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 ExecU￿ve 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 pre￿￿t 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 re￿1Ve￿ 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
a￿1VitieS 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
poli￿eS 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 ￿leva￿te 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 LInU5￿￿1 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 repai￿1MproV￿rnents 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 cur￿nt
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 wnSide￿d 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 polIc￿s.
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 C￿oPted 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 c￿8. 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 ￿M￿neratIOn 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 chari￿le 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 SIgn￿can1 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 lo￿al 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 $8rvlng In H.M,
Forces.. Thls Is achieved by working wlth Servl¢e Chaplain5 wherever posslble, wllhout impTrnglng on the non.
r6llgious nature of the c8ntr88. 11 includgs off8ring 8 grant to help 8ervlc8-spon80red ordlnands (Note 101.
Illll'To r?1Sev& persons who have served In H.M. Forces ancl the dependanls of suoh persons as are In need of
assistance Including the provisSon and rnanagement of housing.. Thls alrn is cl8ar and currently largdy, bul not
exclusively, delivered Ihrough the asslslance provlded to CESSA Houslng AssocialSon & GHSH.
livl 'To prornote the efficiency of H.M. Forces by the provision of facilities and equipment for education81,
recreatlon and leSsure pursulls lor those servlng In H.M. Forces, whether al Church of England sold￿r$,,
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￿ wh￿h 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 requI￿S 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 cOn￿M 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 the￿on. 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$ponsibilili8s, th8 Council rn8mber5. who are also
the directors of the charlty for the purpose of company law, are ￿sponsIble for the p￿paratiOn of the fflnancl81
slalements and for bglng satisfied that they giv6 a true and falr vlew, and for such Int8mal contiiA as the Councll
rnemb8TS d8termlne Is The￿$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 speC￿C 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 con￿M￿ng..
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 conSide￿d 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 ]den￿fY 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.
Corrobo￿ting 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 othe￿ise 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 ongoi￿9 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 per1￿18 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.
POrtSm￿th, Hampshire. P012RH.
2.1 Ac¢ountln9 ¢onv8ntlon
The a￿oUnts 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, M￿lfied 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 deS￿rnated 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 d￿trIbutIOn.
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.
In￿me 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
sUb￿qUentIY 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
InCu￿e￿ 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 equ￿alentS 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 S￿tIOn 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$8t in it8 entirety lo an unrdaled third party.
88slc flnancl81118bllltles
Basic financial liabilities. including trad8 and oth8r p8yable5. 8r8 init1811y r8cogni58d at Ir8nsaclion price
unless the arrangement conslllutes a financing Iransaclion, where the debt instrument is measured al the
pr888llt value of lh8 future r8C8ipts discounted at 8 rnark8t rat8 of interest. Debt inslrutnent5 are yJb5equently
carried at amortised cost, using the effgclive int9rest rale method.
Trade payables are obligatbns lo pay lor goods or sorvlc88 that hav8 been arqulrgd In the ordlnary COkJfs9 01
operalion5 from suppliors. Accounts payable are classified as current Ilabllilie5 If payrnent Ss due wlthln one
year or less. 11 not. they are presented as non-current Ilablllligs. Trade payables are rgcognlsed Inllially al
tran5actlon and subsequently measured at amortised cost uslng the effe¢llve interest method.
Othernnanclal Ilabllltles
Derivatives, includlng Interest rale swaps and loNard foreign exchange contracts, are not basic financial
instrutn8nls. Derivatives ar8 initially r8cogni8ed al falr valua on th8 date 8 d8rivatlV8 contract15 8nlered Into
and are subsequently re-measured at their lair value. Changes in the fair value ol derivatives are re¢ognised
in or in finance cosls or fina[￿ Incotne 35 8ppropriale, unles5 hEdge accounting is applied and the hBdge 8
cash flow hedge.
Derecognltlon of IlnanGlal Ilabllllles
Financial lia￿litIeS are derecognised whgn the charit18 contractual obligations expire OT are di￿harged or
C8nc8lled.
2.12 Employeè benefits
The costs ol short-tem omployee benefits are recognlGed as a Ilablllty atvj an expense. unless Ihc6e Costs
ar8 requir8d to b@ rocognised as part of the cost ol stock orfixed assets.
The cost of any unusod holld8y 8ntlllement Is recognlsed In the perf(Kl In whlch the ernployee's servlces are
receSved.
Terminallon benefits are ¥ecognlsed Immedla¢ely as an expertse when the company 1$ 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 In￿rne.
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 s￿ppOrting 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￿[lI￿S
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 [T￿nthlY 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 AS5oaa￿On 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 defe￿8d 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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