2021-12-31-accounts - The White Ensign Association Limited

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ith the Chari	ith the Chari	ty's a		ctivit	ies are cont	ained in the table below:
Risk Descri		tion				Miti ation and Notes
Product.						Prepare and review an annual Strategic Plan to shape and
Not meeting		the needs			of	adapt business output to reflect and anticipate market
customers						requirement. Continually improve, update and augment
						uidance and advice available.
Finance.						Regular monitoring by the Finance and General Purposes
Significant	loss of			income		Committee. Consideration offresh initiatives to increase
						income and control expenditure. Maintenance of long-term
						investment funding at levels to meet a projected future
						runnin costs.
Re ulato	Com		liance.			Company business procedures to reflect legislative and
Damage to	reputation				and risk of	regulatory changes relating to Company Law, Charity
FCA investigation				and	potential	Commission regulations, Bribery Act 2010and FCA
closure.						guidelines. Staff to guard against inadvertent passing of
						financial advice or opinion that does not reflect the considered
						view ofthe Association. GDPR compliance strictly enforced
						and closel monitored.

Business Continuit	.		Business Continuity Plan to be reviewed regularly. Regular	Business Continuity Plan to be reviewed regularly. Regular
Inability to conduct	business.		review ofstaff availability to ensure maintenance of national
			covera e at reasonable levels.
Relevance.			Staff to monitor MOD activity and charity sector networks	for
Resulting in a reduction		in	indications ofstrategic market changes and the entry of
demand for the Association's			newcomers Maintain presence and visibility at all
services.			a ro riate Service Charit and MOD events

				Notes		2021		2020
						f		f
Income						272,267		5,424,879
Gains/(Losses)	on	investments				161,829		56,694
						434,096		5,481,573
Expenditure					(	496,421 )	(	717,412 )
Net (expenditure)/Incomebefore			tax for the reporting	period	(	62,325 )		4,764,161
Tax Payable
Net (expenditure)/		income for	the financial year		(	62,325 )		4,764,161

					Unrestricted	Funds
						Total
				Notes	Total Funds	Funds
Income and endowments			from		2021f	2020f
Donations					176,375	5,279,402
Charitable Activities: I-ees
Other Trading activities.
Subscriptions					22,390	42,270
Investment income					22,351	50,740
Other income					51,151	52,467
Total					272,267	5,424,879
~dtdt
Raising funds					13,730	22,966
Charitable activities					391,868	593,333
Other Costs (including		publicity)			90,823	101,113
Total					496,421	717,412
Net gain on investments					151,829	56,694
Net (expenditure)					(62,325)	4,764,161
Transfers between	funds
Net movement in funds					(62,325)	4,764,161
Reconciliation offunds:
Total funds brought	forward				6,220,796	1,456,635
Total funds carried	forward at 31st
December 2021				10	6,158,471	6,220,796

								2021	2020
								Number	Number
The average monthly		number	ofpersons employed			during	the year was
The emoluments	of	one employee		exceeded f100,000
The emoluments	of	two employees		exceeded f60,000
								2021	2020
Staffcosts (for	the above persons):							8	8
Wages and salaries (including			holiday		pay piovision)			285,137	461,872
Social security	costs							32,422	57,564
Pension costs								17,376	25,448
								334,935	544,884

						Activities
					Cost of	on the
					Raising	Charity's	Other	Total	Total
					Funds E	Objects E	Costs f	2021 f	2020 E
Staff costs	(inc pensions)				13,397	294,743	26,795	334,935	544,884
Communications		(incl IT,Printing,		Postage)		60,646	20,216	80,862	53,424
Rent, rates,	light & heat					9,110	3,036	12,146	14,083
General expenses							788	788	1,541
Travel/Corp	Hosting/Training				332	6,313		6,644	23,423
Events						21,057		21,057	40,953
Audiinrs remuneration							3,990	3,990	3,990
Depreciation							3,066	3,066	2,872
Investment	Fund	Management	Fee				20,418	20,418	9,900
Bank Charges							37	37	63
Insurance							2,342	2,342	4,053
Public relations							10,136	10,136	18,227
					13,730	391,868	90,823	496,421	717,413

Tangible fixed assets	2021	2020
	E	E
	Office	Office
	Equipment	Equipment
	E	E
Costs
As at 1 January 2021	40,048	28,918
Additions	1,132	11,130
Disposals
As at 31st December 2021	41,180	40,048
Depreciation
As at 1 January 2021	31,790	28,918
Disposals
Charge for year	3,066	2,872
As at 31st December 2021	34,856	31,790)
Net book value
31st December 2021	6,324	8,258

Fixed asset	investments
Classification	of investments		at	market value:		2021	2020
						E	E
Fixed interest	- Bonds					359,550	141,719
Equities (mainly common		investment			funds)	1,858,090	907,132
Cash held as	part of investment			portfolio		3,776,753	2,554,132
						5,994,393	3,602,963

	Notes to	the financial statements —3	1st Becemher 2	021
			2021	2020
			f	f
8	Debtors
	Membership Fees			1,500
	Other Debtors:
	Pre-paid travel		914
	Pre-paid Insurance		1,060	1,347
	Event Paid in advance		I9,000
			30,974	2,847
9	Creditors- amounts	falling due within one year
			2021f	2020 f
	VAT creditor			2,136
	Holiday pay entitlement		4,434	7,288
	Other creditors		4,607	15,996
			9,041	25,420

( a) Analys	is offunds balances
		2021	2020
		f	f
Unrestricted	funds	5,378,471	5,440,796
Restricted	funds
Designated	funds	780,000	780,000
		6,158,471	6,220,796

					Restricted	Unrestricted	Designated
					Funds	Funds	Funds	Total
					f	f	f
	As at 1st January 2021					5,440,796	780,000	6,220,796
	Net Movement in general			funds		62,325)		(62,325)
	As at 31st December	2021				5,378,471	780,000	6,158,471
	ANALYSIS OF NET		ASSETS BETWEEN FUNDS
	Fund Balances at 31st December				Unrestricted	Designated
	2021 are represented		by		Funds	Funds
							2021 f	2020f
	Tangible fixed assets				6,324		6,324	8,258
	Investments				5,214,393	780,000	5,994,393	3,602,983
	Current assets				166,795		166,795	2,634,975
	Current liabilities				(9,041)		(0,041)	(25,420)
	Total Net Assets				5,378,471	780,000	6,158,471	6,220,796
12	Net movement in funds						2021	2020
							f	f
	This is stated after charging:
	Audit fees (including	VAT)					3,990	3,990
	Depreciation of fixed	assets

Statement ofcash flows							Total funds	Totaal fund
							2021	2020
Cash flows from operating activities:
Net costi pro viileil by (user/ in) operatiiig		activities					(287,944)	4,674,555
Cash flows from investing activities:
Dividends, interest and rents from investments							22,351	50,740
Pioceeds fiom tlie sale ol'propeity, plant		and		equipiniuii
Purchase ofproperty, plant and equipment							(1,132)	(11,130)
Movement in investments							(2,229,581)	(2,191,101)
Net casli proviiled by (used in) investing		nctivities					(2,496,307)	2,523,064
Cash flows from financing activities:
Repayments ofborrowing
Cash inflow from new borrowing
Receipt ofendowment
Net casli provi i/ed by (us'ed i»)finanicing			activities activities				(2,496,307)	2,523,064
Chnnge in cash nnd cash equivatentsin		the		reporting	perioil		(2,496,307)	2,523,064
Cash and cash equivalents at the beginning				ofthe reporting		period	2,632,128	109,064
Change in cash and cash equivalents	due		to exchange rate movenients
Cash and cash equivalents at the eud	ofthe reporting				period		135.821	2.632.128
Reconciliation ofnet income/ ex enditure				to net cash flow from o eratin			activities
Net incomel(erpetullture) for /lie reporting				period (asper
the statement offinancial	activities)						(62,325)	4,764,161
Adjustnients for:
Depreciation charges							3,066	2,872
(Gains)/Losses on investments							(161,829)	(56,694)
Dividends, interest and rent from investments							(22,351)	(50,740)
Loss/(profit) on the sale offixed assets
(Increase)/decrease in stocks
(increase)/decrease in debtors							(28,127)	26,844
Increase/(decrease) in creditors							(16,379)	(11,888)
Net casli provided by (usedin) operating		activities					(287,944)	4,674,555
							Total fumls	Totaa I fumt
Anal sis ofcash and cash e uivalents							2021	2020
Cash in hand							135,821	2,632,128
Notice deposits (less than 3 months)
Overdrafl facility repayable on demand
Total cash and cash equivalents							135,821	2,632,128