CHARTfY REGISTRATION NUMBER: 279644 West Indian Association Of Service Personnel (WASP) Unaudited Financial Statements 31 March 2024 KBM Chartered Certified Accountants 1 Concord Business Centre Concord Road London UK W3 OTJ
West Indian Association Of Service Personnel {WASP) Financial Ststements Year ended 31 March 2024 Page Trustees. annual report Independent examinerfs report to the trustees Statement of linancial activities Statement of financial position Notes to the financial statements 10
West Indlan Association Of Service Personnel (WASP) Trustees. Annual Report Year ended 31 March 2024 The trustees present their rewrt and Ihg unaudi18d financial slalements of the charity for the year ended 31 March 2024. Reference and admlnlstrative detsils Reglstered charity Dame West Indian Asswalion Of Ser¥e Personnel (WASP} Charlty registration number 279644 Prfnclpal office 165-167 Clapham Manor Street London SW4 6DB The trustees Dr. S Marshall Mr. P Lee Mr. O D Thompson Mr. D Thompson Ms. K Kensiroton Mr. W t)ouglas (Appointed 8 November 20231 {Appointed 28 March 20241 Independent examlner KBM UK LTD 1 Concord Business Genlre Concord Road London UK W3 OTJ
West Indian Association Of Service Personnel (WASP) Truslees. Annual Report (eonlll Year ended 31 March 2024 Stru¢ture, governance and management Chairman Treasurer Assisiant Treasurer Secretary Public ReEalions Officer Dr S Marshall Dr S Marshall - Mr D Garnes - Mr C Mckoy - Mr P Smith GOVERNING DOCUMENT The organisalion is a charity and registered wth the Charity Cornmission on 16 January 1981. The organisation was established under a consbtution whh eslaNished the obje¢ls and KKiwers of the charitabla organisalion. APPOINTMENT OF THE BOARD OF TRUSTEES I trustee's appointrnenls were fecommended lo the executive committee after a thorough search for suitable candklates and Fxltential trustees und&rgo criminal records bureau chècks and other dlsclosure prsseS prior to appointment. On appointment, each trustee is gwen a standard truslee briefing pack a1 undèrgoes an induction briefing. Annually, trustees are Uale folk)wing the Annual General Meeling. A register of trustees, inleresls is helj centrally. The effectiveness of the executive committee is assessed during the annual revtew of th8 management plan. We are conlinuiThJ looking lor a new trustee wth various e[se arKJ skills to improve the governance of chartty. DECISION MAKING Trusiees, meeting as an execthNe coJyJmrttee 12 times per year al least. approv6 policy. delegate the day-lo-day managemenl of staff and volunteers and receive retKJrts on actwities and their pmgress. AnnUly, in January, the executiv8 committee approves the outline tJsiness objectives and reviews Ihe c8ntral income and expenditure Iget, recommendirg adjustrnents as r*cessary for the next year. The executive committee rewew reports, makes decisions on any poficy issues which may arise and direct how these issues shoukl bg implemented. The association's general membership meets 6 limes pèr year and the exewtive committee consMler5 arKI rewews proposal put torward by the general membership. RISK LIANAGEMENT The 8oard of Trustees has coThlucled a rewew of the major risks lo which the charity is exposed. Where appropriat&. systems have been estabb5hed to mitigate the risks thè charity faces. Inlemal control risks ar8 minimized by the implemenlalion of procedures for authorization of all Iransaclions. Procedures are in plac8 to ensur8 compuanca wth health and safety of voluntsers and users of the Association. ORGANISATIONAL STRUCTURE The Board of Trustees mèetings hava baan held regularly to direct. oversee and assess the administration of the organisation and lo consider Oprx>rtUne$ for fundraising. With the assistance of volunteers. the organisalK)n has en alje to locus on wvemance, building maintenance and outreach thrDughout the financial year. Th8 Executwe committee is made up of Chair, Vice Chair, Treasurer and Assistant Treasurer, all of who are elected every three years. Each year a Public Relations Officer arKI a Welfare officer will be elecled.
West Indian Association Of Service Personnel (WASP) Trustees. Annual Report {t•)nVnued) Year ended 31 March 2024 The Executive committee apwxnts the folbwng committee members - Predent. Vice President, Secretary and Assistant secretary. They serve for so long as the Committee decides. In addition. the Committee can apFX)int up to 4 co-opted members. PUBLIC BENEFrr The trustees confirm that they have complied wttt) ihe duty Charities Act 2006. Part 1. section 4 to have regard lo thè Charty Comrnission's general guidance as to guidance as to opgration ol public requirement. The charitls obiectives and achievements are set out below. Objectives and actlvities With regards to the guKlance ol the Charity Commission on public nefft. the trustees confirtn that the objecls ol WASP as established and IrOr[lra1ed are.. 1. To relieve the need, hardship and distr ol lalmen, women, chiktren and their (kperKlants Irom the West Indtes Iblwidows. orphans and dependanls ol those who have served in Her Majestys Navy, Amiy, Air Forc& or Auxiliary FOrS or in the mCrcanti Marine during hosliles, afloat or in any Red Cross organisation whilst Servi wfth IEr MajesV5 Armed Forces- who are in necessitous financial clicumstances orwho are suFlering from ill health or injury. 2. To advance the education of ex-serviGemen and women ol Ihe W1 Indie5, Iheir wKlows, wi()wers, children and dependants wth facilities for recreation or other 1gisur8 time occupation in ihe interest of social weare with the obiecl of improving the cOl[OnS of Itfe of such persons. Our main activities include.. - The wowsion of Ireshty cook8d lood. nutTTbous. hol meals once per week lor an average of 16 veterans - Social events 3 b'mes per to inckth dominoes. cards. krt)ard games, ng0. trips and lundraising events - Wemare outreach for those veterans wrilh sE)ke ne&ls to includ8 housing, employment, health issues and finances. In atlition, Ihere has been a series ol speakers and workshops throughout the year to provide education on hedlh issues relaliry to blood pressure, prostTate and bowel cancer. Mar¢y of the social events include listening lo music, contributing to WWI and WW2 exhitmtions and Workshops and providing a sustainable social hub. To achieve the 0-eCts ol the association we aim lo= MaÈ)age our actiwti8s, both voluntary and prOfesSnal. to support more effictty ex-serving embers ol the Armed Forces and their families. - Devebp puNic awareness of the Char(ty through carefuSty coordinated campaMJns Raise suflicienl fund5 to". ¢stthish aThl maintan a year-on-year reserve fund. ensure there is no running cost deliot in our annu expendilure: lo purthase, refurbtsh arKJ mantain the fabric of our HQ.
West Indian Association Of Service Personnel (WASP) Trustees. Annual Report ftton Year ended 31 March 2024 A¢hlevements and performance The West Indian Associab'on ol sel¢e Personnel (WASP) continue to experience difficult trading post pandemK. Whilst the public may have extra $h to spend, and that may include some of our members, W ASP was not that fortunate. The association do, however. acknovAedge the generous c¢ntributions made by members lo us. Equalty. a sirre thank you to the 'WASP Volunteers the unsgllish backbonè ol this charity- Donatlons: We continue lo enjoy a steady revenue from donations, this woukl we believe Increase however ihis client group do not use todays technology. Members: Our membership nutnbers a slabled" however more people are using the facility. We have purchase a new mèmbership system that also acts as a dooi entry system and food ordering tty)Is. 11 is yet to come fulty on stream, but it prepares WASP arKI wovKle securÉty as well as a trace and Iraeking systems that is increasingly required in lodals society. Food Bank: WASP fc>od bank is gcxl sent sals our mernrs as they rely more on this service more than any other. It is an un-conlortable slale of aflwrs. lo see people whg have worked for half a century and now using a food bank. WASP Trustses has initiate getting increase resources for our members to retain their dHJnity and se-reSpect. Domino Teams: We have hekl our own league malches and continue the socia event to maintain a community spirit and assist the ellects ol seM4solatitins by MeMr$. WindTush- This is a very concemiTrJ strtuation due to SU4xoN many veterans e1ible lor Windrush sehemè have gone underground. This is a worrying change ot events. We are nevertheless he to provide them with whatever they ne&1. Intergeneralional Domlno: WASP has embarked on an initiatNe ot using domino as a loll lo encourage young peOe to improvè their maths by this game and other SOCI sIL5 including conflict resolutÈon. This was a Common pract in the Caritrt)ean. Zoom: For the lorese8able future this seems to the mode of communication to impart infomiation. Whilst our membeTS are plawng calch up WASP has aL¥4uired a new set of m8mb8rs a good knoedge of this technology. Autlsm: Continues to be a much under rat seNce but our Aultsm VoKe are making a pathway by educating and providing much needed hand hekl seNice to the communty. Covld 19: WASP eontinue to provvJe for ts members to combat this disease, w8 are gnsuring we do all the right things. Thanks and Gratitude Thg TrLJStees of the Board and Ihe membership ol WASP woukl like to SinrelY thank the Chaiman of WASP from 2012 - 2023, lor the signtficant contrilyJtion to the asso¢iat"on its members and the wider Community. Under his stewardship, we aslablished the WASP annu March Past on Remembrance Sundays, Ihe focyJ, and cioths bank, became financialty ind8p8ndent and increase the number of other organisations and people using Dur HQ, thereby increasing seNices, and providing greater advocacy. Th8 bases of that team remains and wth the new Trustees will hopalully. continue th8 direction estak1$hed. The input ol Cok>n81 Lary Davis and Konstantina was invaluabl& to our SLJccesg. WASP has been OVvj1rQ lor vèterans and the communty since the etKling of Workl War 11, sad those who started this organisation provKling so much to so fflany have passed. We woukj neverthgless like lo acknowledge posthumousty fortheir d8dution= Ronny Webb. Laurant Philpotts,
West Indian Association Of Service Personnel (WASP) Trusiees. Annual Reporl IGty¥frttued) Year ended 31 March 2024 Noel Davis, Sam King, Mr. Elden, Alan Wilmott, Connie hAark. Jimmy Leigh, Betty Evans Jacas, are just a small number of those who have been the backTrx>ne ol WASP. In case we forget they gave us the balon and vision to stabilise WASP by providing tor veterans, noyrf expand lo the wder eommunity, ensuring Ihal 161-167 Clapham Manor StreeL o)ntinues to t a haven for veterans and community alike, to becorne financial independent and lo be al the lable ol decision for cwr veterans and community. Futurè Plans There is no signif¢anl change to the strategic objects in support of our oveTall aiwns. However, we intend to: RgVI8W OUT welfare activities wth Ihe aim ol provtdir#J a proactNe and dedicated service. including the crealion ol a eommunity welfare volunteeT force lo help delNer the are semce Plan and deliver fundraising events to secure the funds n$sary to purchase arKI refU(Sh our HQ and lo generally improve the scope arKI reach ol our seThi Provide apwopriate publicty. PR, marketing and fUtraiSIng eXperte in supwrt of plann1 activrties WASP HQ requires renovation and upgrade lo the roof, the etectrical, the wiThYows. lling, cenlral healing. energy efficient systems aTKI lechnui rnechanism to conduct seminars arKI to view the array Of Inlormalion about the contribution lo workl peace by the people frotn the CaiiLthan. To that etKI we will be establishing a ring-fence Building Fund bank account to carry out these phase works and io put in place the technological social media systems to enab our clieni group and the Mder community to to leam, enjoy arKI PrOvK lo our history wth InfOTmal that they may have.
West Indlan Assoclatlon Of Servlce Personnel IWASP) Trustees. Annual Report (C Year ended 31 March 2024 FlnarJcl?I rgvlew Th8 mernb8rs ol the Board ol Tn88S recognise that this year has cb)nation cdledon of £27.158 during the year. (2023: £27,301). The accounts would reved thal allhough trading VRS rK)t at its best we werè at4e to rem81n soant arKI look forward to a more lucrative years to folkjw. The Trustees also recognlse the contritrArtion of items donated by indivKluals and would like to express our gratitude and aFf>reclation. We 7Kiuld like lo say a speci thank you lo all ihe volunteer that have contributed $0 much, thereby maklng the Ilves of some many more enjoyable. In condusion, although the bt)ard was restri¢laJ Yéith its actIS over the past flnancial year our members and supports stod( steadfast thus enablirKJ us to get bad% Into cyeralton thout any d[fflcul&s. The accounts lor the year show decreasé in funds by £5.692 and lotal unrestrtctsd fund$ ¢arrl forward al 31 st Mah 2024 of £55,107 Durfng the year. The Board of Trustees strive to mwntaln 8 pfLthJent level of reseNe5, adequate lo ensure the contlnu operation of the organlsation. Thls rert has been prepared in accordance vlth the Statement of Recommended Practice: Accountiro and Reporting by Charitles (issued in 20151. WASP has been steathly transfonnlng our h&2d warter lxj1ldi at Clapham IAanN Street. We commissiongd a conditional survey rewrt whl¢h gavo a rewr bill of £345L &nce then. we slartgj to do the works which in lurn are cash drtven. Th& trustees, annual report was approv*J on 2.Q.:.Ji..'J. trustees by.. . and signed on behall of ihe ljoard ol Dr. S Marshall Trustee
West Indian Associalion Of Servlce Personnel (WASP) Independent Examiner's Report to the Truslees of West Indian Association Of Service Personnel (WASP) Year ended 31 March 2024 I report to the Iruslees on my examination of the finanal statemenls of West Indian Association Of SeNce Personrtel (WASPI {Ihe char) for the year eNdj 31 March 2024. Responslbilities and basis ot report The companys trustees are iesp)nsible lor the preparation ol the accounts. The companvs trustees consider that an audit is rK)I requircd for this year under secbon 14412} of Ihe CharTties Act 2011 (the 2011 Act) and thal an independent examination is need1. It is my responsibilty to.. - examine the accounts under secb.on 145 01 the 2011 Act., lo follow the procedu$ laid down in the general Directions gNen by the Charity Comwni5SIO under section 14515llb) ol the 2011 Act,. and - to glale whelher particular matter5 have come to my allention. Basls of examiner's ststement My examination was carried out in aOrdar the geller Direclions given by the Charity )mWniS5ion. An examinab'on indudes a review of Ihe accounting records kept by the ch&ity and a comparison of the accounts presented with those records. ft also inclu(Ics ConSeral10n ol any unusual items or disclosures in the accounts, and seekirtg expLinations trom you as twstees concerning any such matters. The procedures undertaken do not prOe all Ihe evidgnce that would be required in an audit and consequenlty no opinion is givan as lo whether the accounts present a Irue and lair vie and the report is limited to those matters sel out in the staiemenl t*h)w. Independent examlnorfs statement In connection wth my examinalion. no other matter has come to my attention: {11 which gives me reasonable cause to bglieve Ihat in any material respect th8 r8quirements". - lo keep aountIng records in accordance ¥th section 130 of thè 2011 Act., and - to prepare 8CCOLJnts which accord the accouniing records and comply with the acuunting raquirements ol the 2011 Act have not been met: or 121 lo which, in my opinion, attèntion sIU1 be drawn in order to enable a proper urKlerstanding ol ihe accounts to be reached. k(W K3M UK LTD Independent Examiner 1 Concord Business Centre Concord Road London UK W3 OTJ
West Indian Association Of Service Personnel (WASP) Slatemenl of Financial Activities Year ended 31 March 2024 2024 Unrestricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Investment income Other income 27,158 27.158 32.051 10,450 10A50 6.550 38,605 Total income 37.614 37.614 Expendlture Expenditure on charikble activities Total expendllure 70 43A06 43.306 39.489 43.306 39.489 Net expend5ture and net movement in funds {5.692} (5,692) 18841 Reconclllation of tund$ Total funds brought forward Total funds carTled fonvard 60.799 60.799 55.107 61.683 55.107 60.799 The stalgment ol financial activities indude5 all gains awKI h)sses recognisl in Ihe year. All income and expenditure derive from conttnuing aclMtTres. The notes on pagès 10 to 16 lomi port of th•so ffinanctal stalemenls.
West Indian Assoclallon Of Servlce Personnel (WASP) Slatement of Flnanclal Posltion 31 March 2024 2023 Flxed assels Tangible lixed assets 13 4149 Current a89ot8 Debtors Cash at bank and in hand 14 25 2A55 6,561 7.161 Credltors: amounts f8lllng due wlthln one yoar Net current assets 15 1A97 6.161 60,799 60,799 Totsl assets less ¢urnent Ilabllttles 55.107 55.107 Net a83ets Funds of Ihe charlty Unrestricted funds 5&107 5&107 60.799 Totsl chartty funds 17 60.799 These financial statements were approved by Ihe board of trustees aThJ auihoris8d for issue on ,.2S.:11...>.P., and arg signed on behalf of the board by: Dr. S Marshall Trustee
Wesl Indian Associalion Of Servlce Personnel (WASP) Noles to the Financial Statements Year ended 31 March 2024 General infomiation The charity is a public benefft entsty and a registered charity in England and Wales and is unincorporated. The address of Ihe princip offi'ce is 165-167 Clapham Manor Street, London, SW4 6DB. Statement of compliance These financial statements have en prepar1 in compliance with FRS 102, 'The Financial Reporbng Standard applicable in Ihe UK and the Republ ol Ireland,, the Statement ol Recommended Praclice applicable to Chare$ preparing their accounts in a(xordance Nth the Financial Reporting StarKJard applicable in Ihe UK and A&public of Ireland {FRS 1021 (Charities SORP IFRS 102)) and the Chwilies Act 2011. Accounling policies Basis of preparation The lirwicial slatemenls have been prepaTed on th8 historical cost basis. as rn111ed by the revaluation of certain financial assets aThJ liabilities arxl investment properties measured at twr value through income or expermlilure. The financial statements are prepar1 in sterling. whK* is Ihe fUbonal currency of the entity. Golng concem There are no material unoertainlies aLwJul the charitys thrrty to continue. Judgements and key Sourc ol estlmallon uncertalnty There are no material uncertainties about th6 charivs abilty to conlinue. Fund acwintlng Unrestrictgd lurmls are available tor use at the discretion of the trustees to further any ol the charity's purposes. Designated fLJnds are unrestsed funds eamiarked by Ihe Injstees for particular future project or c0mIlMent. Reslricled funds are subjected lo reslrictions on their expendilure declared by the donor or through th8 lemis ol an appeal, and I1 into one ol two sul>classes= reBlrieted Income funds or endowment funds. 10-
West Indian Association Of Service Personnel (WASP) Notes lo Ihe Financial Ststements Year ended 31 March 2024 Accourrting policies (cothin Incomlng resources All incoming resources are included in the slalement of financial activities when entitlement has passed to the charity,. il is prObate that the economic benerrts associated with the transaction will flow lo the chartty and the amount can be reliabty measured. The following specifi¢ wlicies are applied lo particular categorie5 01 income: income from donations or granls is recognised whw there is eviden ol enlitlement to the gitt, reccipl is probable and its amount can be measured reltabw. legacy income is recognised when receipt i8 probable arKI entement is established. income from donated goods is measured at Ihe Iwr vatue ol the goods unless this is impractical to m&asure reliably, in lCh case the ¥ue is derived Irom the cost 10 the donor or th8 estimated resale value. Donated ta[theS and semces are rec(onised in the a¢counts when received il the value can tt reliatAy measured. No amounts are includod for the contribution of general volunteers. In¢om8 from contracts lor the Sup ol serwces is recognised with the delivery ol the contracted seNice. This 15 classrfied as unrestricted funds un]e5S there is a contractual requirement tor il to be st*nt on a partlar purwse and returned il unspent. in which case it may be regarded as restricted. Resources expended Expendtture is recogniswj on an accrua15 basis as a liability is incurred. Expenthlure includes any VAT which cannot be lully recovered. and is classrfied under headirwJs of the statement ol finaneial actnriti8S to Yrtbich tt relates= experKliture on raising futThts includes the costs of ajl furKlra5ing a¢tNiti8s, events. non- charitable trading activtties. arKI the sale ol donated gcths. expenditure on charitable aclivtknes inclLth all costs incurred by a charity in undertaking activitieg that lurther its chaiitable wms lor the knefil ol its beneliciaries, Iluding those support costs and costs rektirTrg to the govemance ol the charity apFyJrtioned to charitable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expendtture on charItab activities. All costs are alocatl to expenditure categories reflecting the use of the resour. Direct costs attribulablo to a sirvJle aclivily are allocated directly to that aclivily. Shared costs are apw>rtioned between the activities they contribute to on a reasonable, justifiable and consistcnl basis. Tanglble assets Tangible assets are inititY recorded al cost, and subsequently staled at cost less any accumulated depreciation and impwrment Ioss8s. Any tangiblè assets carried al r8valugd amounts ar8 recorded at the lair value at the dale of revaluatn less any subsequent aCCuulated depreaation and subsequent accumulated impairment bsses. 11
West Indian Association Of Service Personnel {WASP) Notes to the Financial Stalements (conNniEdl Year ended 31 March 2024 Aetounting pollcles (¢¢wyMnuedJ Tangible assets fconlln An inerease in the carryng amount ol an asset as a result of a revaluation. is recognised in other recognised gains and bsses, unless il reverses a charge lor impaiment that has prewoLJSly been recognised as expenditure within the statement of financial a¢livities. A decrease in the carying amount ol an asset as a result of rcvalualion. is recognised in other iecognised gwns and losses. except to which it oltsels any prewou5 revaluation gain. in which case the loss is shown wthin olher Tecognised glls aThJ losses on the statement ol finan activtties. Deprec5ation Depreciation is cakulated so as to write off the cost or valuation of an asset, less reshlual value. ovei the useful economic lile of that asset as lolk)ws= Fixtures & frttings Motor vehicles 25% reducing balance 25Yo reducing balance Impalmient ot flxed assets A review lor irKlicalors ol impairment is carried out at each repong datè, wth the recoverable amount being estimated where such IndtOrS exist. Where thg carrying value exceeds the recoverable amount, the asset Ss impaire(J a(xx)rdlngty. Priot itnpaiments are also eeWed for possible reversal at each repoTling dale. For the purposes of impaimient testing, when it is not FLIs51b to 8stimale the recoverable amount ol an indivKlual asseL an estimate 15 made of the recoverable amount ol the cash- gengraling unil to which the asset belongs. The Cash4jenerati unil is the smallest Kjentifiable group ol assets Ihal includes the asset aThJ generates cash inflows that largely indopendent ol the cash inflows from other assets or groups ol assets. For impairrnent lesb'ng of goodwrill, the goothll acquired in a business combination is, from Ihe acquisition datè, allocated to each ol the cash%eneTating units that are expected lo benelV( from the synergies of the combination, iffespectNe of whether other assets or liabilities of the charity are assigned lo those unrts. Government grants Govemmenl grants are recognised at the fair vu9 01 Ihe asset received or receNable. Grants are [1 recognised until there is reasonthe assurance that the charity wll compty wth the conditions attaching to them arKI the grants wll be received. Where the grani does not impose sp¢etfied ILJture rfOrmanCe-reIat8d conditions on the recipient. il is recognised in income whgn Ihe grant proceeds are received or receivabl8. Where the grant does imFX)se Specifi lutsjre FErformance-retated conditions on the recipient, it is recognised in income only when the p8rformance-relaled corKJitions have been mel. Where grants recewed are prior to satislying the revenue recognibon uiteria, they are r8cognised as a Flnancial Instrumerrts A financial asset or a financial liabilty is recognised only when the charlty becomes a party lo Ihe conlraclual provisions ol th& inslrumenL 12-
West Indian Association Of Service Personnel (WASP) Notes lo Ihe Financial Statements (contin) Year ended 31 March 2024 Accountlng policles (comin) Financial Instruments l¢onthNred) Basic financial instruments are inthalty iecognised al the amount receivable or payable including any rèlated transaction costs. Current assets a1 currert liabikn'es are Subs]Uenty measured al Ihe cash or othe consideration ex5ed to be pa or Teceived and not discounted. Debt instnJmenls are subsequently measured at amortised cost Where investmerts in shares are pub]lY traded or thelr fall value can otheThviso be measured reliably, the investment is subsequently MeaSUrj at lair value Writh changes in fair value recognised in income and expeTrJiture. All other such inveslments are subsequently measured at cost less impairment. Other finalla instruments. induding deTiva1ives. are initially recognised at lair value. unless payment lor an asset is deferred beyond [rMal bJ5iness lemis or financed al a rale ol interest that is not a market rate, in which case Ihe assei is measured at the present value ol the future paymerrts discounted al a markei rate of interest for a similar debt instrumont. Other financial instruments are subwuently m6asur&J al Ir value. th any changes recognised in the statement of fInanU aa[ve$. with the exception of hedging instrumenls in a designated hedging relatignship. Financial assets that are measured at cosl or am0sed cost arg rov¢ewed for objective evKJence of impairment at the end of each r8POrting date. It there is objeclive evidence ol impairment, an irnpairmenl loss is lenISed under the appropriate heading in the statement of ffnancial acb'wties in which tha initial gain was recognised. For all equity instruments regardsS ol signifKance, and other tinancial assets that are Individually signrfieanl, thesè are essed indiwdually for impairment. Other linancial assets are either assessed indivxlualty or grouped on Ihe basis ol similar credil risk ¢haTaoteristics. Any reversals ol impairment are reC(nised iwnmediatety. to the extent that the reversal does noi result in a carfying amount of the linancid assel that exceeds what the carwng amount would have been had the impairment not previousty been recognised. Donlon5 and legaclgs Unrestrthd Tolal Funds Unrestricted Total Funds FUTh 2024 Funds 2023 Donatlons Donation & h1 hire 27.158 27,158 27,301 27,301 Grants Governrnant grant income 4,75 32,051 4,750 32.051 27.158 27.158 13-
West Indian Associatlon Of Service Personnel IWASP) Notes to the Financial Statements Year ended 31 March 2024 Investment income Unrestricted Tolal Funds Unrestrkted Total Funds Funds 2024 Funds 2023 Bank Interest Re1ved othèr Income UnreslTi*ed Totsl Funds Unrestricted Total Funds FurKLs 2024 Funds 2023 Other income- Rentsl Income 10.450 10.450 6,550 6,550 Expenditure on charitable activilies by lund type Unrestricted Tolal Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable activities Support wsls 37.373 5.933 37,373 5,933 43,306 33,053 33.0&3 43.306 sg,489 39,489 Expenditure on charltable actlvltles by actlvlty type undertaken directly SuEwrt costs Total funds 2024 Total fund 2023 Charitabte activibes Governance costs 37.373 37.373 5,933 43.306 33.053 6,436 5,933 5,933 37,373 39,489 Net expendlture Net expenditure is slated after charg1/(CredI11ng>-. 2024 2023 Deprectation of tangible fixed ats 652 10. Independent examlnatlon lees 2024 2D23 Fees payable to th8 independerrt examiner for: lThlependent examination of the flnanud statemerrts Oiher financial services 550 550 soo 500 1,100 1.000 -14-
West Indian Assoclatlon Of Service Personnel (WASP) Notes to the Financial Statements (tX*llniKd) Year ended 31 March 2024 11. Slaff costs The average head counl ol empknyees during the year was Nil {2020: Nill. No employee received employee benerrts of more than £60.000 during the year {2020: Nill. 12. Trustee remuneratlon and expenses No salaries or wages have been paid lo employees. including the mernbers ol the Comtnittee, during the yeat. The Trustees receNed no remLsneralion or expenses lor acting as trusteos. During the year the total of expense reimbursed to the truStS, inctjrred in the course of acting as members ol Ihe chartty. amoitnl&l to £Nil. 13. Tanglble flxed assets La1 and Fixtijres and buihjings fittings MotDr vehides Totsl Cost At 1 April 2023 and 31 March 2024 Depreclatlon Al 1 April 2023 Charge for th8 year At 31 March 2024 52,682 63,243 32.454 148,379 61.326 479 32,415 10 93,741 61,805 32,425 94.230 Carrying arnount At 31 Mah 2024 52,682 52,682 1.438 29 54,149 54,638 At 31 March 2023 1.917 39 14. Debtors 2024 2023 Other debtors 600 1 S. Creditors: amounls falllng due wlthln one year 2024 2023 Accruals and d8lerred incomo Other creditors 1,100 297 1,000 1,397 1,OOD 16. Govemmenl grants The amourrts recognised in the fInala1 statemonts for government grants are as folk)ws.' 2024 2023 ReCnIsed in income from donations arKI18gacies: Govemmenl grants income 4,750 15-
West Indlan Association Of Service Personnel (WASP) Notes to the Financial Statements (co¥nue} Year ended 31 March 2024 17. Analy8ls of charttable funds Unrestricted lunds 31 March 202 1 April 2¢Y23 Income ExF[MIlIUre Unreslricled FurKI 37,614 143,3061 55,107 At 31 March 202 Ai l Apn'l 2022 Income Exp8ndtture Unrestricted Fund 61.683 38.605 (39.489) 60,799 18. Analysis of assets between fvnds un[estrled Total Funds FLJrTrds 2024 Tangib fixed assets Currenl assets Greditors less than 1 year Net assets 54.149 2.355 {1,39n 55,107 54.149 2.355 (1,397) 55,107 unraStrBd Total Funds Fun(Ls 2023 Tangible fixed assels Current asseis Creditors less than 1 year Net assets 54,638 7,161 {1,0001 60,799 7,161 11,0001 60,799 16-