**Charity registration number 1177359**
## **HEADQUARTERS VOLUNTEER CADET CORPS**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** J Strong A Hearn G G Fletcher G Langworhty **Charity number** 1177359 **Principal address** RN Cadet Forces Training Centre Building 175 HMS Excellent Whale Island Portsmouth United Kingdom PO2 8ER **Independent examiner** Sedulo London Limited Office 605 Albert House 256 - 260 Old Street London United Kingdom EC1V 9DD
(Appointed 12 February 2024) (Appointed 30 April 2024)
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 17|
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 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)".
## **Objectives and activities**
Our charitable objective, as set out in our constitution, is:
- To help and educate children between the ages of 9 and 18 years through their leisure time activities, so as to develop their physical, mental and spiritual capacities, that they might grow to full maturity as adults and members of society and that their conditions of life may be improved, employing the traditions of and practices of the Royal Navy and Royal Marines to achieve this.
Our vision is to:
- Offer an inclusive, supportive, and safe environment in which our cadets and adult volunteers can thrive and unlock their potential.
## _Public benefit_
Public benefit is provided by the development of the physical, mental, and social capacities of young people through their activities as cadets.
The trustees have referred to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in planning its current and future activities.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance as stated above.
## _Activities_
The charity undertakes a range of activities to deliver public benefit in accordance with its purposes. This includes indoor and outdoor instruction in a range of activities from our uniformed instructing staff - including naval general training, command, musical, and display team training. In addition, we offer swimming, marksmanship, sports competitions, fieldcraft and the Duke of Edinburgh Award.
HQVCC acts as an umbrella for all our constituent units and facilitates and enables the delivery of our organisational wide purposes and objectives.
## **Achievements and performance**
## _2023-24_
The charity offered a full schedule of activities for the year across all areas culminating in a VCC-wide summer camp held in West Wales. Our Duke of Edinburgh training continues and our enrolments and retention of cadets and staff has held steady.
## **Financial review**
The charity's income for the year ended 31st March 2024 totalled £170,145 (2023: £128,988) against expenditure of £110,988 (2023: £102,543) leading to a surplus of £59,157 (2023: £26,445).
Funds carried forward into 2024-25 amount to £177,903 (2023: £118,746) of which £23,683 is restricted (2023: £13,591) and £154,220 is unrestricted (2023: £105,155).
- 1 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## _Reserves policy_
The charity is focused on holding sufficient financial reserves to manage the impact of the discontinuation of the federated adventurous training grant in 2024/2025 and the need to fund ongoing activity associated with the summer camp and other adventurous training.
Additionally, per the plans described below, the charity is likely to see substantial growth in the coming decade. While grant funding contributes to the delivery of its core activities, the charity is also required to provide additional start up funds, currently amounting to £5,000, to each new unit. Given the number of new units being proposed as part of this expansion - up to 17 across the coming decade - the trustees consider it prudent to hold a high level of funds in reserves to enable these plans to go ahead even if direct grant funding is unavailable and aim to hold at least a full year's expenditure in reserve. The trustees will also consider if there is a need to designate funds for start-up purposes in future financial periods.
Unrestricted funds less the value of unrestricted fixed assets and stock held at 31st March 2024 amounted to £124,997, representing 13.5 months of expenditure at current levels. The trustees are therefore satisfied that sufficient reserves are available and that current levels, while high, are suitable given the charity's future plans.
## _Principal funding sources_
The Volunteer Cadet Corps is currently part funded by the Royal Navy through a Memorandum of Agreement under which annual capitation grants are disbursed to Headquarters Volunteer Cadet Corps to contribute to the cost of the VCC's core activities. These grants are supplemented by the donations and grant income from trusts to ensure that the HQVCC has the capacity to facilitate a full range of cadet activities for the VCC units. The trustees are confident that this funding arrangement continues to be sustainable and that grant funding from the Royal Navy will be available for the 2024-25 year and beyond.
## **Plans for future periods**
There are ambitious plans to expand the size and geographical scope of the VCC's activities in the coming decade under proposals to grow the number of individual cadet units. Up to 17 different potential units are being considered at Royal Navy and Royal Marines sites across the UK.
The VCC is changing its charitable structure and will convert to a charitable incorporated organisation and bring all its local units together into one charity. This change will free out volunteers to focus on the cadet experience. The trustees consider that these plans would constitute a substantial expansion of the HQVCC's charitable activities and significantly increase the number of young people benefiting from the charity, allowing the charity to continue delivering on its core objectives.
## **Structure, governance and management**
The charity is controlled by its governing document, a constitution and constitutes an unincorporated charity.
The trustees who served during the year and up to the date of signature of the financial statements were:
C R Spratt (Resigned 31 March 2024) J Strong L K Colpitts (Resigned 30 June 2024) A Hearn G G Fletcher (Appointed 12 February 2024) G Langworhty (Appointed 30 April 2024)
- 2 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
The trustees' report was approved by the Board of Trustees.
Adam Hearn .............................. A Hearn **Chair** 13/01/2025 Date: .............................................
- 3 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF HEADQUARTERS VOLUNTEER CADET CORPS**
I report to the trustees on my examination of the financial statements of Headquarters Volunteer Cadet Corps (the charity) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Emma Houghton FCCA
## **Sedulo London Limited**
Office 605 Albert House 256 - 260 Old Street London
EC1V 9DD United Kingdom
27 January 2025 Dated: .........................
- 4 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
52,124
90,500
Charitable activities
General Cadet Activities
**3**
5,141
-
Summer Camp
**3**
20,760
-
Duke of Edinburgh
**3**
1,150
-
Investments
**4**
470
-
**Total income**
79,645
90,500
**Expenditure on:**
Charitable activities
General Cadet Activities
**5**
22,668
56,531
Summer Camp
**5**
3,153
23,710
Duke of Edinburgh
**5**
4,759
167
**Total expenditure**
30,580
80,408
**Net income**
49,065
10,092
Transfers between funds
-
-
**Net movement in funds**
**8**
49,065
10,092
**Reconciliation of funds:**
Fund balances at 1 April 2023
105,155
13,591
**Fund balances at 31 March 2024**
154,220
23,683|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
142,624
36,883
71,766
5,141
772
-
20,760
18,820
-
1,150
575
-
470
172
-
170,145
57,222
71,766
79,199
21,549
44,728
26,863
3,328
24,657
4,926
8,067
214
110,988
32,944
69,599
59,157
24,278
2,167
-
10,856
(10,856)
59,157
35,134
(8,689)
118,746
70,021
22,280
177,903
105,155
13,591|**Total**
**2023**
**£**
108,649
-
772
18,820
575
172|
|---|---|---|
|||128,988|
|||66,277
27,985
8,281|
|||102,543|
|||26,445
-|
|||26,445
92,301|
|||118,746|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|**Notes**
**Fixed assets**
Tangible assets
**12**
**Current assets**
Stocks
**13**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**15**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Restricted funds
**16**
Unrestricted funds
**17**|**2024**
**£**
17,423
10,777
140,662
168,862
(2,759)|**£**
11,800
166,103
177,903
23,683
154,220
177,903|**2023**
**£**
6,187
3,473
99,574
109,234
(4,890)|**£**
14,402
104,344|
|---|---|---|---|---|
|||||118,746|
|||||13,591
105,155|
|||||118,746|
13/01/2025 The financial statements were approved by the trustees on .........................
Adam Hearn .............................. A Hearn **Chair**
- 6 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
Headquarters Volunteer Cadet Corps constitutes an unincorporated charity.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
- 7 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
**(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 25% straight line Fixtures and fittings 25% straight line Computers 25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Stocks**
Stocks are valued at cost and represent the value of uniforms and badges purchased by the charity for distribution to cadets but yet to be issued and so held in inventory.
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 8 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **2 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
3,135
-
Grants
48,989
90,500
52,124
90,500|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
3,135
279
-
139,489
36,604
71,766
142,624
36,883
71,766|**Total**
**2023**
**£**
279
108,370|
|---|---|---|
|||108,649|
- 9 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**3**|**Income from charitable activities**|||
|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2024**|**2023**|
|||**£**|**£**|
||**General Cadet Activities**|||
||Mess Dinner Tickets|-|(192)|
||Sales of Uniforms, Badges & Other Items|-|250|
||Activity Fees from Units|5,141|714|
||**Summer Camp**|||
||Summer Camp|20,760|18,820|
||**Duke of Edinburgh**|||
||Duke of Edinburgh Payments|1,150|575|
|||27,051|20,167|
|**4**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2024**|**2023**|
|||**£**|**£**|
||Interest receivable|470|172|
- 10 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **5 Expenditure on charitable activities**
|**General Cadet**
**Activities**
**2024**
**£**
**Direct costs**
Uniform & Badges
3,529
Events
2,037
Welfare
1,464
Travel & Meetings
10,682
Band Instruction
-
DBS Checks
1,001
Expenditure on Units
1,835
Equipment for Activities
9,025
Membership & Subscription Fees
-
Training Materials
-
Activity Costs
29,747
59,320
Grant funding of activities (see note 6)
7,900
**Share of support and governance costs (see note 7)**
Support
9,453
Governance
2,526
79,199|**Summer**
**Camp**
**Duke of**
**Edinburgh**
**2024**
**2024**
**£**
**£**
-
-
-
-
-
-
4,177
67
-
-
-
-
-
-
3,313
-
-
2,871
-
1,074
15,310
169
22,800
4,181
-
-
3,206
588
857
157
26,863
4,926|**Total**
**General Cadet**
**Activities**
**2024**
**2023**
**£**
**£**
3,529
5,931
2,037
3,372
1,464
1,223
14,926
4,833
-
2,363
1,001
756
1,835
25,874
12,338
4,586
2,871
-
1,074
-
45,226
5,611
86,301
54,549
7,900
5,041
13,247
5,490
3,540
1,197
110,988
66,277|**Summer**
**Camp**
**Duke of**
**Edinburgh**
**2023**
**2023**
**£**
**£**
-
-
(250)
-
-
-
211
847
-
-
-
-
-
-
4,292
3,320
-
2,580
-
768
21,131
-
25,384
7,515
-
-
2,135
629
466
137
27,985
8,281|**Total**
**2023**
**£**
5,931
3,122
1,223
5,891
2,363
756
25,874
12,198
2,580
768
26,742|
|---|---|---|---|---|
|||||87,448
5,041
8,254
1,800|
|||||102,543|
- 11 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Expenditure on charitable activities**
**Analysis by fund**
Unrestricted funds
Restricted funds|22,668
56,531
79,199|3,153
23,710
26,863|4,759
167
4,926|30,580
80,408
110,988|21,549
44,728
66,277|3,328
24,657
27,985|**(Continued)**
8,067
32,944
214
69,599
8,281
102,543|**(Continued)**
8,067
32,944
214
69,599
8,281
102,543|
|---|---|---|---|---|---|---|---|---|
|||||||||102,543|
## **5 Expenditure on charitable activities**
- 12 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **6 Grants payable**
Grants payable consist of funds regranted to individual VCC units by HQ in order to fund their cadet activities.
## **7 Support costs allocated to activities**
|Depreciation
Repairs & Maintenance
Insurance
Office Expenses
Gifts & Awards
Advertising & Marketing
Training
Governance costs
**Analysed between:**
General Cadet Activities
Summer Camp
Duke of Edinburgh
**8**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
Depreciation of owned tangible fixed assets
Loss on disposal of tangible fixed assets|**2024**
**£**
4,048
-
3,491
2,324
539
-
2,845
3,540
16,787
11,979
4,063
745
16,787
**2024**
**£**
1,800
4,048
-|**2023**
**£**
1,542
2,800
2,212
1,473
136
91
-
1,800|
|---|---|---|
|||10,054|
|||6,687
2,601
766|
|||10,054|
|||**2023**
**£**
1,800
603
939|
## **9 Trustees**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
Expenses totalling £2,012 were paid to 4 trustees in the year ended 31 March 2024 in relation to their operational activities as volunteer officers of the HQVCC (2023: £1,636 paid to 4 trustees).
No expenses were paid to trustees in respect of their duties as trustees in the year ended 31 March 2024 nor the year ended 31 March 2023.
- 13 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **10 Employees**
The average monthly number of employees during the year was:
|The average monthly number of employees during the year was:|||
|---|---|---|
||**2024**|**2023**|
||**Number**|**Number**|
|Total|-|-|
|There were no employees whose annual remuneration was more than £60,000.|||
## **11 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **12 Tangible fixed assets**
|**Plant and**
**equipment**
**Fixtures and**
**fittings**
**Computers**
**£**
**£**
**£**
**Cost**
At 1 April 2023
14,695
-
350
Additions
840
606
-
At 31 March 2024
15,535
606
350
**Depreciation and impairment**
At 1 April 2023
541
-
102
Depreciation charged in the year
3,884
76
88
At 31 March 2024
4,425
76
190
**Carrying amount**
At 31 March 2024
11,110
530
160
At 31 March 2023
14,154
-
248
**13**
**Stocks**
**2024**
**£**
Uniform Stock
17,423|**Total**
**£**
15,045
1,446|
|---|---|
||16,491|
||643
4,048|
||4,691|
||11,800|
||14,402|
||**2023**
**£**
6,187|
- 14 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **14 Debtors**
|**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2024**
**£**
8,382
48
2,347
10,777|**2023**
**£**
752
250
2,471|
|||3,473|
## **15 Creditors: amounts falling due within one year**
|Trade creditors
Other creditors
Accruals and deferred income|**2024**
**£**
959
-
1,800
2,759|**2023**
**£**
1,290
1,800
1,800|
|---|---|---|
|||4,890|
## **16 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At**|**1 April 2023**|**Incoming**|**Resources**|**Transfers**|**At**|**31 March**|
|---|---|---|---|---|---|---|---|
||||**resources**|**expended**|||**2024**|
|||**£**|**£**|**£**|**£**||**£**|
|Connaught Grant - Air Rifles||13,591|-|(7,588)|-||6,003|
|Connaught Grant - Jerboa||-|1,500|(1,500)|-||-|
|Greenwich Hospital - Cyprus||-|4,000|(4,000)|-||-|
|MOD - Adventurous Training||-|85,000|(67,320)|-||17,680|
|||13,591|90,500|(80,408)|-||23,683|
- 15 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**16**|**Restricted funds**||||||**(Continued)**|**(Continued)**|
|---|---|---|---|---|---|---|---|---|
||**Previous year:**|**At**|**1 April 2022**|**Incoming**|**Resources**|**Transfers**|**At**|**31 March**|
|||||**resources**|**expended**|||**2023**|
||||**£**|**£**|**£**|**£**||**£**|
||Connaught Grant - Air Rifles||18,000|-|(4,409)|-||13,591|
||Connaught Grant - Field Gun||||||||
||Repair||2,880|(80)|(2,800)|-||-|
||Connaught Grant - Radios||1,400|-|-|(1,400)||-|
||Connaught Grant - Carol Concert||-|1,000|(1,000)|-||-|
||Connaught Grant - Summer Camp||-|5,000|(5,000)|-||-|
||MOD - Adventurous Training||-|65,846|(56,390)|(9,456)||-|
||||22,280|71,766|69,599|(10,856)||13,591|
## **17 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April 2023**|**At 1 April 2023**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|---|---|---|---|---|---|---|
||||**resources**|**expended**||**2024**|
|||**£**|**£**|**£**|**£**|**£**|
|General funds||105,155|79,645|(30,580)|-|154,220|
|**Previous year:**|**At 1 April 2022**||**Incoming**|**Resources**|**Transfers**|**At 31 March**|
||||**resources**|**expended**||**2023**|
|||**£**|**£**|**£**|**£**|**£**|
|General funds||70,021|57,222|(32,944)|10,856|105,155|
|**Analysis of net assets between**|**funds**||||||
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2024**|**2024**|**2024**|
|||||**£**|**£**|**£**|
|**At 31 March 2024:**|||||||
|Tangible assets||||11,800|-|11,800|
|Current assets/(liabilities)||||142,420|23,683|166,103|
|||||154,220|23,683|177,903|
## **18 Analysis of net assets between funds**
- 16 -
## **HEADQUARTERS VOLUNTEER CADET CORPS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**18**|**Analysis of net assets between funds**|||**(Continued)**|
|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|
|||**funds**|**funds**||
|||**2023**|**2023**|**2023**|
|||**£**|**£**|**£**|
||**At 31 March 2023:**||||
||Tangible assets|14,402|-|14,402|
||Current assets/(liabilities)|90,753|13,591|104,344|
|||105,155|13,591|118,746|
## **19 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
- 17 -