Charity Registration No. 1176669 Company Registration No. CE012923 (England and Wales)
FRIENDS OF THE TENTH
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
SOMERBYS LIMITED CHARTERED ACCOUNTANTS 30 NELSON STREET LEICESTER LE1 7BA
FRIENDS OF THE TENTH
CONTENTS
| Page | |
|---|---|
| Information | 1 |
| Report of the Board of Trustees | 2 |
| Accountant’s Report | 3 |
| Statement of Financial Activities | 4 - 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 - 8 |
| Detailed Statement of Financial Activities | 9 |
FRIENDS OF THE TENTH
1
INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE012923 (England and Wales)
Registered Charity number
1176669
Registered office
Hemploe View The Belt South Kilworth Lutterworth Leicestershire LE17 6DX
Trustees
A J Wilson (Chair) Mrs J Holland T F S Hall-Wilson G S Warner
Accountants
A M West FCA Somerbys Limited 30 Nelson Street Leicester LE1 7BA
FRIENDS OF THE TENTH
2
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024
The trustees who are also the directors of the charity for the purposes of the Companies Act 2006, present their report and financial statements of the charity for the year ended 31 January 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
OBJECTIVE AND ACTIVITIES
Objectives and aims
Friends of the Tenth’s main objective is to promote good citizenship amongst the public and to promote the efficiency of the armed forces of the Crown by providing and maintaining a public memorial in Somerby Parishes, Leicestershire to 10[th] Battalion The Parachute Regiment, which commemorates and remembers those who lost their lives or suffered serious injury or put themselves at risk of loss of life or serious injury during conflict in the service of the country during World War 2.
To advance education for the public benefit in the history, deeds and traditions of British airborne forces, in particular 10[th] Battalion The Parachute Regiment, including by providing a public website containing information and funding educational visits to battlefields, museums and monuments.
The work of the charity Trust fully reflects the purpose that the charity was set up to further.
Public benefit
The trustees have confirmed that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and in planning future activities.
FINANCIAL REVIEW
Investment policy and objectives
The charity does not hold significant funds and, therefore, the trustees consider it appropriate to keep all of the funds in a bank current account. The trustees are satisfied with the activities during the year and at the position at the year end.
Reserves policy
It is the policy of the charity that all funds received are used in furtherance of the charity’s objectives. It is not the intention to build up a significant reserve of funds. The charity ensures that all opportunities to provide assistance in line with its aims are carefully assessed and evaluated in relation to the funds at its disposal.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The trustees were selected for their experience, skills and contacts in a variety of areas. Power to appoint new trustees lies with the Board of Trustees.
Approved by order of the board of trustees on ……………….. and signed on its behalf by:
A J Wilson Trustee
FRIENDS OF THE TENTH
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ACCOUNTANT’S REPORT TO THE TRUSTEES ON THE FINANCIAL STATEMENTS OF FRIENDS OF THE TENTH FOR THE YEAR ENDED 31 JANUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006 and Charities Act 2011, we have prepared for your approval the financial statements of Friends of the Tenth for the year ended 31 January 2024 set out on pages 4 to 8 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Trustees of Friends of the Tenth, as a body, in accordance with the terms of our engagement letter dated 2 September 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Friends of the Tenth and state those matters that we have agreed to state to the Board of Trustees of Friends of the Tenth, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Friends of the Tenth and its Board of Trustees as a body, for our work or for this report.
It is your duty to ensure that Friends of the Tenth has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Friends of the Tenth. You consider that Friends of the Tenth is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Friends of the Tenth. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Somerbys Limited Chartered Accountants
…………………..
30 Nelson Street Leicester LE1 7BA
FRIENDS OF THE TENTH
4
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 JANUARY 2024
| Current financial year Notes Income and Endowments from Donations and legacies Other trading activities 2 Expenditure Raising funds Charitable activities Charitable Total Surplus of income over expenditure Total funds brought forward Total funds carried forward |
Unrestricted fund 2024 £ 12,943 9,963 22,906 12,026 3,006 15,032 7,874 27,718 35,592 |
Restricted fund 2024 £ - - - - - - - - - |
Total funds 2024 £ 12,943 9,963 |
|---|---|---|---|
| 22,906 12,026 3,006 |
|||
| 15,032 | |||
| 7,874 | |||
| 27,718 | |||
| 35,592 |
FRIENDS OF THE TENTH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 JANUARY 2024
5
| Previous financial year Notes Income and Endowments from Donations and legacies Other trading activities 2 Expenditure Raising funds Charitable activities Charitable Total Deficit of income over expenditure Total funds brought forward Total funds carried forward |
Unrestricted fund 2023 £ 2,931 3,176 6,107 9,581 1,576 11,157 (5,050) 32,768 27,718 |
Restricted fund 2023 £ - - - - - - - - - |
Total funds 2023 £ 2,931 3,176 |
|---|---|---|---|
| 6,107 9,581 1,576 |
|||
| 11,157 | |||
| (5,050) | |||
| 32,768 | |||
| 27,718 |
6
FRIENDS OF THE TENTH
BALANCE SHEET AT 31 JANUARY 2024
| Notes Current assets Donated assets Stocks 5 Prepayments Cash at bank Current assets Current liabilities Net assets Funds Unrestricted funds 6 Total funds |
Unrestricted fund £ 1,500 5,651 1,030 28,221 36,402 36,402 (810) 35,592 35,592 35,592 |
Restricted fund £ - - - - - - - - - - |
Total funds 2024 £ 1,500 5,651 1,030 28,221 36,402 36,402 (810) 35,592 35,592 35,592 |
Total funds 2023 £ 1,500 6,200 708 20,120 |
|---|---|---|---|---|
| 28,528 | ||||
| 28,528 | ||||
| (810) | ||||
| 27,718 | ||||
| 27,718 | ||||
| 27,718 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
a) ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and
-
b) preparing financial statement which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime.
The financial statements were approved by the Board of Trustees on ……………….. and were signed on its behalf by:
A J Wilson (Trustee)
FRIENDS OF THE TENTH
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The accounts have been prepared in accordance with the charity’s governing document, the Companies Act 2006 and ‘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) as amended for accounting periods commencing from 1 January 2016. The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have been prepared under the historical cost convention.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon and there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under heading that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can be used for particular restricted purposes with the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposed.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Sales | 9,963 | 3,176 |
3. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees; remuneration or other benefits for the year ended 31 January 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 January 2024.
FRIENDS OF THE TENTH
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024
4. DONATED ASSETS
| Painting 5. STOCKS Stocks 6. MOVEMENT IN FUNDS Current financial year Unrestricted funds General fund Total funds Previous financial year Unrestricted funds General fund Total funds |
At 1 February 2023 £ 27,718 27,718 At 1 February 2022 £ 32,768 32,768 |
Incoming resources £ 22,906 22,906 Incoming resources £ 6,107 6,107 |
2024 2023 £ £ 1,500 1,500 2024 2023 £ £ 5,651 6,200 Resources expended At 31 January 2024 £ £ (15,032) 35,592 (15,032) 35,592 Resources expended At 31 January 2023 £ £ (11,157) 27,718 (11,157) 27,718 |
2024 2023 £ £ 1,500 1,500 2024 2023 £ £ 5,651 6,200 Resources expended At 31 January 2024 £ £ (15,032) 35,592 (15,032) 35,592 Resources expended At 31 January 2023 £ £ (11,157) 27,718 (11,157) 27,718 |
|---|---|---|---|---|
| 35,592 | ||||
| At 31 January 2023 £ 27,718 |
||||
| 27,718 |
7. RELATED PARTY DISCLOSURES
The Trustees commissioned a book called “Arnhem: Eight Days to Oblivion” in order to advance education for the public benefit. A trustee, Mr G Warner, was commissioned by the Trustees to author the book.
Initially, it was agreed that both the Charity and Mr G Warner would benefit from the future profits on publication with 75% accruing to the Charity and 25% to Mr G Warner. On 7 April 2023, Mr G Warner advised the Trustees that he no longer wished to financially benefit from the publication and therefore, all book proceeds will pass to the Friends of the Tenth in their entirety.
The trustees of the Charity have waived all TV, Film and Media rights, so that Mr G Warner will benefit from these in their entirety.
Note all conflicts of interest have been declared and it should be noted that Mr G Warner did not participate in any decision making in respect of the contract or in respect of setting the terms and conditions of the contract.
FRIENDS OF THE TENTH
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DETAILED STATEMENT OF FINANICAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024
| Note INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Sales Total incoming resources EXPENDITURE Raising donations and legacies Insurance Donation charges Merchandise Printing, postage and stationery Accountancy Other costs Film/book expenditure Office costs Internet costs Charitable activities Artist/sculpture costs/landscaping costs Victor Gregg’s funeral costs Donation Total resources expended Surplus/(deficit) of income over expenditure |
31 January 2024 £ 12,943 9,963 22,906 445 293 6,222 1,461 810 1,100 - 97 1,598 12,026 626 - 2,380 3,006 15,032 7,874 |
31 January 2023 £ 2,931 3,176 |
|---|---|---|
| 6,107 445 89 2,844 1,084 810 1,864 814 122 1,509 |
||
| 9,581 - 1,026 550 |
||
| 1,576 | ||
| 11,157 | ||
| (5,050) |