## ## ## ||Page| |---|---| |Trustees'
annual
report|| |Independent
examiner's
report to the trustees|| |Statement offinancial
activities|| |Statement offinancial
position|| |Statement ofcash flows|10| |Notes to the financial statements|| ## ## ## ## ## ## ## ## ## ## |Principal
risks identified as|Principal
risks identified as|at 31|Dec|embe|r||2021 were:||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Risk||||||||Miti ation|||| |Injury or death
during a||challenge||ofa:||||~|All training
and challenges
are meticulously||| |~|Beneficiary or volunteer.||||||||planned
and risk-assessed.||| |~
Third party non-participant.
This risk would
reduce the|||Charity's|||reputation||~|All
training
and
challenges
appropriately
qualified
experts.|are
led|by| |and potentially
lead to financial
liability.||||||||~|All participants
are carefully|screened|and| ||||||||||selected.||| |||||||||~|Adequate
medical cover is provided.||| |||||||||~|Procedures
are
in
place|to
ensure|| ||||||||||compliance
with
health
and safety of staff,||| ||||||||||volunteers,
clients and visitors|to events.|| |Financial
which includes:||||||||~|In the COVID-19 context and|lack of activity|| |~|Not meeting
our income targets;||||||||this risk has not arisen in the current reporting||| |~|Loss or reduction offunding||streams.||||||period.||| |These risks would reduce our capacity||||||to deliver||~|As we move forward
after the|pandemic|we| |our|strategy.||||||||have
set clear
budgets
for|both
income|| ||||||||||generation
and expenditure
which will ensure||| ||||||||||delive
ofob'ectives.||| |Governance
which includes:||||||||~|We have
reviewed
all Charity|policies|and| |~|Lack of compliance|with|legal|and||regulatory|||ensured
all required
are in place.||| ||requirements;|||||||~|We have introduced
a finance|rule book|with| |~|Breach
of data
and/or
iT breach||||by||external||associated
delegations
and
procedures||for| |agents;
These risks
will impact||our operational|||||delivery||authorisation
ofall transactions|and projects.|| |and|increase
regulatory|scrutiny,||both|||of which||||| |will|lm act our abllit
to|deliver our ob'ectlves.|||||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||||Period from| |---|---|---|---|---|---|---|---| ||||||||27 Aug 19to| |||||Year|to 31 Dec|21|31 Dec20| |||||Unrestricted|Restricted||| |||||funds|funds|Total funds|Total funds| ||||Note||||| |Income and endowments|||||||| |Donations
Charitable
activities
Other trading
activities||||1,967||1,967|121,608
60,933
3,443| |Investment
income||||15||15|264| |Total income||||1,982||1,982|186,248| |Expenditure|||||||| |Expenditure
on charitable||activities|8,9|18,272|7,438|25,710|16,430| |Total expenditure||||18,272|7,438|25,710|16,430| |Net (expenditure)/income||and net|||||| |movement
in funds||||(16,290)|(7,438)|(23,728)|169,818| |Reconciliation
offunds|||||||| |Total funds brought|forward|||115,599|54,219|169,818|| |Total funds carried|forward|||99,309|46,781|146,090|169,818| ## ## ## |||||2021|2020| |---|---|---|---|---|---| ||||Note||| |Current assets|||||| |Cash at bank and|in|hand||147,590|171,258| |Creditors: amounts||falling due within one year|14|1,500|1,440| |Net current assets||||146,090|169,818| |Total assets less|current liabilities|||146,090|169,818| |Net assets||||146,090|169,818| |Funds ofthe charity|||||| |Restricted funds||||46,781|54,219| |Unrestricted
funds||||99,309|115,599| |Total charity funds|||15|146,090|169,818| ## ## ## ## |||||2021
f|2020
E| |---|---|---|---|---|---| |Cash flows from operating||activities|||| |Net (expenditure)/income||||(23,728)|169,818| |Adjustments
for:|||||| |Other interest receivable|and similar income|||(15)|(264)| |Interest payable and similar||charges||216|14| |Accrued expenses||||60|1,440| |Cash generated
from operations||||(23,467)|171,008| |Interest paid||||(216)|(14)| |Interest received||||15|264| |Net cash (used in)/from|operating
activities|||(23,668)|171,258| |Net (decrease)/increase|in|cash and cash|equivalents|(23,668)|171,258| |Cash and cash equivalents||at beginning|ofyear|171,258|| |Cash and cash equivalents||at end ofyear||147,590|171,258| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||Unrestricted|Restricted|Total Funds| |---|---|---|---|---|---|---|---|---| |||||||Funds
f|Funds|2021| ||Small Grants|||||||| ||Armed Forces Covenant|||Fund Trust||||| ||HM Treasury||LIBOR Bank Fines|||||| |||||||Unrestricted|Restricted|Total Funds| |||||||Funds|Funds|2020| ||Small Grants
Armed Forces Covenant|||Fund Trust||4,183|33,250|4,183
33,250| ||HM Treasury||LIBOR Bank Fines||||23,500|23,500| |||||||4,183|56,750|60,933| |6.|Other trading||activities|||||| ||||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||||Funds|2021|Funds|2020| |||||||f||| ||Fundraising|events|||||3,443|3,443| |7.|Investment|income||||||| ||||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||||Funds|2021|Funds|2020| ||Bank interest||received||15|15|264|264| ## ## ## ## |Expenditure
on charitable
activities by f|und type||| |---|---|---|---| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2021| |General Funds|16,556||16,556| |HM Treaury LIBOR Bank Fines||7,438|7,438| |Support costs|1,716||1,716| ||18,272|7,438|25,710| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2020| ||E||| |General Funds|12,446||12,446| |HM Treaury LIBOR Bank Fines||2,531|2,530| |Support costs|1,453||1,454| ||13,899|2,531|16,430| ## ||||||Activities|||||| |---|---|---|---|---|---|---|---|---|---|---| ||||||undertaken||Total||funds|Total fund| ||||||directly|Support costs|||2021|2020| ||General Funds||||16,556|1,716||18,272||13,900| ||HM Treaury|LIBOR Bank|Fines||7,438||||7,438|2,530| ||||||23,994|1,716||25,710||16,430| |10.|Analysis of|support costs||||||||| |||||||Bank||||| |||||Accountancy||Charges|Total 2021
f|||Total 2020| ||Finance costs||||1,500|216|||1,716|1,454| |11.|Independent|examination|fees|||||||| |||||||||||Period from| ||||||||Year to|||27Aug 19to| ||||||||31|Dec 21||31 Dec20| ||||||||||R|| ||Fees payable|to the independent||examiner|for:|||||| ||Independent|examination|ofthe financial statements||||||1,500|1,440| ## ## ## ## ## ## ## ## |Unrestri|cted
funds|||||| |---|---|---|---|---|---|---| ||||At|||At| |||1 January||||31 December| ||||2021|Income|Expenditure|2021| |General|funds|115,599||1,982|(18,272)|99,309| ||||At|||At| |||27|August|||31 December| ||||2019|Income|Expenditure|2020| ||||||Z|| |General|funds|||129,498|(13,899)|115,599| ## ## ## |15|. Analysis ofcharit|. Analysis ofcharit|ab|le
f|unds
(continued)|||||| |---|---|---|---|---|---|---|---|---|---|---| ||Restricted funds|||||||||| |||||||At||||At| |||||||1 January|||31|December| |||||||2021|Income|Expenditure||2021| ||||||||K|||P| ||Armed Forces Covenant||||Fund Trust|33,250||||33,250| ||HM Treasury|LIBOR Bank Fines||||20,969||(7,438)||13,531| |||||||54,219||(7,438)||46,781| |||||||At||||At| |||||||27 August|||31|December| |||||||2019|Income|Expenditure||2020| ||Armed Forces Covenant||||Fund Trust||33,250|||33,250| ||HM Treasury|LIBOR||Bank Fines|||23,500|(2,531)||20,969| ||||||||56,750|(2,531)||54,219| |16.|Analysis ofnet assets between funds|||||||||| ||||||||Unrestricted|Restricted|Total Funds|| ||||||||Funds|Funds||2021| ||||||||E|||| ||Current assets||||||100,809|46,781||147,590| ||Creditors less|than|1|year|||(1,500)|||(1,500)| ||Net assets||||||99,309|46,781||146,090| ||||||||Unrestricted|Restricted|Total Funds|| ||||||||Funds|Funds||2020| ||Current assets||||||117,039|54,219||171,258| ||Creditors less|than|1 year||||(1,440)|||(1,440)| ||Net assets||||||115,599|54,219||169,818| |17.|Analysis ofchanges|||in net debt||||||| ||||||||At|||At| ||||||||1 Jan 2021|Cash flows|31|Dec 2021
f| ||Cash at bank and in||hand||||171,258|(23,668)||147,590|