Charity Registration No. 310952 (England and Wales)
Charity Registration No. SC038722 (Scotland)
FORCES
CHILDREN
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
LEGAL AND ADMINISTRATIVE INFORMATION
Patron
His Majesty King Charles lll
Honorary Vice Presidents
Air Vice Marshal R Paterson CB, OBE, ADC, DL
Vice Presidents
Mr I C Stewart Hunter
Mr D Keith Robertson
Chair
Ms S Wilson (relinquished role September 2023)
Mrs C Sutherland Hawes (appointed co-chair September 2023 and
resigned March 20241
Mr G Gray {appointed co-chair September 2023 and resigned
March 20241
Mr M Young (appointed co-chair March 20241
Mr H Tilley {appointed co-chair March 2024)
Deputy Chairnian
Ms I Campbell-Lupton
Committee Of Directors And Sole Trustees
Mr G Gray
Mr N McLennan
Ms S Wilson
Mr C Cook
Ms I Campbell Lupton
M5 C Grant
Mrs C Sutherland-Hawes
Mr M Young
Ms K Lindsay
Ms J Bryce
Ms F Jackson
Ms F Barbour-smith
Ms S Dickie
MrGRae
Mr H Tilley
(Resigned July 20241
{Resigned September 20241
{Resigned July 20241
(Resigned March 2024)
(Resigned March 20241
(Resigned March 2024)
(Appointed June 2024)
(Appointed June 2024)
(Appointed December 20241
(Appointed September 20241
(Appointed September 20241
{Appointed March 2024)
Chief Executive
Mrs Laura Falconer
Ms Meg Thomas
(Resigned July 2024)
(Appointed July 2024)
Charity number (England and Wales)
310952
Charity number (Scotland)
SC038722
Principal address
The Melting Pot
15 Calton Road
Edinburgh
Scotland
EH8 8DL
Auditor
Myers Clark
Egale I
80 St Albans Road
Watford
Hertfordshire
WD17 IDL

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
LEGAL AND ADMINISTRATIVE INFORMATION
Bankers
Royal Bank of Scotland
1421144 Princes Street
Edinburgh
EH2 4EQ
Investment advisors
Adam & Company
25 St Andrews Square
Edinburgh
EH2 1AF

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
CONTENTS
Page
Committee Of Directors And Sole Tru5tees' report
Statement of committee of directors and sole trustees,
responsibilities
io
Independent auditor's report
11-14
Statement of financial activities
15-16
Balance Sheet
17
Notes to the financial statements
18-33

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
COMMrrrEE OF DIRECTORS AND SOLE TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The committee of directors and sole trustees present their report and accounts for the year ended 31 March
2024.
The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts
and comply with the requirements of the trust's governing document, the Charities and Trustee Investment
Iscotlandl Act 2005, the Charities Account5 (Scotland) Regulations 2006 las amended), the Charities Act 2011 and
"Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 1021" las amended for accounting periods cornmencing from l January 20191.
Ob'ectives and Act.
es
The Royal Caledonian Education Trust IRCED is a charity established by a Charter of Incorporation created by an
Act of Parliamen¢ which received the Royal Assent from King George llt on 14th June 1815.
Our aim today is to support and encourage the education, training and wellbeing of a) the offspring of Scottish
members of Her Majesty's forces and bl the Scottish offspring of members of Her Majesty's Forces. For these
purposes, a person shall be considered Scottish if our Trustees, in their absolute discretion, determine that they
have a sufficient connection to Scotland, or who demonstrate to the Trustees, satisfaction links with Scotland,
including those who may be considered Scottish regardless of their place of residence.
The Board of Trustees had, on 3rd March 2021, agreed to commission a re-branding exercise, involving the
appointment of a creative agency to co-produce a new brand identity. The process involved extensive
consultation with Trust stsff, Armed Forces children and young people, and stakeholders.
On 23rd June 2021, the Board of Trustees adopted re-branding proposals covering vision, mission, strategic aims,
visual identity, and a change of our Operational Name to 'Forces Children Scotland..
Our vision is to make Scotland a place where all Armed Force5 children and young people can thrive.
Our mission is to be the sector leading children and young people's Armed Forces charity in Scotland, by
providing empowering opportunities and amplifying their voices to inspire change.
Our values..
We are passionate, as children from Armed Forces families are too often overlooked.
We are trusted, not only because we have over I￿0 centuries of experience but because we continue to
evolve our approach, based on children and young people's unique experiences and evidence-based
research.
We are collaborative, whether that be with partners, staff or our children and young people, because
only by working together will we deliver meaningful change.
We are honest, promising to Armed Forces children, young people and their families that we will always
act with integrity when supporting them.
Our strategic aims-
To support and empower children and young people from Armed Forces families to reach their potential
and thrive.
We achieve this by working collaboratively across sectors to drive improvements which reflect and
support the unique challenges they face.
We amplify their voices, ensuring they are heard and influence the development of policy and practice.
We realise our objectives as follows-
We deliver services that support children and young people including, for example, supporting mental
health and wellbeing.
We give financial support.
We provide advice and support to those agencies responsible for the education and wellbeing of Armed
Forces Children and young people through a programme of training, resources, research and access to
our advisory service.
We create opportunities for children and young people to get involved, participate and be heard.
We build partnerships to help influence big change.

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
COMMIThEE OF DIRECTORS AND SOLE TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Public Benefit
The Board of Trustees have referred to the guidance contained in the Charity Commission's general guidance on
public benefit when planning, implementing and reviewing all current and future activities. They follow the
updated governing principles adopted on 5th December 2018. This defines our charitable purpose and how it
benefits Armed Forces children and young people.
Achievements and Performance
Our report details significant developments over the year 2022/23. The operational name, FORCES CHILDREN
SCOTLAND, sets out what we do and where we are located.. supporting children from military families from a
base in Scotland. We are also working on changes on how we present the charity and its seNices.
in
Summary
The financial assistance programme experienced significant staff shortage this year with the relevant key staff
member leaving their p05t in early August 2023. As there were no staff available within the team with the
requisite skill sets and capacity to manage the grants system our financial asSlStance programme was paused
from, the end of August. Recruitment challenges meant the post was not filled until mid-january 2024. The new
Finance Manager will resume the financial assistance programme in the corning year.
Key activities & progre55
During the 5 months the financial assistance programme was running, the high level of demand seen in previous
years continued. The work was de5ivered within budget due to the pause in processing new assistance
applications and redesigning the grants criteria (grants of £73,454 were paid out versus a budget of £126,000).
The Christmas Crisis Intervention Fund was not offered this year as it wa5 impacted by the pause in the
programme.
hildren and Famil Services
Summary
In the past year, the Children and Family SeNices team ha5 provided two mental health and wellbeing seNices
Your Mind Matters (YMMI in Helensburgh and The Lighthouse at Queen Victoria School (QVS). Unfortunately, a
third service, Mindful Connections, was discontinued due to a lack of referrals.
The departure of the Children and Family SeNices Manager partway through the year has impacted staff support,
with the CEO now providing supervision and support for Mental Health and Wellbeing.
The Lighthouse has successfully met its funding targets for the year, but the Wellbeing Worker wi51 be leaving the
post in February. Discussions have taken place with the funder regarding how to achieve funding objectives,
secure further funding, and address the resulting vacancy. A funding application has been submitted for a full
year of funding from September 2024 to August 2025.
Your Mind Matters did not Meet all the expected funding targets. While excellent progress was made with l-l
support, the young people required a longer duration than the anticipated 6-week block of input, which
impacted the numbers served. However, a relatively positive end of funding report has been submitted to the
funder due to a significant increase in the number of individuals accessi ng the Your Mind Matters online Hub.
Key activitie5 & progress - The Lighthouse
Achievement against objectives in relation to the Lighthouse during the year were as follows:
Deliver l-l support for pupils within QVS
During the financial year, 14 pupils received one to one support with 91% of the young people showing
improved CORE-YP scores. With the resignation of the staff member, no further support will be possible
in this reporting period. To enhance support continuity 'reconnector meetings, were introduced to follow
up with young people after the one-to-one sessions. These meeting worked incredibly well and are now
a built-in feature of the one-to-one-support service as of date.

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
COMMrrrEE OF DIRECTORS AND SOLE TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Children and Famil SeNi
continued
Young people seen by drop-in appointment model
22 young people seen on a drop-in basis, exceeding the requirements of the finding agreement. lOO%
said the session helped and 20 of the 21 young people showed an improvement in mood following the
session.
Young people seen by peer support groups
Two groups were run with a total of 22 pupils in attendance, exceeding the funding requirement of 12
young people. All but one ofthe young people wanted to keep meeting.
Deliver parent workshop
The content for this workshop has been planned but not yet delivered.
Ensure that the Lighthouse model provides outreach to another location
Two schools were identified via QVS, unfortunately communications were slow and the planned outreach
events have not yet been possible. Staff training initiatives have also been planned with regards to self-
harm. Unfortunately, this ha5 not been delivered but is ready to go dependent on key QVS dates and
commitments.
Key activities and progress - Your Mind Matters
The Your Mind Matters Project has provided face-to-face and digital support 5eNices to help children and young
people improve their understanding and develop effective strategies for mental health and wellbeing, although
not as many as expected.
At Hermitage Academy in Helensburgh, the project delivered one-to-one and drop-in group support, with over
92% of pupi15 who completed a minimum block of six weeks of one-to-one support, have seen an improvement
in their YP Core-10 (Clinical Outcomes Routine Evaluation) scores. Sessions have been successfully planned with
young people and adapted to suit those presenting with Attention Deficit Hyperactivity Disorder (ADHD) and
Autistic Spectrum Disorder IASD), and a weekly lunchtime drop-in club was established, attracting an average of
twenty pupils each week.
The Your Mind Matters Digital Hub, launched in September 2022, has been accessed by 1230 unique users,
resulting in 1781 webpage views and 416 conversions. It includes interactive features, podcasts, and
downloadable resources, co-produced with young people from armed forces communities in Scotland.
The Wellbeing Worker noted that many pupils required support beyond the intended six-week block, impacting
the capacity to take on further pupils. The most common challenges reported were anxiety, low mood, and anger.
Children and Youn
Peo
e Partici
ation
Summary
This year, we engaged with children and young people in primary and secondary school settings. In October, we
began working in early years as a pilot in a nursery, where we developed play-based participation Sessions. In
total, we have delivered 171 different sessions with children and young people, either online or in person,
including I residential and an overnight trip to Birmingham for the SCIP Conference, where young people co-
delivered a workshop and participated in the young person's panel. Additionally, group members met with
parliamentarians, the Scottish Veterans Commissioner, and 100 young people regarding our response to the
Human Rights Consultation.
We also explored different and creative ways to support young people in sharing their experiences, such as using
Zines and interactive audio recordings, which were well received. Additionally, we became an associate member
of the Scottish Youth Parliament, providing forum members with increased opportunities to influence their work
and learn new skills.

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
COMMrrrEE OF DIRECTORS AND SOLE TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Children and Youn
e Partici
ation
continue
We recruited two new participation workers, and they have proven to be excellent assets to the team. At the
beginning of the year, they spent time connecting with key schools, re-establishing our presence, and
encouraging new children and young people to join our groups. Over the course of the year, 279 children and
young people have worked with us for the first time.
Key activities and progress
This year, we welcomed 316 new children and young people to our programs. We maintained an active core
group of 20 engaged young people who have been involved in various projects, including mini-documentary
making, the development of the Influencing Strategy, and participation in events such as the Parliament Event
and the SCIP conference.
We continued to connect with partners in the Military Liaison Group in Highland, Community Development
Teams from the MOD, Carers Trust scotland, Community Covenant groups, and Family Federations, where
capacity allowed.
In Moray and Edinburgh, we have been working with young people to create mini documentaries aimed at
providing information for children and young people moving to their area. We also stsrted the development of a
co-produced deployment pack, with 14 discovery phase sessions delivered and planning Unde￿aY for the design
stsge of the project.
In early years, we began exploring the experiences of nursery-aged children through play and story-based
sessions, adding to our knowledge of their experiences. Our early years work will continue once we have
5ucce55fully re-recruited into the Participation West post following a resignation at the beginning of 2024.
We also supported the wider Forces Children Scotland tearn to ensure the voices of children and young people
from serving and veteran families are heard across all of our work, including facilitating and supporting children
and young people to take part in the Month of the Military Child awareness campaign.
Learnin
and Devel
ment
Summary
In the past year, Learning and Development created seven modules for face-to-face sessions or webinars. Four of
these are CPD UK accredited, meeting professior)al development standards. Another module is currently under
review for accreditation this quarter. Development time limited the number of training and learning events that
could be delivered.
In addition to the CPD modules, the Learning and Development worker developed a pack for stakeholders and
schools for the Month of the Military Child. They also contributed to Together Scotland's Professional Panel to
develop a framework for implementing children's rights in Scotland and were part of the UNCRC Awareness
Raising Communications Network.
The Month of the Military Child celebration pack was updated this year, featuring the launch of a Mascot
competition, which will be integrated into our early year's development work. The Learning and Development
Worker also provided support to the Advisory Group and the Advisory SeNice.
In the last quarter, work began on a new Early Years module. Support was provided to YMM and Ruby Boots for
classroom activities and assemblie5. The Learning and Development worker has begun collaborating with the
Participation team on the Deployment Pack and has several training and learning event5 scheduled for April and
May, with a webinar planned for delivery in May as a proactive learning offer, to be widely promoted through our
social media channels.

THE ROYAL CALEDONIAN EDUCATXON TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
COMMirrEE OF DIRECTORS AND SOLE TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Poli
and Parliamenta
Summary
Despite staff changes, induction, and vacant P05ts, the influencing team continued to make a positive irnpact on
policy, practice, and legislation. In 2023, we launched our Influencing Strategy "A Force for Meaningful Change,"
which included a successful parliamentary event and associated Social media activities. The impact of this event
was immediately apparent, with FCS being mentioned by 4 MSPS and 4 more highlighting the needs of forces
families during a debate on Veterans and the Armed Forces Community the following day.
We submitted five responses to Government consultations and inquiries, including the recent Human Rights Bill
consultation, which was informed by our influencing strategy and involved several sessions with young people to
ensure their voices were central to our re5pon5e. We also prepared internal ar)d external policy briefings.
During the Month of the Military Child, we used the opportunity to build connections with MSPS through
targeted emails and a letter to the First Minister, resulting in ongoing relationships with key MSPS that we plan to
continue to develop to ensure cross-party SUPPOrt and influence.
In the last quarter, we successfully restarted the Advisory Group with a session on Children's Rights, wrote blogs
to coincide with external events like the Young Carer5 Action Day, attended partner event5, presented at a naval
impact workshop, and have been working on our Children's Rights report, including planning for a rights
residential.
Key artivities and progress
Influencing Strategy Development and Launch..
The influencing strategy was co-produced with young people and successfully launched, raising FCS'S
profile with parliamentarians, key partners, and the wider third sector. Next steps involve working with
young people to develop clear indicators of success and overall outcomes, which has been delayed to
prioritize the rights report.
Stakeholder Map Development..
The influencing team has begun assembling a stakeholder map to inform the policy engagement plan
and enhance the impact of policy and influencing work.
The focus has been on establishing and Maintaining stakeholder relationships and partnerships,
including work on the rights aspect of the Influencing Strategy.
Advisory Group Review and Relaynch..
The role and function of the Advisory Group were reviewed, and new terms of reference proposed. The
group will resume in March, focusing on the theme of children's rights and advancing the influencing
strategy based on the 5 calls to action.
Future transactions:
Responsibility for this project has been transferred to the Policy and Parliamentary Officer, who is making
progress in developing key contacts with external partners and planning sessions with veterans and
young people.
Month of the Military Child..
Community and school events have been planned to celebrate the Month of the Military Child, alongside
blogs about key policy areas. MSPS and councilors have confirmed attendance, providing an opportunity
to showcase our work to decision makers.

THE ROYAL CALEDONIAN EDUCATJON TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
COMMrrrEE OF DIRECTORS AND SOLE TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Fundraisin
Summary
During challenging times for third-sector organizations, the team has successfully secured £168,600 in restricted
funding and sustained regular giving income. Although core funding bids have been disappointing, the team is
actively seeking additional funding sources and running campaigns to engage fundraising participants, donor5,
regular givers, and corporate supporters. There is also a focus on involving young people in future fundraising
efforts. The table below summarises the restricted funding secured in the year.
Programme
Funding Received
Ruby Boots
FY 24/25
rmed Forces Covenant
37,500.00
Deployment Pack
FY 24/25
rmed Forces Covenant
10,436.25
our Minds Matter
MacRoberts Trust
FY 24125
£24,285.00
FY 25126
£25,715.00
Lighthouse Project
eterans Foundation
FY 24125
£5,833.00
Future Transaction
cottish Veteran5 Fund
FY 24/25
32,424.00
FY 25/26
£32,424.00
Key activities and progress
Since January, the team has submitted ￿e1ve applications totaling £450,470 to trusts and foundations, primarily
targeting wider core funding income. Currently, we are awaiting responses for these bids and exploring further
opportunities with organizations such as The Veterans Foundation, the Army Benevolent Fund, the Garfield
Weston Foundation, and the Bank of Scotland Empower Programme.
In addition, discussions with Greenwich Hospital have led to the submission of a summary document for their
review, and we are in the process of submitting a £170,500 bid to the National Lottery Improving Lives program.
Our application to participate in the Big Give's Kind2Mind Match Giving Campaign has been approved, with a
total of £2,$00 pledged in Champion Funding. A campaign will launch in May to raise additional support for our
mental health seNices.
Busine55 Su
Summary
The Business Support function faced a significant staff shortage this year, as the key postholder departed in early
August 2023. Existing staff rnembers provided temporary cover within their regular hours to manage some of the
responsibilities during the 5-month gap. Consequently, certain Business Support tasks were put on hold from the
end of August until the post was finally filled in mid-january 2024.
Nevertheless, progress has been achieved in equipping staff to lead the sector, ensuring suitable budget
processes, and providing support as required to the Trustees. The management system, Lamplight, continues to
operate effectively, and efforts to develop our outcomes framework are well undeNay.

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
COMMIThEE OF DIRECTORS AND SOLE TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Business Su
ort
continu
Key activities and progress
In the course of the year, we have undertaken the following key activities..
Developed new EDI and Reserves Policies and updated the organizational handbook Established a new
recruitment process, provided regular Lamplight training, and implemented an internal Learning and
Development program.
Ensured suitable budget processes by setting up live budgets and providing budget management
training for managers.
Supported Trustees in their role by assisting the new Co-chairs and developing the Trustee handbook.
Work with the team to establish an outcomes framework to measure impact. Provide Lamplight training
and support the wider team with ongoing case recording.
Reviewed the provision of office space and reduced use of the Melting Pot following 3 review of costs.
Completed the induction of the new Finance Manager and PA to CEO and provided support during the
grants program and annual audit preparation.
mmunications
Summary
Forces Children Scotland's Marketing & Communications Team had a productive year, delivering key
communications to strategic audiences, including the Impact Report, Influencing Strategy, Tornado of Change
campaign, Scottish Parliament event, stakeholder events, and monthly e-news5etter. We embedded the voice of
young people in our propositions, improved website content, and internal communications to ensure consistent
brand identity. With Rebel Loop Studios, we delivered five new videos and downloadable resources for our Your
Mind Matters Digital Mental Health and Wellbeing Hub, which saw increased user engagement following a
successful Google Ad campaigr). Social media activities on Facebook and Instagram have also shown increased
reach, content interaction, and link clicks. We also collaborated with schools and organizations to gather and
share experiences of young people, and we led communications for the development of an online survey and
promotional activities to support Naval and Royal Marine families.
Key activities and progress
In the course of the year, we have undertaken the following key activitie5:
Transitioned from Universal Analytics to Google Analytics 4 (GA4) in the summer due to the cessation of
data processing by Universal Analytics on 01 July 2023. The team has effectively utilized GA4 for
improved data insights, particularly in enhanced referral and conversion tracking, resulting in a better
understanding of visitor interactions with Forces Children Scotland's web pages.
We collaborated with the Your Mind Matters Team to enrich the content on our Your Mind Matters Hub
by adding podcasts, short videos, and additional downloadable materials. We are currently finalizing
updates and will soon launch a comprehensive promotional campaign to boost Your Mind Matters
webpage traffic from January-march 2024. We will also implement robust tracking to monitor user
behaviour.
We worked with our Youth Participation Team to develop a project page for Forces Children Scotland's
Tornado of Change campaign. We are in the process of updating our project page in the hope of
achieving greater impact by the end of March 2024.
We have worked effectively with our team to deliver a range of key communications throughout the
year. We joined a working group that included young people and members of our policy and youth
participation teams to co-produce our influencing strategy which launched in September.

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
COMMirrEE OF DIRECTORS AND SOLE TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Marketin
Communications
continued
We worked with our Learning and Development Team to deliver a Month of the Military Child
downloadable resource in April, as well as supporting publications in support of the charity's new
learning offer for educatofs and professionals.
We partnered with our Policy Team to organize a successful Scottish Parliament event in October. This
involved developing creative concepts, signage, and coordinating with young people to co-create a
panel discussion and presentation about our Forces Life and Tornado of Change projects. We secured a
budget for event photography and executed a communications plan to build anticipation and report on
the event's success to targeted stakeholders.
Future P
ans
As per our 22-25 Strategic Plan, our future aims are..
We will establish a lead role in the sector, connecting policy and practice, encouraging third sector
partnerships and facilitating sector improvements.
We will work in collaboration with policy makers and partners to ensure Armed Forces children and
young people are considered, included and identified as a distinct group in policies that 5UPPOrt
improved outcomes.
We will work with partners across organisational boundaries to facilitate change across the system,
including between adult and children's 5ector5.
We will help shape the future policy landscape in relation to children and young people from setving,
reseNist and veteran families, improving the visibility and inf luence of our children, young people and
families.
We will work with partners at strategic and operational levels across health, education, social care and
the voluntary sector to develop way5 of working and resources to improve transitions for families
moving into and out of Scotland.
We will develop a media campaign to raise awareness of the needs of children and young people from
seNing, reseNist and veteran families.
We will increase our visibility in Armed Forces communities so that families know who we are and what
support we provide.
We will extend our reach to support organisations working with setving, reservist and veteran adults to
better understand the needs of children and young people, including mental health, trauma and
adversity.
We will build partnerships to achieve improved collective impact across the sector.
We will build our capacity to measure outcomes and impact across all our work, contributing to the
evidence base to influence change, with due regard to the Armed Forces Covenant and the United
Nations Convention on the Rights of the Child IUNCRC).
We will provide a platform for Armed Forces children and young people to engage directly with
decision-makers at all levels to positively shape policy, practice and service delivery.

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
COMMITTEE OF DIRECTORS AND SOLE TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The Board of Trustees meets four times a year. They are responsible for overall strategy, financial and risk
managemenL There are currently 9 Trustees. The officer5 are the Chairperson, Deputy Chairperson, and
Treasurer.
The challenging financial climate, both locally and globally, has imparted our charity due to an ongoing
inflationary pressures, which although easing now, have led to increased costs Bnd reduced available funding.
However, certain cost savings have been realized in the year primarily in relation to gapped positions.
Additionally, significant source5 of unrestricted income have been identrfied and there Is strong confidence that
these sources of income will be realized in the next financial year. Should this income be realized then this will
support the Charity In bullding its unrestricted funds at a level equivalent to 3-6 months of funding.
Fortunately, we have been able to counter some of these negative impacts through the income generated from
our investments, Including dividends and interest, as well as through the disposal of investments, enabling us to
realize capital returns in line with our 'Total Return. investment policy. However, the Trustees are mindful of the
need to preserve the value of our investments to avoid adverse long-term effects on the charity. Therefore, they
are developing a financial framework aimed at maintaining the real value of our investments, growing our
unrestritted funds, and ensuring sufficient funding to achieve our broader strateglc goals.
We have confidence In the professional management of our investments by our advisors and believe that the
proposed financial framework will safeguard the charity's long-term financial stability.
The committee of directors and sole tru5tees' report wa5 approved by the Board of CommitÉee Of Directors And
Sole Trustees.
Mr M Young
Co-chair
Dated., 11 September2024

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
STATEMENT OF COMMIrrEE OF DIRECTORS AND SOLE TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH2024
The committee of directors and sole trustees are responsible for preparing the Committee Of Dirertors And Sole
Trustees, Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland and in England and Wale5 requires the committee of directors and sole
trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the trust
and of the incoming resources and application of resources of the trust for that year.
In preparing these accounts, the committee of directors and sole trustees are required to..
select suitable accounting policies and then apply them consistently,.
observe the methods and principles in the Charities SORP,.
make judgements and estimates that are reasonable and prudent,.
state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the accounts-, and
prepare the accounts on the going concern basis unless it 15 inappropriate to presume that the charity will
continue in operation.
The committee of directors and sole trustees is responsible for keeping sufficient accountir)g records that disclose
with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the accounts
comply with the Charities and Trustee Investment (Scotlandl Act 2005, the Charities Accounts (Scotlandl Regulations
2006 las amended), the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions.
of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
10-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
INDEPENDENT AUDITOR'S REPORT
TO THE COMMIThEE OF DIRECTORS AND SOLE TRUSTEES OF THE ROYAL
CALEDONIAN EDUCATION TRUST
Opinion
We have audited the financial staternents of The Royal Caledonian Education Trust (the 'trust'l for the year ended 31
March 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial
statements, including significant accounting policies. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources
and application of resources, for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,.
and
have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotlandl
Act 2005, regulation 8 of the Charities Accounts (Scotlandl Regulations 2006 (as amended) and the Charities
Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) USAS (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the
financial statements section of our report. We are independent of the trust in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the committee of directors and sole trustees, use of the
going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the trust's ability to continue as a going
concern for a period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the committee of directors and sole trustees with respect to going
concern are described in the relevant section5 of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements
and our auditor's report thereon. The committee of directors and sole trustees are responsible for the other
inforrnation contained within the annual report. Our opinion on the financial 5taternents does not cover the other
information and we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
ststements themselves. If, based on the work we have performed, we conclude that there is a material misstatement
of this other information, we are required to report that fact.
We have nothing to report in this regard.
11

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE cOMMI￿EE OF DIRECTORS AND SOLE TRUSTEES OF THE ROYAL
CALEDONIAN EDUCATION TRUST
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the trust and its environment obtained in the course of the
audit, we have not identified material mi55tatements in the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland)
Regulations 2006 {as amended) and the Charities Act 2011 require us to report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect with the committee of
directors and sole trustees, report,. or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records,. or
we have not received all the information and explanations we require for our audit.
Responsibilities of committee of directors and sole trustees
As explained more fully in the statement of committee of directors and sole trustees. responsibilities, the committee
of directors and 501e trustees are responsible for the preparation of the financial statements and for being sat15fied
that they give a true and fair view, and for such internal control as the committee of directors and sole trustees
determine is necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the f5nancial statements, the committee of directors and sole trustees are responsible for assessing the
trust's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unle55 the committee of directors and sole trustees either intend to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 44(1)Ic) of the Charities and Trustee Investment 15cotlandl Act
2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that include5 our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with
ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they
could reasonably be expected to influence the economic decisions of users taken on the basis of these financial
statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
12

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE COMMirrEE OF DIRECTORS AND SOLE TRUSTEES OF THE ROYAL
CALEDONIAN EDUCATION TRUST
The extent to which the audit was considered capable of detecting irregularitie5 including fraud
In identifying and assessing the risks of material misstatement in respect of irregularitie5, including fraud and
non-compliance with laws and regulations, we considered the following,.
The nature of the industry and sector, control environment and business performance including the design
of the remuneration policies, key drivers for trustee remuneration, bonus levels and performance targets;
results of our enquirie5 of Management about their own identification and assessment of the risks of
irregularities.,
any matters we identified having obtained and review the charitable company's documentation of their
policies and procedures relating to,.
identifying, evaluating and comptying with laws and regulation and whether they were aware
of any instances of non-compliance.,
detecting and responding to the risks of fraud and whether they have knowledge of any
actual, suspected or alleged fraud,.
the internal controls established to mitigate risks of fraud or non-compliance with laws and
regulations,.
the matters discussed among the audit engagement team regarding how and where fraud might occur in
the financial statements and any potential indicators of fraud.
We also obtained an understanding of the legal and regulatory frarneworks that the charitable company operate5 In,
focusing on provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statements. The key laws and regulations we considered in this context
included the Charities and Trustee Investment15cotlandl Act 2005, regulation 8 of the Charities Accounts (Scotlandl
Regulations 2006 las amended) and the Charities Act 2011.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial
statements but compliance with which may be fundamental to the companls ability to operate or to avoid
material penalty. These included Employment law.
Audit response to risks identified
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected relationships-
tested journal entries to identify unusual transactions,.
assessed whether judgements and assumptions made in determining the accounting estimates were
indicative of potential bias-, and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedure5
which included, but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation-
reading the minutes of meetings of those charged with governance,. and
enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations
are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing
standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry
of the directors and other management and the inspeciion of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https.'//
www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
13-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
INDEPENDENT AUDrroR'S REPORT (CONTINUED)
TO THE COMMrrrEE OF DIRECTORS AND SOLE TRUSTEES OF THE ROYAL
CALEDONIAN EDUCATION TRUST
Other matters
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with
"Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
1021" (as amended) in preference to the Accounting and Reporting by Charities.. Statement of Recommended
Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrawn.
This has been done in order for the financial statements to provide a true and fair view in accordance with current
Generally Accepted Accounting Practice.
Use of our report
This report is made solely to the and to the charity's trustees, as a body, in accordance with regulation 10 of the
Charities Accounts IScotland} Regulations 2006. Our audit work has been undertaken so that we might state to the
charity's trustees and trustees those matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the
charity, the charity's trustees as a body,and the charitable company's trustees as a body, for our audit worl for this
report, or for the opinions we have formed.
Myers Clark
19 December 2024
Chartered Accountants
ststutory Auditor
Egale I
80 St Albans Road
Watford
Hertfordshire
WD17 IDL
14-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR EJVDED 31 MARCH 2024
Unrestricted Restricted Endowment
funds
funds
funds
Total
2024
Total
2023
Notes
In
Donations and legacies
Investments
Other income
om
ts from:
12,635
705
450,000
96,641
109,276
110,217
281,745
122,787
2,213
109,512
{450,000)
Total income
463,340
96,641
1340,4881
219,493
406,745
Ex
enditure o
Raising funds
122,884
122,884
142,749
Charitable activities
411,598
193,155
604,753
689,876
Total resources expended
534,482
193,155
727,637
832,625
Net gain/llossl on investments
12
5,453
238,680
244,133
{269,041}
Net movement in funds
(65,6891
{96,5141
1101,8081
1264,011) 1694,921)
Fund balances at l April 2023
{46,573}
150,256
3,785,517
3,889,200
4,584,121
Fund balance5 at 31 March 2024
{112,262)
53,742
3,683,709
3,625,189
3,889,200
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
15

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2024
Prior Year Comparative Detail
Unrestrirted Restricted Endowment
funds
funds
funds
Total
2022
Income and endowm
Donations and legacies
Investments
Other income
from:
23,087
255
450,000
258,658
281,74S
122,787
2,213
122,532
{450,0001
2,213
Total income
473,342
260,871
1327,468}
406,745
enditure on:
Raising funds
119,512
23,237
142,749
Charitable activities
411,468
278,408
689,876
Total resources expended
530,980
278,408
832,625
Net gain/lloss} on investments
5,414
1274,455)
{269,041)
Net movement in fund5
152,2241
140,774)
(601,9231
(694,9211
Fund balances at l April 2022
5,651
191,030
4,387,440
4,584,121
Fund balances at 31 March 2023
(46,573)
150,256
3,785,517
3,889,200
16-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
BALANCE SHEET
ASA T31 MARCH2024
2024
2023
Notes
Flxed assets
Investments
14
3,645,496
3,872,005
Current assets
Debtors
Cash at bank and in hand
15
19,397
161,448
9,734
93,263
L80,845
102,997
Creditors: amounts falling due within
one year
16
{201,1521
{85,802)
Net current {liabilitiesl/assets
(20,3071
17,195
Total assets le55 current liabilities
3,625,189
3,889,200
Capital funds
Endowment funds
Endowment funds- general
Income funds
Restricted funds
Unrestricted funds
17
3,683.709
3,785,517
18
53,742
{112,262)
150,256
(46,573)
3,625,189
3,889,200
The accounts were approved bythe Committee Of Directors And Sole Trustees on 11 September 2024
Mr M Young
Co-chalr
17-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
1.1 Accounting convention
The accounts have been prepared in accordance with the trust's governing document, the Charities and
Trustee Investment (Scotlandl Act 2005, the Charities Accounts (Scotland) Regulations 2006 las amended), the
Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice..
Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 effective l January 2019.
The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent
required to provide a true and fair view. Thi5 departure has involved applying 'Statement of Recommended
Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective l January 2019, rather
than the version of the Statement of Recommended Practice referred to in the regulation but has since been
withdrawn.
The trust constitutes a Public Benefit Entity.
The trust has taken advantage of the provisions in the 50RP for charities applying FRS 102 Update Bulletin I
not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention with items recognised at
cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The Trust comprises a public benefit entity as defined by FRS 102.
1.2 Going concern
At the time of approving the financial statements, the committee of directors and sole trustees have a
reasonable expectation that the trust has adequate resources to continue in operational existence for the
foreseeable future. Thus the committee of directors and sole trustees continue to adopt the going concern
basis of accounting in preparing the financial statements.
1.3 Charitable fund5
Unrestricted funds are donations and other income received or generated for the objects of the charity
without further specified purpose and are available as general funds. Designated funds are unrestricted
funds earmarked by the Directors for particular applications.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets
these criteria is identified to the fund, together with a fair allocation of overheads and support costs.
Permanent endowment funds are funds which have been given to the charity to be held as capital with no
powerto convert the funds to income.
Expendable endowment funds are funds g iven to the charity to be held as capital. The Trustees may convert
the funds to income if no other income funds are available.
1.4 Incoming resources
Income is recognised when the trust is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Income from government and other grants is recognised when the charity has entitlement to the funds, any
performance conditions attached to the g rants have been met, it is probable that income will be received
and the amount can be measured and is not deferred.
18

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
Dividends are recogni5ed once the dividend has been declared and notification has been received of the
dividend due. This is normally upon notification by investment managers of the receipt of the dividend.
Income received in advar)ce of recognition criteria being rnet is deferred until the criteria for recognition are
met.
1.5 Resource5 expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to that
expenditure, it is probable that settlement will be required and the amount of the obligation can be
measured reliably.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the trust.
Single or multi-year grants are accounted for when the recipient has a reasonable expectation that they will
receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a
reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the
control of the trust.
Allocation of costs
Expenditure is allocated to a particular activity where the costs relate directly to that activity. Direct
expenditure has been allocated on the basis indicated below..
Cost of generating funds.. These include all expenditure spent in generating the voluntary income.
Charitable activities-. These include all expenditure directly related to the objects of the charity.
Support costs comprise costs incurred in support of the above activities. Included in support costs are costs
incurred in the governance of the charity which are primarily associated with the constitutional and statutory
requirements. Support costs are allocated to activities based on an estimate of staff time spend on each
activity during the financial period.
Irrecoverable value added tax
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Grants
Grants payable made to third parties in the furtherance of the charitable objects of the charity. In the case of
an unconditional grant offer this is accrued once the recipient has been notified of the grant. Grants awarded
that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has
been notified of the grant and any remaining unfulfilled condition attachin9 to the grant is outside the control
of the charity.
Pension contributions
The charity makes payments to a defined contribution pension scheme for its employees. Contributions are
charged to the Statement of Financial Activities in the period they are payable.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses. All items of capital expenditure over £500 are capitalised.
Depreciation is recognised so as to write off the cost or valuation of asset5 less their residual values over their
useful live5 on the following bases..
Fixtures and fittings
Computers
over 5 years
over 4 years
19-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Fixed asset investments
Listed investments are a form of basic financial interest and are initially recogni5ed at their transaction value
and subsequently measured at their fair value at the balance sheet date using the mid- market value.
1.8 Cash and cash equivalent5
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Financial instruments
The trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, of FR5 102 to all of its
financial instruments.
Financial instruments are recogni5ed in the trust's balance sheet when the trust becomes paty to the
contractual provisions of the instrument.
8asic financiala5sets
Basic financial assets, which include debtor5 and cash and bank balances, are initially Measured at transaction
price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitute5 a financing transaction, where the transaction is measured at the
present value of the future receipts discounted at a market rate of interest. Financial assets classified as
receivable within one year are not amortised.
Basic
Inancialliabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Derecognition of financialliabilities
Financial liabilities are derecognised when the trust's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's seNices are
received.
Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to
terminate the employrllent of an employee or to provide termination benefits.
1.11 Leases
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on
a straight line basis over the term of the relevant lease.
-20-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Donations and legacies
Unrestricted Restricted
funds
funds
Total
2024
Total
2023
Donation5 and gifts
12,635
96,641
109,276
281,745
For the year ended 31 March 2023
23,087
258,658
281,745
Investments
Unrestrirted Endowment
funds
funds
2024
2024
Total Unrestricted Endowment
funds
funds
2023
2023
Total
2024
2023
Income from listed
investments
Interest receivable
109,512
109,512
705
122,532
122,532
255
705
255
705
109,512
110,217
255
122,532
122,787
21

Zz
<0

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2024
Raising funds
Vnrestri¢ted Restricted
funds
funds
Total
2024
Total
2023
Costs of generating voluntary income
Direct costs
Support & governance costs
72,960
29,283
72,960
29,283
69,852
49,819
Costs of generating voluntary income
102,243
102,243
119,671
Investment management fees
20,641
20,641
23,078
122,884
122,884
142,749
23-

Zi
<0

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EIVDED 31 MARCH 2024
Grants payable
2024
2023
Grants to individuals
69,190
91,993
69,190
91,993
Committee Of Directors And Sole Trustees
Trustee remuneration and expenses
None of the committee of directors and sole trustees lor any persons connected with them) received any
remuneration or benefits from the trust during the year.
2 Trustees (2023.. 3) were reimbursed travel expenses totalling £99 {2023: £4941.
Support & governance costs
2024
2023
SUPPORT COSTS
Staff costs
Recruitment and staff development
Premises expenses
PR, marketing and Annual Review
Printing, stationery, postage and phone
Travelling
Other
Accountancy
Computer & office equipment costs
144,970
4,809
11,374
1,476
5,049
3,021
7,795
1,504
7,484
130,715
4,836
8,240
1,640
1,518
3,710
8,546
3,888
6,402
GOVERNANCE COSTS
15,400
9,185
202,882
178,680
Analysed between
Fundraising
Charitable activities
29,283
173,599
49,819
128,861
202,882
178,680
Governance costs includes payments to the auditors of £9,96012023 - £9,000) for audit fees.
25-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Employees
The average monthly number of employees (head count based on number of staff employed) during the
year was..
2024
Number
2023
Number
Raising funds
Charitable activites
Support and Governance
io
15
13
Employment costs
2024
2023
Wages and salaries
Social security Costs
Other pension costs
410,401
39,240
16,167
372,273
33,342
13,652
465,808
419,267
There was one employee (2023 - 1) whose annual emoluments were £60,000 or more.
The number of employees whose annual remuneration was £60,000 or more
were..
2024
Number
2023
Number
£70,001 to £80,000
11 Taxation
The charity 15 exempt from taxation on its activities because all its income is applied for charitsble purposes.
12 Net gains/(losses) on investments
Unrestricted Endowment
funds
funds
general
Total
2024
Total
2023
Revaluation of investments
5,453
238,680
244,133
(269,041)
For the year ended 31 March 2023
5,414
{274,455)
{269,0411
-26-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME= FORCES CHILDREN SCOTLAND
NOTES TO THE FXNANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Tangible fixed assets
Fixtures and
fittings
Computers
rotal
Cost
At l April 2023
869
2,976
3,845
At 31 March 2024
869
2,976
3,84S
Depreciation and impairment
At l April 2023
869
2,976
3,845
At 31 March 2024
869
2,976
3,845
Carrying amount
At 31 March 2024
At 31 March 2023
14 Fixed asset investments
2023
2022
Cost or valuation
At 31 March 2023
Withdrawn
Valuation changes
3,872,005
(470,641)
244,132
4,614,126
1473,0801
1269,0411
At 31 March 2024
3,645,496
3,872,005
Impairment
At 31 March 2023
At 31 March 2024
Carrying amount
At 31 March 2024
3,645,496
3,872,005
At 31 March 2023
3,872,005
4,414,791
2024
2023
Investments at fair value comprise..
Investment assets held in the UK
Investment assets held outside the UK
2,251,582
1,393,914
2,542,474
1,329,531
3,645,496
3,872,005
-27-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Fixed asset investments
(Continued)
2024
2023
Investments representing over 5% by value of portfolio comprise..
JPMorgan Fund ICVC JPM US Equity Income C Net Dis
Aberdeen Asian Income Fund Shares
Natixis Investment Funds UK ICVC Loomis Sayle5 U5 Eqty Leaders IA USD Acc
248,247
228,072
271,224
224,974
235,898
194,766
747,543
655,638
Fixed asset investments revalued
Fixed asset investment are valued at market value at the year end.
The historical cost of the fixed asset investments is £2,639,64612023: £2,958,588).
Fixed asset investments include cash held awaiting investment of £66,401 (2023.. £270,831).
15 Debtors
2024
2023
Amount5 falling due within one year.
Prepayments and accrued income
19,397
9,734
16 Creditors: amounts falling due within one year
2024
2023
Other taxation and social security
Accruals and deferred income
8,500
192,652
13811
86,183
201,152
85,802
28-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17 Endowment funds
Endowment funds represent assets which must be held permanently by the trust. Income arising on the endowment
funds can be used in accordance with the objects of the trust and is included as ur)restricted income. Any capital gain5
or losses arising on the as5et5 form part of the fund.
Movement in funds
Resources
Gains and Release from Balance at 31
expended
1055e5
unapplied
March 2024
total return
fund /
Transfers
Balance at I
April 2023
Incoming
resources
Permanent endowments
Sale of the school
3,785,517
109,512
238,680
1450,000)
3,683,709
3,785,517
109,512
238,680
1450,0001
3,683,709
Movement in funds prior period
Incoming
Resources
Gains and Release from Balance at 31
resource5
expended
1055es
unapplied
March 2023
total return
fund /
Transfers
Balan¢e at I
April 2022
Permanent endowments
Sale of the school
4,387,440
122,532
1274,4551
1450,000)
3,785,517
4,387,440
122,532
1274,4551
1450,0001
3,785,517
-29-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
Movement in funds current year
Incoming Resources Balance at 31
resources
expended March 2024
Balance at I
April 2023
ABF The Soldiers Charity
Scottish Childrer)'s Lottery
Board game
Paul Hamlyn
Armed Forces Covenant
Armed Forces Covenant Fund Trust Funding - YMM
Veterans Scotlar)d
Scottish Government - Future Transactions
Brit + FGN
10,369
2,171
{967)
(10,3691
(7,171}
5,000
{967}
33,000
16,767
7,575
17,499
28,902
{12,1021
133,000)
141,7671
148,5421
(23,6981
{28,608)
25,000
75,007
25,997
34,040
L9,798
294
577
12,679
150,256
96,641
1193,1551
53,742
Included within incoming resources is an amount returned to I funder totalling £12,102 as a result of an
underspend during the year ended 31 March 2023.
Movement in funds prior period
Incoming Resources Balance at 31
resources
expended March 2023
Balance at I
August 2022
ABF The Soldiers Charity
Queen Victoria Sch QVS - Lighthouse
Scottish Children's Lottery
Paul Hamlyn
Board Game
The Veterans Foundation Grant
Veterans Scotland
Veterans Scotland
Ground Work
Brit + FGN
Armed Forces Covenant Fund Trust Funding - YMM
Armed Forces Covenant
24,973
26,000
1,000
{40,604)
(1,000)
10,369
2,171
6,448
(967)
2,171
30,000
(36,4481
(9671
20,000
3,500
62,416
1,000
16,037
72,720
28,198
(20,000)
{3,500)
(36,419)
12,000)
19,3351
{107,0941
{45,2451
25,997
1,000
5,977
109,381
42,047
12,679
75,007
25,000
191,030
260,871
(301,645)
150,256
-30-

<0

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
20 Analysis of net assets between funds
Unrestricted
funds
Restricted Endowment
funds
funds
Total
Fund balances at 31 March 2024 are
represented by:
Investments
Current assetsl(liabilities)
138,2131
174,049}
3,683,709
3,645,496
(20,307)
53,742
(112,262)
53,742
3,683,709
3,625,189
Unrestricted
funds
Restricted Endowment
funds
funds
Total
Fund balances at 31 March 2023 are
represented by..
Investments
Current assets1lliabilities)
86,488
1133,0611
3,785,517
3,872,005
17,195
150,256
(46,573}
150,256
3,785,517
3,889,200
21 Permanent Endowment
Endowment
Unapplied
Fund Total Return
Total
Endowment
Fund
At l April 2023
Sale of school
Unapplied total return
2,600,000
2,600,000
1,185,517
1,185,517
Total
2,600,000
1,185,517
3,785,517
Movements to 31 March 2024
Investment return dividends
Investment return - realised & unrealised gains
109,512
238,680
109,512
238,680
348,L92
348,192
Unapplied total return allocated to income in the year
{450,000}
{450,0001
Net movements in the year
1101,808)
101,808
At 31 March 2024
Sale of school
Unapplied total return
2,600,000
2,600,000
1,083,709
1,083,709
Total
2,600,000
1,083,709
3,683,709
-32-

THE ROYAL CALEDONIAN EDUCATION TRUST
OPERATIONAL NAME: FORCES CHILDREN SCOTLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EIVDED 31 MARCH 2024
22 Operating lease commitments
At the reporting end date the trust had no outstanding commitments for future minimum lease payments
under non-cancellable operating leases.
23 Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel, including redundancy payments, employers Nl and
employers pension contributions is a5 follows..
2024
2023
Aggregate compensation
76,885
73,557
Transactions with related partie5
During the year, 2 trustees 12023.. 31 were reimbursed for travel and subsistence costs totalling £99 12023..
£4941,
-33-