2024-03-31-accounts - Air Cadets Surrey Education Trust

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REGISTERED CHARITY NUMBER: 1203149

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD 19 MAY 2023 TO 31 MARCH 2024 FOR AIR CADET SURREY EDUCATION TRUST

Hartley Fowler LLP Chartered Accountants 4th Floor Tuition House

27-37 St George's Road Wimbledon London SW19 4EU

AIR CADET SURREY EDUCATION TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 19 MAY 2023 TO 31 MARCH 2024

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Report of the Trustees 1 to 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Financial Statements 5
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AIR CADET SURREY EDUCATION TRUST

REPORT OF THE TRUSTEES FOR THE PERIOD 19 MAY 2023 TO 31 MARCH 2024

The trustees present their report with the financial statements of the charity for the period 19 May 2023 to 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number 1203149

Principal address

2 The Tithe Barn Ripley Road East Clandon Guildford GU4 7SE

Trustees

Nigel Simpson - appointed 19/5/23 Richard Dennis Cowel - appointed 20/3/24 James Neil Morris VR JP - appointed 20/3/24 Philip Andrew Lucas WGCdr RAF - appointed 20/3/24 Karen Parker - appointed 14/3/24 Grenville Williams - appointed 19/5/23 Steven Richards - appointed 19/5/23 John Silver - appointed 19/5/23

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Organisational structure

The Charity is constituted as a Charitable Incorporated Organisation (CIO) Foundation, as a body under Part 11 of the Charities Act 2011 on 19 May 2023. The CIO registered with the Charity Commission on the same day.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

OBJECTIVES AND ACTIVITIES

Objectives and aims

To advance the education of young people and promote the efficiency of the Armed Forces of the Crown, in particular but not exclusively by making grants to support the charitable activities of the Royal Air Force Air Cadets in the Surrey Wing (being the grouping of Air Cadets squadrons in Surrey).

Significant activities

The CIO was set up to take over the remaining assets of Trust Property in Connection With Wimbledon Air Training Corps Headquarters (Charity number: 1072525). As at the year end, the transfer of the assets had not taken place, therefore the CIO was dormant for the period to 31 March 2024.

Public benefit

In planning the activities of the charity the trustees have had due regard for the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The CIO was dormant during this period.

FINANCIAL REVIEW

No transactions took place during this period.

FUTURE DEVELOPMENTS

The transfer of the assets are expected to take place in the year to 31 March 2025.

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AIR CADET SURREY EDUCATION TRUST

REPORT OF THE TRUSTEES FOR THE PERIOD 19 MAY 2023 TO 31 MARCH 2024

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
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 time the financial position of the charity and to enable them to ensure that the financial statements 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 assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 20 December 2024 and signed on its behalf by:

Nigel Simpson - Trustee

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AIR CADET SURREY EDUCATION TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 19 MAY 2023 TO 31 MARCH 2024

Notes TOTAL FUNDS CARRIED FORWARD CONTINUING OPERATIONS All incoming resources and resources expended arise from continuing activities.	£ -

The notes form part of these financial statements

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AIR CADET SURREY EDUCATION TRUST BALANCE SHEET AT 31 MARCH 2024

Notes TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 3 TOTAL FUNDS	£ - - -

The financial statements were approved by the Board of Trustees on 20 December 2024 and were signed on its behalf by:

Nigel Simpson -Trustee

The notes form part of these financial statements

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AIR CADET SURREY EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 MAY 2023 TO 31 MARCH 2024

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

The charity was dormant throughout the period ended 31 March 2024.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds 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 included in the notes to the financial statements.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31 March 2024.

3. MOVEMENT IN FUNDS

	Net movement in funds £	At 31/3/24 £
TOTAL FUNDS	-	-
Net movement in funds, included in the above are as follows: Incoming resources £	Resources expended £	Movement in funds £
TOTAL FUNDS -	-	-

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