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2022-03-31-accounts

Company number: 10445616 Charity Number: 1170994 Scottish Charity Number: SC048021

Report and financial statements For the year ended 31 March 2022

Combined Cadet Force Association

Contents

For the year ended 31 March 2022

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Independent auditor’s report ....................................................................................................... 15 Statement of financial activities (incorporating an income and expenditure account) ................... 20 Balance sheet ............................................................................................................................... 21 Statement of cash flows ................................................................................................................ 22 Notes to the financial statements ................................................................................................. 23

Combined Cadet Force Association

Reference and administrative information

For the year ended 31 March 2022

Company number 10445616 Country of incorporation United Kingdom Charity number 1170994 SC048021 Country of registration England & Wales Scotland Registered office Holderness House and operational address 51-61 Clifton Street London EC2A 4DW Trustees Trustees, who are also directors under company law, who served during the period and up to the date of this report were as follows:

Vice Admiral PD Hudson CB CBE President Air Vice-Marshal NDA Maddox CBE Chair Mr M Hampshire * ^ Vice Chair Ms JYW Hodgson * Treasurer Mr SDA Benest (appointed 25 Jan 2022) Mr MS Blackford ^ Mr JJ Bleakley Mrs SE Bonell OBE ^ (appointed 8 Sep 2022) Mrs FL Chapman Mr SA Davies Mr RK Gordon (resigned 11 Feb 2022) Mr MZ Hamid Mr A Hudson Mrs AC Martin *^ Mr SJ McMenemy * Mr DW Montgomery ^ Mrs GS Poulet-Bowden Mr MP Ripley ^ Mr C Thompson Mr NJ Woodall

Col A Lamb MBE CCF Mr D Haigh

(co-opted member) (co-opted member)

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Combined Cadet Force Association

Reference and administrative information

For the year ended 31 March 2022

Key management Colonel MNS Urquhart OBE Chief Executive personnel Richard Walton Deputy Chief Executive Faye Meakin Director of Development Bankers Lloyds Bank plc Butler Place London SW1H 0PR Investment Waverton Investment Management managers 16 Babmaes Street London SW1Y 6AH Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House 108-114 Golden Lane London EC1Y 0TL

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

The trustees present their report and the audited financial statements for the year ended 31 March 2022.

Reference and administrative information set out on page 1 and 2 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The Combined Cadet Force Association has three charitable objects:

The charity’s first purpose is therefore to enable access to activities that will educate, develop and broaden the interests of the 50 760 young people who are cadets in the Combined Cadet Force (CCF). These young people are involved in one of 470 school-based CCF Contingents across the whole of the UK. The Association looks to enhance their development both through the delivery of support to contingents and by the making of grants to support individual cadets; to help new contingents to become established in state schools; or, to help existing contingents to improve their resilience and so ensure they are able to deliver development opportunities to young people for many years to come.

In support of the charity’s second object the Association offers grants to enable cadets to take part in a wide range of activities. The charity supplies information regarding the setting up of a CCF Contingent to schools which have no contingents and to other interested organisations or persons. Finally, the charity carries out functions in the interests of the CCF as a whole such as the provision of insurance cover against accidents, travel difficulties and legal help.

To further the charity’s third object the charity helps administer the national CCF First Aid competition and contributes to the delivery of courses for CCF adult volunteers. The charity also co-ordinates opportunities for cadets to take part in major national activities, such as the annual

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

remembrance weekend activities. Both the trustees and the staff of the charities invest time in promoting the ethos and activities of the CCF to wide audiences including school leadership and local communities as well as supporting CCF adult volunteers with access to information and introductions to useful organisations and individuals.

Although the charity has no executive role in the running of the CCF, which is the responsibility of the MOD and single services in partnership with schools, it is part of the national framework steering the CCF and its activities. The Chair and Chief Executive attend high level MOD steering group meetings. Also, through its open board meetings, the charity provides another forum for the MOD, single services and schools to exchange views.

The trustees review the aims, objectives and activities of the charity each year in the light of these charitable objects. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focussed on its stated purposes.

The enduring priority for the Association’s trustees is to ensure that young people are able to develop through membership of the CCF. This means a focus on some key areas:

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Grant Programmes

The Association primarily furthers its objects through the awarding of grants to individual cadets, or to CCF contingents. It runs two grant programmes: the Small Grants Programme and the Contingent Growth Fund. Two closed grant programmes: the Cadet Bursary Fund, and the CCF Sustainability Fund are no longer making new grants but continue to make grant payments agreed in the past. The remaining restricted funds which were given to CCFA for use in the Cadet Bursary Fund were released (with the kind permission of the MoD) to further other activities of the Association. The Association makes grants on the following basis:

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

support of activities which would not ordinarily be funded by the Chain of Command, both at regional and national level. Applications for both are made on forms which are circulated to all CCF Contingents and the applications are considered by a committee of CCFA trustees. Grants are awarded with a requirement to report on the use of the grant within an agreed period of time.

Achievements and performance

The charity's main activities and who it tries to help are described below. All its charitable activities focus on the cadets, volunteers and contingents of the CCF and are undertaken to further the Combined Cadet Force Association’s charitable purposes for the public benefit.

The performance of the Association’s grant programmes in the year was:

Beneficiaries of our services

The main way in which the Association delivers benefit to its beneficiaries is through the provision of grants. As explained earlier in the report grants are made either to support the contingent and its ability to deliver the cadet programme, or to individual cadets to enable them to access the full range of opportunities in their contingent.

In order to measure the difference that these grants have made the trustees ask for reports from grant recipients. These detail the impact of the grant and are used to help the trustees to decide both what funding to bid for and how best to structure the Association’s grant programmes in the future.

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

Some examples of the impact on the beneficiaries detailed in the last section of this report include:

Through the Small Grants Fund Cadet Wilson from Campbell College CCF received funding for tenor drumsticks and music tuition to support her role in the College Pipe Band. She described the impact of the grant, saying “The grant has been very beneficial as I have greatly improved my tenor drumming as demonstrated through winning the UK-wide Open (Senior) Tenor event in the Piping and Drumming competition held for cadets. I also had the very enjoyable experience and great privilege of participating in the Massed Pipes and Drums event at Carrickfergus Castle to celebrate Northern Ireland’s centenary year.

Lisnargarvey High School CCF received a Group Activity Grant for an adventure training day during their CCF summer camp 2021. The grant made the activity day inclusive and affordable for a contingent with a third of cadets on free school meals, enabling them to offer everyone the chance to develop team building, new skills and self-confidence on a level playing field. The Contingent Commander, Dee Orwin, reflected that “The impact was clear to see, there was a number of very hesitant cadets, but encouraged by their peers and staff leadership, cadets extended themselves and took on the challenges with some fear, panic and trepidation, but the outcome was clear to see, happy, buzzing, and a lot of back slapping.”

Using a Group Activity Grant, Royal Grammar School Newcastle were able to increase the affordability of their Easter adventure training camp. Following the difficulties of the previous year, with the cessation of CCF activities due to Covid, this was the first CCF activity outside of school for most cadets. They shared that “the opportunity for the cadets from all three sections in the Contingent to get outdoors, challenge themselves and have fun with friends was especially important after the restrictions of COVID lockdown.” They reported the impact of these activities on their cadets, “it was fantastic to see the cadets rediscover the joy of being part of a team and also relearn some of the skills that are essential to achieving this successfully. For the older cadets the chance to begin developing their leadership skills was invaluable, especially as they have generally missed out on seeing it modelled for them by their older peers” Sqn Ldr Caroline HuttonStott, Contingent Commander.

Financial review

The statement of financial activities for the period is set out on page 20 of the financial statements. A summary of the financial results and the work by the Association is set out below.

Income for the year ended 31 March 22 included donations and legacies of £2,110,927 (eight months to 2021 – £187,913), income for supporting cadets and volunteers of £21,912 (eight months to 2021- £31,043) and investment income and interest of £13,295 (eight months to 2021- £13,839). Total gross income amounted to £2,155,526 (eight months to 2021- £232,795).

Expenditure for the period comprised costs of raising funds of £600 (eight months to 2021£300), costs of activities in support of contingents of £523,716 (eight months to 2021–

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

£1,640,540) which reflects the planned expenditure against grant programmes and costs of supporting cadets and volunteers of £9,039 (eight months to 2021– £16,826). Total expenditure amounted to £533,355 (eight months to 2021- £1,657,666).

Net income for the year before investment gains/(losses) amounted to £1,622,171 (eight months to 2021– net expenditure of £1,424,871).

The trustees expect the charity to exist in perpetuity and its investment policy is designed to support the long-term financial health of the charity. The Association adopted the current investment policy in October 2020; its stated objectives are to:

The Association has adopted a total return approach to investment, generating the investment return from income and capital gains or losses. It is expected that if in any one year the total return is insufficient to meet the growth target, in the long term the real value of the investments will still grow in accordance with the investment objectives above.

The Association has decided not to invest in assets that the trustees consider to be contrary to the spirit of its objects. In particular tobacco, alcohol and pornography are to be excluded from our investments. The trustees have agreed a process with our investment managers as to how these restrictions are to be applied.

During the year net gains on the fair value of investments amounted to £45,442 (eight months to 2021– net gains of £45,532). The investment objective is to generate a return of CPI plus 3% per annum over the medium term (six years). The six-year average (CPI + 3%) to the end of Mar 22 has been calculated as 5.65%. This compares to a five reporting-period average return of 6.17% in the portfolio since the move of investment managers. The trustees recognise that a five reportingperiod average is a shorter period than the six-year average that is the benchmark and are satisfied with the investment performance in the year.

In order to support the efficient delivery of our grant programmes and to efficiently manage cash flow, the trustees have directed that funds earmarked for grant making are to be held in cash deposit accounts of no more than 24 months in duration. At the end of 2022 the funds held on short term deposit were £951k (2021: £600k).

Principal risks and uncertainties

The trustees examine the major risks that the Association faces each financial year during routine board meetings and in meetings between the senior trustees and the Chief Executive. The charity has systems in place to monitor and control these risks to mitigate any impact that they may have on the Association's activities in the future.

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

The key risks for the charity, as identified by the trustees, are described below together with the principal way in which they are mitigated:

Reserves policy and going concern

The CCFA adopted the current Reserves Policy in December 2019. The purpose of the policy is to ensure the ongoing operations of the charity are protected in the event of a sudden decline in the financial health of the charity. The reserve is intended to provide an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, unanticipated loss in funding, or uninsured losses. The reserve may also be used for one-time, non-recurring expenses that will build long-term capacity, such as staff development or investment in infrastructure.

The reserve is defined as unrestricted funding that has not been designated for a specific purpose. The reserve will be an amount sufficient to maintain ongoing operations and programs for three to six months. The reserve will be reviewed and adjusted in response to internal and external changes. The target minimum reserve fund is equal to 3 months of operating costs and is calculated at the start of the year based on the budget. This year the minimum level of reserves was calculated as £111,247 (2021 - £425,403) which reflected the planned reduction in expenditure for the year.

From time to time the trustees might choose to designate funds for long term investment in order to realise an income that can be used to further the charity’s objects. These funds will not be counted as part of the charity’s free reserves.

Actual free reserves in 2022 were £1,361,375 (2021: £491,283).

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

This means that free reserves are approximately £936k, or 69% in excess of the minimum level of reserves (2021 - £66k or 13% in excess). The trustees recognise that, owing to a year with lower planned expenditure, the reserves look very healthy and are content that reserves are within the target level.

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Fundraising

The charity is not a member of the Fundraising Regulator because it does not engage in the kind of fundraising activity that would make this a requirement. We intend to review this position in the coming year. The charity’s approach to fundraising activity is to seek grants from organisations in order to achieve a particular aim, for example to support the growth of cadet numbers in existing CCF contingents. Where an individual or group with an interest in the cadet movement would like to support cadets, we invite them to donate to the CCFA. We do not use a professional fundraiser or a commercial participator.

We offer the facility for individuals to make one off or repeat donations online and offer membership of the CCFA to repeat individual donors or CCF Contingents. We have received no complaints about fundraising.

We do not contact our members or supporters to solicit donations, although this is something we might consider doing should we have a specific fundraising objective in the future.

Plans for the future

Whilst the charity itself is financially secure, the trustees remain concerned about the viability of many of the CCF contingents (the charity’s beneficiaries) newly formed under the Cadet Expansion Programme, the concern being that they do not have the full suite of volunteer staff and facilities needed to run a thriving contingent. Additional financial support could make the difference, therefore the ambition of the trustees is to maintain existing grant programmes to support these new contingents. Efforts will be made to find new donors to top up the Contingent Growth Fund.

The charity’s Small Grants Programme remains sound and secure, for which the trustees are enormously grateful to Mr Gareth Neame OBE for his continuing close interest and generous donations.

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

As stated in the section on Principal Risks and Uncertainties, effort will continue in the year 2022/2023 to communicate with all CCF contingents to make them aware that the CCFA is their charity and that they are its beneficiaries, and to make them further aware of the grants programmes and other benefits that CCFA can provide to support them.

In respect of Governance, the trustees are mid-way through a programme of reviewing the charity’s purpose and structures. The existing objects and articles are being reviewed to confirm that they are right, relevant and can be delivered (overall it is felt they are right, but they may need slight adjustment). The number of trustees remains large compared to the Charity Commission’s best practice guidance and it is expected that the board will reduce in size gradually.

The CCFA has approached the Charity Commission for Northern Ireland and attempted to register with them as the charity operates in Northern Ireland. The commission has responded to say that they are in the process of registering charities that are not regulated by another UK charity regulator first and will contact the CCFA when they are ready to process our application.

Structure, governance and management

The Combined Cadet Force Association (CCFA) is a registered charity and a company limited by guarantee, not having a share capital. The entity was incorporated on 25 October 2016 and registered as a charity with the Charity Commission for England and Wales on 5 January 2017 and the Office of the Scottish Charity Regulator on 22 December 2017. It is governed by its memorandum and articles of association which were adopted on 4 October 2016. This arrangement replaced an earlier construct of the CCFA which was constituted by a trust deed and registered with the Charity Commission in 1963 under charity number 305988. The assets of this earlier version of the CCFA were transferred to the new construct which was duly re-registered with the Charity Commission under charity number 1170994.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 8 to the accounts.

The part time Chief Executive of the charity is Colonel (Retired) Murdo Urquhart OBE, who heads a small team of staff comprising Richard Walton, the part time Deputy Chief Executive, Faye Meakin, the part time Director of Development, and seven full-time equivalent members of staff who carry out particular functions across the UK.

The annual budget is agreed by the Finance and Compliance Committee. The senior trustees (President, Chair, Vice Chair, and Treasurer) are consulted by the Chief Executive on a regular basis and on all matters that are considered by him to be strategic, novel or contentious. These consultations are largely conducted by video conference, telephone and e-mail or at informal “management board” meetings.

There are a number of formal trustee meetings. The CCFA Board of Trustees meets twice per year. Amongst other papers the Board receives:

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

The Board has two sub committees and one joint sub-committee with its sister charity, the Army Cadet Charitable Trust UK (ACCT UK). The Finance and Compliance Committee carries out the overall financial management of the Association (including agreeing the annual budget, the raising, investment and direction of funds, and the oversight of financial processes) and the regular review of the charity’s governance arrangements. The Committee consists of the Treasurer, the Vice Chair, the Legal and Governance Adviser and the School Finance Adviser. It meets four times per year after the end of each financial quarter and reports at both board meetings.

The second sub-committee is the Grants Committee, chaired by the Vice Chair and including at least two other trustee members. This committee sets the overall policy for grants and makes decisions about which applications to fund. It considers applications approximately three times per year.

The Joint ACCT UK and CCFA HR and Remuneration Committee includes two CCFA trustees (the Treasurer and Legal Adviser). It exercises the trustees’ responsibilities for oversight of the remuneration of the CCFA’s employees. In setting the salary levels for the Association the trustees carry out a comparison with a suitable benchmark. The HR and Remunerations Committee is tasked each year to ensure that all salaries, including those of the senior officers of the charity, are commensurate with this measure. This includes a review of the salary bands.

Appointment of trustees

Trustees are appointed for a period of three years and encouraged to serve for no more than two terms to ensure regular turnover of trustees. Where a successor cannot be found a trustee could stand for re-election and there is no restriction in the articles on the number of times an individual can stand for re-election.

Trustees are considered to be one of two “types” (with identical rights and obligations). The first type is a serving CCF Contingent Commander who is elected to represent the CCF Contingents in one of 13 regions of the UK. The second type of trustee is a private individual who is recruited to bring particular skills to the board in order to improve the ability of the trustees to govern the charity.

The core of the board of trustees are the representative contingent commanders. Careful thought by the management board goes into ensuring that they represent a fair balance of: state and independent schools; and Royal Navy, Army and RAF contingents.

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

The process for identifying new trustees is twofold. In the case of representative contingent commanders, when replacements are required, volunteers are sought from within the members of the relevant region. Ideally this is done during regional conferences when it is transparent to all present. In the case of trustees with specialist knowledge and experience, any means will be used to find the right person. The process for advertising for and recruiting trustees will be considered as part of the upcoming governance review.

If a trustee is appointed during the year they are co-opted by the trustees and then formally elected at the next AGM for a period of three years.

Trustee induction and training

There are four parts to trustees’ induction. They:

Related parties and relationships with other organisations

The Association has relationships with all CCF Contingents and officers from 11 (2021: 12) contingents are trustees of the CCFA. The trustees ensure that they keep good records of who is associated with which contingent and those individuals absent themselves from any decision making that could give a real or perceived benefit to their contingent (most commonly the award of a grant). Such related party transactions are disclosed in note 10 to the accounts.

The charity shared offices and staff with a sister charity, ACCT UK (charity number: 305962). The two charities employ staff on joint contracts which are managed through ACCT UK and the staff costs relating to CCFA are recharged on a monthly basis. In addition, the Treasurer, Julia Hodgson, works for the Bank of England which has a role in prudential regulation and she therefore takes no part in discussions or decisions relating to the charity’s investment plans and portfolio.

Remuneration policy for key management personnel

The Trustees consider that they together with the Chief Executive, the Deputy Chief Executive and the Director of Development comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day to day basis.

All employees are jointly contracted by CCFA with our sister charity ACCT UK. Oversight of the staffing arrangements is exercised through the joint ACCT UK and CCFA HR and Remunerations Committee as described above.

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

Statement of responsibilities of the trustees

The trustees (who are also directors of the Combined Cadet Force Association for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP

Make judgements and estimates that are reasonable and prudent

State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements

Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

There is no relevant audit information of which the charitable company’s auditor is unaware The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2022 was 278 (2021: 347). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

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Combined Cadet Force Association

Trustees’ annual report

For the year ended 31 March 2022

Auditor

Sayer Vincent LLP was appointed as the charitable company's auditor during the year and has expressed its willingness to act in that capacity.

The trustees’ annual report has been approved by the trustees on 20 September 2022 and signed on their behalf by

Air Vice Marshal Nigel Maddox CBE

Chair

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Independent auditor’s report

To the members of

Combined Cadet Force Association

Opinion

We have audited the financial statements of Combined Cadet Force Association (the ‘charitable company’) for the period ended 31 March 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Association's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

15

Independent auditor’s report

To the members of

Combined Cadet Force Association

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

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Independent auditor’s report

To the members of

Combined Cadet Force Association

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

17

Independent auditor’s report

To the members of

Combined Cadet Force Association

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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Independent auditor’s report

To the members of

Combined Cadet Force Association

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior statutory auditor)

Date: 03 November 2022.

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

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Combined Cadet Force Association

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2022

For theyear ended 31 March 2022 For theyear ended 31 March 2022
Unrestricted
Note
£
Income from:
2
1,189,227
3
11,912
4
13,295
Other income
9,392
1,223,826
5
600
5
309,309
5
-
309,909
13
45,442
959,359
17
(1,583,246)
(623,887)
Reconciliation of funds:
2,689,067
2,065,180
Total funds carried forward
Transfers between funds
Net movement in funds
913,917
Total funds brought forward
Net gains on investments
Net income / (expenditure) for the year
Supporting cadets and volunteers
Raising funds
Total expenditure
Net income/(expenditure) before net gains on
investments
Charitable activities
Supporting contingents
Supporting cadets and volunteers
Investments
Total income
Expenditure on:
Donations and legacies
Charitable activities		 Restricted
£
921,700
10,000
-
-		 2022
Total
£
2,110,927
21,912
13,295
9,392		 Unrestricted
£
152,470
21,043
13,839
-		 Restricted
£
35,443
10,000
-
-		 8 months
ended 31
March
2021
Total
£
187,913
31,043
13,839
-
1,223,826 931,700 2,155,526 187,352 45,443 232,795
600
309,309
-		 -
214,407
9,039		 600
523,716
9,039		 300
1,520,053
15,626		 -
120,487
1,200		 300
1,640,540
16,826
309,909 223,446 533,355 1,535,979 121,687 1,657,666
45,442
913,917		 -
708,254		 45,442
1,622,171		 45,532
(1,348,627)		 -
(76,244)		 45,532
(1,424,871)
959,359
(1,583,246)		 708,254
1,583,246		 1,667,613
-		 (1,303,095)
391,815		 (76,244)
(391,815)		 (1,379,339)
-
(623,887)
2,689,067		 2,291,500
157,643		 1,667,613
2,846,710		 (911,280)
3,600,347		 (468,059)
625,702		 (1,379,339)
4,226,049
2,065,180 2,449,143 4,514,323 2,689,067 157,643 2,846,710

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17 to the financial statements.

20

Combined Cadet Force Association

Company no. 10445616

Balance sheet

As at 31 March 2022

31 March 31 March
2022 2021
Note £ £ £ £
Fixed assets:
Investments 13 703,805 646,270
703,805 646,270
Current assets:
Debtors 14 3,013 2,536
Short term deposits 950,529 600,164
Cash at bank and in hand 2,936,022 1,678,092
3,889,564 2,280,792
Liabilities:
Creditors: amounts falling due within one year 15a (38,096) (44,402)
Net current assets 3,851,468 2,236,390
Total assets less current liabilities 4,555,273 2,882,660
Creditors: amounts falling due after one year 15b (40,950) (35,950)
Total net assets 4,514,323 2,846,710
The funds of the charity: 17a
Restricted income funds 2,449,143 157,643
Unrestricted income funds:
Designated funds: 703,805 2,197,784
General funds 1,361,375 491,283
Total unrestricted funds 2,065,180 2,689,067
Total charity funds 4,514,323 2,846,710

Approved by the trustees on 20 September 2022 and signed on their behalf by

Julia Hodgson Treasurer

Michael Hampshire Vice Chair

21

Combined Cadet Force Association

Statement of cash flows

For the year ended 31 March 2022

Note
Net cash provided by operating activities
Movement in short term deposit
Movement in cash held by investment managers
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of investments
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the
year
Net cash provided by investing activities
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Cash flows from operating activities
Net income/(expenditure) for the reporting period
(as per the statement of financial activities)
(Gains)/losses on investments
Dividends and interest from investments		 £
£
1,667,613
(45,442)
(13,295)
(477)
(1,306)
1,607,093
13,295
(350,365)
(27,105)
15,012
(349,163)
1,257,930
1,678,092
2,936,022
12 months ended 31
March 2022		 £
£
1,667,613
(45,442)
(13,295)
(477)
(1,306)
1,607,093
13,295
(350,365)
(27,105)
15,012
(349,163)
1,257,930
1,678,092
2,936,022
12 months ended 31
March 2022		 £
£
(1,379,339)
(45,532)
(13,839)
69,690
32,914
(1,336,106)
13,839
899,836
-
(5,442)
908,233
(427,873)
2,105,965
1,678,092
8 months ended 31
March 2021		 £
£
(1,379,339)
(45,532)
(13,839)
69,690
32,914
(1,336,106)
13,839
899,836
-
(5,442)
908,233
(427,873)
2,105,965
1,678,092
8 months ended 31
March 2021
1,607,093
(349,163)		 (1,336,106)
908,233
1,257,930
1,678,092		 (427,873)
2,105,965
2,936,022 1,678,092

22

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

a) Statutory information

Combined Cadet Force Association is a charitable company limited by guarantee and is incorporated in the United Kingdom.

The registered office address and principal place of business is Holderness House, 51-61 Clifton Street, London, EC2A 4DW.

b) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Key judgements that the charity has made which have a significant effect on the accounts include estimating the liability from multi-year grant commitments.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

23

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

j) Grants payable

Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

k) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising overhead costs of the central function, is apportioned on the following basis which are an estimate of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

l) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

m) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

24

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

1 Accounting policies (continued)

n) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing #quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

o) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

p) Short term deposits

Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 24 months.

q) 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.

r) 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.

s) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2 Income from donations and legacies

Income from donations and legacies
Donations
Legacies
Donated services
Ministry of Defence grant		 Unrestricted
£
13
684
10,230
1,178,300		 £
-
-
-
921,700
Restricted		 2022
Total
£
13
684
10,230
2,100,000		 Unrestricted
£
-
-
5,040
147,430		 8 months
ended 31
March
2021
Total
£
£
-
-
-
-
-
5,040
35,443
182,873
35,443
187,913
Restricted
1,189,227 921,700 2,110,927 152,470

The Reserve Forces and Cadets Association for Greater London kindly donates office space to the CCFA. This is recognised at the estimated cost of securing suitable alternative office space. The value of the service has increased in line with the employment of new staff.

MoD restricted grant of £846,000 received for the Contingent Growth Fund.

25

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

Income from charitable activities
Supporting cadets and volunteers
Subscriptions
Donations
Sub-total
Dividends
Bank interest
Income from investments
Total		 Unrestricted
£
11,912
-		 £
-
10,000
Restricted		 2022
Total
£
11,912
10,000		 Unrestricted
£
21,043
-		 £
-
10,000
Restricted		 8 months
ended 31
March
2021
Total
£
21,043
10,000
11,912 10,000 21,912 21,043 10,000 31,043
11,912 10,000 21,912 21,043 10,000 31,043
2022
Total
£
12,692
603		 8 months
ended 31
March
2021
Total
£
5,742
8,097
13,295 13,839

All income from investments is unrestricted.

26

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

5a Analysis of expenditure (current year)

Staff costs (Note 8)
Grant making (Note 6)
Direct activity costs
AGM and event costs
Insurance
Marketing and advertising
Premises costs
Audit and accountancy fees
Trustee expenses
Investment manager fees
Other
Support costs
Governance costs
Total expenditure 2022
Total expenditure 2021		 Raising
funds
£
-
-
-
-
-
-
-
-
-
600
-		 Charitable activities Governance
costs
£
-
-
-
-
-
-
-
9,770
429
-
-		 Support
costs
£
108,922
-
-
-
35
-
10,230
-
-
-
2,857		 8 months
ended 31
March 2021
£
£
307,066
241,653
44,513
1,377,177
9,508
532
1,678
1,560
35
419
146,669
15,511
10,230
5,040
9,770
11,910
429
2,536
600
300
2,857
1,028
533,355
1,657,666
-
-
-
-
533,355
1,657,666
2022
Supporting
contingents
£
198,144
35,474
9,508
1,678
-
146,669
-
-
-
-
-		 Supporting
cadets and
volunteers
£
-
9,039
-
-
-
-
-
-
-
-
-
600
-
-		 391,473
122,044
10,199		 9,039
-
-		 10,199
-
(10,199)		 122,044
(122,044)
-
600 523,716 9,039 - -
300 1,640,540 16,826 - -

27

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

5b Analysis of expenditure (prior year)

Staff costs (Note 8)
Grant making (Note 6)
Direct activity costs
Annual dinner costs
Insurance
Marketing and advertising
Premises costs
Audit and accountancy fees
Trustee expenses and AGM
Investment manager fees
Other
Support costs
Governance costs
Total expenditure 2021		 Raising
funds
£
-
-
-
-
-
-
-
-
-
300
-		 Charitable activities Charitable activities Governance
costs
£
-
-
-
-
-
-
-
11,910
2,536
-
-		 Support
costs
£
£
60,348
241,653
-
1,377,177
-
532
-
1,560
419
419
-
15,511
5,040
5,040
-
11,910
-
2,536
-
300
1,028
1,028
66,835
1,657,666
(66,835)
-
-
-
-
1,657,666
8 months
ended 31
March 2021
Supporting
contingents
£
165,841
1,375,977
370
1,560
-
15,511
-
-
-
-
-		 Supporting
cadets and
volunteers
£
15,464
1,200
162
-
-
-
-
-
-
-
-
300
-
-		 1,559,259
66,835
14,446		 16,826
-
-		 14,446
-
(14,446)
300 1,640,540 16,826 -

28

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

6 Grant making

A list of the School CCF Contingents that have received grants from the CCFA is in note 19.

In addition to the amounts committed and accrued, the CCFA authorises certain grants which are subject to acceptance of the terms and conditions such as the employment of a School Staff Instructor. The total amount authorised, but not accrued for, was £40,298 (8 months ended 31 March 2021: £112,799).

Small grants programme
Cadet Bursary Fund
At the end of the year
Supporting contingents
CCF Sustainability Fund
Supporting cadets and volunteers
Contingent Growth Fund		 2022
£
(14,472)
50,000
(54)
9,039		 8 months ended 31
March
2021
£
635,367
677,257
63,353
1,200
44,513 1,377,177

CCF Sustainability Fund - money refunded from 5 schools for non use of grant payments in YE 31 March 2022 Contingent Growth Fund - £50K grant awarded to MSSC in year ended 31 March 2022. Cadet Bursary Fund - money refunded for unspent grant from Schools, offset by committed grants payable from prior year.

Small Grants Programme, grants awarded to 16 schools in year ended 31 March 2022.

7 Net income / (expenditure) for the year

This is stated after charging / (crediting):

8 months ended 31
March
2022 2021
£ £
Auditor's remuneration (excluding VAT):
Audit - current year 8,300 7,900

29

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

Staff costs were as follows:
Employer’s contribution to defined contribution pension schemes
Social security costs
Salaries and wages		 2022
£
258,434
27,230
21,402		 8 months ended 31
March
2021
£
214,501
14,969
12,183
307,066 241,653

No employee earned more than £60,000 during the year (8 months ended 31 March 2021: nil).

The trustees consider that they, together with the Chief Executive and the Deputy Chief Executive comprise the key management personnel of the charity. The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £90,559 (8 months ended 31 March 2021: £60,348).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (8 months ended 31 March 2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (8 months ended 31 March 2021: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £375 (8 months ended 31 March 2021: nil) incurred by 2 (8 months ended 31 March 2021: nil) members relating to attendance at meetings of the trustees.

9 Staff numbers

The full time equivalent staff carrying out work for the CCFA during the year was 7 (8 months ended 31 March 2021: 6).

Because the CCFA shares its back office functions with ACCT UK it has chosen to employ all staff across both charities on joint contracts. This means that the charities gain flexibility and economies in how staff support the charities. However this joint contract arrangement requires CCFA to disclose the average number of employees for the two charities combined. This is taken as a head count based on number of staff employed. During the year this was 53 (8 months ended 31 March 2021: 52).

10 Related party transactions

Recharges of £307,066 (8 months ended 31 March 2021: £169,427) were made by ACCT UK, a registered charity, which provides resources to the CCFA at cost. Of this £198,144 (8 months ended 31 March 2021: £198,964) is included in supporting contingents, £nil (8 months ended 31 March 2021: £10,115) is included in supporting cadets and volunteers and £108,922 (8 months ended 31 March 2021: £60,348) is included in support costs.

On occasion grants are awarded to contingents at which trustees are adult volunteers. Decisions about who to award funds to are made by the Grants Committee. On the rare occasion a trustee's contingent has applied for a grant, that trustee will not be a party to the discussion of their contingent's application. If they sit on the Grants Committee they will leave the room for that part of the meeting.

There were nil (8 months ended 31 March 2021: nil) transactions of the above type relating to nil (8 months ended 31 March 2021: nil) regional trustees totalling £nil (8 months ended 31 March 2021: £nil) during the year.

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

30

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

11 Amounts disbursed as agent

The Combined Cadet Force Association acts as an agent for members requiring insurance. Income and related disbursements are therefore excluded from the statement of financial activities. During the year, funds of £34,805 (8 months ended 31 March 2021: £30,618) were received, £25,413 (8 months ended 31 March 2021: £20,955) was expended, £nil (8 months ended 31 March 2021: £nil) was receivable and £9,392 (8 months ended 31 March 2021: £nil) was written off and moved to miscellaneous income. This is in line with the charity's policy on treatment of surplus and deficit insurance receipts.

12 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

13 Listed investments

13
Listed investments
14
Fair value at the end of the year
Investments comprise:
Cash
Funds listed on the London Stock Exchange
Prepayments
Disposal proceeds
Net gain on change in fair value
Debtors
Additions at cost
Fair value at the start of the year
Cash held by investment broker pending reinvestment		 31 March
2022
£
627,093
27,105
-
45,442		 31 March
2021
£
581,561
-
-
45,532
699,640
4,165		 627,093
19,177
703,805 646,270
31 March
2022
£
699,640
4,165		 31 March
2021
£
627,093
19,177
703,805 646,270
31 March
2022
£
3,013		 31 March
2021
£
2,536
3,013 2,536

31

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

15a
15b
16a
16b
Accruals
Long term liabilities
Investments
Net current assets
Analysis of net assets between funds (current year)
Grants payable - due in 2-5 years
Creditors: amounts falling due after one year
Trade Creditors
Net assets at 31 March 2022
Analysis of net assets between funds (prior year)
Grants payable
Creditors: amounts falling due within one year		 General
unrestricted
£
-
2,248,325
(40,950)		 Designated
£
703,805
-
-		 31 March
2022
£
13,483
16,541
8,072		 31 March
2021
£
30,982
900
12,520
38,096 44,402
31 March
2022
£
40,950		 31 March
2021
£
35,950
40,950 35,950
Restricted
£
-
2,449,143
-		 Total funds
£
703,805
4,697,468
(40,950)
2,207,375 703,805 2,449,143 5,360,323
Net assets at 31 March 2021
Net current assets
Investments
Long term liabilities		 General
unrestricted
£
-
527,233
(35,950)		 Designated
£
646,270
1,551,514
-		 Restricted
£
-
157,643
-		 Total funds
£
646,270
2,236,390
(35,950)
491,283 2,197,784 157,643 2,846,710

32

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

17a Movements in funds (current year)

Total restricted funds
Total designated funds
General funds
CCF Equipment Fund
CCF Conference Fund
Grant Generation Fund
Unrestricted funds:
Designated funds:
Total funds
Contingent Growth Fund
Donor Fund (Small Grants)
CCF Marketing Fund
Contingent Growth Fund
Restricted funds:
Cadet Bursary Fund
CCF Sustainability Fund
Total unrestricted funds		 At 1 April
2021
£
98,472
15,175
3,465
20,000
20,531
-		 Income &
gains
£
-
10,000
-
-
75,700
846,000		 Expenditure
& losses
£
(9,115)
(9,039)
-
-
(146,070)
(59,222)		 Transfers
£
-
5,000
-
-
49,839
1,528,407		 At 31 March 2022
£
89,357
21,136
3,465
20,000
-
2,315,185
157,643 931,700 (223,446) 1,583,246 2,449,143
23,107
646,270
1,528,407		 -
58,135
-		 (24,024)
(600)
-		 917
-
(1,528,407)		 -
703,805
-
2,197,784 58,135 (24,624) (1,527,490) 703,805
491,283 1,211,133 (285,285) (55,756) 1,361,375
2,689,067 1,269,268 (309,909) (1,583,246) 2,065,180
2,846,710 2,200,968 (533,355) - 4,514,323

A transfer of £1,583,246 has been made from designated funds to restricted funds. This is as a result of negotiation with the MOD on how funds are to be treated in the future, during which we agreed to move all remaining funds from MOD sources into the restricted Contingent Growth Fund.

The narrative to explain the purpose of each fund is given at the foot of the note below.

33

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

17b Movements in funds (prior year)

Total restricted funds
Total designated funds
General funds
Total funds
CCF Equipment Fund
CCF Marketing Fund
Total unrestricted funds
Restricted funds:
Cadet Bursary Fund
Small Grants Fund
Unrestricted funds:
Grant Generation Fund
CCF Sustainability Fund
Designated funds:
CCF Conference Fund
Contingent Growth Fund		 At 1 August
2020
£
595,862
6,375
3,465
20,000
-		 Income &
gains
£
-
10,000
-
-
35,443		 Expenditure
& losses
£
(105,575)
(1,200)
-
-
(14,912)		 Transfers
£
(391,815)
-
-
-
-		 At 31 March 2021
£
98,472
15,175
3,465
20,000
20,531
625,702 45,443 (121,687) (391,815) 157,643
1,495,719
595,295
1,000,000		 -
5,742
-		 (658,763)
(300)
(677,257)		 (813,849)
45,533
1,205,664		 23,107
646,270
1,528,407
3,091,014 5,742 (1,336,320) 437,348 2,197,784
509,333 227,142 (199,659) (45,533) 491,283
3,600,347 232,884 (1,535,979) 391,815 2,689,067
4,226,049 278,327 (1,657,666) - 2,846,710

Purposes of restricted funds

Cadet Bursary Fund - this represents income received in order to be used to support the set up costs of new CCF Contingents in state schools.

CCF Sustainability Fund - this represents income received in order to be used to support sustainability projects in CCF Contingents at risk of closure, or for markering purposes.

Donor Fund - this represents income received in order to be used to support individual cadets to be able to access the full cadet experience unhindered by the vagaries of personal circumstance.

CCF Conference Fund - this represents income received in order to be used to support CCF conferences and events.

CCF Equipment Fund - this represents income received in order to be used to purchase equipment in support of the CCF.

Purposes of designated funds

Grant Generation Fund - these are funds set aside by the trustees and treated in the same way as an endowment in order to generate funds that can be used in CCFA's grant programmes.

Contingent Growth Fund - these funds are intended to help CCF contingents to cater for a larger number of young people so that they can take part in CCF activites each year.

34

Combined Cadet Force Association

Notes to the financial statements

For the year ended 31 March 2022

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

ABBEY COLLEGE ARK ALEXANDRA ACADEMY (WILLIAM PARKER ACADEMY) BARNARD CASTLE SCHOOL BLOOMFIELD COLLEGIATE BLOOMFIELD COLLEGIATE BOLDON SCHOOL BOLDON SCHOOL BRAKENHALE SCHOOL CAMPBELL COLLEGE CAMPBELL COLLEGE COOKSTOWN HIGH SCHOOL CO-OP ACADEMY WALKDEN HARRIS ACADEMY CHAFFORD HUNDRED HELE'S SCHOOL HIGHFIELD LEADERSHIP ACADEMY ICENI ACADEMY JOHN MADEJSKI ACADEMY KHALSA SECONDARY ACADEMY LIPSON COOPERATIVE ACADEMY MONTSAYE ACADEMY MOSSBOURNE COMMUNITY ACADEMY

NPTC GROUP OF COLLEGES OUTWOOD GRANGE ACADEMY PANGBOURNE COLLEGE PORTSMOUTH COLLEGE QUEEN VICTORIA SCHOOL RATTON SCHOOL REDDAM HOUSE SELLY OAK TRUST SCHOOL (KES CCF) SEXEY'S SCHOOL SIR CHRISTOPHER HATTON ACADEMY ST DUNSTANS SCHOOL CCF (MILLFIELD SCHOOL CCF) STAMFORD WELLAND ACADEMY THE MALLING SCHOOL THE MARINE SOCIETY AND SEA CADETS THE MARLBOROUGH SCIENCE ACADEMY THE PRIORY ACADEMY LSST CCF TRINITY SCHOOL (TEIGNMOUTH) TUNBRIDGE WELLS GIRLS GRAMMAR SCHOOL WESTCLIFF HIGH SCHOOL FOR BOYS WESTMINSTER ACADEMY WYCLIFFE COLLEGE

35