REGISTERED COMPAhW NUMBER.. 329268 {England gnd Wale5) REGISTERED CHARITY NUMBER: 235708 SOLDIERS, AND AVIATORS. sciuwfuRE READERS ASSOCIATIOIY SASRA AUDITED FtNAYCIAL STATEMEN'TS FOR THE YEAR ENDED 31 DECEMBER 2024 Shaw Gibbs Audit Lid ?64 BanbuTN' Road Oxford O¥ford5hirc OX? 7DY
SASRA CONTEYTS OF THE FtS'AJ)'CIAL ST.4TF.]¥IF.NTS for the I'e#r ended 31 December 2024 Page Report of ihe Trnstees Report of the Independellt Auditor 10 to 13 Statement of Financial Aelivities 14 Balance Sheet 15 Cash Flow Statement 16 Notes to tbe Ch Flow Staiement 17 Notes to the FinaneA21 Statements 18 to 31 Detailed Statement of Financial Activities 32 to 34
SASRA REPORT OF THF. TRUSTF.ES for the year ended 31 Deeember 2024 The SASRA Trnst¢e% also bein? DireciOT5 of SASRA for the purposes of the Companies Act 2006. present their r¢port and audited financial statements for ihc )'ar ended 31 si December 2024. in accordance M'ith the Charities SORP {I-'RS 10?). sccond edklion. October ?019. REFERELNCE AND ADMINISTRATIVE DETAILS Charity namc: Soldiers and Aviators. Scripture Readers Association (SASRA) Charil), Registration number: 235708 (England and Wales) Charity registration number.. SC039130 (Scotland) Company Charity registration number.. 3?9?68 (England and Wales) Ristered office and operational address: HaVe1(k House Barrack Road AI.DERSHOT Hampshire GUI l iNP Telephone.. Email.. Website- OiOOO iol JO? admin a saira.or www.sasra.or Auditor Sha%v Gibbs Audit Lid Wev Court Wesl. Union Road. Farnham GU9 7PT Solicitor5 Moorc Barlo%%' Concorde House 165 Church Si East. 'Oking Surrey GU216HJ Brokers RBC Bre.in Dolphin l ? Smiihficld Sireel London ECIA9BD STRUCTURE, GOVERN'ANCE AND MANAGF.MF.wr STRucfuRE The diagram below shoivs the governance and management structure of SASRA. Executi*Dlrecto MinistryDirector OperationsDirector .'finaneeDirector F4cifjtses.Dlre¢tor Page I
SASRA REPORT OF THE TRUSTEES for the i"fAr ended 31 December 2024 Patron His Majesty King Charles111 President Major Genernl (Retd) R J Thomson CBE DSO President Emeritus General the Lord Dannatt GCB CBE MC DL Vice-Presidcnls Major General (Retd) Rev R M l.lffi¥ellyn CB OBE Major General (Rctd) Sir laur¢nce Ni em, CB CBE Major General D Reeve MC Brigadi¢r (Rctd) W I C Dobbie OBE Colonel (Reid) E B L Amiitslead CBE Lady J Farnier CouDciI Member5rnru$tees Col {RetdJ J W Lcivis (Chairn?an) Col D Ellison (Late RE) Col {Retd) C R Rider CBE Lt Col (Reid) J C Allen MB ChB FRCS Lt Col P R G Bra). MBE RIFLES Lt Col M Clavdon RAMC Lt Col (Reid) N C E Dawes Lt Col (Reid) C M StG Kirkc PhD Lt Col W J D Wells RIFLES Maj A C Massev QARANC Maj {Reidl P D Shannon IMBE Sqn Ldr R A Gallaugher MBE (Resigned 16 Ociober 2024) Sqn Ldr D H Heath RAF Sqn Ldr J Greenald (Retd) Mr J H Madden (Appointed 16 Ociober 2024} Mr A M Massey MrSRPryor Mr J P M Wooldridge Executive Direelor Lt Col (Retd) Dr Martin Gliniecki QGM. BTh. Bsc. MA. MSC. DPhil Oxf. MIExpE, CEng GOVERNANCE Governing Documents. The Memorandum and Articles of Association of SASRA i¥'ere incorporated on the ?h of June 19J7 and Lipdated b! 5claI r¢soltsiion in ?O?i. I1¢h incorporaied Miss Daniell s Soldiers Homes IMDSH). Under thc Companies Aci. the Associalion il'as incOrrated as a Compan!. limiied b). guardntee and not having a shar¢ ¢apithl. The Governing D(Kumenis set out the objccts for i%.hi¢h ihe Association is established, and how it is io be managed.
SASRA RF.PORT OF THE TRUSTEES ror the Trear ended 31 December 2024 SASRA and MDSH Merger. The merger of MDSH with SASRA a$ approved by the Charities Colnmission vith an effective date of 31 Dccember 20?4. The net expenditure for ?0?4 and ihc assels. liabilities and funds Ivere Iransfcrred lo SASRA on ihc ) l December ?0?4 and are reflccied in the SASRA Firiancial Siatcm¢nts for the year ended 31 D¢c¢mber ?024. MDSI l i4.ill remain an entit! "Ithin SASRA io explore opportunities of expandingy iheir work as appropriate. The merger M'ill benefi1 MDSH by proi'iding access lo the support and managcmcnt functions available in SASRA and will benefit SASRA bv providing locations from whi¢h Scripture Readers can bas¢ and operaie iheir min55tries in support of serving porsonn¢l. Council. The 20?i special resolulion sei SASRA trusteecOUCtl members lo be no less than 8 and no more than 16 personnel. Council Is Slill iransitioning from thc prcviovs figures of l ? and ?4 respcciiv¢li' and in 20?4 Council nuinbered 17. Council is responsible for overall eoi'ernance of the Association and has s¢v¢ral committee& such as the Finance and Strategy Sub-Cotnmittee& cstsblished to sUprt its decision-making. The Council may dLlcgat¢ any of lis wwers to commiiiees consistin£ of trustces. abl¢ to call on eiternal expertise. Any such committees conforni to all Council-imposed regulations. Unless oihenvise dclerniincd. Iher¢ shall be a quorum. Queslions arising ai any me¢iing are decided bv a majorit). of votes -in the case of an equality of votes. the Chairn)an has a COnd or casting vote. EleetlOD of Trustees. The Council ma). appoint a suitsble trustee until the next ordinary generdl meeting. Ivhcn he or she lyill then be eligible for re-elcclion. At the ordinar¥. ocneral meeiÉng. held each )'ear. truslccs tha( have served for three l'ears %i'ill retire bui will be eligiblc for re-eleciion. Onl). Inemb¢rs of ihe Association arc cmpowered to vote in such eleetions. Trustees that have sen'ed for thrcc i¢rn)s of three vears should not b¢ re- elected for at least one i'ear. Nlcib. tnjsiees atEend induction trnining coverin2 thcir rolc. responsibilities. obligations. deiailcd acliviiies and an) issues of the AsCIatIon. Thc). are encouraged io attend third-part). Iraining as necessar%'. Authoritv to Operate. SASRA and lis Scripture Readcrs are auihorised io operdte bi, the Ministtv of Defence and sponsored b). its chaplainc!. branches '11h1n lh¢ Arni!. and RAF. und¢r a Memorandum of Understanding and General Administr21ive Instruciion. r¢speciii'eli. SASRA is a member of ihe Council of Voluniarv Welfare Work {CVWWl that exisls as an associaiion of charitabl¢ organisations proi'iding ii'elfare ser¥'ices lo the Armed Forces. MANAGEMENT SASRA ¢mploys five salaricd Direcior& accountable io Council. and reSnsible for ledding. managing and serving the Asso¢iaiion. as i%'cll a5 delii'ering its vision. mission and strdtegic objectii'es. The Council meets several times annuallv in ordinary council meeiinos. one of ii.hich is also ihe Annual General Meeting. Extraordinary Council meetings ma), be called as required. The Council mei ihree limes in 20?4 to provide governance. gii'e siralegic-level £uidance and decisions. and deliver responsibilities. in order to sustain the Association. This Council auihorised the recruitment of an addiiional four Scriplure Rcaders in ?0?4 to meet a reviscd stra¢¢gic objectiv¢ ofha*ing ?) Scripiure Rcaders in place b¥, ?O)O. Council ¢onfim)ed the vision. mission and strdtegFic objectii'cs ofihe ASslation. rci'iciv¢d strdteoic-level risks. continued a rolling revieiv of Council- level policies and recruiied a n¢w Council memtrKr. VISION. MISSION, 0Er[[vE5 AND ACTIVITIES VISION For every servin&Y member of the Brilish Am)y and Royal Air Force (RAF) to hear the gospel of Jesus Christ during thcir period of rvIce. Page 3
SASRA REPORT OF THF. TRusfEES for (he l'ear ended 31 December 2024 MISSION To sprcad th¢ Saying knowledge of chri among the seIn0 personnel of the Army and RAF. OPJECTIVES Consisteni with SASRA'S charitable Objec the Council"s strdtegic objcctives are to: "sustain historical legTacv and senior patronaoe. .hold to a doctrinallv orthodox Basis of Faith. •share the gos[1 effe¢iii'ely M'ith Service personnel. support Service Chrisiians in personal witness and evangelism. •contributc to ihe spiritual and material i%"elfare of Service personnel. 'groiv Reader numbers. revised in ?0?4 10 ?). deplo%"ed across Arni), and RAF, 'place Rcaders io achievc Tnaximum impactleffect. .be finaJJcially viable and sustainablc. •managYe resources (human. financial. materiall effeclivel),. .b¢ pra)'erfull)' dependeni on God for blessing. Public Benefjt. Our main activiiies undertaken to further our purposes for the public benefit are.. •communicaiing the gospel of Jesus Christ to servino mcmbcrs of ihe British ArniN' and the RAF together with their d¢p¢ndenis- a$5is1ino miliiary chaplains. ehaplaincv and welfare ieoms in the provision of spiritual and pastornl support to serving personnel: 'promoting inlcrdenominaiional Christian felloii'ship. and thus encouraging the benefiis of community. •encourdging belicvers to live a Chrislian life in accordance iviih Biblical principles. in submission io the law and in a mann¢r ihai is loving. caring and compassionaie: and *strengthening relaiions bem'een milithry personnel and local COTT]munities. While our niain etTon is sUPrting Brilish miliiat!, personnel and their families. including attached MOD civilians. M'e offer our minisio to those adjacent ivhere appropriate and rcgardless ofrank or class. financial status. educational standard. ethnicits,. m¢ntal. iniellectual or phN"5i¢al abiliiies. sexual and gendcr orientaiions or belief. ACTIVITIES To deliver our vision. mission and objectii'es. Ihereby pro%'iding public benefit. SASRA emplovs Scripture Readers. who are militarv i'eterans trained in Chrisiian theolo, and iiiiness. TheN' deplo). io multiple military bases. camps and stations throughoui ihe UK and abroad. Deploi'ments are based on se¢king maximum interactions with as many mililary. rsonnel and families as possible. and in consulthiion wilh our military chaplaincy swnsors. During the vear. SASRA engaged in the following primary aciiiiities: Gospel Ministr).. The core role of Scripiure Readers is io sharc ihe gospel of Jesus Christ wilh iroops and their families. which ive did ai more than_i miliiarn. esEablishmcnts. In their roles Scripn]re Readcrs: proi'ided spiritual instruction, i¥'elfare and SUPTX)rt: lcd one-lo-one gospel engjagemenis and Bible 51udies for both Service personnel and their families: preached sermons and gale Bible talk5- and engaged in indii'idual and collcctive prdyer. devotions and discipleship. Thos¢ thai responded posilii'¢lN' io the gTospel have been encouraged to become active members of SASRA. a communil). of beliei'ers and a Ial church participani.
SASRA REPORT OF THE TRUSTEES for the )ear ended 31 December 2024 Wellbeing and Welf#re. S¢ripture Readers reacted to all kn'ellb¢ing and welfare interactions sensitively and rcspectt-ully in ?0?4. enoagino iyith military personnel and families of all backgrounds. beliefs and lifestyles, e.xiending pastoral carc lo thc particular needs and situations ihe%' 'Itne5d. This important practical ministry. building trustorth}, relattonships. earnino respeci and friendship b), patieni. long-ierm engagement and Slb*nw)siinb people to r¢lcvant ag7cncies for further w'elfare support continues to be an important public benefEt. Such engagement and pasiordl support help soldiws and aviaiors build mental resilience and all together 15 part of building ihe Kingdom of God. Teaching and Training. Scripturc Readers assist with teachino and irdining. such as inl'olvement in ¢xplaining the moral component of fightino poii'er and what it means io fight jusilv and make ethical decisions. Our Scripiure Readcrs ha%'e been very produciii'e distribuling Bibl¢s. biblical iracis and pamphlels to assist Ser¥'ice pcrsonn¢l in their understanding of objective moral values and ihe need for a spiritual ditnension in iheir lives. Th¢y have taken every, op]x)rtunil>' lo explain. defend and commend thc Christian mcssag¢ of salvaiion ihrough J¢sus Chrisi Ihai aligns perfectl), with the values and standard5 of the UK military.. which cach soldicr and aviator l¢arns and Ihen r¢vis¢s annually. Events. SASRA organised several high-profile events during the )'ear including- ( I l Our Day. the Association's Flagship event for supporters to cclcbrai¢ the ministry-. (-) Edinburgh Taiioo. where we suppotl militarv staff with a canteen ministry and S¢riplure Readers suprt. (J) 50m¢ oulrea¢h occasions to exwse SASRA to Chrisiian Communities attd peoplc ihai may wish to prdN' and financiall> suppx)rt its mission- and (4) fundraising and sponsorship activities. Folloiving a piloi ei'ent of a projeci called Xcrcise in 20?3. to seek the value of coming alonbJside l'oung Christians M,ho are considering a Career in the Military,. applicants in 2024 'ere limited and the cvcnt Was can¢¢ll¢d. ACHIEVEMEh'TS AND PF.RFORMAIYCE As a Christian mission. seeking to share the gospel of Jesus ChrisL we are careful to avoid quantil&tive measures of succes& recognisingy the ii'ork. of ihe Holi, Spirit in regeneraiion and spiritual transformation. Our rol¢ is to engage with a5 man). Service personnel and Eheir families as possiblc. proclaimÈng the oospel. discipling. provÉding spiritual ii'elfare. enhancing ii'cllbcing and improi ino mental resilience. Dcploymenis lasi year gave Scripture Readers access to appro.iimaiel!' i).000 Servicc p¢rsonn¢l. plus iheir families if the), lived in Service Family Accommodation (SFA). Ai iniiial trdinino establishmenis such as ITC Caiierick and ATR Winchestcr. our Scripture R¢aders havc acccss lo ¢i'en' recruit ihat enters- 5inglc-digii thousands lasi )'ear-and are able to cngage as part of thc spiriiual needs and ethical training. Access lo Inosl soldiers is similar ai Phase ? technical training at places such as MOD L)'neham. Other Scripiur¢ R¢aders are deploN'ed ai lariTe military eslablishments where they have access io between 800 and 6500 S¢rYice personnel. and .h¢r¢ tIIc%' Tllust priorilise enoagemenls alongside others within ihe spiritual. w'ellbeing and wclfar¢ support afforded to our military. In ?024. around 950/0 of all neiv re¢ruiiS thai aiiended an initial presenialion by one of our Scripture Readers acc¢pi¢d a Bible or Ne. Testam¢ni-over 3000 personncl. Thc following ii'eek. 'ich is not compulsory atiendance. approiimatcl), onc-third reiurned for a simple church scr¥'ice Cen1 and to hear about Christianity. Over half of those asked on iniiial arrival at a trdining esiablishmeni Sle that the). ii'ould like io know more about the Christian faith. which alloivs our Scripture Readers io en£agc. On bases and slations. Scripiure Readers delivered an averdoL of13 Bible siudies per week. l ? Ions courses such as Christianity'114opc Explored. ?0 short ¢ustom-made courses for particular groups. had over 80 onc-io-one coni'ersations eacli Iveek about faith plus additional wcllar¢ #nd ivellbeing inierdcIion5 and Signs11n4 of soldiers and ai'iators. Scriptur¢ R¢ad¢rs continue to innovate. exploiling other Chrislian actll'ilÈes such as popup cafes. film nighis. entertaining at home. and crca¢¢ neiv opportunities io proclaim ihe gospel b), iempling trcats of simple food and drink.. morning and aft¢rn(Tron tea that regularly bring ?0 to 80 pcoplc alondv_lheir success promoics further growih and support from other militarv welfar¢ ag¢ncies. Pase 5
SASRA REPORT OF THE TRUSTEES for the year ended 31 December 2024 Fundraising Campaign 2024. The Associaiion mei its ?0?4 fundraising campaign goal of £?00.000 ¢.xtra income in ?0?4. This il'as a¢hie¥'ed by ihe successful cultural rcalignm¢tEt of our siaff io considering fundrdising as ministry. equal in ilnportawtce io oiher ministries such as prn)'er. 'orshiP clc. In ?0?4. Ihc Association delivered real income ¥bro1h for the firsi time in at least fiv¢ Years. bl adapiing our culiure and rctraining our staff in mi)dcm fundrnisin8 protocols and techniqu¢s. necessarv io achiei'e ihe Council s vision. mission and objectives. Our decisions were made prd)'erfull)'. anal%licall)'. dili?entli'. rcflcctii'¢l)'. discemiblv and biblically Edittburgh Tattoo. SASRA deployed Scripture Readers and SUPFKJrt staff to as8lSt ivith the Edinburgh Tattoo during late ju1./earl!, Augus1 ?0?4. li Mas an opwrtunitN' for neiv Scripiure Readers io be mentored and for office staff io witness ihc praciical work of Scripture Readers. $0 gaining greaier understanding and appreciation of their own coniribulion to SASRA s miDistr>'. We ran 2 canteen-based ministy. scrving hundreds of sponsor-donated hoi and cold drinks and sTracks to ihose ini"olved in the ei'ent. and all iviih a goal of ¢vangelising and proclaiming the gospel with troops rehcarsing for this world-leading event. Our Day. Our Day look place on Salurday ? I September 20?4 ai Grace Church. Guildford. In addition io staff and Council members M'e had around ?0 in-Txrson Supporte with around 50 waichingy online and a further 200 or so 'alched the rccordcd eN'eni. Commenis ii'ere eitremel). fai'ourable. Ivith manv inspired by Scripture Readers stories of evangclism and discipleship. and the po"erfUl I¢siimonies of forces personnel. In-person attendance has been diTninishing in rcceni years, catsl}'sed bi, the effects of ihe Covid-19 pandemic. Fundraisillg Regulator. SASRA regislered with the Fundrnisiftg Regulator in 20?4. Digit15atiort. We continued transilioning to more dioitsl mcdia comtnunita¢ion in ?024. exploiiing tcchnologics and opwrtunities such radio. Google Ads etc. Wc are seekino io encourago. as much as possible. all to engagc with the nciN. digiial forniats and assi51 ivh¢re necessary.. We shall coniinue io suppon those M,ho prefer hard Copy as much as possible but for ih05e ihat can accept digital fomial& M'e seek to encourdge and SUPFK)rt them wh¢re possible. Risk Management. The siraiegy SCoMmIttcc advises Council on risk managcm¢ni policy and strdtegic requirements. In ?0?4. the sulFcotllmittce confirn)ed the risk strateo).. and ai each of ihe tliree Council m¢cling7S during the )'ear. tru51ees re¢¢ived an Executii-e brief on ihe risk profiles of each sirdicgic objective, their trending and mitigations where appropriaie. SASRA s risks iver¢. Iherefore. mana?cd appropriaiel!. and in a¢¢ordance with Charities SORP. No ideniified risks led to an). serious ouicomes. Best practice risk manaoement meEhodology ¥as used= identif),. analvse and assess. act and monitor. Sionificant risks id¢niifi¢d and mitipaied in ?0?4 wcrc.. Reputation. A challeng¢ to SASRA s evangelical basts of belief could be ncgatllp¢l!' e.¥ploited bv those wishing harni on a faith-based organisation. N¢gatii'¢ publiciry, could advcr5cIN' aff¢ci our reputation. relationships ivith and access to ihe Amy and RAF. and supporter backing. Risk is milioaied bi, annual militar%, and third-party training of p¢rsonnel. regular slak¢holder enqaoemeni i¥ iih miliiarv chaplaincies and auihorities, candidate sel¢¢tion. culturnl aivarencss trainino and Scriplural guidance. Wc also maintain our repuiation b), being transparent in our requests for Pfdyer and funding supwrL primarili, Ihrough individual supporters. churches and Iru5ts-we also receive Icgacie5. We would nevcr scck suppon from an%, I'ulnerdble pcrson and reduce our risks by never fundraising via telephonc or ¢onira¢ting out fundraising. We hai'e a rioorous safeguarding policy, r¢vieM'cd and accepied b! Council this year. and our Scripture Readers are irained and adhere lo MOD policies when. irk those very isolated case& they engage iviih under 18-)'ears-old rccruits. RAF Scripture Reader5. In 2023. SASRA employed two fulltime RAF Scripture Readers. still vastly disproportionaie io the Arm), number of l ? Thc risk of hal'ing no RAF Scripture Readers has been o.eOm¢ by rccrui(ing a R¢ad¢r for RAF Bensotk and a further RAF I'¢teran currenil). filling an Army va¢an¢)'. Early in 2025 vc recruited another RAF vci¢ran for part-lime 'ork ai RAF Odiham. Page 6
SASRA REPORT OF THE TRUSTF.F.S for the )'ear ended 31 December 2024 Serving Membenhip. SASRA serving memberPartnerS are serving military personnel. including reservists. Thcy are disihnguished from supporters who are not serving. although they may be veterdns, because of their potential for disciplino of mililar%' pcrsonnel noi a%"ailable 10 oeneric supwrters. Membership gro%th slumbled in rccent years folloi¥ing the loss of the membership sccrciar).. iA)ii' membership is considered a Siralegi¢-l¢v¢l risk to SASRA s suslainmeni and in ?0?4 we delii'ered an updalcd mcmkrship scheme for setving military personnel. PLANS FOR FUTURE PERIODS Scripture Reader Growth. The chardcter of chaplaincs. and militsrv life is changing. Ami), and RAF chaplJin¢i¢s now see an increase in multifaith chaplains and ihe addiiion of Non-Rcligious Pastoral OlcerS INRPOS). SASRA %N'ill ¢oniinue io adapt to the changes and 5UStain the unique relaiionship ihat it has with military chaplains and military is'elfare services wiihoui compromising thc gos1. SASRA"s slrdiegic plan. to grow S¢ripiure Readers to a rei'ised numbcr of ?5 b). ?030. was recenilN' amended bs, CouncÈl io become a number that is righi sized for ihe need to meei our vision and mission. and possibl%, compensate for the reduction in Christian witness from miliiary, chaplaincv. The recruitmenl of lil'o neil. Scripture Redders has been authorised in ?025. and 'e have a neiv Trnnsilion and Sustain Plan to mcei this susiain¢d groiiih. follo.n2 our successful ?024 Fundraising Campaign. Council and presidents. memFKrs and supporters are beino encourdged to see fundraising as ministry. building relationships and partnering '1th those that SUPPOrt us. in jusi ihe same way as we see prdyer. worship. looking after the iyidoivs and orphans. as ministries. Rccruitmeni i¥ill scck to balance more beneficially the splii of Amiy and RAF Scripturc R¢ad¢rs. full and part-iimc. paid and unpaid. We shall coniinue seeking opportunities to have Scripture Rcadcrs deploN'¢d overseas. Serving Membersbip. As described above. low membership is considered 2 5trniegic-level risk to SASRA'5 susiainment. Through our updaied membership schetn¢ for serving military personnel. shall Continu¢ io gather new sen'ing members. principall>' those ihat our Scripiurc Rcadcrs h8v¢ dei'eloped clear relationships ivith. As our ncw¢si members depart training organisaiions and units. i%c shall mainiain contact and support discipleship of ihem. so ihat the). can grow in foiih and spread ihe gospcl-their pra)'ers and hopefully financial support will folloiv. We have sel ourselves a largcl to have at leasi l 00 sern'inc members b), December ?027. with a stretch objeciive of150. We have recenil). grown from 17 in ?0?4 to JO in Carl). ?0? j. Digitsl Fundraising Capabilit!.. We have identifEed a need for digiTal fundraisin¥T capabilitv and capacity, and to usc fundraising and marketing iaciics 10 inspire SUPSK>rter engiag¥emenL finaiicial oiving and lasting commitment to SASRA. We shall scck to develop this capabiliti.. Flcxible ii'orking contracls for ASRS and siaff ¥vill allow us to employ more Yolunie¢r and part-timc personnel that could deliver the same objectives with less reliance on increased annual income. Pay and Remunergtion. Truslces gil'e their lime freclN'. r¢c¢LI'e no remuneration and haiie nol claimed enlitled eipenses in ?0?4. Siaff pa). is rei'iem'ed annu311!' and norn)all!' increased in line .]lh the SASRA Pa). Poli¢y. Council directed ihal the Executive Director reviem. pa!. for ASRS to ensure thal pay and conditions ivere fair and commensurate with the previous polic reviem, led b!. Council member Lt Col Brd),. Findings are io be delivered in 2025. Revival. The 'QuÈel Revival" of Gen 7, I%.hich according to orgawiisaiions such as ihe Bible S(Kiety. is leading to a risL in church attendance. particularl). from l'oung men. is a demographic that SASRA engages with and hopes to respond to b}. sharing Ihe Chrilan tncssagie etTe¢iii'el)'. Page 7
SASRA REPORT OF THE TRUSTEES for ihe vegr ended 31 December 2024 FINANCIAL REVIEW Financial Summary. As Christians. we are profoundl), grdteful for the Lord's provision ihrough ihe giving of His people. A summarv of our financial position. in comparison to ?0?3. is as follows= 2024 £? 067.947 £ l.ii9.988 £707.9i9 £l.OiO.993 £i3.889 £i8i.3i6 £1 j7.)91 £190.?79 2023 £1 ?6).140 £1.333.559 -£68.419 £858.186 £51.395 £180.673 £1 ??.979 Chan e+l- +63.5% +2.OD/fr Tolal Incomt Total E nditur¢ Net Position. Donations Gift Aid incom¢ Lc )ac%' income InK'estmcnt ineome Exceptional iiem- iransfer of MDSH funds +?2.5Q/o +4.9/0 +224.00/0 * Includes cxcepiional gain of £190.?79 from ihe transfer of total funds from MDSH following the merger with SASRA on i l December ?0?4 *before investment gains and losses Dividends recei¥'ed from stock market investments fell £516 (1.1 0/0) 10 £47.525 and renlal income increased £10,199 (14.80/0) to £79.033 as .¢ ii'ere able to rent out s¢i'eral of our properties on short-tcrJn Icascs. Reserves Policy. Council wJli¢%' is ihat SASRA should hold b¢ti¥een i and 6-months' opcraiional expendithre. in ¢ash or near cash to copc iviih cash flow fluciuations and anN' short-ierni. unexpected dcmands such as a sudden. dramatic fall in dividend Éncome. Thcre is risk ihai financial giving ma). bc hindcrcd by iurbulent markets {worldikide tariffs). cuis io benefits. poor groM1h and increased cosi of living. Additionalli,. Ihe Association holds housing tk for ihe conduct of its minisiry. Trusiees recognise thc need io provide additional housing for our additional Scripiure Rcad¢r5 or ¢XiSiine ones who may have io move from mililar). SFA. This requirement can be mci from restricted rescrves. Prnperty- Where possible Scripture Readers are accommodated in SFA. placing them ivith the communities to vhich the). minisier. SFA is norniall!. proi'ided io SASRA staff at charitable raies ihai are loii'er than fflarkcl rates; this benefil is reflected in th¢ a¢counES as Intsneible Income of £34.9?8. There is. hoii'¢v¢r. gr¢at¢r demand in particular locations that restricts availability. of SFA for Scripiure Readers and in these circumsiance& li'e pur¢has¢ suitable properties for their requirements. Endowment Funds. In ?0?4 applications were made to the Charilies Commission under section 282 of ih¢ Charities Act ?01 l. to lift the restrictions ii'iih respect to expenditutr of Capital ihat applies io boih the William Henry Daw50n Fund and the King Edivard Vll Soldiers and Sailors Insiiiute Fund. The Charities Commission agFrc¢d that effective from 10 September ?0?4 the rcsiri¢iion ii'ould be lified on thc capital of Kin&i Edward Vll Soldiers and Sailors Instiluie Fund. The liftin2 of thc r¢siriciion on capital for the William HenT!, Dawson Fund was elyective on 14 March ?O?i. This lifting of ihe restrictions on our two major funds allows greater flexibility and cffcciivcness in delivering our mission and objectii'cs. Allocation ¥nd Apportionment Costs. SASRA bencfits from the voluntar%' sen'ice ?iven bN' such as trustees, adi'ocaics and local representatives. Many volunieers ch(KJse noi io claim leoiiimate expenscs. although they are ¢n¢ouraged in these Case to make a claim. to better reflect ai leasi some of the true cosis of running the Association. The ?025 transition and Sustain Financial Plan ma%, see other allo¢alion and apportionmeni costs. Page 8
SASRA REPORT OF THE TRUSTEES for the veAr ended 31 Deeember 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The TnEStees are responsible for preparing the Trustees annual report and the financial statements in accordance ii'ith applicable law aftd United Kingdom Accouniing Stsndards {Uniled Kingdom Generdlly Accepled Accounting Pr8ctice)- Company law requires the Trusiees io pr¢par¢ finan¢ial sthiements for each financial )'ear. Under companv laiv the Trustees must noi approve ihe financial statements unless the). are satisfied that they giN'e a true and fair vi¢ii' of the state of affairs of the ¢hity. and of the incoming resources and application of resources. including its income and expenditure, of ihe charitv for the vear. In preparing financial staiements the Trustees are required to- select suithble accounting poli¢i¢s and then apply them consistently.- - observe the meth(Kls and principles in the Charih. SORP: make judgemenis and estimates that are reasonable and prudent: and prepare the financial statements on ihc goitbg concern basis unless li is inappropriaie lo presume ihat tlie charitable company iN'ill continue in business. The Trustees are responsible for keeping adequale accounting records that are sutTicient to show and explain ¢h¢ charii) s irnnsaciions and di%lose iN'ith reasonable accurdCS' at an! time the financial posiiion of ihe ¢liarits' 211d enable them to ensure that the financial siatements compl!, M'ith the requiremcnts of the Companies Aci ?006. Tlie), are also responsible for safeguarding the assets of the charity and hence for tsking reasonable stcps for tli¢ preN'ention and dci¢¢iioti of fraud and oiher IegUlarItIeS. Trnstees, Ststement Each of the Trustccs ha5 eonfirn)ed thai so far as iheN are aare there is no relei."ani audit infomiation of ..hICh the auditors are unawa. and that they have iaken all the steps thai the!. ought io haN'e tskeii as a Trustee to mak¢ themselves aware of anv relei'ant audit infomiaiion and io eithblish ihat the auditors are ai%are of thai informaiion. The Trustees have also ensured thai the financial statements compl), with the Charities and Trustee Invcstment (Scotland) Act 2005. AUDITOR Thc auditors. Shaw Gibbs Audit Ltd. will be proposed for re-apw>inlmenl at ihe forthcoming Annual General Meetin¢7 Approved bv order of the IM)ard of trustees on 2* Ma> 2025 and Signed on its behalf by.. /y Col J W Lewis- Trusiee Page 9
REPORT OF THE INDEPEI%DENT AL DITOR TO THE TRUSTEES AND MEMBERS OF SASRA Opinion We have audilcd Ihe financial aleInentS of SASRA (Ihe 'charilable company,) for the year ended 31 Dccembcr ?0?4 Il'hich comprise the Statement of Financial Aciivtties. the Balance Sl)eet. the Cash Flow Sia¢emeni and noies to the Iinancial stat¢mcnls. ineludino a summarv of significant accounting polici¢5. The financial reporting. framework ihat has been applied in iheir preparnikon is applicable law and United Kingdom Accounting Standard5 (Unit¢d Kingdom Generally Acceptcd Accounting Praeticc). In our opinion the financial sthiements.. give a true and fair vieiv ofthe state of the charitable compan! s affairs as at 31 December 2024 and ol its incoming r¢50urces and application ofresource& Including ils income and eKpcnditure. for the year then ended- have bcen properly prepar¢d in accordance iyith Unitcd Kingdom Generally Accepted Accounting Practice: and have becn prepared in accordance wilh ihe requiremcnts of the Companies Act 2006, the Charities and Trustee Investment (Scoiland) Act ?005 and Regulation 8 of ihe Chariiies Accounts {Scotland) Regulations 2006. B*sis for opinion We conducted our audil in accordantt ¥N'ith Iniernational Siandards on Audiiino {UK) IISAS (UK)) and applicable la.. Our rcsponsibililies under ihose standards arc further d¢ribed in ihe Auditor responsibilities for ihe audit of the financial siaicmenis se¢iion of our report. We are indcpendent of the charitable compan), in accordance viih Ihe eihic21 requiremenis ihal are relean¢ 10 our audit of ihe financial slalements in the UK. including the FRC'S Eihical Standard. and hai'e fulfilled our othcr cthical SPOnsIbl[l11t5 in accordance with these requirements. We believe thai ihe audit evidence we have obtsined is sutTicient and appropriate to provide a basis for our opinion. Conf lusions relatillg to going Concern In auditing ihe finanLial 51aiemenis. li'e have concludcd ihai Ihe irustees, use of ihe going concern basis of accounting in ihc prcparaiion of ihe financial statetncnls is appropriaie. Based on ihe 'orK ivc hai'c p¢rfom?ed. 'e have nol idcJJlified an!. malerial uncenainties relating to events or conditions that. individuallj or collectii'eli.. ma). casi significani doubt on the charilable company's abilit), to continue as a &Toing ¢on¢em for a period of at least li%'¢l%'e monihs from when the financial statements are authorised for issue. Our responsibilities and the reSnSIbilI17es of the irustees with respect to going concern off described in the relevani sections of this report. Other inforniatioD -The tmst¢¢s are responsible for thc oth¢r Énfom)ation. The other inforn]ation compriscs ih¢ infomaiion in¢lud¢d in the Annual Report. other than the financial siaiements and our Report of the Independeni Auditor ther¢on. Our opinion on the financial statem¢nls does noi cover ihe oiher inforniation and. ¢Ncept io the e.¥ient otherwise cNplicitly stated in our report, w¢ do noi express an) form of assurdn¢e Conclusion ihereon. In conneciion with our audit ofthe financial slaiements. our resEK)nsibiliti' is lo read ihe other infom)ation and. in doing so. consider ivhethcr thc oihcr inforn)aiion is materiall!. inconsisieni i¥ ith ihe financial slaiemenls or our knoi¥.ledge obiained in the audit or oihen%'ise appears to bc matcriall! missiatcd. If M'e identify, such malerial iTrconsistencies or appareni material misstatemenls. are required io deierniine whher this gives rise to a maierial misstatement in the financial siaiemenis ihemseli'es. If. based on th¢ ii'ork. Ive have perfornied. we ionclude ihai ihere 15 a malLrial mi$8tsienieni ot- Ihi5 oiher inforniaiion. M'e are required io report ihai faci. We havc nothing to repon in ihis regard. Page 10
REPORT OF THE INDEPENDEYT AUDITOR TO THE TRUSTEES A) MEMBERS OF SASRA Opinions on other matters Prescribed bi the Companies Aci 21)06 In our opinion. based on ihe %%ork undernaken in the course of tlic audit- the inforwnaiion given in the Rewrt of the TrusiC¢S for ihe financial vear for which ihe financial statements are prepared is consistent iviih the finantial siaiements- and th¢ Report of the Trustees has been prepared in accordance iiiih opplicable legal requirements. Matters on w'hich we are required to report bv exception In the lighi of the Kno.1Cdoc and undcrslanding of the charitable company and its environment obtained in the course of the audii. we have not identified material missiaiemenis in ihe Report of the Trusiees. We have nothing to report in respeci of ihe folloli'ing matters i%here ihe Companies Act 2006 and the Charities Accounts (Scotland) Regulalions ?6 (as amended) quireS us io report to i'ou if. in our opinion- adcquaie and proper accouniing. r¢cords have not been kept or returns adequate for our audit have not bcetl receii'ed from brdnches not V1511¢d b%. us: or Ihe financial slatemcnts are noi in aoreement ii'ith the accouniing records and returns. or ccrtain disclosures of irustc¢s' remufterniion specified by law ore nol made: or ve have not reccii'ed all ihc infomiaiion and eiplanations li'¢ r¢quire for our audit- or Ihe irustees ii'ere nol cnlitled io lake advantaoe of ihc small companies eiemption from the requirement to prepare a Siraicgic Report or in preparinLT the Report of ihe Trustees. Responsibilities of trustees As eiplained mor¢ fully in ihe Statetnenl of Trusiees, Responsibilities. the irusiees are responsible for the prcparalion of ihe financial slatements and for Ing salisficd thai the). oii'e a true and fair viciv. and for such internal control as the irusiees deicnJ)in¢ 15 n¢ces5aTh' io cnablc ih¢ preparaiion of financial statemcnts that arc free from material misstsi¢m¢ni. M,hether due to fraud or error. In preparing ihe financial staiemenls. Ihe trustees arc responsible for assessing the charithble Company's ability to continuc as a going concern. disclosing. as applicable. mallers relaied io goino concern and using the going concem basis of accounting unless the irusiees either intend to liquidaie the charitable company or io cease op¢rdtions, or havc no r¢alistic aliernativc bul to do so. Our responsibilities for the 2udit of the fiDanci*l statements Our objectivcs are io obtain reasonablc assurnnce aboui whether ihe financial stsiements as a whole are free from material misstat¢ment. Ivhether duc lo fraud or em)r. and to issuc a R¢port of ihe Independent Auditorthai includes our opinion. Reasonable assurydnce is a high level of assuran¢e. bul is not a guardntcc thai an audii conducted in accordancc wilh ISAS (UK) will alwa)'s deteci a material missiaiement when it exisis. Missiaiements can arise from fraud or error and arc considered material if. indii'iduall!. or in ihc aggrcgat¢. Ih¢y could reasonablv be ¢xpected to influence ihe economic dccisions ofusers taken on th¢ bosis ofihese financial statements. The eitenl to which our predUreS are capable of d¢tectino irregularitie& including frdud is deiailed below: Our approach to identify'ing and assessino the risks of material misstatemenl in respeci of irregularitie& including fratsd and non-complian¢¢ ivith laws and rcgulation& il'as as follows= the enLTrageinenl partT]er ensured that ihc cngagemeni ieam colle¢lii'cl%. had the appropriate cotnpet¢n¢e. capabilities and skills to identify or recoginise non-complianc¢ ivith applicable la'S and r¢bTulations' we identified the laivs and regulations appIlble io the compan!. through discussions with dirc¢tors and other manaoemcni. and from our commercial knoM,ledoe and eirIenC¢ of the sector- ve focuscd on specifLC laiws and reoulations ii.hich iic cotlsidered maN, have a direci matcrial cffect on the financial siatements or the operdtions of th¢ ¢ompan)'. including Compan). law. the Charities Aci 201 l. data protection. emplovmenl. and environmental and health and safet)" legislaiion- Page 11
REPORT OF THE INDEPENDEYI T AUDITOR TO THE TRUSTEES AND MEMBERS OF SASRA we assessed the extent of compliance ivith the la'S and regulations identified above through making enquiries of management and InSlIg Icgal correspond¢n¢c' and identified laiN's and regulations %Nere eommunieaied within ihe audii ieam regularly and the team Mained alert to instances of non-compliancc throughout thc audit. Wc ass¢sscd thc sUSC¢Ptibilit)' of th¢ ¢gmpan} s financial stxtem¢nts io material misstal¢menL including obthining an und¢rsiandinbY of how fraud might occur. b).: making ¢nquiri¢5 of manag¢tn¢nt as lo .her¢ ih¢y considered there 8S susceplÈbility to fraud. their knoivl¢dg¢ of aciual. suspe¢ied and alleged fraud: and considering ihe internal conirols in place to mrtigale risks of frnud and non-compliance wilh laws and regulations. To address ihe risk of fraud ihrough management bias and override of control& we= perfomied ana1ical procedures to identiA' ani, unusual or une.xpected relalionships: Icslcd journal cniries to ideniif), unusual trdnsactions= assessed ii,hether judoements and assumplions madc in deiemining the accounting esiimaies were indicative of polential bias. and investigated the rationale bchind signifi¢ani or unusual iransa¢iions. ensure thai expenditure on the leaschold improvements is in agr¢cm¢nt with third party documentation, and specifically with the main contrdctors agreed lender docum¢ntation and final account report. In response io the risk of irregularities and non-compliance .]lh laws and regulations. 'e designed procedures which included. but were not limited to- agreeing financial statemeni disclosures to uftderlyinq suprM)rting documentatton: enquiring of management as to actual and poteniial liligation and claims. and rcvicwing correspondence with rel¢van¢ regulaiors including the Health and Safety, Authoriry. and Legal advisors. There are inhcreni limilations in our audil pror¢dures descrikd al)ove. The more remoi'ed th81 laivs and regTulations are from financial transactions. Ihe less likelv it is ihai w'e 'OUld become ai¥are of non-compliance. Audiiing standards also limit the audit pr(*¢durcs rcqujd io identify non-complian¢e i%'iih laivs and r¢gulaiions to enquiri, of the dircclor5 and oth¢r mana8cm¢ni and the inspection of regulaiory and leoal correspondence. if any. Maierial missiaiem¢nts thal arise due to frdud can be harder lo ddect than those that arise from eor as they may involve deliberate concealment or collusion. A further description of our responsibiliiies for ihe audit of the financial staiements is located on the Financial Reporting Council's iKebsite ai wvw.frc.org.uljauditorsresponsibilitlcs. This dcscription forms part of our Report of Ihe Independent Auditor.
REPORT OF THE INDEPEh'DEh'T ADDrroR TO THE TRUSTEES AND MEMBERS OF SA.S.RA. Use of our report This report is made solely to the charitsble company's members. as a body. in accordance with Chapler 3 of Pan 16 ofthe Companies Act 2006. and to ihe charithble compan) s trustccs. as a bodv. in accordance iviih Regulation l O of the Charities Accounls (Scotland) Regulaiions ?006. Our audit li'ork has been undenaken so ihat ive might slate io the charilable coiiipan) s memkrs and ihe trusiees those mailers i4'e are required to state lo ih¢m in an audiiorfs r¢port and for no oiher purtxyse. To the fullest e¥ieni pern)itted b! la. we do not accept or assume responsibilitv to anyone other ihan the charitable companv and the charithble company's members as a Ex)dy. for our audit ivork.. for this report. or for the opinions 'C hai'c fornied. Lance Redman (Senior statory Auditor) for and on behalf of Shai¥' Gibbs Audit Ltd Eligible to aci as an auditor in ternis of Section 1212 of the Companies Act 2006 264 Banbury Road Oxford Oxfordshire OX2 7DY Date.. o>s Page 13
SASRA STATEMENT OF FINA)CIAL ACTIVITIES INCORPORATING A, I.ComF. .4ND F.XPEI%DITiiRE ACCOUN for the l'ear ended 31 December 2024 ?0?4 Tothl funds ?023 Toial funds Unrestricted funds Resiricied funds Endowment funds Ne$ INCOME AND ENDOWMENTS FROIM Donaiions and Icgacie5 1.915.445 1.915.445 1,132 ?38 Other Irdding aciivitl¢S Investment income 19.911 109.408 19.91 13?.591 19?979 Total ?.044.7fA ?j.183 ?.067,947 ?65.140 EXPENDITURE ON Raisine funds 50.683 4,074 54.757 54.076 Charitable a¢tiwiti¢s ripiure Readers- contact wilh Miliwy Personnel 1797.697 7.534 l.i05.?31 1 ?79.483 Total 1.348.380 11.608 l.i59.988 1.))3,559 Nei gains on investments 46.699 17.501 64.700 31.051 NET INCOMEI(EXPENDITURE) Transfers bet%*een funds Other recogni5ed 2ainslllosses) Aciuarial gains on defined benefli schemes 74i.083 489.8?9 77? 159 {37.368} 18 {489.8?9) 45.OC¥) 45.000 Net rnovement in funds 1 ?77,912 {460.75i) 817.159 137.368) RECONCILIATJOIN OF FUNDS To1 ndS brought forward ?.Oi5.050 i.Oi7.851 5.07?.901 5.110,269 TOTAL FUNDS CARRIED FORWARD j.jl?967 ?.577.098 5.890.060 5.07?.901 Th¢ notes fomi part of these financial alements Page 14
SASRA BALth'CE SHEET 31 December 2024 Unrestricted funds Restricted funds Endowmeni nds Tothl funds To(al funds Noies FIXED ASSETS Tangiblc assets Inyestmenis 12 13 1.531.989 914.487 1.830.6?8 611.6i5 J.36?.617 j ?77.766 1 ?77.488 ?.446.476 2.44? ?63 4.888.739 4.555.254 CURRENT ASSETS Stock5 Debtors Cash at bank and in hand 14 15 ?7.444 ?11.6j4 81 J.8?6 ?09.189 681.4i6 ?.445 13?.390 796.933 ?88.0?? 918.19 lJ4.835 1.052.904 608.56? CREDITORS Amounts falling du¢ within one year 16 (51.58J) 151.58)) (45.915) NET CURRENT ASSETS 866.486 134,835 .001.3?1 562.647 TOT AL ASSETS LESS CURRENT LIABILITIV.S i.311962 2.577.098 5.890.060 5.117.901 PENSION LIABILITY 19 145.0001 NET ASSETS i.i12.962 ? 577.098 5,890.060 5.O7?.901 FUND. UnrLstricled funds: General fund Designaied Fund- Properties Designated Funil- Inv¢5mJents 18 91 ?.5?7 1.485.948 914.487 375.1?6 1.1 i8.69i 5?1731 3. j l?.96? ?.OJ5.050 Endowment funds ?.577.098 3.037.851 TOTAL FUNDS
.890.060 5.072.901 These financial 51atemenis have been prepared in acconlance with the provisions applicable io charitable companie5 Subject to the small companies reoime. The financral statements were approved by th¢ Board of Trusttts and authorised for issu¢ on ?9th May 2025 and were si¥ned on its behalf bv= J W Lewis- Trusiee The noles form part of these financial ateMentS Page 15
SASRA CASH FLOM, STATEMF.NT ror the vear ended 31 Deeember 2024 70?4 70?3 Notts Cash flows from operating #cti%'i¢ies Cash generdled from operdEions {?5i,471) Nei cash provided byl{used in) operdiing aciivilies 253,471) Cash flow5 from investing #cli)'ities PUhase gf tannible fiked assets Purchase of fixed assei iTrvesiments Sale ol-iankiible fixed se15 Sale of fixed asse¢ investments Movement in investmeni cash accouni Cash rec¢iv¢d Ls part of charity merg InieTesi r¢ceived Dividends received {10.0001 (?ii.490} {$1.6441 507 48.811 13.356 ?0.7 6.104 48.041 47.5?5 Net c&sh provided by investing activities 73.0(H 65.175 Cash flows from fiTraDelll2 aetivities Income aiiributable to etldowmeni Expendittsre aiiriblltable to endoH'ment 11.608) 5.175) Net Cash provided by/lu5ed in) financing aciiviiies I,)75 5,175) Change in c85h and eash wuii'alents in the rcportlll2 period Cash 3nd cssh cquii'#leDts at the btginnin% of the reportints period 1193.471) *88.0?? 481.493 Cash and cash equivalents at the end of Ihe reportlRg pcriod 81 j.8?6 ?88,0?? The notcs forni part of ihese financial siaiements Page 16
SASRA NOTES TO THE CASH FLOW STATE.MENT for the vear ended 31 Deeember 2024 RECONCILIATIOIY OF NET INCOMEI(EXPENDITURE) TO NETCASH FLOW FROM OPERATING ACTIVITIES ?0?3 Nel ineomellexpenditure) for the rewirting rIOd la5 per the Siaiemeni of Financi31 Activiiiesl Adjustment5 for: Depre¢ia¢ion cha.£S Gain on invesiTnenis Profil on disposal of fixed assets In¢er¢si received Dividends recciv¢d Income aiiribuiabl¢ to endowment Expenditure auriblltable to end0.Ment Cash paid to pen5Lon fund deficil Incotnc from charity mcer In¢reasc in stocks Increase in debtori Decrease in erediiors 77? 159 137.368) {Jl.051) 1491 16.1 (Al 148.041) (6.033) (47.5?5) (?).18i) 11.608 5.175 {1.8(M)I (190 ?79) 17.884) {1?8.?60) 14.411 117.865) Net C85h prol'ided byl(used in) operntions ? j3,4711 ANALYSISOF CHANGES IN NET FUNDS Ai 1.1.24 Cash flo, At31.12.24 Net cash Cash ai bank and in hand 288.0?? 5? j.8( 813.8?6 ?88,0?? j?5.804 813,8?6 Total ?88.0?? 5?5.804 81 J.8?6 The notes forni part of these financial Stsments Page 17
SASRA L OTES TO THE FINANCIAL STATEMENTS for ihe vear ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing th¢ finsncial 5tatemeThts Th¢ fjnancial siarem¢nis of ihe chariiable companj. which is a public bencfii entity. under FRS I O? have been prepar¢d in accordancc ivith the Chariiies SORP IFRS 10?)'Accounling and Reporting b). Charities= Staiemenl of Recommended Pra¢Li¢e applicable to charities preparing iheir acoount5 in accordance M'iih the Financial Reporting S¢andard applicable in ihe UK and Republic of Ircland (FRS Ioty) {effcciivc l Januarv ?019)'. Financial Reporting Siandard 10? The Financial Reportins Siandard applicable Én the UK and Republic of Ireland. and the Companies Aci ?(K)6. The financial siatemenis havc prepad undcr the hisiorical cost conveniion. M'ith th¢ excepiion of investments which are included at matkei value. as modified by th¢ rcvaluaiion of certain assets. The Fsnancial siatements have been prepared on the going concern basis. Income All income is recoonised in the Siaiemeni ofFinancial Activities once ihe chants, has eniitlernent to ihe funds. it is probable thai the income .711 be received and the amouni can be tn¢asured reliably. Specificallv. legacy income is recogni5ed when the chariiable companv is first notifi¢d after grani of probaie. and onl}, if a value can be reasonablv esiimaied for all elements of costs such as leoal f¢cs. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or consirnciive obligation committirtu the charily to thai expendiiurc. it is probable ihat a transfer of cconomie benefits will be required in settlement and thc amouni of ihe obligaiion Gin be measured reliabl%'. Expendilure is accounicd for on an accruals ba5¥s and has been classified under headinys ihai aggr¢gaie all c05t rclated io th¢ caiegor%,. Wherc costs canno( be direcrly a¢tribuied io particular headings iho. have been allocaicd io aciivitl¢s on a basis consisieni wilh ihe use of resources. Raising funds RaisinLTr turkd5 includes all ¢xp¢ndiwre incurred b%. Ihe chariTh io rdisc funds for 1CharlbI¢pUrS and includes costs of all (undrdising activiii¢s. events and non-charithble trading. Charitable actLI'ilies Costs of chariiable aciivilies are incu{ prin¢ipall!' in ihe wovision of staff deliverin? ihe charitsble objectives of the Asso¢iaiion. These fomi¢rlv %pardielv ideniified as the M'ork. of our Scripiure Readers in providing spiriiual and pastoral 5UPP)rt io our EtneficiariLs and our Arca Rcpresen¢aiiN'es in inforniing ihe Christlan public of our work. As the charih. h85 had a reQanIsa1]oll and no longer has Area RepreSenlives. there is now only one principle activiW and ¢he account preseniaiion has been adjusied to r¢fleci Lhis. The 5UPtM)rt Costs relating io the managemeni and govcmance of the chariL}' 15 4)P)rtion¢d io chariiable aciivities. Governance costs This inCldeS aceouniancy and professional fees incurred bv the Charitj, io meei kis stawiory obligations. Alloeation and apportionment of costs Suppon costsare made up ofihe mana oement costs of runningthe charity. Pan ofthese costs are diredly allocated to Costs for Generaiing Funds and ihe remaind¢r is allocaied io Charitable Activiiies. Tangible fixeif assets The polic>. for capithlising fix Sets is items >£400 each. Depreciation is provided the follo.]ng annual rai¢5 in orderto wriie off ¢ach asset over its esiimaied usefvl life. Fumiture & Equipment Motor Vehicles - ?(P/o on cost Page 18 continued...
SASRA NOTES TO THE FINANCIAL STATEVIEf4TS- continued for the vearended 31 December 2024 ACCOUNTING POLICIES- conlinutd Tangible fsxed assets Freehold properties Propenies ar¢ inilially r¢¢ognised ai cosi. Propertie5 sub5cquenily ¢arried ai the revalued amouni and nol depreciaÉed. Propenies are valu¢d on an annual basik i¥henever iheir ¢'Ing alllOLkn15 are likely to differ materially from their revalued amounts. As a result of the MDSH merger with SASRA Havelock House 'aS transferred ai MDSH s cost io SASRA. Stocks Sro¢ks are valued at the lower of CO and realisable Yalue. after making due allowance for obsoleie and Slow movino items. Taxation The chariry is excmpt froTn Corporati( w on its charitable aciivitie& Fund aeeountin Unr¢stricted funds can be used in accordance with the charitable objeciives ai the discretion of the trltstees. RestricEed fund5 can only used for particular restricied purposcs within ihe objects of the chariis,. Resrri¢tions arise when specified bv the donor or %'hen funds are rais¢d for panicular rc5tricied purposes. The ¢harity has four non•expendable endowrnent funds. These were capithl gifts cornprisinv of propertkes held for the 5pccific use of housing Scripture Readers. and Tru¢¢ Slaius Investments. Income generydted on ihe investments is irea¢¢d as unrestricied. Further explanation of the nature and purpose of each fund is included in the note5 to the financial staiemenis. Hire purchx5e and leasing commttments RenEals paid under operating leases are ¢harged io the Sthiemeni of Financial A¢iivitÉes on a straight line basis over the period ofthe lease. Pension cost5 and other posl-retirement benefits The chariiable eompanv operaies a defined Coniribuiion pensÉon Scheme. Contributions payable in th¢ year arc charged in the Sia¢cmeni of Financial Aciivitre5 in the wri(Kl to i%'hich Ihej. relate. Furthemiore. in ihe pasL the charitobl¢ ¢ompanY a150 made ¢oniribuiions io a dcfincd benefil scheme up io i ISL Decernber ?005. More information on ihis is provided under ihe relevant noi¢ io the accounts. Investments The invesmicTtls are quoied invesEments and slai¢d at mid-mark'ei value at ihc balanoe sheei date. Surpluses and deficits on revaluation of lh¢ portfolio at the end of lh¢ l'ear arc renecied in the accounts in Ihe Staiem¢nt of rinancial Aciiviiies separai¢lY tween realised and unrealiRd gain5. DONATIONS AND LEGACIES ?0?3 Donation5 Gift aid Legacies Intanuible income Funds Trdnsferrcd from MDSH 1.050.993 5i.889 58i.ii6 858.186 51.395 180.673 41,984 190.?79 1.915.445 Page 19 oniinued..
SASRA NOTES TO THE FINANCIAL STATE,MENTS- continued for tbe vear eDded 31 December 2024 OTHER TRADING ACTIVITIES 2024 2023 Salcs INVF.STMF.NT INCOME ?0?4 ?023 R¢nts received Dividend incorne Deposit accouni inierest 79.033 47.)?5 6,033 68.834 48,041 6.104 l j?.591 1?7979 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 6) Support costs {see notc 7) Totals Scripiure Read¢r5- conlaci with Military, Personnel 601 ?70 70i.961 .305.231 DIRECT COSTS OF CHARITABLE ACTIVITIES 20?4 ?0?3 Staff costs Other operating leases Telephone Posiago and stationery Rcni & raies Computer costs H¢ating & cleaning Travel &. moior expenses Othcr siatTcosts Accommodation costs Conferen¢e5 expenses Relocaiion costs LO$(gain) on sale of asse 465,5?5 416.85) 17,908 4.695 2? ?3.188 700 19,966 li8 33.041 .)i5 16.669 7.475 34,9?8 li.( 7.759 41,984 6.576 8.001 49} 601 ?70 568.38? Page ?0 continued...
NOTES TO THE FIIN'ANCIAL STATF.MF.iNTS- ¢ontinued for the l'ear ended 31 December 2024 SUPPORT COSTS Governance costs Management Totals Scripture Readers- conlact with Miltiary Personnel 691.841 703.961 Support costs. included in the above. arc as follows- M8nggemtnt 70?4 Scripture Readers- ontaet 'iih Military Personnel Total a¢tiviiies Salaries and exnSeS Social 5ecuriry Pensions (hher operaiing leases Insurdncc Rccruiim¢ni ¢osts Tol¢phone Copyinb. po$ge & siationeTI' Accomm¢70 costs & maini ReDI &, service charges Compuier ¢xpen5e5 Outsource service fees Professional fees Travel &, molor e.xpenses Other siaff costs Training Publication Sundries Depreciation of tangible and heritage assets 4?7.691 40.810 390.41? 36.107 1.049 l i.363 194 2,588 5.779 3?.074 42.271 ?.867 5.347 23.747 40.147 4.336 i4.969 12.)90 14.561 9.601 l i.463 9.887 46.181 4.786 691.841 698.?89 Govtrnance costs 70?4 Scripiure Readers - contact with Military Personnel Total aclivilics Audhtors. remunerdlion Auditors. remunerdtion for non audii work 10,i?o ?.000 Pagc?I ¢ontinued...
SASRA NOTES TO THE FINAIN'CIAL STATE.MENTS- continued for the vear ended 31 December 2024 NET INCOMEJ{EXPENDITURE) Net incomellexp¢ndiwr¢) is stai¢d after chaing1{Cred1I7ng). ?024 ?023 Auditors, remunerdtion Alldiiors, retnunerdtÈon for non audit i%'ork tkpreciation - oivncd assets hcr op¢raiino leS Surplus on disposal of fixed assets 10,61? 2,?00 1 ?.305 18.957 49) TRUSTEES, REMUNERATION AD BENEFITS There were no inJsiees' remuneration or oiher benefiis for the year ended 31 December 2024 nor for the year endcd 31 December 207- Trustees, expens Ther¢ were no trustees. expenses paid for the yfdr ended 31 December 2024 nor for the year ended 31 Deeetnber ?O?- io. STAFF COSTS 2024 20?3 Waues and salarie5 Social security Costs O¢h¢r pension costs 824?15 75.71? 7i.O? I 745,533 69.052 61.562 97?.948 876.147 The aVere monthly nUrnr of emplovtts during ihe vear was follows= ?0?4 2023 HQ SiatT Scripiure Reader5 Regional Managers 16 14 No ¢rnployees received emolwnenis in excess of £60.(KJO. The avewe number ofvolunteers were 91 ihis year (?02).' 9?). The trustees have considered that the ke!. managem¢ni personnel comprise of ihe trusrces. Ihe Executive Direcior. the Finance Direcior. Ihe Ministry DIOr. Ihe facilitie5 Direcior and th¢ Operation5 Director. The ioial compensation paid and payable of ihe ke). managemeni personnel dunno the financial s'ear wa5 £??9.53) (2023: ?01.7151. Paoe 2? continu¢d...
SASRA NOTES TO THE FINAI%CIAL STATEMENTS- continued ror the vear ended 31 Deeember 2024 COMPARATIVES FOR THE sfATEMENTOF THE FINANCIAL AcfiviTIES- 2023 YEAR END Unrestricled Restricted funds funds Endowmeni funds Total funds INCOME AND ENDOWMENTS FROM Donaiions and legacies 1.13? ?j8 1.132,?38 Oih¢r trading activities Investsneni income 9.9?3 122.979 Total l ?)4.515 30.625 1.265.140 F.XPENDITURE ON Rassing funds 48.901 5.175 54,076 Charitable activitie5 Scripiure ReadeTS- coniaci with Miliwy Personnel 1 ?79.48) 1 ?79.483 Tot81 l.j?8. j84 5.175 1.33).559 Net gains on investments ?0.?78 10.77i 31.051 NET INCOMF.I(EXPENDITURE) Transfers bee¢¢n funds (7i.5911 iO.6?5 {37.3681 iO.6?51 Net rnoyement in funds (42.966) 5.598 (37,368) RECONCILIATION OF FUNDS Total funds brought forward ?078.016 i.Oi? ?53 5.110.?69 TOTAL FUNDS CARRIED FORWARD ?.Oi5.OiO i.037.851 5.07?.901 Page 2) continued...
SASRA NOTES TO THE Flh'ANCIAL STATEMEINTS- continued for the l'ear ended 31 December 2024 12. TANGIBLE FIXED ASSETS Freehold Furniture property & Equipment Motor veliiclcs Totals cosr At l January 2074 Additions 3.797.6?) 65.794 7.000 9.000 3.417.854 97.119 Ai 31 December ?024 i,i6i.416 135.557 16.000 i.514.973 DEPRECIATION Ai l Januar), ty0?4 Charge for year 10? 171 i.Oi3 1.400 140.088 12.268 7.497 Ai 31 December ?0?4 47.381 105.i47 4.433 l i2.356 NET BOOK VALUE Ai 31 December ?0?4 3.3?1.035 30.015 3.36?617 At 31 December ?0?3 j.?6? 7j8 3,967 j.777.766 Additions io Freehold prortrty in the }'¢ar represents HaVe1K Housc. a commercial prop¢rti' Iransferred to SASKA following thc merger with MDSH on 31 Decembcr ?0?4. This propert>. is held ai historic cost. Included in Freehold properties. 1$ 2 propew beneficiallv oned bi ihe charitv, of which iiile is held by the W H Dawson TTUSI. All freehold prop¢rties are held for dir1 charitable purposes. All ihe frh0]d residential properties were revalued by management during the year on th¢ basi5 of a prudent esiimaie of residual value. Also inclLEded in Freehold properties is a property wilh carn. value of £37.038 hICh 15 tied into a leasehold which is due to e.%pire in Nov ?0?8. This revaluation is bas¢d on ihe estimated fuiure r¢nial income since the property d5 noi have a market value. This property will be deweciatcd over the remaining life of its lease. Included in Additions io Furniture & Equipment are fixed assets at a EA)ok value of £?? j?5 {Hisioric cost of £75.34]) tyansferred to SASRA follow'ing the merger wilh MDSH on 31 DeceTnber 20?4. 13. FIXED ASSET INVESTMENTS ?0?3 Share5 Other 1.495.7i9 iO.i83 1.243.174 34.314 1.5?6.1?2 1777.488 Page ?4 continued...
SASRA NOTES TO THE FINANCIAL STATF.MI EliTS- continued for ihe J'ear ended 31 December 2024 13. FIXED ASSET INVESTMENTS- continued Addiiional infomiaiion as follows- List¢d invesiments MARKET VALUE Ai l January ?074 Additions Di5P05a15 Revaluation5 1 ?43.174 4?3,517 1199.796) At i l December ?0?4 1.495.739 NET BOOK VALUE Ai ) l December ?0?4 1.495.739 At 31 Decembcr ?0?3 1743.174 Included in Addilionsare inVeSents valued at £1.0)7 iraDsf¢rred io SASRA following the merger with MDSH on i l December ?0?4 The hislorical Cost for the atM)ve Fixcd As5ei Invesiments is £1.047.5?6 {7023-. £1.011.799). Included in the historical cosi are £16).7J5 anSferred io SASRA followino the merger .]lh MDSH on J l December 2024 There were no invesimeni assets outside the UK. No inv¢stm¢ntexceeded 51J/•ofthe markct value of the ponfolio. C05t or valuaiion al i l Dember ?0?4 is rePreted by= Listed inirestments Valuation in ?0?4 1.495,739 Investments (neiiher lisi¢d nor unlisied) were as follows-. 2074 Cash held for investmenl 30.i83 In¢ludcd in Cath held for Invesmeni 15 £3.063 transferred to SASRA following th¢ merger with MDSH on 31 December ?0?4 14. STOCKS ?024 Siocks ?7.444 ?3,607 Included in Stocks is £i.3?? ISferred LO SASRA follo1n ihe mer¥*er 'Ith MDSH 31 De¢¢mb¢r ?0?4 Stock value includes a proviSLon for slow moving stock of £4.5iO (?O?J'. £4.i16) Pag¢ ?5 Continued...
SASRA NOTES TO THE FINLNCIAL STATEMF.%'TS- eoDtinued for the vear eDded 31 December 2024 15. DEBTORS 2024 2023 Amounts falling due within one year.. Miss Daniell's Soldiers. Homes Dividcnd and ini re£¢Èvable Lega¢), debtors O¢h¢r dcbtors Gifi okd lax reclaim due Prepavments 107.093 5.581 156,416 4.530 3,970 15.494 ?11,634 ?96,933 Included in oiher debiors is £941 transferred from MDSH follo•ng ihe merger on 31 December ?0?4 16. CREDITORS: AMOUNTS FALLING DUE WITHIP4 ONE YEAR ?0?4 2023 Trade creditors Social security and other wes VAT Other ¢rcditor5 AccNed e.Kp¢nses 7,196 18,310 18.038 4,450 8.716 ?O.i71 7.409 13.000 51.)83 45.915 Wiihin Creditors the followino amounts ere nnsf¢rr¢d to SASRA fol10.1ng the merger with MDSH on ) l December ?0?4. Trdde creditors £8. Social Securitv and other leS-£408. VA T £4.450. Oth¢r ¢rcdiiors £?ji and Accnjed expenses £5.690. 17. LEASINC AGREEMENTS Millimum lease payments under non•cancellable operaiing leascs fall due follows.. ?023 Wiihin one %'¢ar BeÉween one and five years ?.858 ?.307 Page ?6 continued...
SASRA NOTF.S TO THE FIP*'Ah'CIAL STATEMENTS- ¢ontinued for the )'¢ar ended 31 Decemb¢r 2024 i& MOVEMEIYT IN FUNDS Net movemenl Tn funds Trnnsfers betM'cen funds At 31.12.24 Unrestricted funds Gcneral fund Desionated Fund- Properties Dcsiunaied Fund - Inve5tmenLS j75.1 ?6 l. li8.69i 5?1 ?31 741.384 l?Oi.9831 j47.?55 346,557 91 ?.5?7 1.485.948 914.487 46.699 ?.OJS.050 788.083 489.8?9 3.31?.96? Endowm¢nt fund5 The King Edward Vll SoldÈ¢r5 & Saitors Ins. Fund The Consolidated Fund The W H Dawson Trust Granville-smiih Fund The Marter Reader Fund 489.8?9 j99.68? 2.li6.666 8.889 (489.8?9) 399.682 2.165.74? 8,889 ?.785 29.076 J.Oi7.851 489.8?9 ?,577.098 TOTAL FUNDS 5.07?.901 817.li9 5.890.060 Net movement in funds. included in ihe above are &s follows: Incoming resources Resources expcnded Gains and Movemenl losses in funds Unrestricted funds Generdl fund Designated Fund- Invcstments {l.i48.380) 45.000 46.699 741.i84 46.699 ?.044.764 I l.i48.i80) 91.699 788,083 EndowTheni funds Thc W H Daw'50n Trusi 23.183 (11.608) 17,501 79.076 TOTAL FUNDS ?.067.947 { l.ii9.988) 109.?00 817,159 Page ?7 continued..
SASRA NOTES TO THE FIINANCIAL STATEMEh'TS- CODtinued for the ear ended 31 December 2024 18. MOVEMENT IN FUNDS- Contined Comp4raliTr'es for moi'ement in funds Nel movemeni in funds Trdnsfers beiii'ecn fuT]ds At 31.12.23 unrestricted funds Generdl fund Deskijnaied Fund- Properties Designated Fund- Investments 437.98) l. lJ8.69i 501.i38 {9i.484) 30.675 375,126 l.1)8,693 5?1.231 2.078.016 {7i.591) 30.625 2.035.050 End0ment funds Th¢ Kin47 dward Vll Soldiers & Sailor5 Ins. Fund The Consolidai¢d Fund The W H Dawson Trust Grnnville-srnith Fund The Marter Read¢r Fund 489.187 7.?75 (6.63)) 489.8?9 ? lil.710 8.889 78.948 ? 136,666 8.889 2.785 J.Oi? ?Sj iO.6?5} ).0)7.851 TOTAL FUNDS 5.110.?69 li7.i68) 5,07? 901 Cotnparaiive nei movement in funds. included in ihe aiK)v¢ arc as follows: Incoming resour¢es Resources eipeTrded Gains and Movement losses in funds Unre$iricted funds Gcnerdl fund Designated Fund- Invesiments 1 ?34.51) (1.3?8.384) (9J.484) 19.893 19.893 l ?J4.jl j (1.378.384) ?0,?78 17J.5911 Endowment funds The Kin. Edward Vll Soldiers & Sailor5 Ins. Fund The W H Dawson Trust (1.149) .791 8.982 7.275 ?8.948 ? j.997 {5.175 10.77) TOTAL FUNDS 1 ?6).140 l.)J).5591 il.oil 37.)68) Included in total reserves. is a revaluaiion of £l.ii8.i08 'hICh £1.1 ?6.9ii represents the difference be['een the market value and ihe hisiorical cosi of properties. And L? j I,i7i represeniins the dilTerence beTeen th¢ market valuc and the hisiorical COSE of investments. De5ionaied Funds I'he5c represen¢ how much of the iotsl general fund balance is lied inio capithl. specifically into properties and invesimenrs. Page ti8 continued...
SASRA NOTES TO THE FlINA'cIAL STATEMEI%TS- Continued for the vegr ended 31 December 2024 18. MOVEMENT IN FUP*DS- continued Restricied Funds These comprise of various specific funds. Ihe main one beino ihe proYi5ion of fund to ini'esi in much ne¢dcd 11- equipment and softm'are together ii'ith appropriaie IT support to benefii both the R¢oional Managers and also (he main orrice. Endowmeni Funds The King Edward Vll Soldrers & Sailors Insiiiuie Fund- The purw)se for ihis fund is io provide accommgdation ror Scripture Reader5. especially in geographical areas froTn 'hICh ihe Consolidaced Fund 15 cx¢lud¢d, such as Scotland for instance. The cost of mainiainino
properties is mei b!. Ihe General Fund. IILiS fund is mainl}. held in TTysiee Siatus Invesimenis. All cash incorne is rcceived into the General Fund. The Chariiies Commission agreed thai cff¢¢tive from l O September ?0?4 ihe resrriciion li'ould be lifted on ihe capithl of King Edii'ard Vll Soldiers nd Sai19r5 ln5tiluie Fund. Th¢ Consolidaied Fund- Thc purpose for this fund is partly io provi(k a¢commodation for Scripture Readers and Ihe balance is held in Trustee Stsius Investments. All fdsh income is received inio the General Fund. The W H Dawson Fund- The purpose for this fund is partlv io provide accomm(Klation for Scripture Readers and Ihe balance is mainlj. held bn Tnre¢ Siaius Invesiments. Income from tnvestm¢nts and bank deFK)sil in(eresi is received into ihe General Fund. The Charities Commission approved the liftino of the restriction on capi101 for th¢ William Henry DaM'son Fund wa5 effeciive on 14 March ?0?5. The Granville Smith Fund- The purpose for this fund is panly io provide accommodaiion for Scriprnre R¢aders and the balance w&$ iniliall), held in Trusiee Staiu5 InvesimenLk bui was since sold and the proceeds held in a dep05ii accounL All c&sh income is received inio the General Fund. The Maner Reader Fund - ThÈs also a fund held in Trusice Siaiu5 Investment. and M'as sinc¢ sold and the proceeds are held in a dep051t a¢counL. All cash incorne i5 recei%'ed inio lh¢ General Fund. Trnnsf¢rs betw'een fund5 The iran5fer from thi F.ndowmeni Funds to the General Fund £7.7?7. represents dividend income received directly into the endowment funds which accordin4y io polic!. are uliimaiel}' transferred into the Generdl Fund. 19. EMPLOYEE BENEFITOBLIGATIONS A refcTTcd i(Tr in note ?? the iriennial acluarial valuaiion as ai Ihe i Isi December ?0?? show'ed a surplus againsi iechnical proyisions. The provision of£45.000 carried in the accounts at i l December ?O?i is no longer required and has bc¢n released in Ihe %'Vdr io i l December ?0?4. 20. RELATED PARTY DISCLOSURES The Council of the Soldiers. and Aviators, Scripiure Readers Associaiion 15 Corp)rate Trustee and Beneficiarv of variou5 funds comprisinip non-exp¢ndable capital sums underthe control of the Charity Commissioner for England and Wales. Th¢ Council is Corporate Trute and Beneficiary of The Consolidated Soldiers. and Aviators. Scripture Readers Fund (subsequenily referred io "The Consolidai¢d Fund-) 15 used in pan io provide accommodation for sCripw Rcaders. iviih ihe balance of this. iooeiher ]lh the ¢apiial of The Maner Reader Fund and The Grdnville Smith Memorial Fund. held in deposii accounts. The Council. under an order of the Gibralw Supreme Court. is also CoTpofdle Tnhsttt and Beneficiary of Th¢ King fdward Vll Soldier5, and Sajlors Insiiiute Fund. From the l O Seplember ?0?4 the restrictions on ihc Fund were lifted by the Chariry. Commi55ioner for England and Wale5. is Used 10 provide accornmodaiion for SeripiuTe Readers. e5peciallJ' in geographical area5 from hÈch Ihe Con501idaied Fund is ex¢ludcd. like Scotland for insian¢e. For the time bcing there aro no PrortieS held in Scoiland. so all ihe fund is being h¢ld in Trnstee SiaÈUS Investments. uniil a neH' propcTtY is purchased. Page ?9 continued...
SASRA 'OTES TO THE FINAIYCIAL STATEMENTS- Continued for the vear ettded 31 Deeember 2024 20. RELATED PARTY DISCLOSURES- continued The Council is Beneficiary of the W H Damson Tru51 H'hich w&% originally esthblished solely io provide accornmodaiion for the AssocÈaLion's Headquarters. The TTU5t has ils oii'n Trusieck responsible io ihe Charity Commission¢TS for England and Walcs. but the Council has pom'er io direci ihe Trustecs ii'ithin the limits of the Tnjsi Deed and Trusic¢s Investments Act 1961. As sole beneficiar).. The Associaiion acts as th¢ s¢creiariai for the Trusiee5. The Council is also Co¥p)raie Trustee of Miss Daniell's Soldiers. Flomes. a Registered Charity No. 233685 whose affairs are dealt with separately as this charit). falls 'ithin rhe definilioTt of a "connecied chariry raiher ihan a "brdnch" wilh respeci io ihc Siaicmeni of Rccornrnended Practice {Accouniing by Charicies). The chariiable COTnpany pays reni and seNice charg¢s io Miss Daniell's Soldiers. Homes in respeci of office space ai Havelock House. These ioiallcd £40.147 (?O?j.' £4? ?71). Included in 5UPPOrt costs. is the salary ond oiher ¢05ts &SSOCiatcd 'Ith the mana(Temeni of ihe Jackson Club on haifof Mi55 Danicll's Soldicr5' Home& amounting 10 £5?.5?8 {?0? j.. £5? 581. At 31 December ?0?4. as a resuli ofihe merger ihe receivable balance from Miss Daniell's Soldiers. Homes was cleared l?O))= £107,09)). 21. POST BALANCE SHEET EVENTS William Henry. DasOn Fund - Effective 14 Imarch ?0?5 the SASRA Council recciv¢d noiification from the Charhlies Commission thai li concurred with the Trusiees Resoluiion und¢r sectton ?8? of the Charitses Act ?01 I to lift the resrriciion on ihe use of the Fund"s capitsl. MDSH restructtsring- In January ?0?5 the SASRA Council made the decision. follow'ing the merger of MDSH wilh SASRA on J l December 20?4. 10 Close ihe Jackson Club. Gibraltar Barraeks. Minley. 22. PENSION COMMITMENTS Up uniil i 1st Dttember 21K)5. Ihe charity was Contributing iom'ards a defined benefit pension schemc providin8 beneliis bas¢d on final pensionable pa}.. li w'as decided io close Ihis pension filnd follo]0 the advite of an Independeni Aciuarv. and since ihen the charl. started 10 coniribuie ioM'ards a defin¢d coniribution scheme. Coniribuiions pavable in the year are charged in th¢ Statement of Financial Acriviiies. The p¢nsion charge for the financial year was £73.021 (2023.. £61.5611 Th¢ assets of the defined beD¢fJi pension 5chernc are being held separaieli. from those of ihe chariN. and are being invested wirh insurance companies. Full acwarial valuation5 are undenak'¢n b%, an indepcndenl. qualified aciuary ai inicrvals not exceeding three }'ears. The most recenil!. compleied full %'alLEation Is ai 3 ISÉ December ?0?2 and figures hav¢ b¢¢n updaied from thai dale w th¢ accounting date using data available io the qualified aciuary at the lime. The meihod of valuation w.hich has been adopt is ihe Cuent Unli Mcihod. and the assumpiions w'hich have Ihe mosi si4ynificani etTed on ihe results of ihc ?0?? valuaiion are those relatino lo the raie of reium on invesimenls and the rdies of increase in salaries and pensions. Th¢ basis of inflaiion used for sialutory pension increases and 5tatuiory revaluaiion forihc s¢hcme has chan(Ted from RPI (Retail Pn"te IndeNI 10 CPI Iconsurner Price Inflation). For member5 Ivho have nor l'et re11r. and wherever pennissible. it M'&% &ssumed thai ihe invesiTn¢llt returns vould be 4.07f/4 pa aftcr reiiremeni. and that preseni pensions i%'ould increase ai ihe rdie of ).870/0 pa for ihose subject to CPI and io RPI, and future pensions '0]d increase ai the ttie of 3.04°/'& pa for ihosc subjcci to CPI and ).)9Q/opa to RPI. The $179 value of the s¢h¢m¢'s assets as at (hat dale was £1.578.J99 and the prcseni value of the ioial protected 5cherne'5 liabiliii¢S was £l.i79.716 giving a SUTplus in the scheme. The moi'emeni in ihe dcficit from £45.000 10 zero has been recognised &5 a reduction in the provision tor liabililies and charges in th¢ chariry"5 financial siaiemcnis. The next f¥Jll assessment will be due ai 3 IM December ?0?5 Page 30 conlinued...
SASRA I%OTES TO THE FINANCIAL STATEMENTS- continued for the vear ended 31 December 2024 23. MEMBERS, LIABILITY Every member of the charitable company undertak-es iocontribui¢ such amouni as may be required {not ¢x¢¢eding 50p} Èo the chariiable companN's assets if li should b¢ wound up while h¢lsh¢ is a member. or within on¢ y¢ar after helshc ccases to be a member. P8g¢31
SASRA DETAILED STATEMEINT OF FlIN'Ah'CIAL ACTIVITIES for the vear ended 31 December 2024 20?4 ?023 INCOME AND ENDOWMENTS Donations and leEa£ies Donations Giftaid Legacies Iniangible income Fund5 Transferred from MDSH 1.0.$0.993 5).889 585,356 j4.9?8 190.279 858.186 51,)95 180.673 41,984 1.915.445 1.13??38 Other trading activities Sales 19.911 9,923 InYe5tmeni income Ren re¢eiv¢d Dividetld income Deposit account inieresi 79.Oi3 68.834 48.041 6.104 137.591 1?2.979 Toial ineoming resources 2.067.947 1 ?65,140 EXPENDITURE Raising donations and leg4cics Salarie5 aTrd eNpens¢s Social security Pensions Telephone Postage and Slationery Reni & rai¢s Heating &. cl¢allinu cos Publicity & adv¢rtising 5.260 470 397 5,564 517 243 18? 338 ?60 196 546 78 30.758 36.6?2 38.140 Investment managemeni costs Portfolio manageTnent Reni colleciion 8.75) 8.538 7.398 18,135 15.9i6 Charitsble 3ctivities Salaric5 and eipensL'S Social setrity Pension5 Oiher operating leases Carried forward 349.557 34.868 17.908 4i4.761 17.305 477.830 This page d(Ks noi forni part of the siaiuiory financial siaiements Pao¢ 32
SASRA DETAILED sTATF.ME'T OF FI.NANCIAL ACTIVITIES for th¢ ve2r ended 31 December 2024 ?0?3 Ch8ritable actii'ities Brou&iht for¥vard Telephone Posiage and stationery Rtni & rates Computer costs Heaiin¥p & cleaning Travel & motor expenses Oih¢r staff costs Accommodaiion costs Conference5 expenses Relocation c051S Los5 on sale of tsngible fixed &s5elS 477.830 434.761 4.695 ?? 138 3i.041 23.188 700 19.966 20.779 7.759 41.984 6.576 8.001 491 15.ii9 16.669 7.475 i4.928 13,060 568.382 Support costs Management Salaries and expenses Social security Pensions Other operdring leases Insurance Recruitmeni costs Telephone Cop>'inD. postage & stationery Accommodation cosis &. maint Rent &. sLrvice charges Compuier e¥pens¢s Out50urce seryice fees Professional fees Trdv¢I &. moior expenses Other siaff costs Trdining Pllblicaiion Sundries Freehold property Fi.Irures and flttinus Motor vehicles 4?7.691 40,810 390,41 ? 36.107 ?6.451 1,049 13,363 194 13.544 5.779 ?3.747 40.147 16.0?2 4.336 34.969 9.601 9.887 46.181 4.786 7.497 7.4?5 1.400 l j.j9? 456 691,841 698.289 Goi'crnance costs Audirors, rcrnunerdiion Auditors, remuneraiion for non audit WOTk 10.120 ?.000 10.61? Toial resoue$ expended 1.)59.988 l.i33.559 Net ineomel(expenditure) btfore gains and losses 707.959 (68.419) This page does not fomi part ofthe statutoTr financial statements Page 33
SASRA DETAILED ST ATEMEYT OF FI).4,clAL ACTIVITIES for the vear ended 31 Deeember 2024 Re3li5ed recogni5ed gains and losses Rcalised giains.'11055esI on fixed aet investsnen 1,065 Net incomellexpendilure) 743.315 67.i54) This page does not form part of the Maiulor), financial sthiemenis Page )4