**Service Non Public Funds Final Accounts, Managing Trustee's Report, Internal Audit Board Report and Independent Examiner's Report** (SORP 2005 compliant) **Regimental Accountant Scheme** Army Form N1514 (Rev 11/09) Unit: Address: In Respect of the **PRI FUND** Fund/Charity Charity Commission/Regulator registered number ## **5077227** For the period from **01-Apr-23** to **31-Mar-24** ## **Managing Trustee(s) during the period:** |**From**|**01-Apr-2023**|**to**|**03-Jun-2023**|**Name**|||| |---|---|---|---|---|---|---|---| ||||||||| |**From**|**04-Jun-2023**|**to**|**31-Mar-2024**|**Name**|||| ## **Fund Manager(s) during the period:** |**From**|**01-Apr-2023**|**to**|**31-Mar-2024**|**Name**||| |---|---|---|---|---|---|---| |||||||| |**From**||**to**||**Name**||| |||||||| |**From**||**to**||**Name**||| |||||||| |**From**||**to**||**Name**||| ## **Internal Auditor(s) during the period:** |**From**|**01-Apr-2023**|**to**|**02-Jul-2023**|**Name**|||| |---|---|---|---|---|---|---|---| ||||||||| |**From**|**03-Jul-2023**|**to**|**31-Mar-2024**|**Name**|||| ## **Associate Auditor(s) during the period:** |**Associate Auditor(s) during the**|**period:**| |---|---| |Associate Auditor|N/A| ||| |Associate Auditor|| ||| |Associate Auditor|| ## **Regimental Accountant(s) during the period:** |**From**|**01-Apr-2023**|**to**|**30-Nov-2023**|**Name**|||| |---|---|---|---|---|---|---|---| ||||||||| |**From**|**01-Dec-2023**|**to**|**31-Mar-2024**|**Name**|||| ||||||||| |**From**||**to**||**Name**|||| ||||||||| |**From**||**to**||**Name**|||| ## **Notes to the accounts (Paras 2 to 12 are to be completed by all funds which have a gross income of £100K or over and those funds already registered with the Charity Regulator, all other funds are to complete Paras 6 and 7 and the declarations at Para 12):** ## 1. Principal Accounting Policies a. Accounting Convention. The financial statements are prepared under the historical cost convention as modified by the inclusion of investments at market value and in accordance with applicable accounting standards. In preparing the financial statements the charity follows best practice as set out in the Statement of Recommended Practice "Accounting and reporting by Charities" (SORP) 2005 (http://www.charitycommission.gov.uk/investigations/sorp/sorp05docs.asp) b. Incoming Resources. Income is recognised in the period in which the charity is entitled to receipt, and the amount can be measured with reasonable certainty. Grants from other agencies including donations and other income from activities are in furtherance of the charity's objects and are part of the general funds of the charity. A restricted fund is only recognised where this is an agreed and explicit condition of the grant or donor. c. Intangible Income. Due to the close collaborative relationship and the manner in which the charity's activities compliment those of the Army, intangible income, reflected in time and use of premises is not quantifiable or measurable and so is not recognised in the accounts. d. Resources Expended and Basis of Allocation of costs. Expenditure is included when incurred or exceptionally where a commitment is made which requires an accrual when payment is to be made in the subsequent accounting period. Similarly, where prepayments are made in recognition of commitments falling due in a subsequent accounting period, the appropriate credit is entered in the accounts and reversed the following year. Grants payable are included in the SOFA when approved by the Managing Trustee. Expenditure is recognised in the period in which it is incurred. The majority of costs are directly attributable to specific activities. Irrecoverable VAT is charged to the annual report and accounts. e. Governance Costs. Governance costs are the costs of professional advice, holding trustee meetings or committee meetings associated with decision making, any fee for audit or independent examination and any fee incurred in the preparation, statutory filing, printing or copying of the annual report and accounts. f. Capitalisation and Depreciation of Tangible Fixed Assets. All assets having a purchase value of more than £500 are capitalised. The cost of tangible fixed assets are written off by equal annual instalments over their expected useful lives using the following methods of depreciation: Furniture, fixtures and equipment - Straight Line over a period of 2 - 10 years. Motor vehicles - Straight Line over a period of 2 - 10 years. Assets with a life of more than one year but with a purchase value of below £500 are included within the inventory but the cost is written off in the year it is incurred and is not depreciated over the useful life of the asset. Where the asset is depreciated over a period of more than 10 years, details of the item and period are to be provided following the notes on page 13. g. Fixed Asset Investment. Fixed asset investments are included at market value at the balance sheet date. Any gain or loss on revaluation is shown in the Statement of Financial Activities (SOFA) on page 2. 7 h. Stocks. Purchased stocks are valued at the lower cost or net realisable value making due allowance for any obsolete or slow-moving items. i. Funds Accounting. Funds held by the charity are: (1) General Purpose/Unrestricted/Designated Funds. These are funds that can be used in accordance with the charitable objects at the discretion of the Managing Trustee. Designated funds are unrestricted funds which have been allocated/earmarked for a particular purpose by the Managing Trustee and are to be declared in the Managing Trustee's comments in accordance with Para 12 to these notes stating what they are intended to be used for and when. (2) Endowment Funds. Endowment funds are those investments and other gifts accepted by the unit, the capital sum or property being held in perpetuity and the income only being available for charitable use. (3) Restricted Funds. These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is to be included in the notes to the accounts. j. Heritage Assets. In the course of the unit's history, the charity may have acquired gifts, memorabilia, regalia, silverware, antiques and other historical artefacts in the course of distinguished military service in service of the Crown. The value of these pieces is in large part derived from their close association with Regimental history which precludes the use of conventional valuation techniques being applied. Whilst the objects of the charity do not specifically include preservation and conservation, the pieces represent an essential element of celebrating the unit's history and foster esprit-de-corps. Consequently the Managing Trustee considers the charity to hold heritage assets both for functional use and as an element of national history on behalf of the nation. Heritage assets acquired prior to 1 Apr 06 are therefore not capitalised on the balance sheet but a description of those assets is disclosed as part of the notes to the accounts. Heritage assets acquired after 1 Apr 06 where the purchase price is known and which exceed £500.00 are included in the balance sheet at acquisition value but are not depreciated. k. Other Costs. Other costs are those costs not incurred in the undertaking of charitable activity in furtherance of the objects of the charity, i.e. the provision of facilities, recreational programmes or activities in furtherance of military efficiency. They are also costs incurred in the making of grants and donations, in the costs of generating funds, i.e. the costs incurred in trading or fundraising undertaken by the charity, or in governance costs. 8 2. Grants Made. (if total grants are over 5% of the charity's total expenditure). The charity made the following grants/donations: ## Grants to institutions |Grants to institutions|||| |---|---|---|---| |Name of institutions|Purpose|Total number of
grantsgiven|Total amount of
grantspaid| |N/A|N/A|0|0.00| |N/A|N/A|0|0.00| |N/A|N/A|0|0.00| |N/A|N/A|0|0.00| |N/A|N/A|0|0.00| |Total grants to institutions||
0|0.00| ## Grants to individuals |Grants to individuals||| |---|---|---| |Purpose|Total number of
grantsgiven|Total amount of
grantspaid| |N/A|0|0.00| |N/A|0|0.00| |N/A|0|0.00| |N/A|0|0.00| |N/A|0|0.00| |Total|0|0.00| ## 3. Related Party Transactions & Remuneration and Expenses Whilst the charity has a close working relationship with the Army, there are no transactions with the Army which require disclosure under SORP 2005. The only transactions made by the charity in favour of the unit are wholly attributable to the charitable activities of furthering military efficiency. The Managing Trustee is an officer or equivalent and fulfils the role as trustee in accordance with the applicable laws and regulations. No expenses have been paid to the trustee. In the event that expenses have been paid to the trustee these are disclosed under the Managing Trustee's comments. ## 4. Analysis of Capital Property ||Fixtures
fittings &
equipment
£|Motor
vehicles
£|Total
£| |---|---|---|---| |Balance b/f|11,984.02|0.00|11,984.02| |Purchases|0.00|0.00|0.00| |Sales & W/Os|0.00|0.00|0.00| |Depreciation|0.00|0.00|0.00| |Balance c/f|11,984.02|0.00|11,984.02| 9 5. Total Value of Investments by Category ||Value £| |---|---| |Carryingvalue(market value at beginningofyear|0.00| |Add additions to investments at cost(investmentspurchased)|0.00| |Less disposals at carryingvalue(investments sold)|0.00| |Add/(deduct) net gain/(loss) on revaluation (gain/loss at end of
accounting period/audit)|0.00| |Carryingvalue(market value)at end ofyear|0.00| ## Breakdown of Market Values at |Year End|GPF/
Unrestricted|Restricted|Endowment|Total
value| |---|---|---|---|---| ||Value £|Value £|Value £|Value £| |Investment properties|0.00|
0.00|0.00|0.00| |Investments listed on a recognised
stock exchange|0.00|
0.00|0.00|0.00| |Investments held in unit trusts or other
collective investment schemes|0.00|
0.00|0.00|0.00| |Investments in subsidiary or connected
undertakings and companies|0.00|
0.00|0.00|0.00| |Securities not listed on a recognised
stock exchange|0.00|
0.00|0.00|0.00| |Cash held as part of the investment
portfolio|0.00|
0.00|0.00|0.00| |Other investments|0.00|
0.00|0.00|0.00| |Total|0.00|
0.00|0.00|0.00| ## 6. List of Debtors |Debtor|Date of Debt|Amount| |---|---|---| |N/A|N/A|0.00| |N/A|N/A|0.00| |N/A|N/A|0.00| |N/A|N/A|0.00| |Total||
0.00| * There are no amounts falling due after more than one year (delete as appropriate). 7. List of Creditors |Creditor|Date of Credit|Amount| |---|---|---| |N/A|N/A|0.00| |N/A|N/A|0.00| |N/A|N/A|0.00| |N/A|N/A|0.00| |Total||
0.00| * There are no amounts falling due after more than one year (delete as appropriate). 10 8. Paid Employees ||Thisyear £|Lastyear £| |---|---|---| |Gross wagespaid|0.00|
0.00| |Employer's National Insurancepaid|0.00|
0.00| |Pension Contributionspaid|0.00|
0.00| |Total staff costs|0.00|
0.00| Give the number of employees who were engaged in each of the following activities: |Give the number of employees who were engaged in each of the following activities:||| |---|---|---| ||Thisyear £|Lastyear £| |Costs ofgeneratingfunds|0.00|
0.00| |Charitable activities|0.00|
0.00| |Other|0.00|
0.00| |Total|0.00|
0.00| No individual employee received a salary of over £60,000.00 ## 9. Governance Costs ||Thisyear £|Lastyear £| |---|---|---| |Audit or independent examination fee|0.00|
0.00| ## 10. Restricted/Endowment Funds Give details of the movements of the individual funds summarised in the restricted and endowment column of the Statements of Financial Activities (SOFA). **FUND RETURN SUMMARY ATTACHED** ## See attached SOFA |Fund Name|Fund Bal B/F|Income
Resource for
period|Outgoing
Resource for
period|Transfers|Gains ans Losses|Fund Bal C/F| |---|---|---|---|---|---|---| |-3 SQN FUND|£
118.60|£
66.00|£
-|£
-|£66.00|£
184.60| |-8 SQN FUND|£
154.40|£
2,051.35|£
800.00|£
-|£1251.35|£
1,405.75| |-4 SQN FUND|£
968.10|£
300.00|£
968.10|£
-|-£668.10|£
300.00| |-7 SQN FUND|£
-|£
-|£
-|£
-|£0|£
-| |-9 SQN FUND|£
952.70|£
6,489.20|£
5,478.21|£
-|£1,010.99|£
1,963.69| |W SQN FUND|£
25.00|£
-|£
-|£
-|£25|£
25.00| |RSM FUND|£
397.75|£
3,088.31|£
2,877.40|£
-|£210.91|£
608.66| |PRI PROFIT SHARE|£
-|£
-|£
-|£
-|£0|£
-| |ASSOCIATION|£ 4,933.20|£
3,058.00|£
3,099.15|£
-|-£41.15|£
4,892.05| |PARTNER'S DINNER NIGHT|£
-|£
-|£
-|£
-|£0|£
-| |AGC DET FUND|£
724.34|£
759.15|£
716.08|£
-|£43.07|£
767.41| |EX HOPLITE LINKS|£
901.20|£
1,694.00|£
1,404.42|£
-|£289.58|£
1,190.78| |STATUE|£ 1,575.06|£
-|£
-|£
-|£0|£
1,575.06| |EX DRAGON DESCENT|£
125.00|£
742.32|£
-|£
-|£742.32|£
867.32| |EX MERCURY SNOW RIDER|£
625.00|£
-|£
625.00|£
-|-£625|£
-| |Ex DRAGON KITE LOOP|£
-|£
900.00|£
900.00|£
-|£0|£
-| |||||||| |GAINSHARE|£ 1,846.74|£
1,149.00|£
-|£
-|£1,167|£
679.74| |||||||| |-3 GAINSHARE|£
500.00|-£
500.00|£
-|£
-|-£500|£
-| |4 GAINSHARE|£
-|£
-|£
-|£
-|£0|£
-| |-7 GAINSHARE|£
-|£
-|£
-|£
-|£0|£
-| |-8 GAINSHARE|£
750.00|-£
744.00|£
-|£
-|-£744|£
6.00| |W GAINSHARE|£
-|£
-|£
-|£
-|£0|£
-| |M GAINSHARE|£
-||£
-|£
-|£0|£
-| |-9 GAINSHARE|£
686.00|-£
250.00|£
300.00|£
-|-£550|£
136.00| |-RHQ GAINSHARE|£
500.00|£
-|£
-|£
-|£0|£
500.00| |QGS BEWF GRANT|£
620.00|£
-|£
-|£
-|£0|£
620.00| 11 A brief explanation as to the nature and purpose of the charity's Restricted Funds is to be provided. |**Name of Restricted Fund**|**Name of Restricted Fund**|**Name of Restricted Fund**|**Name of Restricted Fund**|**Name of Restricted Fund**||||||**Purpose of fund**|**Purpose of fund**|**Purpose of fund**||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |R001|||||||For good and benefit of|||Sqn members.||||| |R003|||||||For good and benefit of|||Sqn members.||||| |R005|||||||Forgood and benefit of|||Sqn members.||||| |R006|||||||For good and benefit of|||Sqn members.||||| |R007|||||||For good and benefit of|||Sqn members.||||| |R008|||||||Forgood and benefit of|||members.||||| |R013|RSM FUND||||||Forgood and benefit of
personnel.|||||||| |R016|PRI|PROFIT SHARE|||||PRI Profit Share from
Regt Accountant.|||||||| |R022||ASSOCIATION|||||For good and benefit of||past and present personnel.|||||| |R025|PARTNER'S DINNER NIGHT||||||Annualpartner's dinner night|||||||| |R030|AGC DET FUND||||||Forgood and benefit of||AGC(SPS)Det.|||||| |R033|EX
LINKS||||||For annualgolf trip|||||||| |R082|||||||Donation income for|statue.||||||| |R088|EX DRAGON DESCENT||||||1 Annual skiingexercise|||||||| |R090|EX MERCURY SNOW RIDER||||||For annual snow boardingexercise|||||||| |R091|EX DRAGON KITE LOOP||||||Kite surfingexercise|||||||| |R300|GAINSHARE||||||Gainshare received from
for the benefit of all ArmyRegular SP.|||||||| |R302|||GAINSHARE||||Forgood and benefit of||||(primarilyJNCOs)received from|||| |R304|||GAINSHARE||||Forgood and benefit of||||primarilyJNCOs)received from|||| |R305|||GAINSHARE||||For good and benefit of||||(primariliy JNCOs) received from|||| |R306|||GAINSHARE||||For good and benefit of||||(primarily JNCOs) received from|||| |R307||||GAINSHARE|||Forgood and benefit of|||||(primarilyJNCOs)received from||| |R308||||GAINSHARE|||For good and benefit of|||||primarily JNCOs) received from||| |R309|||||||For good and benefit of||||(primarily JNCOs) received from|||| |R310||||GAINSHARE|||Forgood and benefit of||||(primarilyJNCOs)received from|||| |R946|QGS BEWF GRANT||||||Welfare specific for QCSpersonnel.|||||||| ## 11. Heritage Assets Heritage assets that are owned by the charity but purchased/acquired prior to 1 Apr 06 are not included in the charity's capital property value (see note 1.j). A list/description of these assets is below: |CommandingOfficer's board|| |---|---| |RSM's board|| |Visitors book|| |Regimental Historybook|| |Regimental History glass displaybook stand|| |SFC Wings,belt and brassplaque on wooden board|| |Xiphos sword/sheaf/
emblem and brassplaque on wooden board|| ## 12. Declarations All of the charity's commitments are provided for in the accounts. No guarantees have been given to third parties. The charity has not received any loans that are outstanding at the year-end and secured on assets. The charity has not granted any loans to institutions or companies connected with the charity. The charity did not make any ex-gratia payments during the year. Sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with the restrictions imposed. The financial activities, assets and liabilities of all the charity's branches or sections have been included. The trustees have not changed the year end date or the length of the charity's financial year. 12 The charity has no designated funds (if there are designated funds the reason for designation and when each designated fund is intended to be used by is to be stated in the Managing Trustee's report). All the charity's operations are continuing operations and there were no operations discontinued or acquired during the year. No funds (unrestricted, designated, restricted or endowment) are in deficit at the balance sheet date. The charity has no intangible assets. There were no inter-fund loans outstanding at the balance sheet date. None of the charity's functional fixed assets have been re-valued during the year and the charity does not have a policy of revaluation of these assets. The charity has no subsidiary companies. The charity has no material fixed assets which have not been capitalised and included in the balance sheet. No internal transfers have occurred out of restricted/endowment funds. In the event that a transfer has taken place, full details of the reason for the transfer are disclosed in the Managing Trustee's comments. All investments held are investment assets in the UK unless otherwise stated. **Note:** Where any of the declarations are not correct they are to be crossed out and details provided in the Managing Trustee's comments. 13 Additional comments: 1. **General comments** . I appreciate the RA efforts and the fund in general is healthy and managed correctly. All documents are signed accordingly and a 6m health check was conducted mid year. I recognise the funds movement in and out are relatively low when you remove the HOPLITE funds moved in by mistake. I will look to drive more engagement from the Sqn inc IXW setting up a Sqn Fund. Signature ______________________________ Name Date: _____30 Jul 24_______________ Fund Manager (Regimental Accountant Scheme)/Account Holder (Audit Board Scheme) **Managing Trustee's Annual Report and Comments:** Unit **MAB 1** Address In Respect of the **PRI FUND** Charity Commission/Regulator registered number **5077227** Fund/Charity Description of the charity's trusts This should include: a. Details, including date if known of the charity's governing document (e.g. trust deed, will, constitution etc): and b. A brief explanation of the charity's objects. Where applicable, you may choose to give details of any specific investment powers of the charity. |Where applicable, you may|choose to give details of any specific investment powers of the charity.| |---|---| |Governing Document
(e.g. Trust Deed,
Constitution)|Service Funds Regulations
PRI Fund Constitution adopted by the Fund on 06 Dec 21
Regimental Standing Orders
Queens Regulations 1975| |Objects of the Charity|The promotion and efficiency of the Armed Forces of the Crown by the provison and support of
facilities and activities for the efficiency and well-being of Service Personnel.| Explain briefly how trustees are elected or appointed and details of any induction and trustee training attended. |Explain briefly how trustees
attended.|are elected or appointed and details of any induction and trustee training| |---|---| |Trustee selection
method|Managing Trustee (MT) selected on appointment as Commanding Officer.| ||| |Trustee induction and
training|The Managing Trustee has attended the Commanding Officer (Designate) Course. The Senior
Fund Manager is required to complete the FM e-learning Course which is hosted on the DLE
within 1 month of assuming the appt.| 15 Explain about what the charity is trying to do and how it is going about it. You are only required to provide a brief summary of the main activities and achievements of the charity during the year in relation to its objects. |objects.|| |---|---| |Summary of main
activities in relation to
the Charity's objects|For the good and benefit of all members of
to facilitate functions, events and
adventure training through grants and donations from the fund.| |Summary of main
achievements of the
Charity during the
year|Nothing significant during this Financial Year. Routine support to Sub Unit Cohesion Events as
well as support to Adv Trg & Sport related activity where the PRI Fudn has been approached.| Provide a brief review of the financial position of the charity. This should include the principle types of income. |Financial Review|The principle income for the PRI Fund remains that of Subscriptions received by the Sub Units
for either the GPF or into the relevant Restricted Funds.| |---|---| The Managing Trustee should give in their report a description of the following policies: a. For the selection of investments for the charity. b. For determining the level of income reserves held, stating and explaining the level of reserves held. c. Where grants are made by the charity, the selection of individuals and institutions who are to receive grants out of the assets of the charity. |Financial reserves
policy|No Reserves policy for this Fund at present.| |---|---| ||| |Investments selection
policy and
performance of those
investments|Not Applicable.| 16 Provide the name of all trustees/the Managing Trustee(s) during the report year. |Managing Trustee's
name/trustees' names|Lt Col| |---|---| ||| |Serious Incidents|Nil.| ||| |Public Benefit
Statement|This fund provides public benefit by assisting service personnel to more effectively perform
their roles within the Armed Forces of the Crown. This assistance enables service personnel to
face the challenges and danger associated with military service by developing and maintaining
teamwork; skills; fitness; confidence, character, spirit and attitude; and morale*. As a result the
fund promotes the efficiency of the Armed Forces of the Crown by enhancing the British Army’s
capability to undertake the roles demanded of it including the defence of the United Kingdom
and its interests.
I confirm that I have paid due regard to the Charity Commission of England and Wales’s
guidance on public benefit when deciding what activities the charity should undertake.| 17 Additional comments (include any declarations which were not correct (Pg 12/13)): The PRI is usually the life blood of a Regt and good PRI management and expenditure should be reflected as a metric of unit health. However, the units HOPLITE charity intertwines with the PRI making the ability to spend money in other areas easier with less burden on the PRI. I would like the PRI to be supported more and used more by Regt and will ask my SSMs at the next PRI meeting for ideas to improve subscriptions. I note the fund is in good health yet more could be done to improve the overall turnover. It is noted that there is a lack of requests for funding. ## Signature Name Lt Col Date: ____ 30-Jul-24 Appointment Commanding Officer 18 ## **Internal Auditor's/Audit Board Report** 1. *I ~~/We~~ have examined the books of account and records from which the final accounts were prepared and have obtained all the information and explanations that were necessary for the purpose of *my ~~/our~~ internal audit. 2. *I ~~/We~~ certify that end of period checks have been conducted in accordance with Service Funds Regulations. 3. Subject to the observations given below *I am ~~/we are~~ satisfied that proper books of account have been kept and that the final accounts give a true and fair view of the results of transactions over the period and of the state of the Fund's affairs as at the date of the balance sheet. Subject also to *m ~~y/our~~ observations *I am ~~/ we are~~ satisfied that cash and bank balances and stocks on hand have been properly checked at prescribed intervals and that adequate insurance exists. 4. *I ~~/We~~ have stamped and the original books of account and the original records *I ~~/we~~ have checked. All vouchers relating to this account have been cancelled. 5. *I ~~/We~~ have made the following observations whilst carrying out the internal audit: - a. Previous observations *have been actioned (list those observation outstanding). b. **Management** . The PRI Fund has had an ever present FM who understands the Funds purpose and has conducted various checks monthly and completed the 6m health check in year. The RA has been changed 3 times in the year with various degrees of experience with some assistance from other units in the daily processes. Some bookings of income and expenditure have been done incorrectly as shown in the analysis forms in the GCODES but overall this doesn't effect the funds held. The PRI overall saw a decrease of £1,034.05 with a net expenditure of £35,174.85 overall. The fund is healthy and being used correctly however with the HOPLITE fund acting as additional support maybe not utilised enough. c. **Fund Manager Monthly Check.** The fund manager conducts his checks monthly and receives an IA monthly email and 1/4 report through the SFM. d. **Stock Checks** . Stock write-off action happened in year, however the RA didn't apply the stock balance procedure at year end resulting in -100% This stock action will be reverted to 0 soonest as not held. e. **Property** . Property deprecation is also not conducted in line with policy but will be realigned in year to reflect 25% deprecation - f. **Write Off Action** . See comments at stock checks. - g. **Investments** . Generated through Bank interest total of £931.54 over the year gained. h. **Restricted Funds** . On review there are a couple of RCODE that need to be deleted as they are no longer in use. All longer then 6m RCODE have charters to reflect the purpose of the fund. Within the gain-share and Sqn gain-share one of the RA has book expenditure through a income GCODE resulting in a (-) figure on the RCODE incoming resources sheet, this doesn't effect the RCODE balances but isn't correct for end of year processes. New RA has been advised to take care booking in relative GCODES and I expect better processes in year 24/25. i. **Transfers.** Internal transfer for £46 is for the closing down of RCODE015 families day which had a remaining balance of £46 moved to GFP. j. **Excessive income.** GCODE 304 unknown BACS received HOPLITE charity income into the central bank instead of the HOPLITE CB this is captured here and moved out accordingly. Signature Name Capt Date: ____________________ Appointment Regimental Administrative Officer 19 **Comd/SO2 SPS - Independent Examiner's report on the Accounts, and Comments** ## Respective Responsibilities of Trustees and Examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed. It is my responsibility to: - a. Examine the accounts (under section 43(3)(a) of the Act). - b. Follow the procedures laid down in the General Directions given by the Charity - Commissioners (under section 43(7)(b) of the Act). - c. State whether particular matters have come to my attention. ## Basis of Independent Examiner's Statement My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. ## Independent Examiner's Statement In connection with my examination, no matter has come to my attention (other than those disclosed overleaf*): - a. Which gives me reasonable cause to believe that in any material respect the requirements: - (1) To keep accounting records in accordance with section 41 of the 1993 Act: - (2) To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act: have not been met. b. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. * Delete as applicable. 20 **Comd/SO2 SPS - Independent Examiner's report on the Accounts, and Comments** Disclosure Section (Only to be completed if the examiner needs to highlight material problems/discrepancies) Give here brief details of any items that the examiner wishes to disclose. ## Comd/SO2 SPS Comments Independent Examiner's Signature Name Maj Appointment SO2 SPS 160X Date: ____________________ 21 ## **Statement of Financial Activities as at 31/03/2024** ## **Paxton+** **Page 1 of 1 Printed: 21/08/2024 PRI** ||||||**PRI**| |---|---|---|---|---|---| ||Unrestricted/
Designated/GPF
Funds|Restricted
Funds|Endowment
Funds|Total Funds|Previous Period
Total Funds| |**Incoming Resources**
Voluntary Income
Activities for Generating Funds
Investment Income
Income Resources from
Charitable Activities
Other IncomingResources|1,500.00
0.00
931.54
3,498.40
29,244.91|0.00
0.00
0.00
19,148.33
-2,294.00|0.00
0.00
0.00
0.00
0.00|1,500.00
0.00
931.54
22,646.73
26,950.91|120.00
0.00
126.40
74,979.26
21,218.65| |**Total Incoming Resources**|**35,174.85**|**16,854.33**|**0.00**|**52,029.18**|**96,444.31**| |**Resources Expended Cost of**
**Generating Funds**
Investment Management Costs
Costs of Generating Funds
Charitable Activities
Governance Costs
Grants and Donations
Other Costs|
0.00
0.00
3,431.24
0.00
3,664.99
29,158.67|
0.00
0.00
17,084.36
0.00
0.00
479.00|0.00
0.00
0.00
0.00
0.00
0.00|
0.00
0.00
20,515.60
0.00
3,664.99
29,637.67|
100.00
0.00
76,861.95
792.96
500.00
16,057.36| |**Total Resources Expended**|**36,254.90**|**17,563.36**|**0.00**|**53,818.26**|**94,312.27**| |**Net Incoming/Outgoing**
**Resources Before Transfers**|
**-1,080.05**|
**-709.03**|**0.00**|
**-1,789.08**|
**2,132.04**| |**Transfers**
Gross transfers between funds
(internal transfers)|46.00|0.00|0.00|46.00|284.50| |**Net Incoming resources before**
**holding gains and losses**|**-1,034.05**|**-709.03**|**0.00**|**-1,743.08**|**2,416.54**| |**Holding Gains/Losses**
Gains on revaluation of the
charity's fixed assets
Unrealised Gains/Losses on
investment assets|0.00
0.00|0.00
0.00|0.00
0.00|0.00
0.00|0.00
0.00| |**Net Movement in Funds**|**-1,034.05**|**-709.03**|**0.00**|**-1,743.08**|**2,416.54**| |**Reconciliation of Funds**
**Total funds brought forward**
**from previous year**
**Total funds carried forward**|**28,572.42**|**16,949.09**|**0.00**|**45,521.51**|| ||**27,538.37**|**16,240.06**|**0.00**|**43,778.43**|| **Service Non Public Funds Final Accounts, Managing Trustee's Report, Internal Audit Board Report and Independent Examiner's Report** (SORP 2005 compliant) **Regimental Accountant Scheme** Army Form N1514 (Rev 11/09) Unit: Address: In Respect of the **PRI FUND** Fund/Charity Charity Commission/Regulator registered number ## **5077227** For the period from **01-Apr-23** to **31-Mar-24** ## **Managing Trustee(s) during the period:** |**From**|**01-Apr-2023**|**to**|**03-Jun-2023**|**Name**|||| |---|---|---|---|---|---|---|---| ||||||||| |**From**|**04-Jun-2023**|**to**|**31-Mar-2024**|**Name**|||| ## **Fund Manager(s) during the period:** |**From**|**01-Apr-2023**|**to**|**31-Mar-2024**|**Name**||| |---|---|---|---|---|---|---| |||||||| |**From**||**to**||**Name**||| |||||||| |**From**||**to**||**Name**||| |||||||| |**From**||**to**||**Name**||| ## **Internal Auditor(s) during the period:** |**From**|**01-Apr-2023**|**to**|**02-Jul-2023**|**Name**|||| |---|---|---|---|---|---|---|---| ||||||||| |**From**|**03-Jul-2023**|**to**|**31-Mar-2024**|**Name**|||| ## **Associate Auditor(s) during the period:** |**Associate Auditor(s) during the**|**period:**| |---|---| |Associate Auditor|N/A| ||| |Associate Auditor|| ||| |Associate Auditor|| ## **Regimental Accountant(s) during the period:** |**From**|**01-Apr-2023**|**to**|**30-Nov-2023**|**Name**|||| |---|---|---|---|---|---|---|---| ||||||||| |**From**|**01-Dec-2023**|**to**|**31-Mar-2024**|**Name**|||| ||||||||| |**From**||**to**||**Name**|||| ||||||||| |**From**||**to**||**Name**|||| ## **Notes to the accounts (Paras 2 to 12 are to be completed by all funds which have a gross income of £100K or over and those funds already registered with the Charity Regulator, all other funds are to complete Paras 6 and 7 and the declarations at Para 12):** ## 1. Principal Accounting Policies a. Accounting Convention. The financial statements are prepared under the historical cost convention as modified by the inclusion of investments at market value and in accordance with applicable accounting standards. In preparing the financial statements the charity follows best practice as set out in the Statement of Recommended Practice "Accounting and reporting by Charities" (SORP) 2005 (http://www.charitycommission.gov.uk/investigations/sorp/sorp05docs.asp) b. Incoming Resources. Income is recognised in the period in which the charity is entitled to receipt, and the amount can be measured with reasonable certainty. Grants from other agencies including donations and other income from activities are in furtherance of the charity's objects and are part of the general funds of the charity. A restricted fund is only recognised where this is an agreed and explicit condition of the grant or donor. c. Intangible Income. Due to the close collaborative relationship and the manner in which the charity's activities compliment those of the Army, intangible income, reflected in time and use of premises is not quantifiable or measurable and so is not recognised in the accounts. d. Resources Expended and Basis of Allocation of costs. Expenditure is included when incurred or exceptionally where a commitment is made which requires an accrual when payment is to be made in the subsequent accounting period. Similarly, where prepayments are made in recognition of commitments falling due in a subsequent accounting period, the appropriate credit is entered in the accounts and reversed the following year. Grants payable are included in the SOFA when approved by the Managing Trustee. Expenditure is recognised in the period in which it is incurred. The majority of costs are directly attributable to specific activities. Irrecoverable VAT is charged to the annual report and accounts. e. Governance Costs. Governance costs are the costs of professional advice, holding trustee meetings or committee meetings associated with decision making, any fee for audit or independent examination and any fee incurred in the preparation, statutory filing, printing or copying of the annual report and accounts. f. Capitalisation and Depreciation of Tangible Fixed Assets. All assets having a purchase value of more than £500 are capitalised. The cost of tangible fixed assets are written off by equal annual instalments over their expected useful lives using the following methods of depreciation: Furniture, fixtures and equipment - Straight Line over a period of 2 - 10 years. Motor vehicles - Straight Line over a period of 2 - 10 years. Assets with a life of more than one year but with a purchase value of below £500 are included within the inventory but the cost is written off in the year it is incurred and is not depreciated over the useful life of the asset. Where the asset is depreciated over a period of more than 10 years, details of the item and period are to be provided following the notes on page 13. g. Fixed Asset Investment. Fixed asset investments are included at market value at the balance sheet date. Any gain or loss on revaluation is shown in the Statement of Financial Activities (SOFA) on page 2. 7 h. Stocks. Purchased stocks are valued at the lower cost or net realisable value making due allowance for any obsolete or slow-moving items. i. Funds Accounting. Funds held by the charity are: (1) General Purpose/Unrestricted/Designated Funds. These are funds that can be used in accordance with the charitable objects at the discretion of the Managing Trustee. Designated funds are unrestricted funds which have been allocated/earmarked for a particular purpose by the Managing Trustee and are to be declared in the Managing Trustee's comments in accordance with Para 12 to these notes stating what they are intended to be used for and when. (2) Endowment Funds. Endowment funds are those investments and other gifts accepted by the unit, the capital sum or property being held in perpetuity and the income only being available for charitable use. (3) Restricted Funds. These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is to be included in the notes to the accounts. j. Heritage Assets. In the course of the unit's history, the charity may have acquired gifts, memorabilia, regalia, silverware, antiques and other historical artefacts in the course of distinguished military service in service of the Crown. The value of these pieces is in large part derived from their close association with Regimental history which precludes the use of conventional valuation techniques being applied. Whilst the objects of the charity do not specifically include preservation and conservation, the pieces represent an essential element of celebrating the unit's history and foster esprit-de-corps. Consequently the Managing Trustee considers the charity to hold heritage assets both for functional use and as an element of national history on behalf of the nation. Heritage assets acquired prior to 1 Apr 06 are therefore not capitalised on the balance sheet but a description of those assets is disclosed as part of the notes to the accounts. Heritage assets acquired after 1 Apr 06 where the purchase price is known and which exceed £500.00 are included in the balance sheet at acquisition value but are not depreciated. k. Other Costs. Other costs are those costs not incurred in the undertaking of charitable activity in furtherance of the objects of the charity, i.e. the provision of facilities, recreational programmes or activities in furtherance of military efficiency. They are also costs incurred in the making of grants and donations, in the costs of generating funds, i.e. the costs incurred in trading or fundraising undertaken by the charity, or in governance costs. 8 2. Grants Made. (if total grants are over 5% of the charity's total expenditure). The charity made the following grants/donations: ## Grants to institutions |Grants to institutions|||| |---|---|---|---| |Name of institutions|Purpose|Total number of
grantsgiven|Total amount of
grantspaid| |N/A|N/A|0|0.00| |N/A|N/A|0|0.00| |N/A|N/A|0|0.00| |N/A|N/A|0|0.00| |N/A|N/A|0|0.00| |Total grants to institutions||
0|0.00| ## Grants to individuals |Grants to individuals||| |---|---|---| |Purpose|Total number of
grantsgiven|Total amount of
grantspaid| |N/A|0|0.00| |N/A|0|0.00| |N/A|0|0.00| |N/A|0|0.00| |N/A|0|0.00| |Total|0|0.00| ## 3. Related Party Transactions & Remuneration and Expenses Whilst the charity has a close working relationship with the Army, there are no transactions with the Army which require disclosure under SORP 2005. The only transactions made by the charity in favour of the unit are wholly attributable to the charitable activities of furthering military efficiency. The Managing Trustee is an officer or equivalent and fulfils the role as trustee in accordance with the applicable laws and regulations. No expenses have been paid to the trustee. In the event that expenses have been paid to the trustee these are disclosed under the Managing Trustee's comments. ## 4. Analysis of Capital Property ||Fixtures
fittings &
equipment
£|Motor
vehicles
£|Total
£| |---|---|---|---| |Balance b/f|11,984.02|0.00|11,984.02| |Purchases|0.00|0.00|0.00| |Sales & W/Os|0.00|0.00|0.00| |Depreciation|0.00|0.00|0.00| |Balance c/f|11,984.02|0.00|11,984.02| 9 5. Total Value of Investments by Category ||Value £| |---|---| |Carryingvalue(market value at beginningofyear|0.00| |Add additions to investments at cost(investmentspurchased)|0.00| |Less disposals at carryingvalue(investments sold)|0.00| |Add/(deduct) net gain/(loss) on revaluation (gain/loss at end of
accounting period/audit)|0.00| |Carryingvalue(market value)at end ofyear|0.00| ## Breakdown of Market Values at |Year End|GPF/
Unrestricted|Restricted|Endowment|Total
value| |---|---|---|---|---| ||Value £|Value £|Value £|Value £| |Investment properties|0.00|
0.00|0.00|0.00| |Investments listed on a recognised
stock exchange|0.00|
0.00|0.00|0.00| |Investments held in unit trusts or other
collective investment schemes|0.00|
0.00|0.00|0.00| |Investments in subsidiary or connected
undertakings and companies|0.00|
0.00|0.00|0.00| |Securities not listed on a recognised
stock exchange|0.00|
0.00|0.00|0.00| |Cash held as part of the investment
portfolio|0.00|
0.00|0.00|0.00| |Other investments|0.00|
0.00|0.00|0.00| |Total|0.00|
0.00|0.00|0.00| ## 6. List of Debtors |Debtor|Date of Debt|Amount| |---|---|---| |N/A|N/A|0.00| |N/A|N/A|0.00| |N/A|N/A|0.00| |N/A|N/A|0.00| |Total||
0.00| * There are no amounts falling due after more than one year (delete as appropriate). 7. List of Creditors |Creditor|Date of Credit|Amount| |---|---|---| |N/A|N/A|0.00| |N/A|N/A|0.00| |N/A|N/A|0.00| |N/A|N/A|0.00| |Total||
0.00| * There are no amounts falling due after more than one year (delete as appropriate). 10 8. Paid Employees ||Thisyear £|Lastyear £| |---|---|---| |Gross wagespaid|0.00|
0.00| |Employer's National Insurancepaid|0.00|
0.00| |Pension Contributionspaid|0.00|
0.00| |Total staff costs|0.00|
0.00| Give the number of employees who were engaged in each of the following activities: |Give the number of employees who were engaged in each of the following activities:||| |---|---|---| ||Thisyear £|Lastyear £| |Costs ofgeneratingfunds|0.00|
0.00| |Charitable activities|0.00|
0.00| |Other|0.00|
0.00| |Total|0.00|
0.00| No individual employee received a salary of over £60,000.00 ## 9. Governance Costs ||Thisyear £|Lastyear £| |---|---|---| |Audit or independent examination fee|0.00|
0.00| ## 10. Restricted/Endowment Funds Give details of the movements of the individual funds summarised in the restricted and endowment column of the Statements of Financial Activities (SOFA). **FUND RETURN SUMMARY ATTACHED** ## See attached SOFA |Fund Name|Fund Bal B/F|Income
Resource for
period|Outgoing
Resource for
period|Transfers|Gains ans Losses|Fund Bal C/F| |---|---|---|---|---|---|---| |-3 SQN FUND|£
118.60|£
66.00|£
-|£
-|£66.00|£
184.60| |-8 SQN FUND|£
154.40|£
2,051.35|£
800.00|£
-|£1251.35|£
1,405.75| |-4 SQN FUND|£
968.10|£
300.00|£
968.10|£
-|-£668.10|£
300.00| |-7 SQN FUND|£
-|£
-|£
-|£
-|£0|£
-| |-9 SQN FUND|£
952.70|£
6,489.20|£
5,478.21|£
-|£1,010.99|£
1,963.69| |W SQN FUND|£
25.00|£
-|£
-|£
-|£25|£
25.00| |RSM FUND|£
397.75|£
3,088.31|£
2,877.40|£
-|£210.91|£
608.66| |PRI PROFIT SHARE|£
-|£
-|£
-|£
-|£0|£
-| |ASSOCIATION|£ 4,933.20|£
3,058.00|£
3,099.15|£
-|-£41.15|£
4,892.05| |PARTNER'S DINNER NIGHT|£
-|£
-|£
-|£
-|£0|£
-| |AGC DET FUND|£
724.34|£
759.15|£
716.08|£
-|£43.07|£
767.41| |EX HOPLITE LINKS|£
901.20|£
1,694.00|£
1,404.42|£
-|£289.58|£
1,190.78| |STATUE|£ 1,575.06|£
-|£
-|£
-|£0|£
1,575.06| |EX DRAGON DESCENT|£
125.00|£
742.32|£
-|£
-|£742.32|£
867.32| |EX MERCURY SNOW RIDER|£
625.00|£
-|£
625.00|£
-|-£625|£
-| |Ex DRAGON KITE LOOP|£
-|£
900.00|£
900.00|£
-|£0|£
-| |||||||| |GAINSHARE|£ 1,846.74|£
1,149.00|£
-|£
-|£1,167|£
679.74| |||||||| |-3 GAINSHARE|£
500.00|-£
500.00|£
-|£
-|-£500|£
-| |4 GAINSHARE|£
-|£
-|£
-|£
-|£0|£
-| |-7 GAINSHARE|£
-|£
-|£
-|£
-|£0|£
-| |-8 GAINSHARE|£
750.00|-£
744.00|£
-|£
-|-£744|£
6.00| |W GAINSHARE|£
-|£
-|£
-|£
-|£0|£
-| |M GAINSHARE|£
-||£
-|£
-|£0|£
-| |-9 GAINSHARE|£
686.00|-£
250.00|£
300.00|£
-|-£550|£
136.00| |-RHQ GAINSHARE|£
500.00|£
-|£
-|£
-|£0|£
500.00| |QGS BEWF GRANT|£
620.00|£
-|£
-|£
-|£0|£
620.00| 11 A brief explanation as to the nature and purpose of the charity's Restricted Funds is to be provided. |**Name of Restricted Fund**|**Name of Restricted Fund**|**Name of Restricted Fund**|**Name of Restricted Fund**|**Name of Restricted Fund**||||||**Purpose of fund**|**Purpose of fund**|**Purpose of fund**||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |R001|||||||For good and benefit of|||Sqn members.||||| |R003|||||||For good and benefit of|||Sqn members.||||| |R005|||||||Forgood and benefit of|||Sqn members.||||| |R006|||||||For good and benefit of|||Sqn members.||||| |R007|||||||For good and benefit of|||Sqn members.||||| |R008|||||||Forgood and benefit of|||members.||||| |R013|RSM FUND||||||Forgood and benefit of
personnel.|||||||| |R016|PRI|PROFIT SHARE|||||PRI Profit Share from
Regt Accountant.|||||||| |R022||ASSOCIATION|||||For good and benefit of||past and present personnel.|||||| |R025|PARTNER'S DINNER NIGHT||||||Annualpartner's dinner night|||||||| |R030|AGC DET FUND||||||Forgood and benefit of||AGC(SPS)Det.|||||| |R033|EX
LINKS||||||For annualgolf trip|||||||| |R082|||||||Donation income for|statue.||||||| |R088|EX DRAGON DESCENT||||||1 Annual skiingexercise|||||||| |R090|EX MERCURY SNOW RIDER||||||For annual snow boardingexercise|||||||| |R091|EX DRAGON KITE LOOP||||||Kite surfingexercise|||||||| |R300|GAINSHARE||||||Gainshare received from
for the benefit of all ArmyRegular SP.|||||||| |R302|||GAINSHARE||||Forgood and benefit of||||(primarilyJNCOs)received from|||| |R304|||GAINSHARE||||Forgood and benefit of||||primarilyJNCOs)received from|||| |R305|||GAINSHARE||||For good and benefit of||||(primariliy JNCOs) received from|||| |R306|||GAINSHARE||||For good and benefit of||||(primarily JNCOs) received from|||| |R307||||GAINSHARE|||Forgood and benefit of|||||(primarilyJNCOs)received from||| |R308||||GAINSHARE|||For good and benefit of|||||primarily JNCOs) received from||| |R309|||||||For good and benefit of||||(primarily JNCOs) received from|||| |R310||||GAINSHARE|||Forgood and benefit of||||(primarilyJNCOs)received from|||| |R946|QGS BEWF GRANT||||||Welfare specific for QCSpersonnel.|||||||| ## 11. Heritage Assets Heritage assets that are owned by the charity but purchased/acquired prior to 1 Apr 06 are not included in the charity's capital property value (see note 1.j). A list/description of these assets is below: |CommandingOfficer's board|| |---|---| |RSM's board|| |Visitors book|| |Regimental Historybook|| |Regimental History glass displaybook stand|| |SFC Wings,belt and brassplaque on wooden board|| |Xiphos sword/sheaf/
emblem and brassplaque on wooden board|| ## 12. Declarations All of the charity's commitments are provided for in the accounts. No guarantees have been given to third parties. The charity has not received any loans that are outstanding at the year-end and secured on assets. The charity has not granted any loans to institutions or companies connected with the charity. The charity did not make any ex-gratia payments during the year. Sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with the restrictions imposed. The financial activities, assets and liabilities of all the charity's branches or sections have been included. The trustees have not changed the year end date or the length of the charity's financial year. 12 The charity has no designated funds (if there are designated funds the reason for designation and when each designated fund is intended to be used by is to be stated in the Managing Trustee's report). All the charity's operations are continuing operations and there were no operations discontinued or acquired during the year. No funds (unrestricted, designated, restricted or endowment) are in deficit at the balance sheet date. The charity has no intangible assets. There were no inter-fund loans outstanding at the balance sheet date. None of the charity's functional fixed assets have been re-valued during the year and the charity does not have a policy of revaluation of these assets. The charity has no subsidiary companies. The charity has no material fixed assets which have not been capitalised and included in the balance sheet. No internal transfers have occurred out of restricted/endowment funds. In the event that a transfer has taken place, full details of the reason for the transfer are disclosed in the Managing Trustee's comments. All investments held are investment assets in the UK unless otherwise stated. **Note:** Where any of the declarations are not correct they are to be crossed out and details provided in the Managing Trustee's comments. 13 Additional comments: 1. **General comments** . I appreciate the RA efforts and the fund in general is healthy and managed correctly. All documents are signed accordingly and a 6m health check was conducted mid year. I recognise the funds movement in and out are relatively low when you remove the HOPLITE funds moved in by mistake. I will look to drive more engagement from the Sqn inc IXW setting up a Sqn Fund. Signature ______________________________ Name Date: _____30 Jul 24_______________ Fund Manager (Regimental Accountant Scheme)/Account Holder (Audit Board Scheme) **Managing Trustee's Annual Report and Comments:** Unit **MAB 1** Address In Respect of the **PRI FUND** Charity Commission/Regulator registered number **5077227** Fund/Charity Description of the charity's trusts This should include: a. Details, including date if known of the charity's governing document (e.g. trust deed, will, constitution etc): and b. A brief explanation of the charity's objects. Where applicable, you may choose to give details of any specific investment powers of the charity. |Where applicable, you may|choose to give details of any specific investment powers of the charity.| |---|---| |Governing Document
(e.g. Trust Deed,
Constitution)|Service Funds Regulations
PRI Fund Constitution adopted by the Fund on 06 Dec 21
Regimental Standing Orders
Queens Regulations 1975| |Objects of the Charity|The promotion and efficiency of the Armed Forces of the Crown by the provison and support of
facilities and activities for the efficiency and well-being of Service Personnel.| Explain briefly how trustees are elected or appointed and details of any induction and trustee training attended. |Explain briefly how trustees
attended.|are elected or appointed and details of any induction and trustee training| |---|---| |Trustee selection
method|Managing Trustee (MT) selected on appointment as Commanding Officer.| ||| |Trustee induction and
training|The Managing Trustee has attended the Commanding Officer (Designate) Course. The Senior
Fund Manager is required to complete the FM e-learning Course which is hosted on the DLE
within 1 month of assuming the appt.| 15 Explain about what the charity is trying to do and how it is going about it. You are only required to provide a brief summary of the main activities and achievements of the charity during the year in relation to its objects. |objects.|| |---|---| |Summary of main
activities in relation to
the Charity's objects|For the good and benefit of all members of
to facilitate functions, events and
adventure training through grants and donations from the fund.| |Summary of main
achievements of the
Charity during the
year|Nothing significant during this Financial Year. Routine support to Sub Unit Cohesion Events as
well as support to Adv Trg & Sport related activity where the PRI Fudn has been approached.| Provide a brief review of the financial position of the charity. This should include the principle types of income. |Financial Review|The principle income for the PRI Fund remains that of Subscriptions received by the Sub Units
for either the GPF or into the relevant Restricted Funds.| |---|---| The Managing Trustee should give in their report a description of the following policies: a. For the selection of investments for the charity. b. For determining the level of income reserves held, stating and explaining the level of reserves held. c. Where grants are made by the charity, the selection of individuals and institutions who are to receive grants out of the assets of the charity. |Financial reserves
policy|No Reserves policy for this Fund at present.| |---|---| ||| |Investments selection
policy and
performance of those
investments|Not Applicable.| 16 Provide the name of all trustees/the Managing Trustee(s) during the report year. |Managing Trustee's
name/trustees' names|Lt Col| |---|---| ||| |Serious Incidents|Nil.| ||| |Public Benefit
Statement|This fund provides public benefit by assisting service personnel to more effectively perform
their roles within the Armed Forces of the Crown. This assistance enables service personnel to
face the challenges and danger associated with military service by developing and maintaining
teamwork; skills; fitness; confidence, character, spirit and attitude; and morale*. As a result the
fund promotes the efficiency of the Armed Forces of the Crown by enhancing the British Army’s
capability to undertake the roles demanded of it including the defence of the United Kingdom
and its interests.
I confirm that I have paid due regard to the Charity Commission of England and Wales’s
guidance on public benefit when deciding what activities the charity should undertake.| 17 Additional comments (include any declarations which were not correct (Pg 12/13)): The PRI is usually the life blood of a Regt and good PRI management and expenditure should be reflected as a metric of unit health. However, the units HOPLITE charity intertwines with the PRI making the ability to spend money in other areas easier with less burden on the PRI. I would like the PRI to be supported more and used more by Regt and will ask my SSMs at the next PRI meeting for ideas to improve subscriptions. I note the fund is in good health yet more could be done to improve the overall turnover. It is noted that there is a lack of requests for funding. ## Signature Name Lt Col Date: ____ 30-Jul-24 Appointment Commanding Officer 18 ## **Internal Auditor's/Audit Board Report** 1. *I ~~/We~~ have examined the books of account and records from which the final accounts were prepared and have obtained all the information and explanations that were necessary for the purpose of *my ~~/our~~ internal audit. 2. *I ~~/We~~ certify that end of period checks have been conducted in accordance with Service Funds Regulations. 3. Subject to the observations given below *I am ~~/we are~~ satisfied that proper books of account have been kept and that the final accounts give a true and fair view of the results of transactions over the period and of the state of the Fund's affairs as at the date of the balance sheet. Subject also to *m ~~y/our~~ observations *I am ~~/ we are~~ satisfied that cash and bank balances and stocks on hand have been properly checked at prescribed intervals and that adequate insurance exists. 4. *I ~~/We~~ have stamped and the original books of account and the original records *I ~~/we~~ have checked. All vouchers relating to this account have been cancelled. 5. *I ~~/We~~ have made the following observations whilst carrying out the internal audit: - a. Previous observations *have been actioned (list those observation outstanding). b. **Management** . The PRI Fund has had an ever present FM who understands the Funds purpose and has conducted various checks monthly and completed the 6m health check in year. The RA has been changed 3 times in the year with various degrees of experience with some assistance from other units in the daily processes. Some bookings of income and expenditure have been done incorrectly as shown in the analysis forms in the GCODES but overall this doesn't effect the funds held. The PRI overall saw a decrease of £1,034.05 with a net expenditure of £35,174.85 overall. The fund is healthy and being used correctly however with the HOPLITE fund acting as additional support maybe not utilised enough. c. **Fund Manager Monthly Check.** The fund manager conducts his checks monthly and receives an IA monthly email and 1/4 report through the SFM. d. **Stock Checks** . Stock write-off action happened in year, however the RA didn't apply the stock balance procedure at year end resulting in -100% This stock action will be reverted to 0 soonest as not held. e. **Property** . Property deprecation is also not conducted in line with policy but will be realigned in year to reflect 25% deprecation - f. **Write Off Action** . See comments at stock checks. - g. **Investments** . Generated through Bank interest total of £931.54 over the year gained. h. **Restricted Funds** . On review there are a couple of RCODE that need to be deleted as they are no longer in use. All longer then 6m RCODE have charters to reflect the purpose of the fund. Within the gain-share and Sqn gain-share one of the RA has book expenditure through a income GCODE resulting in a (-) figure on the RCODE incoming resources sheet, this doesn't effect the RCODE balances but isn't correct for end of year processes. New RA has been advised to take care booking in relative GCODES and I expect better processes in year 24/25. i. **Transfers.** Internal transfer for £46 is for the closing down of RCODE015 families day which had a remaining balance of £46 moved to GFP. j. **Excessive income.** GCODE 304 unknown BACS received HOPLITE charity income into the central bank instead of the HOPLITE CB this is captured here and moved out accordingly. Signature Name Capt Date: ____________________ Appointment Regimental Administrative Officer 19 **Comd/SO2 SPS - Independent Examiner's report on the Accounts, and Comments** ## Respective Responsibilities of Trustees and Examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed. It is my responsibility to: - a. Examine the accounts (under section 43(3)(a) of the Act). - b. Follow the procedures laid down in the General Directions given by the Charity - Commissioners (under section 43(7)(b) of the Act). - c. State whether particular matters have come to my attention. ## Basis of Independent Examiner's Statement My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. ## Independent Examiner's Statement In connection with my examination, no matter has come to my attention (other than those disclosed overleaf*): - a. Which gives me reasonable cause to believe that in any material respect the requirements: - (1) To keep accounting records in accordance with section 41 of the 1993 Act: - (2) To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act: have not been met. b. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. * Delete as applicable. 20 **Comd/SO2 SPS - Independent Examiner's report on the Accounts, and Comments** Disclosure Section (Only to be completed if the examiner needs to highlight material problems/discrepancies) Give here brief details of any items that the examiner wishes to disclose. ## Comd/SO2 SPS Comments Independent Examiner's Signature Name Maj Appointment SO2 SPS 160X Date: ____________________ 21