FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2024 FOR THE SOCIETY FOR ARMY HISTORICAL RESEARCH 'j921.1 The Society for Army Historical Research Regislered Charity No. 247844 Page 1
THE SOCIETY FOR ARMY HISTORICAL RESEARCH CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2024 Page Report of the Trustees 3-10 Statement of Financial Activities Balance Sheet 12 Notes to the Financial Statements 13-15 Detailed Statement of Financial Activities 16 Independent Examiner's Report 17 Page 2
THE SOCIETY FOR ARMY HISTORICAL RESEARCH REPORT OF THE TRUSTEES st FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their Report and Financial Statements for the year ended 31 December 2024 Patron Field Marshal HRH The Duke of Kent KG. GCMG, GCVO, ADC(P) President Lieutenant-General Sir Edward sm-osb0urne, KCVO, CBE Vice Presidents Rev. Dr P Howson, B.Sc, MA, MBA, PhD, FCMI, FRHistS Professor B T Reid, MA, PhD, FRHistS, FRGS, FRUSI, FKC, FRSA Lt-col. D Saunders Major General A E G Truluck, C8, CBE, BA REFERENCE AND ADMINISTRATIVE DETAILS Principal Address The Society for Army Historical Research Vincent's Yard 23 Alphabet Mews London SW9 OFN Trustees A Bamford, MA, PhD (Secretary. resigned 22 April 2024 (AGMI) Professor l F W Beckett, BA, PhD. FRHislS, FSAHR ffempler Medal Sub-committee Chairman) R D M Butcher, BA, MA (Student Member) A Cormack, BA, PhD, FSA, FRHistS (Editor) C E D Divall, MA, FINS (Schools) F W Hyde (Events, appointed 18 March 2024) N Martin, PhD, FHEA (Grants) Z Micic, MA (Essays) E O'Keeffe, DPhil (Digital and Social Media Manager) C D Palmer, Bsc, ARSM (Membership Secretary, resigned 2024 AGMI R R Saravaiiamuttu, BSC, MA, FCA ff reasurer) C R F E Street, FCCA, FSAHR (Membership Secretary. appointed 26 March 2024) A Simpson, BA, PhD, FRHislS (Book Reviews Editor, appointed 29 January 2024) P K Swabey, BA, FCG (Secretary) Major-General A E G Truluck, CB, CBE, BA (Chairman) Investment Sub-committee C D Palmer, BSC, ARSM R R Saravanamuttu BSC. MA, FCA (Chair) Major-General A E G Truluck, CB, CBE, BA Bankers Natwesl Business Banking, PO Box 16204, Birmingham, DEPO 005, B2 2WP Independent Examiner SRG LLP, 10 Bolt Couri, London, EC4A 3DA Page 3
THE SOCIETY FOR ARMY HISTORICAL RESEARCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Structure The Society, which was founded in 1921 , is an unincorporated charily, registered with the Charity Commission for England and Wales (regislration number 247844). Governing Document The governing document is the Society's constitution which was amended and approved by the membership at the 2022 AGM. It is available lo view on the Society's website (www.sahr.org.uk). Objects The objects of the Society are the encouragement and development of Army Hislorical Research and the promotion and maintenance of regimental and military traditions by means of a charitable characler, including.. (a) Research into all aspects of the British Army or ils predecessors. and of the Land Forces of the Empire and Commonwealth. (b) Publication of a Journal to be called T17e Joiiri7al of tl?e SoGiety for Ariny Historical Researcli, containing original articles, extracts from rare and not easily accessible old military works and manuscripts. pictures, drawings, notes, questions and answers (c) Advice and encouragement to those responsible for regimental and other military museums. (d) Arrangement of lectures and meelings on matlers relating to the Society's objects. Patron, President, Honorary Officers and Trustees (extract of the Constitution) The Society shall have the following honorary positions the holders of which shall not be officers of the Society.. a) A PATRON b) A PRESIDENT who shall be chosen by Council. He or she shall nol, at the time of seleclion or aftenvards, be an approved member of Council and need not, until after selection, be a member of the Sociely. He or she shall be proposed lo the membership at the next Annual General Meeting and shall be approvedlendorsed al that meeting. He or she shall be eligible for re-selection for further terms of five years consecutively until helshe shall declare his/her wish to retire. (c) VICE-PRESIDENTS who shall be elected for life at an Annual General Meeting. And the following functionaries who shall be Officers of the Society.. (d) An HONORARY SECRETARY, HONORARY EDITOR, HONORARY TREASURER AND HONORARY MEMBERSHIP SECRETARY and such other Honorary Officers as may be deemed necessary, who shall be nominated by the Council, and elected to serve for one year at each Annual General Meeting. Any vacancy that may occur during the year shall be filled by Council. Council (extracl of Ihe Conslitution) (a) The managemenl of the Society shall be vesled in a Council of not more than thirteen members of the Society. Each Member of Council will serve as a Truslee of the Society. A minimum of five Members shall form a quorLIm. Each Member of Council will normally be responsible for an area of the governance of the Society. The area of responsibility shall be indicaled on any election paper. Where a Member possesses more general qualilies Ihal may be useful to the Society, and a portfolio is not required, they shall be annotated as 'without portfolio. (b) All Members of the Council shall relire at each Annual General Meeting, They shall be eligible for re-eleclion. (c) Ordinary members may nominate fully paid-up members of the Society for election to Council. In the event of there being only one candidate for each post, the eleclion of Council shall be laken en bloc. In the event of a nomination for a particular posl being received by the announced date and a vote being required, the Secretary shall inform Ihe membership prior to Ihe Annual General Meeting. Statements froin candidates giviiig their reasons for wishing io stand and their qualifications for the post in question shall be circulated by the Secretary. A vote will be held al the Annual General Meeting using a secret ballot and the person with Ihe most votes will be declared as elected. {d) Council shall have Ihe power to co-opt additional Members of the Society to fill vacant portfolios. It may also co- opt additional persons, who need not be individual members, to assist with its work. As with Trustees any such appointments shall be until Ihe next Annual General Meeting Such Members will not be able to administer or disburse Society funds. Any non-members shall be non-voting Members. Co-opled non-members will not be required to serve as Trustees of the Society. Page 4
THE SOCIETY FOR ARMY HISTORICAL RESEARCH REPORT OF THE TRUSTEES sl FOR THE YEAR ENDED 31 DECEMBER 2024 (e) Council shall, in addition, find from amongst the membership a member who is willing and able to serve as Chair. Council will recommend the person for election at the Annual General Meeting for immediate appointment. On election the Chair shall serve normally for a maximum period of five years. Council may recommend a single extension of a further period of up to two years. (f) Trustees wishing to resign from Council shall be taken lo have done so as from the date of their letter of resignation. Resignation from Council does not absolve the former Truslee from accounting for his or her conduct during the period of hislher trusteeship in the event of investigations by the charity authorilies in re12tion to the Society during the period when the former Trustee was a member of Council. (g) In the event of more than thirteen Society members offering ihemselves as Truslees in any one year, the Honorary Secretary shall endeavour lo negotiate a reduction in the number offering themselves for Council. In the event of failure to achieve this, all of those offering Ihemselves shall supply statements of the reason for their candidature eight weeks before the AGM which shall be circulated to all individual members of the Society by post with a voting form for return lo an independent examiner before the date of the AGM. The elected candidates will then be offered to the AGM for approval. Committees (a) Council may delegate responsibility to specialist committees, who shall choose their own officers, keep minutes and report to Council regularly through an Officer or an approved member of Council. (b) All Committee decisions are subjed to the approval of Council and a Committee shall not exceed the level of expenditure allocaled to it by Council. The Society currently has an Investment Sub-commitlee and a Templer Judges Sub-commiltee. FULLFILLMENT OF OBJECTIVES The Trustees have had a regard to the Charity Commission's general guidance on Public Benefit when reviewing the Society's aims and objectives and planning future activities. The activities which show that the Society has fulfilled its objects are discussed in the following Chairman's and Officers, reports. Page 5
THE SOCIETY FOR ARMY HISTORICAL RESEARCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2024 Chairman's Report This will be my last annual report on completion of a decade as Chairman andlor Vice President of SAHR. It is supplemented by detailed reports from the Society Officers which l entirely endorse. The results of last year's Strategic Review are now bearing fruit and our relationship with Ihe National Army Museum continues to flourish. The Society's bedrock 'deliver2bles' (vis the Society Journal, Templer Book Competition, and Research Granis) remain as strong as ever. Our social progr2mme of dinners and leciures are growing in popularity - as are battlefield walks as & when members are able to conduct them. And with a new influx of younger members on Council, we look forward to a rejuvenation of our student programme - of which the recent Research Symposium in Leeds was a fine example. Having delayed it as long as possible, the recent increase in subscriptions has taken the pressure off Society finances and I thank the membership at large for their underslanding and support in this respect. Although we inevitably lost a few members as a result of revisiting Standing Orders, our membership numbers remain impressive for a specialist society. All this would not be possible without the dedicalion of the Officers and portfolio members sitting on SAHR Council ta whom I, and the membership as a whole, owe a huge debt of gratitude for their time, diligence and expertise. Thanks to Iheir support, l am confident that l am handing over (for the second timel) a Society in fine fettle and with an assu red future ahead of it. Ashley Truluck Chairman January 2025 Honorary Secretary's Report The year 2024 began with a number of vacancies or upcoming vacancies on the Society's Council, Ihere being no- one in post as Events Officer or Book Reviews Co-ordinator, and measures were put in place to fill these vacancies as well as those posts due to become vacanl as oflhe 2024 AGM. Dr Andy Simpson was co-opted to Council in January 2024 to fill the role of Book Reviews Editor and Freddie Hyde and Charles Street were co-opted to Council in March 2024 to fill the role of Events Officer and Honorary Membership Secretary respectively. The Society's AGM took place at the National Army Museum on Monday 22 April. Lieutenant-General Sir Edward Smyth-osbourne was elected to replace Lieulenant-General Sir Barney White-spunner as President, who stood down as President after twelve years, service, Mr Hyde, Dr Simpson and Mr Street were duly elected, and Peter Swabey, co-opted in November 2023, was elected lo replace Dr Andrew Bamford as Honorary Secretary. The Chair of the Society, Major General Ashley Truluck, thanked Sir Barney and Dr Bamford for their services to the Sociely. The AGM was followed by a most interesting lecture from Professor Tony Pollard of Glasgow University, who spoke about the archaeology of the Bsttle of Waterloo, including the recent findings from work carried oul by the INaterloo Uncovered project. After Professor Pollard's lecture, the Sociely was honoured to be joined by our Royal Patron, Field Marshal HRH The Duke of Kent, who was received by Ihe President and the Director, National Army Museum. His Royal Highness presented certificates for ten new Fellowships of the Society and the Chapple Prize for Best First Book lo Lieulenant-colonel Richard Farrimond for Birdie.. More t17ai) tl?e Soiil of ANZAC.. Field Marslial Lord Birdwood of ANZAC and Totnes 1865-1957 (Helion). We were delighted to be joined by members of the family of the late Field Marshal Sir John Chapple (former SAHR Chairman and President). The Templer Medal for 2024 was won by Dr Adam Marks for Eiiglai?d ai?d tlie Tliirty Years War (Brill) bul he was unfortunately unable to join us at the AGM. Page 6
THE SOCIEry FOR ARMY HISTORICAL RESEARCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2024 The evening concluded with a drinks reception generously sponsored by His Royal Highness the Sultan of Pahang. As well as the AGM and associated activities, members also had the opportunity lo attend other events during the course of the year, Ihe highlight being the Templer lecture on 20 November at the historic East I ndia Club, attended by some 70 members, given by Dr Adam Marks, at which he received the Templer Medal from the President. Forty members opted to stay on for an excellent dinner in the elegant Clive Room followed by an informal get-together in the Bar. Other events included a guided walk around sites of Military Historical interesl in Central London, led by our Honorary Treasurer, Rohan Saravanamuttu, on 12 October. The Society's prog ramme of online events continued, with lectures taking place throughout the yea r, on subjects ranging from Bonnie Prince Charlie on the 8attlefield and the Commissarial Department in Flanders, 1793-95 to the Battle of Alam Halfa, 1942 and British Defence Policy in the Cold War, with other subjects including The Long istory of Women in Combat and the army on stage. For 2024. grants were awarded as foiiows.. One Major Grant of £1,000 to Elisabelh Rivard, University of Virginia. Elisabeih's PhD Ihesis is tilled "Let him learn the Art of Design.. The Promise of Professional Drawing in mid-Eighteenlh Century Britain The granl will support research al the Royal Engineers Museum, Kent, and Sandhurst Collection C8mberley to allow Elisabelh to conduct a comprehensive survey of army draftsmanship in the eighteenth century. Two Minor Grants of £500 each to Mick McTiernan, Roy21 Holloway, University of London and lo Ellie Grigsby, Reading University. Mick has been awarded a grant lo support archival research and research assistance at several Cretan archives. Mick's PhD seeks to explore British military involvement in the European intervention in Crele between 1897 and 1913 and to consider the implications of this peacekeeping role on the British army. Ellie's PhD considers 'the face of war,: facial disfigurement of soldiers in World War One. The grant will assist Ellie to undertake research at several UK archives to investigate what life was like for facially-disfigured men - and the nursing support they received. There were no Independent Research Grants made this year. The Society gratefully acknowledges the kind support of the National Army Museum in sharing the costs of the grants and book prizes with the Society. Peter Swabey Honorary Secretary January 2025 Page 7
THE SOCIETY FOR ARMY HISTORICAL RESEARCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2024 Honorary Editor's Report Contributions to the Journal during 2024 have again come from far and wide and have covered the usual, highly diverse subjects which, I hope, keep the membership interested in our publication. Ranging from corruption in Queen Elizabeth I's army in I reland, through the Marlborough wars, to the anthropological collecling aGlivities of an officer in garrison amongst the First Nations (I ndiansl on the frontier of Canada, lo the surgery of the First World War and the efforts of a misfitling conscript of Ihe Second World War to find a niche for his skills, these articles should satisfy "red" readers as well as "khaki" readers. The Hon. Editor is most grateful to all those - members and non-members - who have expended much time an(J effort in producing high qualily material for the Journal. l also take this last opportunity to mention the death of 2 most delightful and co-operative contributor, René Chartrand, who will be sorely missed. Dr Andy Simpson, the new Reviews Edilor, has quickly settled himself into his role and has supplied ample book reviews for Ihe Journal. The Hon. Editor is most grateful for his enthusiastic co-operation and records his grateful thanks for the service rendered. Andrew Cormack Honorary Editor January 2025 Honorary Membership Secretary's Report Membership declined during the year from 751 to the year end figure of 730. During Ihe year the Society gained 60 new members, losing 81, for a net loss of 21. During the year an effort was made lo increase the reporting funclion of the membership management system (which has always been a powerful tool for the Society). Obviously, l am unable to provide comparative figures for the previous year, but the geographic membership split is as follows - United Kingdom 516 (710/0), United States 111 (15 %), Canada 32 {4 %), Australia 15 (2%), Rest ofthe World 56 (8010). Because the amount received for the UK Student subscriptions did not cover the annual cost of the journals, the decision was taken at the 2024 AGM thal their subscriptions should be digital from Jan 2025. The net result was that 40 student subscriptions converted to digital. The result is Ihat we now have 84 digital subscribers. Charles Street Honorary Membership Secretary January 2025 Page 8
THE SOCIETY FOR ARMY HISTORICAL RESEARCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2024 Honorary Treasurer's Report The Sociely had a modesl operating surplus of £835 in 2024 which was partly the result of some expenses being deferred to 2025 and not paying out the full budgeted amount of research grants. The expense base i-emains subjecl to inflationary pressures, such as increases in postage costs, but the financial position is expected to be stable in 2025 because of the increase in UK subscription rates that were voted Ihrough al the 2024 AGM. The Society has a policy of holding a minimum amount of reserves to protect its aclivities against potential eventualities and to provide working capital, and to hold an additional amount to provide grealer resilience and generate more investment income to support the Society's activities. At its annual review of the Reserves Policy, the Council evaluated the risks and the effect of inflation and decided to increase the minimum requirement from £32,000 to £35,000. 11 decided to maintain ils target of building up additional reserves of £15,000 in excess of the minimum over four years. The position at the year end was as follows.. 2024 2023 Actual eligible reserves Minimum requirement Surplus over minimum 44,175 35.000 9.175 40,924 32 000 Rohan Saravanamuttu Honorary Treasurer January 2025 FINANCIAL REVIEW There was a net increase in funds in the year of £2,730 (2023.. a reduction of £5,127). This was made up of an operating surplus of £835 (2023.. deficit of £3,305), and investment gains of £1,895 {2023'. losses of £1,822). There were no exceptional events in 2024. Investment markets were generally benign in 2024 and that is reflected in the result. The Society incurred costs of £5,459 on governance (2023.. £6,948). Expenditure on the Society's charitable activities amounted to 890/0 of total expenditure for the year (2023.. 87 % ). Restricted funds Restricted funds at 31 December 2024 amounted to nil {2023.' nil). Unrestricted funds Unrestricted funds at 31 December 2024 amounted to £46,071 (2023.. £43,341). These funds represent the resources available to meet Ihe Society's day-to-day operating costs. Page 9
THE SOCIETY FOR ARMY HISTORICAL RESEARCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 Trustees, Responsibilities in relation to the Financial Statements Legal regulations require the trustees to prepare financial slalemeiits for each financial year which give a Irue and fair view of the charity's financial activities for the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently., make judgements and estimates that are reasonable and prudent., stale whether applicable accounling standards and statements of recommended practice have been followed subject lo any material departures disclosed and explained in the financial statements, prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping accounting records which disclose, with reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial stalements comply with the Charities Act 1993 and 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. By order of the Council Major-General A E G Truluck, CB, CBE, 8A (Chairman) Date.. 17 March 2025 Page 10
THE SOCIETY FOR ARMY HISTORICAL RESEARCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 Total funds 2023 Total Funds Unrestricted funds Restricted funds Notes INCOMING RESOIIRCES FROM: Voluntary income 15,456 15,456 14,685 Investment income 1,242 1,242 845 Cliai'ilable activities Subscriptions Sale of journals and books Advertising in the journal Cateringlevents Other 30.669 254 30,669 254 29,959 435 75 2,142 887 1,449 1,552 1,449 1,552 Tolal iii coi)i iiig I'esoii i'ces 50,622 50,622 49,028 RESOIIRCES E,XPENDED C'liai'itable <iclivilies Printing and postage of journals Prizes and grants Templer Medal presentation, lecture costs Sponsorship Govei'ii lice costs 28,580 6,531 9,467 (2501 5,459 28,580 6,531 9,467 (250) 5.459 28,214 9,766 8,905 500 6,948 Total I'esoii i'ces exi)eii(led 49,787 49,787 52.333 NET INCONqINGI(01,'TGOINGI RESOIIRCES 835 835 (3,305) Otliei" I'ecogn ised 04iiIisI(10.4ses) Losses on investment assets 1,895 1,895 1.8221 Net In oveiiieIit iii fuiids 2,730 2,730 (5,127) RECONCILIATION OF fiiNDS Tot1¢ I fiiiids bi"oiiglit I'oi'wa I'd 43,341 43,341 48,468 TOTAL FIIN'DS C.4RRIED FORWARD 46,071 46,071 43,341 Page11
THE SOCIETY FOR ARMY HISTORICAL RESEARCH BALANCE SHEET AT 31ST DECEMBER 2024 2024 Tolal funds 2023 Total Funds Unrestricted funds Restricted funds Notes FIXED ASSETS Investmenis 34,052 34,052 32,237 CURRENT ASSETS Stocks Debtors and prepaymenls Cash at bank and in hand 1,896 6,293 20,240 1,896 6,293 20,240 2,418 3,600 18,156 28,429 28,429 24,174 CREDJTORS Amounts falling due within one year (16,410) (16,410) (13,070) IET CURRENT.4SSETS 12.019 12,019 11,104 TOTAL.4SSETS LESS CU'RRENT LIABILITIES 46,071 46,071 43,341 NET ASSETS 46,071 46,071 43,341 FUNDS Unrestricted funds 46,071 46,071 43,341 TOTAL FUNDS 46,071 46,071 43,341 Approved by the Truslees on 17 March 2025 and signed on Iheir behalf by.. Major-General A E G Truluck, CB, CBE, BA Page12
THE SOCIETY FOR ARMY HISTORICAL RESEARCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 .ACCOIINTING I)OLICIES Accounting convention The financial statements have been prepared under the historical cost convention, and in accordance with FRS 102, the Charities Act 2011 and the requirements of the Statement of Recommended Praclice, Accounting and Reporting by Charities. Investments Investments which are held as fixed assets are initially slated at cosl and revalued each year. The gain or loss on revaluation is taken to the Statement of Financial Activities. Incoming resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related 10 the category. Where costs cannot be directly attributed lo particular headings they have been allocated to activities on a basis consistent with the use of resources. Stocks Stocks of back-issue magazines held by the Society are included in the financial statements and are valued at the lower of cost and net realisable va lue, after making due allowance for obsolete and slow moving items. Included in stocks are badges, lies and the Society's Templer Medals. Taxation The charity is exempt from tax on ils charitable activities. Fund accounting Unreslricled funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by Ihe donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financia statements. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the period of the le£se. INVESTI7ENT INICOME 2024 2023 Fixed asset investmenl income Bank inlerest receivable 1,162 80 746 99 1.242 845 Page13
THE SOCIETY FOR ARMY HISTORICAL RESEARCH NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2024 TRLISTEES, REMLINERATIONI AIND BENEfiTS The trustees received no remuneration in the year ended 31st December 2024 nor for the year ended 31st December 2023, however they did receive a benefit in the form of a dinner. The cost of this benefit was £483 in aggregate (2023.. £149). Trustees, Expenses 11 trustees were reimbursed for expenses incurred on behalf of the Society. These were for travel expenses of £860 12023.. £1,749). postage and stalionery of £842 {2023-. £456), software subscriptions of £726 (2023.. £482), and other costs of £nil (2023.. £189). FIXED ASSET INVESTMENTS al Analysis of investments 2024 2023 Managed funds Real estate investment trust Total investments Cash at investmenl manager Total 23,847 10080 33,927 125 21,422 31,778 459 b) Analysis of investment movements 2024 2023 Opening book cost Opening investment holding (losses)/gains Opening market value 34,436 2.658 31,778 37,544 34,266 Movements in year.. Disposals - proceeds Purchases at cost Gainsl(losses) on investment in the year (746) 1,000 1,895 (21,383) 20,717 1.822) Closing market value 33,927 31,778 Closing book cost Closing investment holding losses Closing market value 35.436 34,436 33,927 31.778 STOCKS 2024 2023 Stocks 1,896 2,418 Slower moving items of stock have been written down by a £327 impairment charge in the year (2023.. £501) Page14
THE SOCIETY FOR ARMY HISTORICAL RESEARCH NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2024 DEBTORS: Ami OUhlTS FALLINIG DIIE WITHIN ONL IEAR 2024 2023 Prepayments Other Debtors 3,132 3,161 600 3.000 6,293 3,600 CREDITORS: AMOUNTS FALLIP*'G DI,'E WITFIIN ONE I'L.4R 2024 2023 Trade credilors Other creditors 10,401 6.009 7,903 5,167 16.410 13,070 MOVEMENT IN FliiNDS Net movement in funds At1.1.24 At 31.12.24 Unrestricted funds General fund 43,341 2,730 46,071 TOTAL fLINDS 43,341 2,730 46,071 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and (losses) Movement in funds Unrestricted funds General fund 50,622 49,787 1,895 2.730 TOTAL FUNDS 50,622 49,787 1,895 2,730 Page15
THE SOCIETY FOR ARMY HISTORICAL RESEARCH DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 INCOMING RESOLIRCES Voluntai'y ill coine Donations Gift aid 12,255 11,685 3.000 14,685 15,456 I nvestmeiit in coiiie Investment income 1,242 845 iiconiin g resoiii'ces fi.oni cl)l< 1"itable activities Subscriptions Sale of surplus journals and books Advertising in Ihe journal Cateringlevents Other 30,669 254 29,959 435 75 2,142 887 33,498 1,449 1.552 33.924 Tot¢il incomtno i'esoiij'ces 50,622 49,028 RESOURCES EXPENDED Cli¥2I'it<ible <1Ctivities Printing of four journals Postage of four journals Prizes and grants Sponsorship Events and lecture costs 18,174 10,406 6,531 (250) 9.467 44,328 16,714 9,500 9,766 500 45,385 GoiieJ'Ii<qiice costs Office, administration and travel Accountancy Bank charges 3,271 1,686 502 5,459 5,064 1,442 442 6,948 Totrfll I'esoui'ces expended 49,787 52,333 Net iiicoiiiellexpeiiditu i'e) befoi'e g¢llIlS <iiid losses 835 (3,305) Recogii ised gains ¢ind losses Gainsl(losses) on fixed asset investments 1,895 (1,822) Net in conie/lexi)enditiii'el 2,730 {5,127) Page16
THE SOCIETY FOR ARMY HISTORICAL RESEARCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I repori to the trustees on my examination of the accounts of the Charily for the year ended 31 December 2024, which are set out on pages 11 to 15. Respective responsibilities of trustees and examiners As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("Ihe Act"). I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(bl of the Act. Basis of independent examiner's report An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whelher the accounts present a true and fair view and the report is limited to those matters set out in the statement below. Independent examiner's statement I have completed my examination. I can confirm that no malerial matters have come to my attention in connection with the examination which gives me cause to believe Ihat in, any material respect.. the accounting records were not kept in accordance with section 130 of Ihe Act., or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requiremenls concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008, other than any requirement that the accounls give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Independent Examiner Name.. Haydn C Wood Relevant professional qualification or body.. FCA Address.. SRG LLP, 10 Bolt Court, London, EC4A 3DA 2025 Page 17