Docusign Envelope ID." D75FE619-EAC04782-950C-080465A8486E Veterans into Logistics Report of the Trustees and Financial Statements for the Year Ended 31 March 2025 Charity number 1198343 Company number CE028668 VETERANS into LOGISTICS
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Contents Reference and Administrative Details Page 3 Preface and Our Aims Page 4 Main Activities and Public Benefit Page 5 Achievement and Performance Page 6 Fundraising Activities Page 7 Financial Governance & Achievements Page 8 Achievements Against Objectives Page 9 Inveslment Policy, Reserves and Risk Management Pagelo Organisation Structure, Governance and Management Page11 Statement of Trustees, Responsibilities Page13 Independent Examiner's Report Page14 Financials Page15 onwards
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Reference and Administrative Details Trustees Legal Advisors D J Groves Peninsula Group Victoria Place A J Ellis (resigned 31.08.24) D G Warburlon-Broadhurst (Chair) H J Chapman 2 Cheetham Hill Road Irlam Manchester Principal Address M4 4FB Atrium House Bankers 574 Manchester Road HOLTS Military Bank 200 Fowler Avenue Bury Lancashire Fowler Business Park BL9 9SW Empress Ward Hampshire GU147JP Registered Charity Number 1198343 iknbassadors Independent Examiners Stuart Fitzgerald TC Group Park House Anthony Sandle Major lan Battersby 200 Drake Street Rochdale Lancashire Darren Wright John Harker MBE OL161PJ Serrior Management Team Major (R'td) John Harker MBE- General Manager- Resigned 31112025 Danielle Sinclair- General Manager- appointed 0310312025 Alan Smith - Senior Instructor & Training Advisor
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Preface and Our Aims Preface The trustees present their report with the financial statements of the charity for the year ended 31 March 2D25. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing their accounls in accordance with ihe Financial Reporting Slandard applicable to Ihe UK and Republic of Ireland (FRS 1021 (effeclive 1 January 2019). Our aims and objectives objectives and aims Veterans into Logistics is a non-profit organisation formed for the public benefit to provide the relief of poverty and unemployment by supporling ex-mililary personnel and oihers. Veterans into Logistics aims to support veterans, service leavers, individuals with convictions and any other vulnerable people. who require assistance in gaining HGV licences and support into paid employment. Our Mission is lo reduce unemployment and poverty, in particular. but not exclusively, within the ex-military community, individuals with convictions, chronically unemployed or living on low income, by creating a holistic pathway through HGV driver Iraining, into steady work within the logistics sector. Our Strategic Aims Partnership working that improves opportunities for veterans. Create a roule for veterans into Ihe logistics sector. Build a strong and sustainable org8nis8tion. Rehabilitate ex-offender veterans to avoid and offset the risk of recidivism. Close the skills and workforce gap in the logistics sector to benefit the efficiency of industries essential to daily life in the UK. Our Values We challenge oppression and prejudice and promote diversity. We are friendly and make everyone feel welcomed and supported. We are inspired io find worthwhile jobs for veterans. We are an independent voice for veterans. We are dynamic and work with purpose to get things done and to achieve188ting impact. Our Goals Engage as many veterans as possible. Train as many veterans as possible. Find employment opportunities for as many veterans as possible.
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Main Activities and Public Benefit Main activities The focus of the charily is to support ex-forees personnel and veterans. who require assistance in gaining HGV licences and facilitating them into employment. Alihough, the purposes of the charity extend ihis support to individuals with convictions, unemployed, people on a low income (less than £18,000 per annum), who require assistance in gaining HGV licences and support into paid employment. How our activities deliver public benefit As a charity, we source funds to supporl veterans and others ihrough the training required to become HGV drivers. We have created relationships with highly regarded logistics partners that enable us to set up an interview for employment as soon as they pass their test. This not only addresses the rates of unemployment in the veteran community but also provides life-changing support to Iheir families, transitioning into a meaningful and stable civilian life. Our unique approach provides mentors and buddies for ongoing support as the veteran settles into their new career and positive future. We reduce unemployment, addiction, homelessness, depression, and our work provides veterans with f inancial security. a sense of purpose and meaning, and alleviates the stress sometimes associated with leaving the military. In turn this benefits the public by reducing the burden on the benefits system, health and social care, police and HM Prison & Probalion Service whilst reducing the skills gap across the UK logistics sector Scale of support to veterans Our objects and available funding influence the services we can provide in supporting ex-forces personnel and veterans, who require assistance in gaining HGV licences and facilitating them into employment. The number of ex-forces personnel that contact VIL for support into employmenl is estimated at some 200 300 per year however our resource currently enables us to physically train a target of l 00 per year as well as providing support for 80 - 100 others inlo employment in the logislics arena. To enable us to Irain more veterans nationally (Scolland, Wales, Southern England) we use reputable training companies to support our mission by funding these companies lo do the praclical training. We do all the administration required and then find them a job orbce they have passed their driving tesl. In addition. and lo erbable us to do more in terms of finding job opportunities for veterans nationally, we have teamed up with The Veterans Job Board UK which is a job site for veterans and service leavers where companies can advertise their job opportunities and support those veterans that VIL find are harder to reach. The table further down demonslrates our achievements in training and securing employment for ex-forces personnel and veterans.
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Achievement and Performance Financial Review For the year ended 31 March 2025, Veterans into Logistics received lotal incoming resources of £872,530, an increase from £747,153 the previous year. Key income sources included fundraising (£469,155), grants (£238,346). donations and gift aid (£64.672) and support from the trading company (£341). Expenditure tolalled £817,168, primarily on charitable activities (£461,964) and raising funds (£355,204), with governance and support costs carefully controlled. The charity recorded a modest net income of £55.362 reflecting strong financial stewardship while continuing to expand its services and support for veterans. Salesforce An instance of Salesforce has now been fully configured and is used by ihe Charity to manage all veteran communications. which includes scheduling theory tests, training. driving lessons and recruitment. This has been implemented wilh enhanced security using multi-factor authenlication. Veterans into Logistics is sincerely grateful to Salesforce for the non-prof it instance they provide to the charity for no cost. office 365 Microsoft's cloud-based email and document collaboration platform, with multi-factor authentication is used across Ihe charity, which increases securiiy and cyber protection, using the Microsofl non-profit licence agreement.
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Fundraising Activities The Patron Scheme Annual Fundraising Events In the year ahead. the charity plans lo build on this success through the delivery of annual fundraising events supported by corporate and business partners. These events will provide an additional income stream while placing minimal demand on slaff resources, as organisations are actively recruited to organise fundraising activities on the charitys behalf. This approach creates efficiencies for the charity while offering participating organisations a positive engagetnent opportunity. Asda Partnership Asda: £37,862. Our relationship with Asda Logistics Services strengthens every year. We continued to train veterans through the money. Along wilh their Platinum Patronship this year they also hosted another Charity Ball nominating us as the charity and raised an additional £37,862. The Patron Scheme with logistics companies ihat support the charity's mission continues to develop positively and is expected to grow further in the coming year. Parlicipating companies nol only provide employment opportunilies for the velerans we Irain, bul also demonstrate their commitment by Joining the Patron Scheme and making an annual financial contribution. Income from the scheme increased from £40,419 to £59,950 during the year, providing a more predictable annual income stream and reducing reliance on less certain funding sources. His Majesty's Prison Service The charity has been working on several schemes wilh local prisons to place ex-velerans who have been released and through our HGV training program which it is envisaged will lead to long-lerm gainful employment. We have implemented a scheme whereby veterans in custody can apply to undertake their HGV theory test and medical during iheir final year in custody. This means that ihey have time to study for their Iheory test whilsl in prison, but imtnediately upon release, providing thal they have passed the theory tesl and medical exatnination, are able to embark upon HGV driver training. This scheme helps to reduce the risk of reoffending and a8 soon as a veteran passes his HGV test and CPC examination. they are able to begin work in the logistics sector. We have further supported this scheme by donating laptops to Thorn Cross open prison in Cheshire, enabling Veterans in custody to safely access the practice modules for the theory examination.
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Financial Governance and Achievements Financial Governance The trustees use Holts Military Bank Bank-line functionality to support financial governance process and procedures, lo automate financial policies. This continues to provide for the automation of the following, but nol limited to. financial governance rules.. No-one will have full unlimited access to any account which is a violation of the segregation of duties policy. Only certain individuals can set-up new payees, but not be able to make payments. Onlythe General Manager (GM) can approve payments to payees. We will no longer operate a cheque book and use BACS to make paymenls. Trustees will need to be informed by the bank of any transaclion more than £5,000, which will require Trustee approval. ALL Trustees will be able lo call the bank to discuss any account. ALL Trustees will be able lo change the bank mandate, this will require a second trustee to approve. ALL Trustees will be able to request changes to the account, this will require a second Trustee to approve. Any changes to the bank mandate will require a trustee to approve. Company Bank card will be held by the GM in his name and can be given to employees to use, a receipt will be required to support any bank card transaction up to a limit of £5,000. A second Company Bank card will be held by the Lead Instructor, wilh a single transaction limit of £130.00. a receipt will need to be provided for each transaction made using the card. Changes to any account will require a trustee to approve.
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Achievements Against Objectives The table below demonstrates our achievemenls in training and securing employment for the resources we have recruited.. Activity Target Actual Into Employment No of Velerans trained byVIL 110 142 136 No of DWPTrained Additional Veterans 100 107 107 supported into employment by VIL Total 220 257 251 Principal Funding Sources On a day-to-day basis the principal funding sources of the charity are Grants. Patron Scheme and community fundraising. Thereafter, annually, the direclors of Veterans into Logistics Trading Ltd. Donate any profits made lo the charity. The Charity is reliant on grant funding. Following the lodgement to the Commission of the charity's first set of Financial Statements. the charity has been able to apply for a wider range of grant funding from different donors and charitable trusls. Performance of Fundraising The lable below demonstrates the fundraising performance against target for the financial year. Funding lype Target Actual Community Funding £450.000 £469.155 Donations and grants £200,000 £303,018 Patron Scheme £40,000 £59,950 TOTAL £690.000 £832.133
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Investment Policy) Reserves and Risk Management Investment Policy Aside from retaining a prudenl amount in reserves each year most of the charitys funds are to be spent in the short term so there are few funds for long term investment. Having considered the options available, the Trustees have approved to invest Ihe small amount of surplus ihal it has available in an inslant access savings account. Reserves policy We have a formal Reserves Policy which requires unrestricted funds to be equivalenl to three monihs, expendilure of ihe charity. This is reviewed annually. Amount of Reserves Held Al the year ended 31 sl March 2025, the charity held £77,998 in unrestricted funds and £79,045 in reslricted funds tolalling £157,043. The Charitys free reserves at 31 st March 2025 was £76.681. Veterans into Logistics Trading Company Limited Any profit from Veterans into Logistics Trading Limited will be donated to Veterans into Logistics CIO. Thereafter: The General Managei and Arnba5sadors have reviewed how the trading company operates and are working on a proposal for the trustees to consider regarding the outsourcing of training. In addition, there is a proposal undei consideration to evaluate ihe use of its dedicaled iraining site. A review of employee and management structures has been completed. Funds in deficit The charity does not have any funds materially in defi¢il, nor was ihe subsidiary in defi¢ii on 31 si March 2025 Risk Management A risk assessmeni review is Carried out annually f(>r the major risks to whi¢h the eharily Is exposed. The risk registÈr has been updated accordingly. Where appropriale, syslems or procedures have been established to miligale ihe risks the chartty faces. Significanl external risks lo funding have led to the development of a stralegic plan which will allow for the diversification of fLJnding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projecls. Procedures are in place to ensure Compliance with health and safety of staff, volunleeis, velerans and visitors lo ihe office. There is a continuous improvement program in place to ensure a consistent quality of delivery for all operational aspects of the ¢harily. These pro¢edures are periodi¢ally reviewed to ensure Ihal they ¢ontinue lo meet the needs of the charity. plans for Future Periods The Charity plans to continue the activities outlined above in the forthcoming years subject to satisfactory funding arrangemenls.
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Organisation Structure, Governance and Management Governing document Veterans into Logistics is a Charitable Incorporated Organisation (CIO) governed by a constitution drawn in accordance with Charity Commission Guidance Note CC22b. Subsidiary The charity has a wholly owned subsidiary Veterans into Logistics Trading Ltd.. a private company {incorporated in England and Wales) limited by shares. Veterans into Logistics charity number 1198343 is the only shareholder of Veterans into Logistics Trading Ltd., and any profits made are donated fully to Veterans into Logistics CIO. Recruitment and appointment of new trustees The appointment of a new trustee is by appointment only. The charity actively seeks oul individuals to support the interest of veterans and to be a board champion for each of the charity's key functions. Organisational structure Day-to-Day Operations: The running of the day-to-day operations of the Charity is delegated to the general manager. The general manager apportions work amongst the staff of the charity and reports to the Trustees. Decision making The Board of Trustees has the responsibility of discharging the following matters.. Strategic Agreement of and the approval of any changes to the Charity's Vision. Mission Statement and Values. Review and approval of the Charitys Strategic Plans. Review and approval of the Charity's Annual Business Plans. Agreement of the overall Risk Appetile for the Charity. Approval of all matters to be put to members at the AGM; and Changes to the Constitulion. Strurtural Determination of the size. structure. and composition of the Board of Trustees. Monitoring of the effectiveness of governance struclures in the Charity.
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Governance and Decision Making (continued) Appointments and remuneration Appointmenl and the review the performance of ihe Managing Director. Appointmenl and review of the performance of the Trusts and Grants Consultant. Election of the Chairperson, and the members of any sub-committees,. and Development of the Board of Trustees Succession Plan. Financial matters Agreement of significant changes to Accounting Policies. Approval of the Annual Report and Accounts. Approval of long-term cash deposits of over £50,000; and Approval and payment of the expenses of the Charity as it may deem necessary or expedient. Corporate governance matters Ensuring the Charity complies with all Legislation. Regulation. and the Charities Code of Corporate Governance. Delegation, monitoringy and control The Board of Trustees is responsible for the overall governance of the charity. This includes.. Agreement of key Policies and compliance wilh them. Conducting a formal and rigorous annual review of the Board's performance and that of individual trustees., monitoring the charity's performance against its objectives. Agreeing the appointment of external accountants and their fees. Establishmenl and approval ofTerms of Reference for sub-committees and any amendmenls to IhoseTerms of Reference. Receiving of reports from sub-committees. Review the Risk Framework of the Charity.. and Overseeing the Charitys systems of control, inspection, and report. Other Approving the levels of insurance cover, including trustees. and officers. liability insurance. Authorising the execution of all legal documents and other instruments on behalf of the charity.
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Statement of Trustees, Responsibilities STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance wilh applicable law and Uniled Kingdom Accounling Slandards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the situation of the charity and of the incoming resources and applicalion of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees 8re required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities Statement of Recommended Practice (SORP) (FRS 102} make judgements and estimates Ihat are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charily and lo enable them to ensure that the financial slatements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assels of the charity and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. The Irustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions. The Truslees, Annual Report has been prepared in accordance wilh the Charilies Statemenl of Recommended Practice (SORP) (FRS 1021 and the special provisions applicable to small companies under the Companies Act 2006. Approved by order of the board of trustees on Wednesday 28th January 2026 and signed on its behalf by.. D G Warburton-Broadhur$t Chair. Board of Trustees sign by.. 392E17DFW1444A.. 13
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E Independent Examiner's Report I report to the Charity trustees on my examinalion of the accounts of Veterans Into Logistics (the Trust) for the year ended 31 March 2025. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying oul my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b} of the Act. Independent examiner's statement Since your charity's gross income exceeded £250.000 your examiner must be a member of a listed body. I can conf irm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm Ihat no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act.. or 2. the accounls do not accord with those records,. or 3. the accounls do not comply with the applicable requiremenls concerning the form and content of accounts sel out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that Ihe accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Vivien Hill FCA TC Group Park House 200 Drake Street Rochdale Lancashire OL161PJ 28 January 2026 14
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total (unds 2024 Total funds Unresthcted funds Restricted futtds Notes INCOME AND ENDOWMENTS FROM Donations aiid legacies 649,072 20&346 857.418 740,765 Inve51inent income O¢her income 842 14,270 842 14,270 99 4.289 Total 664,184 208,M6 872,53 745,153 EXPENDITURE OY Raising 3SS,21)4 35S,204 407,925 Charitablc activities Charilablc r.xpetidiiur¢ 280 186 181778 298.%98 Total 63S,390 181,778 817,168 706,523 NET INCOME 28,794 2&568 55J62 38,630 RECONC.ILIATVON OF FUNDS Toial fiindb bwu¥hi forwdrd 49,204 52,477 101,681 63,051 TOTAL FUNDS CARRIED FORWARD 157043 The notes form p3rt of these finaiicial statements
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS BALANCE SHEET 31 MARCH 2025 2025 Total funds 2024 Total funds Unresthcted funds Restricted futtds Notes FIXED ASSETS Tangible assets Inv¢sim¢nts 1.316 15,0 I516 25,489 lJ17 Is,000 16J17 25,490 CURRENT ASSETS Stock Debtvts at bank and in h3nd 224 6•,231 54.352 L4 94,178 7.31)7 94,178 71 101,485 64.045 165,530 116.807 CRF.DVTORS ATnOUllts fallinLF due withiii oiie year 124,8041 124,8(141 140,6161 NET CURRENT ASSETS 76,681 64,045 140,726 76,191 TOTAL ASSETS LESS CURREiNT LIABILITIES 77,998 79,045 147,043 NET ASSETS 157043 FUNDS Unreslricled fund R¢tricted tllnJs 77,998 49,204 TOTAL FUNDS 157 043 The financial siaiemvnts w¥re aPPTuved by the Board o( TtusieES and aulhot1s fuT ISSUE un 28 Jartuary 2026 and were signed on its behalf by.. Sign•d by.. 392E17DFO81444A D G Warburton-Broadhur8t- Trust¢¢ The notes foTm p3rt of these finaiicial statements
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS CASH FLOW STATEMENT FOR THE YEAR ENDED 31 lARCH 2025 2025 2024 Notes CA5h tIvw5 frn]]] uperatiJ]g activitie5 Ch generated from op¢rations Interest paid 16,158 137,0831 56 Net cash pr()vided hyllused inl opernling activitie 16.158 37,1391 C#5h fro]J] inve51in¥ *ctivitics Pur¢hasL of iangiblc fixcd asscis Sale of tangible tixpd assets Tnicrcsi Tccciv¢d 137,8201 5,462 99 Net Cash provided byllused in) investing aetivilies 842 32,2591 c.hange in cash and cash equivalents in the reportittg period Cash and cash equivalents at the he¥nIng of the reporting periud 17,(H)O {69,3981 54,352 123,750 Cash and cash equivalents at the end of the reportlllg perlod The notes form p3rt of these finaiicial statements
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS OTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 lARCH 2025 RF.CONCVV.IATION OF NF.T VNCOMF. TO NF.T CASH FI.OW FROM OPF.RATING ACTVVITIF.S 2U25 2024 NL't InLU]ne for the reporting period (as pcr the StatemeJ]t of Financial Activities) AdjustmeMt$ for: DepiEciatioii charges Loss on disposal of fixed assets nlerest received Inierest paid Decrease in %tocks Increase in debtors Decase in creditOTS 55,362 38,630 9,173 9.173 6,702 1991 56 1.496 134,7821 58.259 18421 224 131,9471 15,812 Net cash provided byllused in} operations 37.0831 AP4AV.VSIS OF CASH AND CASH F.QUIVALF.NTS 2025 2024 Cash in hand Notic¢ deposits (less than 3 monihsl 402 70,950 403 53,949 Total cash gnd ¢h ¢qu1I'alts ANALYSIS OF CHANGES IN NET FUNDS Al 1.4.24 Cash floiv At31J.25 Net eash C&sh at bank and in hand 54,352 17,11011 71,352 S4,352 17,000 71,352 T(ktal The notes form p3rt of these finaiicial statements
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE FINANCIAL sTATEMETs FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POI.VCIF.S Basi5 of preparlng the flnanclal statements The financial staternents of the cliarily. which is a piiblic benefit entity ullder TrRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'AccountJng and Reponing by Charities.. Stat¢m¢nt of Recommendtd Practice applicable to charities preparing theii- accounts iii accoi-dance willi the Financial Reporting Standard applicable iii the UK and Republic of Ireland IFRS 1021 leff¢ciiv¢ l January 2019),. Financial R¢poriing Slandard 102 'The Financial Reporting Standard applicabl¢ in Ilie UK and Republic of Ireland, and the CliaTilies ALt 2011. The financial slaleinents have been prepared under Ilie historical cost Conveniion. wilh th¢ excepiion of inN'¢slttients 'hICh ar¢ 1nclud¢d ai market value. Th¢ trustccs ¢ons1dcr thai Ihwc arc no maicr1al unccria1n11¢s about thc charity's ab11iry to coniinuc as a going con¢cm. Critical a¢countillg judgements kei. soyrees of estimation uneertainty In the process of applying the enliry's accoiinling policies maiiageiiienl liave not rnade any jiidgenienls that woiild have a significant Cffcct On thc amounts r¢cogniscd in thc financial siaicmcnis. No tstimatitsns hav¢ b¢cn madc that would hai'¢ a significant tisk of causing a inateTial adjuslinenl to the catrying aillLTrunl& of assets. and liabilities within the next fiiiancial yeaT. lllcornc All incomc is rc¢ognised In thc Siai¢mcni of Financial Aciivitics once ihc charity has entitlcmcni to thc fvnds, it is pts)bablc ihat the income will be received and the amouiit can be measuTed reliably. Expenditure Liabililics ar¢ r¢¢ogniscd as cxpcnditurc as soon as thcre Is a Icgal or consiruetive obligation committing thc chatity 10 that expendilui'e. it 1£ probable that a Iransler of economic benefits 111 be required in fietlleinent aiid the amount of the obligation can bc M¢r¢d rcliably. Exp¢nditur¢ is aceounicd for on an accruals basis and has bccn classificd under hcadings thai aggrcgatc all cost T¢lal¢d to the ¢3t¢gory. Where costs ¢3nnot be dir¢dly attnbuted to particular h¢adings they have b¢¢n allo¢al¢d to activities on a basis eon&i51enl wilh the use of resouT¢es. Tanglble fixed asset5 Depi-eciation is provided al the following annual rates in ordei- lo wite off each asset over its eslim£11ed useful life. Plant and machinery Moior v¢hiLIcs Coinputer equipinent 33/0 on cost 250/b on r¢du¢ing balance 20O/y on cost Stocks Stocks arc valucd ai Ihc low¢r of cost and nci rcalisablc valuc. after making Juc allowancc for obsolci¢ and slow moving ii¢ms. Taxatlo The charity is exempl frnill t on ils charitable activities. Fund accounting Unreslricled fund5 can be used in accordance with the charitable vbjectives al the discrelion of the Iru8lees. Reslriuled funds Lan LTrnly be used fuT partiLuldr t#slriLled purpose within the LTrbjeLls vf Iht bharily. R¢slriLlions wlign pecified by the donor or when fi]n&£ are Tal.4ed for particulaT Te£tricted purpo4. Further explanation ot'lh¢ natur¢ and puws¢ of each fund Is included in the notes lo the financial slalem¢nLs. Fillancial instruments Debiurs Ti'ade and olh¢r debtors are recognistd at the selllement ainount du¢ 3ft¢r any trade discount off¢red. Pr¢payin¢nls 3r¢ value4J al IhE atnuunl prepuid nel uf any trade diswullts dug. al bank and in hand Cash al baiik and in hand includes cash and short term highly liquid Inv¢strn¢nis with a short maiurlty of ihr¢¢ months or less from th¢ dai¢ of acquisition or oning of th¢ dLyosit or similar #¢¢ourtt. clt0T& and ovision
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE FINANCIAL STATEMENTS- tontithued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POI.VCIF.S- eontinued FlnancSal instruments Creditors and prO.1510S are recognised where the chatity has a ptesenl obligation iEsuliiiig from a past event that will probably result in the trgnsf¢r of funds to a ihird pany and the amouni due to settl¢ the obligaiion can be measured or ¢siimai¢d reliably. Creditors and proTrisions are nonnally recognised at their settlement ainollnl after allowing foT any trade discoiints due. DONATIONS AND LEGACIES 2025 2024 Donaiions Gifi aid Donation from Veterans Into Logistics Trading Litnited (i17lit Commiinity fundraising Patron S¢h¢in¢ Sportsorship events 58,874 5,7Y8 341 2321.346 469,155 59.950 24,954 58,655 42,898 138,0(12 460,791 40.419 857,418 740.765 Grants r¢¢eiiied, included in th¢ aboN¢, gr¢ as follows.. 2025 2024 Gr¢ai¢r Man¢h¢si¢r High Sh¢nffs Polic¢ Trusi The PvslLude NeightM)UthuLNI Trust LAndsec Futures C.onimuniry Grani Th¢ Barber Chavct Trust The Veteranfi Foundation Ealary fjrnnl The Worship] Cunipany of WeaveTS A r¢slrict¢d dongtion troin an individual The All Am)s VelerJns MuluiLycle Club D¢s1gnat¢d Yorkshire Fund1ng The Lollon Industry Wai MemoTial Trust Thc C.hariry Scrvicc East Midlands Region H¢ywood Township Fund The VeteTans FoundatiDn- Capital The SLr¢wfix Foundaiitsn Armed Forces Coienanl TrLisI Flind King c.harles ITT Charitable Fund The Iiiman Lharily Togcihcr Charirablc Foundation The Hedle}' Foundation Th¢ fJrap¢rs' Chgriiabl¢ Fund The Cfface Ttu%l S¢d¢ll-Co111ngs Founda110n Garfield Weston F'oiiiidalion The V¢itrgns' Foundation Major Grant The Veterans, Foulldaiian %t3ndard lJr3nl Ford Bri&in Trust Fiind 2,500 25,(KlO 2.¢YJO 15,(XlO 20.0 14,176 6,iYJO ,500 3.364 lo,(0 2.997 I,0 2.876 30,000 4.089 Is,000 20.000 iu.000 2,991 33,561 2.5UO 7,701 3.051 1.5,000 3.051 10,000 21).UU 2Y.g11 23¥.346 138.OU2
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE FIi%ANCIAL STATEP+qENTS- Continued FOR THE YEAR ENDED 31 NIARCH 2025 INVESTMENT IYCOME 2025 2024 Deposit account illterest 842 99 RAISING FUNDS Raising donations and legacies 2025 2024 Staff costs Con)munily funding collcciions Fundrai8illg cost Markeiing and websi Consultancy Tr#vclling cxpcnscs 35,727 345,768 6,057 14,877 5.496 4.5111 4,777 29,467 2,865 J5S2O4 407,925 CHARITABLE ACTIVITIES COSTS Direct Cosis {scc note 61 Support cosis Isce note 71 Totals Charitsble Expenditure 15.034 DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 Staff Lusts RenL swvice chargts and insurance Teleplione Postag¢ and siation¢ry gundiies Training costs MotOT eXliSeS Repairs and renewals Menibersliip and %ub%criplions Trav¢1 ¢xp¢nses Depreciation Loss on salc of assets 200,271 6,162 ,012 224 7¥3 184,776 39.953 2,164 260 2,152 9.173 97,112 178 780 163.069 .495 578 3.489 9,173 6.702 44&93 282.585
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE FINANCIAL sTATEIENTS- £o]Jtinued FOR THE YEAR ENDED 31 MARCH 2025 SUPPORT COSTS (iovemance costs Finance Tothls Charitsble Exp¢ndiwr¢ 2,924 12,110 15,034 TRUSTEES, REfiuNERATION AND BENEFITS Thue We no Itustees, Temuneraiivn or Uth b¢nvfilS fvr the year endvd 31 March 2025 nvr fur Ihv y¥arended 31 Marih 2024. Trustees, exptnses TheTe weTe no ttustee ineeting expenses in the yeai1£180- 20241. STAFF COSTS During Ilie yeaT elided 31 March 2025 the average niimber of staff wa5 812024- 41. No einployees received emoluments ill excess of L6U,00012024- None). The tutal salaties paid to key inanagen]ent personnel in the yeai £68,06712024- £89,761). COMPARATIVES FOR THE STATEMEIYT OF FINANCIAL ACTIVITIES Unrestricied funds Resirici¢d funds Tora] fiinds INCOME AND ENDOM'MENTS FROM Donations and l¢gacics 644,764 96.001 740,765 InNcgtmLni itteome Other income 99 4.289 99 Totsl 649 152 745 153 EXPENDITUREON Raising fiinds 407,925 407,925 Charltble *etlvlties Chai'itable Expenditure 199.493 99.105 298,59 Total 607.418 99.105 706,523 NET INCOMEIIEXPENDITURE 41,734 13.1041 3R,630 RECOjCILIATION OF FUNDS Total funds brought forward 7,470 55,581 63,051 TOTAL FUNDS CARRIED FORWARD 49.21)4 52.477
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE FINANCIAL STATEMENTS- tontithued FOR THE YEAR ENDED 31 MARCH 2025 TANGIIII.F. FIXF.D ASSF.TS Plant and ma¢hinLry Motor vLhi¢lcs ComputeT equ1pm¢nt Totals COST At l April 2024 and 31 M3Tch 2025 311.0110 36.270 DEPRECIATION At l April 2024 Charge for year 2,1)94 .047 7,500 ,187 626 10,781 9.173 At 31 March 2025 3,141 15,000 19,954 NET BOOKVALUE At 31 March 2025 16 At 31 March 2024 1.048 2?.500 25.489 12. FIXED ASSET IWESTMENTS Sh3r¢s in group undertakings MARKET VALUE At l April 2024 and 31 MaT¢h 2025 NET BOOK V.4LUE At 31 March 2025 At.31 March 2024 ThcrL wcrc no Inlcstmcni agts outsidc thL UK. Thc inv¢simcnt rclatcs to thc sharc eapiu81 of thc trading subsidiary VLtcrdns Into Logi%lic8 Trading Ltd. 13. STOCKS 2024 Siobks 224 14. DEBTORS.. AMOUN'IS Tr ALLING Dub WITHIN YEAR 2024 Trdde dcbtors l)ther debtors 51,792 10,791 29,572 2.1123 32,781 VAT 27,117 Prepayments and accrned income
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE FIi%ANCIAL STATEP+qENTS- continued FOR THE YEAR ENDED 31 lARCH 2025 15. CREDITORS: AMOUNTS FALLING DUEWITHINONE YEAR 2025 2024 Trad¢ creditors Taxation and social security Other creditors 13,664 740 19,545 ,045 24 40.616 16. MOVFMF.NT IN FUNDS Nei mov¢meni in funds At 31.3.25 At 1.4.24 Uthrestritted funds Gcncral fvnd 49,204 28,794 77,998 Restricted funds ASDA LoLTlStics SeTVites Cab1n¢t Off1C¢ Greater Maiiche%leT High Sheriffs Police Tst ThL Vcicrans Foundaiion Salary Grani A reslricled donation fiDm ali individual Degigtrnaied YtsTkshire Funding The C.ottoii Industry War Memorial Trust ThL Charily Scrvie The VeteTan% Foundation- Capital GT3nt Thc Scr¢wf1¥ Fouttda110n Eg%t Midlaiid£ Reoion HLyivood To¥vnship Fund The Iiinian Charity Arm¢d Forces Covenant TNst Fund Tageilier Chai'ilable Foundation Se41ell-Collings Foundaiion Th¢ Grace Trust Garfi¢lcl W¢stsJn Fuundalivn Thc Hcdlcy Foundation Kin¥ Charles III chilable Fund Ford Tlritain Trust The Molo Poundation 1,968 11,968) 373 11,665 2.949 313 4.874 12 22.500 2,593 1,000 2,876 2,50 3,492 11.799) 2,873 ,150 313 5,509 2,991 15,0110 635 2,979 17,500) 12,593) 1,000 305 2 J59 3,618 7,247 10,000 19 2J32 3,051 4,500 12,571) 2,359 3,618 7.247 10,000 2J32 3,051 ,1.12 489 489 79.045 TOTAL FUNDS 101681 1.57 04.3
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE FI ANCIAL STATEMENTS- Cnntinued FOR THE YEAR ENDED 31 NIARCH 2025 16. MOVEMENT IN FUNDS- tontinuLMI Nci mov¢m¢ni in funds, includ¢d in Ihc abovc arL as (ollowts". Incoming r¢sourc¢s Resources exp¢nd¢d Movement In funds Unregtrieted funds Genei-al fund 664,183 163SJ89) 28,794 Restricted futhd5 Asf)A l_Ob)isiics Scrbiccs Cabinet Office Greater Manchester Hi¥h Sheriffs PvliLe Tru1 Th¢ Vetergns Fouiidation Salary Grn1 A rLb1ric'd dvn#iion rtom art IndiNidual The Colloii Industry War Memorial Tru4t The Charity Service The Veterans Fnundation- Capital Cirant The S¢rewfix Foundaiion I1¢Y.90d T0ThShip Fund The Iiimaii Charity Arm¢d Forces Covenant Trust Fund Together Charitable Foliiidalion Scdcll-collings Foundaiion The (trace Trufit Garf1cld W¢Sn Foundaiion The Hedley Foundation King Charles III Charitsblt Fund ord Britsin Trust The Mvlu FLTrundation Tlie Veterans, Foundaiion M3Jor Cjralll The VeieTans' Foundaiion Standard GTant 11,968) 11 J54) 11,968} 11,354} 2,500 3,492 11,799} 635 2,979 I7,5) 12,593} 12.571} 2 J59 3,618 7,247 2,500 20,000 {16,51b8) 11,799) 19J65) 112) 17,5110) 12,593) 12.571) {141) {29,943) {455) 2,991 2,500 33,561 7,702 10,000 3.051 20,000 3,051 5,000 2,500 3,051 52.53 13.032) (17,668) 19 2J32 3,051 4500 1,132 489 {500) IlJ68) 12,562) {52,S.30) 208.347 181.779 26.56 TOTAL FUNDS 872 530 817 168 55
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE fIi%ANCIAL STATEMENTS- cnntinued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- tontinued Comparitlves for movement In funds Net movcmcni in funds At 31.3.24 At 1.4.23 Uthre¥triLted funds G¢nera] fund 7,470 41,734 492(H Re5trleied funds A8DA Logi4ti¢% Servi¢¢s RvLhdale ALtiLTrn Tu¥ethei C.abin¢t Offic¢ Tiusiee ¥ranl Ring of Red M60 Greatei Mancheslei High Shetiffs Police Trust ABF, Thc SoldiLrs C.hariiy Designated North West bunding The V¢i¢rans Foundaiion Salary Grant A reslricled donation flM ali individual DLsignatLd Yorkshirc Funding The Qollon liidustry War Memorial Trust Thc C.hariry Scrvicc Th¢ V¢t¢rgns FouiidJtion- Capital Gra]]t The SLrewfix Foundation East Midlands Region Heywvud Tolship Fund 31,283 soo 1,354 3,598 2.374 628 14,678 1,166 129,3151 15001 1,968 1,354 13,5981 12.3741 1255) 114,6781 373 11,665 2,949 313 4,g74 11,665 2.949 4,874 22.500 2,593 1.000 2,876 22,500 2,593 1,000 2,876 55,581 3,104 52,477 TOTAL FUNDS 101,681
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE FINANCIAL sTATEIENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 17. molfF.lF.NT IN FUNV)S- tontillue41 Comparaiive nci movcmcni ln fvnds, lncludj in th¢ atK)vc arc as follows.. Incoming resources Resources expended Movement in funds Unrestricted fu]Jd5 General fvnd 649,152 {607,4181 41.734 Restricted funds ASDA Logistics Services Rochdale Action Together Tru.£tee grant Ring of Rid M60 (ii'¢al¢r M7 nch¢sl¢r Iligh Sheriffs Police Trust ABF, The Soldiers Charily D¢signat¢d Nortli West Funding Th¢ Velerdns Fvunddlivn Sdldr). Grant The Worshipfiil Coinpany of Weaver A rcsiriLILd dottaiion from an Individual Th¢ All Arms Veterans Mntorcy¢l¢ c.lub Designated YUTkShi Funding The Colloii Industry War Memorial Tru41 The Charily Serviee Th¢ V¢t¢rgns Fouiidation- C3Pltal Grant The SLrewfix FuunddliL)n East Midlands Region HLyivood TONship Fund 12Y,3151 1500) 13.5981 12,3741 12551 114.6781 12gl,3151 151YJI {3.59111 {2,3741 12551 114.6781 20,000 14.176 6,000 1.500 3,364 i(J,ooo 18,3351 1,665 13,0511 2,949 13,0511 313 4.X74 12 22,5( 2,593 I,oon 2,876 12,9851 17,5001 30,000 4,088 I,ooo 2,876 96,001 199,105 3,1041 TOTAL FUNDS 745 153 706 5231 18. RELATED PARTY DISCLOSURES Veterang Into Lkn igiics Tradin Limited Veterans Into Logistics CIO own lo10 of the shar¢ capital of Vet¢rgns Into Logistics Trading Litnit¢d. There were jDint Contract of emplnyinent. and joint administrative and knDk keeping shared betrween Veterans into LDgi4tic Tradi¥ Limited and Veterans ir0 LvgistiLs CIO. Donations ioialling £341 ivere included in Ehe CIO accounts for the year ended 31 March 2025 fmm Veterans into Logistics T17diiig Lid12024 £42,%981- At 31 March 2025 £9,343 due frorn Veterans Iiito Logi.Etic Tradiiig Ltd12024 - Creditor £3,693). and an anioiinl in Trdde CTeditOTS of £13.274. Major D GToves is a Irusiee ofveierans inits Ltsgistic$ CIO and a ditecioT ofveietans inio Lagisiies Tradiiig L. Mr D Wright is an ainbdssadvr and an emplL)yee uf Veterans into Lvgistibs cro, and also a dite¥loT vf Veterans into Lu¥itsliLS Trading Limited Ti?ining costs of 11 I I,(h57 were charged to Veterans into Logi%lic£ CIO by Veterans into Logistics Trading Limited during the year.
Docusign Envelopp ID". D76FE619-EAC04782-950C-080465A8486E VETERANS INTO LOGISTICS NOTES TO THE FINANCIAL sTATEIENTS- tontithued FOR THE YEAR ENDED 31 MARCH 2025 19. RF.STRVCTF.V) FUNDS Asda Lo isii¢s Scrvices The charity was aM'arded £40.(0 lo train 10 people who approached us to be HGV dtivers. Subseqiiently. the charity deterniined to only draiv down th¢ orant to trgin v¢t¢rans. Rochdale Aciion To ¢iher Tliis grant av¥arded lo help veteTans and undeTprivileged local people gain a HGV licence. Cabinet Otyice Giant Th1S b>rani was awardcd by thc M1n1Stcr ol Siatc for E4mploymeni cnabling thc chariiy to cmploy two driving instwcltsrs and adiniiiislralive niana¥er in the peTiod M£7h 2022 to March 2023 Trustee Grant Originally granicd 10 ¢nabl¢ Ihc eharity to housc thosc s¢ud¢nis not from thc norlhwcst in hotcls., during ihc y¢ar Ihc restrictions on Ilie donation hae been widened. Rin of Red M60 Funds wcrc donaicd and used 10 train vcicrans 10 bc HGV dtivcr8 The Greater Manch¢st¢r Hi h SlJ¢riffs Trusi The tirat]I was issued Inr the purchase al. Hi-viz clothiJ]g £750, Learner Plates £22.50 with the balance nf the 15,0IIU ID È< used lo pay t¢st fLcs. B¢nLvolcnt Fund Thc Soldicrs Chant Th¢ charity was awarded a grant from ABF Tli¢ Soldiers, Charity to fvnd specific Anny only veteralls, training ¢QSLS. During Ihe year end M#r¢h 2024. Ihe bharily reapplied 10 use unspent (unds Ishort three months lime5Le] 10 train furihei veterans. This request acceded to. In Augusi 2023 thc charity was aWdd a grant of £40,0 eoniributtijg towards Ihc wag¢s of a training advisor ovcr two ycars. 120,1100 per annum. Tlie Velenans Foiuidalioii- C Veterans inlo Logistics received a grant of £30.(M)O from the Vererans Foundarion 10 be put I0,rdS the purchase of a Iniek. The chaiity appioaclied Volvo UK who agreed to sell not oiie but three tractor unit%..tCk lo the charity al SignificltlY discounted priccs. Thus. cnablinB th¢ charity io pul Ihc rcmaindcr of thc grant I0.arS thc WrappinB of thc tracior units, a purchased trailer and tiailets donated by Asda Logistical SeTvices and Tesco. Restricted donation from an individual Sin¢¢ bL¢oming awarc of Ihe ehariry and lis prLxl¢ccssor Vcicrans into Logistics CIC, Provided funds for th¢ training of vctcrans 3nd provision of equipnI. Tlie ScTewfix Foundatio Th¢ Scrlwfix Foundaiion fundcd th¢ purchasc and fiiiing of a n¢w kiichcn for thc prcmiscs thc Charity rcnis. The Veterans Pdihwa loEm ment In 2025 th¢ chai'ily aimed to supwrt 150 vet¢rgns with fully funded HGV driver training and then Into employment by seeking rcstriLtL¥I and UllTeStriLtcd gani funding, and ineotne from th¢ PatTOn s¢hcm¢ rLf¥ed to In thL TrusteLs Rbwort. To this end, the ¢haTIty Teceived restricted lld$ frotn the following". The c.otton Industry War M¢inorial Trust Th¥ Charily Servile Armed Foi'ce.£ Covenant Tru4t Fund The IninJn ChJiily Together Ch3ritabl¢ Foundation Hcdl¢y Foundation Tbe (irace TrLl£t fjgrlield Il'eston Foundatioll Th¥ V¥lernn$ Fvundaiiort
Docusign Envelopp ID." D75FE619-EAC04782-950C-080465A8486E VETERANS INT() LOGI%TIC N(YfES TO THE FINANCIAL STATEMENTS- tonrlnued FOR THE YEAR ENDED 31 MARCH 2025 19. RESTRICTED FUNDS- contlnued Community fiindTai&ing East Midlands Itiiigfencedl Community Fundraising Yorksh1re Iringfencedl On occasion the manag¢in¢nt of the retailer where Veterans into Logistics collect donations ask that the amount donat¢d b¢ restricted to their particular area of the country. To this eiid, L3,364 wS restricted lo Itaill veletans in YoikshiTe and £1,000 WDS rcstricicd to Irain vctcrans In th¢ East Nqidlands Kin Charles 111 Charitsble Fund This granl ivas awarded 10 provide SLJPPOrt to a HGV driving Insiructor.