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2023-09-30-annual-return

Comd/SO2 SPS – Independent Examiner’s Report on the Accounts, and Comments

Disclosure Section (Only to be completed if the examiner needs to highlight material problems/discrepancies)

Give here brief details of any items that the examiner wishes to disclose:

  1. This AF N1514 was submitted late and should have been received by SPS Branch NLT 2 months after the end of the audit period – 30 Nov 23 (SFRs Chapter 21, Para 2111 refers).

  2. The SOFA Unrestricted/GPF ‘Incoming Resources from Charitable Activities’ figure (£9,781.86) is different from the total on the Unrestricted/GPF analysis (£11,918.62). This requires an explanation as it throws out other figures on the SOFA and figures adjusted as required.

  3. The balance sheet needs to be signed by the Fund Manager and Managing Trustee at page 4.

  4. There are 7 debtors totalling £3,569.47 and although the Fund Manager has commented on this they are all between 9 and 15 months old and need to be cleared ASAP.

  5. There are 4 creditors totalling £1,584.00 and although the Fund Manager has commented on this they are all between 12 and 14 months old and need to be cleared ASAP.

Comd/SO2 SPS Comments

  1. I have reviewed the Central Bank income for Queen’s UOTC over the last 3 Audit Periods and its genuine income has not exceeded £250,000 in one of these years. ( 2020/21 -£9,761.86; 2021/22 -£23,952.71; 2022/23 -£13,916.81).

  2. The operation and structure of the Charity is understood.

  3. In the compilation of this report, I have referred to the Unit’s annual G1 Audit Report.

  4. I have examined the PAXTON/AB 397 balances at the end of the audit period.

  5. During the Unit’s annual assurance visit an appropriate level of sampling was conducted on all accounts and subsidiary books.

  6. The Final Accounts and G1 Audit Report have revealed no unusual items, unexpected fluctuations or inconsistencies. The assets and liabilities are consistent with the type of activities that the Charity operates.

  7. The fund operates on the accruals basis conforming with s.42(1).

  8. The accounting policies are consistent in application and appropriate to the activities of the Charity.

  9. There has been no event that has had an adverse impact on the worth of the Charity subsequent to this report.

  10. This check is not applicable to this Fund.

  11. Nothing further to report in addition to the comments made by the MT and IA.

  12. There has been no deliberate act of misconduct in the administration of the Charity.

Independent Examiner’s Electronically Signed Signature

Name Maj I H McDonald Date: 28 Jun 24 Appointment SO2 SPS______

Fund Manager response to Ser 2 of Disclosure Section:

2. The SOFA Unrestricted/GPF ‘Incoming Resources from Charitable Activities’ figure (£9,781.86) is different from the total on the Unrestricted/GPF analysis (£11,918.62). This requires an explanation as it throws out other figures on the SOFA and figures adjusted as required.

The SOFA is set up (by Pers Admin Branch) – the figures on the SOFA pull through automatically from the relevant part of the analysis sheet. When completing the SOFA the FM has not altered the formulas. The Independent Examiner’s Advisor confirmed by TELCON that there were no figures to alter for this account.

The Queen’s UOTC manual accounts will be managed in the following way from 1 Oct 23 onwards to make it easier to manage and independently account:

FM Signature Electronically Signed

Name Capt A F Scott Date: 28 Jun 24 Appointment Adjt/RAO Queen’s UOTC