``` REGISTERED CHARITY NUMBER: 1175211 ``` ## **`REPORT OF THE TRUSTEES AND`** ## **`UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022`** ## **`FOR`** ## **`INTELLIGENCE CORPS ASSOCIATION`** ``` Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ||**`Page`**| |---|---| |**`Report of the Trustees`**|`1 to 7`| |**`Independent Examiner's Report`**|`8`| |**`Statement of Financial Activities`**|`9`| |**`Balance Sheet`**|`10`| |**`Cash Flow Statement`**|`11`| |**`Notes to the Cash Flow Statement`**|`12`| |**`Notes to the Financial Statements`**|`13 to 24`| |**`Detailed Statement of Financial Activities`**|`25 to 26`| ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2022. ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended Practice applicableto charities preparing their accountsin accordancewith the FinancialReporting 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 are: ``` - `The promotion of the well-being and efficiency of His Majesty's Army, and in particular the Intelligence Corps (the Corps), by such charitable means as the Trustee Board thinks fit including, but not limited to, fostering esprit de corps and maintaining contact between past and present members of the Corps.` - `The education of the public in the role, history, traditions, customs and ethos of the Corps, including the provision of support to the Intelligence Corps Museum.` - `The relief of qualifying beneficiaries who are in need, by reason of youth, age, ill health, disability, financial hardship or other disadvantage.` - `The commemoration and remembrance of those members, or former members, of the Armed Forces of the Crown, in particular of the Intelligence Corps, who have lost their lives or suffered injury or put themselves at risk of loss of life or injury, in service to the public.` - `Any other charitable purpose as the Board thinks fit for the benefit of qualifying beneficiaries - namely:` - `- Past or present members of the Corps.` - `By exception, and at the discretion of the Trustee Board, those who can prove a substantive link with the Corps.` - `Dependants of those mentioned in the sub paragraphs above.` ## **`Public benefit`** ``` MembersandformermembersoftheCorps,withsupportofthecharity,participatein,andorganise,arange of activities which provide a public benefit. ``` ``` Page 1 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Benevolent fund spending`** ``` Duringthereportingperiodtotalexpenditure,beforegains/lossesoninvestments,fromtheBenevolentFund was £118,338whichwas spentdirectlyon charitableactivities,grantsanddonations.The beneficiarieswere wide ranging and included veterans and families with disabilitieswho were in need of equipmentto make life more manageable and comfortable. ``` ## **`Grants and Benevolence Sub-Committee`** ``` ThetrusteeshaveappointedandempoweredaGrantsandBenevolencesub-committeetodealwiththeday to processingofallgrantrequests.Thesub-committeecomprises:CorpsSecretary(Chair),CorpsCOS,Corps Sergeant Major and the WarrantOfficer (Trade Training),Templer Company.Whilst loans are occasionallyapproved,this is very muchbyexception,astheTrusteesprefertomakeagranttoalleviatehardship.Unanimousagreementon whether, andhowmuchtoaward,isrequiredforeveryapplicationputtothecommittee.Forgrantsover£5,000but below £10,000theCorpsColonelandDeputyColonelCommandantarerequiredtogiveapprovalinadditiontothe Grants andBenevolenceSubCommittee.Forgrantsabove£10,000TrusteeBoardendorsementisrequired.Allgrants above £5,000 are reported to Trustees and ratified at the next Trustee Board meeting. ``` ``` Veterans- A casemustbe madebyanindependentcaseworker.Thisis usuallyanadviserfromanassociated charity suchasSSAFAortheRBLbutmaybeanICARegionalSecretary.Theywillstudytheindividual'scircumstances and makerecommendations,confirmingthattheapplicanthasbeentruthfulabouttheirrequirementsandensuring that they have applied for all appropriatestate allowancesbefore ICA is invited to make a contribution.Where possible, the Corps shares the contributionwith other regimentalassociations(if appropriate)and charities.Each case is considered on its merits by the Grants and Benevolence sub-committee (as referred above) who aim to be as generous as possible. ``` ``` CorpsPadre-TrusteesagreedthatasmallstipendbemadeavailabletoretaintheservicesoftheHonorary Corps Padre,specificallyintheareaofwelfaresupportandalsoregularleadershipbriefingstoPhaseTwotrainees. The HonoraryCorps Padreretiredfrom servicelife in late 2021after15 yearsof serviceto the Corps;the stipendand TOR will be reviewed on an annual basis. ``` ``` Page 2 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Grantmaking`** ``` ServingPersonnel- The case must be made throughthe chainof commandto ensurethatthe CommandingOfficer is awareofthewelfaredifficultiesoftheapplicantandtoconfirmthattheapplicanthasexhaustedallother potential civilianand military sourcesof fundingto resolve the problem.Each case is consideredon its merits by the Grants and Benevolence sub-committee (as referred to above). ``` ``` Toreceiveagrant,theapplicantmustprovethattheproposedactivityfallswithinthescopeofthecharitable funds andthattheyintendtocarryitoutinthemostcost-effectivemanner.Theymustdemonstratethatthey have consideredandobtainedasmuchincomeaspossiblefromothersources,bothmilitarygrantsand civilian grants/sponsorshipwhereappropriate,aswellasmakingapersonalcontribution,wherepossible.Eachcase is consideredonitsmeritsbytheGrantsandBenevolencesub-committee,whoaimtobeasgenerousas possible. However, it should be noted that serving personnel not paying subscriptions to the Association may not be eligible. ``` ## **`Grant-making activities`** ``` Duringtheyearto31December2022thetotalexpenditure,beforegains/lossesoninvestments,was£519,405. The fund was used to support the whole Corps 'family', including assistance to: ``` - `Deployed troops and their families, as well as to those taking part in leadership and adventurous training exercises, sports and social activities.` - `Benevolence support to serving and retired Corps members.` - `Corps heritage through an annual grant to the Military Intelligence Museum.` - `Remembrance activities.` - `Strengthening esprit de corps and keeping members in touch with one another through the publication of the annual Corps journal, The Rose and the Laurel; the funding of Corps Day activities; and the administration of 14 regional branches.` - `Limited aspects of recruiting and training, including the presentation of prizes and awards to top students and stable belts and rank slides to newly qualified Phase 2 Trainees.` - `ICA Resettlement and Employment Cell (ICAREC), which assists service leavers with finding employment` - `- Maintaining regimental alliances.` ``` TheAssociationmayalsomakegrantstoanycharityorcharitablefundwithsimilarobjectiveswiththeaim of benefiting those listed above, for example the Army Benevolent Fund, SSAFA or The Royal British Legion (TRBL). ``` ``` Page 3 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`ACHIEVEMENT AND PERFORMANCE Charitable activities`** ``` Trustees agreed that two new funds, the Svendsen BenevolenceFund (SBF) and the new Purpose Fund (NPF), be made availabletomembersfromQ3.The£430,000SBF,bequeathedtoICAbyLtCol(retired)NormanSvendsen, and £350,000NPFwill be releasedin equalamountsover10 yearsensuringcontinuedsupportata guaranteedlevel. The SBFwillprovidesupportforrespitebreaksformembersandimmediatefamilies;theNPFisdirectedatsupport to familiesstrugglingto keep up with the ever-increasingcostof living,exacerbatedby the turmoilof Army life. All grant applicationsareconsideredbytheGrantsandBenevolenceSub-Committee(referencedabove),withinitialtake up seeing over £6,000 allocated from the SBF and over £2,000 from the NPF. ``` ``` Otherareastrusteeswere pleasedto help with includedthe adaptationof the houseof the servingwarrantofficer to enable their young permanentlywheelchair-boundchild to navigatethe house more easily.The total requirement was for £60,000towardswhich the Associationprovidedover 1/3 with the remainderfoundfrom a collaboration between the TRL, RBL Women's Service and the ABF. The adaptationsincluded creating a downstairsbedroom and adjacent wet room,andappropriatemobilityvehicleaccesstothegardenanddriveareas.Thissupporthasincreasedthe living experience of the whole family and enabled the serving soldier to remain fully operational for Army duties. ``` ``` SupportingfamilylifeisacrucialaspectofAssociationcharitablegiving,withanincreaseinrequestsfrom serving familiesnoticeable,particularlyin mentalhealthsupport.Examplesincludecounsellingfor a seniorofficer'schild with self-harmtendencies,andawarrantofficer'steenagerwithsignificantangerissues.Aseriesofsessions with appropriatehealthcareprofessionals,not availablein a timely manner through either the military healthcaresystem or the NHS, ameliorated both issues. ``` ``` Supportto veteranscontinuedat a steadydrum beat.Trusteeswere particularlypleasedto providegenerous support toaveteranwhohadlostbothhislowerlimbstosepsisthroughthepurchaseofaspecialisedrugbywheelchair to enablehiscontinuedrehabilitationpostoperation.Theveteranhasprogressedthroughthelevelsofdisabled rugby andhopestoparticipateatrepresentationallevelattheInvictusGames.Inmoreroutinematter,annual stipend continues to maintain an elderly veteran in a home in Malaya. ``` ``` Serving members of the Corps have returned to their pre-Covid levels of sporting and adventuroustraining activity with Trusteepleasedtoprovidesupportacrossmultipleactivities,including,butnotlimitedtoclaypigeonshooting, Army skiingcompetitions,cyclingandtriathlon,offshoresailingandnetball.Intotalabout£150,000wasmadeingrants to support this area of Association life. ``` ``` TosupporthistoryandCorpsethos,grantsweremadeacrossavarietyofareas,includingtherenovationof the weathervane,originallylocatedatTemplerBarracks,Ashford,andtransportedtoChicksandsinwhenthe Corps relocatedin1999,whichhadfallenintodisrepair,butnowsitssplendidlyatoptheTemplerTrainingCompany lines. Boththe1stand4thBattalionsweresupportedwithgenerousdonationstocommissionaSilverPieceandan Ethos RoomintheHQrespectively.TomarktheeffortundertakenbysoldiersandofficersfromtheCorpswhoparaded in supportofthefuneralofHerMajestytheQueen,trusteeswerehappytoprovideadonationtosupportameal out after that momentous occasion. ``` ``` Finally,Trusteeswere pleasedto be able to assist the MilitaryIntelligenceMuseum by way of a £10,000stipendand a £500 donation to the RBLY Services Branch towards upkeep of its memorial site at the National Memorial Arboretum. ``` ``` Page 4 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`FINANCIAL REVIEW`** ## **`Finance Committee`** ``` The Trustees have appointedand empowered a Finance Sub-Committeeto bring a specific focus on financialmatters in additiontothegeneralscrutinyoffinanceconductedatfullTrusteeBoardmeetings.Thesub-committee comprises: threeTrustees,anexternalsubjectmatterexpertandtheCorpsSecretary.Itexercisesoversightofthe operating budget and management of reserves. ``` ## **`General`** ``` Totalincomefortheyearamountedto£490,243(2021:£599,178).Totalexpenditureamountedto£519,405 (2021: £384,002).TheFundhadtotalnetoutgoingresourcesfortheyearof£29,162(2021:netincomingresources of £215,176),beforerealisedandunrealisedlossesoninvestmentsof £346,625(2021:gainsof £392,100).Therewas an overalldeficitfortheyearof£375,787(2021:surplusof£607,276).Totalfunds(includinginvestments)to carry forward at 31 December 2022 were £2,766,300 (2021: £3,142,087). ``` ## **`Principal funding sources`** ``` The primary sources of income are: ``` - `Day's Pay Scheme (monies contributed by serving personnel and some reserve personnel)` - `Investment income` - `Quarterly Association subscriptions (from reserve personnel)` - `Annual Association subscriptions - retired Intelligence Corps personnel and Associate Members of ICA` - `Donations` - `Corps Shop Profits` - `Current Account Interest` - `Bequests` ## **`Investment policy and objectives`** ``` The Trusteesagree thatthe level of risk to be takenby the portfoliomanagerwas to be medium to high,and that the aim was to achieve a balance between growth in the restricted funds and income from the unrestricted funds. ``` ## **`Reserves policy`** ``` The policy to enable a larger operatingbudget had resulted in significantfunding being made availableto Commanding Officersandheadsof departmentto bettersupportthe IntelligenceCorpssoldiersandofficersundertheir command. Trustees consider that the continuedaccumulationof the remaining investment income will maintain the fund's overall value and enable functioning valuations to be offset in the long term. ``` ``` Trusteesrecognisetherequirementforadequateresourceshouldtheassociationsufferasignificantfinancial shock and assess that any recovery plan would be able to be enactedwithin 15 months and would require up to £100,000 of freeunrestrictedreserves.AlthoughtheeconomicimpactofCovid-19hasaffectedourreserves'values,our financial resilience is such that it has not impaired our ability to continue the provision of benevolence. ``` ``` Page 5 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`FUTURE PLANS`** ``` Largenumbersofourofficersandsoldierscontinuetobeeitherdeployedon,ordirectlysupporting, current operations.Thislevelofdemandlookssettoendureandrepresentsahigherpercentageofcommitmentthan most otherareasoftheArmy.Notwithstandingthis,orperhapsbecauseofit,the'Corpsfamily'continuestobe vibrant, strongandinclusiveanditisrecognisedthattheAssociationplaysavitalroleinsupportingasuccessfuland thriving Corps. ICA continues to support this aspect of the serving cohort as the primary object of the Association. ``` ``` The Charitywill continueto maximisesupportto servingpersonnel(RegularandReserve)andtheirfamiliesin time of need.As a counterbalancetotheoperationaldemands,andasa retentionincentive,theTrusteescontinueto regard opportunitiesfor personalteamdevelopmentthroughsport,adventuretrainingandleadershipexercisesas essential, and are keen to support the demand. ``` ``` Trusteesplacegreatemphasison the conceptof life-longbelongingto the StrongCorpsFamilyandon the support to Corpsveterans,aswellastothewidows,widowersanddependentsofservingandveteranCorpsmembers. Serving memberswillcontinuetobeassistedintheirtransitiontocivilianlifethroughanetworkofcontacts,mainly veteran Corpsmembers,whocanprovideguidanceandofferpracticalhelpinfindingemployment.Linkswithinand between theRegionalBranchesof theAssociationwillbe strengthened,a high-qualityCorpsJournalwillbe produced annually and the Corps Day events,which are open to all, will continueto be organisedannuallyas a centralcelebrationat the home of the Corps in Chicksands, whilst supporting unit led Corps Day events wherever Corps personnel are deployed. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document`** ``` The charity is controlled by its governing document and is constituted as a charitable incorporated organisation. ``` ## **`Organisational structure`** ``` Thereductionfrom18to12trusteeshasimproveddecisionmakingandincreasedresponsetime,whilereducing the lengthoftimespentincommittee.FullusehasbeenmadeofITtoenableTrusteecommunicationsduring lockdown periods. ``` ``` TheIntelligenceCorpsAssociationhasaverysmalltradingoperation,whichisusedinpursuanceofits primary purpose.ItiseffectivelyaserviceforICAmembers,enablingthemtopurchasearticlessuchasnon-issueitems of uniform(badges,berets,stable-beltsandbuttons);Corpsmementoes;andintelligence-relatedbooks.Stable belts, badgesofrankandtactical'flashes'aregiftedfromthistradingoperationtoallsoldiersandofficers,Regular and Reserve, when they successfullypass IntelligenceCorps trade trainingand join the Association;trustees agreed to fund these costs from the annual budget. ``` ## **`Appointment of Trustees`** ``` The Trustee Board comprises 12 Trustees: ``` - `The Deputy Colonel Commandant (as Chair)` - `4 additional ex officio Trustees` - `2 Nominated Trustee` - `5 co-opted trustees.` ``` The ex-officio trustees ('the office holders') for the time being are: ``` - `The Deputy Colonel Commandant` - `The Corps Colonel` - `The Colonel Reserves` - `The Corps Sergeant Major` - `Chair Intelligence Corps Association Resettlement and Employment Cell (ICAREC)` ``` Page 6 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT Decision making`** ``` Decisionsonawardinggrantsuptothevalueof£5,000aremadebytheGrantsandBenevolencesub-committee (as referred above). ``` ``` Day to day running of the charity is delegated to the Corps Secretary. ``` ## **`Induction and training of new trustees`** ``` All Trustees have been furnishedwith a copy of the governingdocument,the most recent annualreport and accounts, and details of 'The Essential Trustee: What you need to know'. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number`** ``` 1175211 ``` ## **`Principal address`** ``` Headquarters Intelligence Corps Chicksands Bedfordshire SG17 5PR ``` ## **`Trustees`** ``` The charity has been given a dispensation by the Charity Commission from publishing the names of its Trustees. ``` ## **`Independent examiner`** ``` Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ ``` ## **`Bankers`** ``` Holts, Lawrie House, Victoria Road, Farnborough, GU14 7NR ``` ## **`Investment managers`** ``` Rathbones 8 Finsbury Circus. London, EC2M 7AZ Approved by order of the board of trustees on ............................................. and signed on its behalf by: ``` ``` ........................................................................ Trustee ``` ``` Page 7 ``` ``` INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INTELLIGENCE CORPS ASSOCIATION ``` ## **`Independent examiner's report to the trustees of Intelligence Corps Association`** ``` I reportto the charitytrusteeson my examinationof the accountsof IntelligenceCorps Association(the Trust)for the year ended 31 December 2022. ``` ## **`Responsibilities and basis of report`** ``` AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the requirements of the Charities Act 2011 ('the Act'). ``` ``` I reportin respectof my examinationof theTrust'saccountscarriedoutunderSection145of theActandin carrying out my examinationI have followedall applicableDirectionsgiven by the CharityCommissionunderSection 145(5)(b) of the Act. ``` ## **`Independent examiner's statement`** ``` Since your charity'sgross income exceeded£250,000your examinermust be a member of a listedbody.I can confirm thatI am qualifiedto undertakethe examinationbecauseI am a member of the Instituteof CharteredAccountants in England and Wales, which is one of the listed bodies. ``` ``` Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnection with the examination giving me cause to believe that in any material respect: ``` `1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or` `2. the accounts do not accord with those records; or` `3. 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.` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ``` ``` David Stevens ``` ``` The Institute of Chartered Accountants in England and Wales ``` ``` Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight PO30 5BZ ``` ``` Date: ............................................. ``` ``` Page 8 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
`Other trading activities`
`3`
`Investment income`
`4`
`Other income`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`5`
**`Charitable activities`**
`6`
`Relief of hardship and other disadvantages`
`General charitable purposes`
`Commemoration and remembrance`
`Promotion of the well-being and efficiency of his`
`majesty's army`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`310,885`
`35,690`
`28,818`
`7,840`
`383,233`
`45,171`
`180`
`108,401`
`53,098`
`194,217`
`401,067`
`(128,251)`
`(146,085)`
`1,170,734`
`1,024,649`|`Restricted`
`funds`
`£`
`58,353`
`10`
`48,647`
`-`
`107,010`
`12,082`
`87,416`
`13,027`
`4,413`
`1,400`
`118,338`
`(218,374)`
`(229,702)`
`1,971,353`
`1,741,651`|`2022`
`Total`
`funds`
`£`
`369,238`
`35,700`
`77,465`
`7,840`
`490,243`
`57,253`
`87,596`
`121,428`
`57,511`
`195,617`
`519,405`
`(346,625)`
`(375,787)`
`3,142,087`
`2,766,300`|`2021`
`Total`
`funds`
`£`
`488,698`
`29,659`
`78,482`
`2,339`| |---|---|---|---|---| |||||`599,178`| |||||`57,279`
`98,825`
`170,713`
`2,230`
`54,955`| |||||`384,002`| |||||`392,100`| |||||`607,276`
`2,534,811`| |||||`3,142,087`| ``` The notes form part of these financial statements ``` ``` Page 9 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ## **`BALANCE SHEET 31 DECEMBER 2022`** |`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`12`
`Heritage assets`
`13`
`Investments`
`14`
**`CURRENT ASSETS`**
`Stocks`
`15`
`Debtors`
`16`
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`17`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`18`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
`413`
`24,000`
`900,985`
`925,398`
`40,434`
`4,772`
`65,231`
`110,437`
`(11,186)`
`99,251`
`1,024,649`
`1,024,649`|`Restricted`
`funds`
`£`
`-`
`-`
`1,729,785`
`1,729,785`
`-`
`-`
`11,866`
`11,866`
`-`
`11,866`
`1,741,651`
`1,741,651`|`2022`
`Total`
`funds`
`£`
`413`
`24,000`
`2,630,770`
`2,655,183`
`40,434`
`4,772`
`77,097`
`122,303`
`(11,186)`
`111,117`
`2,766,300`
`2,766,300`
`1,024,649`
`1,741,651`
`2,766,300`|`2021`
`Total`
`funds`
`£`
`133`
`24,000`
`2,844,083`
`2,868,216`
`33,654`
`2,953`
`248,013`
`284,620`
`(10,749)`
`273,871`
`3,142,087`
`3,142,087`
`1,170,734`
`1,971,353`
`3,142,087`| |---|---|---|---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on ............................................. and were signed on its behalf by: ``` ``` ............................................. Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 10 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ## **`CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022`** |`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Net cash (used in)/provided by operating activities`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`Movement in fund managers cash balance`
`Cash transferred to fund managers`
`Interest received`
`Dividends received`
`Net cash used in investing activities`
**`Change in cash and cash equivalents in the`**
**`reporting period`**
**`Cash and cash equivalents at the beginning`**
**`of the reporting period`**
**`Cash and cash equivalents at the end of the`**
**`reporting period`**|`2022`
`£`
`(114,519)`
`(114,519)`
`(550)`
`(58,312)`
`(75,000)`
`247`
`77,218`
`(56,397)`
`(170,916)`
`248,013`
`77,097`|`2021`
`£`
`152,156`
`152,156`
`-`
`(60,616)`
`(201,986)`
`29`
`78,453`
`(184,120)`
`(31,964)`
`279,977`
`248,013`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 11 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`** |**`Net (expenditure)/income for the reporting period (as per the`**
**`Statement of Financial Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`Losses/(gain) on investments`
`Interest received`
`Dividends received`
`(Increase)/decrease in stocks`
`Increase in debtors`
`Increase in creditors`
**`Net cash (used in)/provided by operations`**|`2022`
`£`
`(375,787)`
`270`
`346,625`
`(247)`
`(77,218)`
`(6,780)`
`(1,819)`
`437`
`(114,519)`|`2021`
`£`
`607,276`
`422`
`(392,100)`
`(29)`
`(78,453)`
`11,375`
`(625)`
`4,290`| |---|---|---| |||`152,156`| ## **`2. ANALYSIS OF CHANGES IN NET FUNDS`** ||`At 1.1.22`|`Cash flow`|`At 31.12.22`| |---|---|---|---| ||`£`|`£`|`£`| |**`Net cash`**|||| |`Cash at bank and in hand`|`248,013`|`(170,916)`|`77,097`| ||`248,013`|`(170,916)`|`77,097`| |**`Total`**|`248,013`|`(170,916)`|`77,097`| ``` The notes form part of these financial statements ``` ``` Page 12 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the CharitiesAct 2011. The financialstatementshave been preparedunder the historicalcost convention,with the exception of investments which are included at market value. ``` ## **`Income`** ``` All income is recognised in the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Day's Pay Scheme`** ``` Underthe scheme,a day'spayper annumis volunteeredby bothofficersandotherranksof the Corpsto The IntelligenceCorps Association.In order to complywith the King's Regulation,at least half of the funds received bythecharitywererestrictedandusedforbenevolentandwelfarecases.Duetochangesmadein the Regulation,theTrusteesformallyamendedtheirpolicytotreatalloneday'spayincomeasunrestrictedas of May 2022. ``` ## **`Intangible income`** ``` Intangibleincome,which comprisesdonatedservices,is includedin income at a valuationwhich is an estimate of the financial cost borne by the donor. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis andhasbeenclassifiedunderheadingsthataggregateallcostrelatedto thecategory.Wherecostscannot be directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the use of resources. ``` ``` Grants offered subject to conditionswhich have not been met at the year end date are noted as a commitment but not accrued as expenditure. ``` ## **`Investment assets and income`** ``` Investmentsarecarriedinthebalancesheetatmarketvalue.Surplusesanddeficitsarisingondisposals are takento the statementof financialactivities.Unrealisedgains and losses includedin the statementof financial activitiesarise as a result of the revaluationof investmentsto marketvalue at the balancesheet date. Realised and unrealised gains are not separated in the statement of financial activities. ``` ## **`Tangible fixed assets`** ``` Depreciationis providedat the followingannualratesin order to write off each assetover its estimated useful life. ``` ``` Plant and machinery ``` ``` - 25% on cost ``` ``` continued... ``` ``` Page 13 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`1. ACCOUNTING POLICIES - continued`** ## **`Heritage assets`** ``` The IntelligenceCorpsAssociationholdsheritageassetsin theformof commissionedpaintingswhichare held to preserve the heritageof the IntelligenceCorps in order to fulfil its objectiveof promotingthe well-being and efficiencyof His Majesty'sArmy, in particularthe IntelligenceCorps. These assets are includedat their cost and not depreciated as they are deemed to not have a finite useful life. ``` ## **`Stocks`** ``` Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and slow moving items. ``` ## **`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. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe 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. ``` ## **`2. DONATIONS AND LEGACIES`** |`Donations`
`Legacies`
`Grants`
`One days pay`
`Regional income`
`Intangible income - wages and salaries`
`Intangible income - rent, heat and light`
`Grants received, included in the above, are as follows:`
`Other grants`|`2022`
`£`
`48,651`
`3,250`
`20,000`
`274,597`
`990`
`20,000`
`1,750`
`369,238`
`2022`
`£`
`20,000`|`2021`
`£`
`65,300`
`108,000`
`20,992`
`271,150`
`1,506`
`20,000`
`1,750`| |---|---|---| |||`488,698`| |||`2021`
`£`
`20,992`| ``` continued... ``` ``` Page 14 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` |**`3.`**
**`OTHER TRADING ACTIVITIES`**
`Shop income`
**`4.`**
**`INVESTMENT INCOME`**
`Dividends`
`Deposit account interest`
**`5.`**
**`RAISING FUNDS`**
**`Other trading activities`**
`Opening stock`
`Purchases`
`Closing stock`
**`Investment management costs`**
`Portfolio management`
`Aggregate amounts`|`2022`
`£`
`35,700`
`2022`
`£`
`77,218`
`247`
`77,465`
`2022`
`£`
`33,654`
`45,052`
`(40,434)`
`38,272`
`2022`
`£`
`18,981`
`57,253`|`2021`
`£`
`29,659`
`2021`
`£`
`78,453`
`29`
`78,482`
`2021`
`£`
`45,029`
`28,517`
`(33,654)`
`39,892`
`2021`
`£`
`17,387`
`57,279`| |---|---|---| ``` continued... ``` ``` Page 15 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`6. CHARITABLE ACTIVITIES COSTS`** |`Direct`
`Costs`
`£`
`Relief of hardship and other`
`disadvantages`
`17,267`
`General charitable purposes`
`85,767`
`Commemoration and remembrance`
`57,511`
`Promotion of the well-being and`
`efficiency of his majesty's army`
`15,633`
`176,178`
**`7.`**
**`GRANTS PAYABLE`**
`Relief of hardship and other disadvantages`
`General charitable purposes`
`Promotion of the well-being and efficiency of his majesty's army`|`Grant`
`funding of`
`activities`
`(see note`
`7)`
`£`
`70,329`
`13,489`
`-`
`179,984`
`263,802`|`Support`
`costs (see`
`note 8)`
`£`
`-`
`22,172`
`-`
`-`
`22,172`
`2022`
`£`
`70,329`
`13,489`
`179,984`
`263,802`|`Totals`
`£`
`87,596`
`121,428`
`57,511`
`195,617`| |---|---|---|---| ||||`462,152`| ||||`2021`
`£`
`98,825`
`20,941`
`33,744`| ||||`153,510`| |**`8.`**|**`SUPPORT COSTS`**|||| |---|---|---|---|---| |||`Information`|`Governance`|| |||`technology`|`costs`|`Totals`| |||`£`|`£`|`£`| ||`General charitable purposes`|`6,888`|`15,284`|`22,172`| ## **`9. TRUSTEES' REMUNERATION AND BENEFITS`** ``` There were no trustees'remunerationor other benefitsfor the year ended 31 December 2022 nor for the year ended 31 December 2021. ``` ``` continued... ``` ``` Page 16 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`9. TRUSTEES' REMUNERATION AND BENEFITS - continued`** ## **`Trustees' expenses`** ``` Duringtheyeartravelandsubsistenceexpenseswerepaidonbehalfofsixtrustee'stotalling£3,688 (2021: £3,122). ``` ## **`10. STAFF COSTS`** |`Wages and salaries`
`The average monthly number of employees during the year was as follows:`
`Management and administration`|`2022`
`£`
`20,000`
`20,000`
`2022`
`3`|`2021`
`£`
`20,000`| |---|---|---| |||`20,000`| |||`2021`
`3`| ``` No employees received emoluments in excess of £60,000. ``` ``` Thewagesandsalariesfigureincludesdonatedservicesof£20,000(2021:£20,000)formembersof staff employed by the Ministry of Defence based on the rates of pay in place during the period. ``` ``` TheCorpsSecretaryisconsideredkeymanagementpersonnel,althoughthepostisfundedbytheMOD. The total employee benefits for this post were £7,020. ``` ## **`11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`Other trading activities`
`Investment income`
`Other income`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`Relief of hardship and other disadvantages`
`General charitable purposes`
`Commemoration and remembrance`
`Promotion of the well-being and efficiency of`
`his majesty's army`|`Unrestricted`
`funds`
`£`
`353,848`
`29,659`
`29,057`
`2,339`
`414,903`
`46,325`
`-`
`146,214`
`886`
`37,588`|`Restricted`
`funds`
`£`
`134,850`
`-`
`49,425`
`-`
`184,275`
`10,954`
`98,825`
`24,499`
`1,344`
`17,367`|`Total`
`funds`
`£`
`488,698`
`29,659`
`78,482`
`2,339`| |---|---|---|---| ||||`599,178`| ||||`57,279`
`98,825`
`170,713`
`2,230`
`54,955`| ``` continued... ``` ``` Page 17 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` |**`11.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -`**
**`Total`**
`Net gains on investments`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**
**`12.`**
**`TANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 January 2022`
`Additions`
`At 31 December 2022`
**`DEPRECIATION`**
`At 1 January 2022`
`Charge for year`
`At 31 December 2022`
**`NET BOOK VALUE`**
`At 31 December 2022`
`At 31 December 2021`|**`continued`**
`Unrestricted`
`funds`
`£`
`231,013`
`145,077`
`328,967`
`841,767`
`1,170,734`|`Restricted`
`funds`
`£`
`152,989`
`247,023`
`278,309`
`1,693,044`
`1,971,353`|`Total`
`funds`
`£`| |---|---|---|---| ||||`384,002`| ||||`392,100`| ||||`607,276`
`2,534,811`| ||||`3,142,087`| ||||`Plant and`
`machinery`
`£`
`6,881`
`550`
`7,431`
`6,748`
`270`
`7,018`
`413`
`133`| ``` continued... ``` ``` Page 18 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` |**`13.`**
**`HERITAGE ASSETS`**
**`MARKET VALUE`**
`At 1 January 2022 and 31 December 2022`
**`NET BOOK VALUE`**
`At 31 December 2022`
`At 31 December 2021`
**`14.`**
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 January 2022`
`Additions`
`Disposals`
`Net gains/(losses)`
`Invested cash movements`
`At 31 December 2022`
**`NET BOOK VALUE`**
`At 31 December 2022`
`At 31 December 2021`
`There were no investment assets outside the UK.`
**`15.`**
**`STOCKS`**
`2022`
`£`
`Stocks`
`40,434`|`Total`
`£`
`24,000`
`24,000`
`24,000`
`Listed`
`investments`
`£`
`2,844,083`
`487,052`
`(351,900)`
`(268,030)`
`(80,435)`
`2,630,770`
`2,630,770`
`2,844,083`
`2021`
`£`
`33,654`| |---|---| ``` continued... ``` ``` Page 19 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` |**`16.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
**`17.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Taxation and social security`
`Other creditors`
**`18.`**
**`MOVEMENT IN FUNDS`**
`At 1.1.22`
`£`
**`Unrestricted funds`**
`General fund`
`1,095,355`
`Trading fund`
`71,704`
`Prize fund`
`3,675`
`1,170,734`
**`Restricted funds`**
`Benevolence fund`
`1,971,353`
`New Purpose Fund`
`-`
`Svendsen Benevolence Fund`
`-`
`1,971,353`
**`TOTAL FUNDS`**
`3,142,087`|`Net`
`movement`
`in funds`
`£`
`(143,720)`
`(3,565)`
`1,200`
`(146,085)`
`(221,456)`
`(2,149)`
`(6,097)`
`(229,702)`
`(375,787)`|`2022`
`£`
`4,772`
`2022`
`£`
`6,485`
`187`
`4,514`
`11,186`
`Transfers`
`between`
`funds`
`£`
`4,875`
`-`
`(4,875)`
`-`
`(52,000)`
`23,333`
`28,667`
`-`
`-`|`2021`
`£`
`2,953`
`2021`
`£`
`6,470`
`187`
`4,092`
`10,749`
`At`
`31.12.22`
`£`
`956,510`
`68,139`
`-`||`2021`
`£`
`2,953`| |---|---|---|---|---|---| ||||||`2021`
`£`
`6,470`
`187`
`4,092`| |||||`10,749`|| ||||`1,024,649`
`1,697,897`
`21,184`
`22,570`||| ||||`1,741,651`||| ||||`2,766,300`||| ``` continued... ``` ``` Page 20 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`18. MOVEMENT IN FUNDS - continued`** ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
`Trading fund`
`Prize fund`
**`Restricted funds`**
`Benevolence fund`
`New Purpose Fund`
`Svendsen Benevolence Fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`346,354`
`35,679`
`1,200`
`383,233`
`107,010`
`-`
`-`
`107,010`
`490,243`|`Resources`
`expended`
`£`
`(361,823)`
`(39,244)`
`-`
`(401,067)`
`(110,092)`
`(2,149)`
`(6,097)`
`(118,338)`
`(519,405)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`(128,251)`
`(143,720)`
`-`
`(3,565)`
`-`
`1,200`
`(128,251)`
`(146,085)`
`(218,374)`
`(221,456)`
`-`
`(2,149)`
`-`
`(6,097)`
`(218,374)`
`(229,702)`
`(346,625)`
`(375,787)`| |---|---|---|---| ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
`Trading fund`
`Prize fund`
**`Restricted funds`**
`Benevolence fund`
**`TOTAL FUNDS`**|`At 1.1.21`
`£`
`756,028`
`81,414`
`4,325`
`841,767`
`1,693,044`
`2,534,811`|`Net`
`movement`
`in funds`
`£`
`339,327`
`(9,710)`
`(650)`
`328,967`
`278,309`
`607,276`|`At`
`31.12.21`
`£`
`1,095,355`
`71,704`
`3,675`| |---|---|---|---| ||||`1,170,734`
`1,971,353`| ||||`3,142,087`| ``` continued... ``` ``` Page 21 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`18. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
`Trading fund`
`Prize fund`
**`Restricted funds`**
`Benevolence fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`382,935`
`31,848`
`120`
`414,903`
`184,275`
`599,178`|`Resources`
`expended`
`£`
`(188,685)`
`(41,558)`
`(770)`
`(231,013)`
`(152,989)`
`(384,002)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`145,077`
`339,327`
`-`
`(9,710)`
`-`
`(650)`
`145,077`
`328,967`
`247,023`
`278,309`
`392,100`
`607,276`| |---|---|---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
`Trading fund`
`Prize fund`
**`Restricted funds`**
`Benevolence fund`
`New Purpose Fund`
`Svendsen Benevolence Fund`
**`TOTAL FUNDS`**|`At 1.1.21`
`£`
`756,028`
`81,414`
`4,325`
`841,767`
`1,693,044`
`-`
`-`
`1,693,044`
`2,534,811`|`Net`
`movement`
`in funds`
`£`
`195,607`
`(13,275)`
`550`
`182,882`
`56,853`
`(2,149)`
`(6,097)`
`48,607`
`231,489`|`Transfers`
`between`
`funds`
`£`
`4,875`
`-`
`(4,875)`
`-`
`(52,000)`
`23,333`
`28,667`
`-`
`-`|`At`
`31.12.22`
`£`
`956,510`
`68,139`
`-`| |---|---|---|---|---| |||||`1,024,649`
`1,697,897`
`21,184`
`22,570`| |||||`1,741,651`| |||||`2,766,300`| ``` continued... ``` ``` Page 22 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`18. MOVEMENT IN FUNDS - continued`** ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` |`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
`729,289`
`Trading fund`
`67,527`
`Prize fund`
`1,320`
`798,136`
**`Restricted funds`**
`Benevolence fund`
`291,285`
`New Purpose Fund`
`-`
`Svendsen Benevolence Fund`
`-`
`291,285`
**`TOTAL FUNDS`**
`1,089,421`|`Resources`
`expended`
`£`
`(550,508)`
`(80,802)`
`(770)`
`(632,080)`
`(263,081)`
`(2,149)`
`(6,097)`
`(271,327)`
`(903,407)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`16,826`
`195,607`
`-`
`(13,275)`
`-`
`550`
`16,826`
`182,882`
`28,649`
`56,853`
`-`
`(2,149)`
`-`
`(6,097)`
`28,649`
`48,607`
`45,475`
`231,489`| |---|---|---| ## **`Unrestricted funds`** ``` The charity'sgeneral fund consists of funds which the trustees are free to use in accordancewith the charitable objects ``` ``` Thetradingfundconsistsoffundsrelatingtotheoperationofthecharity'sshopandothertrading activities, the proceeds of which are available for use in accordance with the charitable objects. ``` ``` Theprizefundconsistsoffundsthatthetrusteeshavesetasidetobepaidinprizesinordertopromote the Corps in line with the charity's objects. ``` ## **`Restricted funds`** ``` The charity'sbenevolentfund may only be appliedtowards the cost of supportingthe families and members of theCorpsinreliefandhardship.Incomereceivedintothefundcanonlybeusedforbenevolentand welfare cases, in line with the charity's policy. ``` ``` Thepurposeof theSvendsenBenevolentFundis topromotehealth,well-beingandmentalfitnessby funding theaccommodationchargesofrespitebreaksforqualifyingmembersseekingtode-stress,rehabilitateor just needingtime away.As thesehealthissuescan affectanyoneandare no respecterof rankor status,the SBF is opentoall,irrespectiveofrankorlengthofservice.Thelengthofrespitebreakswouldnormallybeupto a week, althoughlonger stays will be consideredon a case-by-casebasis.It would be unusualfor more than one SBF-funded respite break to be authorised for applicants each year ``` ``` continued... ``` ``` Page 23 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 ``` ## **`18. MOVEMENT IN FUNDS - continued`** ``` Theconceptof theNew PurposeFundis broad-ranging,andincludes,butnotlimitedtotheseven recognised charitableeffects outlined in the Army Charities Policy: "benevolence and relief of hardship;welfare, health and wellbeing;strengtheningespritde corps;employment,educationand training;sport and Adventurous Training (AT)[1][2];preservingandpresentingheritage;andengagingandinspiringyoungpeople."TheNPFwill enable ICAtofundsomepreviouslyunfundedwelfareareas,andenableincreasedfundinglevelstothosealready in place. ``` ## **`Transfers between funds`** ``` Duringtheperiod,a transferfromtheprizetothegeneralfundhasbeenagreedbythetrusteesasitwas felt necessary in order to correctly state the fund balances reported at the end of the period. ``` ## **`19. RELATED PARTY DISCLOSURES`** ## **`The Military Intelligence Museum`** ``` Duringtheyearthecharitypaidgrantsof£7,500totheMilitaryIntelligenceMuseumforthepurpose of educating the public in the role, history, traditions, customs and ethos of the corps. ``` ``` Page 24 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022`** |**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations`
`Legacies`
`Grants`
`One days pay`
`Regional income`
`Intangible income - wages and salaries`
`Intangible income - rent, heat and light`
**`Other trading activities`**
`Shop income`
**`Investment income`**
`Dividends`
`Deposit account interest`
**`Other income`**
`Postage and packing`
`Corps day`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Other trading activities`**
`Opening stock`
`Purchases`
`Closing stock`
**`Investment management costs`**
`Portfolio management`
**`Charitable activities`**
`Wages`
`Carried forward`|`2022`
`£`
`48,651`
`3,250`
`20,000`
`274,597`
`990`
`20,000`
`1,750`
`369,238`
`35,700`
`77,218`
`247`
`77,465`
`-`
`7,840`
`7,840`
`490,243`
`33,654`
`45,052`
`(40,434)`
`38,272`
`18,981`
`20,000`
`20,000`|`2021`
`£`
`65,300`
`108,000`
`20,992`
`271,150`
`1,506`
`20,000`
`1,750`
`488,698`
`29,659`
`78,453`
`29`
`78,482`
`2,339`
`-`
`2,339`
`599,178`
`45,029`
`28,517`
`(33,654)`
`39,892`
`17,387`
`20,000`
`20,000`| |---|---|---| ``` This page does not form part of the statutory financial statements ``` ``` Page 25 ``` ``` INTELLIGENCE CORPS ASSOCIATION ``` ## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022`** |**`Charitable activities`**
`Brought forward`
`Insurance`
`Postage and stationery`
`Sundries`
`Regional expenses`
`Staff costs`
`Intelligencer prize costs`
`ICAREC costs`
`Parritt prize costs`
`Journal costs`
`Functions`
`Presentations`
`Other property expenses`
`Funeral costs`
`Memorials`
`Donations`
`Welfare travel`
`80th Anniversary`
`Bank charges`
`Exchange rate variances`
`Plant and machinery`
`Grants`
**`Support costs`**
**`Information technology`**
`Website costs (inc SCRM)`
**`Governance costs`**
`Independent examiner's`
`IE non-IE work`
`Corps governance`
`Total resources expended`
**`Net (expenditure)/income before gains and`**
**`losses`**
**`Realised recognised gains and losses`**
`Net gains/(losses) on investments`
**`Net (expenditure)/income`**|`2022`
`£`
`20,000`
`886`
`5,049`
`2,336`
`11,647`
`4,192`
`-`
`1,937`
`-`
`21,248`
`65,999`
`771`
`2,542`
`6,498`
`10,500`
`5,000`
`13,495`
`3,470`
`413`
`(75)`
`270`
`263,802`
`439,980`
`6,888`
`1,944`
`5,846`
`7,494`
`15,284`
`519,405`
`(29,162)`
`(346,625)`
`(375,787)`|`2021`
`£`
`20,000`
`886`
`2,504`
`1,289`
`5,664`
`8,997`
`250`
`1,081`
`250`
`16,037`
`85,114`
`1,211`
`2,204`
`-`
`2,230`
`-`
`7,031`
`-`
`702`
`452`
`422`
`153,510`| |---|---|---| |||`309,834`
`6,757`
`1,710`
`5,300`
`3,122`| |||`10,132`| |||`384,002`| |||`215,176`
`392,100`| |||`607,276`| ``` This page does not form part of the statutory financial statements ``` ``` Page 26 ```