2022-03-31-accounts - Bfbs

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					Page
Reference and administrative			details	ofthe Charity, its Trustees and advisers
Trustees' report					2-17
Independent	auditor's	report	on the	financial statements	18-21
Consolidated	statement	offinancial		activities	22
Consolidated	balance sheet				23
Charity balance sheet					24
Consolidated	statement	ofcash flows			25
Notes to the	financial statements				26-45

Company	registered
number		00407270
Charity registered
number		233480
Registered	office	Chalfont Grove
		Narcot Lane
		Gerrards Cross
		Buckinghamshire
		SL98TN
Websites		www. bfbs.corn
		www. forces.net
Independent	auditor	Blick Rothenberg		Audit	LLP
		Chartered Accountants
		16Great Queen	Street
		Covent Garden
		London
		WC2B 5AH
Bankers		HSBC Bank pic
		65 Packhorse Road
		Gerrard Cross
		Bucks
		SL98PH
Solicitors		Bates Wells
		10Queens Street		Place
		London
		EC4R 1EY
		KLC Employment		Law	Consultants	LLP
		Mill Pool House
		Mill Lane
		Godalming
		Surrey
		GU7 1EY
Investment	managers
		BlackRock Investment			Managers
		12Throgmorton	Avenue
		EC2N 2DL
		M 8 G Investments
		10Fenchurch Avenue
		London
		EC3M 5AG
		Investec
		30 Gresham Street
		London
		EC2V 7QP

					Unrestricted	Total	Total
					funds	funds	funds
					2022	2022	2021
				Note	f000	f000	f000
Income from:
Charitable activities					26,662	26,662	26,303
Other trading activities					1,161	1,161	477
Investments					951	951	884
Total income					28,774	28,774	27,664
Resources expended
Trading expenses					388	388	10'I
Charitable activities:
Investment management		costs			152	152	147
Costs in respect ofcharitable			activities		29,203	29,203	27,733
Governance costs					213	213	203
Total resources expended					29,956	29,956	28, 184
Net expenditure before fair value movements					(1,182)	(1,182)	(520)
Fair value movements	on investments				2,451	2,451	6,842
Fair value movements	on foreign currency forward
contracts					114	114	(732)
Net movement in funds					1,383	1,383	5,590
Reconciliation offunds:
Total funds brought forward					36,174	36,174	30,584
Net movement in funds					1,383	1,383	5,590
Total funds carried forward					37,557	37,557	36,i74

					CONSOLIDATED	BALANCE SHEET
					AS AT 31	MARCH 2022
							2022		2021
					Note		f000		f000
Fixed assets
Tangible assets					10		4,382		5,519
Investments					11		31,411		28,960
							35,793		34,479
Current assets
Debtors					12	5,032		3,856
Investments	- bank		deposits			118		617
Cash at bank	and	in hand				492		1,956
						5,642		6,429
Creditors: amounts			falling due within		one
year					14	(3,878)		(4,734)
Net current assets							1,764		1,695
Total assets	less	current		liabilities			37,557		36,174
Total net assets							37,557		36,174
Charity funds
Restricted funds
Unrestricted	funds						37,557		36,174
Total funds							37,557		36,174

					2022		2021
			Note		f000		f000
Fixed assets
Tangible assets			10		4,382		5,519
Investments			11		31,411		28,960
					35,793		34,479
Current assets
Debtors			12	4,986		4,268
Investments				118		617
Cash at bank and	in hand			429		1,439
				5,533		6,324
Creditors: amounts	falling	due within one
year			14	(3,769)		(4,629)
Net current assets					1,764		1,695
Total assets less	current	liabilities			37,557		36,174
Total net assets					37,557		36,174
Charity funds
Restricted funds
Unrestricted funds					37„557		36,174
Total funds					37,557		36,174

					2022	2021
					8000	OOOO
Cash flows from operating	activities
Net expenditure before fair value		movements			(1,182)	(520)
Adjustments for:
Depreciation oftangible assets					1,450	1,574
(Profit)/loss on disposal oftangible		assets			(4)	139
Profit on disposal of investments					(5)	(5)
Dividends received					(951)	(884)
(Increase)/decrease in debtors					(1,062)	711
Decrease in creditors					(856)	(248)
Net cash (used in)/provided	by	operating	activities		(1,428)	1,287
Cash flows from investing	activities
Purchase oftangible fixed assets					(509)	(786)
Sale oftangible fixed assets					200	30
Purchase of investments						(392)
Sale of investments					5	385
Dividends received					951	884
Net cash provided by investing		activities			647	121
Change in cash and cash	equivalents in the year				(1,963)	888
Cash and cash equivalents	at the	beginning	ofthe year		2,573	1,685
Cash and cash equivalents	at the end of		the year		610	2,573
The notes on pages 26 to 45 form		part ofthese financial		statements

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		f000	f000	f000
Trading	income	1,161	1,161	477

							Unrestricted	Total	Total
							funds	funds	funds
							2022	2022	2021
							f000	8000	f000
Dividends	and	interest	receivable	from	fixed	asset
investments							951	951

						Support	Total
				Grants	Direct costs	costs	funds
				2022	2022	2022	2022
				f000	f000	f000	8.000
Costs paid	to external	parties	in respect of
charitable	activities				24,055	5,148	29,203
External grants made		in respect ofspecific
requests				245			245
				245	24,055	5,148	29,448
							Total
					Unrestricted	Total	funds
					funds	funds	(restated)
					2022	2022	2021
					OOOO	OOOO	f000
Staff costs					2,404	2,404	2,252
Depreciation					180	180	250
Other support costs					2,564	2,564	2,445
					5,148	5„148	4,947

					2022	2021
					f000	f000
Auditor's remuneration
Fees payable for the audit ofthe Charity's			and Group annual	accounts	27	37
Fees payable for taxation compliance		services			2	5
Fees payable for other services					6
Depreciation ofowned fixed assets	(excluding		buildings)		1,290	1,396
Depreciation of buildings					160	178
Hire of plant and machinery					38	20
Other operating leases					597	500
Foreign exchange loss/(gain)					28	(260)
Profit/(loss) on disposal oftangible	fixed	assets			(4)	139
Profit on disposal of investments					(5)	(5)
Trustee and employee costs					13,116	12,553

	Group	Group	Charity	Charity
	2022	2021	2022	2021
	8000	f000	f000	f000
Wages and salaries	11,261	10,830	11,261	10,830
Social security costs	1,124	1,029	1,124	1,029
Pension scheme contributions	731	696	731	696
	13,116	12,555	13,116	12,555

				Group	Group
				2022	2021
				No.	No.
Activities	in	furtherance	ofthe Charity's objects	247	238
Management		and administration		8	8
				255	246

				Group	Group
				2022	2021
				No.	No.
In	the	band	F60,001 - 670,000		10
In	the	band	f70,001 - 280,000		6
In	the	band	F80,001 - 690,000		2
In	the	band	290,001 - 6100,000		3
In	the	band	F100,001 - 2110,000
In	the	band	f110,001 - f120,000
In	the	band	F120,001 - 6130,000
In	the	band	6130,001 - f140,000
In	the	band	2140,001 - f150,000
In	the	band	f150,001 - F160,000

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		f000	f.000	OOOO
Royal Navy				13
Combined	Services Sports			130
Big Salute		14	14	34
Live Entertainment		123	123	14
Other grants made to the Forces		108	108	78
		245	245	269

					Assets
		Long-term	Short-term		under the
		leasehold	leasehold		course of
		property	property	Equipment	construction	Total
		f000	f000	OOOO	f000	f000
Cost
At 1 April	2021	1,914		15,291	346	17,557
Additions					509	509
Disposals					(196)	(196)
Transfers	between classes			205	(205)
At 31 March 2022		1,914		15,496	454	17,870
Depreciation
At 1 April	2021	577		11,455		12,038
Charge for the year		16		1,434		1,450
At 31 March 2022		593		12,889		13,488
Net book	value
At 31 March 2022		1 321		2,607		4,382
At 31 March 2021		1,337		3,836	346	5,519

Other inv	est	ments	are analysed as follows:
				2022	2021
				f000	f000
UK equities		(listed)		18,642	17,337
Overseas	equities		(listed)	12,432	11,523
Fixed interest and			cash	337	100
				31,411	28,960

		Group	Group	Charity	Charity
		2022	2021	2022	2021
		f000	f000	f000	f000
Due within one year
Trade debtors		3,335	701	3,191	681
Amounts owed by group undertakings				185	438
Other debtors			1		1
Prepayments	and accrued income	1,583	3,101	1,496	3,095
Fair value offoreign currency contracts		114	53	114	53
		5,032	3,856	4,986	4,268

Cash at ban	k and in hand
		Group	Group	Company	Company
		2022	2021	2022	2021
		f000	f000	8000	f000
Bank and cash balances		492	1,956	429	1,439
Bank overdrafts			(13)		(13)
Investments	- bank deposits	118	617	118	617
		610	2,560		2,043

			Group	Group	Charity	Charity
			2022	2021	2022	2021
			f000	f000	f000	OOOO
Bank overdrafts				13		13
Trade creditors			1,342	1,091	1,342	1,091
Other taxation	and social security		907	1,408	904	1,397
Other creditors			136	192	136	192
Accruals and deferred		income	1,493	2,030	1,387	1,936
			3,878	4,734	3,769	4,629

			Group	Group	Charity	Charity
			2022	2021	2022	2021
			f000	f000	f000	8000
Deferred	income	at start ofthe year	706	1,432	619	1,331
Amounts	recognised in the current year		(706)	(1,571)	(619)	(1,470)
Amounts	deferred	in the current year	556	845	455	758
Deferred	income	at the end ofthe year	556	706	455	619

					Group	Group	Charity	Charity
					2022	2021	2022	2021
					8000	f000	F000	f000
Financial		assets
Financial	assets measured		at	fair value
through	profit or loss				32,135	31,599	32,072	31,069
Financial	assets that are debt			instruments
measured		at amortised	cost		3,499	2,680	3,453	3,093
					35,634	34,279	35,525	34,162
					Group	Group	Charity	Charity
					2022	2021	2022	2021
					8000	f000	f000	f000
Financial		liabilities
Financial	liabilities measured			at fair value
through	profit or loss
Financial	liabilities that are debt instruments
measured		at amortised	cost		(2,415)	(2,607)	(2,410)	(2,600)
					(2,415)	(2,607)	(2,410)	(2,600)

Unrestri	cted funds - c	urrent year
						Balance at
		Balance at 1			Gainsl	31 March
		April 2021	Income	Expenditure	(Losses)	2022
		f000	f000	f000	OOOO	f000
General	funds	36,174	28,774	(29,955)	2,564	37,557

							Balance at
			Balance at			Transfers	31 March
		1	April 2020	Income	Expenditure	in/out	2021
			f000	f000	f000	f000	f000
General	funds		30,584	(520)	(732)	6,842	36,174

			Group	Group	Charity	Charity
			2022	2021	2022	2021
			f000	F000	f000	f000
Land and	Buildings
Not later than		1 year	419	388	419	388
Later than	1 year and not later than 5 years		1,463	1,478	1,463	1,478
Later than	5years		734	1,099	734	1,099
Other			2,616	2,965	2,616	2,965
Not later than		1 year	70	72	70	72
Later than	1 year and not later than 5 years		42	60	42	60
			2,728	3,097	2,728	3,097