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|**Council Members**|Rear Admiral A R Rymer CEng||
|---|---|---|
||(Chairman)||
||Colonel C E H Ackroyd TDRDDL||
||(Vice Chairman)||
||MrA J Cobb FCiH||
||Commander A E MizenRN||
||Mrs A C Rodgers FCA||
||Commander J F J SimpsonRN||
||Commander S J SnowballRN||
||Mr I H Currie FCA||
||Mr D J Foster FCA||
||MrSD Rice|(Appointed 2 February 2022)|
|**Chief Executive Officer**|Commander P C KeefeRN||
|**Secretary**|Commander P C KeefeRN||
|**Charity number**|226684||
|**Company number**|00034118||
|**Principal address**|1 Shakespeare Terrace||
||126 High Street||
||Portsmouth||
||Hampshire||
||P012RH||
|**Registered office**|1 Shakespeare Terrace||
||126 High Street||
||Portsmouth||
||Hampshire||
||P012RH||
|**Auditor**|Jones Avens Limited||
||Piper House||
||4 Dukes Court||
||Bognar Road||
||Chichester||
||West Sussex||
||P0198FX||
|**Bankers**|Lloyds Bank Pic||
||113 Commercial Road||
||Portsmouth||
||Hampshire||
||P01 1BY||





## 



||**Page**|
|---|---|
|Council Members' report|1 - 7|
|StatementofCouncil members' responsibilities|8|
|Independent auditor's report|9- 12|
|Statementoffinancial activities|13|
|Balance sheet|14|
|Statementofcash flows|15|
|Notes to the financial statements|16-29|





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6 April 2022 



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|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
||**Notes**|£|£|
|**Income and endowments from:**||||
|Voluntary income|3|65,380|55,710|
|Charitable activities|**5**|410,106|558,331|
|Investments|**4**|101,509|99,527|
|Other income|**6**|93,473|92,448|
|**Total income**||670,468|806,016|
|**Expenditure on:**||||
|Raising funds|**7**|7,813|6,156|
|Charitable activities|8|776,076|973,861|
|Other|**13**|794||
|**Total resources expended**||784,683|980,017|
|**Net operating deficit**||(114,215)|(174,001)|
|Net gains/(losses)oninvestments|**14**|308,631|115,471|
|**Net incoming/(outgoing) resources**||194,416|(58,530)|
|**Other recognised gains and losses**||||
|Other gains or losses|**16**|(16,514)|11'716|
|**Net movementinfunds**||177,902|(46,814)|
|Fund balances at 1 January||3,608,701|3,655,117|
|**Fund balances at31December**||3,786,603|3,608,303|





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|**Notes**<br>**Fixed assets**<br>Tangible assets<br>**17**<br>Investments<br>**18**<br>**Current assets**<br>Stocks<br>**19**<br>Debtors<br>**21**<br>Cash at bank andinhand<br>**Creditors: amounts falling due within**<br>**oneyear**<br>**22**<br>Net current assets<br>**Total assets less current liabilities**<br>**Income funds**<br>Unrestricted funds<br>Designated funds<br>**24**|**2021**<br>£<br>£<br>59,375<br>3,280,429<br>3,339,804<br>65,094<br>32,185<br>425,742<br>523,021<br>(76,222)<br>446,799<br>3,786,603<br>3,786,603<br>3,786,603<br>3,786,603|**2020**<br>£<br>£<br>82,553<br>3,005,496<br>3,088,049<br>130,278<br>49,638<br>436,978<br>616,894<br>(96,640)<br>520,254<br>3,608,303<br>3,608,303<br>3,608,303<br>3,608,303|**2020**<br>£<br>£<br>82,553<br>3,005,496<br>3,088,049<br>130,278<br>49,638<br>436,978<br>616,894<br>(96,640)<br>520,254<br>3,608,303<br>3,608,303<br>3,608,303<br>3,608,303|
|---|---|---|---|
||||3,088,049<br>520,254|
||||3,608,303|
||||3,608,303|
||||3,608,303|




## 



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|2021<br>Notes<br>£<br>Cashflowsfromoperatingactivities<br>Cash absorbed by operations<br>27<br>Investingactivities<br>Purchaseoftangible fixed assets<br>(1,343)<br>Proceeds on disposaloftangible fixed<br>assets<br>3,611<br>Repaymentofinvestment loans and<br>receivables<br>Purchaseofinvestments<br>(49,362)<br>Proceedsondisposalofinvestments<br>83,060<br>Investment income<br>101,509<br>Netcashgeneratedfrominvesting<br>activities<br>Netcashusedinfinancingactivities<br>Net(decrease)lincreasein cash andcash<br>equivalents<br>Cash and cash equivalents at beginningofyear<br>Effectofforeign exchange rates<br>Cashandcashequivalentsatendofyear|<br>2020<br>£<br>£<br>(143,753)<br>(10,015)<br>247<br>284,125<br>(40,000)<br>77,864<br>99,527<br>137,475<br>(6,278)<br>436,978<br>(4,958)<br>425,742|<br>£<br>(271,134)<br>411,748|
|---|---|---|
|||140,614<br>299,226<br>(2,862)|
|||436,978|





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||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||£|£|
|Donations and gifts|376|198|
|Government grants|65,004|55,512|
||65,380|55,710|
|**Government grants received**|||
|Coronavirus Job Retention Scheme grant|40,868|51,532|
|Discretionary Covid-19 grants|24,136|3,980|
||65,004|55,512|





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||Unrestricted|Unrestricted|
|---|---|---|
||funds|funds|
||2021|2020|
||£|£|
|Income from listed investments|101,347|96,166|
|Interest receivable|162|3,361|
||101,509|99,527|



## 

||SupportingHM|<br>Centresin|TotaiSupportingHM|TotaiSupportingHM|<br>Centresin|Total|
|---|---|---|---|---|---|---|
||Forcesinthe|<br>Cyprus|2021|Forcesinthe|<br>Cyprus|2020|
||UKand|supportingHM||UKand|supportingHM||
||overseas|<br>Forces||overseas|<br>Forces||
|||overseas|||overseas||
||2021|2021||2020|<br>2020||
||£|<br>£|£|£|<br>£|£|
|Sales within charitable|||||||
|activities|112,010|<br>297,234|409,244|91,939|<br>452,940|544,879|
|Other income|397|<br>465|862|8,476|<br>4,976|13,452|
||112,407|<br>297,699|410,106|100,415|<br>457,916|558,331|



## 

||Unrestricted|Unrestricted|
|---|---|---|
||funds|funds|
||2021|2020|
||£|£|
|Net gain on disposal of tangible fixed assets||247|
|Management fees and office rent|93,473|92,201|
||93,473|92,448|





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|Investment management<br>**Charitable activities**<br>Staff costs<br>Depreciation and<br>impairment<br>Costofsupplies<br>Operating costs<br>Grant funding of activities<br>(see note 10)<br>Shareofsupport costs<br>(see note9)<br>Shareofgovernance costs<br>(see note 9)|**Supporting**<br>**Centresin**<br>**HM Forces**<br>**Cyprus**<br>**inthe UK supporting**<br>**and HM Forces**<br>**overseas**<br>**overseas**<br>**2021**<br>**2021**<br>£<br>£<br>144,198<br>139,664<br>3,288<br>12,167<br>38,422<br>172,592<br>31,578<br>70,537<br>217,486<br>394,960<br>11<br>86,350<br>47,461<br> <br>12,520<br>17,288<br>316,356<br>459,720|**Supporting**<br>**Centresin**<br>**HM Forces**<br>**Cyprus**<br>**inthe UK supporting**<br>**and HM Forces**<br>**overseas**<br>**overseas**<br>**2021**<br>**2021**<br>£<br>£<br>144,198<br>139,664<br>3,288<br>12,167<br>38,422<br>172,592<br>31,578<br>70,537<br>217,486<br>394,960<br>11<br>86,350<br>47,461<br> <br>12,520<br>17,288<br>316,356<br>459,720|**Total Supporting**<br>**2021HM Forces**<br>**inthe UK**<br>**and**<br>**overseas**<br>**2020**<br>£<br>£<br>283,862<br>142,002<br>15,455<br>4,754<br>211,014<br>34,233<br>102,115<br>32,252<br>612,446<br>213,241<br>11<br>133,811<br>86,233<br>29,808<br>12,193<br>776,076<br>311,667<br>**2021**<br>£<br>7,813<br>7,813<br>**Centresin**<br>**Cyprus**<br>**supporting**<br>**HM Forces**<br>**overseas**<br>**2020**<br>£<br>216,604<br>14,260<br>222,235<br>143,870<br>596,969<br>55<br>48,332<br>16,838<br>662,194|**2020**<br>£<br>6,156<br>6,156<br>**Total**<br>**2020**<br>£<br>358,606<br>19,014<br>256,468<br>176,122<br>810,210<br>55<br>134,565<br>29,031<br>973,861|
|---|---|---|---|---|
|||217,486<br>86,350<br>12,520<br>316,356|||



## 



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|**9**<br>**Support costs**<br>Staff costs<br>Depreciation<br>Head office costs<br>Audit fees<br>Legal and professional<br>Committee costs and<br>expenses<br>Analysed between<br>Charitable activities||**Support Governance**<br>**costs**<br>**costs**<br>£<br>£<br>116,397<br>22,171<br>202<br>38<br>17,212<br>3,970<br>3,063<br>566<br>133,811<br>29,808<br>133,811<br>29,808|**2021**<br>£<br>138,568<br>240<br>17,212<br>3,970<br>3,063<br>566<br>163,619<br>163,619|Support Governance<br>costs<br>costs<br>£<br>£<br>114,720<br>21,852<br>202<br>38<br>19,643<br>3,871<br>2,863<br>407<br>134,565<br>29,031<br>134,565<br>29,031|2020<br>£<br>136,572<br>240<br>19,643<br>3,871<br>2,863<br>407|
|---|---|---|---|---|---|
||||||163,596<br>163,596|
|||||||



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|Full time (UK&Fl)<br>Part time (UK&Fl)<br>Full time (Cyprus)<br>Part time (Cyprus)<br>**Employment costs**<br>Wages and salaries<br>Social security costs<br>Other pension costs|**2021**<br>**Number**<br>4<br>8<br>3<br>14<br>29<br>**2021**<br>£<br>388,284<br>19,913<br>14,233<br>422,430|**2020**<br>**Number**<br>3<br>7<br>5<br>17<br>32<br>**2020**<br>£<br>457,100<br>23,916<br>14,162<br>495,178|
|---|---|---|



## 

||2021|2020|
|---|---|---|
|CESSAC Emoluments|£37,113|<br>£37,113|
|Association Emoluments|£37,113|<br>£37,113|
|Total Emoluments|£74,226|<br>£74,226|
|CESSACpension contribution|£3,711|£3,711|
|Associationpension contribution|£3,711|£3,711|
|Totalpension contributions|£7,422|<br>£7,422|





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|Net loss on disposaloftangible fixed assets<br>**Unrestricted**<br>**funds**<br>**2021**<br>794<br>794|Total<br>£<br>2020|
|---|---|



## 

|Revaluationofinvestments<br>Gain/(loss)onsale of investments<br>**Unrestricted**<br>**funds**<br>**2021**<br>£<br>304,783<br>3,848<br>308,631|Unrestricted<br> <br>funds<br> <br>2020<br> <br>£<br> <br>125,026<br> <br>(9,555)|
|---|---|
||<br>115,471|



## 

## 

|**Other gains or losses**|||
|---|---|---|
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2021**|2020|
||£|£|
|Foreign exchange (losses)/gains|(16,514)|11,716|





## 

|17<br>Tangiblefixedassets<br>Cost<br>At 1 January 2021<br>Additions<br>Disposals<br>Exchange adjustments<br>At31December 2021<br>Depreciationandimpairment<br>At 1 January 2021<br>Depreciation chargedinthe year<br>Eliminatedinrespect of disposals<br>Exchange adjustments<br>At31December 2021<br>Carryingamount<br>At31December 2021<br>At31December 2020||Landand<br>Leasehold<br>buildings<br>properties<br>£<br>£<br>12,000<br>959,378<br>(637,229)<br>(69,077)<br>12,000<br>253,072<br>4,320<br>951,957<br>240<br>3,168<br>(637,228)<br>(68,543)<br>4,560<br>249,354<br>7,440<br>3,718<br>7,680<br>7,421|Furniture,<br>fittings&<br>equipment<br>£<br>663,361<br>1,343<br>(453,392)<br>(42,865)<br>168,447<br>597,909<br>11,487<br>(448,988)<br>(38,978)<br>121,430<br>47,017<br>65,452|Vehicles<br>Total<br>£<br>£<br>48,491<br>1,683,230<br>1,343<br>(11,620)<br>(1'102,241)<br>(3,203)<br>(115, 145)<br>33,668<br>467,187<br>46,491<br>1,600,677<br>800<br>15,695<br>(11,620)<br>(1,097,836)<br>(3,203)<br>(110,724)<br>32,468<br>407,812<br>1,200<br>59,375<br>2,000<br>82,553|
|---|---|---|---|---|
||||||
||||||
||||||
||||||





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||**Listed**|
|---|---|
||**investments**|
||£|
|**Costorvaluation**||
|At 1 January 2021|3,005,496|
|Additions|49,362|
|Valuation changes|304,783|
|Disposals|(79,212)|
|At31December 2021|3,280,429|
|**Carrying amount**||
|At31December 2021|3,280,429|
|At31December 2020|3,005,496|



## 

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|**19**<br>**Stocks**||
|---|---|
|**20**<br>**21**<br>**2021**<br>£<br>Finished goods and goods for resale<br>65,094<br>**Financial instruments**<br>**2021**<br>£<br>**Carrying amountoffinancial assets**<br>Instruments measured at fair value through profit or loss<br>3,280,429<br>**Debtors**<br>**2021**<br>**Amounts falling due within one year:**<br>£<br>Trade debtors<br>600<br>Other debtors<br>2,625<br>Prepayments and accrued income<br>28,960<br>32,185|**2020**<br>£<br>130,278|
||**2020**<br>£<br>3,005,496<br>**2020**<br>£<br>1,504<br>9,200<br>38,934<br>49,638|





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|**Notes**<br>Other taxation and social security<br>Government grants<br>**23**<br>Trade creditors<br>Accruals and deferred income|**2021**<br>**2020**<br>£<br>£<br>11,357<br>9,016<br>4,524<br>19,858<br>14,078<br>45,007<br>69,022<br>76,222<br>96,640|
|---|---|



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|Operating cost reserve<br>InvestmentinCESSA Housing<br>Association Limited<br>Capital fund for future opportunities<br>Balanceat<br>1January2020<br>£<br>1,250,000<br>284,125<br>2,120,992<br>3,655,117|**Movement**<br>**infunds**<br>Transfers<br>Balanceat<br>Incoming<br>1January2021<br>resources<br>£<br>£<br>£<br>(230,000)<br>1,020,000<br>(284, 125)<br>467,311<br>2,588,303<br>178,300<br>(46,814)<br>3,608,303<br>178,300<br>Balanceat<br>31December<br>2021<br>£<br>1,020,000<br>2,766,603<br>3,786,603|
|---|---|



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|**27**|**Cash generated from operations**|**2021**|**2020**|
|---|---|---|---|
|||£|£|
||Surplus/( deficit) for the year|194,416|(58,530)|
||Adjustments for:|||
||Investment income recognisedinstatementoffinancial activities|(101,509)|(99,527)|
||Foreign exchange differences|(1,779)|13,824|
||Loss/(gain)ondisposaloftangible fixed assets|794|(247)|
||(Gain)/lossondisposalofinvestments|(3,848)|9,555|
||Fair value gains and losses on investments|(304,783)|(125,026)|
||Depreciation and impairment of tangible fixed assets|15,695|19,254|
||Movementsinworking capital:|||
||Decreaseinstocks|56,062|14,499|
||Decrease/(increase)indebtors|16,242|(11,390)|
||(Decrease)increditors|(10,845)|(34,054)|
||(Decrease)/increaseindeferred income|(4, 198)|508|
||**Cash absorbedbyoperations**|(143,753)|(271,134)|



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