**Women’s Royal Army Corps Association Annual Report 2024**
**Celebrating and Supporting Female Veterans**
## **Vision**
**To provide camaraderie, benevolence and mutual support to former members of the ATS and WRAC, and exert influence within the military charity sector to broaden support for female veterans.**
**Brig Clare Phillips CBE presented Lu Tait with her beret and cap badge in the first of many ceremonies which will see the WRAC Association restore berets and cap badges to those of our veterans who were affected by the pre-2000 ban on LGBT serving personnel in the military**
## **Vice President Brig (Retd) Fiona Gardner CBE**
In the year that we celebrated 75 years since the formation of the Women’s Royal Army Corps, the Association continued to thrive and grow; building support to our branch structure, welcoming new members, and participating at local and national events throughout the year. To mark this special anniversary our members gathered in Guildford, our spiritual home where we hold the Freedom of the Borough, for a special tea and evensong at the cathedral.
The Association has implemented a number of governance changes which included a restructuring of our paid staff to better align our resources and outputs. The Benevolent Fund and the Association HQ Fund were combined, thereby ensuring the financial sustainability of the Association and enabling more effective support to our members until the charity’s natural demise.
Continuing to enhance our voice and visibility within the military charity sector and more widely, we were proud to be invited by the Army to participate in the restorations of berets and cap badges to those impacted by the pre-2000 ban on LGBT serving personnel, one of the recommendations of the Etherton Review. Starting in Perth, we were delighted to begin the presentations at our Scotland and Northern Ireland AGM, and look forward to continuing this important process across the UK.
The Female Veterans’ Transformation Programme (FVTP) continues to make excellent progress toward an agile toolkit meeting the needs of a range of service providers. The FVTP is the primary focus of our influence pillar, and supporting it through to conclusion in September 2026 ensures its enduring legacy remains a priority.
Please enjoy this short trip through some of our achievements during 2023/24 as we continue to support and celebrate female veterans.
## **Chief Executive Officer Paula Rogers**
A year of challenge and change has built a strong foundation to support the ambitious plans we have for our charity. The strategic review of the staff structure allowed our HQ team to develop and grow our offering and support to members and improve key areas of delivery. In the summer we moved our HQ base from a commercial space back into MOD property, and are now proudly hosted by the Army Training Regiment at Sir John Moore Barracks, Winchester. Surrounded by the serving community everyday, particularly those at the very beginning of their Army careers increases our connection to our members’ experience and grounds us in the ethos of service.
Within the wider veteran services and charity sectors we maintain strong influence. Working with the Office for Veterans’ Affairs on their Strategy Action Plan we have ensured the needs of female veterans are considered within every strand, and our Armed Forces Covenant Fund Trust and NHS England funded work - the Female Veterans’ Transformation Programme, is now strongly positioned to deliver meaningful outputs to support and celebrate female veterans.
The Single Cap-badge Associations Network has ensured that throughout the year our colleagues from across the Royal Navy, British Army and RAF continue to share best practice through the exchange of ideas and information. As one of the Network’s four lead organisations we champion the needs of female veterans as well as the benefits of maintaining contact with cap badge associations after leaving service. We have joined the Cobseo Justice Cluster to increase support and understanding of female veterans within the justice system, and as a member of the Cobseo Executive committee we ensure that the female veteran voice is acknowledged and amplified.
**Life Vice President Col (Retd) Audrey Smith OBE and CEO Paula Rogers at the mayor-making of WRAC veteran Maj (Retd) Sallie Barker MBE, now the Worshipful Mayor of Guildford where the WRAC retains the Freedom of the Borough**
Our dedicated staff team could not achieve all that we do without our wonderful volunteers. Across the UK we are supported by people giving up their time to organise local events, maintaining contact with isolated veterans, or writing for the magazine, as well as supporting our governance structure through trusteeship and auditing. Our volunteer contingent comprises civilians, serving personnel and scores of veterans who continue to serve those who served. They sum up what being a ‘Lioness’ means to them.
I volunteer as an editor of the Lioness magazine to help our association which has given me so much fun and camaraderie. The Lioness means a great deal to our members so I’m proud to contribute to the content. Life is a team game and I enjoy being part of a group of folk getting things done. **Babs Anderson, WRAC 1968-1973**
Organising events for the Lionesses from running the 10k to bartending the beer festival, I want to give other veterans the chance to reminisce and relive that “esprit de corps” we all enjoyed during our service. I am a team player, we have this bond and I would seriously be lost without it. **Wendy Hooton, WRAC 1972-1990**
As a serving servicewoman I volunteer as a branch organiser with the WRAC Association to show how much those who still serve recognise and respect the trailblazers who came before us. Our shared military service allows us to build our strong community.
**Sgt Stephanie Kolvik, AGC, serving since 2013**
As an area coordinator I know how much members appreciate the time we take to visit the groups and branches - offering time is important if you’re passionate about something. I am proud to be a conduit between HQ and branches, working together to maintain the bonds we all felt as WRAC. **Amanda Foster, WRAC TA 1982-1986, ACF 1986-2001**
Volunteering for the Association allows me to see the fruits of what we continuously deliver, supporting members to thrive within our veteran family in so many ways. Eight years as a trustee and HR lead has ensured the skills I developed in the Army continue to support the military community. **Barbara Johnson, WRAC 1979-1989**
**Chair of the Membership Council Lt Col (Retd) Rowena Naile MBE**
The Association’s national, regional and local events continue to further our Object of fostering esprit de corps and comradeship. In line with our strategy to provide events around the country to support all our members, we held our annual summer event in Wigan. Partnering with Mission Motorsport we took over the Three Sisters Racetrack, attracting members who had not attended a national event before as well as regular attenders; and with the Yorkshire Military Band playing Sweet Lass of Richmond Hill it certainly achieved the aim of bringing together our pride of Lionesses.
Work continues to provide the very best package to veterans of the ATS and WRAC as well as women serving in today’s armed forces, and those veterans of the Royal Navy and Royal Air Force who have chosen to join our vibrant community. Our biggest achievement to assist our members in the past year has been the reduction of subscription charges to zero. As a result, the membership has grown by over a third to more than 4000 women, and this has led to new branches forming, both face-toface groups and those that meet on-line, enabling closer comradeship amongst the female veteran community.
**The Lionesses and the Chatsworth Ladies’ Cricket team**
Throughout the year our veterans have met in groups small and large, and been proud to attend events including Founders Day at the Royal Hospital Chelsea, the Not Forgotten Buckingham Palace Garden Party and Remembrance parades across the UK and the world. Our members have shared their exploits through our bi-annual magazine and our vibrant social media community, ensuring the bonds which tied them in service continue to connect them today.
**TV star Linda Robson was just one of the celebrities we spotted enjoying the latest edition of the Lioness at Buckingham Palace**
**Making memories**
## **75th Anniversary of the WRAC**
Many of our members travelled to Guildford Cathedral to mark the 75th anniversary of the WRAC. A wonderful afternoon tea in the cathedral cafe gave us an opportunity to catch up and thank our outgoing National Standard Bearer, Sharon Baker-Joyce with a presentation.
During the Evensong service lessons were read by Lt Col (Retd) Rowena Naile MBE and Col (Retd) Audrey Smith, whilst our Honorary Padre, the Reverend Susan Wing, led the intercessions. Our National Standard was handed over to Elaine Osborne in a solemn and dignified ceremony at the end of the service.
**Deputy National Standard Bearer Elaine Osborne accepted the WRAC Standard from the outgoing National Standard Bearer, Sharon Baker-Joyce**
_Being in the WRAC Association means we all share similar experiences of service life. It’s a real sisterhood. Together we look after each other, we help each other, we’re always there._
_“If somebody wants to talk or needs a helping hand or whatever, there’s a great source of emotional support available._ _**Sharon Baker-Joyce**_
## **Mixing business with pleasure**
The Victory Services Club in London was the venue for our AGM in March. Our AGMs provide an opportunity for our members to participate in the business of the day, whilst catching up with old friends and making new connections. The main meeting was followed by a delicious afternoon tea.
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Brig Clare Phillips CBE talking to Joan Bartlett at
the Scotland and Northern Ireland Area AGM
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The Scotland and Northern Ireland Area AGM was held in Perth. During the AGM Brig Clare Phillips CBE joined us as we began to restore berets and cap badges to those members of our LGBT community who were dismissed prior to 2000. Guest speaker Scottish Veterans Commissioner, Lieutenant Commander (Ret’d) Susie Hamilton enjoyed the warm welcome of fellow female veterans as she updated our members on the work her office is doing for veterans across the nation.
Wales and the West region hosted their AGM and annual reunion in Cardiff where Association CEO Paula Rogers also used the AGM to announce Cardiff as the venue of the 2025 Grand Reunion to an appreciative home crowd.
**Wales and the West AGM**
## **Summer event - Mission Motorsport**
**Our Lionesses at the Three Sisters Race Circuit**
Our annual summer get-together saw members reunite at the Three Sisters Race Circuit for a fantastic track day organised by the military charity Mission Motorsport, whose volunteer drivers gave the ladies the ride of their lives in their supercars.
**Some of our thrill-seeking members at the Summer Event**
## **Remembering those who went before**
Veterans of the WRAC ensure those who went before are never forgotten, and that women and girls considering a career in the Armed Forces are inspired by those who have served. Occasions such as Armed Forces Day and Remembrance Sunday allow members to proudly represent our Association and raise the visibility of female veterans.
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Gathering on Horse Guards Parade
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Remembrance at the Bank of England
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Marking Remembrance in Tenerife
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Armed Forces Day in Plymouth
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Birmingham, Manchester and Tamworth branches
at the National Memorial Arboretum for Armed
Forces Day
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## **From the UK to Ukraine: meeting the ministers**
The WRAC Association’s reputation for being at the forefront of the work to support female veterans has reached the heart of government and spread further than the four nations of the United Kingdom.
We met with Johnny Mercer, the Minister of State for Veterans’ Affairs, throughout the year; at the Cabinet Office alongside other key stakeholders in the veteran space and at Armed Forces Day in Plymouth as we promoted the Female Veterans’ Transformation Programme. The Minister has engaged strongly with the WRAC
Association as the OVA seeks to prioritise Female Veterans in its Strategy and shared his encounter with Liza, our FVTP Lead, on his social media accounts.
We heard from representatives from the office of Ukrainian MP Iryna Nykorak, Chair of the Subcommittee on Veteran Rehabilitation of the Ukrainian Parliament and founder of “Arm Women Now” aimed at empowering women defenders in the Armed Forces of Ukraine. The Minister and her team sought our advice on how to better prepare their women involved in the war in Ukraine for life after military service, and support those who have already become veterans. Senior staff from the
WRAC Association met with MP Nykorak and her team online and were proud to be able to offer meaningful support and advice to benefit the female veterans of Ukraine.
Prime Minister Rishi Sunak attended the launch of the Norfolk Poppy Appeal, led by WRAC Area Coordinator and Poppy Appeal Manager for Norfolk, Lyn Hatch. The Prime Minister shared the photos of the day on his X account. Lyn said:
_It was an honour to meet the Prime Minister and hugely rewarding for him to take the time to chat with all of us and understand how much veterans continue to give to their communities._
## **The Lioness**
Our members receive two editions of the Lioness magazine each year. The magazine connects our members, sharing the special events, activities and achievements that build upon our esprit de corps even when we are apart.
_The Lioness gets better and better. It gives me a sense of belonging and even though I can’t manage to get to events now I see the photos and I feel like I’m back with the girls._
## **Social media**
Our Facebook followers enjoy engaging with our content, posting comments and questions. In 2024 we began posting the results of our benevolence grants. We also use our Facebook account to support new branches, publicising launch events and local branch activities.
_It’s great that we have Facebook for all the news and events in between editions of the Lioness._
_An old friend I served with in Germany popped up on the WRAC Facebook page. It was wonderful to connect with her again._
_The WRAC Association is the only Facebook friend I need - it’s like a reunion that never ends._
**Chair of the Benevolent Fund Grants Committee Maj (Retd) Monica Jones**
The Benevolent Fund has continued our vital work providing financial assistance and support to those in need within our veteran community. Demand for one-off grants has doubled, including items such as home adaptations and repairs, priority debt and mobility aids, whilst the request for short term financial support has decreased.
Our Membership Support Grants ensure that members can attend local and national events where their finances might otherwise have prevented them from attending. Uptake of these grants increased fivefold in the last year improving their circle of support and overall wellbeing. Annual Maintenance Grants offer regular charitable payments to female veterans across the UK, with an additional two overseas applications granted this year.
We closely monitor the outcomes of our Veterans Charity partnership, which began last year, to ensure swift targeted financial assistance reaches those most in need. This collaboration enhances our ability to provide timely and meaningful support.
Our Major Grants Committee comprises members, branch organisers, area coordinators, trustees and life vice-presidents, ensuring that a wide breadth of experience and skills came together throughout the year to assess each application, and make the best holistic decisions on a case-by-case basis as we strive to support our community of ATS and WRAC veterans. The dedication of our committee members remains instrumental in enabling us to fulfil our mission. Our financial position remains strong, and prudent financial management enables us to allocate additional resources next year to meet the evolving needs of our beneficiaries.
## **A hand up, not a handout**
Support from the WRAC Benevolent Fund makes a real difference to our veterans, enabling women to improve their circumstances and empowering some to get their lives back on track.
Receiving financial support is something many proud veterans prefer to keep private, however some beneficiaries are happy to share their story with others in the hope that they will inspire more struggling veterans to come forward.
Jayne Tait requested help from us as her health and mobility deteriorated. Having supported Jayne several years ago to fund home improvements to make her home warmer, we were able to award a further grant in this financial year to help her purchase a folding mobility scooter.
_It has allowed me to do shopping that I previously wouldn’t be able to do and I am also looking forward to visiting gardens. It folds like magic!_
**Jayne Tait collects her folding mobility scooter, which neatly fits in the boot of her car**
_I very much appreciate with all my heart what the WRAC have done for me and cannot say thank you enough._
Care Worker Jayne Rowlands was unable to continue working after an accident at work. Jayne contacted us because of her situation, and we were able to award her a Benevolent Fund Supplement, giving her a weekly amount to spend on essential groceries.
## **Female Veterans Transformation Programme**
The Female Veterans Transformation Programme launched phase one of our research to establish the needs of female veterans and ensure important evidence is more accessible to a wider audience. As a team we read and reviewed over 60 research papers from across the UK and created the Evidence Review and Statement of Need documents to underpin our work.
We also started to develop the branding for the programme and employed the skills of Hubble, a veteran-run design company, who created our logo, website (fvtp.org.uk) and infographics, including the Statement of Need.
When we moved into phase two, our consultation and codesign stage of the programme, we wanted to hear from female veterans and services that support and ask _**‘what does good service provision look like?’**_ We launched an online questionnaire and held workshops in person and online. This process captured the views of over 800 women from all services, ranks, and lengths of service across the UK. The responses and themes were analysed at the end of summer 2024, with the report due in early 2025.
The themes that emerged from the codesign phase will inform the development of the toolkit and make sure that services can provide the right services, in the right way and at the right time for female veterans.
## **Proud to work alongside:**
## **Statement of Need**
What the evidence tells us are the needs of female veterans
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IDENTITY
Less than
Women often do not
identify with the term 31%
‘veteran’ and face of women who
specific, complex identify as a have served
and multi-layered veteran [1]
issues as a result
of their service.
**----- End of picture text -----**
## **WHAT DO FEMALE VETERANS NEED?**
- Recognition of the specific needs of female veterans
- Empowerment for women to define their military service in their own terms
## **ACCESS TO SERVICES**
**Women often don’t access veteran facing services as they are seen to be male dominated and not able to meet their needs.**
## **WHAT DO FEMALE VETERANS NEED?**
- Women need to feel welcome, equal and able to access veteran support services
- Services should be personalised based on the individual’s needs and what matters most to that person
- Professionals need to have greater awareness, understanding of the specific needs of women and respond in a way that makes a difference to them
- Services should inquire about military service inclusively, rather than using singular terms like "veteran"
- Special attention to the impact of Services Bans (marriage, pregnancy, and gay bans)
- Provision of support for those negatively affected, especially LGBTQ+ individuals
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DISTRUST AND
MORAL INJURY
Women often feel
betrayed and let down
by the Military as they did
not respond to their needs,
complaints and requests
for help and support. WHAT DO FEMALE
VETERANS NEED?
Recognition that this
may affect interaction
or lack thereof with
services.
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## **BULLYING, DISCRIMINATION, HARASSMENT AND SEXUALLY INAPPROPRIATE BEHAVIOURS INCLUDING ASSAULT AND RAPE**
A significant percentage of women have faced or witnessed one or more of these issues during service.
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85% felt that they were of women reported
treated 73% witnessing or
differently to their male experiencing sexual discrimination [2]
counterparts
WHAT DO FEMALE VETERANS NEED?
● The widespread and insidious impact of this issue needs to be
acknowledged and accepted across the sector so women feel
seen and heard and therefore supported in a way that reduces
shame and stigma
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- Where appropriate and needed, services should be female only, delivered by women
## **TRANSITION, EMPLOYMENT AND FINANCE**
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of women feel they had received 44%
60% for life as a little support or preparation of women report[ing]ed being unemployed for long periods of time [5]
civilian [4]
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Resulting in:
## **WHAT DO FEMALE VETERANS NEED?**
● Fewer financial struggles
Women need better and more targeted support during transition to find appropriate and sustainable employment taking into account caring responsibilities.
- Less impact on mental health due to loss of identity
- Less likely to get involved in criminal activity
## **PHYSICAL AND MENTAL HEALTH**
**‘Women in the British Army have been found to be seven times more likely than men to suffer from musculoskeletal injuries……they are ten times more likely than men to suffer from hip and pelvic stress fractures[3]**
**Women are often left with long term impact on their physical and mental health as a result of service.**
## **AREAS OF LITTLE EVIDENCE**
There are many areas that still are largely under researched and therefore no practical action is **Only** being taken to improve the situation. **2% WHAT DO FEMALE VETERANS NEED? of veteran** More research and data capture is needed to better **research** understand specific issues for female veterans such as **focuses on females[6]**
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WHAT DO FEMALE VETERANS NEED?
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More research and data capture is needed to better understand specific issues for female veterans such as the criminal justice system, race and faith, care services, loneliness, digital poverty and accessibility and Reservists.
## **WHAT DO FEMALE VETERANS NEED?**
- Women’s specific health needs as veterans need recognising and professionals to have a better understanding of the potential causes
- Women need to feel confident to declare their military service and be supported into specific Armed Forces pathways where appropriate and wanted
- 1 Lauren Godier-McBard, Nicola Gillin and Matt Fossey, We Also Served: The Health and Wellbeing of Female Veterans in the UK (Chelmsford: Anglia Ruskin University, 2021), 104. 45 Edwards and Wright, Edwards and Wright, _No Man’s LandNo Man’s Land_ , 16, 18
- 23 Paula Edwards and Tony Wright, No Man’s Land, (Dudley: Godier-McBard, Gillin and Fossey, Salute Her UK, 2019), 5. _We Also Served_ , 30 6 Christina Dodds and Matthew Kiernan, “Hidden Veterans: A Review of the Literature on Women Veterans in Contemporary Society,”(2019): 2. _Illness Crisis and Loss_ 27, no. 4
**To find out more visit www.fvtp.org.uk**
## **Supporting our female veterans**
## **Requests for assistance most commonly granted by our Benevolent Fund**
**6% Adapted beds 8% Funeral costs**
**45% 6% Household goods Adapted beds 8% 20% Funeral costs Other 9% 12% Help with debt EPVs**
## **Reaching & engaging with our members and the veterans community**
**6,800 Copies of the Lioness distributed**
**27,600 Website visits**
**5,400**
**77,300**
**Facebook reach**
**Facebook followers**
**Growth in our membership 2023-2024**
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2024
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**2023**
**£215,291.23 128 successful was spent requests for by the assistance Benevolent were Fund successful**
0 500 1000 1500 2000 2500 3000 3500 4000 4500
## **Looking to the future**
## **Message from the Vice President, Brig (Retd) Fiona Gardner CBE**
We start the next year with a full programme of activities in Guildford where we will celebrate the 60th anniversary of the opening of Queen Elizabeth Barracks, and commemorate the 50th anniversary of the Guildford pub bombings, remembering Private Ann Hamilton and Private Caroline Slater who lost their lives that day. There we will continue the restoration of berets and cap badges to WRAC veterans who were impacted by the pre-2000 ban on gay serving personnel, with more presentations to come throughout 2025. It will be a privilege and a pleasure to welcome into the Association as many ladies as possible who have been alienated from the veteran family.
We will conclude a ‘light touch’ Strategic Review to ensure our strategic objectives remain appropriate and make any minor changes required, pending a full review aligned to the conclusion of the Female Veterans Transformation Programme (FVTP). We remain committed to supporting the FVTP in the development of an agile toolkit for service providers to female veterans.
We look forward to our triennial Grand Reunion in Cardiff in March, always the highlight of the calendar, as we welcome hundreds of former ATS and WRAC veterans to come together for an amazing weekend. This time we will be in Cardiff, exactly 25 years since the last Grand Reunion in the Welsh capital, when we will be joined by the Veterans’ Commissioner for Wales. We are also planning our summer event at Bletchley Park where we hope to enjoy the company and stories of one of our own code-breakers Betty Webb MBE. With our membership and branch structure expanding we look forward to continuing to foster comradeship and esprit de corps to our members.
**wraca.org.uk**
**Women’s Royal Army Corps Association Postal address: Unit 11, Basepoint Business Centre, 1 Winnall Valley Road, Winchester SO23 0LD Tel 0300 400 1992**
**email info@wraca.org.uk or benfund@wraca.org.uk President Her Royal Highness, The Duchess of Kent GCVO Registered Charity Number 206184, founded 1919**
Registered Charity Number 206184
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
FOR THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Rothmans Audit LLP
Chartered Accountants & Statutory Auditors
Avebury House
St Peter Street
Winchester
Hampshire
S023 8BN
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 1
REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Trustees submit Ihelr report and the financial statemenls of the Women's Royal Army Corps
Association for the year ended 30 September 2024. The Trustees agree on the broad strategy and
areas of activity including the FM)licies for grant making, investments. and reserves. The management
of Association staff and other charity management responsibilities are delegated to lh& Chief Executive
Officer.
The charitable Object of the Associailon is:
To promote the efficiency of the mY by..
Maintaining ¢ontact beeen fomier members of Queen Mary's Auxiliary Corps IQMAACI. the
Auxifiary T8rrilorial Service IATSI, the Auxiliary Territorial Service Territorial Amiy {ATS TAI,
Women's Royal Amiy Corps IWRAC}, Women's Royal Amiy Corps Territorial Arniy {WRAC
TA), WRAC Territorial and Volunteer Reserve IWFiAC TAVRI and women $till serving in the
Anny. fostering mutual friendship belween them and providing for social galherings.
Fost8ring esprit de corps. comradeship, weWare 2nd preserving the tr8ditions of the QMAAC.
ATS. ATS ITAI, WRAC, WRAC ITAI and WRAC (TAVR).
The administratron and activities of the WFiAC Association are governed by the WRAC Association
Constitution 2024.
The Trustees have referred to the guidance contained in the Charities Commission's general guidance
on publlc benefit when reviewing the aims and objecbves and in planning the future activities of the
charity. In particular. the Trustees consider how plann8d activities will contrlbut8 to the aims and
activtties they have set.
This year, the Tnjstees took legal advice and agreed to merge the previousty separated funds of the
Association and Benevolent Funds into one fund. The Objects of the Benevolent Fund sits within the
scope of the Objects of the Association and the costs of running two separate fvnds was unsustainable
in staff costs and exlemal fees.
The funds We sucSsfUllY merged together in late 2024 and the new fund 15 working well, 8llowlng
Trustees lo expand their charitable support into areas that have previously been under-resourced. An
updated set of guidelines have been produced to ensure that Trustees understand the broader scope
of activities that come wllhln the Objects of the Association.
CHARITABLE ACTIVITY
The WRAC Association continues to further the Association's object of fostering esprit de corps and
¢omradeship as we provide support and opportunities for members whilst advocating for female
veterans publicly and strategically.
During this reporting period we provlded glgnificant support and numerous events all¢vIng our memberg
to benefit from their status as WRAC veterans. Over 100 members paraded at the Cgnolaph in
November, with more representing the Association at seNices across the UK. Wreaths were laid in
London. Guildford (where we relain the Freedom of the Borough), and in each of our 8 Association
areas (Scotland and Nl. North East. North Wesl, Central, Wales and The West. Eastern. London and
South East, South and South West).
In February we proudly commemor8ted the 751h anniversary of the Women's Royal Army Corps. An
afternoon tea followed by an Evensong at Guildford Cathedral look place
At the AGM in March. il was agreed to roduce subscripttons lo zero. This resulted in an amazing
increase of over 1.000 new rngmbgrs.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
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REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Our summer evenl was held in August in conjunction with Mission Molorsport. 60 members attended
Three Sisters Racecourse in Wigan for a day of driving at speed around the track, and an obstacle
course skills challenge. Entertainment was provided by the Yorkshire Military Band with members
travelling from across the UK to attend.
In Sfjptemb&rwe were privileged to begin the prwess of re-presenting berets and cap badges to WRAC
veterans as part of the Army's response to the recomm8ndation$ from the Elherton R6view. Our first
presentation took place at our Scotland and Northern Ireland Area AGM held in Pgrth.
Branches and groups are the principle point for providing comradeship to our members with a new
branch forming in Bedworth and more due lo open over the coming months. Our magazine -The
Lioness" is published twice a y8ar with reports from our members and information about future events
they can get invofved in, and our social media engagement continues to increase, particularly through
our Facebook page.
A strategic review team was appointed from th9 trustee board to conduct a review and ensure the
Association HQ is fit for purpose. As a rasult, a staff restnjclure look place, losing the roles of
'Associalion Secretary,, Finance Officer,. 'Officer Manag6r' and 'B8nevolent Fund S8crelary', replaced
with 'Head of Operations and Engagemenf, 'Finance and Govemance Officer,, Membership and
Volunteering Officer, and 'Granls Officer,. During this reslruclure, I0 members of staff left the
organisation and one person accepted a redundaney settlement. One existing staff memb8r was
appointed lo a new role and three new staff members were appointed into new roles. The new staff
structure 1$ working well.
As part of our on-going cosl-cutbng review we approached lh8 Army regarding acc(xnmodation. We
were gratefvl to be offered accommodalion al Sir John Moore Barracks in Winchester, offering a
significant financial saving to our Gharity and increased engagement with the serving community. A
successful relocation was achieved and our commercial accommodation contract ceased al the end of
the reporting period.
We continue lo support our ATS and WRAC Veterans through our Benevolent Fund grants, working
closely with SSAFA and RBL. Emergency funding can be provided to former ATS and WRAC via th8
Veterans Charity who distribute our funds through our partnership.
The Female Vetarans, Transfomation Programme continued lo bulld momentum with the appointment
of a Programm8 Officer to supportthe Programme Lead. and signrficant engagement across the veteran
charity sector, statutory providers including NHS bodies and trusts. and government including Cabinet
Office, Office for Veterans, Affairs. and the devolved nalionsfveterans, commissioners of Northern
Irdand, Scotland and Wales. The WRAC Association is on track to deliver a strong product in a toolkit
of resources which will significantly improve oulcomes for female veterans accessing setvlces in the
UK.
PLANS FOR FUTURE PERIODS
In October 2024 we will continue the process of re-presgnting berets and cap badg&s lo WRAC veterans
as part of the Army's response lo the recommendations from the Elherton Review. We plan lo do this
as part of a weekend of events in Guildford which will also mark the 601h anniversary of the opening of
the Queen Elizabeth Barracks. and the 50d) anniversary of the Guildford pub bombings where tsvo
WRAC servicewomen were killed by the IRA alongside two Scots Guards and a civilian.
In March 2025 w8 will head to Cardiff for our Grand Reunlon - a triennial event which brings WRAC
and ATS veterans together from across the UK and the world. Over three days we will welcome 400
members to enjoy a packed agenda including a Gala Dinner. 89ating Retreat. AGM and Drumhead
s&rvi.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
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REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
FINANCIAL REVIEW
Income derlved from the investment portfolio is the main incom8 stream for the Association,
supplemented by ad hoc gaCleS and donations.
The Association showed net oulgoings of £126,823 for the year. The net gain on investments this ygar
was £799.405, resulting in a nel gain of £672.582.
The charty do8s not actively fundral$e or seek legacies. atb&it thè charity is extremely appraciativa of
those who have made provision for the Association in their wills. The charity re¢eived £145.913 of
legacies in the year.
INVESTMENT POLICY AND PERFORMANCE
The investment objectives are set out in the Investment Policy- to balance income and capital retums
over the long term, presBrve th8 real capital value of the funds and meel the ongoing incomo
requirements oflhe charrty. Trustees instruct RBC Brewin Dolphin to manage the charity's invèstmgnts.
Investment returns were £236.375 and at the end of the year the market values were £8.158,935.
Investment management costs of £27,557 for the year were charged to the portrolD.
RISK MANAGEMENT
Risk Management is a standing Item on the Agenda at Trustees meetings and the Rlsk Register
reviewed regularfy by the Management B08rd. Succession planning for the Officers of the Association
is an ongoing risk and planning is in place. albeit those in place now are so for 3 years and are supported
by the CEO'S ability to step up. Likewise. planning is in place to manage long term stsff absence.
RESERVES STRATEGY
A Reserves Policy provides essential a¢wuntabilty to funders. donors and other stakehokjers and is
held lo help the charity operate efficbenlly.
The charity uses easi accessible cash from Special Interest Bearing Accounts ISIBA) to meet the
usual op8rating costs. The worf(ing r8seNe is 3 monlhs of the budgeted operating costs and is available
from both SIBA and Brewn Dolphin. Liquidty and cash reserves are monitored by the Financial Officer
and reported quartety to the Managemenl Board. Vvhen reviewing the Reserves Policy Trustees
always seek advice on markel conditions from the Investment Manager.
Al the end of the year the charity held total reserves of £8,263,051 of which £8.226.847 was
unrestricted, £33,905 was restricted lo the Female Veterans, Transfomialion Programme and £2,299
restricted to the COBSEO Female Cluster Group.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Status of the Charlty
The Women's Royal Amiy Corps AsSlatiOn, incorporating Queen MarS Army Auxiliary Corps and
Auxiliary TerrTlorial Setvice Comrades Association. is a registered charity, founded by a trust deed in
1919. Thg Association is governed by the rules and regulations sel down in the trust dgad.
Following advice received from the Charity Commissioner during the year ended 31 October 2000. bNO
related but praviously separate charities (The Auxiliary Territorial Servicè B8navolent Fund & th•
omen's Royal Anny Corps Benevolent Fund. and The Princess Royal's Mgmorial Fund} were
amalgamated with the Association.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 4
REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Auxiliary Territorial Service Benevolent Fund was established by a trust deed on 1 August 1944.
The Women's Royal Army Corps Benevolent Fund was established by a trust deed on 28 December
1950. The Benevolent Funds were combined under a SGheme of Ihe Charity Commissioner on 28 April
1961. This scheme was suporseded by another scheme on 21 October 1964. and subsequent
supplemental orders dated 17 February 1993 and 3 April 1997.
The combined Benevolent Funds formed a registered Charity, govemed by the rules and regulations
59t down in the amended trust deeds. Following amalgamation with the Association. the eharilabta
registration of the Benevolent Funds. under charity number 247793, was removed and the funds wgrg
r8-regislered as a subsidiary charity of the WRAC Association.
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 reglgtration has ceased.
Charlty Name
WRAG Association lincorporats'ng Queen Mary's AJMY Auxiliary Corps and Th• Auxiliary Territorial
Se¢vlce Comrades Association).
Charlty Number
206184
Prfnclpal Address
ATR Winchester
Sir John m(re Barracks
Andover Road Nijrth
Winchester
Hampshlre
S022 6NQ
Banker
Royal Bank of Seotland
31-37 Victoria Road
Famborough
Hampshire
GU14 7NR
Auditor
Rolhm8ns Audit LLP
Avebury House
6 Sl Peter Street
Winchester
Hampshire
S023 8BN
Investment Mana er
RBC Brewin Dolphin
12 Smithfield Street
London
EC1A 9BD
Th? Trustee$ and Coun¢il of the A8$oGlalion
The Trustees are the Managing Truslees ofthe WFUC Association and are:
The Association Officers- Vice President, Chair of the Membership Council, Chair of the Benevolènt
Fund and Treasurer.
Elected Members- up lo g. Ar¢ Elected Member shall be proposed by any other Trustea and is to be
approved by the Trustees. An Elected Trustee Member shall serve for an initial period up lo 3 years
and thereafter may be re-appointed and serve for up to Iwo more consecutive 3-year terms19 years in
totall with annual ratification by the Trustees. Tenure as an officèr does not run Concurrently Mth that
of a Trustee
The Trustees are supported by the CEO. Finance & Governance officer & Grants officer.
The Memb8rship Council Is responslble ft)r offering advice and recommendations lo Trusl8es on
membership matters for WRAC Association Branches, Mèmbers and the wider Servic6 charity sector,
particularly in relation to membership relations.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 5
REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Membership Council consists of..
Chair of the Membership Council (a Trustee)
Chair of the Benevolent Fund la Trusleel
All Life Vice Presidents
All Area Co-ordinators
Editor of the Lioness - ex officio
Honorary Appointments within the Association to act as ex officio mgmbers le.g. Lawyer and Padre)
excgpt the Trèasurèr who is an Officer of the Association.
Management Board
The Membership Council is responsible lo the Management Board for growng. reviewing, monitoring
and making decision$ on membershlp. membershlp structure 8nd events. The Membership Council
sets the direction for relationships with WRAC Association Branches and the wider Service charity
sector and is a forum for recommending change to Trustees as it affects the Membgrship. It is
supported by other sub committegs formgd for spe¢ifi¢ purposes.
The members of the Management Board are..
VI President & Chair of Board of Trustees
Chair of Membership Council (and Oepuly Vic8 President)
Chair of Benevolent Fund
Treasurer
Chief Executive Officer
Trustees who have held office since 1 October 2023 are as follows..
Trustees
Brig (Retd) F H Gardner CBE
Vice Pr•sid•nt
Appointed Vice President
March 2021.
Reappointed March 2024
Appointed Trustee February
2020.
Rea ointed Februa 2023.
Appoinl8d Trust February
2011
Reappointed Trustee July 2024
Ll Col (Reldl R C Naile MBE
Chair of the Membership
Council since March 2021
Chair of thé EFC from July
2014 to March 2021
Chair of the Benevolent
Fund (from July 2023)
Maj (Retd) M C M Jones
Appointed Trustee May 2015
Reappointed Trustee February
2023
Appointed Tiustee April 2015
Reappointed Trustee February
2024
Served as NEM November
2018- June 2019
Appointed Twstee July 2019
Rea
ointed Trustee Jul 2022
Appointed Trustee February
2017
Reappointed Truslee February
2024
Appointed Trust8é Fèbruary
2017
Reappointed Trustee February
2024
Maj IRetd} C H Merringlon-Rust
MBE
Doputy Chalr of the
Benevolont Fund
Lt Col (Reld} T R Savage
Treasurer apwjinted July
2022
Miss B Johnson
Mrs S Mackènzie
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 6
REPORT OF THE TRUSTEES AND COUNCIL OF THE ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Col {Retd} A Hassell
Appointed Trustee August
2017
R8a
inled Trustee Jul 2024
Appointed Trustee Juty 2019
Rea
inled Trustee Jul 2022
oinled Trustee June 2023
ointed Trustee June 2023
Ms SMF Veillard-Thomas
MS Dawn Menda
Ms She119 Whitehead
Ex4)fflcS0 A olnlmènts
PRO
ers
Mrs J Winfield
Chlef Executlve Offlcèr
Finance & Gov•rnancg
Offlcèr
A oinled Ma 2021
Appointed July 2023
The Role of Trustees
To provide the level of Govemance necessary for the WRAC Association, the Trustees are expected
to attend all Trustee Meetings. Ihe AGM, and at least one hAalor Grants Committee Meetings IMGCMI
a year. prior to which a newly inducted Trustee would be expected to shadow a MGCM at least
once. The WRAC Association ¢ontinues to subscribe to the Charity Commission's on-line updales, the
COBSEO newsletter, Gov.UK updates and NCVO e-bulletins.
Trustees are requtred to disclose all relevant Interests and regisler them wtth the Vice President and in
accordan¢0 with thè WRAC Association's policy are to withdraw from decisions where a conftict of
interest arisgs.
KEY MANAGEMENT PERSONNEL REMUNERATION
All Trustees give ofthairtime freety and no Trustao ramunèration was paKI in the rep)rtbng yasr. Dotails
of Truslee expenses and related party transactions are disclosed in this report.
GOVERNANCE
A Governance Audit took place in June 2022. Th8 COBSEO audit tool, approved by the Charity
Commission was used. The overall score was 71180., a 9reen outcome overall indicating good
govgrnance. The Trustees intend to follow this procedure on a 3-yearly basis alongside the audit of
Trustee skills also 3-yearly. The next Governance and Skills Audits will take place in the summer of
2025.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The charity Trustees are responsible for preparing the Trustees, Report and the financial ststemenls in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trusteos lo prepare financial statements
for each financial year that give a Irue and fair view of the state of affairs of the charity and of the
incoming resources and application of resources of the Charity for that peri(#J. In preparing these
financial statements, the Trustees are required to-.
S8lect suitsble accounting F)011eS and then apply them conststently;
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent..
stale whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements-
prepare the finan¢Èal statements on the going concem basis unless it is inapprowiate to
presume that the charity will Continue in business.
THE WOMEN'S ROYAL ARhlY CORPS ASSOCIATION
Page 7
REPORT OF ThE TRUSTEES AND COUNCIL OF THE ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Trustees are responsible for keeping sufficient accounting records that disclose wilh reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financial
statements comply WFth the Charities A¢1 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.
The Trustees are wponsible for the maintenance and integrity of the charity 8nd financial information
included on Ihe charity's website in accordance with legislation in the Uniled Kingdom governing thé
preparation and dissamination of financial sl8t8m8nts.
In so far as th& trustees are aware..
there is no relevant audit information of which the charity's auditors ar8 unaware.. and
the trustees have taken all steps that they ought to have taken to make themselves aware of
any relevant audit information and to establish that the auditors are aware of that information.
Approved by the Trustees on ......
Signedon behalfofthe board.............
f45É .
Brigadier (Relld) Fiona Gardner CBE, Chaimian
REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES OF
Page 8
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Oplnlon
We have audited the financial statemenls of The Women's Royal Army Corps Association for the year
ended 30 S&ptember 2024 which comprise the Statement of Financial Activities, the Balance She8t.
the Statewnent of Cash Flows and the notes to the financial statements, including a summary of
significant accounting policies. The financial reporting framework that has been applied in their
preparation 1$ applicable law and United Kingdoffl Accounting Standards, including Financial Reporting
Standard 102.. The Financial Reporting Standard applicabl8 in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practice}.
In our opinion. the financial sL9tements:
give a true and fair view of the state of the Charivs affairs 8$ at 30 September 2024 and of
its incoming resources and application of resources for the year then ended,.
have been properly prepared in accordance with Unlted Kingdom Generally Accepted
Accounting Practice-
have been prepared in aGcordance wfth the requirements of the Charitios Act 2011.
B8s1s for oplnlon
We conducted our audit in accordance with Intematlonal Standards on Auditing {UK} (ISAS (UK)) and
applicabla law. Our responsibilities under those standards are further described in the Auditorfs
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 to our audit of the financial
$talements in the UK. including the FRC'S Ethical Standard, and we have fvIFilled iyjr other ethical
responsibilities in aootsrdance with thesè requirements. We believe that the audit evidence we have
obtsined is sufficient and approprial8 to provide a basis for our opinion.
Conclusions r•laling to going cone•m
In auditing the financial statements, we have ¢on¢luded that the trustee's use of the going concern basls
of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identffied any materfal uncertainties relating lo
events or conditions that, individualty or collectively. may east signifieanl doubt on the charity's ability
to continue as a going concern for a perlod of at least 12 months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibili118s of the trustees with respect to going Goncem are deg¢ribed
in Ihe relevant sects'ons of this report.
Other Infonnatlon
The other infomiation comprises the information included in the annual report, including the tnjslees,
report, other than the financial statements and our auditor's report thereon. The trustees are responslble
for the other information contained within the annual report. Our opinion on the financial stat8m8nts
does not cover the other information and. 8XC8Pt to thg 8Xtent otherwisg explicitly slated in our rgport.
we do not oxprgss any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consid&r whether th8 other
information is matorially inconsistent with the financial statements or our knowledge obtain8d in the
course of the audit, or othemise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether this gives
rise lo a material misslatemenl in the financial statements themselves. Ir, based on the work we have
performed, we conclude that there is a mal&rial misstatement of this other information, we are required
to report that fact
We have nothlng to report in this regard.
REPORT OF ThE INDEPENDENT AUDITORS TO THE TRUSTEES OF
Page 9
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Matters on which we arn r•quired to roport by excoption
In the light of the knowbdge and understanding ofthe charity and Its environment obtained in the course
of the audit. we have not identified material misstslements in the Trustees. Annual Report.
We have nothing to report in respect of the folbwin9 matters in relation to which the Charrties {A¢unts
and Reports) RegulatnS 2008 requlres us lo report lo you if, in our opinion..
the information given in the trustees. report is inconsistent in any material resp9¢1 wth the
financial statements., or
sufficienl accounting records have not been kept; or
the financial stal8ments are not in agreement with the accounting records.. or
we have not obtained all Ihe information and explanations we require for our audit.
Responsibilities of the trustees
As explained more fvlly in the trustees. r@spon5ibilities statement, the trustees are responsible for the
preparation of the financial ststemenls and for being satisfied that they give a true and fair view. and
for such internal control as they determine is necessary to enable the preparation of financial statements
that are free from material misstatement. whether du8 10 fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the Charity's ability to
continue as a going con¢em, disck)sing. as applicable, matters related to going concern and using the
going concem basis of accounting vnless the Irusteas either intend to liquidate the Charity or to cease
operations, or have no realists'c allemative bul to do so.
Audltor's re8ponslbllltl•s for thg audlt of the finan¢lal statemants
We have been appointed as 8uditor under Section 144 Charities Acl 2011 and report in accordan¢e
with the Act and relevant regulations made or having effect Ihereunder.
Our otieclives are to obtsin reasonable assurance about whether the financial statements as a whole
are free from material rnis5talement, whether due to fraud or error. and to issue an auditor's report that
indudes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an
audit conducted in accordance with ISAS IUK) will atways detect a malorial misstatemenl when it exists.
Misstatements can arise from fraud or 8rror and are considered material if, individually or in th6
aggregate. they could reasonably be expected to influence the economic d9cisions of users tsken on
the basis of these financial statements.
Irregularities, Including fraud. are instances of rn-COmPlianOe with laws and regulations. We design
procedures in line with our r8sponsibililies, outlined above. to detect material misstatements in respect
of Irregularities, including fraud.
Th• axtent to whlch the audit was Gonsldered capablè of delectlng Irrogularftles Including fraud
Our approach to Identing and assessing the risks of materS8l misstatement in respect of irregularitie5.
including fraud and non-compliance with laws and regulations, was as follows:
the engagernenl partner ensured that the engagement team colleclivety had the appropriate
¢ompelence, capabililieg and skills to identify or recognise non-compliance with applicable laws
and regulations.,
we id&ntffied the laws and regulations applicable to the charlty through discussions with the
trustees and other managomenl, and frown our knowledge and experience of the charities
sector,.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
Page 10
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
we focused on specific laws and regulations which we consKlered may have a direct material
effect on the financial statements or the operations of the charity. Induding the Charities Act
2011, Gift Aid, employment, and health and safety legislalion.. and
we assessed the extent of Compliance with the laws and regulations identified above through
making enquiries of management and inspecting18gal correspondence. The identified laws and
regulations were communicated within the audit team regularly and the tsam remained alert to
instsnces of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to matorial misstatemenl. in¢ludlng
obtaining an understanding of how fraud might occur, by..
making enquiries of management as to wheTr they Considered there was susceptibilty to fraud.
their knowledge of actual, suspected and alleged fraud., and
considering the internal controls in plac8 to mitigate risks of fraud and non-complianc8 With laws
and regulations.
We identified the greatest risk of material impath on the financial statements from irregularities. including
fraud, to be within the recognition of income and the overrid8 of controL8 by management. To address
the risk of fraud in these areas. we=
selected a sample of transactions from material income streams and compared expectèd
income to that recorded within the financial statements..
perfomied analykn'cal procedures to id9ntify any unusual or unexpected relationships-
tosted journal ontries during the year and at the year4nd to idantify unusual transactbons-
assessed whetherjudgements and assumptions made in detemiining the accounting 8slimates
set out in the notes to the accounts were indicative of potential bias. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularfties and non-c4)mpliance with laws and regulations. w& desKJnod
procedures which included. bul were not limited to..
agreeing financial statement disch)sures to underfying supporting doGumentstion.'
reading the minutes of meetings of those charged with governance-
enquiring of management as lo actual and potential litigation and claims-
r8viewing corr&spondence with relevant regulators. such as the Charities Commission. and
reviewed legal and professional 8xpenditure incurred in the year.
There are inherent limitations in our audit procedures described above. The more removed that laws
and r8gulations are from financial transactions. the less likely it is that we would becoma aware of non-
compliance. ALtditing stsndards also limit the audit procedures required to identify non-compliance wlth
laws and regulations lo enquiry of the directors and other management and the inspection of regulatory
and legal Gorrespondence, if any. Material mlsstatements that arise due to fraud can be harder to detect
than those Ihal arise from error as they may involve deliberate concealment or collusion.
A further description of our r9sponsibililies for the audit of the financial statements is k)cated on tho
Financial Reporting Council's website at.. www.frc.or
-ukJa¥Jditorsres
nsibilitias. This description forms
part of our auditor's report.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
Page 11
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Use of our report
This report Is made solely to the Charity's trustees. as a body. in accordance with section 144 of the
Charities Art 2011 and the regulations made under section 154 of that Act. Our audit work has been
undortaken so that we mtqht state lo the Charity's trustees those matters we are required 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 assum8 responsibility lo anyone other than the Charity's trustees as 8 body, for our audit
work. for this report, or for the opinions we hav8 formed.
Rothm8ns Audit LLP
Chartered A¢counl8nts and Statutory Auditors
Avebury House
St Peter Street
Winchester
Hampshire
S023 8BN
4 March 2025
Rothmans Audit LLP is eligib19 to act as an auditor in temis of section 1212 of the Companies Act 2006
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 12
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Total
Fund8
Year
End
30.09.2023
Fund$
Y•ar
Endgd
30.09.2024
N¢ts$ Unr•$trSctod
Funds
Ro8trlcted
Fund$
INCOME FROM:
Donations and legaues
charitab activlts"88
InveslrnBnts
0th8r incorna
186.508
763
2{,444
5,411
96.820
283,328
763
236.375
5.411
117.027
29,931
224,414
5.915
TOTAL INCOME
399.126
128.751
5.877
347,356
EXPENDMJRE ON:
Raising funds
Charitable a¢tMties
22,410
416,963
5.147
208,180
27.557
625,143
564.101
Totsl Exp•ndltur•
439,373
213,327
652,700
600.691
Nat Gatn81 IlcB8881 on invesbnents
io
429,169
370,236
799.405
119.621
NET INCOME I IEXPENDThUREI
388.922
283,6eQ
672,582
1133,7141
Transfers beknveen
16
6.444,474
16,444,4741
NET MOVEMENT IN FUNDS
6,833.396
16,160,814)
672.582
1133.7141
RECQNCIUATION OF FUNDS.,
Total FLmds brtyjght forn¥d
19
1,393,451
6,197.018
7.5),469
7,724,183
Totsl funds foN¥a
8.226.847
36.204
8.263.051
7,59),469
The stslement of financial acts'vities includes all gains and losses r8cognis8d in the year.
All income and expenditure derive from wntinuing activities.
The notes on pages 15 to 31 fomi part of these financial statements.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 13
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
2024
2023
Not8s
FIXED ASSErs
Intangible assets
Tangible assets
Investments
6,313
3.937
8,158.935
8,169.185
8,206
2,480
7.494,790
7,505.476
10
CURRENT ASSErs
Stock
Deblixs
Cash al bank and in hand
11
12
13
2,190
84,952
33.274
120,416
32.832
59.791
97.087
LIABILrriES
Creditors= Amounts falling due within one yaar
14
26,550
12.094
NET CURRENT ASSETS
93.866
84,993
TOTAL NEf ASSETS
8,263.051
7.590.469
FUNDS OF THE CHARrrY
Restricled Funds-.
The Benevol&nl Funds
The COBSEO Female Cluster Group Fund
The Female Veterans Transformation
Programme
16
17
6.155,806
5.541
2,299
18
33.905
35.671
Unr85tricted funds:
General Funds
19
8.226.847
1.393,451
TOTAL FUNDS
19
8,263,051
7,590.469
The financial statements were approved by the Board of Trustees onl1...7.5. and
on its behalf by..
were signed
Brlgadier {R8t1dI Fiona Gardner CBE, Chairman
Th& notes on pages 15 to 31 fomi part of thesp finanoial staten7ents.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 14
STATEMENT OF CASH FLOWS
AS AT 30 SEPTEMBER 2024
2024
2023
Notes
Not cash (used Inl opornting activitiès.,
{395,593)
1474.4701
Cash Ilows from invosting activiti85
Dlvldends and Interest from investments
Purchase of intangible assets
Purchase of propety, plant and equipment
Proceeds from sale of investments
Purchase of invgstments
236.375
224,414
12,5591
370.669
235.409
369,076
516,387
224,051
516,750
Nét Cash provided by investing activities
Changg in Cash and cash equlva10nts In the year
126,5171
42,280
Cash and Gash equivalents at the beglnnlng of the year
59.791
17,511
Cash and cash •quivalents at the end of the year
33.274
59.791
NOTES TO THE STATEMENT OF CASH FLOWS
STATEIAENT OF CASH FLOWS NOTE 1: RECONCILIATION OF NET INCOME TO CASH
FLOW FROM OPERATING ACTIVITIES
2024
2023
Net movement in funds
Adjustments for=
Depreciation and amortisation charges
IGainslAosses on investrnents
Dividends and interest from investments
Ilncreaseydecrease in stocks
Ilncreaselldecrease in debtors
Increasel(decrease) in creditors
Net cash {used inl operating activities
672.582
(133,7141
2.995
1799.405)
1236,3751
2,274
152,1201
14,456
395,593
2.939
1119,621 }
1224.414}
1482}
10,792
9,970
474,470
STATEMENT OF CASH FLOWS NOTE 2: ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
2023
Cash al bank and in hand
Totsl Cash & Cash Equivalents
59.791
33,274
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 15
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The accounls (financial statements) of the charity have been prepared under the historical cost
convention wtth items re¢ognised al cost or transaction value unless otherwise slated in the relevant
notes lo these accounts. The accounts have been prepAred in accordance the Charities SORP IFRS
1021 'Accounling 8nd Reporbng by Charrf(ies.' Statement of R8¢ommended Practice applicable to
charitiès preparin9 their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland {FRS 102} (effective 1 January 20191., Financial Reporting Standard 102
'The Financial Rewrting Standard applicable in the UK and Republi¢ of Ireland, and the Charities Act
2011.
The charity constitutes a publiG benefft entity as defined by FRS 102.
The accounts Ifinanclal statements) have been prepared to glve a Irue and fairf view and have d8parted
from the Charities {Accounts and Reports) Regulations 2008 only lo the extent required to provide a
'Iruo and fair view,. This departure has involved following Accounting and Reporting by Charities
preparing their accounts in accordanc8 Wlth the Financial Reports"ng Standard applicable in the UK and
Republic of Ireland IFRS 1021 (effective 1 January 2019}, rather than the Accounting and Reporting by
Charilies.- Statement of Recommended Practice effective from 1 April 2005 which has since been
withdrawn.
The presentational and functional currency of the charity is Pound Sterllng. The accounts are rounded
to the nearest pound.
The Charity's principal office is ATR Winchester. Sir John Moore Barracks Building 2,. Andover Road,
Wlnchester, Hampshire, S022 6NQ.
The trustees consider that there are no material uncertainties about the Association's ability lo continue
as a going concem and these accounts have been prepared on a going concern basis. There are no
significant judgements whlch affect the amounts recognised in these financial statements.
With r8spect lo the next rgporting period, th8 most signfficant areas of uncertainly that 8ffeel the carying
value of assets held by th8 Trust 8re the level of investment return and the perfomance of investment
markets.
FUND STRUCTURE
Following advlce received from the Charity Commissioners during the year ended 31 October 2001,
two retalod, but prevlously separate charilles (The Auxiliary Territorial Service Benevolent Fund & The
Women'5 Royal Army Corps Benevolent Fund, and The Princess Royal's Memorial Fund} were
amalgamated wth the Association.
The Benevolent Funds including th8 Princess Royal Memorial Fund is the restricted fvnd repr9senting
the activities of The Auxiliary Territorial Service and The Women's Royal Army Corp5 8enevolent Fund
(incorporating the Princess Royal's Memorial Fund) that provides one-off grants. annuities and nursing
home fees to ex-servrce women. The funds of these amalg8mated charities were historically Irealed as
restricted by the Trustees, however the Trustees have taken legal advice regarding the nature of these
fijnds and have determined that there are no legal restrictions on their usage, as the objects of the
Benevolent Funds srt wtthin the objects of the Association. The Trustees therefore ratified a decision to
merge the Benevolent and Association funds into a single fund in November 2023.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 16
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
FUND STRUCTURE {continuedl
These financial statements present in aggregate, the results for the y88r ended 30 Seplember 2024
and the balance sheet position as al 30 September 2024. for the three original ¢harities with
¢gmparatives for the year ended 30 September 2023.
THE BRANCHES OF THE ASSOCIATION
The Branches of the Association do not 8xpr8ssly further rts Objects through any expliclt or implicil
power provided by the Association's Consl¢tution- neither control nor management is exercised.
Furthermore, the Association's Constitution recognises formally the distinctiveness of a Branch's
financial commitments from that of its own. On that basis, the Membership Council has decvjed to
separale any financial connection that has existed and recognise in a clear and transparent way that
there is no financial dependency of the Association on the Branches or vice-versa and that neither
Control nor managemejt has been or will be exerclsed. As such branch Income and expendlture Is not
r8cognised in these financial ststemenls
INCOME RECOGNITION
All incoming resources are recognised once the charity has entitlement lo the income. it is probable that
the income will be received and the monetary value of incoming resources can be measured with
sufficient reliability.
Donations are recogni$8d upon receipt. Membership income is recognised gvgnly ovgr a 12-month
period from the date of receipt. The charity reducgd subscriptions to Z8ro in March 2024. L8ga¢y gifts
are rgccyJnised on a case-by-case basis following the granting of probate when the
administratorlgxecutor lor the estste has communicated in writing both the amount and settlement date.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably
by the charity.. this is normally upon notification of the interest paid or payable by the bank.
Dividends are recognised once the dividend has been declared and notification has been received of
the dividend due. This is normally upon notification by our investment advisor of the divldend yleld of
the investment portfolio.
RESOURCES EXPENDED
All expenditrjre is accounted for on an accruals basis, and has b88n classified under h8adings that
aggregate all costs related to that category.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of th8
Trust. They are accounted for when the recipient has a reasonable expectation that ihey will receive a
grant, and the Trustees havg agreed to pay the grant without condition.
Ail resources expended arg inclusive of irrecoverable VAT.
ALLOCATION OF MANAGEMENT AND ADMINISTRATION COSTS
Management and administration costs. including support costs and governance costs. have been
allocated between charitable activities as shown in note 7. Where costs cannot be dir8clly allribuled to
a particular activity they are allocated on a basis consistent with the use of resources. for example, staff
sts are allocated based on Ihe proportion of time spent by staff m8mb8rs on each activity.
Gov8manco costs comprise all costs involving the public accountsbility ofthe charity and its compliance
wilh regulation and good practice. These costs include ¢o$ts related to statutory audit.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 17
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
FINANCIAL INSTRUMENTS
The charrty only ha$ financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently
measured al their settlement value with the exptIOn of investments which are measured al their fair
value 88 described more fulty below.
INTANGIBLE FIXED ASSETS
Intangible assets consist of compLrter software costs related to the design and building of a bespoke
online database. The asset was In development as al 30 September 2017 and was brought into use in
February 2018. The charity intends to keep updating the database sothvare as necessary and to use it
for the foreseeable future so il is not possible lo reliably estimate the actual lifespan of this asset. A 10-
year lrfespan has therefore been adopted as this is the longest period permilled by FRS102 in these
circumstances. Amortisation costs 8re included wtthin expendmure on charitable activibes in the
Statement of Financial Activities.
TANGIBLE FIXED ASSETS
Assets costing £100 or more are capitalised as tangible fed assets and are carried at cost. nel of
depreciation and any provision for impairment. Depreciation is provided at the following annual rates in
order to write off each asset over ils estimated useful life-
Computer equipment
Office equipment
Straight Line over 5 years
Straight Line over 10 years
INVESTMENTS
Investments are a fom of basic financial instrum6nt and are initially rQgnised at their transa¢lion
value and subsequently measured at their fair value as al the balance sheet date using the closlng
quoted markel price.
The Assoelation does not acquire pul options, derivatives or other complex financial inslrumenis.
All gains and losses are taken lo the Statement of Financial Activiti'es as th8y arise. Realised gains and
losses on investm8nts ar9 calculated as the dtfferèneè bafvleen sales proeeads and their opening
carrying value or their purchase value if acquired subsequent to the first day of the financial year.
Unrealised gains and losses are calculated as the difference b&een the fair value at the year-end and
their carrying value. Realised and unrealised investment galns and losses are combined in the
Statement of Financial Activities.
The main ft)rm of financial risk faced by the charity is that of volatilty In equity markets and investment
markets duè to wider economic conditions, the attitude of investors to investment risk, and thanges in
sentiment concernlng equities and within particular sectors or sub sectors.
STOCKS
Stocks are stated at the lower of cost and net realisable value.
CREDITORS
Creditors and provisions are recognised where the charity has a present obligation resultlng from a past
event that will probably result in the transfer of funds to a third party and the amount due to settle the
obligats.on can b8 maasur8d or gstimated reliably. Creditors and provisions are nomally r?gniSed at
their settlement amount after allowing for any trade discounts due.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 18
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PENSION COSTS
The company operates a defined contribution pension schame. The assets of the scheme are held
separately from those of the company in an independently administered fund. Contribultons payable for
the year are charged in the income and expenditure account.
FUNDS RECEIVED AS AGENT
Whefe the charity receives resources which it 1$ bound to pay over to a specified third party the
transacknon is not recognised in these accounts as the charity has no discretlon over the use to which
the funds are applied. The receipt of funds is not recognised as income nor is the distribution of funds
recognised as expenditure.
DONATIONS AND LEGACIES
2024
2023
Unrestrlctgd
Annual Associaln subscrlptions
Donation5 to the Associalion
Legacies
Grants Return8d
14.455
23,231
145.913
2.909
186.S08
13,932
20,742
21.200
55.874
Restrlrted
The B8nevol8nt Funds=
Donations
Legacies
Grants Returned
The Female Veterans Transfomiation Pro¥Jramme Fund:
Grants Received
1,156
1,205
12,497
95,131
47.500
61.153
283.328
117,027
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Unrestrfd
Ir)come from Grand Reunion
Incom6 from Other Events
763
763
THE WO
EN'S ROYAL ARMY CORPS ASSOCIATION
Page 19
NOTES
O THE FINANCIAL STATEMENTS
FOR TH¢ YEAR ENDED 30 SEPTEMBER 2024
VESTMENT INCOME
2024
2023
Unrestr
D6vid8nd income
Deposit
SIB accounts Intoresl
205.921
523
206.444
42,156
411
42,567
Restrl*d
The Be
volent Funds..
Divid
d incom&
Depo
il & S18 aceounts interest
29,488
443
29,931
181,688
159
181,847
236.375
224.414
Investment income arises from the charity's inveslmenl portfolio. which is a financial instrument carried
at fair vaiae through the Statement of Financial Activities.
HER INCOME
2024
2023
Unre$triFt•d
Memoratyilia Sales
Prize Draw
Grft Aid
2.465
2,215
2.946
5,411
5,659
Restrfct
Gift Ald Tax
256
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 20
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
EMPLOYEES
2024
The average monthly number of peisons employed by the Association during the year was-
2023
Office & Administration
Female Veterans Transformation Project
Staff $ts for the above persons..
Wages & Salaries
Social Security Costs
Pension Costs
207,457
14,162
10,457
232,076
123,964
5,413
7,095
136,472
No employeos Teceived employee benefits in excess of £60.000.
The charity considers Ihe Board of Trustees to be its key management personnel. No Trustee
received any remuneration for services to the Association in the current or previ$ year.
Reimbursements for travel expenses tolalling £5,698 were made to 7 Trustees12023- £5,006 to 9
Trustees) and of £4,102 to 9 CounGil metnbers {2023." £4.823 to 10 Council mmb8rs).
The charity makes contributions to defined contribution pension schemes on behalf of its gmployegs.
The St$ of thesg contributions are aliocatod between unrestricted and rgstriclgd funds on thg basis
of the time spent by each &mploye& on the activibes und&rtak8n by each fund.
RAISING FUNDS
2024
2023
RESTRICTED
Benevolent Fund - Investment Managgmgnt
5,147
5.147
29,862
29,862
UNRESTRICTED
Investment Management
22,410
22.410
6.728
6.728
CHARITABLE ACTIVITIES
Dirgct
Costs
Grant
Funding
Support
Costs
Total
2024
Total
2023
Unrestrided Funds
Restricted Funds
54.135
100,355
129.232
88.117
233,596
19,708
416,963
208.180
126.012
438.089
154,490
217,349
253.304
625,143
564,101
During the year. the ¢harity 5LlPPOrted 148 benefi¢iaries and distrfbuted 182 (2023.. 199} 9r?nts to
indlviduals totslling £217.349 {2023- £262,967).
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 21
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
CHARITABLE ACTIVITIES lcontinued...)
2024
2023
UNRESTRICTED
Dlrect Costs - Grant Funding
Benevolent Funds Grants
prtncess Royal's MemorSal Grants
Annual Malnt8nance Grants
124,682
2,600
1,950
129,232
Dlrect Costs
Lioness publication costs
Membership Activities
Grand Reunion
Remembrance
Wigan Summer event
Guildford Evensong
Worthy Down
Great Yamiouth
Other Events
National Memorial OretUM
Statues & Statuettes
Memorabilia Purchases for Shop
Christmas C8rds
standard 8earers
Flowers
Presentations
28,702
9.615
936
1,311
483
2,251
1,530
2,754
1,250
32
2.046
4,518
1,958
1.603
793
318
167
17,686
120
5,587
1,220
3.492
52
420
663
54.135
Support Costs
Staff Costs
Travel & meeting exp8n$gs
Printing, postage & stationery
Sundry office èxpansas
Marketing
Govemanc8- Auditors Remuneration - Audit
Govemance - Auditors Remuneration - Other
Govemance - AGM
Governance- Trustees meetings, training & advice
Governance- TNstees Costs
Govemance- Council Costs
144,069
3,604
4.173
37.064
22,770
4.147
1,325
3,612
3,165
5.634
4,033
233,596
62,722
1.945
1,635
14.535
15.630
1,701
738
3,001
2,075
2,456
1,888
108,326
TOTAL UNRESTRICTED
416.963
126.012
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 22
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
CHARITABLE ACTIVITIES l¢ontlnued...)
2024
2023
RESTRICTED
Dlrect Costs - Grant Fundlng
B6nevolenl Funds Grants
prin$$ Royal'g Memorial Grants
Annual Mainlenan¢e Grants
50.217
22.210
15,690
88.117
210,697
35,750
16,520
262,967
DiroGt Costs {8en•volgnt Funds)
Lioness publication costs
Thanksgiving for Her Majesty Queen Elizabeth 11
Chnslmas Cards
42.143
144
1,603
43.890
216
216
Dirgd Costs {CO8SEO Fomalo Clusl•r Groupl
COBSEO Expenses
3.242
3.242
3.988
3,988
Dir•¢t Costs {F•mal• V•tèrans Transforniallon Programme)
FVTP expenses
96,897
96,897
11,829
11.829
Support Costs {Bonevolent Funds)
Stsff Costs
Travel & meeting expenses
Printing, postage & stationery
Sundry office expenses
Marketing
Governance- Audrtors Remuneration - Audit
Governance- Auditors Remuneration - Other
Governance- AGM
Govemance- Trustees meetings, training & advice
Governance - Trustoes Costs
Governance- Council Costs
13,399
68,952
1,422
2,205
18,637
11,120
1.699
738
3,008
2.149
2.550
2.935
115,415
137
2,019
4.020
64
69
19,708
TOTAL RESTRICTED
208.180
438.089
TOTAL COSTS OF CHARITABLE ACTIVITIES
625,143
564 101
The total amounl of Govemance costs, as shown above, was £21,980 {2023: £22.0031. of which
£21.916 {2023.' £11,859) relat8$ lo unreslricled funds and £64 12023.. £10.1441 relates to restricted
funds.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 23
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
INTANGIBLE ASSETS
Cornputer
Soflware
Total
COST
At 01 October 2023
Additions
DisposaL8
At 30 September 2024
18,938
18.938
18.938
18,938
AMORTISATION
At 01 October 2023
Charge for year
Elimination on Disposals
AI 30 September 2024
10,731
1,894
10,731
1,894
12.625
NET 800K VALUE
At 30 September 2024
6.313
6.313
AI 30 September 2023
8,206
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 24
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
TANGIBLE FIXED ASSETS
Comput•r
Equlpment
Flxtur•s &
Fittings
Totsl
COST
At 01 October 2023
Additions
Disposab
AI 30 September 2024
6.231
2,559
3.830
10,061
2,559
8,790
3.830
12.620
DEPRECIATION
At 01 October 2023
Charge for year
Eliminatiorb on Disposals
At 30 September 2024
4,447
896
3.134
206
7,581
1.102
5.343
3,340
8,683
NET BOOK VALUE
At 30 September 2024
3.447
490
3,937
At 30 September 2023
1,784
696
2.480
Note: Fixed assets are allocated between funds as follows..
Unrestrictgd Fund
Restricted Funds - Benevolent Funds
Nel Book Value at 30 September 2024
3.447
3,937
3,447
490
3.937
Unrestricted Fund
Restricted Funds- Benevolent Funds
Net Book Value at 30 Sèpt8mber 2023
1,016
768
1,784
113
583
1.129
1,351
2.480
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 25
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
10.
INVESTMENTS
The investments are a financial asset measured at lair value through the SL8tement of Financi81
Ac16vitle9
2024
2023
Unrostricted general funds..
Br8win Dolphin Portfolio
8,158,935
8,158.935
1,396.047
1,396,047
Restrlcted Bonovolent Funds:
Brewin Dolphin Portfolio
6,098.743
6,098,743
Total Investments at market value
8,158,935
7.494,790
2024
2023
Investments at fair value comprise=
Lis16d Invostments
Cash held within the investment portfolio
7,846.456
312,479
8,158.935
7,347,939
146,851
7,494.790
2024
2023
Mart(et value brought forward al 1 October
Additions
Disposals
Unrealised gains l (losses)
Market value carrie¢J forward at 30 September
7.494,790
235,409
1370,6691
799.405
8,158,935
7,667.505
224.051
1516,3871
119,621
7,494,790
The historical cost of these Inveslments, purchased at various dales. is as folbws."
2024
2023
Unrestricted general funds
Restricted funds-.
Benevolent Funds
7.359.460
1,150,827
4,733,184
7.359,460
5 884,011
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 26
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
11
STOCK
2024
2023
Memorabilia Stock
2,190
4,464
4,464
12
DEBTORS
2024
2023
Due Within One Year..
Prepayments
A¢¢rued Income
Other Debtors
55,950
27,991
1,011
20.697
10,000
2.135
84,952
32.832
Unrestricted
Restricted
84.952
14.662
18,170
32,832
84.952
13.
CASH AT BANK & IN HAND
2024
2023
Bank accounts
33.274
59,671
Cash in hand
120
33,274
59.791
Unrestricted
Restrictod
33,274
26,653
33,138
59,791
33.274
Cash al bank and in hand 18 a financial asset measured at amortised cost.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 27
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
14.
CREDITORS
2024
2023
Amounts falling due within on8 year..
Accruals
Taxation & Social Securtty
Deferred Income
Other Creditors
4.561
6.629
21,989
5.465
26.550
12,094
Unrestrctèd
Restricted
26,550
8,816
3.278
12,094
26,550
2024
2023
Deferred income:
Deferred income brought fOard
Income released in current year
Income deferred in current ye8r
5,465
15.4651
21,989
5.353
{5,3531
5,465
Deferred income carried forward
21,989
5.465
The deferred income in 2023 relates lo membership subscriptions and other income for the next
financial period which were received during that period. Deferred Income in 2024 relates to income
received during the current year for events which are to take place In the next financial period.
15.
FUNDS RECEIVED AS AGENT
The charity did not receive any funds as an agent in the year ended 30 September 2024 or the year
ended 30 September 2023.
THE WOMEN'S ROYAL ARIAY CORPS ASSOCIATION
Page 28
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
16.
THE BENEVOLENT FUNDS
2024
2023
01 October 2023
Incoming resources
Donations and legacies
Investmenl Ineome
Other income
Resources expended
Raising Funds - Investment management costs
Charitable activities
(Losses} l Gains on investments
Transfer to WFiAC Association General Fund
6,155.806
6,310.169
1,689
29,931
13.653
181.847
256
15.1471
1108,0411
370.236
(6.444.474)
129.862>
1422,2721
102,015
30 September 2024
6,155,806
Cumulative unrealised gains on irkvestments includod in The B8nevolent Funds balance at the year-
end amounted to £Nil12023: £1.365.5591
The Benevolent Funds. including the Princess Royal Memorial Fund, is the restri¢ted fund representing
the aGtivilles of The Auxlliary Territorial Service and The Women's Royal Amy Cc*ps Benevolent Fund
(Incorporating the Princess Royal's Memorial Fund), which is a subsidiary charity of the WRAC
association. The funds may be applied only in pursuance of the objects of the charity. namely-
To promote the interests and welfare of pgrsons who have served in the Corps in such ways
as are charitable in law- and
The rellef of persons in need who are either:
Persons who have served in the Corps; or
The children or dependents of any person (alive or dead) who has served in the Corps
Th8 Trustees may relieve persolls in need by..
Making grants of money to them., or
ProvKling or paying for goods, seryices or facilities for them.. cff
Making grants of money to other persons or bodies who provide goods. services or facilities to
those in need.
Following careful oonsideration of the charrtable objects of thg WRAC Association and Benevolent
Funds. and after tsking appropriate legal advice, the trustees determined that these funds should be
merged into a single fund lo reflect their shared charitable objectives and lo ensure that the Associatlon
would continue lo be able lo support all its members in need. This merger took place on 30 November
2023, and all fvnds previously held by The Benevolent Funds have been transferred to the General
Unrestricted Fund of the WRAC Association.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 29
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
17.
THE COBSEO Femalg Vgtgrans Cluster Fund
2024
2023
01 October 2023
Incoming r8sources
Donations and legacies
Resources expended
Charitable acliwties
5,541
9,529
{3,2421
13.9881
30 September 2024
The COBSEO Female Veterans Cluster restricted fund relates to funding provided to the WRAC for its
work wth the aforementioned group. and costs relate to funding travel and subsistence and marketing
costs for group members.
18.
Th• Female Veterans Transforniatitsn Programme Fund
2024
2023
01 October 2023
Incoming resources
Donations and Fegacies
Resources expended
Charitable actlvities
35,671
95,131
47,500
(96.8971
(11,8291
30 September 2024
33,905
35.671
The Female Veterans Transformation Programme restricted fund was ereated in FY23 and is fvnded
by a grant from the Amied Forces Covenant Fund Trust and NHS England. Th8 programme is designgd
to make female veterans 'visible' and deliver long-term, systemic change at veteran-facing
organisations such as heamhcare services. care homes and charitBs.
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 30
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
19.
TOTAL FUNDS OF THE ASSOCIATION
10Gt
2023
Incorning
Outgolng
Resources Resource$ Transfers
30 Sep
2024
Unrestrfcted Funds:
Gen&ral funds
1.393.451
828,295
(439.3731 6.444,474 8,226.847
RoStrl¢tod Fund$:
The Benevolent Funds
COBSEO Female Veterans Cluster
Female Veterans Transformation
Programmg
6,155.806
5.541
401.856
{113.188) 16.444.474)
13,242}
2.299
35,671
95.131
196,897)
33,905
7,590,469
1.325,282
652,700
8.263,051
20.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed
Assots
Net Current
Assgts
TOTAL
2024
Y•ar End8d 30 Septgmber 2024
Unrnstricted Funds:
General funds
8,169,185
57,662
8,226.847
Restri¢ted Funds:
COBSEO Female Veterans Cluster
The Female Veterans Transformation Project
2,299
33,905
2,299
33,905
8.169,185
93.866
8.263,051
Cumulative unrealised gains on investments included within the unrestricted general fvnds balanee at the
year4nd amounted lo £799,475 {2023'. £245,220)
Flxed
Asset8
Net Curront
Assets
TOTAL
2023
Year Ended 30 Sèptgmber 2023
Unrestrirtgd Funds:
General funds
1.397,176
{3.725}
1,393,451
Restrlcted Funds:
The Ben&volent Funds
COBSEO Female Veterans Cluster
The Female Veterans Transformation Project
6,108.300
47.506
5,541
35,671
6.155,806
5.541
35,671
7,590,469
7.505.476
THE WOMEN'S ROYAL ARMY CORPS ASSOCIATION
Page 31
NOTES TO THE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 30 SEPTEMBER 2024
21
ULTIMATE CONTROLLING PAR
The charity is controlled by its Trustees.
RELATED PARTY TRANSACTIONS
There were no transactions with related parties during the year, other th8n th8 reimbursement of
expenses lo Trustees as disclosed in note 5.
## LW/SD/WR007
## 3 March 2025
The Trustees
The Women’s Royal Army Corps Association Unit 11 Basepoint Business Centre 1 Winnall Valley Road Winchester Hampshire SO23 0LD
Dear Sirs & Madams
In accordance with our normal practice we are writing to draw your attention to various matters which arose during the course of our audit of the charity’s accounts for the period ended 30 September 2024.
1. We have no comments to make concerning the qualitative aspects of the entity's accounting practices and financial reporting.
2. We did not encounter any significant difficulties during the audit and there are no significant findings from the audit to draw to your attention.
3. A draft of our proposed letter of representation is attached. We draw your attention to paragraphs 9, 19 and 20. In other respects the letter is routine.
4. For your information we attach a schedule of adjustments that you agreed should be processed when finalising the accounts. No material unadjusted misstatements were noted during our review.
5. As you are aware from our letter of engagement, our audit procedures were directed towards testing the accounting systems in operation upon which we have based our assessment of the accounts. We did not identify any weaknesses in your system during the course of our audit.
6. In making our recommendations, we have considered the size of your charity and the number of staff you employ.
7. We do not propose any modifications to our audit opinion and hence will be issuing a clean audit report.
2/
8. We have discussed with you the fact that we provide accounting services to the charity in addition to acting as auditors. We wish to confirm to you that in our opinion the provision of such services does not affect our independence as the additional services provided are of a routine compliance nature and the Board takes any decisions where judgement is required.
The firm and the audit engagement team have therefore complied with relevant ethical requirements concerning independence.
We would like to take this opportunity of expressing our thanks to your staff for their assistance during the course of our audit.
Please note that this report has been prepared for the sole use of The Women’s Royal Amy Corps Association. It must not be disclosed to third parties, quoted or referred to, without our prior written consent. No responsibility is assumed by us to any other person.
The purpose of the audit was to enable us to express an opinion on the financial statements. The audit included consideration of internal control relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control. The matters reported above are limited to those deficiencies that the auditor has identified during the audit and that the auditor has concluded are of sufficient importance to merit being reported to those charged with governance.
If we can be of any further assistance, please contact Lisa Wilson.
Yours faithfully
Rothmans Audit LLP
## SCHEDULE OF AUDIT ADJUSTMENTS
|**Jnl**|**Fund**|**Details**|**SOFA**|**Balance Sheet**|
|---|---|---|---|---|
|**1**|ASC|Amortisation for the year|1,893.78||
||ASC|Amortisation for the year||(1,893.78)|
||Being|amortisation charge for the year|||
|**2**|ASC|Depreciation charge for the year|661.98||
||ASC|Depreciation charge for the year||(661.98)|
||ASC|Depreciation charge for the year|206.02||
||ASC|Depreciation charge for the year||(206.02)|
||Being|depreciation charge for the year|||
|**3**|BEN|860 - Rounding||5.07|
||BEN|960 - Retained Earnings||1,118.72|
||ASC|960 - Retained Earnings||40,088.21|
||ASC|COBSEO||(5,541.00)|
||ASC|FVT||(35,671.00)|
||Being|to agree opening reserves allocations|||
|**4**|ASC|Accrued Income||17,991.26|
||ASC|Leg - Legacies|(17,991.26)||
||Being|to accrue for legacy notified in year but paid post year-end|||
|**5**|ASC|805 - Accruals||(4,560.00)|
||ASC|Auditors Remuneration - Non Audit|1,325.00||
||ASC|Audit - Gov - Audit|3,235.00||
||BEN|Audit - Gov - Audit - match PY accrual to expense|2,280.00||
||ASC|Audit - Gov - Audit - match PY accrual to expense|(2,280.00)||
||ASC|Audit - Gov - Audit - printing costs to general governance|(2,860.80)||
||ASC|Audit - Gov - Audit - printing costs to general governance|2,860.80||
||Being|to accrue for audit fees and agree P&L disclosures|||
|**6**|ASC|BD - Brewin Dolphin||(12,387.43)|
||ASC|Revaluation gain/loss|12,387.43||
||Being|to clear variance on BD postings re prior year account not cleared|down||
|**7**|ASC|DTRPrepay - Debtors - Prepayments||2,938.44|
||ASC|Guildford50 Costs|(2,938.44)||
||Being|to prepay costs of October 2024 event|||
|**8**|ASC|Fixed Assets - Computer Equipment - Additions||2,558.55|
||ASC|Fixed Assets - Computer Equipment - Depreciation||(234.46)|
||ASC|Equip - Office - Equip|(2,558.55)||
||ASC|DEPN - Depreciation expense|234.46||
||Being|to capitalise laptops purchased in the year|||
|**9**|ASC|G NHF top-up|(2,380.00)||
||ASC|Prepayments||2,380.00|
||Being|to prepay NHF grants paid in advance|||
||||(5,924.58)|5,924.58|