Charity numbor: 214015 THE PARACHUTE REGIMENTAL ASSOCIATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
THE PARACHUTE REGIMENTAL ASSOCIATION CONTENTS Page Refor9n¢e and AdministratÉve Details of th8 Charity, its Trust•as and Advisers TrusteeB' Report Independent Examiner's Report stat•mont of Financial Activitie8 Balanca She8t Noi•s to tho Flnanclal Stal8monts Charlty Detall•d Incom• and Expendltur• Account and Summ4rl¢8 25-26
THE PARACHUTE REGIMENTAL ASSOCIATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025 Patron His Majesly King Char588111 KG KT PC GCB AK QSO ADC Presldont Li8Uton8nt G8nèr81 Andraw HaThison DSO MBE Members of the Commlttee of Management Lieutenant Colonel L. Cradden MBE, Chalmian Mr J.J. Wllson. Vlce Chairman Mr P. Bryant Mr D. Smart Ireslgned 2 October 20251 Mr D. Slngletary Mr V. Thorn Mr T. Wood Mr A. Ell18 Mr B. Ylack r C. Brooksbank r M. Farrington Mr C. Jockson Mr K. Ealon lappolnted 17 O¢lober 20251 Charlty r•gl8t•r•d numb•f 214015 Prlnelp81 offlc• R.H.Q The Parachute Reglment 8Nllle Barracks Clrcu18r Road South Colchester Essex C02 7UT Ind•pendent ¢xamln•rs Scrutton Bland Limited Accountanl$ 820 The Cre5cenl Colchesler Business Park Colchgster Essex C04 9YQ Bankers Royal Bank of Scottand Lawrie House Victoria Road Famborough GU14 7NR ve$tm*nt advl$ors JM Flnn & Co 4 CDleman Slreet London EC2R STA Page 1
THE PARACHUTE REGIMENTAL ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees pre59nl thglr annual report loggthgr wllh the ffnancial statements of the The Parachute Regimgnlal Association for the ended 31 December 2025. Objectlves and actlvltles a, Obl•¢llv*$ and Alms The obCts of the Pafa¢hule Reglmenlal Assodg11on'. To promote the efficiency of the Parachute Regimènl81 Assoclallon by fosterlng esprit d8 corps and malntainln9 contact be60n post and present mernbers therèof. To rg1l&ve eith9r ggnerally gr Indlwdually pgrsons who are seNlng or who hava sèrvad In the Parachulo Reglmgnl and Alrborne For¢o6. Tho commemoration and remembranco of those membèrs of the Parachuta Règlmgnt and Airtjorne Force8 who have dlg¢J whlle on 0¢1Sve servlce: and the $noouragamenl of publlc rec¢gnltion ol the sacrfficg made by Such persons. b. $1gnSflcanl Actlvltles Thè Assocl8llon 8nd Ils branches p8rt1clpale In support and org8nlsallon of a range ol a¢llvllles whlch provldo 0 publSc benefll. These Include.. Publc Regimental evenls lo ralse awareness about Ihg rc49 ol the Rgglmgnl, Io oncourage publlc supptsrt lor the Reglmenl and lo ass151 In recruilmenl. Holdlng events and reunlons for pasl and pres8nl members ol the Parachut$ Reglment and Airbornè Forcos. to assist In esprit de corps. A¢t$ of remembr8nc8 le.g. Reglment81 Memorial Day at thé NalSonal Memorlal Arboreturn, Armlsllce Day, R8L Field of Remembrance. Arnh&m, Aden Ihe Falklands) whleh ralse publlc awar8ness ol those who havg lost Ih6ir lives or put thernselvas at rfsk In seNice of the public. Maintaining a mgmber5hip network and gn¢our8ging social contact In order lo Idenfjfy tho$¢ former member8 and dopelldants who may bg in ngod from ilme to time. Providing local Welfare Officers who visit members and dèp&ndants who may be sick, reeenlly bergaved. Qr lind themselves in difficult circumstances. In collaborallon wlth the other Reglmenlal Charities, m8k8 grants lèithar individual OT lo an organisalionl to support past and present members of the Parachute Regimgnt and Airbome Forces and their dependanls who are In need. Supporfng Parachute Reglmenl recrulls whllsl undergoing Iraining at the Infantry Tialning Centre al Call8rl¢k. Pag8 2
THE PARACHUTE REGIMENTAL ASSOCIATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER 2025 Oblectlve$ and act1v1t1 IcontlnuBdl Aehlevements and performance Charlt8bl& Actlvltl•s During th6 year. the charlly has undertaken the followlng activilles.. 1. Provlded financlal and organlsallonal Support lo th¢ Regl¢nal Alrborne Forces Days a¢r099 the Country. 2. Attended funerals and memorlBI 8ervlces of formèr m8mbers of the Parachutè RegSmenl and Airborne ForS. 3. Actively fundTa13ed lor other Roglm8nlal Ch8ri(les l.e. The Parachute Raglmenl and Alrborne Forces Charity IPRAFCI. 4. Provided physical suppttrt tts sèrvic8s for th8 Regimental Marnorial Day 81 the Parachute Reglm8nt and Alrborno Forces mernorlal al the Natlonal Memorlal Arborotum. S. Made donallons In support of Ihg m8Sn19nance of Reglmenial Mèmorials. 6. ProvSded grants In support ol and organisallonal support lo.. Support lo Airbome veterans atlendlng commemorallons in Ihtr Rhln¥ Crosslngl Ardgnngs. The Parachute Ragimenlal Assocl81ion ExeculSve Committe8 Biannual meeting. Tha Parachute Regimenlal Assoclatlon Annual General Mègtlng. Support lo branch and r&gSonal commemoralive events acro39 tho country. Changes to Members of thè Commltte8 ol Managemgnl.. Kevin Ealon joined the commlllee In Oclobor 2025 Slrucluro, Gov¢m8nce and Management Conslltulion dated.. 14 June 2021 Number of Branches.. 71 Pagè 3
THE PARACHUTE REGIMENTAL ASSOCIATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Flnancial Review Flnancial position The result for tha year shows 8 gain of £118,575 ¢ompared to a gain of £18.523 in 2024. Th8r8 ara main factors contributing lo Ihis positive Dulcome, an increase in InvestMent value 01 £68.779, compared lo a gain of £31,124 In 2024 and an increase in total legacies and donations lo £72,896 comp8f8d to £12.279 in 2024. Income for the year totalled £149,784 12024.. £84.3601, thi¥ Irg$S6 Is solely based on Income from legacies and donatlons. The PRA received income from 4 legacies in 2025. ThÈ majorily ol donali¢)ns wer8 received from the PRA Branrhe¥, wllh 37 branches donallng, demonstrating strong engagernenl. Total resources expended In the year amouriled lo £99,988 comparèd ¢0 £96.961 tn 2024. The prlmary rea50n for Ihls is the inGr¥ase in thg PRA wages. Tho tot81 wage bill increased year on ye8r from £SI,194 to £55,893. Thi8 incroase reflects the Ministry of Def8nc8'S Withdr8W81 of funding for civil service posts, resuttlng In Ihg charity assuming tha associat8d wage costs. The Parachute Regimgnl and Alrborne Forces Charlty is currently upporting Ihg PRA wllh lundlng towards the Admlnistrallvg Assistant. Inv•8im•nt pollcy and obJectlvg8 At th8 year end the charlly held Inveslrnenls, wllh a market value of £886,73012024- £816,178>, wlth JM Flnn. Al Ihe year end there is an Increase in the inve3lmenl value of £70,552 (ln 2024 thg Incr&as8 was £25.3491 whlch 1$ rofl&cted In the statement of flnancial actlvltlas. The Truste85 have the power to invè81 in such 888818 as Ihoy fe&1 approprI8t• and m881 both the requirèmenl8 of th8 charlty Sn the short and long-lerm and are also risk 8ppropri3t8 to the charlly. The Trustees re9ularly review the performance of 118 inv681ments in Ilno wSlh tho ¢harllVs cuirent and future plans. Ro8arv08 poIIcy As al 31 December 2025. the charills lotal reservgs were £9e4.39512024'. £845,820) which 18 unreslricled for tha chartly to use In meeting its charitable objectives. The Trustees have reviewed their current level of rtsèrv8s whSch equate to lust over elght Ilme$ tho ¢h8ritls normal annual expandilure and they consider their level of reserves lo be reasonable having reviewed th8 e¢onorni¢ elimata and risks to th8 charltys Incomo. Page 4
THE PARACHUTE REGIMENTAL ASSOCIATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2025 strueturè, Gov•rnane• and Managom•nt Governlng documènt The charlly is controlled by ils governing document. a deed of trust and con81ilules and unln¢orporated charlty. Consmlullon dated 20 June 1964, as amended 8 July 1972, 3 July 1978. 9 May 1993. 31 Octob8r 1999, 13 May 2000, e July 2001. 8 October 2005, 26 January 2008. 12 Oclober 2008, 18 July 2009, 6 July 2013, 27 November 2014. 8 July 2017. 13 October 2018 and 14 June 2021. Organi8atlona5 Structure The Trustees who have served dvrlng the year and slnce th& yoar end are sel out on pag8 1. The Chalrman of thÈ Committeè ol M8nag8m8nl 1$ a servlng ofllcer nomlnatsd by thè Parachute Reglment., presently thls is the Regimenlal Lieutenant Colono1. Further members of the Committ90 gf Monagement comprl8e of ono r8presentatlvo of the following gEOns.. Anglia, Londort, Midlands. North, North East, North Wesl, South, South Ea81, South West, Walos. end Yorkshire. Thes9 rgpresentatives are elected by branches of Ihglr own reglon and hold office for three yè8rg. The Association structur8 compilses of.. al The central Assocl8llon charlly Ireglstsréd number 2140151.. In support ol Ils charblable acllvltl$$ th¢ central ch8rlly offers Indlvldual m6mbershlp to 6llglbl8 Indlvlduals and provldtrs ¢enlral and rgglonal support for local branchès. bl 71 locel branchas which exist to lurth8r Ihe purposes of thè Assoclatlon and are sepaT81ely reglgtgr9d with thelr respeclivg charity regulator. IPRA mambers may addllionally bècome members of one or more local branches). The elected members of the committee ol management ol the centr81 Assoclallon ¢hority also act as Rogional Secwtarfes and provlde regional support durlng the couise of the year lo branches in Ihgir rg¥paetivè region. Rgl¥t8d parti•s The P8r8chute Regirnental ASsoctin Is on8 of a number of charities ¢onn¢cted wlth th6 Parachute Regiment and Airborne Forces, bul these 8fe not ¢on$ldered lo be rolated parties under FRS 102. A summary of related partlèg and Iransactionsls set out In note 16 to the financlal slalements, Page 5
THE PARACHUTE REGIMENTAL ASSOCIATION TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 statement of Trustees. responsibiliti95 Th6 Trustees are responsible for preparing the Truslee5' Report and the financial statements in a¢cord8nce wlth appllcable law and Unlled Kingdom Awounllng Standards Iunileol Kingdom Gènarklly Accepted Accounting Practlcel. The law applicable lo chari118s In England & Walès rÈqulrés thè Trustees to prepare financlal statements for epch financial which give a true and fair view of the stale of affalrs ol the Charily and of rts incornlng resource8 and 8pplic8tion of rèsourcès, including its income and expendilure, for that perlod. In preparing these financial slalements, the Trustees ar8 r8guir8d lo.. select suilable accounting policies and Ihèn apply them conslslently.. observ& the methods and principles of the Charilles SORP IFRS 1021., make judgments and a¢¢ountSng estlmalès Ihal are reasonable ond prvdgnl., slate whether appllGable UK Accounllng Standards IFRS 1021 hav& bgen followed. subjèct to any m8lerlal departures disclosed and explained in the financl81 slal8ments', prepare the flnancial slalemenls on the going conc8m bas18 unl&s8 It is Inapproprfate lo presume that thè Charfly will Qonllnue in bu5in8ss. Thè Trusleo8 ar& re8pon8lblg foi k8&p5ng ¥dequ8te accounting recordB Ih81 are suffielent lo Show and explain the Charlly's transectlons and dlsc105e with reasonablÉ aetur8ey at any tlme the finan¢lal posllion of tho Charlty and enoblo them to ensure that the finanolal statements comply with the Charilles Ad 2011, the Charity IA¢counl¥ and Rgportsl Ragul8tiong 2008 and tha provisions ol the Trust deèd. They er$ also responsible for saleguardlng the assets of th8 Charity and hence lor taking r8asonabl8 step5 for the prèvention and deteellon of frgué and othgr IN8gularStles. Approved by order of Ihe members ot the board of Trustees and slgned pn Ihglr behalf by.. Llèut•nant Colonel L. Cradden MBE Trust8e Date.. Page 6
THE PARACHUTE REGIMENTAL ASSOCIATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Indep•ndant Examlner's Report to the Trustees of Th8 Parachutè R•glm•ntal Assoclatlon I'th8 Charily'l I r8port lo Ihe Trust885 on my èxamination of the accounts of the ChaTIty IOT the year ended 31 Decernber 2025. which comprise the Statement of Financial Actlvllles. th¢ Balance Sheet and Telaled not88. This report 18 madè sol8ty lo the Charftys trustees, as a body. In accord8nce wilh saclion 145 01 thè Ch8ri11è8 Act 2011. My work has beèn undertaken $0 that I might state to the Charitys trLJSta8s those rnatters l am requirèd lo slat8 to them in this report and for no other purpose. To the fullest exlenl perrnilled by law, I do not accepl or assume r$sponsibllily lo anyone other than the Charity and thè Charttys trustees a8 a body, for my work. for this report, or for the oplnions I have fomed. Rgsponslbllltles and Basls of Report As thè Tnst88s of Iha Charfty you are responslble for the pr¶tlon ol th8 accounts In a¢coidanGe wSlh th$ requirements of the CharilSos Act 2011 l'lhg 2011 Aci'i. Havlng sallsflèd m@11 that the Ilnanclal statemants ol tha Charlty arè not requlred to be audlled under Part 16 of the A¢t and are ellglble for Indep8nd8nl 8xamlnalion, I raport Sn respect of my èxamlnallon of the Charlty's 8ecounl8 Carried out under section 145 of th8 2011 Act and in carrylng out my examination I hav$ followBd th8 appllcabl6 Dlr8cllon$ givèn by Iha Charlty Commlsslon under section 14515118) of tha 2011 Act. An indopand9nt examinatlon does not invofvo gathering all the &vSdgncg that would be requlred In 8n audit and consequgnlly does not cov8r all thè malleis that an auditor consiLl&rs In giving IheSr opinion on the financial statements. The plannlng and conduct ol an audit goes beyond the Ilmited assuran¢& than an Independent •X8min8tion con provid8. Consgquontly l 8xpress no oplnton as to whether the financial 3tatÉmènls present a 'Irue and f8ir' view And my rèport Ss limltad to those spe¢iflc mallers set out in the independent examSner's $tOtem8nl. Page 7
THE PARACHUTE REGIMENTAL ASSOCIATION INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Indap•ndant Examln•rfs Statgm?nt I have completed rny examlnalion. I conflrrn that no matters have comè to my attenOn In connedorb with the &xamlnatlon giving me cause to believe that in any rn818ri81 r8spect'. accounting records were not kept in raspecl of the Charfjly as requlred by section 130 of th8 2011 Ael.. or the accounts do not accord with those records., or the accounts do nol comply with the appllcable requirements concerning the fomi and conlenl of ccounls sel out in the Charities (Accounts and Rgport81 Regulations 2008 other Ihgn any roquiiemenl that tho accounts glve a 'true and fair, view whh 18 riot a rnattèr consid8red as part ol an Ind8p8ndenl examlnallon. I have no conc8rns and hava com8 across no other mattars In connectSon with the exarnination io which attention should be drawn in Ihl8 report In order Io gnable a proper under3landlng ol the accounts to be reached. Slgn8d.' D8ted.. 7 August 2028 Pl•r8 Harrlson FCA Scrullon Bland Limited 820 Tha Crescenl olchesler Buslne88 Park Colch8Ster E55ex C04 9YQ Page 8
THE PARACHUTE REGIMENTAL ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Unrg$trlcted fund 2025 Total funds 2025 Total funds 2024 Noto In¢om• from: Don81ions and18gacies Investments Olhgr incomo 120.042 29.682 60 120,042 29,682 57.887 28.353 120 Total In¢om• 149,784 149,784 84.360 Expendlture on.. Raisirig funds Charitable a¢livhl#s'. Other charflab18 actlvllles Olhgr Oxpèndllure 6,514 6,514 6,222 91.306 2,168 91,306 2,168 82,717 8,022 Total expendltur• 99,988 99,988 96.961 Net Incomellexpondltur•l b•for• not y8ln$ on Investmont8 Not galn8 on inve8tmen18 49,796 68,779 49,796 68,779 112.6011 31,124 Not movgmgnl In fund$ 118,575 118,575 18,523 R•conclllatlon of funds: Total funds brought forward N8t mov8ment In funds 845,820 118,575 845,820 118,575 827,297 18,523 Tolal funds carrlad forward 964,395 964,395 845,820 All lundB are unrestricted. Al income expèndlra dèrfve from conlhiulng aclivltles. Thg Slalèment of Financial Activities includes all galns and losses re¢ognised in the year. The notes on pages 1110 24 lorrn part of thesè financlol slatemenl6. Page 9
THE PARACHUTE REGIMENTAL ASSOCIATION BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Not8 Flx•d a$s•t$ Tanglble assets Investments 10 1,207 886.730 1.089 816.178 887.937 817,267 Curr*nt a$¥ets Sto¢k9 Dgblors Inv$$tm$nts Cash al bank gnd In hand 12 24 11,127 13 14 11,254 36,712 33,561 23,B29 81.527 34,980 Current IlabSlltl88 Credilors.. amounts lalllng dut wllhin ono year 15 15,069} {6,427 N•t curr•nt as8•t8 76,458 28.553 Total a8••t• l•$• ¢urr•nt 114bllStlo8 964,395 845,820 Total n•t a88•ts 964,39S 845,820 Charlty fund8 Unreslricled fvnds 16 964,395 845,820 Total funds 964.395 845.820 Tho financial statemenls were approved and aulhorised for issue by the Trustees and $Sgn¢d on their behalf by.. Lloutonant Colonel L. Cradden M8E Twslee Data.. The notes on pages 1110 24 form part of these financial slalements. Page 10
THE PARACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollcles 1,1 Basls of preparatlon of financlal statements The financial statements of the charity, hav8 bè8n prèp8rad in accordance with the Chariues SORP IFRS 1021- Accounling and Reporting by Charities.. Stalernenl of Recommended PRctice applicable to charilbes preparing their aeeounts In accordanca with tha Financial Reporting Standard appli¢able in the UK and Republic of Ireland IFRS 1021 leffeclivo 1 January 20191. the Financial Rgportin Sl&ndard applicabl8 in the UK and Republic Of Ireland IFRS 10218nd the Charitles Act 2011. Th8 financial slalements have been prepartrd to giv$ a 'truo and falr. view and have departed frorn thè Charities (Accounts and Reports) Regulatsons 2008 only lo th¢ extent required to provide a 'lrue 8nd falrf vlew. Thls dèparture has involved following the Charilbes SORP IFRS 102} publlshad In October 2019 rather than the Accountlng and Reportlng by Charflles.. Statement of Recomm8nd8d Practice effecilve from 1 April 2005 which has sincè been wllhérawn. The The Parachute Reglmental Asso¢latlon Charlly meets the d8finition of 8 publlc bengfil entlly under FRS 102. Assets and Ilabilllles are initially rgcognls8d at hSstorlcal cost with Ihe exception of nveslmenls whl¢h aro Included 81 market valu8, aB modifled by the revalu8tion ol certain assets. Th8 Charity conslllutes a publlc benefit entity as deiln8d by FRS 102. Th8 ffnan¢l31 statements Includé all Iransactlons. assgts and Ilabililles for whlch the Charlty 18 responsible lor by law. The Charltls functlon81 and pr8sèntgtlDnal currery Is GBP. The IlnanciBI slat8menls ara rounded to the neare81 £1 and ara preparod In steding. 1.2 Golng concern After revlèwlng th8 Ch8rfty's forecasts and projectlons, the TTu81e88 have a roasonablg axpectatlon Ihal il has adequate re$our¢es lo conllnua In opfrrational gxlstence for the foresgeabla luturÉ, b8lng abl8 to meet all liab5111ies as they fall due. The enlily Iheieforg Gontifiues lo adopl the going concern basls In preparing Its finan¢lal statetments. In formlng thelr vlew that the Charity 15 a going eoncern, the Trust8ès hava also considered the ¢l¢sing poslllon of the Chartty al 31 December 2025, which demonBlrates fÈcttsrs such as strong levels of unrestricted tuncss and cash and cash equivalenls. Pag8 11
THE PARACHLITE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Ae¢ountlng poll¢le$ Icontlnued 1.3 Income All incom@ is rècognis8d onca th8 Charity has éntitlèmènt to the incoma, it is probable that the incorne wi51 be received and the amount of income rec6ivable can bo m98sured liably. Tha recognition of income from lègaclès Is dèpandant on èstablishing entitlement, the probability of receipt and the ability lo eslimBle with sufficient accuracy the amount rec8ivablg. Evldence of éntillemenl to a legacy exists when the Charity has sufficient evidence that a glft has been laft lo them (through knowl8dge of th6 èxlstencè of a valid will and the death of the benefaclorl and the executor Is s811sfied that the property In question will not b¢ requlred lo sallsfy ¢laims In the e$tate. Receipt of a legacy must be iecognised when it is probable thai li wlll bè received and the falr valuo ol the amount re¢elvable, whlch will generally be the expe¢te¢J ¢ash amount lo be dlslrSbuted lo the Charlly, Can bg r8llably mgasured. Grants are Included In the Slalement ol Flnancial Aclivllles on a receivable ba51s. The balance of Income re¢elvod for spe¢lfic purpose$ bul not gxp¢ndga durlng the perlod Is shown in the relevant lund$ on the Balance She81. Where income is rec81v8d In advan¢9 of 8ntitlern&nt of rec81pl, its recognllion is deferred and included in creditOf8 as deferred Income. Where enllll8menl occurs b8foro Incoma19 recelved, the Incomg 1$ gccrued. 1.4 Exp•ndlture Exp8ndilur81# recognised once there 18 81gg81 or constructiv• oblig8tion to IrBnsl8r èconomlc bangfil tts a thSrd party, il Is probable that a transfer of economlc benefits will be qUIred In settlement and the amount of the obllgation can b8 m8asured roliably. Expenditurels classified by actlvlly. The costs of 08ch a¢llvlly are made up of the lot81 of dlrecl ¢¢>sls and sh8r$d costs. Inoludlng 5UPPQrt costs Invofved in undertaking each aclivlty. Dlrecl costs altrfbutable lo a single acllvily 8re 8lloc8led direclty to Ihal actlvlly. Shared costs whSch contrlbute to more than on& aotivily and support coslB which ar8 not attrlbulablo 10 8 slngle actlvlty 8re apportloned betwoen those acllvlllgs on a b8915 conslslent wlth the use of resour5. Expendllur¢3 on ralslng fund5 Includes all expendlluro Incurred by the Charlty to ralse furlds for Sts charitable purposes and includes costs ol all fundraising aclivili8s 8venl8 and non-charilablo Iradln9. Expendllurg on charitable 8Ctlvllles 18 Incuired on dlreclty undertaklng th& activllles whlch further th& Charity's objeclives, as well as any a550cialed support C08ts. Grants payable are Charged in the year when the offer 18 made oxcepl in th08¢ ¢as¢s whgre Ihg offgr is condilional, such grants belng recognised as expenditure when the conditions attaching arg fulfilled. Grants offered subj1 to conditlons which have not been met at the year end are noled as cotntnilmenl, bul not accrued as expenditure. 1.5 Donated sgrvlc•$ Donated seIe5 and facllltles represent costs borne by the Mlnlslry of Defence in connection with laff soronded without charge, rale or other offic& oxpen¥. 1.6 Interest r8c•lvablè Interest on funds held on deposlt is included when re1vable and the amount can b8 measuied Ilably by th¢ Charity,. thi5 is norfflally upon ngtifi¢atitsn of the inlwest paid or payable by the institution with whom the furnls are deposited. Page 12
THE PARACHUTE REGIMENTAL AS80CIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2025 Accountlng pollcleB Icontlnuedl 1.7 Tangible lixed assets and depreciation Tanglble ilx&d assets are Snlllally recognlsed at cost. After recognition, undèr the $1 mt)d81. tangible fixed assets are measured al cost less accumulated depieciation and any accumulated impairm&nl lossos. All costs Incurred to brlng a tangiblè fixed asset into ils intÈndèd working condition should be In¢ded In the m¢a8urement ol Cost. Deprecialion is charged so as lo allocate the cost ol tangible fixed assets 18SS their residual value over Iheli e811mal$d usoful Ilve$, Dapreclatlon is provldgd on tho following basls- Computer equlpmenl Str81ghl Ilne over 3 1.8 Flx•d assèt Inv¢stmont$ Flxad asBet Investments are a form of financial in8lrumenl and or& InS1ially r8cognls8d 81 Iheir IransBclSon cost and subsequonlly measured al lair valu8 al the Balance Shèet dalè, unless tho vBIu8 eannol be rne8sured ll8bty whlch case It Is measured at C051 less Imp8irment. Invèstmènt galns and losses, whether reallsed unrealised, aro combined 8nd pr888nl8d a8 'GaSnsllLo88esl on Inv&slmenl$' In the Ststsment of Financial Activitie8. 1.9 Current asset Investmgnl8 Cash and cash &quiv8lonls comprlso cgsh hald In term depo8115. Tèrm deposlts are deflned 08 deposits with an ini1181 malurtly of more than Ihreg months. 1.10 Taxatlon The Charity is considered to pass the lests sel out in Paragraph 1 Sohedule 6 of the Flnan¢e Act 2010 and thgraforè it maats th& dèfinltSon of a charftable cornpany for UK corporation tax purposes. Accordingly, tho Charity is potentially exémpt from taxation In respect of Income or ¢aplt81 gains received within categories covered by Chapter 3 Part 11 01 the Corporallon Tax Act 2010 or Section 256 01 th8 Taxation of Charg8abl8 Galns Act 1992. to the exlanl that such incoma or 98ins ar8 applied exclusively lo charitable purposes. 1.11 Debtors Tradè and other d8btors am rècognisad at th8 settlement amount after any trade dlscounl offered. Prepaympnls are valued at th8 amount prÈpaid n8t of any trade dlscounl8 due. 1.12 Cash 8t bank and In hand Cash al bank and in hand includes cash and short-lerm hlghly Ilquld1nveslments with a short maturity of threé months or less from thè d8tÈ of acquisition or openlng of the deposit or slmllar account. Page 13
THE PAIiACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 A¢¢ountlng pollrles Irontlnu8dl 1.13 Creditors Cr8ditors Bra r&cognis8d whon there is an oblbgatlon al Ihg Balan¢e Sheet dale as a reBult of a past event, il is probab18 that a Ir8nsl8r ol economic benefit will be required In s8tll&menl. and tho amount of the settlement can be ests'maled rèliably. Creditor5 are reeognised al the amounl that the Charity anliclpales11 wlll pay to sèll18 the debt or the amounl it has received as advanced payments lor Ihe goods or 6ervic88 It rnust provide. Page 14
THE PARACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollclès Icontinuodl 1.14 Flnanclal Instruments The Company has eleclod lo apply tha provisions of Section 11 'Baslc Flnandal In9truments' of FRS 102 lo all of Ils financial inslrumenls. The Company has ele¢tttd to 8PPty thè r&cognition and rneasuremenl prov15Ions ol IFRS 9 Financial Inslruments18s adopted by Ihe UK Endorsem8nl Board} wllh the disclosure requirem8nls of Sections 11 Ané 12 and the Other près8ntgtion requirements of FRS 102. Flnancial inslrumentB are recognised In the Companls Balanca Sheet when the Cornpany becom8S party lo the conlr8¢tual provlsions of the Instrument. Financial assets and Ilabllilles are offset, with the net amounts presented in the financial statements, when Ih¢ré is a legally enforceable rtght to 591 off Ihg r&cognlsed amounts and there Is an Inltrnllon lo sttllle on a nel basis or lo r&allse the asset and settle the Ilabillty 3imullan8ously. 84$lc financlal ass•ts Baslc tlnancl81 assets, whlch Includg trgde and other dgblors, cash and bank balon¢g9. are Inltlally moa$ured at their transaction price {adluBled for Ir3n8aotion cosis 8xcepl in thè ini1181 mea8ur&menl of financi81 o$sets that are subsequently measured at lair value through profil and loss) and ar6 subsequently carrled al Ihoir arnorti8ed eosl uslng Ih@ effective Inlefy81 method, less any provislon for Impaifment, unl886 the arrangement constitutès 8 linandng Iransacllon, where Ihg Iransacllgn IS m&8$ured at the prèsanl valua of tho future recelpts dlscounled al a market rate of Inleresl. Discounting is omllted where the effect of dlscounttng is Immaterial. Thè Company'g cash and cash 8guival8nts, trade and mosl oth8r debtors due wlth the oper8llng cycle fall into thi8 category of financial inslrumenls. Other flnanelal as$èt8 Other financial as$elS, whlch Sncludes Investm¢nts In equlty instruments which ara not cLqssifled as subsidiarlès. assoclates or joint ventures, are initially mea8urod at fair value. which is norm811y the recognised transaction prfce. Such assets are subsequ8nlly measured at fair valuè wrth the changes in fair value being recogn15ed in the profil or loss. Where other financial assèts are nol publlcly tradèd, hÈnc8 Ihalr falr value ¢annot be measured reliably, thoy arè measured al cost less impairment. Impairment of flnan¢lal a$¥•ts Flnonc1818ssets are assessed for indlcalor8 of impairrnenl at &g¢h reporting dele. Financial asse15 are impaired when events, subsequent to their initial recognltSon. indicate the èstimated future cash flows derlved from the financial assetlsl have been 8dversely Impacted. The Impalrmenl loss wlll be the dlfferen¢e belween the current carrying amount and the present value of the futLsre cash fiows al the assellsl original effoctivo intsrest rate. 11 there is a favourable change In relation to Ihe events surrounding the irnp8irment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrwng amount lo exceed the original carrying amount had the irnpaimiènt not baen recognised. The impairment reversal 15 recognised in the prDlil or loss. Page15
THE PARACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2025 Accountlng poll¢l•$ l¢ontlnu¢dl 1.14 Financial instrument¥ Icontinu?dl Flnanclal Ilabllltl•s Financial liabilities and equity inslrumenls arg classifièd according lo the substancè ol thè conlraclual arrangements entered Into. An equlty instrument is any Cortlracl that evldence$ a resldual Intere51 In the as8els ol the Company 8fter the deduction ol all ils liabilities. Basle financial liabllS1ies. which include trade and other ¢r#dilors, bank loans and other loans are In1118lly tlle88LJf8d at Ihè5r tr8n98elion price ladjusling for Iian5&¢11tsn costs ex¢ept In the initial measurement of financial liabilities thèl are subs6quonlly measured at fair value through profll and ltsssl. Wh8n this constitutes a financing Iran5actson, wherèby the debt instrument Is measured al the present V8lug of Ihè futur8 pBymants discounted at a mark81 rat8 of Inler&st, ijlscountlng Is omlllod where the effect of dlscounllng Is Immal8rlal. Dgbl Inslrumgnls are Subsgquenlly ¢arried al th8lr amortlsed cost Uglng tha eflgctive Inter881 rale rnelhod. Trado crsdltors ar¢ obllgatlon$ tg pay for goods and servlces that have beèn acqulrad In the ordlnary course of buslnes8 from suppller8. Trade ¢rodilofs 8r6 classifled as current liabilillgs if the payment is due within one year. If not, they r8wesenl non-current liabillll8s. Trad6 creditors are Inlllally re¢o9nlsed at their Iransacllon prlce end sub59quenlly are measurèd 8t omortlsed cost using thè trffeclivg interg81 method. 01gcourillng is omittèd wher8 th8 offect of di8UntINg Is Immat¢rlg1. Oerecoonltlon of flnanclal a88Ots Financial assets are derecognlsed when th8ir conlr8elual rlght to lulure cash now 8xplr&, or ar8 sèttled. or when Ihè Company Iranslers the a5sel ancl subsl8nllally all the rlsks and reward8 01 ownership to anoth8r party. If slgnlflcant risks and iewards of ownershlp oro retalned after the Iransler lo another party, then the Company wlll conllnuo lo recognise the value of the portion of thè rlsks and r&wards retaSned. Dorecognltlon of flnanclal Ilabllltles Finèneial liabilities are derecognlsed when the Company'5 ¢ontraclual obligstions explre or are dlscharged or cancelled. 1.15 Fund accounting Gènèral fkjnds Brè unrèslrlct8d funds which are available for use at the cliscretion of the Trustees In furtherance of the general oblecllves of Ihe Charlly and whlch have not been degignat8d for other purposes. Page 16
THE PARACHUTE REGIMENTAL PSSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Incom? from donations and1oga¢itrs 2025 2D24 DonalSon8 Legacies Grants 74,901 34,032 11,109 57.828 59 120,042 57,887 All Income from other Iradlng 8Ctlvlll8s In Ihe ¢urrenl and prfor yèar fe1818s lo unrestrlcled fLtnds. Othor tradlng •¢tlvlll•• 2025 2024 Stock salo8 120 120 Al IncDmg from othor Iradln9 actlvlll&8 In the current and prlor year mlalgs tc* unrestrlcled funds. Inv•stm•nt Incorn• 202S 2024 Dlvld¢nd Income from Ilsled Snvestments Bank intèrèst Income 28,985 697 2fj,353 29,682 26,353 A15 Inv8simènt Incom8 In the currant and prfor yaar relates lo unreslricled fund8. Invgstment managèm?rtl ¢o$t$ Unrestrlcted funds 2025 Total funds 2025 Investment portfolS0 management fees 6,490 6,490 Page 17
THE PARACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Invo$tmgnt managernent costs lcontinugd) Unr8slrlcled funds 2024 Total funds 2024 Inv881mgnl portfollo man8gemenl fees 6,222 6,222 Analysls of expendlture by actlvltltss Actlvllles Grant und•rtakan funding to dirèctly In8tltutlons 2025 1025 Support costs 2025 Total funds 2025 Promoting the efflcienGy of the Paraehul8 Reglmenl and Airborn8 Forc8S 69,741 11.773 9,792 91.306 Activities undertaken dlreclly 2024 Grant fundlng lo Institullons 2024 Support costs 2024 Total funds 2024 Promoting the effiGi8ncy of the Parachute Regiment and Airbarne ForcBs 66,301 7,707 8,709 82.717 Analysls of dlrèct costs Page 18
THE PARACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Analysis of gxpenditur• by activities l¢ontlnu&dl Analysls of dlrèct costs Icontlnuèdl Total funds 2025 Total funds 2024 Staff costs Advertising Bank charges Computer and Inlernel axpgns8$ Computer d8precl8llon charge Sundrles Insuranca expanse N•wslottar printlng and sl8tlonary Fleglonal expgndllurg.. Mldlan(J8 Raglonal expenditur•'. YorkshSr8 Event co$18 National Secrelarls Expense Travel and m99tlng8 SS,893 209 B1 2,130 875 1,080 6,142 1,203 51.194 199 108 1.684 896 964 4,S89 1.46B 2,40S 1,879 682 1,994 670 14 450 233 69.741 66,301 alysls ot support cost8 Total funds 2025 Total funds 2024 Independent examiner's remunefallon Commiltee meeting exp8nses 1.500 8.292 1,620 7,089 9,792 8.709 Page 19
THE PARACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Indèp•nd•rtt èxamlnèr's r•mun•ration 2025 2f124 Fees payable to the Charitys indep8ndenl exarnlner for th* ind8pond6nl examlnalion of the Charltls annual account8 1.500 1,620 Tru$t••s' remunèratlon and •xp•ns•B Durlng the year, no Trustees re¢elved 8ny remunerallon or oth8r b8neflts12024 - £NILI. Durlng the year endei131 Decemb&r 2025, no TTUSteÈ expèns88 have been Incurrod12024 - £NILI. Staff ¢o•ts 2025 2024 Wage5 and salarie8 55,893 51.194 55,893 51.194 The overage number of per8on8 employed by the Charity durin9 the year was as follows.. 2025 No. 2024 No. Management ond admlnl$lro1ion No èmploy88 rec8lv8d remuneratlon amountlng lo more than £60,000 In elther year. Thg post of Veterans Officer is considered to be key management personnel, although thè post Is lund8d by thè MOD. The total èmploy&8 beneflls for this post were £38,19612024.. £36,596). Page 20
THE PARACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 10. Tanglble flxed assets Computer equlpment Co$t or valuatlan Al l January 2025 Additions 5.772 993 Al 31 December 2025 6,765 O•pr•elatlon Al 1 January 2025 Chargo for the yeor 4,883 875 Al 31 Decernber 2025 5.558 Net book v?lu• Al 31 DeceMr 2025 1,207 Al 31 De¢ombor 2024 1,089 Page 21
THE PARACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 11. Fixed asset inve5tment5 Listed Invastm•nts Cost or valuatlon At l January 2025 Additions Disposals Revaluations 816.177 209,679 {197,6841 58,558 At 31 December 2025 886,730 N•t book value Al 31 December 2025 886.730 At 31 December 2024 816,177 12. Stocks 2025 2024 Fln15hed goods and goods for resale 24 13. Debtors 2025 2024 Dua within on• y•8r Midlands reglon North-wèst règion Yorkshire region Olhef debtors Prepayrnenls 2,874 1,406 3,727 1,065 2.092 3,478 1,496 3,286 1,142 1,725 11,254 11.127 Page 22
THE PARACHUTE REGIMENTAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 14. Current ass•t investments 2025 2024 Terrn d8posils malurlng in more than thre8 months 36,712 15. Cr¢dltors'. Am¢unt$ f#lllng due wlthln ong ygar 2025 2024 Taxation and soclal security Other credlloTS Accruals and deferred income 262 4,747 60 287 6,140 S,069 6,427 18. st&t•m•nt of fund$ ststom•nt of fund$ . ¢urr¢nt y•ar 8alanco at 31 Galnsl December (Losses) 2025 B8lan¢• at I January 2025 Incom8 Expondltur• Unr•strlct•d funds General charitable acllvllej 845,820 149,784 199,9881 68.779 964,395 Stalemgnt of funds- prlor y•ar B81ance at 31 December 2024 Balaneè 81 1 January 2024 Galnsl ILos3esl Income Expendllure Unr•strlct8d funds General charitable activities 827,297 84,360 196.961) 31.124 845,820 Pa9e 23
THE PAPACHUTE REGIMENTAL ASSOCJATION INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2025 2024 2024 Incomè Legacles and donatlgns Subscriptions Donated seNlce$ and faclllttes Yorkshire rggion LegaGles Grants Stock sales Dlvldgnd Income Inl&re81 Income 38,864 6,865 26,737 2,435 34,032 11,109 60 28,985 697 12,279 6,375 38.825 408 120 26,353 149,784 84,360 Galns on Inv•$tment$ Re8lls8d and unrealis¢d 9oln$ on Ilxod ¥88?t investments 68,779 31,124 68.779 31.124 Gross Income In tho r•portlng p•rlod 218,583 115,484 L•98: Support costB Accountsnw and leg81 lees Committee meetlng expense8 1,500 8,292 1,620 7,089 9,792 8,709 Page 25 Thls pag8 doos not form part of the slatulory financial slalements
THE PARACHUTE REGIMENTAL ASSOCIATION INCOME AND EXPENDITURE ACCOUNT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER2025 2025 2025 2024 2024 Charltable actlvltles Wages Idona18d $8rvic88 includ8dl Yorkshire region expensès Midland region expense Event cos18 Newsleller printing and slalionery Adverkn'sing Computer expenses Insurance Sundries 8ank charges 08preciatSon Commemorallons Grant$ Portfolio mana9&rnent North-west ¥eglon exp&ns88 Purchase Df Stock 55,893 1,094 51,194 1,879 2,405 632 1,468 199 1,684 4,589 1,197 670 1,203 209 2,107 5,142 1,648 875 2,168 11,773 e,490 8,022 7,707 6,222 50 24 90,198 88,252 Total expendltur• 99,988 96,961 18.523 Net In¢omellexpendllurel for th¢ roportlng parfod Surplus brought forward at 1 January 2025 118,575 18,523 The notes on pages 11 to 24 form part of these financ¢al 8lalem8nts. Pag8 26 This pag8 does not forni part of the slatutory flnan¢ial stalemenls