Trustees' Annual Report for the period
Period start date Day Month Year 01 01 2022
To
Period end date
Day Month Year 31 12 2022
Section A Reference and administration details
Branch name
RAFA Cheltenham Branch
(referred to hereinafter as either the “Branch” or the “Charity”)
Other names / number Branch is known by
Registered charity number (if any) 231667
| Branch's principal address | 1 Royal Crescent |
||
| Cheltenham | |||
| Postcode | GL50 3DA |
Names of the Branch charity trustees who manage the charity (generally known as the Branch Committee)
| 1 2 3 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
| Mike Bryant | Chair | |||
| Angela Hawley | Secretary | |||
| Rick Oldham | Treasurer |
| 4 5 6 7 8 9 |
Moyne Blake | Branch Welfare Officer, Wings Appeal Organiser |
||
| Keith Baalham | Membership Officer | |||
| Dermot McCarthy | Building Custodian | Until March 2022 | ||
| John Welham | Building Custodian | From March 2022 | ||
| Sir Dusty Miller | Branch President | Until March 2022 | ||
| Nick Price | Member | From September 2022 | ||
| Steve Poulton | Member | From December 2022 |
Names of any other trustees for the Branch (for example, any custodian trustees in relation to branch property)
Name Dates acted if not for whole year
Names and addresses of advisers (Optional information)
| Type of adviser | Name | Address |
| RAFALO | Sgt Andy Molloy | Via MoD |
| Property manager | David Turner | Young and Gilling First Floor Suite, 1 Royal Crescent, Cheltenham, GL50 3DA |
| RAFA HQ, Leicester | ||
| RAFA Branch Relationship and Engagement Officer |
Charlotte McGuin |
Section B Structure, governance and management
Description of the branch’s trusts
Royal Charter, Rules, Byelaws, Area and Branch Regulations of the Type of governing document Royal Air Forces Association. (e.g. trust deed, constitution)
Unincorporated Association. How the Branch charity is constituted
(e.g. trust, association, company)
Trustee selection methods
Elected by the branch membership.
(e.g. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
• policies and procedures adopted for the induction and training of trustees;
• the branch’s organisational structure and any wider network with which the charity works;
• relationship with any related parties (including branch club);
• trustees’ consideration of major risks and the system and procedures to manage them.
Charity’s organisational structure
The charity is a branch of the Royal Air Forces Association which is a Royal Charter body and registered as a charity in England and Wales under number 226686 and in Scotland under SC037673 (“the Association”). The Association has many branches all of which share the same charitable object as the Association and are subject to the same constitution.
Related party relationships
The Branch premises are used under a licence from the Branch by the Cheltenham Guardians from Saturday evenings until early Sunday mornings. The Guardians provide security and safeguarding services to vulnerable young people in the Cheltenham evening and night time economy. The Branch’s partnership with the Guardians is in furtherance of an approach to extend its reach further into the community, build networks, develop its influence, work closely with other charities, engage with partner organisations, raise its profile and earn community goodwill. In this, it has been very successful. The Branch Welfare Officer also belongs to the Royal British Legion and helps coordinate welfare activities between the 2 charities.
Good working relationships have been established with Armed Forces Champions at Gloucestershire County Council and Cheltenham Borough Council. The Branch is actively engaged with the county-wide Armed Forces Covenant Partnership in a project to develop an Armed Forces Hub. The RAFALO team set up a Wings Appeal display at a local government agency to highlight the work of the Branch and collect donations. This realised the sum of £325.
Risk management
The Branch has a Strategic Plan that was reviewed during the year and is due to be renewed or replaced in February 2023. The Branch also has a Personal Information Protection Policy and various other policies or protocols to underpin good governance.
Section C Objectives and activities
Summary of the objects of the branch set out in its governing document
To promote, through the comradeship engendered by its members, the welfare by charitable means of all serving and former members of Her Majesty’s Air Forces, their spouses and dependents, together with the widows and widowers and dependents of those who died whilst serving or subsequently.
Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
Branch members participated in local ceremonies and functions to mark Armed Forces Day, the Withdrawal From Aden and Remembrance Day. The period of National Mourning following the death of Her Majesty The Queen precluded holding the customary Parade and Service to commemorate the Battle of Britain but the Branch President and Branch Chairman joined the Chairman of the local Royal British Legion branch in laying wreaths at the town War Memorial. The RAFALO, who acts as the Branch standard bearer, together with members of the committee continued to support local military and RAFassociated functions. Thursday Wings coffee mornings continued throughout the year and this weekly event continues to provide an important meeting venue for a small group of ageing veterans. The Branch Aviation History Group meets on alternate Thursdays in the Branch lounge. The Branch continues to support the RAFA HQ OP CONNECT initiative. Of particular note, the Branch donated in tranches a total of over £12,000 to the Association’s project to convert its Rothbury House into a residential home for RAF veterans. The Branch also donated £2000 to the Association’s Wings Appeal. The Branch Welfare Officer provided support for members in the local area needing stair lifts and mobility scooters and advice on benefit entitlements. The Branch Committee continued to employ a sympathetic policy towards rent payments from commercial and residential tenants in the RAFA premises for the duration of Covid-19 restrictions, but income was maintained for the most part from all tenants. The Branch Committee held regular Zoom committee meetings since Covid-19 restrictions were introduced and also held an AGM by Zoom on 3 March 2022. Subsequently, monthly Committee meetings were physical ones. The Branch committee held a social event to commemorate the 100th birthday of one of its beneficiaries and, in addition, held a series of ‘Sandwich Lunches’ and ran a Quiz Night – all aimed primarily at combatting loneliness and social isolation amongst Branch members and beneficiaries. The Branch President and Branch Chairman participated in the unveiling ceremony for a memorial to the mixed Canadian and British crew of a Halifax bomber that crashed near Cheltenham during World War 2.
Additional details of objectives and activities (Optional information)
You may choose to include further statements, where relevant, about: • policy on grant making; • policy programme related investment; • contribution made by volunteers.
The Branch committee has continued to provide financial support to local RAF Air Cadet Squadrons in the form of grants for specific projects and activities.
Section D Achievements and performance
| Summary of the main achievements of the branch during the year |
The main activity undertaken by the Branch this year has been to continue the process of corporate recovery from the Covid-19 pandemic and its consequences. The Committee recognised that it was well-placed to provide friendship and comradeship to Branch members and beneficiaries, and to alleviate their loneliness and social isolation. Many of the items set out in the“Summaryof the main activities”section above were in explicit support to this focus. Further maintenance and refurbishment on the premises was carried out throughout the year. The Branch Committee discussed resolutions for the Association Area and National Conferences and provided voting guidance to the Branch Conference Delegate. He attended both Conferences and reported back to the Committee. The Branch Committee has continued to engage with its members by a variety of measures including frequent e-Newsletters, posts on the Branch web site, the Thursday morning Wings Café and phone calls. In the absence of an Association on-line forum for members of this and other Branches to exchange views and information, a Branch Facebook page has been created and, to facilitate use of this and other digital media, a broadband wifi service has been set up in the Branch premises. |
||
| Section E | Financial review | ||
| Brief statement of thebranch’s policy on reserves Details of any funds materially in deficit Further financial review details |
|||
| With approved planned expenditure the Branch had approximately £97,000 in its accounts at the end of 2022 against an estimated required reserve of £97,000. However, the Branch Building Custodian along with our Building Management Agent is undertaking a major review of essential projects for the whole building that will need to be funded. It is anticipated that Branch funds will approach the reserve figure by the end of 2023 |
|||
| No funds are in deficit | |||
| (Optional information) |
The Branch premises contain commercial and residential units that are You may choose to include leased out and when fully occupied generate a gross income of about additional information, where £50.5k per annum. relevant about: • the branch’s principal The net income after management fees, maintenance, cleaning, sources of funds (including any insurance, utilities and Council Tax are deducted falls to about £16k per fundraising); annum. • how expenditure has supported the key objectives of In December 22 the Branch Account held £97,005 and the Welfare Fund the branch; held £7,046. • investment policy and The cost of the maintenance and refurbishment work for 2022 to date has objectives including any ethical been £15,641 and further expenditure of £17,500 to address damp in the investment policy adopted. Rissington Room and the Main Building entrance and stairs has also been approved. Expenditure on the Branch area of the building will be directed towards essential maintenance, upgrading the kitchen and the improvement of disabled facilities for the convenience and enjoyment of all Branch members.
Section F Other optional information
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the branch’s trustees
Signature(s)
Full name(s)
Full name(s) Michael K Bryant Position (eg Secretary, Branch Chairman Chair, etc)
Date 14 January 2022
Royal Air Forces Association Cheltenham Branch 1 Royal Crescent Cheltenham GL50 3DA 01242 524384 rafa.org.uk/cheltenham rafacheltenham@gmail.com
2 February 2023
ACCOUNTS OF THE CHELTENHAM BRANCH R.A.F. ASSOCIATION FOR THE YEAR ENDING 31 DECEMBER 2022
Mr Oldham has provided the following report to AGM 2023:
Our General Account balance on 31 December 2022 stood at £97,004. We started the year with £79,153 therefore an overall increase in the current account of £17,852 from 2021 which was predominantly due to property rental income.
Our main income is from rents; we have two flats, two offices and Car Park spaces. We use Young and Gilling, Estate Agents as our agents and they arrange all lettings, investigations and repairs to the property. There is an outstanding amount from a tenant managed by Young and Gilling totalling £1,000 which is under review and should be cleared during early 2023. Our other regular annual income is from our rebate from Membership fees from HQ RAFA for 2021 which totalled £1,042.
Our regular expenditure is for Management costs, Utilities, Cleaners, Security Alarms, Building Insurance, Auditor fees and general repairs and maintenance.
Our major expenditure in 2022 has been for routine maintenance and refurbishment totalling £15,641, Management Costs £8,715, Insurance £3,668, Utilities £5,621 and donations of £4,162. Treasurer and HWO expenses totalled £138 which included transport, stationery, IT and postage.
The Welfare account began the year with £18,541 and ended the year with £7,046 a decrease of £11,495 due in main from donations made to Rothbury House. Other expenses included BT Telephony costs of £220.
BRANCH RESERVES POLICY – 2023 RAFA Cheltenham Branch
This Branch agrees that it will hold no more than £100,000 in reserve at any given time. For this year we have set the reserves level at £97,000 which equates to two years average expenditure (£89,386), predicted expenditure against the building refurbishment (£45,500) and a total loss of expected membership rebate (£1042). The balance held on unrestricted funds at 31 December 2022 was £97,004.
The Branch holds a restricted fund (the Welfare Fund) as at 31 December 2022 of £7,046 of which £7,000 is entirely earmarked for hardship claims by qualifying members of the RAF Community. Should this fund become depleted to the extent that the Branch’s welfare activities were impacted, a grant would be sought from the RAF Benevolent Fund. This obviates the need for Reserves for Welfare.
REGISTERED CHARITY NUMBER: 231667
Report of the Trustees and
Unaudited Financial Statements
For The Year Ended 31 December 2022
for
Royal Air Forces Association Cheltenham
Royal Air Forces Association Cheltenham
Contents of the Financial Statements For The Year Ended 31 December 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
Royal Air Forces Association Cheltenham
Report of the Trustees For The Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity is a branch of the Royal Air Forces Association which is a Royal Charter Body and registered as a charity in England and Wales under number 226686 and in Scotland under SC037673 ("the Association"). The Association has many branches all of which share the same charitable object as the Association and are subject to the same constitution.
Related Party Relationships
The Branch premises are used under a licence from the Branch by the Cheltenham Guardians from Saturday evenings until early Sunday morning.The Guardians provide security and safeguarding services to vulnerable young people in the Cheltenham evening and night time economy.The Branch's partnership is in furtherance of an approach to extend its reach further into the community, build networks, develop its influence, work closely with other charities, engage with partner organisations, raise its profile and earn community goodwill. In this, it has been very successful.
The Branch Welfare Officer also belongs to the Royal British Legion and helps coordinate welfare activities between the 2 charities.
Good working relationships have been established with Armed Forces Champions at Gloucestershire County Council and Cheltenham Borough Council. The Branch is actively engaged with the countywide Armed Forces covenant Partnership in a project to develop an Armed Forces Hub.
The RAFALO team set up a Wings Appeal display at a local government agency to highlight the work of the Branch and collect donations. This realised the sum of £325.
Risk Management
The Branch has a Strategic Plan that was reviewed in February 2022 and is due to be renewed or replaced in February 2023.
The Branch also has a personal Information Protection Policy and various other policies or protocols to underpin good governance.
Objectives
To promote through the comradeship engendered by its members, the welfare by charitable means of all serving and former members of Her Majesty's Air Forces, their spouses and dependents, together with the widows and widowers and dependents of those who died whilst serving or subsequently
Public benefit
the Branch Committee has continued to provide financial support to local RAF Air Cadet Squadrons in the form of grants for specific projects and activities.
Page 1
Royal Air Forces Association Cheltenham
Report of the Trustees For The Year Ended 31 December 2022
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Branch members participated in local ceremonies and functions to mark Armed Forces Day, the Withdrawal From Aden and Remembrance Day. The period of National Mourning following the death of Her Majesty The Queen precluded holding the customary Parade and Service to commemorate the Battle of Britain but the Branch President and Branch Chairman joined the Chairman of the local Royal British Legion branch in laying wreaths at the town War Memorial.
The RAFALO, who acts as the Branch standard bearer, together with members of the committee continued to support local military and RAF-associated functions.
Thursday Wings coffee mornings continued throughout the year and this weekly event continues to provide an important meeting venue for a small group of ageing veterans.
The Branch Aviation History Group meets on alternate Thursdays in the Branch lounge.
The Branch continues to support the RAFA HQ OP CONNECT initiative.
Of particular note, the Branch donated in tranches a total of over £12,000 to the Association's project to convert its Rothbury House into a residential home for RAF veterans.
The Branch also donated £2000 to the Association's Wings Appeal.
The Branch Welfare Officer provided support for members in the local area needing stair lifts and mobility scooters and advice on benefit entitlements.
The Branch Committee continued to employ a sympathetic policy towards rent payments from commercial and residential tenants in the RAFA premises for the duration of Covid-19 restrictions, but income was maintained for the most part from all tenants.
The Branch Committee held regular Zoom committee meetings since Covid-19 restrictions were introduced and also held an AGM by Zoom on 3 March 2022. Subsequently, monthly Committee meetings were physical ones.
The Branch committee held a social event to commemorate the 100th birthday of one of its beneficiaries and, in addition, held a series of 'Sandwich Lunches' and ran a Quiz Night - all aimed primarily at combatting loneliness and social isolation amongst Branch members and beneficiaries.
The Branch President and Branch Chairman participated in the unveiling ceremony for a memorial to the mixed Canadian and British crew of a Halifax bomber that crashed near Cheltenham during World War 2.
The main activity undertaken by the Branch this year has been to continue the process of corporate recovery from the Covid-19 pandemic and its consequences.
The Committee recognised that it was well-placed to provide friendship and comradeship to Branch members and beneficiaries, and to alleviate their loneliness and social isolation. Many of the items set out in the "Summary of the main activities" section above were in explicit support to this focus.
Further maintenance and refurbishment on the premises was carried out throughout the year.
The Branch Committee discussed resolutions for the Association Area and National Conferences and provided voting guidance to the Branch Conference Delegate. He attended both Conferences and reported back to the Committee.
The Branch Committee has continued to engage with its members by a variety of measures including frequent e-Newsletters, posts on the Branch web site, the Thursday morning Wings Café, phone calls,occasional letters or a digital display in the Branch lounge.
Page 2
Royal Air Forces Association Cheltenham
Report of the Trustees For The Year Ended 31 December 2022
In the absence of an Association on-line forum for members of this and other Branches to exchange views and information, a Branch Facebook page has been created and, to facilitate use of this and other digital media, a broadband wifi service has been set up in the Branch premises.
The Branch premises contain commercial and residential units that are leased out and when fully occupied generate a gross income of about £50.5k per annum.
The net income after management fees, maintenance, cleaning, insurance, utilities and Council Tax are deducted falls to about £16k per annum.
In December 22 the Branch Account held £97,005 and the Welfare Fund held £7,046.
The cost of the maintenance and refurbishment work for 2022 to date has been £15,641 and further expenditure of £17,500 to address damp in the Rissington Room and the Main Building entrance and stairs has also been approved.
Expenditure on the Branch area of the building will be directed towards essential maintenance, upgrading the kitchen and the improvement of disabled facilities for the convenience and enjoyment of all Branch members.
FINANCIAL REVIEW
Reserves policy
With approved planned expenditure the Branch had approximately £97,000 in its accounts at the end of 2022 against an estimated required reserve of £97,000.
However, the Branch Building Custodian along with our Building Management Agent is undertaking a major review of essential projects for the whole building that will need to be funded. It is anticipated that Branch funds will approach the reserve figure by the end of 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
231667
Principal address
1 Royal Crescent Cheltenham Gloucestershire GL50 3DA
Trustees
A M Sir G A Miller KBE Branch President (resigned 31.3.22) Mr M K Bryant Branch Chairman Mr D McCarthy Building Custodian Vice Chairman (resigned 31.3.22) Mr R C Oldham Treasurer Mrs A Hawley Secretary Mr K Baalham Membership Officer Mrs M J Blake Welfare Officer Mr J Welham Building Custodian (appointed 1.3.22) N Price (appointed 1.9.22) S Poulton (appointed 1.12.22)
Independent Examiner
Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
Page 3
Royal Air Forces Association Cheltenham
Report of the Trustees For The Year Ended 31 December 2022
REFERENCE AND ADMINISTRATIVE DETAILS Advisers
RAFALO Sgt Andy Molloy Via MoD
Property manager David Turner Young and Gilling First Floor Suite, 1 Royal Crescent, Cheltenham, GL50 3DA
RAFA Branch Relationship and Engagement Officer Charlotte McGuin RAFA HQ, Leicester
Approved by order of the board of trustees on 15 January 2023 and signed on its behalf by:
Mr M K Bryant Branch Chairman - Trustee
Page 4
Independent Examiner's Report to the Trustees of Royal Air Forces Association Cheltenham
Independent examiner's report to the trustees of Royal Air Forces Association Cheltenham
I report to the charity trustees on my examination of the accounts of Royal Air Forces Association Cheltenham (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
P A Reynaert Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
3 March 2023
Page 5
Royal Air Forces Association Cheltenham
Statement of Financial Activities For The Year Ended 31 December 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,694 Charitable activities Branch Property 52,621 Investment income 2 - Total 55,315 EXPENDITURE ON Raising funds Raising donations and legacies 3 29 29 Charitable activities Welfare - Branch Property 30,035 Branch Activities 11,796 Total 41,860 NET INCOME/(EXPENDITURE) 13,455 RECONCILIATION OF FUNDS Total funds brought forward 167,070 TOTAL FUNDS CARRIED FORWARD 180,525 |
Restricted fund £ - - - - - - - - 11,495 11,495 (11,495) 18,541 7,046 |
31.12.22 Total funds £ 2,694 52,621 - 55,315 29 29 - 30,035 23,291 53,355 1,960 185,611 187,571 |
31.12.21 Total funds £ 11,244 - 37,582 48,826 - - 1,626 108,602 1,976 112,204 (63,378) 248,989 185,611 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
Royal Air Forces Association Cheltenham
Balance Sheet
31 December 2022
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 82,375 CURRENT ASSETS Stocks 7 350 Debtors 8 2,062 Cash at bank 97,005 99,417 CREDITORS Amounts falling due within one year 9 (1,267) NET CURRENT ASSETS 98,150 TOTAL ASSETS LESS CURRENT LIABILITIES 180,525 NET ASSETS 180,525 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - 7,046 7,046 - 7,046 7,046 7,046 |
31.12.22 Total funds £ 82,375 350 2,062 104,051 106,463 (1,267) 105,196 187,571 187,571 180,525 7,046 187,571 |
31.12.21 Total funds £ 84,558 350 3,789 97,694 101,833 (780) 101,053 185,611 185,611 167,070 18,541 185,611 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 3 March 2023 and were signed on its behalf by:
Mr M K Bryant Branch Chairman - Trustee
The notes form part of these financial statements
Page 7
Royal Air Forces Association Cheltenham
Notes to the Financial Statements
For The Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance Fixtures and fittings - 25% on reducing balance
The freehold property is shown in the balance sheet at cost which is so far below any market value that the trustees have not revalued it or sought to depreciate it on an annual basis.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 8
continued...
Royal Air Forces Association Cheltenham
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Rents received | - | 37,582 |
| RAISING DONATIONS AND LEGACIES | ||
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Sundries | 29 | - |
3. RAISING DONATIONS AND LEGACIES
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 10,725 Investment income 37,582 Total 48,307 EXPENDITURE ON Charitable activities Welfare - Branch Property 108,602 Branch Activities 1,976 Total 110,578 NET INCOME/(EXPENDITURE) (62,271) RECONCILIATION OF FUNDS Total funds brought forward 229,341 TOTAL FUNDS CARRIED FORWARD 167,070 |
Restricted fund £ 519 - 519 1,626 - - 1,626 (1,107) 19,648 18,541 |
Total funds £ 11,244 37,582 48,826 1,626 108,602 1,976 112,204 (63,378) 248,989 185,611 |
|---|---|---|
Page 9
continued...
Royal Air Forces Association Cheltenham
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
| 6. TANGIBLE FIXED ASSETS Fixtures Freehold Plant and and property machinery fittings £ £ £ COST At 1 January 2022 and 31 December 2022 73,731 4,008 34,198 DEPRECIATION At 1 January 2022 - 4,008 23,393 Charge for year - - 2,161 At 31 December 2022 - 4,008 25,554 NET BOOK VALUE At 31 December 2022 73,731 - 8,644 At 31 December 2021 73,731 - 10,805 7. STOCKS Stocks 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund 167,070 Restricted funds Welfare Fund 18,541 TOTAL FUNDS 185,611 |
Computer equipment £ 800 778 22 800 - 22 31.12.22 £ 350 31.12.22 £ 1,000 1,062 2,062 31.12.22 £ 1,267 Net movement in funds £ 13,455 (11,495) 1,960 |
Totals £ 112,737 28,179 2,183 30,362 82,375 84,558 31.12.21 £ 350 31.12.21 £ - 3,789 3,789 31.12.21 £ 780 At 31.12.22 £ 180,525 7,046 |
|---|---|---|
| 187,571 |
Page 10
continued...
Royal Air Forces Association Cheltenham
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 55,315 Restricted funds Welfare Fund - TOTAL FUNDS 55,315 Comparatives for movement in funds At 1.1.21 £ Unrestricted funds General fund 229,341 Restricted funds Welfare Fund 19,648 TOTAL FUNDS 248,989 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 48,307 Restricted funds Welfare Fund 519 TOTAL FUNDS 48,826 |
Resources Movement expended in funds £ £ (41,860) 13,455 (11,495) (11,495) (53,355) 1,960 Net movement At in funds 31.12.21 £ £ (62,271) 167,070 (1,107) 18,541 (63,378) 185,611 Resources Movement expended in funds £ £ (110,578) (62,271) (1,626) (1,107) (112,204) (63,378) |
|---|---|
Page 11
continued...
Royal Air Forces Association Cheltenham
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Welfare Fund TOTAL FUNDS |
At 1.1.21 £ 229,341 19,648 248,989 |
Net movement in funds £ (48,816) (12,602) (61,418) |
At 31.12.22 £ 180,525 7,046 |
|---|---|---|---|
| 187,571 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 103,622 | (152,438) | (48,816) |
| Restricted funds | |||
| Welfare Fund | 519 | (13,121) | (12,602) |
| TOTAL FUNDS | 104,141 | (165,559) | (61,418) |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
12. RESTRICTED FUNDS
The welfare fund is held in a separate bank account and is held to provide not only monetary support to the RAF Family but also for the provision of advice and welfare services.
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Royal Air Forces Association Cheltenham
| Detailed Statement of Financial Activities | ||
|---|---|---|
| For The Year Ended 31 December 2022 | ||
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Wings Appeal | 1,308 | 251 |
| Donations | 344 | 9,247 |
| RAF Benevolent Fund | - | 520 |
| Subscriptions | 1,042 | 1,226 |
| 2,694 | 11,244 | |
| Investment income | ||
| Rents received | - | 37,582 |
| Charitable activities | ||
| Rents on surplus property | 52,621 | - |
| Total incoming resources | 55,315 | 48,826 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Sundries | 29 | - |
| Charitable activities | ||
| Rates and water | 242 | 1,238 |
| Insurance | 3,940 | 2,595 |
| Light and heat | 6,478 | 1,994 |
| Postage and stationery | 132 | 39 |
| Rental expenses | 8,715 | 21,344 |
| Repairs | 359 | 245 |
| Property repairs | 8,993 | 78,937 |
| Subscriptions | 17 | 400 |
| Annual Conference | 338 | - |
| Secretarial expenses | 33 | 316 |
| Remembrance/Bof B day | 80 | 151 |
| Telephone | 5,895 | 532 |
| Welfare officer expenses | 95 | 144 |
| Social Activities | 704 | 695 |
| Plant and machinery | - | 186 |
| Fixtures and fittings | 2,161 | 1,428 |
| Computer equipment | 22 | 400 |
| Grants to institutions | 14,162 | - |
| Grants to individuals | - | 780 |
| 52,366 | 111,424 | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 960 | 780 |
| Total resources expended | 53,355 | 112,204 |
| Net income/(expenditure) | 1,960 | (63,378) |
This page does not form part of the statutory financial statements
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