##
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Patron|||Her Majesty the|Queen|||(Until 8 September 2022)||||||
|Honorary|Vice Presidents||Air Vice Marshal|R Paterson||||CB, OBE,ADC, DL|||||
|Vice Presidents|||Lt Col A Middlemiss||DL||(retired April 2022)||||||
||||Lt Col H. Cowan|(retired|||April 2022)||||||
||||Lt Gen SirAlistair|Irwin||KCB||CBE(retired||April|2022)||
||||Mr I C Stewart Hunter||||||||||
||||Mr D Keith Rabertson||||||||||
||||Mr M Noble (appointed||||December||2022)||||
|Chairman|||Ms S Wilson (appointed||||December||2022|and|re'linquished|rale|
||||September 2023)||||||||||
||||Mrs C Sutherland|Hawes (appointed
co-Chair|||||||September 2023)||
||||Mr G Gray (appointed|||co-Chair September 2023)|||||||
|Deputy Chairmen|||Mr CCook (relinquished||||role September|||2022)|||
||||Ms ICampbell-Lu|pton||(appointed|||December||2022)||
|Committee|Of Directors And Sole Trustees||Mr M Noble||||||(Resigned||December 2022)||
||||Mr G Gray||||||||||
||||Mr N McLennan||||||||||
||||Ms S Wilson||||||||||
||||Mr CCook||||||||||
||||Ms ICampbell
Lupton||||||||||
||||Ms C Grant||||||||||
||||Mrs C Sutherland-Hewes||||||||||
||||Mrs LHadley-Stove||||||(Resigned||December 2022)||
||||Mr C Middleton||||||(Resigned||March 2023)||
||||Mr M Young||||||||||
||||Ms K Lindsay||||||||||
|Chief Executive|||Mrs Laura Falconer||||||||||
|Charity number||(England and Wales)|310992||||||||||
|Charity number||(Scotland)|SC038722||||||||||
|Principal address|||The Melting
Pot||||||||||
||||1SCelton Road||||||||||
||||Edinburgh||||||||||
||||Scotland||||||||||
||||EHB BDL||||||||||
|Auditor|||Myers Clark||||||||||
||||Egale 1||||||||||
||||80StAlbans Road||||||||||
||||Watford||||||||||
||||Hertfordshire||||||||||
||||WD17 1DL||||||||||
##
##
|||||Page|
|---|---|---|---|---|
|Committee OfDirectors And Sole Trustees'|||repart|1-9|
|Statement af|committee
of directors and sole trustees'|||10|
|responsibilities|||||
|independent|auditar's|report||11 —14|
|Statement of|financial|actiufties||15 —16|
|Balance sheet||||17|
|Notes to the|financial|statements||18-34|
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||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|2023|2022|
|||Notes|6|||6|6|
|I cornea de|owmentsfro|||||||
|Donations
and
&vestments|legacies|2
3|23,087
255|258,658|122,532|281,745
122,787|288,805
126,506|
|Other income||4|450,000|2,213|(450,000)|2,213|73,940|
|Total income|||473,342|260,871|(327,468)|406,745|489,251|
|Raising funds||.5|119,512|23,237||142,749|122,692|
|Chadtable
activiges||6|411„468|278,408||689,876|573,326|
|Total resources expended|||530,980|301,645||832,625|696,018|
|Net gain/(loss)|on investments|12|5,414||(274,455)|(269,041)|341,553|
|Net movement|in funds||(52,224)|(40,774)|(601,923)|(694,921)|134,786|
|Fund balances|at 1April 2022||5,651|191,030|4,387,440|4,584,121|4449,335|
|Fund balances|at 31March 2023||(46,573)|150,256|3,785,517|3,889,200|4,584,121|
##
|||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|2022|
|I
o
e|owments fr|||||
|Donations
and|legacies|56,160|232.645||288,805|
|Investments||116||126,390|126,506|
|Other income||235,917|21,023|(183,000)|73,940|
|Total income||292,193|253,668|(56,610)|489,251|
|Exp~turir
oru||||||
|Raising funds||122,692|||122,692|
|Charitable
activities||363,351|2D9,975||573,326|
|Total resources expanded||486,043|209,975||696,018|
|Net gain/(loss)|on investments|(68)||341,621|341,553|
|Transfer between
funds||313,236||(333,236)||
|Net movement|in funds|119,318|43,693|(28,225)|134,786|
|Fund balances|at1April 2021|(113,667)|147,337|4,415,665|4,449,335|
|Fund balances|at 91sr(arch 2022|5,651|191,030|4,387,44D|4,584,121|
##
##
||||||2023||2022||
|---|---|---|---|---|---|---|---|---|
||||||6||f||
|Fbred assets|||||||||
|Investments||||||3,872,005||4,614,126|
|Current assets|||||||||
|Debtors|||||9,734||8,115||
|Cash at bank and in||hand|||93,263||79,398||
||||||102,997||87,513||
|Creditors: amounts||falling due wfthin||16|||||
|one year|||||(85,802)||(117,518)||
|Net current|assets/(liabg||ines)|||17,195||(30,005)|
|Total assets|less current||liabiTities|||3,889,200||4,584,121|
|Capital funds|||||||||
|Endowment|funds||||||||
|Endowment|funds -|general||||3,785,517||4,387,440|
|income funds|||||||||
|Restricted funds||||||150,256||191,030|
|Unrestricted|funds|||||(46,573)||5,651|
|||||||3,889,200||4,584,121|
##
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##
##
##
|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|2023|2022|
|Donations|and gifts|23,087|258,658|281,745|288,805|
|Forthe year ended 31March 2022||56,160|232,645||288,805|
||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total|
|---|---|---|---|---|---|---|
||funds|funds||funds|funds||
||2023|2023|2023|2022|2022|2022|
||E||E|f|f.|E|
|Income fram listed|||||||
|investments||122,532|122,532||126,390|126,390|
|Interest receivable|255|-|255|116|—|116|
||255|122,532|122,787|116|126,390|126,506|
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##
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||||||Unrestricted|}testricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|2023|2I}22|
||||||6|6|||
|Costs ofgenerating||voluntary||income|||||
|Direct costs|||||69,852||69,852|69,049|
|Support 8Igovernance|||costs||26,582|23,237|49,819|28,129|
|Costs ofgenerating||voluntary||income|96,434|23,237|119,671|97,178|
|investment|management||fees||23,078||23,I}78|25,514|
||||||119,512|23,237|142,749|122,692|
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##
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##
##
||||||||ZOZ3|2022|
|---|---|---|---|---|---|---|---|---|
||||||||f|f.|
||Grants to|individuals|||||91,993|80,019|
||||||||91,993|80,019|
|B|Support|Btgovernance||costs|||||
|||||||2023||2021f|
||SUPPORT|COSTS|||||||
||Staff costs|||||130,715||105,366|
||Recruitment
and staff development|||||4,836||6,171|
||Premises|expenses||||8,240||24,483|
||PR, mariretfng
and Annual|||Review||1,640||13,835|
||Printing, stationery,||postage and phone|||1,518||2,189|
||Trave
Iling|||||3,710||1,413|
||Other|||||8,546||4,437|
||Accountancy|||||3,888||4,626|
||Computer|Br office|equipment||costs|6,402||5,523|
||GOVERNANCE
COSTS|||||9,185||17,848|
|||||||178,680||185,891|
||Analysed|between|||||||
||Fundraising|||||49,819||28,129|
||Charitable|activities||||128,861||157,762|
|||||||178,680||185,891|
##
##
##
|The average
monthly
nu
year was:|mber|af|employ|ees
(he|ad|cou|nt b|ased on|number
of staff employed)
du|ring
the|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2023|2022|
||||||||||Number|Number|
|Raising funds|||||||||||
|Charitable
activites|||||||||||
|Support and Governance|||||||||||
||||||||||13||
|Employment
costs|||||||||2023|2022|
||||||||||f|f|
|Wages and salaries|||||||||372,273|324,216|
|Sodal security casts|||||||||33,342|26,376|
|Other pension casts|||||||||13,652|12,838|
||||||||||419,267|363,430|
|There was one employee|(2022-||1)whose|annual|emoluments|||were f60,000or more. one full time|||
|employee
was on secondment||in|2022 in furtherance|||of|the education||programme.||
|The number of employees|whose||annual|remuneration|||was|f60000|or more||
|were:|||||||||||
||||||||||2023|2022|
||||||||||Number|Number|
|f60,001tof70,000||||||||||1|
|f70,001ta f80,000|||||||||||
##
##
##
|||Vnrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|2023|2022|
|||f|general
8|||
|Revaluation|of investments|5,414|(274,45S)|(269,041)|341,553|
|Forthe year|ended 31March 2022|(68)|341,621||341,553|
##
##
|||||||
|---|---|---|---|---|---|
|13|Tangible grsed assets|||||
||||Fixtures ssd|Computers||
||||nninsr|||
||||f|||
||Cost|||||
||At1April 2022||869|2,976|3,845|
||At 31March 2023||869|2,976|3,845|
||(7epreciation
and impairment|||||
||At 1April 2022|||2,976|3,845|
||At 31March 2023||869|2,976|3,845|
||Canying amount|||||
||At 31March 2023|||||
||At 31March 2022,|||||
|14|Fixed asset investments|||||
|||||2023
f|2022f|
||Cost or valuation|||||
||At 31March 2022|||4,614,126|4,414,791|
||Withdrawn
Valuation
changes|||(473,080)
(269,041)|(142,218)
341,553|
||At31lviarch 2023|||3,872,005|4,614,126|
||Inlpairment|||||
||At31March 2022|||||
||At 31March 2023|||||
||Canying amount|||||
||At 31March 2023|||3,872,005|4,614,126|
||At 31March 2022|||4,614,126|4,414,791|
|||||2023|2022|
||investments
at fair value comprise:|||||
||Investment
assets held|in the VK||2,542,474|3,295,884|
||Investment
assets held outside the UK|||1,329,531|1,318,242|
|||||3,872,005|4,614,126|
##
|14|Fixed asset investments|||||(Continued)|
|---|---|---|---|---|---|---|
||||||2023|2022|
||Investments
representing
aver 5%by value of portfolio comprise:||||6||
||JPMargan
Fund iCVC JPM US Equity Income C Net Ois||||224,974|235,654|
||FPWHES Asset Management
Funds Sustalnabifity|Fund 8Acc (less than 596|||||
||this year)|||||290,457|
||Aberdeen
Asian income Fund Shares||||235,898|253,786|
||Natixis investment
Funds
UKICVC Laamis Sayles US Eqty Leaders)A||||USO Acc||
||(less than 5% in 2022)||||194,766||
||||||655,638|779,897|
||Fixed asset investments
revalued||||||
||Fixed asset investment
are valued at market value at the year end.
The historical cost ofthe fixed asset investments
is 62,958,588(2022:E3,179,602).||||||
||Fixed asset investments
include cash held awaiting||investment|of|f270,831(2022-f150,150).||
|15|tsebtors||||||
||||||2023|2022|
||Amounts
falling due within one year.||||6||
||Prepayments
and accrued income||||9,734|8,115|
|16|Creditors: amounts
falling due within one year||||||
||||||2023|2022|
||||||6|6|
||Other taxation and social security||||(381)|10,234|
||Accruals and deferred income||||86,183|107,284|
||||||85,802|117,518|
##
##
|||||Movement|Movement|in funcls|||
|---|---|---|---|---|---|---|---|---|
|||Balance at1|incoming|Resources||Revaluations|Release from|Balance at31|
|||April 2022|resources|expended||gains and|unapplied|March 2023|
|||||||losses|totalretum||
||||||||fund /||
||||||||Transfers||
||||||E|E|E|f.|
|Permanent|endowments||||||||
|Sale ofthe|school|4,387,44D|122,532|||(274455)|(450,DDD)|3,785,517|
|||4,387,440|122,532|||(274455)|(450,DDD)|3,785,517|
|||Balance at1|incoming|Movement
in funds prior per'iod
Resources
Revaluations|||Release from|Balance at31|
|||April 2021|resources|expended||gains and|unapplied|March 2022|
|||||||losses|total return||
||||||||fund /||
||||||||Transfers||
|Permanent|endowments||||||||
|Sale ofthe|school|4,124.922|126,390|||319,128|(183,00D)|4,387,440|
|Expendable|endowments||||||||
|Legacy||290,743||||22,493|(313,236)||
|||4,415,665|126,390|||341,621|(496,236)|4,387,440|
##
|||||Movement
in|Movement
in|funds current|year|
|---|---|---|---|---|---|---|---|
|||||Balance at1|incoming|Resources|Balance at 31|
|||||April 2022|resources|expended|March 2023|
|||||6|6|6|6|
|ABFThe Soldiers Charity||||24,973|26,000|(40,604)|10,369|
|Queen Victoria Sch QVS||—Lighthouse|||1,000|(1,000)||
|Scottish Children's|Lottery|||2,171|||2,171|
|Paul Hamlyn||||6,448|30,000|(36,448)||
|Board Game||||(967)|||[967)|
|The Veterans Foundation||Grant|||20,000|(20,000)||
|The D Oyle Carte|||||3,500|(3,500)||
|Veterans Scotland|||||62,416|(36,419)|25,997|
|Ground
Work||||1,000|1,000|(2,000)||
|Brit+ FGN||||5,977|16,037|(9,335)|12,679|
|Armed Forces covenant||Fund Trust Funding|—YM)vi|109,381|72,720|907,094)|75,007|
|Armed
Forces Covenant||||42,047|28,198|(45,245)|25,000|
|||||191,G30|260,871|(301,645)|150,256|
##
##
##
||||||Movement
in|Movement
in|funds prior period|funds prior period|
|---|---|---|---|---|---|---|---|---|
||||||Balance et1|Incoming|Resources|Balance et31|
||||||August2021|resources|expended|Marcf( 2022|
||||||E|E|E|E|
|ABF The Soldiers Charity|||||24,973|||24,973|
|Cash For Kids|||||1,820||(1,820)||
|Scottish Children's||l.ottery|||2,171|||2,171|
|Persimmon
Homes||||||1,000|(1,000)||
|Awards
For A!I|||||5(736||(5,736)||
|Paul Hamlyn|||||30,000||(23,552)|6(448|
|Board Game|||||18,696||(19,663)|(967)|
|The Veterans|Foundat)on||Grant||7,50D||(7,5DD)||
|Veterans Scotland|||||5,960|14,798|(20,758)||
|Ciene BrTait (Tillyloss)|||||1,002||(L002)||
|Ground
Work|||||1,000|||1,000|
|Brit+ FGN|||||6,624|15,000|(15,647)|5,977|
|The National|Lotte(y Community|||Fund - Young Start||20,400|(20,4DD)||
|Armed
Forces|Covenant||Fund Trust Funding - YMM||41,855|160,423|(92,897)|109,381|
|Armed
Forces|Covenant|||||42,047||42,047|
||||||147(337|253,668|(209,975)|191,030|
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##
|FO|R THE Y&lRBUON 31AfARCH|R THE Y&lRBUON 31AfARCH|R THE Y&lRBUON 31AfARCH|R THE Y&lRBUON 31AfARCH|2D23|||||
|---|---|---|---|---|---|---|---|---|---|
|20|Analysis ofnet assets between funds|||||||||
|||||||Unrestricted|Restricted|Endowment|Total|
|||||||funds|funds|funds||
|||||||f|f|||
||Fund balances at||31March 2023 are|||||||
||represented|by;||||||||
||Investments|||||86/88||3,785,517|3,872,005|
||Current assets/(liabilities)|||||(133,D61)|150,256|-|17,195|
|||||||(46,573)|150,256|3,785,517|3,889,200|
|||||||Unrestricted|Resbtcted|Endowment|Total|
|||||||funds|funds|funds||
||||||||f|f|f|
||Fund balances
at.||31March 2022 are|||||||
||represented|by;||||||||
||investments|||||226,686||4,387,440|4,614,126|
||Current assets/(liabilities)|||||(221,035)|191,030|—|(30,005)|
|||||||5,651|191,030|4,387,440|4,584,121|
|21|Permanent|Endowment||||||||
||||||||Endowment|Unapplied|Total|
||||||||Fund|Total Return|Endowment|
||||||||||Fund|
||||||||f|f||
||At 1April2022|||||||||
||Sale ofschool||||||2,600,000||2,6D0,000|
||Unapplied|total return||||||1,787,440|1,787,440|
||Total||||||2,600,000|1,787,440|4,387,440|
||Movements
to 31March 2023|||||||||
||investment|return|- dividends|||||122,532|122,532|
||!nvestrnent|return|—malised|Bsunrealised|gains|||(274,455)|274,455|
|||||||||(151,923)|151,923|
||Unapplied|total return allocated to income in the||||year||(450,000)|(450,000)|
||Net movements||in the year|||||(601,923)|601,923|
||At 31March 2023|||||||||
||Sale ofschool||||||2,600,000||2,600,000|
||Unapplied|total return||||||1,185,517|1,185,517|
||||||||2,600,000|1,185,517|3,785,S17|
##
##
##
||||2023|2022|
|---|---|---|---|---|
||||6|6|
|Within|one|year||10,402|
##
|||2023
6|2022f|
|---|---|---|---|
|Aggregate|compensation|73,557|69,676|
##