REGISTERED CHARITY NUMBER: 214015
## REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
PARACHUTE REGIMENTAL ASSOCIATION
PARACHUTE REGIMENTAL ASSOCIATION
## CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
eee
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Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements & to 14
Detailed Statement of Financial Activities 15 to 16
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PARACHUTE REGIMENTAL ASSOCIATION
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2020
## PATRON:
His Royal Highness The Prince of Wales KG KT PC GCB AK QSO ADC
## PRESIDENT:
Lieutenant General Sir John Lorimer KCB DSO MBE.
MEMBERS OF THE COMMITTEE OF MANAGEMENT
Lieutenant Colonel L. Cradden MBE (Chairman) Mr. J.J. Wilson (Vice Chairman) Mr. L. Riggs (resigned April 2020) Mr. J. Hardicker Mr. P. Bryant Mr. M. Wattam Mr D. Smart (appointed January 2020) Mr P. Morrison (deceased October 2020) Mr D. Singletary Mr. G Duffus Mr. V. Thorn Mr. T. Wood Mr A. Ellis (appointed April 2020) Mr B. Black (appointed May 2021)
## CHARITABLE STATUS:
The Association is a registered charity No. 214015
## GOVERNING DOCUMENT:
Constitution dated 20 June 1964, as amended 8 July 1972, 3 July 1978, 9 May 1993, 31 October 1999, 13 May 2000, 8 July 2001, 8 October 2005, 26 January 2008, 12 October 2008, 18 July 2009, 6 July 2013, 27 November 2014, 8 July 2017 and 13 October 2018.
CHARITY ADDRESS: INDEPENDENT EXAMINERS: R.H.Q The Parachute Regiment Bright Brown Limited Merville Barracks, Chartered Accountants, Circular Road South, Exchange House, Colchester, St. Cross Lane, Essex, Newport, Isle of Wight, CO2 7UT PO30 5BZ
BANKERS: INVESTMENT ADVISORS: Royal Bank of Scotland JM Finn & Co Holt's Farnborough branch, 4 Coleman Street, Lawrie House, Victoria Road, London, Farnborough, EC2R STA GU14 7NR
Page 1
PARACHUTE REGIMENTAL ASSOCIATION
## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
## eee
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## OBJECTIVES AND ACTIVITIES
## Objectives and aims
The Objects of the Parachute Regimental Association are:
- To promote the efficiency of the Parachute Regiment and Airborne Forces by fostering esprit de corps and maintaining contact between past and present members thereof.
- Torelieve either generally or individually persons who are serving or who have served in the Parachute Regiment and Airborne Forces.
- The commemoration and remembrance of those members of the Parachute Regiment and Airborne Forces who have died while on active service; and the encouragement of public recognition of the sacrifice made by such persons.
## Significant activities
The Association and its branches participate in support and organise a range of activities which provide a public benefit. These include:
- Public Regimental events to raise awareness about the role of the Regiment, to encourage public support for the Regiment and to assist in recruitment.
- Holding events and reunions for past and present members of the Parachute Regiment and Airborne Forces, to assist in esprit de corps.
- Acts of remembrance (e.g. Regimental Memorial Day at the National Memorial Arboretum, Armistice Day, RBL Field of Remembrance, Ardennes, Rhine Crossing, Arnhem, Aden and the Falklands) which raise public awareness of those who have lost their lives or put themselves at risk in service of the public.
- - Maintaining a membership network and encouraging social contact in order to identify those former members and dependants who may be in need from time to time.
- Providing local Welfare Officers who visit members and dependants who may be sick, recently bereaved, or find themselves in difficult circumstances.
- Incollaboration with other Regimental Charities, make grants (either individually or to an organisation) to support past and present members of the Parachute Regiment and Airborne Forces and their dependants who are in need.
- Supporting Parachute Regiment recruits whilst undergoing training at the Infantry Training Centre at Catterick.
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PARACHUTE REGIMENTAL ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
,
## ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, the charity has undertaken the following activities:
1. Provided financial and organisational support to the Regional Airborne Forces Days across the Country.
2. Attended funerals and memoria! services of former serving members of The Parachute Regiment and Airborne Forces. 3. Actively fundraised for other Regimental Charities i.e. The Parachute Regiment and Airborne Forces Charity (Support Our Paras).
4. Provided physical support to virtual services for the Regimental Memorial Day at Parachute Regiment and Airborne Forces Memorial at the National Memorial Arboretum.
5. Made donations in support of the maintenance of Regimental Memorials.
6. Provided grants in support of and organisational support to:
- Recruit Platoon passing out parades at ITC Catterick. - Support to Airborne 'In Pensioners’ at the Royal Hospital Chelsea. - The Parachute Regimental Association Executive Committee Biannual meeting. - The Parachute Regimental Association Annual General Meeting (virtual). - The Parachute Regiment and Airborne Forces Memorial day (filmed service).
## FINANCIAL REVIEW
## Financial position
The result for the year shows a surplus (net Income) of £65,061 compared to a surplus of £141,631 in 2019, the main cause of this is a more modest increase in the value of investments, £57,273 in 2020 compared to £116,758 in 2019. Given the difficulties in the investment markets faced in 2020 as a result of the pandemic, the Trustees are delighted with the performance of their investment managers over this period.
Income for the year totalled £85,229 (2019: £141,236), this decrease was as a result of fewer donations and grants received in the year mostly as a result of the pandemic. Donated services and facilities from the Ministry of Defence (MOD) decreased in 2020 to £50,819 (2019: £54,785). This donated services figure represents free office accommodation and the provision of employee services to the charity (the related costs are shown within the wages expenditure line on the detailed SOFA).
Total resources expended in the year amounted to £77,441 compared to £116,363 in 2019, an decrease of £38,922. Expenditure decreased as a result of the inability to run events and commemorations during the majority of 2020.
## Investment policy and objectives
At the year end the charity held investments, with a market value of £896,276 (2019: £826,585), with JM Finn. At the year end there is a increase in the investment value of £57,273 which is reflected in the statement of financial activities,
The Trustees have the power to invest in such assets as they feel appropriate and meet both the requirements of the charity in the short and long-term and are also risk appropriate to the charity. The Trustees regularly review the performance of its investments in line with the charity's current and future plans.
## en
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PARACHUTE REGIMENTAL ASSOCIATION
## REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
## FINANCIAL REVIEW
## Reserves policy
As at 31 December 2020 the charity's total reserves were £933,454 (2019: £868,393), all of which were unrestricted for the charity to use in meeting its charitable objectives. The Trustees have reviewed their current level of reserves which equate to just over 8 times the charity's normal annual expenditure, this ratio has remained relatively constant over the last few years until 2019, and has been mostly dependent on the fluctuations in investment performance which is the major cause of the increase in reserves.. The Trustees consider their level of reserves to be reasonable having reviewed the economic climate and risks to the charity's income.
## STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Constitution dated 20 June 1964, as amended 8 July 1972, 3 July 1978, 9 May 1993, 31 October 1999, 13 May 2000, 8 July 2001, 8 October 2005, 26 January 2008, 12 October 2008, 18 July 2009, 6 July 2013, 27 November 2014, 8 July 2017 and 13 October 2018.
## Organisational structure
The Trustees who have served during the year and since the year end are set out on page 1.
The Chairman of the Committee of Management is a serving officer nominated by the Parachute Regiment; presently this is the Regimental Lieutenant Colonel.
Further members of the Committee of Management comprise of one representative of the following regions: Anglia, London, Midlands, North, North East, North West, South, South East, South West, Wales, and Yorkshire. These representatives are elected by branches of their own region and hold office for three years.
## The Association structure comprises of:
- a) The central Association charity (registered number 214015): In support of its charitable activities the central charity offers individual membership to eligible individuals and provides central and regional support for local branches.
- b) 80 local branches which exist to further the purposes of the Association and are separately registered with their respective charity regulator. (PRA members may additionally become members of one or more local branches.) The elected members of the committee of management of the central Association charity also act as Regional Secretaries and provide regional support during the course of[the][ year][ to][branches][in][their] respective region,
## Related parties
The Parachute Regimental Association is one of a number of charities connected with the Parachute Regiment and Airborne Forces, but these are not considered to be related parties under FRS 102. A summary of any related parties and transactions with them is set out in note 12 to the financial statements.
Approved by order of the board of trustees on vente Ee ZAR i ZN corse and signed on its behalf by:
Lt Col L Cradden MBE - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARACHUTE REGIMENTAL ASSOCIATION
## Independent examiner's report to the trustees of Parachute Regimental Association
1 report to the charity trustees on my examination of the accounts of Parachute Regimental Association (the Trust) for the year ended 31 December 2020.
## Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)}(b) of the Act.
## Independent examiner's statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- i. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Stevens ACA Chartered accountant Bright Brown Limited Chartered Accountants Newport Isle of Wight PO30 5B2
Page S
## PARACHUTE REGIMENTAL ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
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|||||||
|---|---|---|---|---|---|
|2020|2019|
|Unrestricted|Total|
|funds|funds|
|Notes|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations|and|legacies|61,430|77,493|
|Charitable|activities|
|Promoting|the|efficiency|of the|Parachute|
|Regiment|and|Airborne|Forces|-|21,962|
|Other trading|activities|2|661|11,751|
|Investment|income|3|23,138|28,240|
|Other|income|-|1,790|
|Total|85,229|141,236|
|EXPENDITURE|ON|
|Raising funds|4|6,256|13,314|
|Charitable|activities|
|Promoting|the|efficiency|of the|Parachute|
|Regiment|and|Airborne|Forces|70,974|98,361|
|Commemorations|and|remembrance|211|4,688|
|Total|77,441|116,363|
|Net|gains|on|investments|57,273|116,758|
|NET INCOME|65,061|141,631|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|868,393|726,762|
|TOTAL FUNDS|CARRIED FORWARD|933,454|868,393|
**----- End of picture text -----**
The notes form part of these financial statements
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## PARACHUTE REGIMENTAL ASSOCIATION
## BALANCE SHEET
## 31 DECEMBER 2020
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||||||
|---|---|---|---|---|
|a|
|2020|2019|
|Unrestricted|Total|
|funds|funds|
|Notes|£|£|
|FIXED ASSETS|
|Tangible|assets|8|134|798|
|Investments|9|896,276|826,585|
|896,410|827,383|
|CURRENT ASSETS|
|Stocks|10|450|450|
|Debtors|11|12,500|14,381|
|Cash|at|bank|28,948|36,101|
|41,898|50,932|
|CREDITORS|
|Amounts falling due within one year|12|(4,854)|(9,922)|
|NET CURRENT ASSETS|37,044|41,010|
|TOTAL ASSETS|LESS CURRENT|LIABILITIES|933,454|868,393|
|NET ASSETS|933,454|868,393|
|FUNDS|13|
|Unrestricted funds|933,454|868,393|
|TOTAL FUNDS|933,454|868,393|
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The financial statements were approved by the Board of Trustees and authorised for issue on otis Lele DO.Beh. and were signed on its behalf by:
L Cradden MBE - Trustee
The notes form part of these financial statements
a Page 7
PARACHUTE REGIMENTAL ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
## Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
## Computer equipment
- Straight line over 3 years
## Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## Taxation
The charity is exempt from tax on its charitable activities.
## Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Where there are any restricted or designated funds a further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
## PARACHUTE REGIMENTAL ASSOCIATION
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||||||
|---|---|---|---|---|
|2.|OTHER TRADING|ACTIVITIES|
|2020|2019|
|£|£|
|Stock|sales|661|11,751|
|3.|INVESTMENT|INCOME|
|2020|2019|
|£|£|
|Dividend|income|23,138|28,240|
|4.|RAISING|FUNDS|
|Investment|management|costs|
|2020|2019|
|£|£|
|Portfolio|management|6,256|6,039|
|5.|TRUSTEES’|REMUNERATION|AND|BENEFITS|
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There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## Trustees’ expenses
During the year members of the Committee of Management received reimbursement for travel, and other expenditure of £625 (2019: £10,743).
## 6. STAFF COSTS
The average monthly number of employees during the year was as follows:
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||||||
|---|---|---|---|---|
|2020|2019|
|Management|and|administration|2|2|
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No employees received emoiuments in excess of £60,000.
The post of Veterans Officer is considered to be key management personnel, although the post is funded by the MOD. The total employee benefits for this post were £31,736 (2019: £37,103).
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PARACHUTE REGIMENTAL ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
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||||||||
|---|---|---|---|---|---|---|
|7.|COMPARATIVES|FOR THE STATEMENT OF|FINANCIAL ACTIVITIES|
|Unrestricted|Restricted|Total|
|funds|fund|funds|
|£|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations|and|legacies|77,493|-|77,493|
|Charitable|activities|
|Promoting|the|efficiency|of the|Parachute|
|Regiment|and|Airborne|Forces|10,000|11,962|21,962|
|Other trading|activities|11,751|-|11,751|
|Investment|income|28,240|-|28,240|
|Other income|1,790|-|1,790|
|Total|129,274|11,962|141,236|
|EXPENDITURE|ON|
|Raising funds|13,314|-|13,314|
|Charitable|activities|
|Promoting|the|efficiency|of the|Parachute|
|Regiment|and|Airborne|Forces|86,399|11,962|98,361|
|Commemorations|and|remembrance|4,688|-|4,688|
|Total|104,401|11,962|116,363|
|Net|gains|on|investments|116,758|-|116,758|
|NET INCOME|141,631|-|141,631|
|RECONCILIATION|OF|FUNDS|
|Total funds|brought|forward|726,762|-|726,762|
|TOTAL|FUNDS CARRIED|FORWARD|868,393|-|868,393|
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PARACHUTE REGIMENTAL ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
## &. TANGIBLE FIXED ASSETS
|TANGIBLE FIXED ASSETS||
|---|---|
||Computer|
||equipment|
||£|
|COsT||
|At 1 January 2020 and 31 December2020|2,552|
|DEPRECIATION||
|At 1 January 2020|1,754|
|Charge for year|664|
|At 31 December 2020|2,418|
|NET BOOKVALUE||
|At 31 December 2020|134|
|At 31 December 2019|798|
|FIXED ASSETINVESTMENTS||
||Listed|
||investments|
||£|
|MARKETVALUE||
|At 1 January 2020|826,585|
|Additions|134,917|
|Disposals|(147,337)|
|Revaluations|82,111|
|At 31 December 2020|896,276|
|NET BOOKVALUE||
|At 31 December 2020|896,276|
|At31December2019|826,585|
9, FIXED ASSET INVESTMENTS
There were no investment assets outside the UK.
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PARACHUTE REGIMENTAL ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS - continued
## FOR THE YEAR ENDED 31 DECEMBER 2020
|10.|STOCKS|||||
|---|---|---|---|---|---|
|||||2020|2019|
|||||£|£|
||Stocks|||450|450|
|11.|DEBTORS:AMOUNTS FALLING DUEWITHIN ONEYEAR|||||
|||||2020|2019|
|||||£|£|
||Other debtors|||690|2,123|
||North-West region|||2,018|2,018|
||Midlands region|||5,903|5,903|
||Yorkshire region|||3,184|3,280|
||Prepayments|||705|1,057|
|||||12,500|14,381|
|12.|CREDITORS:AMOUNTS FALLING DUEWITHINONEYEAR|||||
|||||2020|2019|
|||||£|£|
||Trade creditors|||-|511|
||Taxation and social security|||232|-|
||Other creditors|||4,622|9,411|
|||||4,854|9,922|
|13.|MOVEMENT IN FUNDS|||||
|||||Net||
|||||movement|At|
||||At 1.1.20|in funds|31.12.20|
||||£|£|£|
||Unrestricted funds|||||
||General charitable activities||868,393|65,061|933,454|
||TOTAL FUNDS||868,393|65,061|933,454|
||Net movement in funds, included in the above are as follows:|||||
|||Incoming|Resources|Gains and|Movement|
|||resources|expended|losses|infunds|
|||£|£|£|£|
||Unrestricted funds|||||
||General charitable activities|85,229|(77,441)|57,273|65,061|
||TOTALFUNDS|85,229|(77,441)|57,273|65,061|
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PARACHUTE REGIMENTAL ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
## 13. MOVEMENT IN FUNDS - continued
## Comparatives for movement in funds
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||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.1.19|in|funds|31.12.19|
|£|£|£|
|Unrestricted|funds|
|General|charitable|activities|726,762|141,631|868,393|
|TOTAL FUNDS|726,762|141,631|868,393|
|Comparative|net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|General|charitable|activities|129,274|(104,401)|116,758|141,631|
|Restricted|funds|
|Airborne|soldier grant|11,962|(11,962)|-|-|
|TOTAL FUNDS|141,236|(116,363)|116,758|141,631|
|A|current|year|12|months|and|prior year|12|months|combined|position|is|as follows:|
|Net|
|movement|At|
|At|1.1.19|in|funds|31.12.20|
|£|£|£|
|Unrestricted|funds|
|General|charitable|activities|726,762|206,692|933,454|
|TOTAL FUNDS|726,762|206,692|933,454|
**----- End of picture text -----**
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PARACHUTE REGIMENTAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
## 13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|charitable|activities|214,503|(181,842)|174,031|206,692|
|TOTAL FUNDS|226,465|(193,804)|174,031|206,692|
**----- End of picture text -----**
## 14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
Page 14
## PARACHUTE REGIMENTAL ASSOCIATION
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
||2020|2019|
|---|---|---|
||£|£|
|INCOMEAND ENDOWMENTS|||
|Donations and legacies|||
|Legacies and donations|4,798|13,038|
|Subscriptions|5,813|7,566|
|Donated services and facilities|50,819|54,785|
|Yorkshire region|-|1,174|
|North West region|-|930|
||61,430|77,493|
|Othertrading activities|||
|Stock sales|661|11,751|
|Investment income|||
|Dividend income|23,138|28,240|
|Charitable activities|||
|Grants|-|21,962|
|Other income|||
|Incomefrom lapel pinsandNMAtickets|-|1,790|
|Total Incoming resources|85,229|141,236|
|EXPENDITURE|||
|Othertrading activities|||
|Stock purchases|-|7,275|
|Investment management costs|||
|Portfolio management|6,256|6,039|
|Charitable activities|||
|Wages (donated services included)|57,839|61,716|
|Yorkshire region expenses|97|2,694|
|North West region expenses|-|1,575|
|Midland region expenses|-|450|
|Event costs|-|11,962|
|Travelling expenses|-|325|
|Newsletter printingand stationery|1,468|2,233|
|Advertising
Computer expenses|300
158|-
150|
|Carriedforward|59,862|81,105|
This page does not form part of the statutory financial statements
NN
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## PARACHUTE REGIMENTAL ASSOCIATION
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|2020|2019|
|£|£|
|Charitable|activities|
|Brought forward|59,862|81,105|
|Insurance|2,670|3,490|
|Sundries|888|245|
|Bank|charges|105|234|
|Depreciation|664|664|
|Commemorations|211|4,688|
|Grants|5,500|1,070|
|69,900|91,496|
|Support|costs|
|Governance|costs|
|Committee|meeting|expenses|625|10,743|
|Accountancy and|legal|fees|660|810|
|1,285|11,553|
|Total|resources|expended|77,441|116,363|
|Net income|before|gains and|losses|7,788|24,873|
|Realised|and|unrealised|gains|and|losses|
|Realised|and|unrealised|gains/(losses)|on|fixed|
|asset|investments|57,273|116,758|
|Net income|65,061|141,631|
**----- End of picture text -----**
This page does not form part of the statutory financial statements
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