**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).
- 1 -
## **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.
- 2 -
## **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
- 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 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
- 4 -
## **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.
- 5 -
## **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**
- 6 -
## **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.
- 7 -
## **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.
- 8 -
## **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|
- 9 -
## **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|
- 10 -
## **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|
- 11 -
## **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**
- 12 -
## **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.
- 13 -
## **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|
- 14 -
## **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.
- 15 -
## **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).
- 16 -