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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|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|||||
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||||||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|||
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|||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||
##
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|||||||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|
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||||||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|
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|||||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|||
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|||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|
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||||||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|
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|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|
##
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|||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|
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|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|
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||||||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|
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||||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|
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