THE UNION JACK CLUB
A Charltsble Company Limlted by Guarantee
governed by a Memorandum and Articles of Association
Registered Charity Number: 208731
Reglstered Company Number: 00080683
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024

The Union Jack Club
A Charltable Company Limited by Guarantee
governed by a Memorandum and Artlcles of Association
Sandell Street. Waterloo, London SEI 8UJ
Patron In Chlel..
His Majesty the King
Governin8 Councll
Vice Admiral Sir David Steel KBE DL
Piesldent:
Vlce President-
8r5gad*erJ R H Stopford CBE
Honorary Treasurer:
Honorary Treasurer:
Mr B Wylie BFP FCA lappointed 10th December 20241
MT D A CDoper MBA, FCA Iresigned 30th September 20241
Trustees
MrDEPAlbert
Mr P E Dèvidstsn FRI
MrCCTlte
Retr Admiral S Dainion CBE
Mrs R GaT5ide
r Commodore J Llnter OBE
Alr Commodore C Coton CBE lappointEd 10th June 20241
Mr R Srnith (appointed ioth December 20241
Chlef Executlve Ofllcer..
Mr kl H Player
Setretarw.
Mrs Z Nleld
Solkltors:
Ashurst LLP
London Frulr and Wool Exchange
l Duval Sqtfare
london
El 6PW
Audltors:
Moore Kin8Ston Smith ILP
6th Aoor
9 Aptx)1d Street
London
EC2A 9AP
Bankers:
Barc13ys Bank PLC
UK 8anking
I Churchill Place
London
E14 5HP
Reglstered Ofllce,.
53ndell Street
Walerloo
London
SEI 8UJ
Inve5trnElIt Company..
Evelyn Partner5
45 Gresham Street
London
EC2V 78G
Company Reg15tration Number: 00080683
ReElstsred Charity Number: Z08731
Page: I

The Union Jack Club
A charitable Company Limited by Guarantee
governed by a fvlemorandum and Article5 of Association
Sandell Street, Waterloo. London SEI 8UJ
GENERAL COIVIMITTEE
(As al 31 December 20241
Warrant Officer I W Biggar
Wèrrant Off¢cer I S Eardley
Warrant Offlcer l KTomlinson
MAcr M Dalziel
Warrant Officer l R Buglass
Warrant Officer I S Martin
Warrant Officer l R Bould
Warrant Officer S Catterall
Warrant Officer I P Carney
Warrant Officer l N S1mpson
Warrant Olficer l J Lightfoot
Warrant Officer I V Stokes OBE MVO DL
Mr P Houldsworth
MrJRay
Mr V SiEvester
Mrj Shepherd
W3rrant Officer I l O'Neil
Warrant Officer l M Hooper
W8rrant Officer l D Hunter
Warrant Officer l G Head
Warrant Officer l M Cowe
Warrant Officer l G Fellows
Warrant Office¥ B Moore
MAcr I Stone
Warrant Officer D Iliffe
Warrant Officer G Evan5
Warrant Ollieer I S Clark
Warrant Officer E Kerslake
Warrant Ofllcer l M Li8htowlers
Warrant Officer S Thorpe
Warrant Officer l M West
Warrant Officer l M Farr
Warrant Officer P Wilson
Warrant Officer T Stead
Page.. 2

THE UNION JACK CLUB
COUNCIL'S REPORT and STRATEGIC REVIEW
FOR THE YEAR ENDED 31 DECEMBER 2024
The Council, as the Governlng Body ol the Unlon Jack Club and Trustees of the Charity, present their report and
accounts for the year ended 31st December 2024 in accordance with applicable accounting standards, the Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Stsndard applicable in the UK and Republic of Ireland (The FRS 102 Charlties SORPI. the Compènie5 Act 2006 and the
Charities Act 2011.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Unlon Jack Club
The Union Jack Club consists of 13 Life Mernber5, all of whom stand surety for the guarantee as required in the
Memorandum of Assoclatlon. The Articles of Association empower the Governing Council to elect new Members.
New Members are elected by recommendation based on thelr expertise and quallflcations. Members are kept up to
date on Trustee Issues by the dlstrlbution OF pamphlets and briefs.
Members of the Councll
The members of Councll during the year a￿ shown on page l.
At the Annual General Meeting of the Union Jack Club held on 4th June 2024, Mr Peter DavTdson and Mr5 Rachel
Garside, being Directors of the Cornpany retiring by rotation, were re-elected as Directors of the Company for è term
Df three years as defined in the Articles. notwithstanding the prDvisiDn of artitle 32. Brlgadier james Stopford, was re-
elected a Director of the Company for t term of three years as defined in the Articles.
The daily operntion of the Union lack Club is delegated to the Chlel Executive asslsted by the Management Team.
Members of the Council meet four times a year. They review the accounts for the previous year and deliberate Dn the
budget proposals put forward by the Chief Executive for the following year. Members ol the Council monltor the
progress of the Budget throughout the year and assess the risks faced by the Union Jack Club, see below.
General Commlttee
Members of the General Committee are shown on pa8e 2.
The General Committee's main duties under the overall control of the Council are to represent the mèmbership and
ensure that Members. views and opinion5 are conveyed to the Council and Offlclals of the Club. It adw1ses the Countil
on entrance fee5, annual subscriptions and accommodatlon charges, and decldes on the eledion of ex-5ervice
members.
Investment Powers and Pollcy
During the year, the investments of The LlnlDn Jark Club were rnanaged by Evelyn Partneis, under a DÈ5cretionary
Investment Management Agreement. The objectives of the portfolios are to seek to maxlmSse the toial reiurn on the
portfolio while investing prudently and without exerclsinE undue risk. The retur4) objective of the main investment
portlollo is to outpeiloTrn CPI plu5 3% pa.
Additionally. the Union Jack club invest5 in a Property Fund IPITCHI, managed by Swiss knfe Asset Management.
Remuneratloh Polity of Senior Management Personnel
In relation to deciding remuneration for the Charity'$ senior executives, the Charity considErs the potential impact of
remuneration levels and takes account of the followlnE addltlonal prin¢lples'.
To ensure th3t the Charity can access the types of skills, experiences and competonties that it noeds In Its senlor stall,
the Charity considers the specific scope of these roles and the link to pay.
The nature of the wlder employment offer made to senior employees, Whe￿ pay Is o*e part of a package that
includes personal developrnent, personal fulfilment and association with the public benefit dellwered.
Remuneration for the year ended 31 December 2024 comprlsed salary, pensitsn contributions, bonus aw8rd ajd
healthcare benefit. There ère no other pecuniary beneflts for senlor or other st311 at the Charity.
Page.. 3

THE UNION JACK CLUB
COUNCIL'S REPORT and STRATEGIC REVIEW (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
OBIECTSAND ACTIVITIES
The objects ol the Union lack Club are to promote the welfare of 5ervin8 and veteran onlisted members of the
Regular, Reserve, anil Auxiliary forces of the Crown, thelr spouses and partners, and their families, as defined by the
Council of the Union Jack Club. in establlshing. maintaining, and conducting a rosidential Club for their use and
accommodation.
The principal activity of the Union Jack Club continues to be the provision of all the normal facilities ol a re5identi31
Club in London for enlisted member5 and ex-membÈrs of the His Majesty's Armed Forces. their spouses / partners
atid families.
srRATEGIC REPORT
R15k Management
The TrusteE5 have a risk managempnt strate8y which comprises..
An annual review of principal risks and uncertaintie5 that the Union lack Club and its trading subsidiary face.
The establishment of policie5. Systems and procedures to mitigate those risks identified in an Annu31 review.
The provision of an adequate portfo110 01 insur3nce covers.
The implementation of procedure5 deslgned to mlnimise or manage any potential impact on the Union Jack
Club and its trading subsidiary* should those risks materialise.
The availability of sufficient financial resources has been identilled as a main risk. The management of this 15 through
regular rÈview of 3v3ilable funds. active management of trade debtors, creditors and working capital to ensure there
is adequate and appropriate malntenance ol the buildin£ to allow the charity to meet it5 beneficiarie5' need$ and
other objectives.
The non-financial risks arising from fire, health and safety, food hyglene, GDPR and safety of members, guests and
stafl are managed by robust policies, procedures and regular training of staff.
Governance and Internal Control
Risk assessment Is the responsibiltty of Council.
The Council aims to ensure that..
the Charity Is operadng effectively 8nd efficiently,.
its assets are safeguarded against unauthorised use Or disposition,.
proper records are maintained and financia5 information used withill the Charity, or for publication, is reliable-
and
the Charlty complies with relevant laws and regulations.
The systems of Internal control are designed to provide reasontble, but not absolute, assurance against material mis-
statement or loss. They snclude..
a strategic plan and an annual budget approved by the Council,.
regular consideration by thETrustÈes of financi31 results, variance from budgets. non~financial performance
indlcators and benchmarking reviews,.
delegation of authority and $eg￿gatIoft of dutles,. and
identification and management of risks.
ThE Councll has introduced a formal risk management pr￿e$S to assess busine55 risks and implement risk
management strategi￿. A5 Part of this process the Council has reviewed the adequacy of the Charity's turrent
Internal controls.
The Unlon Jack Club (Tradlngl Limlted
The Union Jack Club (Trading) Limlted, a wholly owned subsldiary ol the Union Jack Club, purchases, under strict
controls. any accommodatlon that is not required for the benelSelarles of the Charity. The account5 Of the company
are consolidated wlth those ol the Charity.
Pag&'. 4

THE UNION JACK CLUB
COUNCIL'S REPORT and STRATEGIC REVIEW (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
PUBLIC BENEFIT
The Trustees conflrm that they have complied with the duty in section 17111 of the Charitie5 Act 2011 to have due regard to
the Charity Commission's goneral guidance on public benefit, 'Charities and Publlc Benefit..
The Union Jad< Uub's charitable purpose 15 enshrSned in its objects as destribed.
ACHIEVEMENTS AND PERFORMANCE
At the end of the year 2024, the Union Jack aub Group had 3 Net Operating Ineome of £1,350,883 12023 Net Operating
Income £2.167,3451. There was a gain on Investments ot £1,121,57512023 gain £487.8381 which increased Net Income to a
5urplu5 of £2,472,45712023 surplus £2,655,184).
Improvements ta the Club in 2024 included creatlon of an accessible sulte on the 3rd floor and 2 new deluxe rooms on the
23rd floor. Every bedroom now has a smart TV and a free standing fan. During 2023. all radiator valves were replaced to
enable individual control and in 2024 works were continued to replace and lag all pipework,
The Union Jack Club also received legacies for £24,09212023 £1,327,505) and voluntary donations 01 £16,33912023 £25,267)
generously given by Members and guests during the year, which are used for the development and maintenance of the Club.
All capital prajects complÈted during the year represent the Club's fixed a55ets additions which are depreciated ovèr S . 10,
20 or 25 years.
FINANCIAL REVIEW
The financial statements consist of the consolidated result5 of The Union Jack Club and The Union lack Club ITr&din61 lirnited,
and the consolidated 2nd Charity balance sheets. Principal sour￿5 of income were.. membership income of £986.09612023
£694,790),. residential services to members of £9,018,232 12023 £8,301,516) and income generate(J from non-members of
£1,986,861 12023 £1.802,6471. Operating expenditure con515ted malnly of the provision of membership and residential
service5 of £9.757.70412023 £9,153,356) and the cost of servicinB non-members of £1,076,48412023 £1,007,086). At the end
of the year the Group had net income of £2,472.45712023 £2,655,184).
land and building5 have been included In the accounts at net book value of £1.5 million12023 £1.7 million). The Council
considers that the market value of the freehold land and building5 15 considerably In excess of the book values.
RESERVES POLICY
The Union Jack Club is a Charity and a150 a cornpally limited by guarantee and does not rdy upon public subscrlption in order
to achieve it5 charltable objertives.
The Club'5 reserves are represented by the buSldlngs and contents. without whlch It could not function. one invesltnent
portfolio which is managed by profes510nal Investors under the direction of the Trustees, and a trading company of whlch the
charitv 15 the sole shareholder.
The Club achieve5 its objectlves of providing. maintaining and continuously irnproving reasonably prfced accomrr¢xlation and
all the amenities of a London Club lor current and former enlisted members ol the Arrned Forces and theirfarnilies by relylng
where necessary upon the income generated from investments to fund pensions and to make good any loss incurred In atJy
year.
The Counell has reviewed the Club'5 needs for resetves in line wlth the guldance Issued by the Charity Commlssion. The
review concluded that. in order to allDW the Charity to be managed efflclently, and ensure the aub can continue to maintaln
and Improve the accommodation and amenities, and cope through periods of changes in tradin& and in the event of sudden
rnajor disruptions or dlsasters, a general unrestficted spendable or free reserve las delined by the Charlty Commission)
should alm to be no less than 6 months operatlng costs, whl¢h In a nomial trading year would be expected to equate £ 5.2
million 3pproximatelv.
At the 31st December 2024, the Club's total reserve5 am¢)unted to £17,120,33912023.. £14.612,4811 of whlth £4,528,632 was
tied up In the Club's building and fixed 3ssets. and as such was not freely expendable. In addition £2,816,703 is deslgnated as
the Infrastructure Fund and £2,819,033 as an Unreallsed Revaluation Reserve Fund, leaving £6,955,972 free as unrestricted
funds. The reserves policy is revlewed on an annual ba51s.
Note 16 Includes the utilisation of the designated funds.
Page.. 5

THE UNION JACK CLUB
COUNCIL'S REPORT and STRATEGIC REVIEW (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
INVESTMENT PERFORMANCE
The Charity's funds are invested with Evelyn Partners, and Swiss Llfe Asset Mbnagement (Property Investmer*t Trust for Charltles-
PITCHI. At the end of 2024, the combined portfolio value was £12,089.680. Th15 represents a net unro311sed galn forthe year Of
£1,177.L7912023.. £495,891). a return o112.2%12023.. 8.0%).
FUTURE PiAN5
The Unlon Jack Club plart foi 2025 Is to continue the rolllAg programrne ol refreshing and upgradlng bedroom accommodation. This
involves rnoving accessible r00rn5 lower down the building and a complete refurbishment of the 17th floor. A review of facilltles
offered on the reception 8roulld floor is planned for 2025. worksio commence in 2026. Planniog covers Restaurant, Main Mar, Reserve
Bar Lounge. Wrlting Room and Baggage Rootn. An extsnslve upgrade to Llft$ 5, 6 and 7 Includlng new car interlors with digital display
screen5.
STATEMENT OF COUNaL'S RESPONSIBILITIES
Tho Trustees (who are also dlrectors of The UniDn Jack Club forthe purposes of company lawl ale res￿nSIble lor preparing the
TNStees' R@port and the Financlal Statements In accordance with applicable law and Unlted Kingdom A£countinE Standards Iunlted
Kingdom Generally Accepted Accountlng Practlcel.
Company law requlresTrustee5 to prepare Flnan£ial Staternent5 for each flnanci31 year which give a true and fèlrvlew of the state of
the attair5 of the Charity and the Group. and of Its Income and expenditure for that perlod. In preparlngthese finènclal statements, the
Trustees are yoquired to..
select suitsble accountlng policles and then applythem conslstsntly,.
observe the methods and pr*nciplps In the Ch3ritie5 SORP.,
rnake judgments znd estimate5 that are reasonable and prudent,.
stste whether appllcable accountlng standards. Includlng FRS 102, have been followed, subloct to any materlal departu￿$
dlsclosed and explained In the Financial StatementS,'
statÈ whether a Staiem@nt of Recommended Practlce ISORPI applies and has hÈ@n followed, subjectl(Fany matsyial departure5
which arÈ explilned in the f Inanclal Statements., and
prepare the Flnancial Statements on the golnE concein basls unless it Is Inappropriate to presume that the Charity will ¢antlnue
In busines5.
The Trustees are responslble fore#surlng proper accounting reco¥d5, Ihat dlsc105e the financlal posltion of the Charity with ￿aSOnable
accuracy at any time, enable them to ensure that the Financial Sl4tements tomplywith the Companies Act 2006. They are a150
responslble for 5aleguarding the asset5 of the Chailty. Company and the Group End hence for taking reasonable steps for the
prevention and d&tection ol fraud 2nd other Irregularities.
So lar as the Trustees are aware..
there is no relpvant audlt information of whlch the charitable company's auditor Is unaware., and
the Trustee5 h4ve taken all step5 that theyought to have taken lo make themsefv@s aware of any relevant audif Information and
to establlsh thatthe audltor Is aware of that inforrnatlOA.
The Trustees are responsible lorthe maintenance and integrity ol the Charity and financial iAlorm3tlon Included on the Charlty's
webslte. Leg*slation In the United Kin8dDtn govÈrnlng the preparation and dlssemination of financial statements may difFerfrom
The fru5tees' Annual Report is approved by the Trustees of the Charlty. The Strategic Report, wh￿h forms part of the Annual
Report, 15 approved by the Trustees In their capaclty as directors In the company law of the Charity
This reportwas approved by the Govemlne Council on 14 March 2025.
Z Nleld MIH
Company Secretary
Page.. S

INDEPENDENT AUDITOR'S REPORTTOTHE MEMBERS AND TRUSTEES OF
THE UNION JACK CLUB
Opinion
We hawe audited the flnancial statement5 of The Union Jack Club Iihe 'company'l for the year ended 31 December 2024
which comprlse the Group Statement of Financlal Activities, the Group and Parent Charitable Company B31arice Sheets,
the Group Cash Flow Statement and notes tts the Financial Statements, including significant accountin6 poll¢ies. The
financlal reporting frarnework that ha5 been applied in their preparatlon is applicable law and United Kingdom
Acctsuntin8 Standards, including FRS 102 The Financial Reporting Stsndard Applicable in the UK and Republlc of Ireland,
Iunited Kingdom Generally Accepted Accounting Practice).
l# our opinion the flnancial statements..
give a true and fair view of the state of the group's and the parent chgrttable comp3ny's affairs as at 31st December
2024 and of the Broup's Incomin8 resources and application of resources, includin8 5ts Income and expenditure. for
the yearthen ended,.
have been properly prepared in accordance wlth United Kingdom Generally Accepted Accounting Practice,. and
have been prepared lfi accordance with the requirements ol the Companies Act 2DJ6 and ihe Charitles Act 2011.
Basls for oplnlon
We conducted our audit in accordance wlth International Stsndards on Auditing IUKI IISASIUKII and applicable law. Our
responslb%lities under those standard5 tre further described in the Auditor's Responslblllties for the audit of Financial
Statements section of our report. We are independent ol the charitable company in accordance with the ethical
requlrements that are relevant to our audlt of the Financial Statements in the UK, including the FRC'S Ethical Standard,
and we h2ve fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audlt
evidence we have obtalned is sufficient and appropriate to provide a basis for our opinion.
Conclusions relatlngto going toneern
In auditlng the Financial Statements, we have concluded that the Trustees, use of the Eolng concern basis of atctsuntlmg
in the preparation of the Financial Statements is apprDpriate.
B35ed on the work we have performed, we have not identified any rnaterièl uncertaintie5 relating to events or condltlons
that, indivldually or collectively, may cast significant doubt on the charitable company's ability to continue as a going
concern for a period ol al least twelve month5 Irom when the Flnancial Statements are authorised for Issue.
Our re5pons¢bil%tles and the responsibilities of the trustees with respect to going concern are described In the relevant
sections of this report.
Other Infomiatlon
The other information comprise5 the informatlon induded in the annu81 report, other than the financial statements and
our audltor's report thereon. The trustees ?ro rÈsponsible forthe other inlomation. Our opinion ON the Financial
Statements does not cover the other Information and, except to the extent otherwise explicitly stated in our report, we
do not express any form of assurance cDncluslOn thereon.
In connection wlth our audit of the Financlal Statements. our responsibllity is to read the other information and, In doing
so, consider whether the other information Is materially inconsistent with the Financlal Statoments or our knowledge
obtained In the audit or otherwlse appear5 to be materially misstaied. If we Identify s(tch material incon51Stencies OT
apparent material misstatements, we are required to determlne whether there is a materlal mis5taternent in the FSnancial
Statements or a material misstatement of the other inforrnatlon. If, based on the work we have performed, we conclud&
that there is a material misstatement of this other inlorm2tion, we are required to ￿pOrt that fact.
We have nothing to report in this ￿gard.
Pège.. 7

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF
THE UNION JACK CLUB (continued)
Opinlons on other matters prescrlbed byThe Companle5Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given ill Ihe. strategic report and Trustees, annual report for the financia1 year forwhich the
Firtrancièl Statements are prepared is consistent with the FinaFtcl31 Staternents- and
the strategic report and Trustees, annual report has be&n prepared in accordance wlth appltc&ble legal
requirement5.
Matters on whlch we are requlred to feport by exceptlon
In the light of the knowledge and under5tallding of the group and parent charitable company 3nd its environment
obtained in the course ol the audit, we have not identified materfal misststements In the strategic report or in the
Trustees, annual report.
We have nothing to report In respect of the following matters where the Companies Act 2006 and the Charities Act
2011 requ5re us to report to you if. in our oplnion..
the parent charitable company has not kept adequate and stsfficient a¢eounting record5, or returns adequate
for our audit have not been received from branches not visited by u5,. or
the parent charttsble company's Fin2ncial Statements are not ITr agreÈment with the accountir)g records and
return5,' or
certain disclosures of Trustee5' remuneration specified by law are not made., or
we have not received all the information and explanation5 we require for our audit.
Responsibllltle5 of Trustets
As explained more lully in the Trustees, re5ponslbillties statement set out on page 6, the Trustee5 (who are also the
directors of the charitable company for the pu¥poses ol company lawl are responsible lor the preparation of the
Financial Statements and for being satislled that they give a true and 18ir view, and for such internal control as the
Trustee5 determine is necessary to enable the preparation of Financial Statements that are free from material
mlsstatemenL whether due to fraud or error,
In preparing the Financial Statements, the Trustee5 are responsible for assessing the group and parent charltable
company's ability to continue as a going concern, disclosing, 85 applicable, matter5 related to going concern and using
the going concern basis of accounting, unless the Trustees either intend to liquidate the group or parent charitable
company or to cease operatlons, or have no realistic alternative but to do so.
Audltoes responslbllitles for the Audlt of thè Flnanclal Statements
Our objectives 3Te to obtain reasonable assurance about whether the Financial Staternenls as a whole 3re free from
material misstatement, whether due to fraud or error, and to issuo an auditorfs report that includes our opinion.
Reasonable assurance is a high level of 2Ssurance, but Ss not a guarantee that an audit conducted in accordance with
ISAS IUKI will always detert a materlal misstatement when it exists. Mi55tatement5 can arise from fraud or error and are
considered material if, individually or in aggregète, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these Financial Statements.
As part of an audlt in accordan￿ with1SAs IUKI we exercise professlonal judgement and maintain professlonal
s¢Épticism throughout the audlt. We also..
Identify and asses5 the rlsks of material mSsstatement of the flnancial statements, whether due to fraud or
erior, deslgn and perform audit procedures responsive to those risks, and obtain audit Evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of nCFt detectlng a material misstatement
resulting from fraud Is highef than one resulting frtrm error, as fraud may involve tollusion, forgery. intentional
omission5, nii5repres@ntations, or the override of Internal control.
Obtain an understanding ol internal control relevant to the audit in order to design audit procedures thèt are
appropriate in the circum5tan¢es, but not for the purpose5 of expressing an opin1on on the ellectiveness of the
Rroup and parent charitable'company's internal control.
Page.. 8

INDEPENDENT AUDITOR'S REPORTTOTHE MEMBERS ANDTRUSTEES OF
THE UNION JACK CLUB {continued)
Evaluate the appropriateness of the accounting policies usod and the reasonableness of accounting
estimates and related disclosures made by the Trustee5.
Conclude orn the approprialeness of the Tru5tees' use of the golng concern basis ol actounting and. based
on the audit evldence obtained, whether a material uncertainty exists related to events or condltlons that
may cast significant doubt on the group and parent charitable company's ability to contlnue as a going
concern. If we conclude that a material uncertainty exists, we are required to dr8w attp.ntlon In our
auditor's report to the related disc105ures in the financial stateme#ts or, if such disclosures are
inadequate, to modify our opinion. Our conclusiorss are based on the audil eviden￿ obtained up to the
date of our auditor's report. However, fttture events or conditions may ctuse the group or parent
charitable company to Cease to continue as a Boing concern.
Evaluate the overall presentation. strurture ènd content of the linamcial staternents, including the
disclosures, and whether the flnancial statements represent the underlying trèn58Ctions and events in a
manner that achieves fair presentation.
Obtaln Sufficient approprlate audlt evidence regarding the financial information of the entities or business
activitle5 Wlthin the group io express an opinion on the consolidated flnanclal statement5. We are
re5POnsible for the direction, supervision and performance of the group audit. We rernain 501ely
responsible for our audit.
We communlcate with those charged with governan￿ regardln& ètnong other matters, the planned scope and timing
of the aÈtdit and slgnlficant audit findings. Including any significant deficienci￿ in internal control that we identify
durin8 our audit.
Explanatlon as to what extènt thÈ audlt was consldered capable of detettlng Irregularilles, Includlng fraud
Irregularitles, includlng fraud, are instances of non-compliance with laws and regulations. We design procedures in Ilne
with our responsibilities, outlined above, to detect material misstatements In iespect of irr&gu13ritles, including fraud.
The extent to which our procedures are capable of detecting irregularltles, Includlng fraud is detsiled below.
The objectives of our audit in respect of fraud a￿.. to Identify and assess tho risks of materlal misstatement of the
Financial Statements due to fraud,, to obtain sufflclent appropriate audit evidence regarding the assessed risks of
material misstatement due to fraud, thrO￿8h doslgning and irnplemeTrting appropriate responses to those assessed
risk5,' and to respond appropriately to instancos of fraud or suspected fraud identified during the audlt. However, the
primary responsibillty for the prevention and detectlon of fraud rests with both management and those charged with
governance of the charitable company.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements applicable to the charltable
company and conSide￿d that the most significant are the Companies Act 2￿6. the tharities Act 2011, the
Charity SORP, and LIK flnèncial reporknng standards as issued by the Flnancial Reporting Council.
We obtained an uTrderslandin8 of how the charitable company ctrmplie5 Wlth these requirements bv
discusslons wlth management and those charged with governance.
We assessed the rlsk of materlal misstatemeftt of the Financial Statements, including the risk of material
mi5Statement due to fraud and how it might occur. by holding discussions with mana6emEnt and those
charged with Bovernance.
We Snqulred of rnanagernent and those charged wlth goverthance as to any known Instsnces of non-
compliance or 5uspetted non-compliance with law5 and ￿gUlations.
Based on this understandln& we designed specific approprlate audit procedures to identify instances of
non-complian￿ with laws and regulations. This included making enquiries of management and those
charged with governance and obtalning additional corroborative evldence as required.
Page.. 9

INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS AND TRUSTEES OF
THE UNION JACKCLUB
There are Inherent limitatio￿S in the audit proc&dures descrfbed above. We are less likely to become aware of
instances of non-compliance with13w5 and regulations that are not closely felated to events 3nd transactlons
reflectod in the financial stètemETrt5. A150. the risk of not detecting a materlal m15Statement due to fraud is higher
than the risk of not delecting one resulting from error, ès fraud may involve dellberate concealment by, for oxarnple,
forgery or intentional misrepresentations, or through collu510n.
Use of our YÈport
This report 15 made 501ely to the ¢harit3ble iompanvs members. as a body, in actordance with Chapter 3 01 Part 16 of
the Companie5 Act 2006. Our audit work has been undertaken so that we might state to the charltable company's
members those mattels which we are required to state to them in an zuditorfs report and for no other purpose. To
the fullest extent permitted by law. we do not 8ccept or 3ssume responsibility to any party other than the charitable
ccHnpany, the charltèble company's memb&rs, as a body, and the charily's trustees. as a body, for our audlt wcrk, for
this repor( orforthe oplnlon we hève fortned.
Adam Fullerton (Senlor Statutory Auditorl
for aFTrd on behalf of Moore Kingston Smith LLP, Statutory Auditor
6th Floor
g Appold Street
London
EC2A 2AP
Date..
lo f,- Qo2r
Page.. 10

THE UNION JACK CLUB
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
( Incorporating Income and Expenditure Account )
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
Note
Unrestritted
Fund
Infra5trurtu¥e l Legacy
Fvnd
Tot81
2024
INCOME + ENDOWMENTS
Donations and legacies
Trading 8Ctivifjes
Other Income
Other Income-1Tr5yranTr Clalm
Investment Income
152.879
1.986,861
38.105
152,879
1,986,861
38,105
292,511
2,470.356
292,511
2.470,356
CharttableA£tlvltles
Subscriptions
Provision of resldentl81 services
986.096
9,018.232
986.096
9.Ok8,232
Total Oper4tinB Income
12,474.684
12,474,684
EXPENDITLIRE
Ralsln8 Funds
1.076.484
65.954
56,201
160,458
7,OUO
1,366.097
L076,484
65,954
56.201
160.458
7,OOD
1.366,097
Fundr£lsingand publlcity
Investmenr managementfees
Finance costs
Flnance cost of penslon Ilab11Ity
Total cos¢ of rai5ingfund5
Charltable Actlvltles
PIovi5ion of membershlp and resldentlal service5
9.757,704
9.757,704
Totsl Operatlng Expenditure
11.123,800
11.123,800
Net Operatlng IncomellExpenthturel
1,350.882
1,35D,882
Net Galn on investment asseis
io
1,121.575
1,121,575
Net Income
2,472.457
2.472,457
Tran5fÈr between Fund5
Atiuarlal Gain on pension scheme
Gross iransFei between funds
15
16
35.400
35.400
Net Movemeni In Funds
2,507,857
2,507,857
Fund balance5 brouEht forward
l January 2024
11,795.778
2,816,703
14.612.481
F￿rtd balèncès car¥led forward at
31 DÉcember 2024
17 al
14,303,635
2,816,703
17.120.339
The statementof flnancial actwitie5. whlch Incorporates the Income and expenditure account, Includes all gains and losses
recognlsed in the year. All incomlnÈ rèsourtP5 resources eKpended are derlved from tontinuiTrg activitles.
Comparatlve flwre5 can be found on page 12
Page.. 11

THE UNION JACK CLUB
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
( Incorporating Income and Expenditure Account )
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
Note Unvestrlrted Infrastructurel Legacy
Fund
Fund
Total
Z023
INCOME + ENDOWMENTS
Donaiions and legacles
1,433,039
1,802,647
93.963
12,643
233,249
3.575,541
1,433.039
1,802,647
93,963
12,643
233,249
3,575,541
other Income
OtherintomÈ- I￿SU￿anCe Clai￿￿
In￿Stment Income
Ckrltabk Artlvliles
Substripifons
Provlslon Gf resldentlal serv￿e$
694,790
8.301,516
694,790
8HOL516
Total Operallnz Inrome
12,57L848
12,57L848
EXPENDiniRE
Ralslng Funds
I,W7,086
52.IB7
4L116
142.6S8
8.100
1.251,147
1.007,086
52,187
4t.116
142,658
8.1
1.25LL47
Invesimeni managemeni fees
15
Total ￿$t01 r•lslnKfurtds
CharltsbleActivitlES
Provislon of membership and reSId￿lIa1 setylces
9,153,356
9,IS3,356
Total Operatlng Expendlture
10,404,S03
10.4011,503
Nel Operatlng Incomel IENpendltuYel
2,167,345
2.167,34S
Nelgaln on Irbvestmenla5sets
io
487.838
487,838
Net Incon
2.655,184
2,655,184
Tr8tysler bÈtweety Fund5
Aciuarlal losson penslon S(￿Me
Gro55 transferbetween funds
113,E(JOI
11,3ZO,3951
111,6001
16
1.320,395
Wet ma￿￿￿nt In funds
1321,189
1.320,395
2,641,583
Fund balances broughtfv)rward
JJarnuary 202
10.474,589
1,496,308
11,970,898
F￿nd balanttscaiilad forward ot
31 De¢eMber 2023
17bl
1¥795,778
2,816.704
14,612.481
The statementof fin3nci31 actlvitles, whlth Incorptsrate5 the income and expendltute account, includes 311 galns and lossÈs
re¢ognlsed In Ihe year. All incoming re50urcesand resources expended are deriwed from contlnulng activitie5.
Comparatlve figure5 can be fournd orn pa8e 11
Pa8e.' 12

THE UNION JACK CLUB
BALANCE SHEET
AS AT 31 DECEMBER 2024
Charlty
Group
Notes
2024
2023
2024
2023
Flxed Assets
Tangible a55ets
Investments
4,606,632
12,089,682
4,436,949
9.717.3(X)
4,606.632
12,D89,680
4,436,949
9,717.298
io
16,696.314
14,154,250
16,696,312
14,154,248
CurrentAssets
Stocks
Debtors
Cash at bank and in hand
li
12
96.875
1,492,805
1,886,866
92,693
1.442,611
1,816,274
122.114
1.529,507
2,171,136
111,160
1,513,227
2,283.754
3,476,547
3,351.578
3,822,757
3.908,141
Creditors.. Amounts falling due
wlthln one year
13
13,818,119)
13,497.3151
13,253,949)
13,258,315)
Net Current Asset$
1341,5711
1145,7371
568,808
649.826
Total Assets less Cuirent Liabilitles
16.354,742
14,008,513
17,265,120
14,804,074
CreditOf5.' Amounts falling due
after mts￿ than one year..
Discretionary pension prov5slon
14
15
123,0801
1121,700
122,5921
1169,000
123,0801
1121,700
122,5921
1169,000
Net Assets
16,209,962
13,816,921
17,120,339
14,612,481
Accumulated Funds
Unrestricted Funds..
Designated Revaluation Rese¥ve
Designated Fixed Asset Reserve
Designated Infrastructure Fund
Incorne and Expenditure Reserve
16
16
16
16
2,819,033
4,528,632
2,816.703
6,045,593
1.622,680
4,280,949
2,816,703
5,096,589
2,819,033
4.528,632
2,816,703
6,955,971
1,622.680
4,280,949
2.816,703
5,892.149
17al
16,209,962
13,816,921
17,120,339
14.612,481
As permitted by S408 of the Compani* Act 2006. the Company ha5 not presented its own statement of linanclal activities
and related notes. The Charity surplus for the year was £2.393.04112023 surplus £2,512,047)
The linanci81 statements We￿ approved and authorised for issue by the Governing Council of
The Unlon lack Club or) 14 March 2025 and were slgned below on its behalf bv..
PresldÈnt
Vlce Admlral Sir David Steel KBE DL
Treasurer
Mr Ben Wylie BFP FCA
Company No.. 00080683
Page.. 13

THE UNION JACK CLUB
CONSOLIDATED STATEMENT OF CASHFLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Cash flow from operatlnE actlvltles
Net cash provided by operatln8 activitie5
1.957.403
3,ISI,188
Cash flows from Investing actlvltles
Investment incorne and interest received
Finance costs
(Decreasel I Incre3se in ca%h held by investment tnaTrager
Proceeds from disposal of fixed asset investments
Acqu15Ition of flxed asset investments
Payments to acqulre tangible fixed assets
292,511
1160,4581
123,4251
1,849,567
13.076,9501
951.265
233.249
1142,6581
135,233
719.185
13,682,710)
682,162
12.070,021
13,419,764)
Cash flows from flnane4ng attivities
Net decrease in cash and cash equivalents
1112,6181
1268.5741
Cash and cash equivalents at beginning Df year
2,283,754
2.552,328
Cash and cash equlvalents at end of yèar
2,171,135
2.283.754
Reconclllatlon of net Intome to net tash flowfrom operatln8 artlvltles
2024
2023
Nei Movement In Funds
2,507,857
2.641.585
Adjustments for:
Less Investrnent income
Add finance costs
Add depreclation and disposal of tsngible fixed a55et5
Add Loss / Subtract gain on investment assets
Add I Subtract Pension provision adjustment
Subtract loss on sale of tangible fixed assets
Increase in stocks
Increase / Decrease in debtors
Increase / decrease in credltors
Decrease iti LongTorm Credltors
1292,5111
160,458
756,852
11,121,574)
I47,3￿)
24.732
110.9541
116,2801
14.3651
488
1233,2491
142.658
792,480
1487,8381
200
124,8841
11,255,436)
1,568,324
7,348
Net ¢3sh provided by operatln8 actlvltles
1,957,403
3,151,188
Analysis of changes in net debt
As at the IstJanuary 2024
Cash Flow
As at the 31st December 2024
Cash
£2,283,754
1112.6181
£2.171,136
Page.. 14

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
COMPANY INFORMATION
Thp Union Jack Club, a registered charlty, Is a company limltod by guarantee, not having a share capital and is
iticorporated in England and Wales. In the event of a winding up, each member may be TEqulred to contrlbute an
amount not exceeding £1 towards the settlement of the aub's liabillties. The re8i5tEred office is Sandell StreÈL
Waterloo, London, SEI 8UJ.
ACCOUNTING POUCIES
Accounting Convèntlon
The Flnanct31 Ststements are prepared under the historlcal c05t convention, modified by the inclusion of fixed asset
Investments at market value (note 101, and in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021. The Charitable Company and its subsidiary are a public benelit group lor the
purposes of FRS 102 and therefore the Charity also prepared its Fihancial Statements in accordance with the
Staternenl of Hecommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applScable In the UK and Republic Of Ireland (The FRS 102 Charities SORPI, the Companies Att
2006 lunder the provision of the Large and Medium-sized Companles and Groups (Accounts and Reportsl Regulations
2008 ISI 2008141011, and the Charitie5 Act 2011.
The Financial Statements consolidate The Union Jack Club and sts sLsbsidi3ry, The Union lack Club (Trading) Llmlted. A
separate Statement of Financlal Aclivitie5 and Income and Expenditure Account are not presented for the Charitv
itself as the Charity has taken advantaEe of the exemptions afforded by section 408 of the Companles Act 2(M)6.
The Financial Statements are prepared in sterling, whSch Is the financial currency of the charitable company.
Monetary amounts in these financial statements are rounded to the nearest pound.
The princip31 accounting poliaes adopted in the preparatlon of the financial Statements are set oyt below.
Going Concern
The Financial Statements have been prepared on a going concern b3515 which assume5 the charity and tradin
company will continue operatlonal existence for the foreseeable future. The Trustees have a5S25sed whether the
use ol the going CDncern basls Is appropriate and have tonsldered possible events or condltions that mlght cast
significant doubt Dn the ablllty of the charity 3nd trading Company to continue as a going ¢oncern. The Trustees have
reviewed the forecasts and projections prepared by management for 3 period of at least twelve months from the
date of approval of these 15nancial statement5. These show that the Club is projected to make a surplus for the year
endlng 31st December 2025. These forecast5 have been preparpd on a prudent basis, and the Trustees believe the
ssumptions and estimates used in their preparation are re3son3ble.
Following a revlewof the financial situation. the Trustee5 are conlident that glven Its strong asset base. including its
r7restricted Investment portfolio, the chartty and trading company has sufficient reserves to cover liabilitie5 as thev
fall duÈ and therefore the financial statements are accordingly prepared ors a going concern basis.
Page.. 15

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES Icontlnuedl
Tanglble Flxed Assetg
Tangible fixed assets with a Cost of £5,000 or more are capitallsed. Depreciation of tangible fixed assets Is provided,
on 3 stfaight line basis, at amounts estimated to Wfite off the cost over thelr expected usefvl life as follows:
Freehc>ld buildings
Major plant Items
FurnltLire, Ilttlngs and sundry equipment
Computer equipment
10- 50 years
20 & 25 years Iwhero appropriatel
5 & 10 ¥ears (where approprlatel
3 & 5 yeats (where appropriatel
The Club's collecrlon of pèintlng5 and clocks is c3rrled at valuatlDn and is Thot depreciated on the grounds that any
depreciation charge would be imrnaterial. Certain fixed a55et5 in Furniture & Fittings are now recognlsed as hamng S
years of useful economic Ilfe IUELI.
Provlslon for Resldentlal 5ervicè5 Ilncome and Expendlturel
This represent5 the amounts derived from the provlsion of services. which fall wlthin the aub's ordinary artivities, all
of which are continulng.
Donations. LeRacles and Glfts
All income is recognised when there ¢s entÉtlement to the funds, the receipt Is probable and the amount can be
measured reliably.
Donatlons, legacies and Élfts are included in In￿MIng resource5 when receivable. When donors speclfy that
donatlons, legacles or glfts are for particular purposes, they are treated as restricted income.
Subscriptlon5
Subscriptions Income derives from subscrlption fees of members. The subscription period runs in conjunction with
the financial year.
Tradlne Income
Trading Income con515ts of income generated by the subsidlary from the provision of accommodation alld catering to
non members.
Investment5
Interest receivèble and Income from investments are included on the basls of the amount earned during the year.
Inv25tmEnt5 are classified as fixed assets In accordance with the Charltles SORP. Both reallsed and unrea115ed gains
and losses are rècogni5ed in the Ststement of F¥nancial Activities.
Financlal assetslliabllltles measured at amortised cost
Cash and cash equlvalents include cash at banks and in hand and short term depo￿t$ wlth a maturity date of three
months or le5
Debtors and creditors receivable or payable wlthin one year of the reportin8 date are carried at their at transaction
price. Oebttsrs ènd creditors that are receivable or payable In rnore tl>an one year and not sublect to a market rate of
interest are measured at the present value of the experted future receipts or payment discounted at a rnarket rate of
interest,
Operatlng Leases
ReNtals under operating leases hève been tharged to the Statement of Financial Acllvities on a strai8ht line basls.
Resources Expended
Resources expended are included in the Statement of Financlal Actlvlties on an accruals basis. Liabilities a
recognised once there is a legal or constructive obligation to transfer economic benefit to a third party,11 15 probable
that a transfer of economlc benelit5 will be required in settlement and the amount of the obligation can be measured
Certain expendlture is directly attributsble to specific acuvltles and has been included In those cost categories.
Certain other costs, which arè attributable to more than one aetivilyj are apportioned across cost categories on the
basis of occupancy rates between the Charity and its subsidiary, and the proportion ol time spent by stafl on those
Page.. 16

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
Penslom Contributlons
The Unlon Jack Club pays deflned wntributions towards stakeholder penslon schemes for qualifyln8 employees.
The annual cost Is expensed in the Statement of Flnan¢ial A¢livlties.
Provision is made the Financial Statements for the Council's estimatod liability in respect of existing discretionary
pensions directly paid by the Club within the Statement of Financial Activitie5, Balance Sheet and Césh Flow
Statement in accordance with FRS 102 SORP module'Retirerllent and post-employment benefits,.
The Union lack Club eonrributes to money purchase schemes for certain senlor employees., contributions are
assessed on entry as a level monetary amount payable over the employee's expected career with the Club.
The Union J3ck Club also provides the contributory Group Personal Pension Plan foy all qualifying @mployees. The
Plan is set up in line with the workplace pension scheme set up by the govwnment under NEST INational
Employment SavinRs Trust).
Stixks
Stocks are stated at the lower ol c05t and net realisable value,
Fund Accountlng
Fund5 held by the Charity are etther..
Unrestricted generolfunds these are funds which can be used in accordance with the charitable objects at the
discretion of the Counol.
Re5trKtedfvnds these are funds that can only be used for particular purposes specifled by thE donor or whe
fund5 are raised for particular purposes within the objects of the Charity.
Unrestricted designated funds
these lunds represent funds whSch have been separately desI￿ated by the
Trustees trf the Charity, as part of unrestrScted funds.
Crltlcal accovntlng E5tlmate5 and area5 of ludgement
In preparlng Flnancial Staternents It is necessary to mako certaln judgernents, estimates and assumptlons that affect
the amounts recognised in the Ftnanci81 Statements.
In the view of the Trustees in applying the accounting policies adopted. apart from the estimate listed below, no
judgements were required thai have a significant effect on the amounts recognised in the Financial Statements nor
do any estimates or assumptions made carry a significant risk of material adj(Astment in the next financial year.
Judgements included in these accounts.. the pension estimate in Note 15a.
DONATIONS, GIFTS AND LEGACIES
Unrestrictsd
Restrlcted
2024
Indimdual Don3tlOll5
Legacy
Gift Md Reclaim On Subs & Donations
Servlce non-publicfunds
16,339
24,092
112,449
16.339
24,092
112,449
152,879
152,879
bl
Unrestrlcted
Restrlcted
2023
Individual Doftatlons
Legacy
Gift Aid Reclaim On Subs & Donations
Service non-publlc funds
25,267
1,327,505
80,267
25,267
1.327.505
80,267
1,433,039
1,433,039
Page.. 17

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
NET INCOME FROM TRADING AcfiviTIES OF SUBSIDIARY (all unre5trlcted for current and prlor yearl
The Union Jack Club h35 one wholly owned subsidiary, The Union Jack Club ITradingl limited. which operates the
trading activity of the Club and gifts its taxable profit to the Club. A summawy of the results of the subsidiary is
shown below..
2024
2023
Turnover
Cost of sales
1,973,239
1.795.054
1,072,555
999,9111
Gross profit
Administration expense5
Operating profit
900,685
13.9291
795,143
17,1751
896,756
787,968
Other income
13.622
7,593
Profit on Ordinary Activi￿e5 before taxation
910,378
795,561
Tax on Profft Dn Ordinary Actwitie5
Retained earnlngs brought forward
795,561
666.027
Gift Aid Distribution to The Union lack Club
795.5611
1666,0271
Retalned earnlnBS carrled forward
910,378
795,561
The Union Jack aub's trading activities include an a￿o￿nt of £1,054,379 12023 É983,5141 for rent and other
servlces charged by the Club to its subsidiary which is eliminated on consolidation. The group's trading actlvlties
conslst of the turnover of the subsidiary a5 shown above. Expenditure of £1,076,483 12023 £1,007,086) Is also
Included which cotllprises c05t Df 5ale5 and administration expenses.
INVESTMENT INCOME (all unrestrirted for current and prlor yearl
2024
2023
Shares UK Ilsted
Property Portfolio UK listed
Shares Over5ea5 listed
118,210
33,482
55,308
98,221
34,783
34.796
207,000
85,511
167,8
65,449
UK bank deposit interest
Total for the Group
292,511
233.249
Page.. 18

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
INCOMING RESOURCES FROM CHARITAULE ACTIVITIES lall unrestrlcled fDr current and prloryearl
2024
2023
Subscriptions
Provlslon ol resldentlal seNlces'.
A¢commodatio
Qtering and barsales
986,096
694.790
6,016,989
3.OOL.243
5,636,138
2,665.378
10,004,327
8,996,306
INSURANCE CLAIM
2024
2023
Other Income- Insurance Claim
12,643
EXPENDITUAE
Staff
Costs
Other
Depreclatlon
Total
al EXPENDITURE ON RA151NG FUNOS
Trading activltles
2024
1,076,484
65,954
56.201
160.458
7.000
L076,484
65.954
56.201
160,458
7,000
1,366,097
Investment managernent fee5
Finance cosrs
Flnance cost ol pension liability
1,366.097
ExpeNDITURE ON CHARITABLE ACTIVITES
Provlslon of membershlp and resldentlal services
5,894,061
3.106.791
756,852
9,757,704
Total Operating ExpenditUTe
5,894,061
4,472,888
756,852
11.123,801
IrKludinE audltor remuneration of £20,65012023 £14,051)
Staff
Costs
other
Depre¢latlon
Total
bl EXPENDITURE ON RAISING FUNDS
Trading activitles
Fundraislng and publlclty
Investment managemeftt fees
Flnance costs
Finance cost of penslon Ilablllty
2025
1,007,086
52,187
41,116
142,658
8,100
1,007,086
52,187
41.116
142.658
8.100
1,251.147
1,251.147
EXPENDITURE ON CHARITABLE AcfiviTES
Provision of membershlp and resldentl21 sÈrvlcÈs
5.527.921
2,852.358
773,077
9,153,356
Total Operatlng Expendlture
5.527.921
4,103.505
773 077
10,404,503
All of the above were unrestrkted expendltsjre for the cur￿n1 and In the PllDr year.
PÈgÈ.' 19

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS {continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
EXPENDITURE Icontlnuedl
cl ANALYSIS OF SUPPORT COSTS
Provision of membership and resldentlal servlces intludes support costs as follows..
2024
2023
Administratlon stalf costs
Legal and other professlonal
730,773
),564
705,597
83,S96
821,337
789.193
Basis of allocatlon..
The above costs are fully allocated to the provision of membership and residential Servi￿$.
dl STAFF COSTS
2024
2023
Wages and $31aries
Pension eontributlons
Employer's National Insurance Contributions
5,250,Ig4
168,033
475,834
4,970,826
151,029
406,066
Club 5tsff costs
5,894,061
5,527,921
2024
No.
2023
No.
The number of employees receivtng emoluments of £60.000
or more was as follows..
£60,001- E70.000
£70.001- £80,OOQI
£80,001- £90,000
£130,001- £140,000
2024
2023
The average monthly nurnber of employees during the year
was as follows..
Mandgement and Administratlon
Union Jack Club stsff
li
151
io
162
162
172
Note.. On average 137 of the 162 employees were Permanent Stall12023 130 of the 172 employees were
Permanent stafll
èl TRUSTEES AND KEY MANAGEMENT PERSONNEL
No Trustee recelved emoluments in the perlod12023 £NILI. Totsl travel expenses of 2024 £1,59912023 £4,553)
were paid to 3 12023 31 TrusteÈs during the period.
Key management personnel Included the Trustees, Chief Executive and Senior staff reporting dsrectly to the Chlef
Executive. The tot31 emolum&nts of the Charity's key management personnel were £3(19,13012023 £290,966).
Page.. 20

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
Charltv
Furniture.
Flttlngs and
Equlpment
TANG16LE FIXEDASSETS
Freehold
Land and
Bulldln8S
Group and Charbty
Total
Cost
At l January 2024
Additlons
Disposals
Removal of f￿lIV deprecièted a55ets
6,855,920
5,198,154
951.265
165,7511
1864,9101
12,054,074
951,265
165.7511
1864,9101
At 31 Deeember 2024
6,855,920
5 218.759
12 074 679
Depretlatlon
At ljanuary 2024
Charge for the year
Disposals
Removal of fully depreciated assets
5,170,729
190,176
2,446.396
566,676
141,0211
1864,9101
7,617,125
756,852
141,0211
1864,9101
At 31 December 2024
5,360,905
2.107.142
7.468.Q48
Net Bookvalue
At 31 December 2024
1,495,015
3,111,617
4,6C16,632
At 31 December 2023
1.685.192
2.751,758
4,436,949
Fixed assets held bythe Urkion Jack Club are as detailed above.
Freehold sand and buildings comprise the Union lack Club's premises at 91 Waterloo Road,
Gascoigne Room and Sandell Sireet. The Union Jack aub's premlses were built as part of a
redevelopment, completed in 1975, for which the Union lack Club provided the site but paSd only a
small part of the building costs. These premises were revalued in 1975 at £3.9m. It shtsuld be
recognlsed that the value of the premises hé5 substantially increased in value. The other costs
represent additions since 1975. In accordance with the transitional ar¥angements of the original
FRS 15, Tangible Fixed Assets, the valuation h85 not been updated.
Page.. 21

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 FIXED ASSET INVESTMENTS
2024
2023
Group
Investments at marketvalue..
At l J3nuary 2024
Addltions
Disposals
Net ie81ised gain / I loss l on disposal
Nei unlealised Investment gairt / I lossl
9,673,233
3,076,950
11,849,567)
155,6041
1,177,179
12,022,190
6,221,870
3,682,71C)
1719,1851
17,9811
495.819
9,673,233
Cash held by Investment manager
67,490
44.065
At 31 December 2024
12,089,680
9,717,298
Investments comprise=
UK equitles and funds
Overseas equitie5
Cash held
5,222,569
6,799,621
67,490
5,610,838
4,062,395
44,065
12,089,680
9 717.298
Hi5tori¢al cost at 31 December 2024
9,281,156
6.401.269
Club
As above
Investment In subsldlary undertaking
12,089,680
9,717,298
12.089.682
9.717,3CM)
11 STOCKS
Charlty
Group
2024
2023
2024
2023
Stocks- CleaninE/Fine Wines
Shop
Caterfng
Bar
48,788
30,526
48,788
25.239
19,240
28,847
30,526
18,467
23,384
38,783
19,240
28,847
23,384
38,783
96,875
122 114
111,160
Page.. 22

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS {continued}
FOR THE YEAR ENDED 31 DECEMBER 2024
IZ DEBTORS
Charity
Group
20Z4
2023
2024
2023
Trade debtors
Membership Debtor5Accoufjt
Other debtor5
Prepayrnents and accrueil income
6,802
1,026,203
14,555
445,246
33,322
911,844
4,860
492,585
43,503
1,026.203
14,555
445,246
103,938
911,844
4,860
492,585
1,492,805
1,442,611
1.529,507
1,513,227
L3 CREDITORS.. AmDUnts falllngdue
withln one year
Charity
Group
2024
2023
2024
2013
Trade ¢rÈdit¢rs
Amount owed to 5ub5É(fiary
other creditors
othertax and social secu¥ity credltors
Accruals
Deferred Income
237,365
679,237
40,244
646,937
523,461
1,690,875
488,891
354,528
16,187
667,039
445,310
1,525,360
241.581
555.349
96.126
698,907
526,461
1,690,875
16,187
671,555
489,865
1,525,360
3,818,119
3,497.315
3,253,949
3,258,315
14 CREDITORS.. AmouAt5falllng due
aftÈrmorÈ one year
ha¥lty
Group
2024
2023
2024
2023
Deferred Income
23,080
22,592
23,080
22,592
23,080
22,592
23.080
22,592
15 PENSION PROV1510N
al Dlscretlonary Penslons
tliscretionary pen5ion5 have been granted to certaln former employees, whlch are pald bythe Club directly. Therefore,
prowsion of £121,70012023 £169,800) h£s been made In these atcounts for the future liability expecte(f In respect of
exTsting penslonÈrs In Ilne wlth thÈ rÈquiremÉnts of FRS102. No specific asset5 are held. The latest valuatlon of these
Ilabllltles wa5 carried out a5 at 31 aecember 2024 by an independent quallfled actuarv.
Penslon payments are ch8r8ed £8ainst the Pro￿510￿ whichls re-355essed annually. Pension payments for the year were
£18,900. IntEre5ton the provision and the1I2bility ari￿ng on the Eranting of new penslons Is charged to the Intome and
expenditurp aciount. Actuarial experEnce g3ins and105ses are reco8nlsed under othercomprehensive income. The
key FR5102 855vmption5 used to value the Ilabllltles are setout In the follo￿￿& table. The table a150 sets outthe
present value of the FR5102 Ilabllltles. Thls present value Is Èqual to the gros5 pension Ilablllty.
AssumDtlons
2014
2023
2022
Dlscount rate
Pett5ion increase5
Life expectancyfora 65year old female pensloner
Life expectancyfora 65 year old male pensioner
5.0%
3.5%
88.4
85.7
4.4%
3.5%
88.3
85.7
5.1%
3.5%
88,7
86.1
Page.. 23

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 PENSION PROVISION Icontlnued)
The gross pension liabllity under FRS 102 moved as follows during the year to 31 December 2024
2024
2023
Gross pension Ilabillty at start of year
PerTrsions paid
Charge to finance income
Actuarlal Igalnl1105s recognised outside the income and expendlture account
169,¢J)O
118.9001
7,000
135,4001
168.800
121,5001
8.100
13.600
Gr055 pension liability at year end
121,700
169,000
The following amounts are included as Ichargesl/credits to finance income under FR5 102..
Interest tsn gr055 pen5ton liability
7,000
8,1(K>
Aduarial Ig8inl I Ioss recognised outslde the Income and expenditure account
135,4001
13,600
Other Penslon Arrdngements
The Union lack Club commenced paylng defined contributions towards stakeholder pension schemes for certain
existing employees from l June 2001. The annual cost is expensed in the statement of financial activities.
The Union Jatk aub provide5 a cotTrtributory pension scheme for all employees. At Ihe end of 2024, there were 93
employees in the scheme. The Club Contributes 5% of employee's salary ènd the ernplDyee 3%. The remainder of
employees decided to opt out ot the scheme. The annual cost is expensed it) the staterThent of financtal activities.
The Union Jack Club also contribute5 5% of employee's salary to other defined penslon schemes. Employees are
able to increase the employee's contribution if desired.
Page.. 24

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 MOVEMENT ON RESERVES
Deslgnated
Revaluatlon
Reserve
DeslEnated
FIKed Asset
Reserve
Deslgnated
Infrastructure
Fund
Income and
EKpenditure
Reserve
Total
At l January 2024
1,622,680
4,280,949
2,816,703
5.892.149
14,612,481
Surplus I IDellcitl for the year
L350,883
1,350.883
Net Galns and transfers
1,196,353
247,683
1287,0611
1,156,975
Utillsatlon of funds
At 31 December 2024
2,819.033
4,528,632
2.816,703
6,955,971
17,120.339
Included in the income and expenditure resetve is a penslon liability of £12L70012023 £169,0001
Net galns and transfers represetit the actuarlal gain / Ilossl on pension liabilities, realised and unrealised gains/
Ilossesl on Investments and any transfers to / from clesignated funds. It also includes a transfer between the
revaluation resetve and the income and expendltu¥e reserve of £78,000 which is the difference between the
depreciation on the hlstoric cost I£Nill and the revalued 3mount1£3.9 mlllionl, of freehold buildlngs compleied I
1975. The depreclatlon rate is 2% SEra1ght line.
In 2014 Trustees made the decision to formally recognige ihe monies tied up in the tanglble fixed assets of the
charitv as a designated fund, to make it clear to the reader of the accounts that thls money 15 not freely
expendable OTr the Charity's actlvitie5, A transfer was mède from unrestricted general funds to reflect thi5.
TheTangible Fixed Assets designated fund 15 i&tilised over the lilotime of the assets.
In 2018, the Tru5tee5 made the decision to cover any forthcoming major ropeirs externally or internally to the
building by creating a rnajor repair fund. In 2019, the Trustees decided to retitle the fund as Infrastructure Fund
which was utilised during the year to develop the Gascolgne Room. The Trustees have decided to contlnue with
the De5ign3ted Infrastructure Fund which was establlshed in the 2019 account5. During 2024, Nil was added to the
fund. In 2023, £1,320.395 wa5 added.
Page.. 25

THE UNION JACK CLUB
NOTES TO THE FINANCIAL STATEMENTS {Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
17 ANALYSIS OF NET ASSETS BY FUND
2024
Deslgnated DeslÉnated
Revaluation
Fixed Asset
Resen
ReseNe
Designated
Infrasirurture
Fund
Income and
Expendlture
Beserve
2024
Total
Tangible fixed a55Pt5
Investments
Netassets
Qeditors > One Yeèr
78,000
2,741,033
4.528.632
4,606,632
12.089,680
568,808
1144,7801
6,531,944
56B,808
1144.7801
2.816,703
2 819 033
6,955,972
4,528,632
2 816,703
17,120,339
bl
2OZ3
Deslgnated
Revaluation
fteseNe
Deslwated
Hxed Asset
Re5evve
OÈsigftated
Infiastruaure
Fund
Incorne and
Expenditure
Reserve
2023
Total
Tangible fixed assets
InvestmenES
Net Jssets
C¥Èditors > One Year
156,ODO
1,466,680
4,280.949
4.436,949
9.717,298
649,826
1191,5921
2,816,703
5,433,915
649,826
1191,5921
1622 680
4 280 949
2.816.703
5,892.149
14,612,481
18 COMMITMENTS
Capital coThmltrnents contracted for at the balance sheet date but not provlded for In these financial ststements were
valued at £87,78612023- 54,5231.
19 OPERATING LEASE COMMITMÈNTS
The Charlty had annual operating lease corllmitrnents as follows..
withln I year
Between l and S years
1024
2023
15,502
28.325
20 RELATED PARTYTRANSACTIONS
Accommodatlon sales between Charity and Trading company dursng the yearwere £360.30712023 E332.3281. Rotsrn Hire
sales between Charlty and Trading company durlng the year WEre E345,95412023 £308,562). Food sales between Charlty
and Trading company during the year were £267.52512D23 £268,6391. Liquor sales between Charity and Tradlng
company during the year were £80,59312023 £73.9861. GiftAid to be pald to the Charltyfor 2024, pald in 2025 is
10,378 (Gift Ald for 2023, paid during 2024 wa5 £795.5611. The Intercompèny balance for 2024 between the Ch4rity
and the Trading company Is £679,23712023 £354,528>
Page,, 26