Charity registration number 1177359
HEADQUARTERS VOLUNTEER CADET CORPS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
HEADQUARTERS VOLUNTEER CADET CORPS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees J Strong G Langworthy R Piner L K Colpitts Charity number 1177359 Principal address Cockerell Building HMS Sultan Gosport United Kingdom PO12 3BY
Sedulo London Limited Office 605 Albert House 256 - 260 Old Street London United Kingdom EC1V 9DD
Independent examiner
(Appointed 30 April 2024) (Appointed 6 August 2025) (Appointed 6 August 2025)
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 - 16 |
HEADQUARTERS VOLUNTEER CADET CORPS
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
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
2024-25
In line with its charitable objects, the charity continued to provide a structured programme of cadet training and development activities throughout the year. This included routine unit activity, summer camps for our Royal Navy and Royal Marines cadets, and ongoing delivery of the Duke of Edinburgh’s Award programme. Cadet numbers and adult volunteer engagement remained broadly consistent with previous years.
Financial review
The charity's income for the year ended 31st March 2025 totalled £79,852 (2024: £170,145) against expenditure of £67,050 (2024: £110,988) leading to a surplus of £12,802 (2024: £59,157).
Funds carried forward into 2025-26 amount to £190,705 (2024: £177,903) of which £9,433 is restricted (2024: £23,683) and £181,272 is unrestricted (2024: £154,220).
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HEADQUARTERS VOLUNTEER CADET CORPS
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Reserves policy
The charity is focused on holding sufficient financial reserves to manage the impact of the discontinuation of the federated adventurous training grant 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 and will need to facilitate the process of consolidating the VCC in a new legal structure. 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 costs involved in this expansion and restructure 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 2025 amounted to £156,164, representing approximately 2 years of expenditure at current levels (excluding additional expenditure on unit start ups) . 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 2025-26 year and beyond.
Plans for future periods
There are 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. At the time of this report, the Band of the Royal Marines Volunteer Cadet Corps (Scotland) is being set up at HMS Caledonia and a new London-based unit is being considered.
The VCC is changing its structure to bring all its local units together into one charity and will convert to a charitable incorporated organisation. 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 (adopted on 21 February 2018 and amended on 20 May 2021 and 2 May 2024), and constitutes an unincorporated charity.
The trustees who served during the year and up to the date of signature of the financial statements were:
| The trustees who served during the | year and up to the date of signature of the financial s |
|---|---|
| J Strong | |
| A Hearn | (Resigned 19 September 2025) |
| G G Fletcher | (Resigned 24 March 2025) |
| G Langworthy | (Appointed 30 April 2024) |
| R Piner | (Appointed 6 August 2025) |
| L K Colpitts | (Appointed 6 August 2025) |
L K Colpitts previously also served as a trustee between 10 November 2020 and 30 June 2024.
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HEADQUARTERS VOLUNTEER CADET CORPS
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The trustees' report was approved by the Board of Trustees.
R Piner Chair
27 January 2026
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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 2025.
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.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 Charities Act 2011.
-
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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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
Dated: 30 January 2026
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HEADQUARTERS VOLUNTEER CADET CORPS
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted Restricted funds funds 2025 2025 Notes £ £ Income from: Donations and legacies 2 55,124 5,000 Charitable activities General Cadet Activities 3 854 - Summer Camp 3 18,240 - Duke of Edinburgh 3 225 - Investments 4 409 - Total income 74,852 5,000 Expenditure on: Charitable activities General Cadet Activities 5 40,563 3,351 Summer Camp 5 12,893 5,097 Duke of Edinburgh 5 5,127 19 Total expenditure 58,583 8,467 Net income/(expenditure) 16,269 (3,467) Transfers between funds 10,783 (10,783) Net movement in funds 8 27,052 (14,250) Reconciliation of funds: Fund balances at 1 April 2024 154,220 23,683 Fund balances at 31 March 2025 181,272 9,433 |
Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 60,124 52,124 90,500 854 5,141 - 18,240 20,760 - 225 1,150 - 409 470 - 79,852 79,645 90,500 43,914 22,668 56,531 17,990 3,153 23,710 5,146 4,759 167 67,050 30,580 80,408 12,802 49,065 10,092 - - - 12,802 49,065 10,092 177,903 105,155 13,591 190,705 154,220 23,683 |
Total 2024 £ 142,624 - 5,141 20,760 1,150 470 |
|---|---|---|
| 170,145 | ||
| 79,199 26,863 4,926 |
||
| 110,988 | ||
| 59,157 - |
||
| 59,157 118,746 |
||
| 177,903 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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HEADQUARTERS VOLUNTEER CADET CORPS
BALANCE SHEET
AS AT 31 MARCH 2025
| Notes Fixed assets Tangible assets 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities The funds of the charity Restricted funds 15 Unrestricted funds 16 |
2025 £ 6,764 5,276 162,419 174,459 (2,098) |
£ 18,344 172,361 190,705 9,433 181,272 190,705 |
2024 £ 17,423 10,777 140,662 168,862 (2,759) |
£ 11,800 166,103 |
|---|---|---|---|---|
| 177,903 | ||||
| 23,683 154,220 |
||||
| 177,903 |
The financial statements were approved by the trustees on 27 January 2026
R Piner Chair
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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.
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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.
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
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 2025 2025 £ £ Donations and gifts 2,850 - Grants 52,274 5,000 55,124 5,000 |
Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 2,850 3,135 - 57,274 48,989 90,500 60,124 52,124 90,500 |
Total 2024 £ 3,135 139,489 |
|---|---|---|
| 142,624 |
3 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| General Cadet Activities | ||
| Activity Fees from Units | 497 | 5,141 |
| Other income | 357 | - |
| Summer Camp | ||
| Summer Camp Payments | 18,240 | 20,760 |
| Duke of Edinburgh | ||
| Duke of Edinburgh Payments | 225 | 1,150 |
| 19,319 | 27,051 |
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Interest receivable | 409 | 470 |
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5 Expenditure on charitable activities
| General Cadet Activities 2025 £ Direct costs Uniform & Badges 16,347 Events 2,485 Welfare 1,259 Travel & Meetings 6,165 DBS Checks 842 Expenditure on Units 800 Equipment for Activities 1,621 Membership & Subscription Fees - Training Materials - Activity Costs 1,373 30,892 Grant funding of activities (see note 6) 1,350 Share of support and governance costs (see note 7) Support 8,278 Governance 3,394 43,914 |
Summer Camp Duke of Edinburgh 2025 2025 £ £ - - - - - - 1,318 30 - - - - 361 - - 2,915 - - 11,529 833 13,208 3,778 - - 3,391 970 1,391 398 17,990 5,146 |
Total General Cadet Activities 2025 2024 £ £ 16,347 3,529 2,485 2,037 1,259 1,464 7,513 10,682 842 1,001 800 1,835 1,982 9,025 2,915 - - - 13,735 29,747 47,878 59,320 1,350 7,900 12,639 9,453 5,183 2,526 67,050 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 2024 £ 3,529 2,037 1,464 14,926 1,001 1,835 12,338 2,871 1,074 45,226 |
|---|---|---|---|---|
| 86,301 7,900 13,247 3,540 |
||||
| 110,988 |
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
| Expenditure on charitable activities Analysis by fund Unrestricted funds Restricted funds |
40,563 3,351 43,914 |
12,893 5,097 17,990 |
5,127 19 5,146 |
58,583 8,467 67,050 |
22,668 56,531 79,199 |
3,153 23,710 26,863 |
(Continued) 4,759 30,580 167 80,408 4,926 110,988 |
(Continued) 4,759 30,580 167 80,408 4,926 110,988 |
|---|---|---|---|---|---|---|---|---|
| 110,988 |
-
5 Expenditure on charitable activities
-
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
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 Insurance Office Expenses Gifts & Awards Training Marketing Bank & Transaction fees 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 |
2025 £ 6,106 1,736 2,192 1,071 1,301 226 6 5,184 17,822 11,672 4,782 1,368 17,822 2025 £ 1,800 6,106 |
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 |
9 Trustees
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
Expenses totalling £1,949 were paid to 2 trustees in the year ended 31 March 2025 in relation to their operational activities as volunteer officers of the HQVCC (2025: £2,012 paid to 4 trustees).
No expenses were paid to trustees in respect of their duties as trustees in the year ended 31 March 2025 nor the year ended 31 March 2024.
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Tangible fixed assets
| Plant and equipment Fixtures and fittings £ £ Cost At 1 April 2024 15,535 606 Additions 11,483 - At 31 March 2025 27,018 606 Depreciation and impairment At 1 April 2024 4,425 76 Depreciation charged in the year 5,818 152 At 31 March 2025 10,243 228 Carrying amount At 31 March 2025 16,775 378 At 31 March 2024 11,110 530 12 Stocks Uniform Stock 13 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income |
Computers £ 350 1,167 1,517 190 136 326 1,191 160 2025 £ 6,764 2025 £ - 3,090 2,186 5,276 |
Total £ 16,491 12,650 |
|---|---|---|
| 29,141 | ||
| 4,691 6,106 |
||
| 10,797 | ||
| 18,344 | ||
| 11,800 | ||
| 2024 £ 17,423 |
||
| 2024 £ 8,382 48 2,347 |
||
| 10,777 |
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
14 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Trade creditors Accruals and deferred income |
2025 £ - 2,098 2,098 |
2024 £ 959 1,800 |
| 2,759 |
15 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 2024 | Incoming | Resources | Transfers | At | 31 March | |
|---|---|---|---|---|---|---|---|
| resources | expended | 2025 | |||||
| £ | £ | £ | £ | £ | |||
| Connaught Grant - Air Rifles | 6,003 | - | - | (6,003) | - | ||
| Connaught Grant - Summer Camp | - | 5,000 | (5,000) | - | - | ||
| MOD - Adventurous Training | 17,680 | - | (3,467) | (4,780) | 9,433 | ||
| 23,683 | 5,000 | (8,467) | (10,783) | 9,433 | |||
| Previous year: | 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 |
Transfers between funds represent the value of tangible fixed assets moved from restricted to unrestricted funds when assets have been purchased from a restricted fund grant but are held for a general and not a restricted purpose.
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HEADQUARTERS VOLUNTEER CADET CORPS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
16 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 2024 | At 1 April 2024 | Incoming | Resources | Transfers | At 31 March | |
|---|---|---|---|---|---|---|
| resources | expended | 2025 | ||||
| £ | £ | £ | £ | £ | ||
| General funds | 154,220 | 74,852 | (58,583) | 10,783 | 181,272 | |
| Previous year: | At 1 April 2023 | Incoming | Resources | Transfers | At 31 March | |
| resources | expended | 2024 | ||||
| £ | £ | £ | £ | £ | ||
| General funds | 105,155 | 79,645 | (30,580) | - | 154,220 | |
| Analysis of net assets between | funds | |||||
| Unrestricted | Restricted | Total | ||||
| funds | funds | |||||
| 2025 | 2025 | 2025 | ||||
| £ | £ | £ | ||||
| At 31 March 2025: | ||||||
| Tangible assets | 18,344 | - | 18,344 | |||
| Current assets/(liabilities) | 162,928 | 9,433 | 172,361 | |||
| 181,272 | 9,433 | 190,705 | ||||
| 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 |
17 Analysis of net assets between funds
18 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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