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benevolence and mutual support eo a = io a = to former members of the ATS i i) i ir Soa SS = - fa and WRAC and exert infl uence within the military charity sector —— —— = —— = = to broaden support for female | BS aiefe eeI ee ADEAeanSe

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BENEVOLENCE SPEND £188,753 spent on 163 beneficiaries COMRADESHIP 572 Branches meet every month around the globe (mostly in UK) Members attended national events 73 MEMBERSHIP 3000" Members

Vice President Brig (Retd) Fiona Gardner CBE

The year started in the shadow of the Covid pandemic, but as restrictions lifted we could resume activities to renew friendships and comradeship. Our Grand Reunion was a roaring success with over 350 members joining a weekend of celebration in Leeds in March and in May we remembered the 26 members of the ATS killed in a 1943 air raid in Great Yarmouth. In July we dedicated a new WRAC tree in the line of antecedents at the National Memorial Arboretum, and we attended Remembrance in person

at both the Cenotaph and in Guildford.

Our new structure has now bedded in. The CEO, Paula Rogers, is established as the driving force within our Headquarters, whilst the Membership Council has grown in strength and influence; leading events for our members. The Board of Trustees have said farewell to Barbara Davies, replaced as Treasurer by Tim Savage. As Trustees our focus has been on Influence, and we have established a strong Association voice within Cobseo and the Army.

But the year has been overshadowed by the death of Her Late Majesty Queen Elizabeth II. As the nation remembered our Sovereign, the Association mourned our Queen, our Patron, one of our ATS members. I was very proud to represent the Association at Her Majesty’s funeral, a most moving and poignant event. A special edition of the Lioness was produced to commemorate her reign, and her strong connection to the ATS, the WRAC and the Association.

Chair of the Membership Council Lt Col (Retd) Rowena Naile MBE

The Membership Council exists to further the object of the Association, mainly by providing social gatherings to foster friendship amongst women who have served and those still serving and provide comradeship to our Members. To that end in 2022, we organised 4 events open to all members - the Grand Reunion in March, Commemoration of the ATS memorial in Great Yarmouth in May, Tree dedication at the National Memorial Arboretum in July and a Service of Thanksgiving for

HM the Queen in September. To enable as many members to participate we live stream as many events as the weather allows us. Other events are organised through the Association for external agencies but are for limited numbers e.g. only 100 tickets for the Cenotaph on Remembrance Sunday.

The Branches and Groups remain the main focus for providing comradeship and these all work in different ways depending on the numbers and age of the members. We have been unable to recruit an Area Coordinator for the Central Area and as a temporary measure the four branches have been allocated to neighbouring Areas to ensure that the groups and branches have the support that they require.

Work is ongoing to improve the package for members and the Working Groups – Membership, Lioness, Events and Web (made up of Trustees/Area Coordinators, staff and members) are providing a balance of views to replicate the diversity and wishes of our members. A Membership Pack has been created for all new members and new Area Coordinators.

Chair of the Benevolent Fund Col (Retd) Isabel McCord

The Benevolent Fund awards grants to purchase specific goods, services or facilities for eligible former servicewomen, or their dependents, in need. The focus of these grants is to offer a “hand up not a hand out”.

With 53% of our beneficiaries aged 70+, the cornerstone of our activity remains supporting care for those over pension age with annual maintenance grants, nursing home top-ups and care at home. As energy concerns rose in February 2022, the Trustees agreed to award a fuel crisis payment of £100 to all beneficiaries receiving a recurring grant. A further award of £250 was made in September, with a total spend of £6,780 to alleviate energy concerns in 2022.

The charity gave a Christmas gift of £25 to each of the former ATS and WRAC servicewomen residing at The Royal Hospital Chelsea, and in the four Erskine Homes across Scotland.

Applications received for assistance were up by 61% on the previous year. Sadly the highest spend for one-off grants was for funerals with a spend of £25,706. The total spend on benevolence grants was £188,753, which directly benefited 163 female veterans. Details of how to apply for grants are available on the charity’s website and published in the Lioness. We also produced a poster we would like key players to display in the public domain and have liaised with veteran’s leads within the NHS.

Chief Executive Officer Paula Rogers

It has been a privilege to have spent my first full year working with my dedicated staff team to deliver an active and engaging association for our members. Meeting more female veterans at events throughout the year has allowed me to hear for myself what our members need from us, and target our future plans to meet these requirements. 2022 saw 30 years since the disbandment of the WRAC – a significant year for us and for our members who saw the end of one era and the start of a new chapter for servicewomen.

The WRAC Association’s election to the Cobseo Executive Committee in the summer has given me a seat at the table alongside major service charities including RBL, SSAFA and a host of veteran-facing organisations which deliver so many important veteran provisions across the UK. Working alongside these partners has amplified the voice of female veterans at the top tables, and helps to ensure that their needs will be considered and included in the year to come and beyond.

Our website has a fresh new look, with more content to be enjoyed by visitors to the site and within our member’s section. We continue reaching out to our members through social media, as well as via our Lioness magazine, and are always delighted to receive positive feedback from our members. Offering support and camaraderie in good times and bad, this has been a year of exciting opportunities and strong delivery which I am determined to continue into 2023.

“Membership of the WRAC Association raises awareness of the military in society.”

“The Lioness is a tremendous publication honouring the members of the WRAC Association. I’ve read and re-read the articles.”

“ Today I received the special edition of the Association journal commemorating the late Queen - what a fantastic production. I have to admit I shed a few tears.”

“Thank you for including Mum’s obituary in the Lioness. Mum so enjoyed receiving your magazine and poured over each new edition.”

“Great day for the Tree Dedication at the NMA, excellent service, proud to be there! Met my training NCO from intake 1989.”

“ The Tree Dedication at the NMA was a fabulous day, well worth travelling up from Devon, thank you.”

“My mother greatly valued her membership of the WRAC Association”.

“It’s great a plaque will be unveiled to ensure the 26 ATS ladies killed in Great Yarmouth in 1943 are always remembered.”

“Thank you; I’ve been travelling all day so the link to the late Queen’s Thanksgiving Service for later viewing is much appreciated.”

“Being a part of the WRAC Association & your local Branch gives us all a sense of togetherness, a sense of friendship, loyalty and above all laughter.”

“I found the late Queen’s Thanksgiving service uplifting.”

“The camaraderie and friendship we all enjoy will last a lifetime! Such a unique group of likeminded women. Long may these exceptional reunions continue, THANK YOU.”

‘ AA ie Grand Reunion 2022 S 350 members enjoyed a reunion weekend in Leeds. Here we are listening to our guest speaker at the Gala Dinner.

We know that 49% of female veterans feel less comfortable attending public veteran events and so we encourage female veterans to be WY PETS CULE seen and heard.

We Will Remember Her

© J M BRICOE

On the morning of 11th May 1943, 26 ATS servicewomen were killed when enemy FockeWulf fi ghter planes bombed their living quarters in Great Yarmouth. All were signals operators attached to 103 AA Brigade. Only one survivor was dug from the rubble.

The WRAC Association is determined to ensure that these servicewomen are remembered at the site where they fell and on their local war memorials. In May 2022 we dedicated a replacement plaque in Great Yarmouth, and recognised the work our members have done to ensure these women will not be forgotten. We will continue the campaign to ensure all servicewomen killed whilst serving their country are remembered on their local memorials.

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The WRAC Association initiated, championed and chairs the Cobseo Female Veterans’ Cluster Group which is currently 40+ members strong. We aim to incorporate the needs of female veterans into the design and delivery of veteran services across the UK.

We are collaborating across government, other charities, statutory and commercial organisations. This innovative work will turn research undertaken into action in areas including healthcare services (including sexual trauma and mental health), pensions and financial stability, care provisions, employment services, enduring effects of Terms of Service (marriage and pregnancy). housing and homelessness, the criminal justice system, self-identification as a veteran, and loneliness.

Loneliness has been identified as an issue affecting a significant number of female veterans aged 50+. We have continued to gather evidence as well as providing support to those of our members who are facing loneliness.

We and our members have contributed to the Independent Review into the effect that the pre 2000 ban on homosexuality has had on LBGTQ veterans; Lord Etherton’s report is due in 2023.

We have taken a leading role to understand the issues around previous terms of service on Marriage and Pregnancy, collaborating with our peers within the Navy and RAF. We hope to have a clear picture of the different experiences of women in the Armed Forces in order to better support their current needs.

Combat Stress,

Prof Dominic Murphy MA PhD DClinPsy, Exploring the Needs of UK Female Veterans, 2021

Proud to work alongside:

“When I told Mrs R about the award, she burst into tears and stated that she had just been wondering how she was going to pay all these increasing bills. She is really grateful and always thanks me for the help she gets from SSAFA and the Benevolent Fund. Thank you.”

From a SSAFA Caseworker helping a female veteran who needed extra money each week to pay her bills. Mrs R now receives £50 per week as part of an Annual Maintenance Grant.

“A HAND UP, NOT A HAND OUT, BASED ON REAL NEED”

“Thank you so much for helping my client. She is absolutely delighted and very grateful for your support. Her son is her carer and now their lives will be much easier with these items. Thank you very much.”

From a SSAFA Caseworker helping a female veteran who needed essential white goods for her home. We sent £239.

“Thank you for all your assistance with this WW2 veteran’s request for home help costs, it’s greatly appreciated. Kind regards.”

From a SSAFA Caseworker helping a female veteran who needs help with the costs of her care. We send £100 per week as part of a Care Enhancement Grant for Care at Home.

Lesa and Liz

As well as paying out vital funds to support female veterans in their time of need we began the Buddy Buddy Scheme during the pandemic in order to combat loneliness. 3 years later Buddies are still chatting on the telephone and we continue to Buddy up veterans with one another or a current servicewoman as an important part of our work to support female veterans.

“Buddy Buddy has made my membership worthwhile”.

Sharon and Irene y I ————————— KEEP CALM AND BE A BUDDY

www.wraca.org.uk/support

or call 0330 400 1992

BENEVOLENCE SUPPORT

Xmas presents bought for our ladies residing in the Royal Hospital Chelsea and Erskine Care Homes for Veterans in Scotland

ladies are helped with Nursing Home Fees 52 household goods purchased £6,780 £5,022 spend on Fuel Crisis payments to spent on EPVS 18 beneficiaries 195+ 18=213 requests for assistance 163 £188,753 were successful total spend

Message from the Vice President, Brig (Retd) Fiona Gardner CBE

The next year brings opportunities and challenges. As the cost of living crisis bites we will continue to support members and more broadly any ATS or WRAC veteran who is in need through the Benevolence Fund. Our major event this year will take us to the new Worthy Down to explore our place in the AGC(SPS) antecedents. The Association branches continue to provide events and gatherings to provide comradeship and companionship for members across the country.

We will further develop our infl uence in the female veteran sector, especially through the Cobseo Female Veterans Cluster Group and the Cobseo Executive. We are leading a review of loneliness, and taking forward work to better understand the impact of historical policies that resulted in discharge on marriage, and on pregnancy. We will continue to contribute to research and calls for evidence to ensure that our members’ perspective is recognised and included in the evidence base that informs charitable, policy and political decision making.

The Trustees are developing our strategic approach to volunteering to ensure that all our volunteers are properly supported, and their skills and energy are valued and utilised. The Membership Council will translate that strategy into action, and it is hoped that the numbers and diverse skill sets of volunteers will grow and fl ourish in the Association. An expectation that the 2021 census data will allow us to see how many female veterans live in the UK provides an exciting opportunity to reach out to many more prospective members.

Thank you to our volunteers who help to keep the Association running and our superb fundraisers, who raise much needed funds but boost morale amongst the membership at the same time.

to reach out to many more prospective members. is ‘aia amongst the membership at the same time. ahi r . ae < = = 7, = <5 ee a ae an eae = a, a 4 pt = Ps ; *. = -_; :| cf » % \ A ce = ee te - i \ =n fc -_som as 7, at 1 . ar i Pome are LIQNESSES _a Se ce!Se r ANDY Tal

WOULD YOU LIKE TO HELP?

Our Annual Report shows you some of the work we do to provide camaraderie, benevolence and mutual support to former members of the ATS and WRAC and our work to exert infl uence within the military charity sector.

If you believe what we are doing to better the lives of female veterans is important please help us.

There are lots of diff erent ways you can do this

Visit our website www.wraca.org.uk to:

make a donation
pass this brochure on to a key player in your community
consider the WRAC Association in your will
ask for some posters to put up in your community
encourage a female veteran you know to join us
direct a female veteran you know who is in need to SSAFA or RBL so that we
can help her.

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Supporting Female Veterans

WRAC Association

Unit 11, Basepoint Business Centre, 1 Winnall Valley Road, Winchester, Hampshire, SO23 0LD Tel: 0300 400 1992 (local rate call, including mobiles) info@wraca.org.uk or benfund@wraca.org.uk www.wraca.org.uk

President Her Royal Highness The Duchess of Kent GCVO Registered Charity Number 206184, founded in 1919

Registered Charfly Number 206184 REPORT OF THE TRiISTEES AND FIMANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 FOR THE WOMEN'S ROYAL ARMY CORPS ASSQGIATION Rolhmans Audit LLP Chartered Accountants & Ststulory Auditors Avebury Houso St Peter Slreel Wlnchester Hampshlre S023 88N

THE WOMEM'S ROYAL ARMY CORPS ASSOCIATION Page 1 REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 The Trustees submf( Iheir report and the financial stslements of the Women's Royal Amy Corps Association for the year ended 30 September 2022. The Trustees agree on the broad str3te9y and areas of acts'vity including the policies for grant making. investments, and reserves. The management of As50cialion staff and other charity management responsibilities are delegated lo the Chief Executive Officer. The charitable Object of the Association is.. To promote the effiBiency of the Army by.. Maintaining contact between former members of Queen Mary's Auxiliary Corps IQMAACI. the Auxiliary Territorial Service IATSI, the Auxiliary Territorial Service Terrrtorial Amiy IATS TAI, Women's Royal Army Corps IWRACI, Women's Royal Army Corps Territorial Army (WRAC TAI, WRAC Territorial and Volunteer Reserve IWRAC TAVRI and women Still seNing in the Army, ftsstering mutual friendship between them and providing for soaal gatherings. Fostering eswil de corps, comradeship, welfare and preserving the traditions of the QMAAC, ATS, ATS ITAI, WRAC. WRAC ITAI and WRAC (TAVRI. The adminislralion and actlvilies of the WRAC Association are governed by the WRAC Assaeiatyon Constitulion 2021. The Trustees have referred to the guidance Contained in the ChaTilies Commission'5 general guidance on public benefit when reviewing the aims and objectives and in planning the future activities of the charity. In particular, the TNslees consider how planned activities wll contribute to the aims and activities they have sel. CHARITABLE ACTIVITY The charity settled into its new structure well and all Trustee and Membership Council rneetings took place in person this year. Working Groups for subject areas i.e. Lioness and Events incoTporate a cross secty'on of staff, MembeTship Council, Trustee and members, lake place on a regular ba515 and are the foundation of much of the charity's business. Working Groups lake place in person wf(h the 3ddrtional use of online tools. better enabling all parties to attend. The year commenced wth the Remembrance parade at the Cenotaph and service in the Garden of Remembrance taking place in person after the gap due to the pandemic. 2022 saw a successful Grand Reunion held in Leeds attended by 350 members. In May the 'VVe wll Remèmber Her, Campaign was launche(J in Grè81 Yarmouth, honouring the 26 ATS servicewomen killed when their accommodation was bombed in 1943. July saw our Members gather for a service and pi¢ni¢ at the National Memorial Arboretum to dedicate a tree lo the WRAC. Throughout Ihe year many smaller gatherings look place alongside regular Branch meetings In person again. And sadly had the occasion to hold a Service of Thanksgiving for HM Thfr Queen. The Lioness was distributed lo all Members as usual, along wth a third edition marking the special relationship the Late Queen held wlh the Association. This vtds particularly well received by our membership. Applications for 8enevolence increased aB a direct Tesutt of Case Workers ability lo visit veterans in their homes. Additionally Trustees agreed lo make Fuel Crisis payments to all those already in receipt of annuities. The Buddy Buddy Scheme Gonlinued to pair up veterans with each other or with serving women for the benefit of phone calls. FINANCIAL REVIEW Income derived from the investment portfolio 15 the main income stream for both the Association and the Benevolent Fund, supplemented by ad hoc legacies and donations. The Associatr'on also receives income from subscriptions al £10 per member per year.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 2 REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 The Aysociation showed net oulgoings of £53,176. The net loss on investments this year was £194,392 The Benevolent Fund showed nel outgoings of £128,855. The net loss on investments W8$ £894,076. The charity does not a¢lively fundraise or seek legacies, albeit the charity is appreciaiive of those have made provision for the Association in their willg. £4000 was received into Ihe Association comprising 1 legacy and £12,205 comprising 3 legacies into the Benevolent Fund. INVESTMENT POLICY AND PERFORMANCE The inveslmenl objectives are set out in the Investment Policy., to balance income and ¢apitsl returns oveT the long lemi, preserve the real capitsl value of the fijnds and meet the on90ing income requirement5 of the charity. Trustees in$lrucl Brewin Dolphin to manage the charlty's investments. The last 12 month5 have been a ¢hallenging period for investors. During the early part of Q1, investors were initially unnerved by the worsening economic ovllook wlh sharply rising inflation and interest rale5 focusing their attents'on even before the Russialukraine conflict added to fears. Global bond and equ(ty markets $tsld off in tandem, %Mth very few places for investors to hide ex¢epl for ¢ommodib"es, absolute return and the energy sector. While capital values came under pressure, income remained resilient wilh followng wnds from the strength of the mining sector as well as weakening Stoding for returns generated in foreign currencies. Our investment managers transTtioned the portfolios lo a more defensive stance earfy in the calendar year, advising that the portfolios remain well diversified and are Slruslured to withstand the current volatilrty whilst looking to a recovery over the short to medium term. Perfomiance . Total Returns ngt of fe•s 1 October 2021 . 30 September 2022 4.L¥JX 4LYJIS 5.3411 // / //,//////'// Investment returns were £221.247,'comprising £38,956 for the Association and £182,291 for the Benevolent Fund.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 3 REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 At the end of the year market values were 8enevolenl Fund £6.259.001 and the Association £1,408,504. Investment management costs of £38.532 for the year are charged to the wjrtfolio. RISK MANAGEMENT Risk Management IS 8 standing item on the Agenda at Trustees meetings and the Risk Register reviewed regularfy by the Managernent Board. Suc¢es5ion planning for the Officer5 of the Association is an ongoing risk and planning is in place, albeit those in place now are so for 3 years and are 5UPPOrted by the CEO'S ability lo step up. Likewise planning is in place lo manage long term staff absence. RESERVES STRATEGY A Reserves Policy provid&$ essential accountability to funders. donors and other stakeholdeis and is hèld to help the ¢harily operate effi'ciently. The charity uses easily accessible cash from Special Interest Bearing Accounts (SIBAI lo meet the usuèl operats.ng costs. The working reserve is 3 months of the budgeted operating costs and is available from both SIBA and Brewin Dolphin, Liquidity and cash reserves are rnonitored by the Financial Officer and reported quarterly to the Management Board. When reviewng the Reserves Policy Trustees always seek advice on market condilions from the Invesknenl Manager. Al the end of the year the charity held total reserves of £7.724,183 of which £1.404,485 were for Ihe Association and £6,310,169 were for the Benevolent Fund. (Cash reserves al £6.490 IAssn} and £11.021 18enll. In addrtion lo the sum held for the Cobseo Female CluyteT Group £9,529. STRUCTURE. GOVERNANCE AND MANAGEMENT status ofthe Charity The Women's Royal Army Corps Association, incorporating Queen Mary's Army Auxiliary Corps and Auxiliary Territorial Service Comrades Association, is a registered charity, founded by a trust deed in 1919. The Associalion is governed by the rules and regulations set down in the trust deed. Fc41owing advice received from the Charity Commissioner during the year ended 31 October 2000. related bul previously separate charities (The Auxiliary Territorial Service Benevolent Fund & the Women's Royal Army Corps Benevolent Fund, and The Prin¢e85 Royal's Memorial Fund) wère amalgamated wth the Association. The Auxiliary Territorial Service Benevolent Fund was established by a trust deed on 1 August 1944. The Women'5 Royal Army C¢rps 8enevolent Fund was established by a trust deed on 28 December 1950. The Benevolent Funds were cornbined under a scheme of the Charity Commissioner on 28 April 1961. This scheme was superseded by another scheme on 21 October 1964, and subsequent supplemental orders dated 17 Februaiy 1993 and 3 April 1997. The combined Benevolent Funds formed a registered charity, governed by the rules and regulalior15 set down in the amended trust deeds. FOlloAn9 amalgamation with the Associalion, the charitable registration of the Benevolent Funds, under charity number 247793, was removed and the funds were re-regi5tered as a subsidiary charity of the WRAC A550cialion. The Princess Royal's Memorial Fund was established under a trust deed dated 30 March 1966, and was a registered charity, under charity number 248204. Following amalgamation with the Association, the separate charitable regislralion has ceased. Charity Name WRAC Association lincorporaling Queen Mary's Army Auxiliary Corps and The Auxiliary Terriloiial Service Cornrades A$$ocialionl.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 4 REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 Charlty Number 206184 Prinel al Address Unit 11 Basepoinl Business Centre 1 Winnall Valley Road Winchester Hampshire S023 OLD Bankèr Royal Bank of Scotland 31-37 Victoria Road FarnbDrough Hampshire GU14 7NR Auditor Rothmans Audit LLP Avebury House 6 Sl Peter Street Winchester Hampshire S023 8BN Investment Mana Brewn Dolphin 12 Smithfield Streel London EC1A 9BD er Th• Tru$t•wJ and Coun¢ll of the Assoclation The Tru$lees are Ihe Managing Twstees of the WRAC A$$o¢ialion and are.. The Association 1cerS - Vice President, Chair of the Membership Council, Chair of the 8enevDlÈnt Fund and the Treasurer. Elected Members- up to 9. An Elected Member shall be proposed by any other Trustee and is lo be approved by the Trustees. An Elected Trustee Mernber shall serve for an Initial period up to 3 years and thereafter may be re-appointed and Serve lor up to two more consecutive 3 year terms {9 years in totall wrth annual ratification by the Trustees. The Membership Council sets the strategy for relationships with WRAC Association Branches, Members and the wder Service charity sector, particularly in relation to membership relations, and it retains responsibility for the charity'$ Objects. The Membei$hip Council consists of.. Chair of the Membership Coun¢ll {a Trusleel Chair of the Benevolent Fund la Trustee) All Lrfe Vice Presidents All Area Co-ordinators Editor of the Lioness- ex officio Honorary Appointments thin the Association to act as ex officio members le.g. Lawyer and Padre) except the Trea$urer who 15 an Officer of the Association. Manag•mont Board The Management Board is responslble for the execution of the WRAC Association's business in accordance wth the Tru5tees' and Membership Council's slrategic direction and is accountable to the Trustees for all aspects of ils delivery in support of the WRAC As$oualion'3 Objects. It1S 5UPPOrted by other sub committee5 fomied for specific purposes. The members of the Management Board are.. Vice Presldent & Chair of Board of Trustees Chair of Membership Council land Deputy Vice President) Chair of 8enevolent Fund Treasurer Chief Executive Officer

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 5 REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 Trustees who have held office since 1 October 2021 are as follows.. Trustees Brig (Retdl FH Gardner CBE Vl¢e Pr•sid•nt Appointed Vice March 2021 Appointed Trustee February 2020 Appointed Trustee July 2014 Reappointed Trustee July 2021 President Lt Col {Reld) RC Naile MBE Chair of tho M•mbershlp Council from March 2021 Chair of the EFC to March 2021 Chair of th9 B•n8volent Fund Treasur•r appointed July 2022 Col (Reldl IhA hlccord Appointed Trustee July 2013 Rea pointed Trustee Jul 2021 Appointed Trustee July 2019 Served as NEM November 2018- June 2019 Appointed Trustee May 2015 Rea ointed Trustee Jul 2021 Appointed Trustee April 2015 Rèa ointed Trustee Jul 2021 Appointed Trustee Febnjary 2017 Reap oinled Trustee Jul 2021 Appoit)led Trustee February 2017 Rea ointed Trustee Jul 2021 Appointed Trustee August 2017 ReaEDointed Trustee Julv 2021 Resigned July 2022 Treasurer & Truste8 Appointed Trustee July 2016 Reappointed Trustee Jul 2021 oinled Trustee Jul 2019 Lt Col {Retdl T Savage Maj (Rèldl MCM Jones Maj (Retdl CH Merrington-Rust MBE Miss B Johnson DÈputy Chair Benevolent Fund of th• Mrs S Mackenzie Col (Retdl A Hassell Maj IRetd) B Davies Ms SMF Veillard-Thomas Non-Exacutive Membèr Ex-offlcio A ointments PRO ers Mrs PF Muxworth NEM Chlef Executive Offlcer Assoclatlon Secrets ointed Ma ointed Ma 2021 2017 Thè Role of Trustees To provide the level of Governance necessary for the WRAC Association, the TN51ees are expected to attend all 3 Trustees Meeting5 annually, the AGM. and at leasttwo Major Grants Committee Meetings IMGCMI a year, prior to which a newly inducted Trustee would be expected to shadow a MGCM al least once. The WRAC Asso¢iab"on continue5 to subscribe lo the Charity Commlssion's on4ine update$, the Cobseo newsletter, Gov.UK updates and NCVO eknbullelins. Trustees are required to disclose all relevant interests and register them with the Vice President and in accordance with the WRAC Association's policy are lo withdraw from decisions where a Conflict of interest arise5. KEY MANAGEMENT PERSONNEL REMUNERATION All Trustees give of their lime freely and no Trustee remuneration was paid in the reporting year. Details of Trustee expenses and related party transactions are disclosed in this report.

THE WOklEN'S ROYAL ARMY CORPS ASSOCIATION Page 6 REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 GOVERNANCE A Governance Audit look place in June 2022. The Cobseo audit tool, approved by the Charity Co>mmisson was used. The overall score was 71180,. a green outcome overall indicating good governance. The Trustees intend to follow thi5 procedure on a 3 yearly basis alongside the audit of Trustee skills also 3 yearly. STATEMENT OF TRUSTEES RESPONSIBILITIES The charity Trustees are responsible for preparing the Trustee5' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard$ (United Kingdom Generally Accepted Accounting Practice). The law applicable to charib.es in England & Wales requires the Trustees to prepare financial slatemenl$ fc*r each financial year that give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources Df the charity for that period. In preparing these financial statements. the Trustees are required lo.. select suitsble accounting policies and then apply them consistenuy., obseNe the rnelhods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., State whether applicable accounting stsndards have been followed, subject to any material departure5 disclosed and explained in the fi'nancial statements., prepare the financial statements on the going concem b8sis unless il is inappropriate to presume that the charity wll continue in business. The Trustees are responsible for keeping sufficient accctuntlng records that d15¢1ose wlh ieasonable accuracy at any lime the financial position of the charity and enable them lo ensure that the financial statements comply wlh the Charities Act 2011, the Charity (Accounts and Reports) Regulations 20D8 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. The Trustee5 are responsible for the maintenance and integrity of the charrty and financi81 information included on the ch8rily'5 web511e in accordance with legislation in the United Kingdom governing the preparatlDn and dissemInaOn of financial statements. Approved by the Trustees on . Signed on behalf of the board Brigadier (Reliredl Fiona Gardner CBE, Chairrnan Dale..

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF Page 7 THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 Opinion We have audited the financial statements of The Women'5 Royal Army Corps A650ciation for the year ended 30 September 2022 which comprise the Statement of Financial Activities, the 8alan¢e Sheet, the Statement of Cash Flows and the note5 to the financial Statements, including a summary of Significant accounting poli¢ies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Fin3nGial Reporting Standard 102." The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Aepted Accountsng Pracbcel. In our tspinion, the financial 5tatements'. give a true and fair view of the stale of the Charity's affairs as at 30 September 2022 and of its incoming resources and application of resources for the year then ended.. have been properly prepared in accordance th United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Char(ties Act 2011. Basis for opinion We conducted our audit in ac¢ord8nce wi(h International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those slandafds are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant lo our audit of the linancial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirernents. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions rèlating to golng Coneem In audf(ing the financial slatemenls, we have concluded Ihatthe Iruslee's use of the going ¢oncem basis of accounling in the preparation of the finanelal statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast signrficanl doubl on the charlty's ability lo ¢onlinue as ¥ going concern for a period of at least 12 months from when the financial slalementS are authorised for issue. Our responsibilitres and the responsibilities of the trustee5 wth respect to going concern are described In the relevant sections of this report. Othèr infornialion The other information comprises the information included in the annual report. including the trustees. report, other than the financial slalements and our auditor's report Ihereon. The trustees are responsible for the other information contained thin the annual report. Our opinion on the ffinancial stslements does not cover the olhgr inf¢Ymation and, except lo the extent otherwise explicitly slated in our report, we do not expre$$ any form of assurance conclusion Ihereon. Our re5ponsibilily is to read the other infonnalion and, in doing so, consider whether the other information is materially incon51Stent wth the financial Slalements or our knoedge obtsined in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial stalernents themselves. If, based on the work we have performed, we conclude that there is a material misstatement of ihis other information, we are required to report that fact. We have nothing lo report in this legard.

REPORT OF THE INDEPENDENT AUDITORS TO THETRUSTEES OF Page 8 THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 Matter5 on whiGh w& arn required to report by exception In the light of the knowledge and understanding of the charrty and its environment obtained in the course of the audit, wfr have not Identified material mlsslatements in the Trustees, Annual Report. We have nothing lo report in respect of the [low1ng matters in relation to which the Charities IAccounts and Reports) Regulations 2008 requires us to report to you rf, in our oplnlon.. the information given in the trustees, report Is inconsistent in any materi81 respect the financial stalernenls," or sufficient accounting records have not been kepl., the financial ststements are not in agreement wlh the accounting records., OT we have not obtained all the informats'on and explanations we require for our audit. R8$pon$lblllllg$ of the tru$t••$ As explained more fully in the Iru5tees' re5ponsibililies stslemenl. the trustees are responsible for the preparation of the financial statements and for being Satisfied th81 they give a tnje and f¥iT Vlew, and for such intemal control as they delemiine is necessary tts enable the preparation olfinancial slalemenls that are free from material misstatement, vthether due lo fraud or error. In preparing the financial statements, the Iruyteey are responsible for assessing the ChaTils ability to continue as a going concem, digclosing, as applicable, matters related lo going concern and using the going concern basis of a¢counling unless the Iruslees eiti)er intend lo liquidate the Charity or lo cease operations. or have no realistic alternative but to do so. Audltorfs rnsponslbllltios for the audlt of thg flnanclal statements We have been appointed as auditor under Section 144 Charities Act 2011 and report in accordance ith the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the ffnancial statements as a whole are free frorn material mi5Statement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI wll always delecl a material misslalemenl when it exists. Misslalernenls can arise from fraud or error and are considered material rf, indiwdually or in the aggregate, they could reasonably be expected to influence the economic tleBisions of users taken on the basis of Ihese financAal statements. Irregularrties, including fraud, are instances of non-compliance with laws and regulations. We design proceduTes in line wlh our responsibilTties, outlined abcve. to detect material misstatements in respect of irregu13rib'es, including fraud. The extent to Mthich our procedures are capable of detecting irregularAies, including fraud is detailed below.. The extent to vknich the audit vrn¥ ¢on$ldered capable of detoctlng Irregularlties Includlng fraud Our approach lo identifying and as$es$ing the risks of material misstalemenl In respect of irregularrtles, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations". we identrfied the laws and regulations applicable lo the Charity through discussions th the tnjstees and other management, and trom our knoedge and experlence of the charities sedor..

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF Page 9 THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 we locused on specffic laws and regulations which we considered may have a direct material effect on the financial slalemenls or the operations of the charity, including the Charities Act 2011, data protection. employment, and health and safety legislation," we assessed the exient ol compliance with the laws and regulations identified above through making enquirie5 of management and inspecting legal correspondence. The identified laws and regulations were communicated within the audit team regularly and the team remained alert lo in81once¥ of non-compliance throughout the audit. We as8eg8eLI the su8¢eplibility of the ch8rity's financial statements to material misstatement, indudlng obtaining an understanding of how fraud might occur, by.. making enquiries of management as lo ere they considered there was susceptibility to fraud. their knovledge of acbjal, Suspected and alleged fraud., and considering the Internal controls in place to mitigate risks of fraud and non-compliance wth laws and regulations. To address the risk Df fraud through management bias and override of controls. we.. perform&d analyli¢al procedures lo ifJ$nts'ty any unusual or unexpected relationships,. tested journal entries during the year and at the year-end to identify unusual transactions., assessed whetherjudgemenls and assumptions made in determining the a¢¢ounling estsmates sel oth in the notes Its the accounts were indicative of potential bias- investigated the rationale behind significant or unusual trang8¢tlons', In response lo the risk ot irregularities and nonwcompliance with la and regulations, we designed procedures which Included, bul were not limited lo.. agreeing financial statement disclosures to underlying supporbng documentation", reading the minutes of meetings of those charged wilh governan.. enquiring of management as to actual 8nd potential litigation and claim5; revievAng correspondence rElevanl regulators, such as the Charities Commission,. and reviewed legal and professional expenditure Incurred in the year. There are inherent lirnitations in our audit Procedures described above. The more removed that laws and regulations are from financial Iransaclions, the less likely il Is that would become aware ol non- compliance. Auditing standard5 also limi( the audi( procedures required lo identify non-compliance wth laws and regulations lo enquiry of the di¢101$ and other management and the inspection of regulatory and legal correspondence. If any. Material misststements that arise due to fraud can be harder lo delect th8n those that arise from error as they may involve deliberate con¢ealmenl or collusion. A further description of our responsibilities for the audit of the financial statements ig located on the Financial Reporting Ctsuncil's website at.. ww.frG.O .uklauditorsres onsibililies. This description fomis part gf our auditor's report.

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF Page 10 THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION FOR THE YEAR ENDED 30 SEPTEMBER 2022 Us? of our Tgport This report is made solely to the Charity's trustees, as a body, in acGordance with section 144 of the Charitie$ Act 2011 8nd the regulations made under Section 154 of that Act. Our audrt work has been undertaken so that we might slate to the Charity's trustees those matters we are requ1d lo state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity's trustees as a body, for our audit work, for this report, or for the opinion3 we have formed. RON_ A&fd&iiP Rothmans Audit LLP Chartered A¢countants and Statutory Auditors Avebury House Sl Peter Street Winchester Hampshi S023 8BN Date.. 2 March 2023 Rothman$ Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

THE WOMEN'S ROYAL ARhlY CORPS ASSOCIATION Page 11 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022 Total Total Year Ended 30.092022 Year Endod 3Q.09.2021 Notes Uthr•ttrfeted Fund• RoBtrfctsd INCOME FROM-. Donations and legac$ Ch&dtable 1¥Ye$ Inve6tmgnl$ other IncLvne 44,842 22.0 38.956 9,740 32,337 77.179 22,360 221.247 111.003 52.676 182,291 313 215,526 1D.144 TOT INCOME 115.898 214,941 33tl,839 276.346 EXPENDITURE ON.. RalsirvJ funds Chaittable a¢XileS 7,096 161,978 31,438 310.360 36.53? 472.338 4D.457 366.059 Tot•1 Expand1• 169,074 341,786 510,870 406.416 Net Gains I Ilossesl on Inw$bments 1194.3921 1894.0781 11.088.4fj81 1,564,998 NET INCOME I IEXPENDITURÉI 1247.5681 11.020,9311 11,268,499) 1,436,328 rransfers bob+#) knd$ 16 NET MOVEIIENT IN FUNDS 1247.S681 11,020,931) 11,268,499) 1.436,328 RECONCILIATION OF FUNDS= Total Funds bmuom foTh¥ard 1.652,053 7.340,62B 8,992,682 7.556,354 Total lunds c8rrfed foTh¥ar 1.404,485 6.319.698 7.724.183 8.992.662 The ytalemenl of financial activities includes all gains and losses recognised in the year. AJI income and expenditure derive from continuing activities. The notes on pages 14 10 30 fomi part ofthese Ilnanclal ststements.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 12 BALANCE SHEET AS AT 30 SEPTEMBER 2022 2022 2021 Nott5 FIXEO ASSETS Intangible assels Tangible assets Investments 10.100 3.525 7,667,505 7,681.130 11,994 4,528 8,901,216 8,917,738 10 CURRENT ASSETS Stock Debtors Cash at bank and in hand 3,982 43,624 17,511 65.117 5,782 31,776 13 104,562 LIABIUTIES Creditors.. Amounts falling due within one year 14 22.064 29,618 NET CURRENT ASSETS 43,053 74,944 TOTAL NET ASSETS 7,724,183 8.992.682 FUNDS OF THE CHARITY Restricted Funds-. The Benevolent Funds The COBSEO Female Cluster Group Fund 17 18 6,310,169 9.529 7.340,629 Unrestricted funds., General Funds 19 1,404,485 1.652.053 Designated fund$'. Membership life subscription fund 16 TOTAL FUNDS 7,724,183 8,992.682 The financial statements wère approved by the Board of Trustees on on it5 behalf by.. and were signed Brigadier IRelired) Fiona Gardner CBE, Chairman The notes on pages 14 10 30 fonn part ol Ihese financlal slalements.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 13 STATEMENT OF CASH FLOWS AS AT 30 SEPTEMBER 2022 2022 2021 Notes Net cash lusod inl op•r•tlng artivitlO5: 1415,9831 1307,105) Cash flows from Investing activiti•s Dividends and interest from investments Purchase of intsngible assets Purchase of property, plant and equipment Proceeds from sale of inve8tmenl8 Purchase of investrnenls Net ca$h provld•d by investing acllvltl8$ 221.247 215,526 13,767) 325,477 1236.020} 301.216 376.465 1231.2221 366,490 Chang• In cash and Cash equlva19nts In th& yèar 149,493 15,8891 Cash and cash aqulvalonts at the beglnning of th• y•ar 67,004 72,893 Cash and cash •qulvalents at the end of thg yoar 17.511 67,004 NOTES TO THE STATEMENT OF CASH FLOWS STATEMENT OF CASH FLOWS NOTE 1: RECONCIUATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2022 2021 Not movement in funds Adjustments for.. Depreciab'on and amortisation charges (Gainslllosses on investments Dividends and interest from investments Iln¢reaselldecTease in stocks Ilncreaselldecrease in debtors Increaselldecreasel in Creditors Net cash (used in) operatsng activities 11,268,499) 1,436.328 2,897 1,08e.468 <221,2471 1,800 111,8481 7,554 415,9831 2,783 {1,564,3981 1215,5261 810 39,138 16,240 1307,105 STATEMENT OF CASH FLOWS NOTE 2: ANALYSIS OF CASH AND CASH EQUIVALENTS 2022 2021 Cash at bank and in hand Total Cash & Cash Equivalents 17,511 17,511 67,004 67,004

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 14 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 ACCOUNTING POLICIES BASIS OF ACCOUNTING The accounts (financial statements) of the charity have been prepared under the historical Cost convention with items reco9nised al cost or transaction value unless Otherwise stated in the relevant notes lo these accounts. The accounts have been Prepared in accordance the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Re¢tsmmended Pra¢tice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191., Financial Reporting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Acl 2011. The Gharity constylules a public benefit entity a$ defined by FRS 102. The accounts (financial statement51 have been prepared to give a 'lrue and faif view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to Provide 'Irue and fair view.. This departu has involved following Accounting and Reporting by Ch8riliey preparing their a¢¢ounls in accordance with the Financial Reporbng Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. rather than the Accounting and Reporting by Charities.. Ststernent of Recornmended Practice effective from 1 April 2005 vthiGh has since been thllravm. The presenlati¢nal and functional Currency of the charity iy Pound Sterling. The 8¢¢ounts are rounded lo the nearest pound. The Charity's principle office is Unil 11, Basepoint Business Centre, 1 Winnall Valley Road, Winchester. Hampshlre. S023 OLD. The trustees consider that there are no material uncertainties about the Ass0¢i3tion's ability to ntInUe as a going concem and these accounts have been prepared on a going concem basis. There are no significant judgements which affect the amounts recognised in these financial statements. With respectto the next reporting period. the most significant areas of uncertainty that affectthe carrying value of as$e15 held by the Trust are the level of investment retum and the performance of investment markets. FUND STRUCTURE Following advice received from the Charity Commissioners during the year ended 31 October 2001, two related, but Previously Separate charities (The Auxiliary Territorial Service Benevolent Fund & The Women's Royal Army Corp5 Benevolent Fund, and The Princess Royal's Memorlal Fund) were amalgamated wth the Associali()n. The Benevolent Funds including the Princess Roy81 Memorial Fund is the reslricled fund repiesenling the activities of The Auxiliary Territorial Service and The Women's Royal Amiy Corps Benevolent Fund lincorporaling the Princes5 Royal's IAemorial Fund) that provides one-off grants. annuitie5 and nursing home lees lo ex-servoce women. The funds of these amalgamated charits'es are treated as restricted by the Trustee5, and are only applied for the purposes specified in the original objects of the charitie5 c¢ncerned. In addition. there is an unreslricted bul designated fund for life subscriptions that make transfers to the unrestricted fund, as income received in advance is realised.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 15 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 FUND STRUCTURE Icontinuodl These financial statements present in aggregate, the results for the year ended 30 September 2022 and the balance sheet position as at 3D September 2022, for the three original charities with comparatives for the year ended 30 September 2021. THE BRANCHES OF THE ASS¢XIATION The Branches of thè Association do not expressly further ils Objects through any explicit or implicit power provided by the Associats'on's Constitution,. neither control nor management is exercised. Furthemiore, the Asso¢ialion's Constitution recognises formally the distinctiveness of a 8r8nch's financial commthents from that of its own. On that basis, the Membership Coun¢il has decided lo separate any financial connection that has existed anLI recognise in a clear and transparent way that there is no financial dependency of the Association on the Branches or vi¢e-versa and that neither control nor management has been or will be exer¢i$ed. As such branch in¢ome and expenditure is not recognised in these financial statements INCOME RECOGNITION All incoming resources are Tecognised once the charity has entitiementto the income, it 15 Probable that the income wll be received and the monetary value of incoming resources can be measured with sufficient reliabllity. Donations are recognised upon recèipt. Membership incorne is recognised evenly over a 12-month period from the date of receipt. Legacy gifts are recognised on a case by case basis following the granting of probate ¥en the administratorlexecutor for the eslale has communicated in wnting bDlh the amount and settlement date. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charrty,. Ihls is nomially upon notificab'on of the inlere8t P8id or payable by the bank. Dividends are recognised once the diwdend has been declared and nolffication has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yietd of the investment portfolio. RESOURCES EXPENDED All expenditure is 8ccounled for on an accruals basis, and hag been classrfied under headings that aggregate all cos15 related to that category. Grants payable are payments made to third parties in the futherance of the charitable objectives of the Trust. They are accounted for when Ihe recipient has a reasonable expectation that Ihey will receive a grant, and the Trustees have agreed to pay the grant wilhoul condib'on. AJI resources expended are inclusThie ol iThecoverable VAT. ALLOCATION OF MANAGEMENT AND ADMINISTRATION COSTS Management and administration costs, including support costs and govemance costs, have been allocated between charitable activities a5 5hovm in note 7. Where costs ¢annot be diredy attributed to a particular activity they are allo¢ated on a basis consislenl with the use of resources, for example, staff costs are allocated based on the propr)rtion of lime Spent by staff member5 on eath activity. Govemance costs comprise all costs involving the public accountsbility of the ¢haTlly and ils compliancè with regulation and good practice. These costs include costs related lo statutory audit.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Pagè 18 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 FINANCIAL INSTRUMENTS The charity only has financial a5se15 and financial liabilities of 8 kind that qualrfy as basic financial instrurnents. Basic fi'nancial instruments are inib'ally recognised al IransaGtion value and subsequently mea8ured at their settlement value wth the exception of investments which are measured at their fair value as described more fully below. IMTANGIBLE FIXED ASSETS Intangible assets con51sI of computer software cos15 related lo the design and building of a bespoke online database. The asset was in development as at 30 September 2017 and was brought into use in February 2018. The chari(y intends lo keep updating tho database software as necessary and lo use it for the foreseeable future so rt is not PO55ible to reliably estimate the actu81 lrfespan of thi5 asset. A 10- year lifespan has therefore been adopted as this is the longest period pemiitted by FRS102 in these ¢ircum5tance3. Am0'saIion costs are included wthin expenditure on charitsble activities In the Statement of Financial Acts'wties. TANGIBLE FIXED ASSETS Assets costing £100 or more are capitalised as tangible fixed assets and are carried al cost. net of depreciation and any prowsion for impairment, Depreciab'on is provided at the followng annual rates in c*rder lo wite off each asset over its estimated useful life: Computer equipmenl Office equipment Straight Line over 5 years Straight Line over 10 years INVESTMENTS Inveslments are a fom of bayic fi'nancial in$triJment and are inftially recognised al their transaction value and subsequently measured al Ihelr lair value as at the balance sheet date using the dosing quoted market price. The Twst does not acquire put options, derivatives or other comF4ex financial instruments. All gains and losses are taken to the Statement of Financial Activilieg 88 they arise. Realised gains and losse3 on investments are calculated as the drfference beeen sales proceeds and their opening carrying value or their purchase value if acquired subsequent lo the first day of the finan¢i81 year. Unreali5ed gains and losses are calculated as the difference between the fair value at the year-end and their carrying value. Realised and unrealised investment gains and los$e$ are combined In the Statement of Financial Aclimlies. The rnain form of financial risk faced by the charity is that of volatility in equity markets and investment markets due ID wder economic conditions, the altitude of investois to investment risk. and changes in senllment conceming equities and wiihin particular sectors or sub sectors. STOCKS stocks are slated al the lower of cost and net realisable value. CREDITORS Creditors and provisions are recognised where the charity has a pres&nl obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estim81ed reliably. Creditors and provisions are nG)allY recogni8ed at their selllemenl amount after allowing for any trade discoun15 due.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 17 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 LIFE SUBSCRIPTIONS Life subscriptions gre accotsnted for when received, and allocated to specific designated funds to be released lo general funds on a slraighl line basis over a period of 20 years. The chanty ceased offering lrfe subscriptions in April 2015 and released all remaining designated funds in FY21 IFinancial Year 2021). PENSION COSTS The company operates a defined contribution pènsion scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions PaYae for the year are charged in the income and expenditure account. FUNDS RECEIVED AS AGENT Where the charity r*¢trivey resources vthich it is bound lo pay over to a specified third paty the transaction is not recognised in these accounts a$ the charity ha5 no discretion over the use to which the funds are applied. The receipt of lunds is not recognised as in¢ome nor 15 the distribution of funds recognised a5 expenditure. DONATIONS AND LEGACIES 2022 2021 Unrestri¢tgd Annual Association sub8cr5pb.ons Donations to the Assodation Legacies 13,026 27,816 4,000 44,842 11.499 19,307 11,858 42.664 Restrfcted The Benevolent Funds.. Donations Legacies Gran15 Returned The COBSEO Female Cluster Group Fund.. COBSEO Fundin9 1.315 12.205 7.662 1,210 2,500 6,302 11.155 32,337 10,012 INCOME FROM CHARITABLE ACTIVITIES 2022 2021 Unrestrictad Income from Grand Reunion 22,360 22,360

THE WOMEN'S ROYAL ARMY CORPS ASSOGIATION Page 18 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 INVESTMENT INCOME 2022 2021 Unrestrlcted Dividend income Deposit & SIB accounts interest 38,952 36.321 38,956 36.323 Restrfcted The Benevolent Funds.. Oividend income Oeposit & Sl8 accoun15 interest 182,271 20 179,199 182,291 179.203 221,247 215,526 Investment Income arlses from the charity's Investment portfollo, which is a financlal In81rument canled at fair value through the Statement of Financial Activities. OTHER INCOME 2022 2021 Unr¢strlcled Memorabilia Sale8 Prize Draw GIftd Tax 7,138 1,206 1,396 9,740 7,972 1,893 9,865 R•8trlctsd Glft Aid Tax 313 279 10,053 10,144

THE WOMEM'S ROYAL ARMY CORPS ASSOCIATION Page 19 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 EMPLOYEES 2022 2021 The average monthly number of persons (excluding Trusleesl employed by the Assoclation during the year was.. Office & Administration Stsff costs for the above persons.. Wages & Salaries Social Security Costs Pension Costs 109.394 4.172 6.377 86,226 916 5,203 119,943 92 345 No employees received employee benefits in excess of £60,000. The charity considers the Board of Trustees to be its key management personnel. No Trustee received any remuneration for services lo the Association in the current or previous year. Reimbursements for travel expense5 tolalling £5,495 were made lo 10 Truslees12021'. £1,782 to 7 Tru8teesl and Of £5.430 10 9 Council members12021'. £805 10 4 Coun¢il members). The charity make$ contributions to defined contribution pension schemes on behaK of its employees. The costs of these contributions are allocated between unrestricted and restricted funds on the basis of the lirne spent by each employee on the activities undertaken by each fund. RAISING FUNDS 2022 2021 RESTRICTED Benevolent Fund - Inve5tsnent Management 31,436 31.436 32,621 32,621 UNRESTRICTED Investment Management 7,096 7,096 7.836 7,836

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 20 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 CHARITABLE ACTIVITIES Dirnct Costs Grant Fundlng Support Costy Total 2022 Totsl 2021 Unrestricted Funds.. Maintaining contact and fostering friendships Re$tri¢led Fund8.' Fostering 8spril de COTPS, comradeship and weware 51.782 110.196 161,978 96.074 27,136 188,753 94,471 310.360 269,885 78,918 188.753 204,667 472.338 365.959 2022 2021 UNRESTRICTED Direct Costs Grand Reunion Great Yarmouth Remembrance Thanksgiving for Her Majesty Queen Elizabeth11 Ro$e Garden Statue Unveiling other Events National Memorial Arboretum Memorabilia Purchases for Shop 100 Wonderful Women Book Christmas Gards Standard 8earers Flowprs Presentations 37,353 1,050 392 557 250 1,075 320 1,860 6,317 1.444 2,239 5.219 104 1.592 97 779 346 11.820 1,477 376 71 684 51.782 Support Costs Staff Costs Travel & meeting expenses Printing, postage & Stationery Sundry office expenses Marketing Governance- Auditors Remuneration - Audlt Governance- Auditorg Remuneration - Other Governance- AGM Governance- Trustees meetings, training & 8dwce Governance- Trustees Costs Governance- Coun¢il Cost$ 61,548 3,209 2,211 14.845 13,440 1.599 657 2,323 2,042 2,892 5,430 110,196 47.922 573 2.991 14,268 10,835 1,590 648 2.082 1,635 905 805 84.254 TOTAL UNRESTRICTED 161,978 96,074

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 21 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 CHARITABLE ACTIVITIES (contind...} 2022 2021 RESTRICTED Direct Cost$ - Grant Fundlng Benevolent Funds grants lo 141 12021.. 971 individuals Prince55 Royal's Memorial Giants lo 1712021.. 221 individuals Annual Maintenance Grants 10 512021.. 41 individuals 144,901 35,500 8,352 188.753 110,429 46,619 8,600 185,648 Dlrect C09ts18onevolent Funds) Lioness publication co$15 Thanksgiving for Her Majesty Queen Elizabeth11 Flower5 Christmas Cards 23,1 $4 557 322 1,477 25,510 24.165 1,592 25,757 Dlrect Costs {COBSEO Fèmalè Cluster Qroupl COBSEO Expenses 1,626 1,628 Support Costs IB&novolent Fund81 Staff Costs Travel & meeting expenses Printing, postage & stationery Sundry office expenses Marketing Governance - Auditors Remyneration - Audlt Governance- Auditors Rernuneration - Other Governance- AGM Governance- Tm$lees meeb"ngs. training & advice Govemance- Trustees Costs 58,395 1.180 792 15,208 11,007 1,599 657 2,323 707 2,603 94,471 44.423 540 603 15,711 10,835 1,590 648 2.082 1,172 876 78,480 TOTAL RESTRICTED 310,360 269.885 TOTAL COSTS OF CHARITABLE ACTIVITIES 472.338 365,959 The total amount of Govemance costs, as Sho above. was £22,832 12021.. £14,033), of which £14.94312021.' £7.6651 relates to unrestricted funds and £7,88912021.. £6.3681 relates lo restricted funds.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Pag8 22 NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 30 SEPTEMBER 2022 INTANG18LE ASSETS Computer Softwar• Total COST At 01 October 2021 Addrtions Disposals AI 30 September 2022 18,938 18,938 18.938 18,938 AMORTISATION Al 01 October 2021 Charge for year Elimination on Disposaly AI 30 September 2022 6,944 1.894 6,944 1,894 8.838 8,838 NET BOOKVALUE At 30 September 2022 10.100 At 30 September 2021 11 994 11.994 Not?.. Intsngible assets related 501ely lo a database developed for the Restricted Benevolent Funds.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 23 NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 TANGIBLE FIXED ASSETS Computor Equlpment FIKtures & Flttlngs Totsl COST At 01 October 2021 Additions Dlsposals At 30 September 2022 6,820 3,830 10,650 15881 6,232 15881 10,062 3,830 DEPRECIATION At 01 October 2021 Charge for year Elimination on Disposals At 30 September 2022 3,712 662 588 3,786 2,410 341 6,122 1,003 15881 6,537 2,751 NET BOOK VALUE At 30 September 2022 2,446 1.079 3,525 At 30 September 2021 3,108 1,420 4,528 Note: Fixed assets are allocated beten fund8 as follows.. Unrestricted Fund Restricted Funds- Benevolent Funds Net Book Value a130 Seplember 2022 1,395 1.051 2,446 317 762 1.079 1.712 1,813 3,525 Unrestricted Fund Restricted Funds- Benevolent Funds Net Book Value al 30 September 2021 1,772 1.336 3,108 512 908 1,420 2,284 2.244 4.528

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 24 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 10. INVESTMENTS 2022 2021 Unrestricted g•neral funds: Brewin Dolphin Portfolio COIF Deposit Account 1,408,504 1,637,675 467 1,638,142 1.408.504 Restricted Benevolent Funds: Brewin Oolphin Portfolio 6,259,001 6,259,001 7.263.074 7.263,074 Total investments at market value 7,667,505 8.901,216 2022 2021 Investments al fair value comprise.. Listed Investments Cash held within the investment portfolio 7,535.908 131,597 7.667.505 8,750,194 151,022 8,901,218 2022 2021 Market value brought forward at 1 October Addrtions Disposals Unrealised gains I (losses} Market value carried foN4ard at 30 September 8.901,216 231,222 1376,4651 11,088,468) 7.667,505 7,426,275 236,020 {325,4771 1,564,398 8.901,216 The hislorlcal cost of these investments, purchased at vari¢JUS dales, Is as follows.. 2022 2021 Unrestricted general funds Restricted tunds.. Benevolent FLtnds 1,181,097 1,216,342 4.995,455 5,105,453 6, 176.552 6,321,795 The investments are a financial asset measuTed at fair value through the Stslement of Financial ActitieS

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 25 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 11 STOCK 2022 2021 Memorabilia Stock 3,982 5,782 5.782 12 DEBTORS 2022 2021 Due Within One Year: Prepayments Accrued Income Other Debtors 40,538 2,000 1,086 30.227 538 1,011 43,624 31,776 Unre3tricled Restricted 2,fj71 40.953 43,624 3,348 28,428 31,776 13. CASH AT BANK & IN HAND 2022 2021 Current accounts Deposit accounts Cash in hand 16,370 1,021 120 18,423 48,501 80 17,511 67.004 Unrestricted Restricted 6,490 8,503 58,501 67.004 17,511 Cash al bank and in hand is a financial asset measured at amorfise¢J cost.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 2e NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 14. CREDITORS 2022 2021 Amounts falling due within one year.. Accruals Taxation & Social Security Deferred Income Olher Creditors 14,518 1,517 5,353 676 22,871 1,497 4,574 676 22,064 29618 Unrestricted Restricted 10,716 11,348 22.064 9,881 19,737 29,618 2022 2021 D•ferred incomfr: Deferred income brought forward Incorne released in Burrenl year Incorne deferred in current year 4.574 (4.5741 5,353 5,383 {5,383} 4,574 Defefred income carried foThvard 5,353 4,574 The deferred income relates lo membership subscrfpllong and other income for Ihe nextfinancial period which were Teceivecj during the current year. 15. FUNDS RECEIVED AS AGENT The charity did not receive any funds a5 an agent in the year ended 30 September 2022 or the year ended 30 September 2021. 16. DESIGNATED FUNDS Llfe Membershlp Total 2022 Total 2021 01 O¢lober 2021 Subscription Income Transfers lo general ftjnds 14,859 114.8591 30 September 2022 The charity has no designated funds as at 30 September 2022.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 27 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 17. THE BENEVOLENT FUNDS 2022 2021 01 October 2021 Incoming resources Donations and legacies Investment Incorne Other income Resources expended Raising Funds- Investm&nt management costs Charitable activities (Losses) l Gains orb investments 7,340,629 6,155.526 21,182 182,291 313 10.012 179,203 279 131.4361 1308,7341 1894,0761 132,6211 1269,8851 1,298,115 30 Sept?mber 2022 6,310.169 7,340.829 Cumulative unrealised gains on investments induded in The Benevolent Funds balance at the year- end amounted to £1,263,54612021'. £2,157,621) The Benevolent Funds including the Princess Royal Memorial Fund is the restricted fund representing the activities of The Auxiliary Territorial Service and The Women's Royal Arniy Corps Benevolent Fund (incorporating the Prtn¢ess Royal'5 Memorial Fund), 1¢h is a subsidiary charity of the WRAC association. The funds may be applied only in pursuance of the C&bje¢ts of the charity, namely.. To promote the interests and welfare of persons vkno have served in the Corps in such ways a5 are charitable in law,. and The relief of persons in need are either.. Persons who have served in the Corps,. or The children or dependents of any person (alive or deadl Iptho has served in the Corps The Trustees may relieve persons in need by.. Anaking grants ol money lo them,. or Providing or paying for goods. seNces oi facillties for them,. OT Making grants of money lo other persons or bodies who provide goods. services or facilities lo those in need.

THE WOAIEN'S ROYAL ARMY CORPS ASSOCIATION Page 28 NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 18. THE COBSEO Fwnal• V•tsrans Cluster Fund 2022 2021 01 October 2021 Incoming resources Oonalions and legacies Resources expended Charitable activities 11.155 11,6261 30 September 2022 9,529 The COBSEO Female Veterans Cluster restricted fund was created in FY22 and relates to funding provided to the WRAC for rts work wth the aforementioned group. and costs relate lo fvnding travel and sub8l$tence and marketing costs for group rnembers. 19. TOTAL FUNDS OF THE ASSOCIATION Ioct 2021 Incoming Othgoing Rosourcos Resources Trnfo 30 Sop 2022 Unrgjtrictsd Funds: General funds 1.652,053 115,898 1363.4661 1,404,485 Re$trfctsd Funds: The Benevolent Funds C08SEO Female Veterans Cluster 7.340,629 203,786 11,234,248) 11.155 {1,6261 8,310,169 9.529 8.992,682 330,839 11.599,338 7.724,183

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 29 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS Flxed Ass•ts Net Current A6s•ts TOTAL 2022 Yeor End•d 30 Soptember 2022 Unrestricted Funds: General funds 1,410,216 15,7311 1,404,485 RKtrl¢ted Fund8: The Benevtslent Funds COBSEO Female Veteran$ Cluster 6,270,914 39,255 9,529 6,310,169 9,529 7,681,130 43,053 7.724,183 Cumulative unrealised gains on Investments included wthin the unrestricted general funds balance 8t the year-end amounted to £227,40712021'. £421,800) Flxed A$$ets Net Current Assets TOTAL 2021 Year Ended 30 Septèmber 2021 Unr8strlcted Funds.. General funds 1.640,426 11,627 1,652.053 Rutrfctsd Funds: The Benevolent Funds 7,277,312 63.317 7,340.629 8,917,738 74,944 8.992.682

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION Page 30 NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 21 ULTIMATE CONTROLLING PARTY The ¢haNty is controlled by its Trustees. 22 RELATEO PARTY TRANSACTIONS There were no tran8acllons related parties during the year, other than the relmbursement of expenseg lo Trustees as dl$close(I In note 5.

THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION YEAR ENDED 30 SEPTEMBER 2022 IN MEMORIAM Donations re made by indiwdual$ and Branches In memory of the floWIng.. Kay Holladay-segrave RIP Diana Weston RIP Jean Ansell RIP Mary Ellen Ni¢holl$ RIP Sue Elksnis RIP Jean Canning RIP June Kathleen Green RIP Margaret Watson RIP Sue Green RIP

2022-09-30-accounts