30,000|
||Drapers'
Charitable
Fund|||25,000||
||NacRabe it Fund|||15,000||
||Cadogan Chanties|||10,0ljg||
||Veterans
Faun
d at
km|||10,000||
||RAF Charitable
Trust|||7,635|2,950|
||Reserve Farces and Cadets Assaciations|||3,000|7,000|
||The Lord Farnngdon
Trust|||S,OIXI|5,000|
||Gareth iveame
Foundation|||5,0IXI||
||Westminster
Foundation|||5,000||
||Avlatlan
Facus|||4,500||
||Armourers
and Braziers Conipariy|||2,00lj||
||Fishmongers
Company|||2,000||
||Dyers Company|||1,000||
||pnnce ofWales Charitable|Funds||1,000||
||Samarez Invesbnents/Nr|James Knob|Trust||7,000|
||Clive and Sylvia
Richards|Charity|||5,000|
||Other amounts
received:|||||
||Total donatians
received|from private benefactors||17,012|13,538|
||Gift aid|||1,609|1,300|
|||||211,927|151,502|
|3.|INVESTMENT INCOME|||||
|||||2021|2020|
||Bank deposit interest
- General Fund (allocated)|||12||
||Dividends
- BLKArmed Forces Chanties||Growth 8 Income Units|20,766|20,309|
|||||20,778|20,475|
|4,|RAISING FUNDS|||||
||Raising do nag one and|legacies||||
|||||2021|2020|
||Staff costs|||22,063|41,986|
||Other fundraising
cosh|||2,857|3,267|
||Consultancy|||120,181|77,759|
|||||1.45, 1.01|123,012|
##
|C14ARITABLE ACTIVITIES COSTS|C14ARITABLE ACTIVITIES COSTS|C14ARITABLE ACTIVITIES COSTS|C14ARITABLE ACTIVITIES COSTS|||||||
|---|---|---|---|---|---|---|---|---|---|
|Chantable
acbvrties casts composer||||||||||
|||||||||2021|2020|
|Restinxed
expenceturel||||||||||
|Granh
paid and payable (net of|||repayments):|||||||
|Res envsts.||||||||||
|University
Units (OTCs, I/RNVs,
Qparaoonel
unit (Reservlsts)|||VA gouadrans)|||||13,212
87+72|4,290
26,430|
|Cadets.||||||||||
|Combined
Cadet Force|(Navy)|||||||7,145|1,600|
|Comb'ned
Cadet Force
Comtaned
Cadet Force|(Army)
(Av)|||||||21,007
1,655|4,150
750|
|Army Cadet Farce||||||||23,200||
|Air Trainirig
Carpe||||||||19,530|2,200|
|Torsi grants||||||||173,021|39,420|
|Less: refunds
received|in raspast||Of prier year||grants.|||||
|Ress rv is ts||||||||(15,073)|(22,676)|
|Cadets||||||||(11,196)|(22,400)|
|Tatal reslncted
- net outlay/(gain)|||On grant|rnafung||||146,752|(5.656)|
|Unrastncbm e pendlture:||||||||||
|Admirustratlve
expendaure.||||||||||
|Cost of meso ngs
ONce mats||||||||627
1,200|1,176
1.065|
|IT and sundry expenses||||||||363|2.105|
|Governance.||||||||||
|Trustees' expenses||||||||385|24|
|Independent
examiner's|fees|||||||3,272|3.000|
|Total unrestncted||||||||5,847||
|Total chantable
expenditure||||||||152,599|1,714|
|Tre net tatal af granta
Grants made|rrede above ncludev;|||||||173.021|120,631|
|Grants underspanr/expeditianS||carlaeded/granta|||returned,|induding|pnar years|(26,269)|(126,287)|
|Net (gain)/outlay
on grant making||||||||146,752|(5,656)|
##
##
##
|for t|he yxmr ended 31Dece|mbe|r 202|1||||||
|---|---|---|---|---|---|---|---|---|---|
|7,|STAFF COSTS|||||||||
|||||||||2021|2020|
|||||||||f||
||Wages and salanes|||||||21,420|38,035|
||Sou el security
costs||||||||2,576|
||Other pension costs||||||||1,375|
|||||||||22,063|41,986|
||The average
monthly|number||of|employees||dunng the year was as follows:|||
|||||||||2021|2020|
||Fund raising|||||||1|1|
||No employees
receivetl||emoluments|||in excess of 660,000.||||
||The average number|of|Full Time||Equivalent||staff was 1(2020: L2).|||
||COMPARATIVES FOR||THE STATEMENT||||OF FINANCIAL ACTIVITIES|||
||||||||Unrestricted|Re sbicted|Total|
||||||||Funds
F.|fundsI|Funds
E|
||INCOME AND ENDOWMENTS||||FROM|||||
||Donations
and legacies||||||40,838|110,664|151,502|
||investment
income||||||10,895|9,S80|20,475|
||Total||||||51,733|120,244|171,977|
||EXPENDITURE ON|||||||||
||Ramng
funds||||||123,012||123,012|
||Charitable
activk isa|||||||||
||Charitable
activi tres||||||7,370|(5,656)|1,714|
||Total||||||130,382|(5,656)|124,726|
||Net gains on investments||||||14,S33|12,894|27,427|
||NET INCOMEri(EXPENDITURE)||||||(64,1(6)|138,794|74,678|
||Transfers
bubnnmn|funds|||||25,585|(25,585)||
||Nut movement
in funds||||||(38,531)|113,209|74,678|
||RECONCILIATION|OF|FUNDS|||||||
||Total funds brought f||inward||||356,272|267,955|624,227|
||TOTAL FUNDS CARRIED FORWARD||||||317,741|381,164|698,905|
##
|||||||||||||Listed|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||investments|
|||||||||||||6|
||atARKET v4LUE||||||||||||
||At 1 Zanuary|2021||||||||||597,386|
||Revaluations|||||||||||57,466|
||At 31December||2021|||||||||654,852|
||NET BOOK|V4LUE|||||||||||
||At 31December||2021|||||||||654,852|
||At 31December||2020|||||||||597,386|
||There were no investment||||||assets Outside the|UK.|||||
||Cost or valuation|||at 31||December 2021 is represented||||by:|||
|||||||||||||Listed|
|||||||||||||inveat
ments|
|||||||||||||E|
||Valuauon
in 2021|||||||||||654,852|
||Investments|at the end||||of the year are attributable|||as|follows:|||
||||||||||||2021|2I020|
||||||||||||E|E|
||Future Development||||Fund||(Designated)||||346,986|316,537|
||Army Cadet Long-Term|||||Fund (Restricted)|||||307,866|Z80,849|
||Total||||||||||654,852|597,386|
|1g,|DEBTORS:AMOUNTS|||||FALLTNG DUE WXT14TN|||ONE YE4R||||
||||||||||||2021|202ij|
||||||||||||E|E|
||Other debtors||||||||||16,690|2,975|
||Prepayments|and||accrued|||in~orna||||5,224|5,094|
||||||||||||21,914|8,069|
||l3ebtors at the end|||of the year are attributable||||as follows:|||||
||||||||||||2021|2020|
||||||||||||E|E|
||Unrestricted:||||||||||4,706|2,724|
||Restncted:||||||||||||
||Cadets||||||||||16,403|5,345|
||Ress rvi st s||||||||||2,460||
||Total||||||||||23,569|8,069|
##
||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||E|E|
||Restricted:||||||||||
||Cadets||||||||98,911|34,000|
||Nufffetd|Trust|||||||56,720|95,640|
||Total||||||||155,631|129,640|
|12.|CREDITORS'.AMOUNTS|||||FALLHtO DUE T8ITHIN ONE YEAR|||||
||||||||||2021|2020|
||||||||||E||
||Odier creditors||||||||141,D20|36,190|
||Creditors at the end|||of|the year are allributable||as follower||||
||||||||||202i.|2020|
||Unrestricted||||||||40,810|1,520|
||Restricted:||||||||||
||Cadets||||||||52,460||
||Nuffield|Trust|||||||47,750|25,970|
||||||||||100,21D|34,670|
||Total||||||||141,020|36,190|
|13.|atotiEMENT IN FUNDs||||||||||
|||||||||Net|Transfers||
|||||||||movement|bet.ween|At|
||||||||At 1.1.21|in funds|funds|31.12.21|
||||||||E||E||
||Unrestrfcted||funda||||||||
||General|Reserve Fund|||||1,204|(48,312)|11,003|(36,105)|
||I'u tore Development|||Fund|||316,537|41,452|(11,003)|346,986|
||||||||317,741|(62I60)||310,881|
||Restrtct|ed funds|||||||||
||Army Cadet Long-Term||||Fund||280,849|27,017||307,866|
||Cadet Reaerve||Fund||||30,644|30,556||61,2DD|
||Nufdefd|Tmst for Armed|||Forces ofthe||||||
||Crown||||||6cl,671|(58,241)||11,43D|
||||||||381,164|(668)||380,496|
||TOTAL|FUNDS|||||698,905|(7,528)||691,377|
##
|sIOVBSEM' IN FtlND|sIOVBSEM' IN FtlND|s
~cont|in|ued||||
|---|---|---|---|---|---|---|---|
|Net movement
in fvnds,||indvded||in the above are as follows:||||
|||||Incoming|Resovress|Gains and|)lavement|
|||||re sov ress|expended|losses|in funds|
||||||I|E|I|
|Unrestricted
funds||||||||
|General
Reserve Fund
Fumre
Development
Fvnd||||102,636
11,0D2|(150,948)|30,'!50|(48,31.2)
41,452|
|Itestricted funds||||113,638|(150,948)|30,45D|(6,860)|
|Army Cadet Long-Term||Fund||9,763|(9,763)|27,017|27,017|
|Cadet Reserve Fund||||7D,000|(39,444)||30,556|
|Nuffiekl
Trust for Armed||Farces|of the|||||
|Crown||||27,169|(85,410)||(58,241)|
|Arr Cadet Fund||||12,135|(12,135)|||
|||||119,067|(146,752)|27,017|(668)|
|TOTAL FUNDS||||232,705|(297,700)|57,467|(7,528)|
|Comparatives
for movement|||ln funds|||||
||||||Net|Transfers||
||||||movement|bebveen|Al.|
|||||At 1.1.20|in funds|lunds|31.12.20|
|||||E|E|E||
|Unrestricted
funds||||||||
|General
Reserve Fund||||54,268|(89,459)|36,395|1,204|
|Future Development|Fund|||3D2,004|25,343|(10,810)|316,537|
|||||356,272|(64,116)|25,585|317,741|
|Restricted
funds||||||||
|Army Cadet Lang-Tenn||Fund||267,955|18,323|(5,429)|280.849|
|Cadet Reserve Fund|||||50,801|(20,156)|30,645|
|Nuffiekl Trust far Armed||Forcea Ol||the||||
|Crown|||||69,670||69,670|
|||||267,955|138,794|(25,585)|381,164|
|TOTAL FUltDS||||624,227|74,678||698,905|
##
|MOIF8S4ENT EN FUNDS -|MOIF8S4ENT EN FUNDS -|MOIF8S4ENT EN FUNDS -|condoned|||||
|---|---|---|---|---|---|---|---|
|Comparative
net movement|||in funds, induded|in the above are as follows:||||
|||||Incoming|Resources|Gains and|Movement|
|||||resources|expended|losses|in Funds|
|||||E||E|E|
|Unrestricted
funds||||||||
|General Resene Fund||||40,923|(130,382)||(89,459)|
|Future
Development|Fund|||10,810||14,533|25,343|
|||||51,733|(130,382)|14,533|(64,116)|
|Restricted
furids||||||||
|Army Cadet Long-Term||Fund||9,579|(4,150)|12,894|18,323|
|Cadet Reserve Fund||||30,001|20,800||50,801|
|Ifaft)eld Trust for Armed||Farces afthe||||||
|Crown||||77,714|(8,044)||69,670|
|Air Cadet Fund||||2,950|(2,950)|||
|||||120,244|5,656|12,894|138,794|
|TOTAL FUNDS||||171,977|(124,726)|27,427|74,678|
##
##
##
|for the year ended 31|Decem|ber 2021||||
|---|---|---|---|---|---|
|||||2021I|2020|
|INCOME AND ENDOlrtiMENTS||||||
|Donatlous
and legacies||||||
|Donations||||210,318|150,202|
|Gig aid|||||1,300|
|||||211,927|151,502|
|Invas tnt ant fn carne||||||
|Bank depout
iriterest
- General Fund (allocated)||||12|86|
|Dividenda
- BLK Armed|Fnroea Charinea||GrOwth 8|||
|income Units||||20,766|20,389|
|||||20,778|20,475|
|Total incoming resources||||232,705|171,977|
|Raising donatlone
and legacies||||||
|Wages||||21,420|38,035|
|Social security|||||2,576|
|Pensions||||643|1,375|
|Other fundraising
costs||||2,857|3,267|
|Consultancy||||120,181|77,759|
|||||145,101|123,012|
|Cbarltable
activities||||||
|Costs ol' meetings||||628|1,176|
|Office costs||||1,200|1,065|
|IT and sundry
expenses||||363|2,105|
|Grants made||||173,021|120,631|
|Grants underspent/expedoons||cancelled||(26,270)|(126,287)|
|||||148,942|(1,310)|
|Governance costs||||||
|Tmsrees'
ex pe nasa||||385|24|
|Accauntanoy
and legal|fees|||3,272|3,000|
|||||3,657|3,024|
|TOtal reanurCeS expended||||297,700|124,726|
|Net (expenditure)/income||before gains and||||
|losses||||(64,995)|47,25I|
|Realised recognised
gains and fosses||||||
|Unreallsed
gains/(lasses)|on fixed asset|||||
|invesunents||||57,467|27,427|
|Net (expenditure)/income||||(7,528)|74,678|