Charlty Téglstratlon numbbr 226684 Company reglstratlon number 00034118 (England and Wal851 CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2022
CHURCH OF ENGLAND SOLDIERS., SAILORS, & AIRMEN'S CLUBS LEGALAND ADMINISTRATIVE INFORMATION Council Members R&arAdmiral A R Rymer CEng {Chalrmanl Colonel C E H Ackroyd TD RD DL (Vice Chalrm8nl Mr l H Currie FCA Ms G Grfndell Mse CornmanderA E Mlzen RN Cornmander J F J Simpson RN Cornmander S J Snowb811 RN Mr D J Foster FCA MrSDRlce IAppoinled 22 June 20221 IAppointed 2 February 20221 Chlef ExecUve Officer Commander P C Keele RN S8cr8tary Gommander P C Keele RN Charlty numb•r 226684 Company number O(HJ34118 Prlnclpal address 1 Shakespeare Terrace 126 High Stre81 Portsmouth HampshSrg P012RH Reglst9r¢d offl 1 Shake5P8ar8 T8rrac8 126 High Stre8t Portsmouth Hamp5hlre P012RH Audltor Jones Avons Llmlted Plpar House 4 Dukes Court 8ognor Road Chlch@5ter West Sus58x PO19 8FX Bankers Lloyds Bank Pl¢ 113 Commerclal Road Portsmouth Hampshlro P01 1BY
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS LEGALAND ADMINISTRATIVE INFORMATION Sollcltors Blake Morgan LLP Harbour Court Compass Road North Harbour Portsmouth Hampshire P06 4ST
CHURCH OF ENGLAND SOLDIERS., SAILORS, & AIRMEN'S CLUBS CONTENTS Pag8 Councll Members, report St8t8rnent of Council m8mb8rs' r8sponsibiliti8s Independent audtrtor's report 8-11 statement of financial actlvilles 12 Balance sheet 13 Sla18m8nl of ¢ash flows Notes to the fin8nci81 slat8rnents 15-29
CHURCH OF ENGLAND SOLDIERS,, SAILORS. & AIRMEN'S CLUBS COUNCIL MEMBERS. REPORT {INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 DECEMBER 2022 The Councll members present their report and financial 5taternent# for the year ended 31 December 2022. The accounts have bgen prepared in accordance Wlth the accounting polici85 set out In note 2 to Ike accounts and comply with the charilws Articles of Assoelation, the Companies Act 2006 ancS"Accountlng 8nd Reportlng by Charilies.. Statement of Recommended Practl¢e applicable to charities preparing their accounts In ac¢ordan¢e with the Financial Reporting Standard applicable In the L*K and Republic of Ireland IFRS 102119ffective 1 January 20191" Oblectlve5 and actlvltl•s Th8 Church ol England Soldlers., Sallors, & Armen's Clubs lshort lille: CESSACI origin8ted in Aldershot In 1857 Its provide an alcohol-free. non-proselytising home-trom-home for soldiers. Its founding precept Iclrca 18811 included its int8nlion. (o piovldè for tho Nation's soldlers, places where they ran resort and find r8St and healthy reereatlon and where they can asso¢iat8 on 1grm8 of friendly Intercourse" Thè success of the orlginal facillty resulted In many others being openad tsvtrr the years land many closing 8gain lo m8tch changing dernandl. Apart from the fact that the charity's reach has extended lo cover 5allors and then almien, that pret rernalns as true today. CESSAC'S principal airn is still, tharelors, Ihe operation of homely, welcoming am8lllty C8ntres at military bases to improve the morale and wellbeing ol servi¢9 personnel andlor thèir families. At 31 December 2022, there were 9 such c8nlr8s. 4 in trn6 gioup (all in Cyprus) and another group with 4 in UK and one in tha Falk18nds. Other aims were added in the 1970s,' to relieve persons who hav8 sarved In H.M. Fo$ and the dependants of such p8rsons as are in n88d of 8s515tance including the prowsion and rnanagem8nl of housing. Thi5 enabled CESSAC to contflbute to the establishment of CESSA Housing A5socl8titsn Llmlted ICESSA HAI. a separate charitable organisation Ihal owns and operate5 sheltered housing lor elderty ex-service p80p18, their 8POUS8S, widows, wldowÈrs and immediate relatives. CESSAC has since provided gTants to CESSA HA and other gligible chari1Ses In furtheranc8 of IhTs 8im. CESSAC stlll shares ils Hgad and som8 siaff with CESSA HA, although both organisalions have Ih8ir own 8oaTds and oper8te Independently. The latter is accountable to Ihe Rggulator of Soci81 Houslng and the Flnanclal Conduct Authorfty. Tho r8lalionship wth CESSA HA r8sult8d In CESSAC enlering into an agre8rnent with Greenwich Hospltal. A Crown Royal Navy Charity. lo manage its sheltered houslng IGHSHI for former m)berS ol the Naval Service in th8 1980s. Although 18VI8W8d r8gularfy. this symbiotic relationship continues lo this day, prowding adv8nt8ges for all parties. CESSAC 18 8 foundèT member119391 of tlie Councll for Voluntary W8lf8r8 WO ICVWWI. which enables It to operate Iri Armed Forces establlshments al home and abroad und81 8 charter wllh the Mlnlslry of Defence IMODI planned to become a new Memoi&ndum ol Understanding IMOUI. The Chart8r betW88n th8 MOD and CVWW r8cognises that the arnenity centres provided by fn8mb8r organisatiOll5 requlre a certaln amount ol prirnary trading in ordgr to be sustainable. The income re1Ve Is therefore one indicator of wh8th8r th8 C8ntr85 ar8 being used by Ihe beneficiarles and hen meeting their welfare n88ds. However, there are many factors outside the charity's control, particularly changes In the numbeF of Servlce personnel present in any location. and Iu8t because a eentro operates at a loss does not mean il is not ne8d8d. For thi5 rea50n, the current and anticipated use of each centre is regularly reviewed 8gainst the perceived benefflt being provided in an attempt lo best match Ihg running cosls across all ol them wllh the Ilkely income overall. Thus a Ioss-rnaking ntre percelved to be rneeling a partlcular welfar8 need can be supported financially by surpluses generated 9188wh8r8. This 18 delai18d In a separatè Impact Statement focussed on the charily's stakeholde15, visible on its web51te. The current aim is that CESSAC'S proportion of He8d Office costs Are funded by income on investments and from other sourc88. Major Improvemontslrepalrs are paid for from the long-tertn growth in the capllal value ol th& investments. The Council members h8vg pald due regard to guldance Issued by the Chartty Commlsslon In d8cldlng what a1VitieS th8 charity should undertakg. The beneli¢iaries and th8 respective publlc benefits are detalled separately al the end ol this report under each of the 4 registered objects. The CounThl membgrs review the slrate9y 8v&ry 2 year5 to provlde clear prlorities kjr the delalled busin85s"plan, and have contlnued tu confirm that the objects (see pag8 61 do not n8ed to be Tavlsed.
CHURCH OF ENGLAND SOLDIERS., SAILORS. &AIRMEN'S CLUBS COUNCIL MEMBERS, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Due lo the naturè ol CESSAC and its objec15. Its activities have alreBdy been described above.. tnainly thè OP8ration of its 8lf8nily c8nlres (for objects i & iiil and ongoing support to CESSA HA and GHSH lobi2cl ill, as well as other eligible charities. Significant grants are only tnade when lund5 permlt Ibut srnaller grants for objects ii. iii & iv are made annually se8 Note 101. While CESSAC welcomes volunle8rs, particularly in places like the Falklands, the nature ol Its work generally results In rollance on pald staff. Achlevemonts and porfomianco General. The legal restrictions for the Covid p8ndemic were finally lifted in UK on 31 March, only to be succeeded by a cost of Ilvlng cdsls. Thero was a thorough revlew of the charlty's Gtralegy th1s year, whlch recognised the limited fin8ncial scope for new iniliativ&s. Therefore, it Ternalns 'steady 85 sh8 g08s', although CESSAC wlll continue to look for now places that would benefit from sgrvices. The revlew encompassed the polieS on re5etves and inve5tm&Fils. Although the RAF has Bdopted gender neutr81 ranks 8.g. Airmen & women are all now'Avlalors', the Council decided nol to rush to Change the Alrmgn in the lille lust yet. FollowSng the Sad death ol CESSAC'S pation in Septernber, the charfty await5 the result of the Royal farnSly'5 re¢on$iderallon of palronaoes. Mganwhile, a new 4th Vlce Presldent has been appointed the outgolng Comrnander 8riti5h Forces Cyprus. Major General Thomson. A bursary for a naval sponsored ordinand is now in Its second year (see Note 101. Other work locusslng on our charltable output and future plans continu8d. Th8 Welfare Amenity Comrnlttee IWACI undertook Its annual review of centre perfom)ance, conlirmlng the continued levate and charitable outpul of all of th8Tn. CEO continues lo r8pr888nt CESSAC at rn8elings of CVWW and CobseD, th8 Confederatlon of Service Chadlles. These provlde Invaluable information. insight and opportunitles to work wllh other chariti8S. Centre8 In the Falklands and UK. The8e are straighfforward coffeo shops or cafes providing a homely and welcoming environtnent for Service pe150nnel and their familie5. often adjacent lo recreational facilities andlor the chaplaincy. Accordingly, each has a relatively modest turnov8r (all und8r £100KI with th8 Falklands and Blandford the hlghest. The big9esl new5 01 the year was that we rTranaged lo selze the unexpecled OPFt>rtunity lo take over th8 café In the Ald8Tshol Garrlson Cornmunlly Hub In May. Thls w85 tnade FKJsslble by CESSAC, membershlp of the Councll of Voluntary Welfare Work, whose ctslleagutrs in 'Sandes' were havlng to witttdraw. It could only occur. how8v8r, thanks to conslderab18 hard work by 818ff. support8d by th8 G8rrSson and with a grant from sSsler charfty ACEST. Indeed, we also have ACEST lo thank for a further £20k for Ihe lon>overdue r&furbishtnent at 818ndford. M88nwhll8. Colchest8r & Woodbridg8 88ch ben8flted frotn generou5 local fundlng for new furniture and both were thanked for their Jubllee efforts. In July, the opportunity was taken lo explore the potentlal for a centie al MOD Lyneharn, but sadly the constraints proved th55 would not be vlab18. Th8 Oa555 In the Falklands remains aptly named as the place that provides refuge & relief in a b8rr8n landscape. Being an altfield and 35 miles from Port stanley. transport is essential here and yet very challenglng to obtain, so we hope th8 latest car lasts longer Ihan ils predecessors. Th8 station has kindly funded a new coff8e machine. Centres in Cyprus. Unlike the other centr88, some of CESSAC'S locations Trn CypTUS includ8 shops selling permltted varlety ol often UK-sourced goods dlffi¢ult to otherwlse obialn. The rlse ol Internet shopplng and changing habits has continued lo redLSC8 turnover in shops. In r8sponse w8 h8V8 increas8d the proportion of cenlres devoted to Café spaca. The Area Manager has managed to negotiate a number ol Ioc81 grants to augment CESSAC'S funding for improvernenls at all 3 open centres Ihis ye8r. Dhekelia now has a marvdlous new sunshade and the café artra has expanded wllh new lurnlture Snlo what used to be part of the unduused shop. The latter h85 generated rnuch use from those wishing to be in a ternperature-conlrolled environment. Eplskopl contSnue5 to perform really well. The refloorlng and redecorallon at Akrolirl have transformed the look Ihere, whlch was enjoyed by an LInU51 nurnber ol the Naval Service Ihls autumn - Royal Mart Tie5 and sailor5 on a deploymen¢. Meanwhlle, the durallon of the buildlng work In Akrolri has been exlend9d aThd so has the agreement for Lady Lampson'5 to supply the lunches. Thls resulted In st8ff 0150 dellvering their ftrst ThanksgSvSng' rneal, whlch was rnosl warmly welcomed by those so far from hom8 in the USA, and looks sel to become an annual flxture. At NIc05ia. far from opening In January 2022 as hoped, sadly the Britlsh Contingent k18ntlfied further urgent work was ne8ded to the bulldlng. Th8 start of this had to be delay8d by a y8ar or more. so there hos to be 8 rlsk of even tnore delays or even abèndonmenl of the project.
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS COUNCIL MEMBERS, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The c8ntr88 rern&in well supported by the Cotnmand chain and valued by the thousands ol UK Service p8rsonnel and their families, bul understandably generated tnuch 1885 incotne latml exp8ndlturo1 during the pandemlc. Similarly, ther8 was much188s call for don8tions to support the communlty, which We a fraction of nomial (Noie 101. Ex4ervlce personnel & thelr famllles. CESSAC has continued to 8nab18 CESSA HAto m8k8 savings thr(>ugh sharing a Head Office and slaff and man8ging 91 5helleied flat5 al three slies on behalf of Greenwid) Hospital. We were pleased to be able to retum to funding a Christmas meal for the lenanls of all CESSA HAs¢hemes at 8 oisl of £3,984 Is88 Not8 101. Fundralslng. CESSAC does not undertake fundralslng from the publlc Ilsell and its Colle¢lN)n Boxes were Introduced Into locations lo underline the point th8t it is a tharity. Unsurprisingly. th8y ar8 g8n8rating a roduclng 8mount with the rise of eleetronic payment. Inv83tment perfomance. The Investment elements have performed w611 from a hlstorical peTspectlve 8s well as generating Invaluable income. In 2022 investrnenl income was £103,001, although the capital value decreas8d by £409.706 (early 2023 has seen a partial Improvement). Some further cash lor use In operations was generated from taking a total return approach to the Charles Stanley portrolio 8nd £50,000 was wlhdrawn frorn BlackRock to support the cash-flow. Financial review The results for the ye8r Ère set out on page 12. It Is clearly unwelcome that the net movement In funds shows a fall of £528,018, although this Is mainly attributable to the loss on investm8nt5 already mentioned. It 8150 includes a gain on exchange of £6,543. Therefore, the 8Ctual oper8tlng posltlon showed a loss of £124,853, which is slmllar to 2021. 11 Ss Smportant ¢0 highllght here that this also include5 8 significant further write-down of stock value In Cyprus. a de¢lsl¢)n takèn as part of the ye8T end stocktaklng. Head Offictr has eonllnued to play Ils part In keeplng costs down and supporting all the op8r8tion8 8nd governance. This Is illustrated at Not8 9. wh8re It can b8 Seen th8t SUPPDrt costs Are low and the overall net (X)5t5 are considered lully lusli1Sed In support of CESSAC'S charitable objeC'Ves. The Council, through the WAC, keeps a dose check on the operating pos5tiori. Reserv85 policy The reserves poltcy is reviewed annually and in 2022 oper8tw)nal r8S8rv89 wèie mhinl8ined ot 9 months, ol lurnov8r. £1.020,000. to COV81 lh8 nurnber of centre5 and di5perslon of cash between different bankslcurrencies. other reserves are maintained to fund repai1MproVrnents of the Clubs 8ndloT tnak8 donations in furth8raneè ol the charity's aim51588 Nota 261. Howevei, Since Ihe trading incortFe alone has been insufficienl to fund centre operatlons for some years, the tharity expects lo continue to use incorne from investtn8nts to enable the charitable oulput to continu8. Investmont pollcy. The Counal mernb8rs ensure that th8 capital held by CESSAC Is invested prudently and conservatively over the long tem) for the ultimate benefit of meeting its objectlV8s. TheiT pollcy is to incie8s& both capital and income from th8 IllV85ttn8nts ov8r the long lerrn. Th8 ie5erve5 are invested across a number tsl financial Institutions.. the greater pari is in AFCGIF units, currently managed by BlackRock, wlth most of the rest In a Charles Stanley discr8tionary manag8d portfolio al tn8diutn tow iisk. Th& remairider is in a Virgin Money Charlty Deposll Account. Prlnelpal Rlsks and Uncertalntles The Council has taken 8 risk-based approach lo internal contro15. includlng directlng members to undertake int8mal auditlng. The most significant risks lo the charity relate to investments, slnc8 litt18 capit81 is t18d up In 8ny Indivldual cenlre. The Council follows a policy of spr8ading th888 al m8dium lo low risk as described in the Inv8slment Po1iey, revlews thelr perforrnance at every opportunity and has an Investffl8nt Pan81 to OV8rse8 th8 investment environment b81ween tneeting5. The Council rnetnbers have assessed the major rlsks to which the chgrity is exposed and are sausfied that Systems are in place to mits'gatg exposurg lo th9m.
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS COUNCIL MEMBERS, REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEIWBER 2022 Ov8T th8 charity's 132 y88rs slnce in(x)rpor815on,11 has usually bgen altgralions In the Armed Forces that have both presented new opportunlties andlor caused exlsllng eentres to close. It Is for IhSs ason that mtssl curnt c&ntre8 have not received significant capStal and ar8 d8V81op8d with the assistance of the relevant 8stabli8hrn8nt and funding souoht from other sour. Therefore, the success or failure of indivldual ntreS Is unllkely to pre5enl 8 Significant risk. The UK Governm8nt compl&l8d a D8f8nce & S8curity r8v18w in March 2021, which does nol appear to have any obvious direct effects. Withdrawal from any ¢enlre is wnSided if sustained losses ¢here cannot be justified by the assessed tharitable benefit in that location. bul othetwl88 S8rvic@ Is rnainlaSned as long 85 the overall performanc8 of the charily is salislaclory. Loss ol the Greenwich Hospital agreement would deprive the charity ol some income and the economies inherent in shared lacililies. This is mitigated by demon5traling Ihe efficiency and added valu& provided to the rnanagemenl ol the sheltered housing, which has resulted in a new five-year agreement until 31 January 2028. Tho risk policy is regularly ieviewed and thè register is rnaintainad in a detailed matrix. Adear syslgm Is opgraled lo ensure that every Tlsk is reviewed ellher by Councll or WAC al least annualty. 2023 & Plans for tho future Efforts will contlnuo lo explore pot6ntlal n6w contros at Thomoy Island and RAF Cosford. Follow CV merrb8r Sand88 announc8d in early 2023 that its S c8ntres would b8 closlng at th8 8nd of March. Staff hav& v4siled Plrbrlghl and offered tD lake over there, bul the other 4 appear MO sultable for other Gharltles. Eplskopl will be relurt>ished once the shop area has been reduced further and the station plans to install a new extractor fan. The Councll will conduct qulnquennial vIpW$ of both auditors and investment managers and Intends to upd8te the Artide5. Golng Con¢•rn Rolling forecasts ar8 maintained for bolh cash-flow and income & expenditur8, both of which currently pr8dict beltèr year ahead than 2022. The Council firmly belleves the charlty remalns a golng concem. Glnce the Ilkely rat8 of loss should b8 cont8inable for significantly mor8 than 12 months. structUTe. governanca and manag8m8nt CESSAC is a charity (No. 22668418nd a cornpany limited by guarantee and not h8ving share c8Pltal. registered In England (No. 000341181. It dogs not trade lor profit, is exempt from Corporation Tax and Is VAT-regislered. (No. 675 8276 831. 115 Mernorandutn and Articl&s ol Association govern the charitable cornpany, including the appoinlrn8nl and reappolnlmenl ol its memb9rs of Council. CESSAC Is governed by th9 Council, which mel 5 tlm98 in 2022 loncg via Mlcrosoft Teams to the pandemlcl with 88% attendance. The WAC rneets three limes a year and reports ils activities at the next Council meellng and sgeks approval for any slr8tegio decisions. The Council and WAC are assisted in their r88ponslbliti88 by th8 Chlel Executlve Officer ICEOI who manages the operations and personnel. None of the Council members has any beneficlal Inte$t In the company. All of the Councll members are rn8mbers of th8 cornpany and guarant88 lo contribute £1 In the 8vent of a windlng up. Trust888 Ind8rnnlty Insurance up to £500K is provided as part of a portfollo ol polIcs. The Council rnembers, who are also the directors for the purpose ol company law, and who served during th8 y8arwere'. RearAdmiral A R Rymer CEng Ichairrnanl Colonel C E H Ackroyd TD RD DL (Vice Chalrmanl MrA J Cobb FCIH Mr l H Currie FCA Ms G Grfndell Msc CommandarA E Mlzen RN Mrs A C Rodgers FCA Commander J F J Slmpson RN Commander S J Snowball RN IRètSred 22 June 20221 (Appolnted 22 June 20221 IRetlred 22 June 20221
CHURCH OF ENGLAND SOLDIERS., SAILORS, & AIRMEN'S CLUBS COUNCIL MEMBERS, REPORT (CONTINUEDI(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Mr D J Foster FCA MrSDRi (Appointed 2 F8bru8ry 20221 Adv8rti58m8nts arE made lo atlracl potential membersltrustees, whos8 applications are then consldeTed by thE Councll. Those s&l&cled 88 m8mb8rs 8r8 8IEqibl8 lo slt on commlttèes and vote at goneral meotings. Potential truste8S 8re invited to an informal meeting with the Chairman. This is followed by 8 brief from the CEO and an Snvltatlon to attend the next Council me8tlng as an observer. A formal Invitallon to loln the Councll will follow il both parties agree. followed by Inductlon conducted by the CEO. New trust88s are CoPted until election 15 consi(5ered at the next AGM. Tralning is off8red ragularly 8ntJ the Counoll ieviaws Charily Commlsslon e.mails, Gov8rnanc8 & L88dorshiplCharity Finance magazines and other rnaterial lo keep up to d8t8. The Charity Gov8rnanc8 c8. Performance against the Charity Code of Governance 2017 8nd the Cobs80 8lde-memoire have been assessed. Th8 organisallon m81 all cAt8ria. Sav8 for on8 rel&ting to Equallly and Diverslly, which history and recruitrnen( opportunitie5 lender difficult lor us to achieve, nofv4ilhstanding 8 Stated Pollcy In thls area, applled across the organlsallon. Subjèct to th8 Usual ebb and flow of represenladon In a relatively small organisation. g8nder balance overall has been 5alisladory. However, an underfying requir8ment for tnllitary experIen, and the need to maintain a range of skllls and qu81ification8 8gain5t low turnover, together wllh some geogr8phical r8slriclions, hav8 limited th8 available field from which minority involvement in governance Fnatters can be drawn. In order to maximiso the opportunity for minorlty participatlon In future, reGrullmenl ¢riteria, adv&rbsino 8nd proc8dur85 ara kept under review. Remuneratlon pollcy. All of the m8mbers ar8 unpaid volunteeis. The overall purpose of MneratIOn policy for the 5t8ff 8t all levels, together wlh thelr terms and condllions of service, is to attract and r6taln those wlth appropriate skills, experienc8 8nd cornpel&nci85 who are cotnrnitted to delivering the relevant charile work and purposes. Although CESSAC does not engage in subslantlvg levels of fundraising or voluntary work, tha 6Steem and value derived from working in th8 charTrtab18 S8cloi are noted, as ¢0mmended. With a principal aim of f8lme55 alld no overrlding factors, save for affordabilily, the fdlowing will bg takon Into account when deciding remunefalion- The scope ol individual rgsponsibilllies.. any fundamentsl chang6,' and porformanco agalnst short aTh long terrn 8xpeclation5 and objeBtives. Affordabillty Isuslalnabilityl of tha loial Cost of remunerauon awards when rneasured against ¢h8 n88ds. The likely irnp8¢1 on th8 b8V8fici8ri88. Comparablllty In approprlale sectors, tog8th8r wlth.. national rernuneratlon trends and mlnlmum wage TeguLqlions', Infl8tlon', and appllcable localloverseas factors. The remuner3tion ratio beiw88n Senlor and other staff in Ihe organlsalion. The comblned effect of pay and oth8r el8m8nl8 of wid8r r8tlluneTBlion packaggs, including any not consolid8t8d awards. Relatlon8hlp$. CESSAC share5 a common root wllh the Adershot Church of England Servi(8 Trust, 8nd thr88 of Ihe fomer's members are appointed as trustse8 for the latter. CEO18 CESSAC'S tmstee lor CVWW. A558t cover for funds The chÈrlty has no SIgncan1 restrfcted funds and therefore no 8naly818 ol ftknds Is glven In the notes.
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS COUNCIL MEMBERS, REPORT (CONTINUED)IINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Re9lslered ¢harltsble oblg¢t$ The oblects for whlch the Charity 55 established are beli)w In 'lnverted cotnma5', each followed by a surnmary of th8 benefits delivered lo the respective b8nefi¢larles', Ill'To open. carry on. e5tabllsh and tnalntaln Church ol England So1diBrs', Sailor5. & Airmen's Clubs or Centr In mllllary staUon8 and other places at home and abroad, and to asslst loal or other efforts to open, carry on, estsb11sh and malntaln such club5 or centre5'. The alm rem8ln5 to provide homely lacililie5 lor setvlng P8r8onn81 andlor their farniligs, Th8 b8ngfil Ih8y d8rivg from the centr9S 18 amply demonstrated by thgir usg and the strength ol SUPPDrt from the chain of corntnand. 1111 'To fvrthgr the rgllglou8 and charitable work of the Church of Enol8nd arnono81 those $8rvlng In H.M, Forces.. Thls Is achieved by working wlth Servl¢e Chaplain5 wherever posslble, wllhout impTrnglng on the non. r6llgious nature of the c8ntr88. 11 includgs off8ring 8 grant to help 8ervlc8-spon80red ordlnands (Note 101. Illll'To r?1Sev& persons who have served In H.M. Forces ancl the dependanls of suoh persons as are In need of assistance Including the provisSon and rnanagement of housing.. Thls alrn is cl8ar and currently largdy, bul not exclusively, delivered Ihrough the asslslance provlded to CESSA Houslng AssocialSon & GHSH. livl 'To prornote the efficiency of H.M. Forces by the provision of facilities and equipment for education81, recreatlon and leSsure pursulls lor those servlng In H.M. Forces, whether al Church of England soldr$,, Sailors, & Airmen'5 Clubs or Centres or elsewhere and whether at home or abroad,. This is a recognised broad Oblecl lo enable a wlde range of support to be provlded lor the beT)eflt of servlng personnel as noeds arSsg. The level of the 10s5es over recent years has meant th81 Ihls alm Is currently supported by a number of small grants lo other organi8ation$, lisled for Cyprus al Note 10. Audltor In accordanc8 Wlth th8 charitys articles, a resolution proposing that Jon8s Av8ns Llrnited b8 rgappoinl8d as audltor of the charlty will be put at a General Meeting. Disclosure of information to audltor Each of the Council members has confimed that Ihgre is no infomiation ol whith they are awa whh is relevanl to the audit, bul of which the auditor is unawar8. Th8y hav8 further collfirmed Ih&l they have laken appropria18 8teps to Id8ntrfy such r818vgnl Infonnatlon and to 88tablish that th8 auditor is aware of such information. This report has been prepared in accordance with tho SPEdal provisions relating lo small companles withln Part 15 of th8 Companies Act 2006. The Councll members. report was approved by the Board of Counell Membets. Rear Ch8irm8n Dated.. 19 April 2023 mer CEng Ichairnianl
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS STATEMENT OF COUNCIL MEMBERS, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022 The Courkcil rnernb815, who ar8 also Ihe difec1015 01 Church of England Soldiers., Sailors. & Aimien's Clubs for the purpose of company law, are responsible for preparing th8 Councll M8mb8rs' Report and th8 accounts In a¢cordan¢e with applicable law and Unit8d lQngdom Accounting Standard5 Iuniled Kingdom Generally Accepted Accounting Praclioel. Company Law requIS the Counc51 members to prepare accounts for each finand81 year whlch glvÈ a tiu8 and falr vlew of Ihe state of affairs of th8 charity and of th8 incorning iesource5 and applicallon ol resources, including the inwrne and expenditure. ol the charitable company for that year. In prgp8rlng these accounts. the Gouncll members are requlred to: 88lecl suitgble aceounllng polides 8nd then Bpply them consislenuy.. - observ8 the mèthods and princlples in Ihe Charftles SORP.. mak8 judgements and 88tlmat8S that Ère reasonable and prudent., state whether 8pplicable UK Accountlng St8nd8rds have been followed, subject to any materfal departures di5c1058d and explalned in the accounts,. and pr8pafe the accounts on Ihg golng cOnM basis unless il is inappropriate to presurn8 that the ch8rity will (x)ntinu8 in operation. The Council members are re8ponsib18 for kè8plng adèqu8te accountlng e0rd$ that dlsdose wSlh reasonab18 accuiacy at any time the financial position ol the charity and enable them lo ensvre that the accounts comply wilh the Companies Act 2006. Thfjy are 8lso responslble for s8feguardlng the assets of the charlty and h9nce for taking reasonabl8 St8P5 for the pievenliDn and detectlon of fraud and other Srregularitie$.
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS INDEPENDENT AUDITOR'S REPORT TO THE COUNCIL MEMBERS OF CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS Oplnlon We have audiled the accounts of Church ol England Sotdigr8', Sailors, & A4rm8n's Clubs Ithe th8riWI for the year ended 31 Decetnber 2022 whlch compriso the Sialement of Financlal Activltles, the Balance Sheet, the Slaternent ol Cash Flows and the notes to the OUnt$, including a summary of slgniflc8nt accountlng pollcSes. The fln8nc¢al reporting framework that has bean applièd In thelr preparation Is appllcable law and Unlted Klngdom A¢counling Standards, including Financial Reporting Standard 102 The Financi81 Reporting Standard 8pplicable In the UK an Republic of Ireland Iunlted Klngdom Generally Accepted Accountlng Pracllcel. In our oplnlon. the flnandal statements.. glve a Irue and falr view of the state ol the charllable ¢ompanyÉ affairs as al 31 DerRmb8r 2022 and ol its incoming resources and appllcatlon of resources, for the year then ended,, have been property prepared In accordance wth Untted Klngdorn Generally A¢pted Accountlng Pract1,. and have been prepared in accordan wlth the requirements of the Companies A¢1 2006. Basls for oplnlon We condu¢led our audit in accordance with International Standards on Auditing IUKI IISAs IUKII and 8pplicabl8 law. Our re5ponsibllities under those standards are further described in the Auditorfs responsibilities for the audit ol the accounts section ol our report. We a independent ol th8 charity in accordanc8 With th8 8thical r8quirem8nis that are relevant to our audit of the aceounts in the UK, includlng the FRC'S Ethical Standard, and we have fulfillgd our other ethical responsibilit18s in accordanc8 Wlth th888 requir8m8nts. W8 b8lieve th8t the 8tJdit evidence we have obtaln6d Is sufflclenl And approprlate to provlde a basls for our oplnlon. Con¢luslons relatlng to golng ¢oncern In auditlng the financlal statements, we have concluded that the Council m8mbers' use ol the golng wn¢8rn b8s18 of 8ccountirvJ in the preparation of the financi81 statements is appropriate. 88s8d on the work we have performed. we have nol Idenufied any malerlal uncertainties relating lo events or condiilons thal. individually or collectively, may ¢88t slgnificont doubt on the charily's ability to contlnue 85 a golng concern lor a period DI al least twelve rnonths from when the financial statements are authorised for issue. Our re5POn51bllltSe5 and the responsibllllies of the Council members with respect to going concern are described in the relevant secllons of Ihls r8W)rt. other Informatlon The olh8r inforfflation cotnpri888 lh8 infortnation included in the annual r6pori. othèr than the attounts and our auditor's report theon. The Council members are responsible lor the olhgr inlorrnabon. Our opinion on th8 accounts doe5 not cover th8 other information and w6 do not exprass any form of assurance conclusion Ihgreon. In connectlon with our audit ol the accounts. our re5ponsithllty Is to read the other Informallon and, In dolng so. conslder whether the other information is materially inconsislenl wilh the accounts or our knowledge obtained in the audll or oiherw15e appear5 to be rnateiially misstated. If we l¢J6ntlfy such materfal InconsSstencles or apparent material misstatements, we are required to determin8 wh81h8r Ih8re is 8 rnaterial mls51atetnent the accounts or a rnaterial mis8tatern8nt of the olhBr informallon. 11, based on the work we have performed, we conclude that there Is a material rniss1819rn8nt of this other infomialion. we ar8 r8quir8d to report that f8cI. We have nothlng to report In this regard. Mattors on whlch wo are rgqulrod to roport by excgptlon We have nothlng lo report In respect of the following matters In relation lo whlch th8 Charit188 (Accounts and Rgportsl Regulatlon8 2008 requ1 u5 to report to you If, In our oplnlon.. the information giveri in the financial 5tatetnents Is Incon&stent in any materfBI respect wFth the Coundl members, report., or surriclenl a¢counling records have not been kept., or the flnancial slalements are not in agregrnent with the accounting r8cords', or we have nol re¢eived all the information and 8Kplanalions w8 r8quir8 lor our audiL
CHURCH OF ENGLAND SOLDIERS., SAILORS, & AIRMEN'S CLUBS INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE COUNCIL MEMBERS OF CHURCH OF ENGLAND SOLDIERS,, SAILORS. & AIRMEN'S CLUBS Responslbllltles of Councll rn8mbers As explained more fully in th& slatem8nt ol Council members, re$ponsibilili8s, th8 Council rn8mber5. who are also the directors of the charlty for the purpose of company law, are sponsIble for the pparatiOn of the fflnancl81 slalements and for bglng satisfied that they giv6 a true and falr vlew, and for such Int8mal contiiA as the Councll rnemb8TS d8termlne Is The$sary to enable the preparation of finandal statements that are free from mat8ri81 mlsslalemenl, whether due lo fraud or error. In preparing the financial slalernents, th8 Council memLErs are r8sponsible for A5sesslng the charfty's ability to continue as a glyng concern. dlscloslng, as applicable. matt8rs related to golng ncern and using the going concern basls of accountlng unless the Council mernb8r5 either intend lo liquidate the charllable company or to cease operations, or hav8 no re81isllc alternatlve but to do so. Audllorfs responsibilities for the audlt of the financlal statements We have been appointed as audllor under section 144 01 the ChaTthg8 Act 2011 And resx)rt In accordance with th8 Ad and relevanl regulations made or having 8ffed thèreunder. Our objectivès are to obtain Teason3b18 assuranc8 about whethèr tha flnanclal statements as a whoke are free frorn material missl8lem8nt. whether due to fraud or error, and to issue an 8uditorf5 reFK)rt thet includes our opinion. R8asonab18 assurance Is a hlgh lgvel of assurance bul Is not a guaianlee Ihal an audlt conducted in accordance with ISAS IUKI will always delect a material misstatement when it exists. Misst8t&rnents can arise from fraud or error and ar8 consldered materlal11, individually or in the aggregate, they could reasonably be expected to intlu8nc8 the economi¢ decisions of users taken on the bAsls of these financial statern8nts. Identlflcatlon and 8sses8rnent of irregularltles Includlng fraud Irregulaiities, Including fraud, are instances of non-cornpll8nce with laws and regulations. We design8d proeedures In lin9 with our responsibilities. ouuined above, (o detect material misslat8rn@nts In iespect ol itregularllies, Including fraud. The extent to which our procedures were capable of detectlng irregularities, including fraud is detailed below.. we focused on speCC laws and regulations which we considered may havè 8 dlrect material elFect on th8 15nBnclal statements or the operatlQn8 of the assoclation. Including The Companies Act 2006 and The CharitiesAct 2011.. we oblalned an und8rs18ndTng of the legal and regulatory frarnework applicabSe to the entity and how the entity is complsqng wllh that framework by making appropriale enqulrlas ol managemenl as well a8 considerlnu the internal contrds in p18ce to rnitsg8te rlsks of fraud and non-compliance wth laws and regulations.. we made enquiries of thos8 ehsrgèd wlth governance Bnd management conMng.. the rfsks olfraud.. inslanc8s of ntsn-compllan with laws and regulation8 or knowledgè of actual. Sltspeeted. or 3116ged fraud Ss documented durin9 lh8 P8riod., we allocated 8n 8ng8gement team that we conSided colledively had th& 8ppropri&ie competence and capabillties to identify or recognis¢ non-cornpliance with laws and regulatlons.
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS INDEPENDENT AUDITOR'S REPORT (CONTINUED} TO THE COUNCIL MEMBERS OF CHURCH OF ENGLAND SOLDIERS., SAILORS, & AIRMEN'S CLUBS Audlt rgsponsg to thg rfsk of Irregularllles Includlng fraud Based on the results of our risk assessment, our procedures included, but wer8 not limited to.. perfomilng analytlcal procedures to ]denfY any unusual or unexpecled relallonshlps. evaluating whelh8r th8 Selection and application of 8ccounting policI85 by th8 entity that m8y bg indicativ8 ol fraudu18nl financial reporting resulting Irorn management's effcirt lo manage earnings. assessing whether judgements and assumptions made In determlnlng the aGcounling estlmBte5 set out In not8 1 w8r8 Indlc81iv8 of pot8ntial bias. agreelng finandal stalement disclosures to underfylng 6UPPOrtlng documenlallon. readlng the mlnutes of meetlngs of those charged with governance. testlng of Journal entries to 8ddress the risk of fraud through management override. ncorporaling an 81emenl of unprgdictability in Ihg 881gCtion ol the n8lurg, liming, and exlenl ol our audit procedures. Corroboting th8 bu51ness r811on818 for transactions oui8id8 th8 nomial cours8 01 busin8SS. Conclusion5 regarding the risks of irregularitl85 including fraud There are Inherent limilatior15 our audit procedur95 describ8d above. Th8 mor8 r8moved that laws and r8gul8ttons ar8 from finan¢ial Ir8nsaclions, the less likely it is that we would bg¢ome awar8 of non-comFAiance. Material mis8tstemenls that arise due lo fraud Can be harder to detect than those that arise from error as they may Involv8 d81ib8r8t8 conc?alThent or collu510n. W8 con8id8r8d our audit was capab18 of d8t8Cting irr8gulariti8s due lo.. the effg¢tiV8ng$$ ol th8 8nlity's Internal controls., the nature, timing and exlenl ol audll procedures performed,. and the absenc6 01 ¢ontradlctory evldenca. A further descrlptlon of our r6sponsibllllles Is avallable on the Flnanclal Roportlng Councll's w6bslle al.. htlps'.11 www.frc.org.uklauditorsresponsibililles. This description forms p8rt 01 our auditor's report. 10
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE COUNCIL MEMBERS OF CHURCH OF ENGLAND SOLDIERS,, SAILORS. & AIRMEN'S CLUBS Thls report is mad8 $0181y to tha company's membeis, as a body. In 8ecord8nee wilh secllon 391 of the Cornpani8S Act 2014. Our audlt work has been undertaken 80 that we might state to the company's mèmb8rs those matters we re required to slate lo them in audito¢s report and lor no olh9r purpose. To the lu11è5t èxlenl permitted tsy law, we do not acc8Pt or assume respons1bility lo anyon8 other than the company and the company's rnernber& as a body. for our audit work, for th18 report. or for th6 oplnlons we havg formed. Clalro Norwood Bsc FCA ATII (Senlor Statutory Auditor) for and on behalf of Jones Avans Llmlted 19 April 2023 Chartered A¢couniants Statutory Audltor Piper House 4 Dukes Court 8ognor Road Chichester West Sussex P019 8FX Jones Avens Llmlled is eluibl8 for appolntment as auditor ol the ch8rily by virtue of Ets ellgibilily for appointrnonl as auditor of 8 company under secllon 1212 of the CompaniesAct 2006.
CHURCH OF ENGLAND SOLDIERS., SAILORS, & AIRMEN'S CLUBS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrlcted Restrocted fund8 fund5 2022 2022 Total Unrestrlct8d funds 2021 2022 Notes Voluntary Income Charitab18 8Ctivitt88 Inv85tments other Inryjmg 17,047 686,354 103.001 101.118 24.300 41,347 686,354 103,001 101.118 65,380 410,106 101,509 93,473 Total Income 7.520 24.300 931.820 670,468 Ralsing funds 7.970 7.970 7,813 Charlt8b18 8ctSvlU88 1,035,829 11.674 1.047.503 776,076 other 14 1,200 1.200 794 Total r8sourc85 expended 1,044,999 11,674 1,056.673 784.683 Nel oparatlng d$tl¢lt {137,4791 12,626 1124,8531 {114,2151 Net galnsllJos6es} on Snvastmenis 12 1409.7061 1409,7061 308.631 N¢t loulgolnglllncomlng resources boforo transfèrs 1547.1851 12,626 1534,5591 194,416 Gross trBnsfers between fund8 16 4,000 14,000} Nèt loutgolngllincornlng re50urc05 1543,1 B51 8,626 1534,5591 194,416 Other recognlsed galns and Ios585 Other galns or losses 18 6.543 6,543 118,5141 Net movement In funds 1536,6421 8,626 1528.0161 177,902 Fund balanoes at 1 January 3.786.603 3,786.603 3.608,701 Fund balances at 31 December 3.249.961 8.626 3.258,587 3,786,603 The 81at8m8nl of ffinancla1 acllvltles Includes all galns and losses recognlsed In the year. All Income and expendlture dgrfve from contlnulng acllvltles. The 8t8tgm9nt of flnanclal activllies also complies with the requSrements lor an Income and expendlture account under the Companles Act 2006. 12-
CHURCH OF ENGLAND SOLDIERS,, SAILORS. &AIRMEN'S CLUBS BALANCE SHEET AS A T 31 DECEIWBER 2022 2022 2021 Notes Fixed assets Tangible assets Investments 17 19 85,873 2,823,172 59,375 3.280,429 2.909,045 3.339,804 Current assets Slo¢ks Debtors Cash al bank and in hand 20 21 53,198 31,949 382,698 65,094 32,185 425,742 467,845 523,021 Creditors: amounts falllng due within onè yèar 23 1118.303) 176,2221 Nel current assets 349,542 446,799 Totsl assets lèss current liabilities 3,258,587 3,786,S03 Ineomè funds Rfrstricled funds ed lund Designated funds 25 8,S26 res 26 3,249,961 3,786.603 3,249,961 3,786,603 3,258.587 3.786,603 The company is entitled to the exemption from the audit requirement contained in section 477 of the CompanSes Act 2006, for the year ended 31 December 2022, although an audit has been carried out under section 144 of the Charities Act 2011. The Council members are responsible for ensuring that the charily keeps accounting records which comply with section 386 01 the Act and lor preparing accounts which givè a Iiuè and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and applicallon of resources, including ils income and expenditure. for the financial year in accordance with the requirements of sectsons 394 and 395 and which otheise comply with the rèquirèments of thè Companies Act 2006 relating to accounts, so far as applicable lo the company. These financial slalemenls have been prepared in 8ccord8ncè with the provisions applicable to Companies subject lo Ihts small companies regime. The accounts were approved by the Council Members on 19 April 2023 Mrl Currie FCA Trustee Com Trustee J F J Simpson RN Company Registration No. 00034118 13-
CHURCH OF ENGLAND SOLDIERS,, SAILORS. & AIRMEN'S CLUBS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes Cash flows from operating activities Cash absorbed by operations 29 11 $2,511) 1143,753} Investing 8ctivilie8 Pur¢hase of langible fixed assets Proceeds on disposal ol tangible fixed asset8 Pur¢hase of investments Proceeds on disposal ol investments Investment income 145.5421 11,343) 1,594 188,5S11 136,112 103,001 3.611 149,362} 83,060 101,509 Net cash generated from investing activities 106,604 137.475 Net cash used in financing activities Net decrease in cash and ¢8$h èqylvalents 14S,9071 16.2781 Cash and cash equivalents at beginning of year Effeet of foreign exchange rates 425,742 2,863 436,978 14,9581 Cash and cash equivalents at end of year 362,698 425,742 14-
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Critical accountlng o$timatè¥ antl Judgement$ In the appllcatlon ol thB oharitys accounting policies, the Council memb8rs ar8 r8quired to make judgements. estlmates and assumptions about th8 c&rrylng atnouTTI of 85sets and Ilab11511es Ihat are not readiSy apparent Irorn o*her 50ur¢e5. The e5titRales and associaled assumptions are b888d on historical experience and other factors that 8r8 wnsidered to be rel8v8nt. ActV81 result5 tnay differfrom these estimates. The esllmates and underfying assumptions ar8 r8VI8W8d on an ongoi9 basls. Revlsions lo accounllng eslimales ar8 r8cogni88d in the period which the estimate Is revised Whe the revision affects only that perf(Kl. or In the period of the Tevlslon and fvture per118 where the I8vlslon affects both current and future periods. Accountln9 pollcles Charlty Informatlon Church of England Soldiers., S8ilors' & A1rrn8'S Club5 Is a prfvale company limited by 9uarantee incorporated In England and Wales. The r8gistered offlce 15 1 Shgk8spe8re Teiiac9. 126 High StroEI. POrtSmth, Hampshire. P012RH. 2.1 Ac¢ountln9 ¢onv8ntlon The aoUnts have been prepar8d in 8ccord8nc8 wilh the charitys Memorandum & Articles of Association, the Cornp8nie5 Act 2006 and -Accounllng and Reporting by Charities= Stat8m8nt of R8comtn8nd8d PractlC8 appllcable to charities preparing th8ir 8ccounts in accordance th the Flnancial Reporting Standard applicable In the UK and Republlc of Ireland IFRS 1021. las arnended for accounting p8riod8 commencing from 1 January 20191. The ¢harily 1$ a Public B8n8rrt Entity as defin8d by FRS 102. The Ilnanclal statements are prepared in 8t&rling, which is th6 funthonal currency ol the charlty. Monetary amounts In these finandal statements are rounded to the nearesl £. The 8o¢ount8 hav8 b88n pr8pared on the hlstorfcal cost conventlon, Mlfied lo include rtafjn financial instruments al falr value. The principal accounting policies adopted ar8 Set out below. 2.2 Going concern At the time of apprDving the flnanclal slatemenls, the Council m8mber8 have a reasonable expectation that the charity has adequate r88ourc85 to contlllue In operational exlstence for the foresegable future. Thus the Council rn8rnbe15 COTFtinue to adopt the going con¢ern basis of accounting in PTeparing the financial ststements. 2.3 Charitabl8 funds Unrestricted funds ale 8vallable for use al the dlscrelion of the Council m8mb8rs In furthèr8nca of thair charitable obleclives. D8slgna18d funds comprise funds whlch have been set aslde at the dlscretion of the Council memb8r5 for specific purposes. The purposes and use8 of the deSrnated fund5 are set out In Ihe notes to the financlal sl8lem8nls. Restricted funds are subject lo specific conditiolls by donors as to how they may be used. Thg purp)ses and us8s of the r8Stricted funds are sel out in the notes to the financial slalements. 2.4 Incomlng resources Income Is recognised when the charity 15 legally entitled to it after any performance conditions have been met, the amwnts c8n b8 tneasured rellably, and11 Is probable that incorne wlll be rec8Ev8d. 15
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 AcGountlng pollEle5 Icontlnuedl Cash donations are recognised on r8c8lpl. Other donations are reoognSs8d once the cha¥i(y has been nollfled of the donation. unles5 performance condltlon5 requlre deferral of the amount. Incorn8 tax recoverab18 in r8lation lo danations r8celv8d under GSftAld or d88ds of cov8nanl Is recognlsed at the lime of the donation. Legadgs are recognlsed on rocolpt or otherwlse11 the charlty has been nollfled of Èn impBnding dtrIbutIOn. the amount is known. and receipt expected. If the amount is not known, th8 18gacy is treated as a contSngent asset. Incotne frotn govemTn8nt and other gran15, whether 'c8Pital' giallls or 'r8v&nu8' grants, 18 r8cogni88d wh8n the ¢harity has enlillemenl to the funds, any performance conditions atta¢hed to the granls have been met, il Is probabl8 that the incom8 will be recelvod and the 8tnount can b8 m8asur8d r81iably and Is not d8ferr8d. Inme from charitable tradlng activilles prlndpally represents retall sales and other Income In CESSAC'S Servlces Centre In Cyprus and al CESSAC Centre5 the UK and 815ewh8r8 with oth8r op8rating incorne arising from f88s for managing sheltered 181tings, own8d by other charitable bodies, for ex-members ol HM Forces and Ihelr spou5e5. 2.5 R8sourc85 expended Exp8ndilur8 is r8cognised once th8re is a leg81 or constructiv8 obligation to make a payment lo a third party, it Is probable that settlement 11 be requlred and the amount ol the obllgatlon can be measured rellably. Exp&ndtlur8 15 classified und8r th8 following activity he8dings.' Expenditure on chaiitable activitie5 vndertaken to further th8 purp0585 01 the charity and Ih8ir associated support and govarnance costs. Costs ol Tai5ing funds cornprf5e the Gosls of the Investment portfo¢io tnan8gement. Irrecoverable VAT Is charged as a cost agaSnsl the adivlty lor wh1(* the expenditure was Incurred. Support costs are thosg luncllons that asslst the Work ol Ihg charlty but do not dlrecuy undertake charitable activitie5. Support Costs include back office costs. finance. p8r8onnel, payroll and gov8rn8nc8 costs which support the charltys a¢llvltles. These costs have been allocated betsveen Cost of ralslng funds and expenditure on charitable aclivilies. The bases on whlch support Costs h8V8 b88n alloca18d are set out in nol8 2.6 Tanglble fixed a888t8 T8nglble Oxed as88t5 ar8 me8sur8d at Cost net of d8pr8clatlon and 8ny impglrm8nt Ioss88. Depre¢iallon Is recognlsed so as lo wrlte off the cost or valuatlon of assets less their resldual values over Ihelr US8ful lives on the following b8888'. Land and bulldlngs Leasehold propertlo5 Furniture, fittings & equlpment Vehlc18S 2Yo straight Iln& basls Cyprus Improv8menls 10% slralght Ilne basls 10- 25% straight lin8 basis 20Y4 slraighl lin8 bas58 Fr8ehokl land is not depTec18t8d. The galn or loss arising on the dlsposal ol an asset Is del8rmlned as the dlfference belween the Sale proceeds and the carrylng value ol the asset, and Is recognlsed In the slaternenl ol financial aclivilie5. 16
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 A¢countlng pollcle5 Icontlnuedl 2.7 Flxed 8858t Inv8Strnents Listed inv&sttnent5 8r8 Inltlally rn8asured 8t transaction price excludlng transactlon costs, and are sUbqUentIY measured at fair value al each reporting date. Chang8s in fair v8lu8 are r8cognised in incom8 and exp8nditur9. Tr8n88CtiOn Wsts ar8 8XP8n88d to inc0rn8 and expendlturB as incuffed. The fixed ass8t investment loan is initlally mea8ur8d at C08t and subsequently measured at cost less any accurnulated impaimenl1055es. The investment Is assessed for impairrnent al each reporting dat8 and any ImpaSmient Ios898 or rev8r8als of impalrrngnl10s8es arg recognis8d Immedlately in incom6 and axpendltur6. 2.8 Impairment Of flxed assets Al 8ach reporting entj date. the charity reviews the carrylng amounts of its tangible assets to dg1grmin8 whether there is any indical¢on that those assets have suff8r8d an impaiTm8nt loss. If any such Indtation exists, the r2cover8ble amount of the asset Is estlmated In order to determlno the extent of the impalmient loss Ilf any). No such Indications were noted. 2.9 Sto¢k¥ Stocks are staled 81 the Iow8r of (x)St and 8slimatèd salling prfco lass costs to complele and sell. Cost ctsmprlses dlreot materlals and. where applicable. direct labour costs and those overheads th8t have been InCue in bringing the sio¢ks to their present location and condition. Items held for dlsl¥lbutlon at no or Twmlnal conskleratlon are measured at the lower of replacement cost and Cost. 2.10 Cash and eash equlvalents Cash and cash equalentS include cash in hand, deposits held at call with banks. other short-term Ilquld Investments with original waiuriti85 of thr8e rnonths or les5. and bank ov8rdrafts. Bank ovordrafts are shown withln borrowlngs In current Ilablllties. 2.11 Financial instruments The Company has elected lo apply the provisions of Section 11 'Basic Financial Instrurrienls. and StIOn 12 'Other Flnanclal Instruments Issues, of FRS 102 to all of its financial instrutnent5. Flnanclal Ingtruments aro recognised when the charity becornes party to th8 contractual proM5ions of th8 instrument. Baslc flnanGial assets Basic financial ass8ts. which include debtors and cash and bank balances, are inillally measured at transactlon prlee Includlng transacllon costs and are subsequently carried al amort188d cost Using th8 effective intere8t rnelhod unless th8 arrangement conslllutes È flnanelng transaellon. where the transaction Is ea5ur8d at the present value ol the future receipts dlscounted at a market rale of interest. Financial assets dassified as receivable within ong y99r aTe not arnortlsed. herflnanclal assets Other financial assets, including inv8slm8nts in 8quity instruments aT8 inttially measvred at fairvalue, whlch normally the transaction price. Such assets are subsequently carrled al falr value and the changes In fair value are recognised in nel incornellexpenditurel, except thal inv&stment5 In equity instruments that are not publicly Ir8d8d and whosè fair values cannot ba measured lIablY are measured al cost less impairmènt. 17-
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcl•s Icontlnuedl Impalmient of Ilnanolal assels Financial assets, other than those held at fair value through incorne and expenditure, are assessed for indicators of impairtnent al each repjrling dale. Financial as561s are impaired where thara is objecbvè evidence that. as a result of one or more events that occurred after the inilial rg¢ognilion of the financ481 asset, tho estimated fulur6 e8sh flows havè been affacled. 11 an asset Is Impalred, tha impalmienl loss is the dIfferen between the carrylng amounl and the present value ol the estimated c8sh fiows discounted at the assel's original effective interest rate. The impairment loss is recognised in nel incomelloxpendllurel for the yea¥. 11 there Is a decrease In the Impalrment loss arlslng from an event occurrlng after the Impalrmenl was recognlsed, the impairment Is reversed. The reversal is Such that the current carrying arnount does not exceed what the carrylng amount would have been, had the Impalrment not prevlously been re¢ognlsed. The impalrm&nt r8v9rsal is r8cognised in net incornellexpenditurel for the year. Derecognltlon gf ffnanc181 assets Flnanclal assets are derecognised orily when the contractual rlghts to the cash flows from the 85set explre or are settled, or when the ¢harlty Iranslers the flnanclal asset and subslantlally all the rlsks and rewards of owner5hlp to another entity, or If sorne significant risks and rewards of ownershlp Are taIned but control tsl the a$$et has transferred lo another party Ihat is ablg to sell the as$8t in it8 entirety lo an unrdaled third party. 88slc flnancl81118bllltles Basic financial liabilities. including trad8 and oth8r p8yable5. 8r8 init1811y r8cogni58d at Ir8nsaclion price unless the arrangement conslllutes a financing Iransaclion, where the debt instrument is measured al the pr888llt value of lh8 future r8C8ipts discounted at 8 rnark8t rat8 of interest. Debt inslrutnent5 are yJb5equently carried at amortised cost, using the effgclive int9rest rale method. Trade payables are obligatbns lo pay lor goods or sorvlc88 that hav8 been arqulrgd In the ordlnary COkJfs9 01 operalion5 from suppliors. Accounts payable are classified as current Ilabllilie5 If payrnent Ss due wlthln one year or less. 11 not. they are presented as non-current Ilablllligs. Trade payables are rgcognlsed Inllially al tran5actlon and subsequently measured at amortised cost uslng the effe¢llve interest method. Othernnanclal Ilabllltles Derivatives, includlng Interest rale swaps and loNard foreign exchange contracts, are not basic financial instrutn8nls. Derivatives ar8 initially r8cogni8ed al falr valua on th8 date 8 d8rivatlV8 contract15 8nlered Into and are subsequently re-measured at their lair value. Changes in the fair value ol derivatives are re¢ognised in or in finance cosls or fina[ Incotne 35 8ppropriale, unles5 hEdge accounting is applied and the hBdge 8 cash flow hedge. Derecognltlon of IlnanGlal Ilabllllles Financial lialitIeS are derecognised whgn the charit18 contractual obligations expire OT are diharged or C8nc8lled. 2.12 Employeè benefits The costs ol short-tem omployee benefits are recognlGed as a Ilablllty atvj an expense. unless Ihc6e Costs ar8 requir8d to b@ rocognised as part of the cost ol stock orfixed assets. The cost of any unusod holld8y 8ntlllement Is recognlsed In the perf(Kl In whlch the ernployee's servlces are receSved. Terminallon benefits are ¥ecognlsed Immedla¢ely as an expertse when the company 1$ dernonstrably comrnlllad to terrnlnal8 the 8rnployment of an employee or to provlde termlnetlon beneflts. 18-
CHURCH OF ENGLAND SOLDIERS., SAILORS. &AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcl*s Icontlnuedl 2.13 Rellrement beneflts Payments to defined conlributSon rellrement benefit schemes arg ch8tgod as an expens& as they fall due. 2.14 Forèlgn exchang Transacllons denomlnated In forelgn rrencIeS are recorded at the rat8 iuling at thg d816 of thè transactlon. Monetary assets and Ilabllllles denomlnated In forelgn currencles are translated into sterling at the ral69 of exchang8 ruling at the balance sheet date. All dlfferences are Included In net outgoing resources. 2.15 Taxallon CESSAC is a regisiered ch8rily and is not subiecl to taxalion on income. Any income tax recovered on inveslrnent Income and covenanted subscrlptlons Is included with the respective Inrne. 2.16 Government Grants Governffl8nt grants 8r8 rocognlsed al the falr value of Ihe asset recelved or re¢givabl8 wh8n th8r8 15 reasonable assurance that the grant conditions will b8 rnet and the grants wlll be recelved. Government grants relating lo turnover, induding the Coronavirus Job Retentlon S¢heme And other Coronavbrus r818led 8uppDrt ar8 r8cognb5ed a8 Incoma over the perlods when the related costs are incurr9d. Investmonts Unrg$trlc18d UnT88tricted funds fvnds 2022 2021 Incorne from1Ssted Investments Interest rocgivab19 102,681 320 101,347 162 103.001 101,509 Voluntary Incom• Unrestrlcted Rgslrlct8d funds funds Total Unrestricled funds 2022 2022 2022 2021 Donatlons and glfts Government grènis Other grants 2,111 3,867 11,069 2,111 3.86Y 35.369 376 65.004 24,300 17,047 24,300 41.347 65.380 19
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Voluntary Income IContlnu8dl Gov8rnm8nt grant5 recglvad Coronavlrus Job Retention Scheme granl Discretlonary Covid-19 grants 40,868 24,136 3,887 3.867 3,867 3.867 65,004 Charltabl$ actlvltl&$ Supportlng HM Centrès In Forces In the Cyprus LIK ¥rtd¥upportlng H ovèrseas Forcbs overseas Tot&lSupportlng HM Contres In 2022 Forcvs In thg Cyprus UK andgupportlng HM ovorsoas Force5 overspas Total 2021 2022 2D22 2021 2021 Sales within charitab18 actlvltles Other Income 194,387 296 474,751 16,920 669,138 17,216 112,010 397 297,234 465 409,244 862 194,683 491,671 686,354 112,407 297,699 410.1C Charitable trading income Incoming r8sources d8riV8 frorn UK and overseas activities plus Income frotn ch8dlable trading activltes derSvlng from CESSAC C9ntres In Cyprus sppOrting HM Forc9$ oveiseas. oth8r Income Unrestrlc19d Unreslrlcted funds funds 2022 2021 Net galn on dlsposal of langSlle fixed assets Management fees and office rent 1,594 99,524 93,473 101,118 93,473 Ralslng fund3 2022 2021 Inveslmenl m8n8gem8nt 7,970 7,813 -20-
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charltablè actlvllles Supportlng Centros In HM Forces Cyprus In the UK supportlng and HM Forces ovaisoas ovèrseas 2022 2022 Total Supporting Cantrès In 2022 HM Forces Cyprus In tho UK supporting and HM Forces overseas overs8a5 Total 2021 2021 2021 Staff costs DeprecSatlon and impaiTm6nl Cost of suppliES Op@r8ting etssts 185.843 204,861 390,704 144,198 139,664 283,862 5,763 72.000 35,098 14.197 215.036 138,268 19,960 287,036 173,366 3,288 38,422 31.578 12,167 172.592 70.537 15,455 211,014 102,115 298,704 572,362 871,066 217,486 394.960 612.446 Grant funding of activitTes Isee nola 101 421 421 11 Share of support costs (see not8 9} Share ofgovernance costs 15e6 note 91 91,425 51,178 142,603 86.350 47.461 133,811 14,033 19,380 33.413 12.520 17,288 29,80B 404,162 643.341 1,047,503 316,356 459,720 776,076 Analys18 by fund Unr8stricled funds Reslrfcled funds 392,488 11.674 e43,341 1,035,829 11,674 316.356 459.720 776.076 404,162 643,341 1,047,503 316,356 459,720 776,076 21
CHURCH OF ENGLAND SOLDIERS., SAILORS, & AIRIVIEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Support costs Support Governance costs costs 2022 Support Gov$rnaneo co$ts costs 2021 Staff costs Depreciation Head Offi costs 121,753 202 20,648 23,191 38 144,944 240 20,648 116.397 202 17.212 22,171 38 138.568 240 17.212 Audit Iges Legal and professional Committe8 costs and expensos 4,353 4,822 4,353 4,822 3,970 3,063 3.970 3.063 1.009 1.009 586 142,603 33.413 176,016 133,811 29,808 163,819 Analysed belwe8n ChaFitablè act[lIS 142.603 33.413 176,018 133,811 29,808 163,819 The charfty Initlally Idenllfles the costs ol Its support functlons. 11 then identifies those costs which relate lo the governance function. Having identified its govern8nce costs, the remaining support Costs together wEth Ihe governance costs a apportioned between the charitable activities undertaken in the y8ar. 10 Grants payable CESSAC mad8 th8 following principal donations in Ihe UK-. Grants lo CESSA HA tenan15 for Chrislrnas voucher51social functlons- 2022.. rJ,29612021'. £3,984). Annual grant to a sponsored ordinand- 2022- £77812021.. £7071 CESSAC Cyprus made the following donatlons.. Varlous smaller donallons 2022.. Detalls Amount Donation ol Christmas sweets for Episkopi Chri$lmgs Market Donation of Christmas swe8ts for BFBS radio comp8tilion Donatlon ol Chiistrna5 sweets for Dhekella Station Donation lo Akrolirl welfare funds- new corn machine Total 30 30 15 400 475 12021.. E131 11 Councll M•mbers None of the Councll members lor any persons connected wilh them) r8C8ived any remun8ration during the year, but 5 of them were relrnbur5ed & total of £530 tr8velllng expenses12021- 5 were relmbursed £2891. -22-
CHURCH OF ENGLAND SOLDIERS,, SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 12 Net galn5111055851 on inv85tmonts Unre$lrl¢ted Unreslri¢ted funds funds 2022 2021 Revaluallon of inveslrnenls Gainlllossl on sal& ol investments 1403,0631 16,6431 304.783 3.848 1409.7061 308,631 -23-
CHURCH OF ENGLAND SOLDIERS., SAILORS, & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEniBER 2022 13 Efflploy8es Number of 8mployeos Th8 8v8rage [TnthlY numb8r ol employee5 duilng th6 yoar was.. 2022 Numbor 2021 Numb•r Full tim6 (UK & FI) Part time (UK & FI) Full tlle ICypru51 Part tima (Cyprusl 10 14 14 29 EmploymerTt costs 2022 2021 Wages and salaries Social se¢urily costs Other penslon costs 487.663 32.483 15.502 388,284 19,913 14,233 535.648 422,430 Chlef Executlve Remuneratlon The Chlef Executlve, the only Senlor Executbve, Is one of the members ol Slaff jointly employgd wllh a related paty. Church of England Soldiers,, Sailors, arTrd Airrnen's Housing AS5oaaOn Ltd (the 'assctlalion'l. The Chlef Executlve Is not a Dlreclor, but was an ordinary member of th8 association's d8flned contribution pension scheme (The Soci81 Housing PeN5ion Schetne adrnini5tered by The Penslon Trust) Garryillg no speclal terms. He has no other Indlvldual p9nsion arrangement to whlch &llh8r entlly tnake5 a contrlbution. Th8 main output5 01 the two entitles are.. CESSAC'S Charity Cenlres.. and sheltered housing. The latter encompasses scherngs beloriglng lo the a8soclation and Ihos8 manag8d by CESSAC for Gre8nwich H05pilal. The division ol the costs lor all jolnl employees Is regularly reassessed in proportion to the value ol conlributlon to eaoh enllly. Th8 2019 r8-ass8SStnenl of the 8haie of such costs led lo CEO'S b6lng 50Yo each lor 2020 to the a55oclallon and to CESSAC. Thls resulted in the share of costs below 18x¢luding nalional insurance conlribulionsl.. 2022 £37,948 £37,949 £75,897 £3,795 £3,795 £7,590 2021 £37.113 £37.113 £74,226 £3,711 £3,711 £7.422 CESSAC ErnoluTrent5 Associalion Emoluffl8rils Total Emoluments CESSAC pension eornlrlbution ssociatioTr pension contribution Tot81 8nsion contribullons Th8re were no etntAoyees whose annuBI remunerÈlon was £60.000 or more. -24-
CHURCH OF ENGLAND SOLDIERS,, SAILORS. &AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 14 Other Unrestrl¢tod Unreslricled funds fLinds 2022 2021 Net loss on disposal ol tangib18 fixed a5S8ts 1,200 794 1.200 794 15 Taxatlon No charge to Corporation t8x arises on thg results for the year. 16 Transfers The transfer between restricted and unreslrfcted funds represents the restrictèd funds sp8nt on fixed ass81 aisdibons. 17 Tangible flxèd ass•ts Land and bulldlngs LfroBehold proportles Fvrnlturo. ttlng5 a è4ulpmont Vtthlclos Total Cost At 1 JanuBry 2022 Additions Dlsposa15 Exchange adlustments 12,000 253,072 168,447 33,668 39,042 6,500 117,2751 {12,8551 5.492 1,623 467,187 45.542 13D,1301 20,952 13,837 At 31 D8C8mb8r 2022 12,(K)O 266.909 195.7 28.936 503,551 D•prèeiatlon and Impalmient At 1 January 2022 Depreclatlon charged In the year Elimlnated in rpspect tsl disposals Exchange 3dlu5tment5 4,560 240 249,354 2,561 121,430 16,099 117,275) 3.341 32.468 1,300 111,6551 1,623 407,812 20,200 128,9301 18,596 13,632 At 31 December 2022 4,800 265,547 123.595 23,736 417,676 Carrying amount At 31 December 2022 7,200 1,362 72,111 5,200 85,873 At 31 D8C8mb8r 2021 7,440 3.718 47.017 1,200 59,375 -25-
CHURCH OF ENGLAND SOLDIERS,, SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 18 Other galns or losses Unrestrlc¢od Unrestrlcled fund$ funds 2022 2021 FoTgign exchange Ilossgsygalns 6,543 116,5141 19 FSx?d a$sg1 Inve$lm8nts Llslgd investments Cost or valuation At 1 January 2022 Additions Valuation changes Disposals 3.280,429 88,561 1403,0631 1142,7551 Al 31 Decernber 2022 2.823,172 Carrying amount At 31 Decernber 2022 2,823,172 Al 31 December 2021 3,280,429 Flxed asset Investments revalued Listed investments include an investrngnt rx)rtfolio man8g8d by Ch8rfe8 Stsn18y and 8n Armed Forc88 CoFnrnon Invasttnenl Fund rnanaged by Black Rock and are InGluded on the basis of market value, wllh an hlstorfcal cost of £2,576.808 {2021 £2,435,209>. 20 Stock8 2022 2021 Finl8h8d goods 8nd good8 for r8s8 53,198 65,094 -28-
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 21 D8btor5 2022 2021 Amounts falling due within one ygar- Trad8 d8btors Olh8r d8biois Prgpaym8nts and accrued incorn8 600 2,625 28,960 31,949 31.949 32,185 22 Flnanclal Instruments 2022 2021 Carrylng amount of flnanctal assets Instruments measured at lair value through profil or loss 2,823.172 3,280,429 23 Crodltors: amounts falllng dug wlthln one year 2022 2021 NotOS Othèr 18xation and social sacurity Govemrnent gffdnts Trade creditors oth8r creditors Accru818 8nd defe8d incom¢ 18,172 2,435 44,918 92 52,866 11,357 24 19,856 45,007 118.303 76,222 24 Govgrnment grant6 The deferred grant relates lo a grant r8C8ived in 2022 from Episkopi station for purcha59 of various fLXtur8S and fithngs of which £2.435 was utillzed in 2023. Deferred Income Is Induded In the financlal statements as follows.. 2022 2021 Deferred income is included within.. Current liabilities 2.435 Movements in the year.. Deferred income a11 J8nuary 2022 Released from previous periods Resources deferred in the year 4,524 14.5241 2.435 Deferred income at 31 Decemb9r 2022 2.435 -27-
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 25 Rgstrlcted funds The Incomo funds of the charlty includ8 restrict8d funds cornprislng lh8 followSng unexponded balances of donatlons and grants held on trust for speoific purposes: Movement In fund5 Incomlng Balanco at resources1 January 2022 Movement In fvnds Incomlng resources Rgsourcos exppndgd Yran$fgr5 alance at 31 P•c&mbor 2022 ACEST 24,300 111,6741 14,0001 8,626 AGEST provided two grants to CESSAC during the year to COV8r th8 purchase of a new (x)ffeB machine and for some refurblshmenvupgrade works Bt Blandford. 26 Deslgnated funds The Income funds of th8 charlly Include the followlng deslgnated funds wh5ch have b8en sel 881d8 out of unr8slricled funds by th8 trustees lor specific purposes.. Mowment In fund IncomlThg alanc• at rosourco51 January 2022 BAlanco at l January2021 Transfor5 B&lanco at 31 Dpc9mbpr 2022 Operatlng cost erve Caplial fund for future opportunllles 1,020,000 2,588,303 1,020,000 178,300 2,766,603 1,020,000 1536,6421 2,229,961 3,608,303 178,300 3,786,603 1536.6421 3.249,961 Reserves have been eslablish8d as follows.. An operating cost res8rv8 equal lo nin8 months. charitable activily l£1.020,OQXJI. Acapital fund for future opportunllles and investment. 27 Analysls of net assèts between funds Unrestrlcted ReBtTlcted fund5 fund5 2022 2022 Tot81 Unr8strlcted funds 2021 2022 Fund b818nce8 8t 31 Dec8mber 2022 are represented by.. Tangible assets Investments Curronl asselsllllabilllles) 85,873 2,823.172 340.916 85.873 2.823,172 349,542 59.375 3.280.429 446,799 8.626 3,249.961 8,626 3,258.587 3.786.603 -28-
CHURCH OF ENGLAND SOLDIERS., SAILORS. & AIRMEN'S CLUBS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Related party transactions There wer8 no disdosab18 relat8d p8rty Irarnsaclions during the year12021- nDn81. 29 Cash generated from operations 2022 2021 IDefi¢itysurpus for the y88r 1534,5591 194.416 Adluslment$ for. Investment income COgniSed in slalement of financlal acllvitles Foreign axchange dSfferences (Gainyloss on dlsposal of tangible fixed assets L0s51lgalnl on dlsposal ol Investments Fair valu8 galns and 105se5 on investm8ntS Depreciwtlon and irnpairment of tangible fixed assets 1103,0011 4,486 13941 6,643 403.063 20.200 1101,5091 11,7791 794 13,8481 1304,7831 15,695 Mov8m8nts rn working capital.. D8cr8as8 in 5tock5 D8cr88S8 in d8btor8 Incr88S8lld8cr8aS81 in cr8ditor5 Increaselld8cr88s81 in d8f8rr8d incom8 8,583 649 42.247 2,435 56,062 16,242 110,8451 14,1981 Cash absorbed by op8ratlons 1149,6481 1143,7531 30 Analys1$ of ¢hange$ In net funds The charity had no debl during the year. -29-
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