2026-03-31-accounts

Company number: 293432 Charity Number: 305962 Scottish Charity Number: SC039057

Report and financial statements For the year ended 31 March 2026

Army Cadet Charitable Trust UK

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For the Year Ended 31 March 2026

Contents

Contents
Reference and administrative information	2
Trustees’ annual report	4
Independent auditor’s report	17
Statement of financial activities (incorporating an income and expenditure account)	21
Balance sheet	22
Statement of cash flows	23
Notes to the financial statements	24

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For the Year Ended 31 March 2026

Reference and Administrative Information

President

Lieutenant General Sir Andrew Graham Bt CB CBE

Trustees

Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Chair Treasurer

• C Duncan Capps A B D Sarah Dickson C Jemma Ralph C Wendy Adams A G David Chipp A D Ruadhri Duncan (resigned 21 March 2026) E Simon Harrison (appointed 2 May 2025) B C F Joyce Quin C Oliver Rice-Adams Charlotte Shyllon (appointed 4 Jun 2025)

• A B D Justin Tarka A D Christopher Tearney

Co-opted member [B ] Catherine Harrison D Ruadhri Duncan (appointed 21 March 2026)

• A denotes membership of the Finance and General Purposes Committee B denotes membership of the Joint HR and Remuneration Committee C denotes membership of the Nominations and Governance Committee D denotes membership of the Joint Investments & Audit Committee E denotes membership of the ACCT UK Northern Ireland Branch Committee F denotes membership of the ACCT UK Scotland Branch Committee G denotes membership of the ACCT UK Wales Branch Committee

Company number 293432 Country of incorporation United Kingdom

Charity numbers 305962 SC039057 Country of registration England & Wales Scotland Registered office Holderness House and operational address 51-61 Clifton Street London EC2A 4DW

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For the Year Ended 31 March 2026

Other Names the Charity Operates Under

ACCT Cymru, ACCT Wales, Army Cadet Charitable Trust Wales, ACCT UK Wales Branch, ACCT NI, ACCT Northern Ireland, Army Cadet Charitable Trust Northern Ireland, ACCT UK Northern Ireland Branch, ACCT Scotland, Army Cadet Charitable Trust Scotland, ACCT UK Scotland Branch and ACCT UK

Key management	Murdo Urquhart	Chief Executive
personnel	Richard Walton	Deputy Chief Executive
	Faye Meakin	Director of Development
	Matthew Brookes	Director of Finance
Bankers	Lloyds Bank plc
	Butler Place
	London SW1H 0PR
Investment	W1M
managers	16 Babmaes Street
	London SW1Y 6AH
Auditor	Sayer Vincent LLP
	Chartered Accountants and Statutory Auditor
	110 Golden Lane
	London EC1Y 0TG
Solicitor	Bates Wells
	10 Queen Street Place
	London EC4R 1BE

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For the Year Ended 31 March 2026

Trustees’ Annual Report

The trustees present their report and the audited financial statements for the year ended 31 March 2026.

Reference and administrative information set out on page 2 and 3 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and Aims

The Army Cadet Charitable Trust UK (“ACCT UK”) has two charitable objects:

(1) To give mental, moral and physical training to young people and so to form and develop the character of each as to enable them to make a good start in life and to develop in them principles of good citizenship.

(2) To promote the efficiency of the Army Cadet Force through fostering the activities of Army Cadets and advancing the youth leadership abilities of Army Cadet Force Adult Volunteers

The charity’s first purpose is therefore to enable access to activities that will educate, develop and broaden the interests of young people, including over 39,000 who are cadets in the Army Cadet Force (ACF). Young people meet in one of 1,590 community based ACF Detachments across the whole of the UK; these detachments are grouped into “ACF Counties” (known variously as County, Battalion or Sector) based on one or more geographical or historical Local Authority areas. ACCT UK looks to enhance young peoples’ development both through the delivery of support to ACF Counties and by the making of grants to support individual cadets; to support local initiatives; or, to help existing ACF Counties to improve their resilience and so ensure they are able to deliver development opportunities to young people for many years to come.

ACCT UK offers grants to enable cadets to take part in a wide range of activities, as well as grants to support ACF Adult Volunteers to develop their youth leadership skills. The charity also provides membership support services in the interests of the entire ACF, such as the provision of confidential welfare support to volunteers, insurance cover against accidents, travel difficulties and to provide legal advice and assistance.

To further the charity’s second object, ACCT UK assists the Army’s chain of command to co-ordinate national training for the non-military aspects of the Army Cadets training syllabus, notably the Duke of Edinburgh’s (DofE) Award, Adventurous Training (AT), music, first aid and sport, also contributing to the delivery of courses for ACF adult volunteers across these areas. With a grant from the Ministry of Defence (MoD), ACCT UK is also able to support the delivery of Piping and Drumming Qualifications Board, Defence Awarding Organisation and BTEC accredited qualifications across the UK. Both the trustees and the staff of ACCT UK invest time in promoting the ethos and activities of the ACF to wide audiences including businesses and local communities as well as supporting ACF adult volunteers with access to information and introductions to useful organisations and individuals.

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For the Year Ended 31 March 2026

ACCT UK supports and promotes the positive actions of cadets and adult volunteers by recognising and rewarding their contribution to wider society. The charity runs two award programmes: the ACCT UK Excellence Awards recognising the outstanding cadets and adult volunteers of the ACF in fields of sport, first aid, music, Duke of Edinburgh’s Award and Community Service; and the ACCT UK Praiseworthy Action Award, for those cadets and adult volunteers who render help and assistance to the general community from minor incidents to life-saving situations and other real-life emergencies. In the calendar year 2025 ACCT UK provided recognition to 111 cadets and 97 adult volunteers who stepped forward demonstrating excellence, selflessness and dedication particularly in supporting people, community service, and rendering first aid. ACCT UK also nominated and successfully obtained 38 national awards for cadets and 20 national awards for adult volunteers. These were non-state awards by bodies including the Royal Humane Society, the British Citizen Award and the League of Mercy.

In respect of the second object, a particularly important but intangible role of ACCT UK is to act as an adviser to HM Government, predominately the MoD and Army, and other bodies on ACF matters. This is because ACCT UK is part of the ACF’s “corporate memory”, briefing and informing the leaders of the day, doing this whilst remaining an impartial but enthusiastic supporter of the important and ongoing development of the ACF as a modern and vibrant youth service.

In particular ACCT UK acts, informally, as the Army chain of command’s ‘conscience’ as it runs this wonderful national youth movement (the ACF) made possible by adult volunteers who give their time to develop young people. The financial and material support for the ACF comes from the Army, which quite rightly imposes necessary training safety and safeguarding regimes through its chain of command. ACCT UK plays a part in making this relationship work by providing support and advice to the Army, including contributing to the development of central policies and direction needed to run the ACF. This is done formally by attending MoD and Army Cadet steering and working group meetings, developing cadet strategy and policies, and informally through constant ongoing dialogue with the chain of command by ACCT UK’s President, trustees and members of the senior leadership team.

The trustees review the aims, objectives and activities of the charity each year in the light of these charitable objects. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focussed on its stated purposes.

The enduring priority for ACCT UK’s trustees is to ensure that young people can develop through membership of the ACF. This means a focus on some key areas:

• Providing useful and developmental membership services in order to support volunteers, both in maintaining positive mental health as the role models and responsible adults for the ACF’s young people, and also in developing skills to better deliver a high-quality cadet experience.

• Supporting the ACF as an organisation to deliver certain activities that support the rounded development of cadets.

• Supporting ACF Counties, Regions and Training Centres to deliver innovative developmental training to young people.

• Removing barriers, such as cost, to individual cadet participation in ACF activities.

• Advocating for the ACF to key influencers in order that the benefits of participating in ACF activity are widely understood and well supported.

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For the Year Ended 31 March 2026 The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Our Values

As a charity dedicated to improving the lives of young people, we feel it is important to have clearly articulated values. As a charity that supports the Army Cadets, a values-led youth organisation, it is important that our values align. Our values are:

• ABIDING . We learn from the past and plan for the future. Retaining our best staff is as important to us as recruiting quality new team members.

• COMMITTED . We are dedicated in our mission to empower young people through cadet activities and our staff enable us to inspire young people to achieve their future ambitions.

• COURAGEOUS . We want our staff to speak up and feel confident they will be heard. We are at our best when all have the courage to do what is right.

• TRUSTWORTHY . We are inclusive and principled. We make values-based judgements and think deeply about our programmes and activities. We want our staff to accept one another for who they are and build positive relationships.

Achievements and performance

ACCT UK's main activities and who it seeks to help are described below. All its charitable activities focus on the cadets, volunteers and counties of the ACF and are undertaken to further ACCT UK’s charitable purposes for the public benefit.

ACCT UK uses MoD funding to deliver programmes of activity for young people in the ACF. This includes acting as the licenced provider for the Duke of Edinburgh’s Award, first aid and music qualifications. We help facilitate national public performances and ceremonial activity by the provision of resources to enable these key cadet activities.

ACCT UK furthers its objects through the awarding of grants to individual cadets and adult volunteers, or to ACF Counties. In support of cadets and volunteers we paid grants of £150,044 (2025: £121,608). In support of ACF Counties, Regions and Training Centres we paid grants of £1,134,836 (2025: £94,537).

Grant Programmes

Grants to cadets are made in order to make activities more accessible, irrespective of a young person’s financial means. Grants to adult volunteer are intended to make qualifications accessible to all, thus improving the youth leadership abilities of adult volunteers. Some of our grants also enable individuals to evidence the skills and experience they have developed through the ACF to prospective employers by funding recognised qualifications.

Here are some examples of how ACCT UK grants have supported cadets and volunteers this year:

• City of London & North East Sector ACF: Support to 16 cadets to take part in a static-line parachuting course at the Army Parachute Association centre at Netheravon.

• Bristol & The Channel Islands ACF: Support to 13 cadets to participate in Ex Bristolian Channel Tiger, a 5-day adventurous training and cultural visit to Guernsey and Island of Sark.

• Greater London South West Sector ACF: Support for 20 cadets and 5 volunteers to attend a 15-day cultural exchange trip to Australia.

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For the Year Ended 31 March 2026

• Middlesex & North West London Sector ACF: Support to 13 cadets and 7 volunteers to attend a 4-day battlefield study tour to France and Belgium.

• Wiltshire ACF: Support to 37 cadets to attend the 2025 Arnhem March in the Netherlands.

• Various ACF Counties: Matthew Bacon Bursary awarded to 7 cadets to attend a 14-day Outward Bound Trust Summer Adventure Course.

• Angus & Dundee Battalion ACF: Support to 112 cadets to visit the Beamish Open-Air Museum.

• Various ACF Counties: For 56 volunteers, funded part of the cost of qualifications (including City & Guilds Graduateship Qualifications and Institute of Leadership Management).

Grants to ACF Counties, Regions and Centres are generally made to support the purchase of equipment or the development of facilities that will improve the experience of many cadets over a number of years. Some examples of ACCT UK grants in this category this year are:

• Essex ACF: support to purchase new paddles, coils and helmets to enable access to county-led adventurous training activities.

• Norfolk ACF: Support to purchase 8 GPS trackers to support DofE Award and syllabus expeditions to enable safe remote monitoring, whilst allowing cadets to take greater independence and responsibility.

• Greater Manchester ACF: Support to purchase 50 dry robes for cadets to use when participating in sports activities.

• 1[st] Battalion (The Highlanders) ACF, Lerwick Detachment: Support to purchase an interactive smart board and stand to assist in the delivery of training.

Also in this financial year, ACCT UK made a grant of £1,102,503 for 1,200 air rifles and accessories for use by the ACF. These were purchased by the charity and subsequently distributed to 54 ACF Counties, and 10 Regions and Training Centres. Through this provision, ACCT UK has supported the delivery of personal development opportunities to young people, through access to a sufficient quantity of serviceable air weapons to enable a structured shooting syllabus, which promotes concentration, self-discipline, respect for rules and a sense of responsibility.

Beneficiaries of our services

There are two main ways in which ACCT UK delivers benefit to its beneficiaries: (1) through the provision of grants and (2) through the provision of support to the ACF in terms of people to deliver activity that supports the efficiency of the ACF. As explained earlier in this report, grants are made either to support the ACF County and its ability to deliver the cadet programme, or to individual cadets and volunteers to enable them to access or deliver the full range of opportunities in the ACF.

In order to measure the difference that these grants and activities have made, the trustees ask for reports from grant recipients. These detail the impact of the grant and are used to help the trustees to decide both what funding to bid for and how best to structure ACCT UK’s grant programmes in the future.

Some examples of the impact on the beneficiaries of our grants include:

• Lancashire ACF received a grant to enable 16 cadets to take part in a 5-day skiing expedition in Germany. For most, this was their first time on skis and for some, their first time travelling overseas. The expedition lead, Lt Whalley, told us, “the cadets were challenged both on and off the mountain. The aim of the trip was always to provide a challenging adventurous training experience and develop skiing skills, but what makes experiences like this important is the opportunity to develop

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For the Year Ended 31 March 2026

the cadets as individuals and future leaders.” One parent also wrote to say “he has come back with so many fabulous stories and has grown in confidence on this trip away. He has never been skiing before. This experience has clearly had a very positive impact on him and provided him with lasting memories. He is now a fan of skiing!”

• Greater Manchester ACF received a grant to enable 30 cadets to attend a once-in-a-lifetime overseas adventure in Gibraltar. The trip combined military training, adventurous activities, and cultural experiences that inspired confidence, strengthened friendships, and deepened an international alliance with the Royal Gibraltar Regiment Army Cadet Force. Cadet RSM Ionescu reflected proudly: “I never thought I could finish my time in cadets with an experience like this… First trip to Gibraltar, training in FIBUA and tunnel fighting, adventure training, powerboating, The Rock, SCUBA diving and friends, what a week!” For Cadet Sgt Jones, the experience was special, “if I had been told I would have a week like this in cadets when I started, I wouldn’t have believed them… I’ve done so many things with a great group of friends, all because of the cadets.”

• Wiltshire ACF received a grant that enabled 4 volunteers to gain a paddlesport instructor qualification. This has helped build a team of qualified instructors ready to deliver paddle sport training and adventures across the county, bringing water-based adventures to young people who might never have had the chance otherwise. By investing in instructor training rather than one-off experiences, the grant ensures sustainable benefits that will ripple through Wiltshire ACF for years to come. SMI Collins highlighted this benefit: “To have the direct support of ACCT UK behind us is brilliant. Becoming self-sufficient in water sports means cadets and instructors can enjoy these activities either free or at a much lower cost than commercial centres.” As Major Kingston, explained “it will enable cadets to be introduced to paddling and time on the water. For many cadets, this will be a unique opportunity to experience something new and develop fitness, teamwork and leadership skills. It could even spark a lifelong hobby or future Olympic ambition.”

Financial review

The statement of financial activities for the year is set out on page 21 of the financial statements. A summary of the financial results and the work by ACCT UK is set out below.

Income for the year included donations and grants of £8,023,416 (2025: £5,698,587), income for supporting cadets and volunteers of £311,401 (2025: £127,631), other trading activities of £3,000 (2025: £39,116) and investment income and interest of £90,891 (2025: £97,218). Total gross income amounted to £8,428,708 (2025: £5,962,552). The growth in donations and grants was primarily due to an increase in Ministry of Defence grants for charitable activities.

Expenditure for the year included costs of raising funds of £84,377 (2025: £8,204) as the charity continues to focus on increasing fundraising income. Costs of activities in support of ACF Counties comprised £4,877,761 (2025: £3,146,839) and costs of supporting cadets and volunteers comprised £2,334,590 (2025: £2,634,252). Total expenditure amounted to £7,296,729 (2025: £5,789,295). The increase in expenditure was due to additional charitable activities, driven by the higher income, including grants.

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Net income for the year before investment gains amounted to £1,131,979 (2025: £173,257) due to income received in the year for charitable activities in the following year and a delay in some planned activity. The charity anticipates a continued increase in activity over the next three years to utilise these funds in support of their intended purpose.

Investment Policy and Performance

The trustees expect the charity to exist in perpetuity and its investment policy is designed to support the long-term financial health of the charity. ACCT UK adopted its current investment policy in November 2025; its stated objectives are to:

• Produce the best financial return within an acceptable level of risk.

• Generate a return of CPI plus 3% per annum over the long term (defined as a five-year average), after expenses.

ACCT UK has adopted a total return approach to investment, generating the investment return from income and capital gains or losses. It is expected that if in any one year the total return is insufficient to meet the growth target, in the long term the real value of the investments will still grow in accordance with the investment objectives above.

ACCT UK has decided not to invest in assets that the trustees consider to be contrary to the spirit of its objects, particularly if they run counter to the values of the charity. In particular tobacco, alcohol and pornography are excluded from any direct investments and will only be included in a pooled or passive strategy where exclusion is not feasible without a disproportionate impact on performance or diversification.

The trustees have set aside funds to be invested and treated as an investment. There are two aims: (1) to maintain the real-term value of the portfolio and (2) to generate income for the grants programmes. During the year net gains on the fair value of investments amounted to £520,724 (2025: £204,605). The investment objective is to generate a return of CPI plus 3% per annum over the long term. The five-year average of CPI + 3% to the end of March 2026 has been calculated as 8.64% (March 2025: 8.12%). As at 31 March 2026 the portfolio’s five-year average shows a return of 7.47% (2025: 8.10%). As the fair value of the investments, the return for the year and the five-year average return were adversely impacted by a shortterm fall in global markets that has since reversed, the trustees remain satisfied with the investment performance.

To support the efficient delivery of our programme of charitable work and to efficiently manage cash flow, the trustees have directed that funds earmarked for use in the next two years are to be held in cash or near-cash products of no more than 24-months in duration. At present the funds held in such instruments are £4,104,773 (2025: £4,556,355). There are significant funds being held for future charitable activity and, as such, ACCT UK is working to a deficit budget in 2026/27.

Principal risks and uncertainties

The trustees examine the major risks that ACCT UK faces each financial year during routine board meetings and in meetings between the senior trustees and the Chief Executive. The charity has systems in place to monitor and control these risks to mitigate any impact that they may have on ACCT UK's activities in the future.

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For the Year Ended 31 March 2026

• Financial Risk . As ACCT UK’s funding comes largely from a single source (the Army’s Headquarters Regional Command) there is a risk that any government savings drive or call for in-year efficiencies could impact upon funding. The Trustees mitigate this risk by: maintaining reserves to cover a loss of funding in the short-term should the charity need to adjust to a lower-income model; having a formalised Memorandum of Understanding with HQ Regional Command outlining what funding is required and how it will be used; and through the Finance and General Purposes Committee exercising oversight of the financial status of ACCT UK. In addition, the trustees have been developing alternative income streams through its fundraising function, with donation income increasing by 21% this year.

• Resilience Risk . A temporary or permanent loss of the head office in the Holderness House building due to fire, flood or other emergency. The Trustees mitigate this risk by: seeking assurance from Greater London Reserve Forces and Cadets Association (the landlord) that the building is compliant with the appropriate regulations; holding adequate insurance; operating a resilient remote-desktop capability through a third-party supplier and having access to office locations across the UK. The core headquarters staff are now well set up to work from home and we are confident from experience that the charity can continue to operate through unexpected disruption.

• Staff Risk . The success of ACCT UK’s programme of work depends on well-motivated staff committed to the cause of ACCT UK. The Trustees seek to ensure this by: having appropriate recruitment, complaints and HR policies and ensuring they are adhered to; a system of annual staff appraisal; holding appropriate insurance; ensuring the policies are kept up to date and are easily accessible to all staff and managers; and obtaining appropriate specialist HR advice for individual issues.

• Governance Risk . The success of ACCT UK’s programme of work depends on good governance. The trustees seek to ensure this by: having appropriate recruitment and appointment processes for trustees and senior leaders; conducting regular reviews of the board’s structure, competence and diversity to ensure that it is refreshed; monitoring and adopting best practice recommendations from the charity regulators; and holding appropriate insurance to protect trustees. Additionally, the Nominations & Governance Committee reviews the performance of trustees standing for re-election prior to the end of their three-year terms (we comment on this final point below in our report on the appointment of trustees).

Reserves policy and going concern

The Reserves Policy defines the target level of reserves as an amount sufficient to maintain ongoing operations and programmes for three to six months. The calculation of average monthly operating costs includes all recurring, predictable expenses such as salaries, office costs, expenses, marketing, insurance and charity projects including bursaries and grants. Depreciation, in-kind, and other non-cash expenses are not included in the calculation. The calculation of average monthly expenses also excludes one-time or unusual, capital purchases. The amount of the reserve fund target minimum will be calculated each year after approval of the annual budget, reported to the Finance and General Purposes Committee and included in the regular financial reports.

In making this policy the trustees have chosen to designate a portion of its unrestricted, long-term investments as funds invested to generate income for the charity (known as the “Income Generation fund"). They are therefore excluded from the reserves calculation. Funds invested for this purpose generated an income of £90,891 (2025: £97,218).

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For the Year Ended 31 March 2026

Free reserves were £1,660,912 (2025: £983,661). The reserves position has improved during the year and is now above the minimum reserve level and within the range set by the trustees of between £1,609,839 and £3,219,658 (2025: £1,671,154 to £3,234,308). The trustees note that the designated funds, including the Income Generation fund, totalling £4,098,983, and the fixed asset investments held within the general fund, totalling £99,113, could be released to improve the free reserves position and are available at short notice.

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Fundraising

As previously reported, the charity began active fundraising in 2023, with a focus on two main audiences from which to raise funds:

• Externally, corporate or individual benefactors who will make donations to ACCT UK that will support the ACF generally or support specific activities or projects.

• Internally, the audience is the ACF, as its cadets and volunteers are ACCT UK’s beneficiaries. The ACF collectively is brilliant at raising funds for charities, so we ask the ACF to use this great talent to also raise funds for its own charity.

The majority of funds raised from our ACF audience is through ACCT UK’s ‘Cadet Challenge’. This runs annually, and 2025 was the third year. There was again a growth in numbers participating, with cadets and volunteers from 37 ACF Counties taking part (32 in 2024, 21 in 2023) raising over £65,000.

Externally we worked with companies looking to support the cadet forces as part of their membership of the Defence Employer Recognition Scheme. Whilst support has been received from several companies, these initial donations have been small in scale and reflect the reality that it takes time (over several years) to build these relationships.

We were again grateful to be the main recipient of the fundraising efforts of Army Cadet Ambassador Jordan Wylie MBE. Building on the success of his previous fundraising challenges, in 2025-26 he undertook his ‘Antarctic Odyssey’ where he climbed previously uncharted mountains in Antarctica and trekked to the South Pole. Over the two challenges, Jordan has raised over £90,000 for the charity and we look forward to supporting him in his next challenge done in support of ACCT UK – Xtreme Everest. Jordan will attempt to travel from the lowest point on Earth at the Dead Sea to the highest point on Earth, Mount Everest. He will also take a team of Army Cadets to join him for part of the journey, which will be to a once-in-a-lifetime trek to Everest Base Camp as part of the expedition.

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For the Year Ended 31 March 2026

We will continue to seek benefactors who might make significant donations to the charity; we hope and expect that supporting a wonderful youth movement (the ACF) through ACCT UK would appeal to many potential donors. We will work with companies looking to support the cadet forces as part of their membership of the Defence Employer Recognition Scheme, as well as seeking funding from trusts and foundations for specific projects that we have identified as requiring support in areas such as music, first aid, adventurous training and equipment.

The charity is committed to ethical fundraising practices and complies with recognised standards including the Fundraising Regulator’s Code of Fundraising Practice. The charity does not use external professional fundraising or commercial participators. There were no instances of non-compliance with applicable codes and the charity did not receive any complaints relating to its fundraising activities. The trustees regularly review our fundraising practices, including protecting vulnerable people and other members of the public.

ACCT UK is grateful for the continued support from many corporate partners and trusts and foundations including:

Active Traffic Management IBM AM Specialists Intelligence Corps Association Ammo & Co Masonic Charitable Foundation Aspire Defence P4 Limited Axiah Resilience Planned Link Limited BAE Systems Rothley Trust CBRE Royal Mail Community Ciena TC Facilities Management Citibank UK Stantec Consulting Community Foundation serving Tyne & Ulysses Trust Wear and Northumberland VTA Recruitment Dakin Security Services Waterman Aspen Edinburgh Trust No. 2 The Worshipful Company of Actuaries Google WPS Corporate Horiba-Mira

Plans for the future

In March 2025, the trustees reviewed their 5-Year Vision 2022-2027 and replaced it with a refreshed vision to cover the years 2025-2030. The changes were largely evolutionary reflecting that the Charity itself is still evolving following its rename and rebrand in 2021/2022 and that action towards achieving the elements of the 5-Year Vision are broadly work in progress.

ACCT UK 5-Year Vision 2025-2030

Character, leadership, and good citizenship

Our vision is a future where the ACF is empowered to develop character, leadership, and good citizenship in young people across the UK. ACCT UK aims to be recognised as the principal charitable partner of ACF, known for our commitment and contribution. By supporting the ACF, ACCT UK nurtures engaged, responsible, and civic-minded individuals who positively contribute to their communities and society.

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For the Year Ended 31 March 2026

We will do this through the following lines of activity:

1 Engaging Our Internal Audience

• Develop and present a clearer identity for ACCT UK to internal audiences. Utilise all channels and means to ensure that all cadets and adult volunteers of the ACF are aware that ACCT UK is their charity.

• 2 Building a National Profile Develop and present a clearer identity for ACCT UK as a charity and its charitable work. Build and leverage relationships to raise ACCT UK's national profile with potential supporters.

3 Working with the Army Continue the constructive working relationship that ACCT UK enjoys with the Army in support of the ACF.

4 Supporting our Beneficiaries

• Increase and sustain our charitable output in support of our beneficiaries – cadets and adult volunteers alike – but with continued emphasis on adult volunteers, as without them there would be no ACF.

• 5 Advocating for Service Continue to actively publicly advocate the benefits of Service as a means of nurturing engaged responsible and civic-minded individuals… and in so doing, celebrate the achievements of cadets and adult volunteers.

6 Evolving

Evolve and modernise the charity as an institution to meet the changing social, economic, legal, regulatory and best practice requirements.

7 Celebrating Our Centenary

Celebrate our long partnership with and support for ACF by planning to mark ACCT UK’s Centenary in 2030 and to seek Royal involvement.

Structure, governance and management

ACCT UK is a registered charity and a company limited by guarantee, not having a share capital. The entity was established in 1930 in response to the loss of government support to the Cadet Force. It was incorporated on 26 October 1934 and registered as a charity with the Charity Commission for England and Wales on 24 September 1962 and the Office of the Scottish Charity Regulator on 10 November 2007. It is governed by its memorandum and articles of association which were most recently adopted on 25 March 2023.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 9 to the accounts.

The Chief Executive of the charity is Murdo Urquhart, who heads a senior leadership team comprising Richard Walton (Deputy Chief Executive), Faye Meakin (Director of Development) and Matthew Brookes

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For the Year Ended 31 March 2026 (Director of Finance), with an additional 53 full time equivalent members of staff who carry out work for ACCT UK.

The trustees subscribe to the principles of the Charity Governance Code. The trustees believe in it and are committed to maintaining an inclusive and diverse Board; using a transparent recruitment process designed to encourage eligible applications from applicants with a wider range of backgrounds.

The Finance and General Purposes Committee agree the annual budget. The senior trustees (Chair, Vice Chair, and Treasurer) are consulted by the Chief Executive on a regular basis and on all matters that are considered by him to be strategic, novel or contentious. These consultations are largely conducted by telephone and e-mail or at informal “management board” meetings.

The ACCT UK Board of Trustees meets three times a year in winter/spring, summer and autumn. Amongst other papers the Board receives:

• A report from the Finance and General Purposes Committee; for the summer meeting this report incorporates the audited financial statements of the charity. The audited financial statements are agreed and signed off at this meeting.

• Reports from all other sub-committees.

• An updated register of the diverse risks being managed by the charity.

• The autumn meeting includes a separate and more informal Trustees’ Away Day to conduct long term strategic thinking.

The ACCT UK Board has seven sub committees. They are the:

• Finance and General Purposes Committee.

• Joint HR and Remuneration Committee[1] .

• Nominations and Governance Committee.

• Joint Audit and Investments Committee[2] .

• ACCT UK Northern Ireland Branch Committee.

• ACCT UK Scotland Branch Committee.

• ACCT UK Wales Branch Committee.

Appointment of trustees

Trustees are appointed for a period of three years to ensure regular turnover of trustees. Where a successor cannot be found, or where a particular skill or attribute is needed, a trustee could stand for reelection and there is no restriction in the articles on the number of times an individual can stand for reelection.

Trustees are private individuals who are recruited to bring particular skills or lived experience to the board in order to improve the ability of the trustees to govern the charity.

The board seeks to balance members with lived experience of the ACF and members with specialist skills. Careful thought goes into ensuring that prospective members are diverse, not only in the commonly accepted sense of gender, ethnicity etc but also collectively, as it is important that the general trustees in particular bring diversity in two respects: geographically, the Board must always have representation from

1 which is a joint sub-committee of the Combined Cadet Force Association (CCFA) and ACCT UK

2 which is a joint sub-committee of the Combined Cadet Force Association (CCFA) and ACCT UK

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For the Year Ended 31 March 2026

the devolved nations and, ideally, have representation from those parts of England well away from London and the South East; in terms of rank and experience in the ACF, the ideal is to have a fair balance of senior and junior volunteers from the ACF who each bring different experience to the board.

Whether recruiting individuals with specialist knowledge, skills and experience to help the board mitigate risks or recruiting volunteers from within the ACF to represent the beneficiary community, the same recruitment process is used. A vacancy is advertised as widely as possible and applications invited and then applicants who fulfil the criteria are interviewed by the Nominations and Governance Committee. If a new trustee is appointed during the year, they are co-opted by the trustees and then formally elected at the next AGM for a period of three years.

Election of trustees at the March 2026 AGM

The trustees are well aware of the Charity Commission’s best practice guidance “Finding and appointing new trustees (CC30)”, understanding and believing why it is essential that boards of trustees are refreshed. ACCT UK’s trustees are therefore committed to acting on this principle. Noting both this principle and the Governance risk described above, at the AGM in March 2026: one trustee stood down after an exceptional and hugely valuable 18 years’ service but will continue to provide invaluable investment expertise as a coopted member of the Joint Investment and Audit Committee (Ruadhri Duncan), two trustees stood for reelection (Jemma Ralph for a third term and Duncan Capps for a second term), and two new trustees were elected (Charlotte Shyllon and Simon Harrison). The planning for this succession was initiated by the Nominations & Governance Committee, its recommendations being ratified by the full board and voted in by members at the AGM in March 2026.

Related parties and relationships with other organisations

ACCT UK has relationships with all ACF Counties and adult volunteers from across the UK. The trustees ensure that they keep good records of who is associated with which ACF County and absent themselves from any decision making that could give a real or perceived benefit to their ACF County (most commonly the award of a grant). Such related party transactions are disclosed in note 11 to the accounts.

ACCT UK shares offices and staff with an independent sister charity, the Combined Cadet Force Association (“CCFA”) - charity number 1170994. The two charities employ staff on joint contracts which are managed through ACCT UK and the staff costs relating to CCFA are recharged to that charity.

Remuneration policy for key management personnel

The Trustees consider that they together with the Chief Executive, the Deputy Chief Executive, the Director of Development and the Director of Finance comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis.

All employees are jointly contracted by ACCT UK with our sister charity the CCFA. Trustees from both the CCFA and ACCT UK sit on the Joint HR & Remunerations Committee to ensure that they exercise their responsibilities for oversight of the remuneration of their employees. This committee is tasked each year to ensure that all salaries, including those of the senior officers of the charity, are commensurate with the joint remuneration policy and periodically review salary levels against appropriate benchmarks.

15

For the Year Ended 31 March 2026

Statement of responsibilities of the trustees

The trustees (who are also directors of ACCT UK, for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the 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 UK Accounting Standards and statements of recommended practice have been followed

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• There is no relevant audit information of which the charitable company’s auditor is unaware

• • The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2026 was 167 (2025: 186). The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to act in that capacity.

The trustees’ annual report has been approved by the trustees on 6 August 2026 and signed on their behalf by

Duncan Capps Chair

16

For the Year Ended 31 March 2026

Independent auditor’s report to the members of Army Cadet Charitable Trust UK

Opinion

We have audited the financial statements of Army Cadet Charitable Trust UK (the ‘charitable company’) for the year ended 31 March 2026 which comprise the statement of financial activities, balance sheet, statement of cash flows 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 FRS 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 charitable company’s affairs as at 31 March 2026 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended

• Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice

• Have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended)

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 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 Army Cadet Charitable Trust UK’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do

17

For the Year Ended 31 March 2026

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 statements 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• The trustees’ annual report has been prepared in accordance with applicable legal

• requirements

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

• We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

• Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• The financial statements are not in agreement with the accounting records and returns; or

• Certain disclosures of trustees’ remuneration specified by law are not made; or

• We have not received all the information and explanations we require for our audit; or

• The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the 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 financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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For the Year Ended 31 March 2026

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

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 includes 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• We enquired of management and the finance and general purposes committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:

• Identifying, evaluating, and complying with laws and regulations 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 related to fraud or non-compliance with laws and regulations.

• We inspected the minutes of meetings of those charged with governance.

• We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.

• We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.

• We reviewed any reports made to regulators.

• We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

• We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

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For the Year Ended 31 March 2026

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Coyle (Senior statutory auditor)

Date: 10 August 2026

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

20

The Army Cadet Charitable Trust UK

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2026

For the year ended 31 March 2026	For the year ended 31 March 2026
		Restricted £ 173,570 3,000 - 6,619,789	2026 Total £ 311,401 3,000 90,891 8,023,416		2026 Total £		Restricted £ 127,268 - - 4,801,869	2025 Total £ 127,631 39,116 97,218 5,698,587	2025 Total £
Unrestricted Note £ Income from: Donations and grants 2 1,403,627 Charitable activities Supporting cadets and volunteers 3 137,831 Other trading activities 4 - Investments 5 90,891						Unrestricted £
						363 39,116 97,218 896,718
Total income	1,632,349	6,796,359	8,428,708			1,033,415	4,929,137	5,962,552
		4,058,543 2,094,822 -	4,877,761 2,334,590 84,377			8,204	2,834,718 1,851,927 -	3,146,839 2,634,252 8,204
Expenditure on: Raising funds 6 Charitable activities Supporting ACF Counties, Regions and 6 Supporting cadets and volunteers 6	84,377 819,218 239,768
				4,877,761 2,334,590		312,121 782,325
Total expenditure Net income/(expenditure) before net gains on investments Net gains on investments 14 Net income for the year 8 Transfers between funds Total funds carried forward Net movement in funds Reconciliation of funds: Total funds brought forward	1,143,364	6,153,365	7,296,729			1,102,650	4,686,645	5,789,295
	488,985 433,882	642,994 86,842	1,131,979 520,724			(69,235) 173,748	242,492 30,857	173,257 204,605
	922,868 (7,254)	729,836 7,254	1,652,703 -			104,513 (28,288)	273,349 28,288	377,862 -
	915,613 5,086,014	737,090 1,636,384	1,652,703 6,722,398			76,225 5,009,789	301,637 1,334,747	377,862 6,344,536
	6,001,627	2,373,474	8,375,101			5,086,014	1,636,384	6,722,398

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 19 to the financial statements.

21

The Army Cadet Charitable Trust UK

Company no. 00293432

Balance sheet

As at 31 March 2026

As at 31 March 2026
Fixed assets: Tangible assets Investments Note 13 14a	£	2026 £	2026 £	£	247,171 3,612,711 3,859,882 2,862,516 6,722,398 1,636,384 5,086,014 6,722,398 2025 £	2025 £
		142,622 3,955,048
		4,097,670 4,277,432
Current assets: Short term investments 14b Stock Debtors 15 Cash at bank and in hand	4,104,773 26,119 335,389 406,361
				4,556,355 15,680 165,256 521,555
Liabilities: Creditors: amounts falling due within one year 16	4,872,642 (595,211)			5,258,846 (2,396,330)
Net current assets Total net assets
		8,375,101
		2,373,474 6,001,627
The funds of the charity: 19 Restricted income funds Unrestricted income funds: Designated funds General funds	4,098,983 1,902,644
				3,681,818 1,404,196
Total unrestricted funds Total charity funds
		8,375,101

Approved by the trustees on 6 August 2026 and signed on their behalf by

Sarah Dickson Treasurer

22

The Army Cadet Charitable Trust UK

Statement of cash flows

For the year ended 31 March 2026

For the year ended 31 March 2026
Note 2026 £ £ 86,990 (520,724) (90,891) 45,607 (170,134) (1,801,119) (10,439) 90,891 (28,048) 5,099,078 (5,823,158) At 1 April 2025 £ Cash flows £ 1,652,703 (808,007) Net cash used in investing activities (661,237) Change in cash and cash equivalents in the year (1,469,243) Cash and cash equivalents at the beginning of the year 1,878,780 Cash and cash equivalents at the end of the year 409,537 Analysis of cash and cash equivalents Total cash and cash equivalents 1,878,780 (1,469,243) Cash flows from operating activities Net income for the reporting period (as per the statement of financial activities) Depreciation charges (Gains)/losses on investments Dividends and interest from investments Loss on the disposal of fixed assets (Increase)/decrease in debtors (Decrease)/increase in creditors (Increase)/decrease in stock Net cash (used in) / provided by operating activities Cash flows from investing activities: Dividends and interest from investments Purchase of fixed assets Proceeds from sale of investments Purchase of investments Cash at bank and in hand Cash held by investment managers 521,555 1,357,225 (115,194) (1,354,049)	Note 2026 £ £					2025 £ £ 94,309 (204,605) (97,218) - (92,939) 1,767,804 1,868 97,218 (112,869) 3,800,385 (4,392,333) Other non- cash changes £ At 31 March 2026 £ 377,862 1,847,081 (607,599) 1,239,482 639,298 1,878,780 - - - 409,537 406,361 3,176	2025 £ £
		1,652,703		(808,007) (661,237)				1,847,081 (607,599)
		86,990 (520,724) (90,891) 45,607 (170,134) (1,801,119) (10,439)				94,309 (204,605) (97,218) - (92,939) 1,767,804 1,868
		90,891 (28,048) 5,099,078 (5,823,158)				97,218 (112,869) 3,800,385 (4,392,333)
				(1,469,243) 1,878,780				1,239,482 639,298
				409,537				1,878,780
				Cash flows £ (115,194) (1,354,049)				At 31 March 2026 £ 406,361 3,176
						Other non- cash changes £
		At 1 April 2025 £			Cash flows £
		521,555 1,357,225				- -
			521,555 1,357,225
		1,878,780		(1,469,243)		-		409,537

23

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

1 Accounting policies

a) Statutory information

The Army Cadet Charitable Trust UK is a charitable company limited by guarantee and is incorporated in England and Wales. It is registered with the Charity Commission for England and Wales and with the Office of the Scottish Charity Regulator.

The registered office address and principal place of business is Holderness House, 51-61 Clifton Street, London, EC2A 4DW.

b) Basis of preparation

The financial statements have been prepared 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 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfuilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfulled in the reporting period.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

24

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

• 1 Accounting policies (continued)

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

• g) Interest and dividends receivable

Interest and dividends on funds held on deposit or in the investment portfolio is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank or investment manager.

• h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

• i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

• Costs of raising funds relate to the costs incurred by the charity in managing its investment portfolio.

• Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

• j) Grants payable

Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either 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 that any condition attaching to the grant is outside of the control of the charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

• k) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is divided on a proportional basis.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

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The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

1 Accounting policies (continued)

m) Tangible fixed assets

During the year the Company revised its capitalisation threshold for tangible fixed assets. Previously, items of expenditure exceeding £200 were capitalised. With effect from 1 April 2025, this threshold has been increased to £1,500. Any items previously capitalised but with a cost below £1,500 have been treated as disposals. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

• Leasehold improvements 4 years

• Fixtures and fittings 4 years  Computer and Camera equipment 3 - 4 years

n) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments. These funds can be accessed with up to 5 days notice. Short term investments includes cash balances that are invested in a short term bond account with a maturity date of between 3 and 5 days.

o) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

p) Cash at bank and cash in hand includes cash held in various bank accounts at the year end.

q) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

r) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

s) Pensions

The Trust makes contributions to defined contribution pension schemes on behalf of its employees. Contributions are charged to the statement of financial activities in the periods to which they relate. The Trust has no liability under the scheme other than for the payment of those contributions.

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The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

• 2 Income from donations and grants

the year ended 31 March 2026 Income from donations and grants
Ministry of Defence grants Other Grants Donations Donated services	2026 2025 Unrestricted Restricted Total Unrestricted Restricted Total £ £ £ £ £ £ 1,185,498 6,478,093 7,663,591 700,917 4,675,869 5,376,786 14,310 112,514 126,824 - 126,000 126,000 174,419 29,182 203,601 167,801 - 167,801 29,400 - 29,400 28,000 - 28,000
	1,403,627 6,619,789 8,023,416 896,718 4,801,869 5,698,587

The Ministry of Defence makes an annual Grant in Aid to enable the charity to operate in support of the Army Cadets. It also makes grants for specified purposes, which are reflected in the Army Cadet Marketing, Army Cadet Activity, Cadet Digital Services and Adventure Training restricted funds.

The Marine Society and Sea Cadets (MSSC) made donations of £126,824 (2025: £126,000) this year to support the Cadet Digital Services project.

The Reserve Forces and Cadets Association for Greater London kindly donates office space to the ACCT UK. This is recognised at the estimated cost of securing suitable alternative office space.

3 Income from charitable activities

Income from charitable activities
Supporting cadets and volunteers Personal contributions Insurance Subscriptions Total	2026 2025 Unrestricted Restricted Total Unrestricted Restricted Total £ £ £ £ £ £ - 173,570 173,570 - 127,268 127,268 137,363 - 137,363 - - - 468 - 468 363 - 363
	137,831 173,570 311,401 363 127,268 127,631

Personal contributions relate to amounts paid by or on behalf of cadets and adult volunteers to help fund the cost of Duke of Edinburgh Award, adventurous training, cadet camp and other activities provided by the charity.

Insurance income reflects a one-off adjustment to recognise a surplus from the current and prior years due to insurance receipts exceeding the direct costs of the associated insurance policies. This surplus funds the staff and other costs incurred by the charity to provide this activity over the same period.

4 Income from other trading activities

Income from other trading activities
Total Income from investments Dividends and interest on Investments Events and awards Merchandise and other sales	Unrestricted £ - -	Restricted £		2026 Total £		Unrestricted £ 36,606 2,510	Restricted £ - - -		2025 Total £ 36,606 2,510
			- 3,000	- 3,000	- 3,000
	-	3,000		3,000		39,116			39,116 2025 Total £ 97,218
	Unrestricted £ 90,891	Restricted £ -		2026 Total £ 90,891		Unrestricted £ 97,218	Restricted £ -
	90,891	-		90,891		97,218	-		97,218

• 5 Income from investments

27

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

6a Analysis of expenditure (current year)

Staff costs (Note 9) Grant making (Note 7) Direct activity costs Cadet Digital Services Marketing and advertising Audit fees Professional Fees Trustee expenses Investment manager fees Office expenses Travel Depreciation Other Support costs Governance costs Total expenditure 2026 Total expenditure 2025	Raising funds £	Raising funds £		Charitable activities	Charitable activities	Governance costs £	Support costs £	Support costs £	2026 Total £	2025 Total £
				Supporting ACF Counties £	Supporting cadets and volunteers £
		60,015 - - - - - - - 8,722 - - - 15,640		1,696,232 1,134,836 42,921 754,004 888,778 - - - - - - - -	1,152,843 150,044 1,009,016 - - - - - - - - - 22,686	- - - - - 17,730 26,768 3,100 - - - - -		- - - - 7,662 - 21,280 - - 119,456 23,768 86,988 54,238	2,909,090 1,284,880 1,051,937 754,004 896,440 17,730 48,048 3,100 8,722 119,456 23,768 86,988 92,565	2,177,419 216,145 948,721 1,233,911 849,681 20,640 58,954 2,490 8,204 122,299 18,152 94,311 38,368
	84,377 - -			4,516,771 313,392 47,598 4,877,761 3,146,839	2,334,590 - -	47,598 - (47,598)	313,392 (313,392) -		7,296,729 - -	5,789,295 - - 5,789,295
	84,377				2,334,590	-			7,296,729
	8,204				2,634,252	-	-

28

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

6b Analysis of expenditure (prior year)

Charitable activities

				Charitable activities	Charitable activities	Charitable activities	Charitable activities	Charitable activities	Charitable activities
Support costs Governance costs Total expenditure 2025 Staff costs (Note 9) Grant making (Note 7) Direct activity costs Cadet Digital Services Marketing and advertising Audit fees Professional Fees Trustee expenses Investment manager fees Office expenses Travel Depreciation Other	Raising funds £		Supporting ACF Counties £	Supporting ACF Counties £	Supporting cadets and volunteers £	Governance costs £		Support costs £ - - - - - - 11,490 - - 122,299 18,152 94,311 38,368 284,620 (284,620) - -	2025 Total £ 2,177,419 216,145 948,721 1,233,911 849,681 20,640 58,954 2,490 8,204 122,299 18,152 94,311 38,368 5,789,295 - - 5,789,295
		- - - - - - - - 8,204 - - - -	497,210 94,537 390,387 1,233,911 849,681 - - - - - - - -		1,680,209 121,608 558,334 - - - - - - - - - -	2 4	- - - - - 0,640 7,464 2,490 - - - - -
	8,204 - -		3,065,726 64,992 16,121 3,146,839		2,360,151 219,628 54,473	70,594 - (70,594) -
	8,204				2,634,252

29

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

7 Grant making

ACCT UK provides financial grants to ACF Counties, adult volunteers and cadets for a wide variety of individual development needs including provision of sports equipment and help to attend courses and expeditions.

A list of the ACF Counties and Regions that have received grants in the year from the ACCT UK is at note 21.

Supporting Individual Cadets and Volunteers General Grants Matthew Bacon Bursary Cadet Sport fund Cadet Music fund Duke of Edinburgh Award fund Qualifications Fund National Commemorative Events fund Adventurous Training fund Grants in Wales Grants in Scotland Grants in Northern Ireland Wiltshire ACF fund London fund Glasgow & Lanarkshire fund At the end of the year Supporting ACF Counties, Regions and Training Centres General Grants Duke of Edinburgh Award fund Welsh fund Cadet Music fund Scottish fund Northumbria ACF fund Wiltshire ACF fund Grenadier fund Cadet Sport fund Army Cadet Activities fund South East Essex fund Essex AT fund Oxfordshire fund Greater Manchester fund Shropshire fund At the end of the year	2026 No of awards	2026 No of awards	2026 No of awards	2025 No of awards	2025 No of awards	2025 No of awards	2026 £ 16,056 2,440 - - - 1,250 866 - - 1,102,503 5,208 500 2,973 2,000 1,040	2026 £	2025 £	2025 £	2025 £
			4 2 - - - 1 1 - - 1 2 1 2 1 1	7 51 3 3 4 1 1 1 1 - - - - - -		7 51 3 3 4 1 1 1 1 - - - - - -				13,657 50,357 5,676 14,805 4,000 1,250 806 382 3,604 - - - - - -
			16	72			1,134,836			94,537
	26 7 1 1 3 44 4 - - - 2 3 1 1			24 - - - 22 12 2 - 4 - 1 1 1 -			83,834 7,120 500 6,000 2,545 24,390 9,962 - - - 1,500 9,668 3,000 1,525		84,663 1,882 - - 9,988 7,797 3,320 - 9,838 - 1,120 1,000 2,000 -
	93			67			150,044		121,608

At the end of the year

The grant of £1,102,503 from the Army Cadet Activities fund related to air rifles and accessories purchased by the charity and subsequently distributed to 64 ACF Counties, Regions and Training Centres.

This is stated after charging / (crediting):

This is stated after charging / (crediting):
Depreciation Operating lease rentals paid: Equipment Auditor's remuneration (excluding VAT): Audit - current year	2026 2025 £ £
	86,990 94,309 - 4,987 14,775 13,500

8 Net income / (expenditure) for the year

30

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

9 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Salaries and wages Redundancy and termination costs Social security costs Employer’s contribution to defined contribution pension schemes	2026 2025 £ £
	2,396,667 1,820,311 - 26,323 312,143 175,859 200,280 154,926
	2,909,090 2,177,419

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

insurance) during the year between:
£60,000 - £69,999 £70,000 - £79,999 £80,000 - £89,999 £90,000 - £99,999 £120,000 - £129,999	2026 2025 No. No.
	2 - - - 1 - 1 - 1 -

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprises the trustees, the Chief Executive, the Deputy Chief Executive, the Director of Development and the Director of Finance. The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £196,723 (2025: £160,883). This increase from the prior year is primarily due to the recruitment of the part-time Director of Finance in September 2025.

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2025: £nil). No charity trustee received payment for professional or other services supplied to the charity (2025: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £3,100 (2024: £2,490) incurred by 6 (2025: 4) individuals relating to attendance at meetings of the trustees.

10 Staff numbers

The full time equivalent staff carrying out work for ACCT UK during the year was 57 (2025: 53).

Because the ACCT UK shares its back office functions with the Combined Cadet Force Association it has chosen to employ all staff across both charities on joint contracts. This means that the charities gain flexibility and economies in how staff support the charities. However this joint contract arrangement requires ACCT UK to disclose the average number of employees for the two charities combined. This is taken as a head count based on number of staff employed. During the year this was 92 (2025: 82).

11 Related party transactions

On occasion grants are awarded to ACF Counties with which trustees are adult volunteers. Decisions about who to award funds to are made in accordance with the grants policy and formally delegated authority. On the rare occasion a trustee or staff member's ACF County has applied for a grant, that individual will not be a party to the discussion of that application. If they normally have a part to play in the grants decision making process, they will ensure that they are not involved in either the discussion or the decision.

There were nil (2025: nil) related party transactions of this type relating to nil (2025: nil) trustees totalling £nil (2025: £nil) during the year.

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

12 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

31

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

13 Tangible fixed assets

he year ended 31 March 2026 Tangible fixed assets
At the start of the year Additions in year Disposals in year Depreciation At the start of the year Charge for the year Eliminated on disposal Cost At the end of the year At the end of the year Net book value At the end of the year At the start of the year	162,833 - - Leasehold Improvements £			62,214 - - Fixtures and fittings £	262,387 28,048 (60,936) Computer and Camera Equipment £	487,434 28,048 (60,936) Total £
		162,833 - -
	162,833			62,214	229,499	454,546
	42,510 40,708 -			54,471 2,075 -	143,282 44,207 (15,329)	240,263 86,990 (15,329)
			42,510 40,708 -
	83,218			56,546	172,160	311,924
	79,615			5,668	57,339	142,622
	120,323			7,743	119,105	247,171

All of the above assets were purchased with unrestricted funding and are used for charitable purposes.

14a Listed investments

Listed investments
Fair value at the start of the year Additions at cost Disposal proceeds Net gain/(loss) on change in fair value UK Common investment funds Cash Cash held by investment broker pending reinvestment Fair value at the end of the year Investments comprise the following:	2026 2025 £ £
	3,606,552 3,569,975 - - (70) - 348,180 36,577
	3,954,662 3,606,552 386 6,159
	3,955,048 3,612,711
	2026 2025 £ £
	3,954,662 3,606,552 386 6,159
	3,955,048 3,612,711

32

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

14b	Short term investments	Short term investments							2026				2025
									£				£
	Fair Value at the start of		the year				3,205,289				2,445,313
	Additions at cost						5,823,158				4,392,333
	Disposal Proceeds						(5,099,008)				(3,800,385)
	Net gain/(loss) on change in			fair value			172,544				168,028
							4,101,983				3,205,289
	Cash Held by Investment		Broker pending reinvestment						2,790		1,351,066
	Fair Value at end of the year						4,104,773				4,556,355
	Investments comprise the following								2026				2025
									£				£
	UK Common investment		funds				4,101,983				3,205,289
	Cash								2,790		1,351,066
	Fair Value at the end of the year						4,104,773				4,556,355
15	Debtors
									2026				2025
									£				£
	Trade debtors								-				2,547
	Other debtors						138,603						1,115
	Prepayments						196,786				161,594
							335,389				165,256
16	Creditors: amounts falling due				within one year
									2026				2025
									£				£
	Trade creditors						337,950				253,534
	Taxation and social security						108,796				66,978
	Pension contributions						35,772				34,279
	Other creditors								-				553
	Accruals						35,965				75,461
	Deferred income (note 17)						76,728				1,965,525
							595,211				2,396,330

17 Deferred income

Deferred income comprises of MOD income received in advance for next year and Insurance income deferred at year end

Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at the end of the year	2026 £ 2025 £	2025 £
	1,965,525 150,760 (1,965,525) (150,760) 76,728 1,965,525
	76,728 1,965,525

33

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

18a Analysis of net assets between funds (current year)

For the year ended 31 March 2026 18a Analysis of net assets between funds (current year)
Tangible fixed assets Fixed asset investments Net current assets Net assets at 31 March 2026	General unrestricted £			Designated £		- - 2,373,474 Restricted £	142,619 3,955,048 4,277,435 Total funds £
		142,619 99,113 1,660,912		- 3,855,935 243,048	- 3,855,935 243,048
	1,902,644			4,098,983		2,373,474	8,375,101
18b Analysis of net assets between funds (prior year)	General unrestricted £			Designated £		Restricted £	Total funds £
Tangible fixed assets Fixed asset investments Net current assets Net assets at 31 March 2025						- - 1,636,384	247,171 3,612,711 2,862,516
			247,171 173,364 983,661	- 3,439,347 242,471	- 3,439,347 242,471
	1,404,196			3,681,818		1,636,384	6,722,398

19a Movements in funds (current year)

Movements in funds (current year)
Restricted funds: Army Cadet Marketing fund Army Cadet Activity fund Cadet Digital Services fund Cadet Music fund Cadet Sport fund Duke of Edinburgh Award fund Leeds fund Matthew Bacon Bursary fund South East Essex fund Adventure Training fund National Commemorative Events fund Oxfordshire fund Wiltshire ACF Northumbria ACF Essex AT Fund London Fund Qualifications fund Shropshire Fund Disadvantaged Youth Fund Glasgow & Lanarkshire Fund Greater Manchester Fund Total restricted funds Total designated funds General funds Total unrestricted funds Total funds Unrestricted funds: Designated funds: - Income generation fund - Northern Irish fund - Scottish fund - Welsh fund - Wiltshire fund	At 1 April 2025 £ 308,675 463,537 637,378 58,247 12,109 16,512 275 1,091 16,379 - 17,180 2,250 7,078 - 500 3,000 92,173 - - - -		Income & gains £ 1,257,360 2,981,714 1,982,224 20,883 - 25,639 - 2,273 - 594,754 500 - 6,407 1,250 1,107 3,000 - 1,376 2,464 250 2,000		Expenditure & losses £ (1,277,481) (2,462,595) (1,726,282) (6,936) (500) (3,565) - (7,120) (5,208) (606,504) (9,962) (2,973) (10,534) (1,250) (500) (3,000) (24,390) (1,040) - (1,525) (2,000)	Transfers £ - (11,750) - - - - - 3,756 1,500 11,750 - 723 - - - - - - - 1,275 -	At 31 March 2026 £ 288,554 970,906 893,320 72,194 11,609 38,586 275 - 12,671 - 7,718 - 2,951 - 1,107 3,000 67,783 336 2,464 - -
	1,636,384		6,883,201		(6,153,365)	7,254	2,373,474
					(22) (1,858) (13,686) (696) -	- - - - -	3,855,935 41,791 134,978 64,399 1,880
		3,439,347 35,990 139,586 65,015 1,880	416,610 7,659 9,079 80 -	416,610 7,659 9,079 80 -
	3,681,818		433,428		(16,263)	-	4,098,983
	1,404,196		1,632,803		(1,127,101)	(7,254)	1,902,644
	5,086,014		2,066,231		(1,143,364)	(7,254)	6,001,627
	6,722,398		8,949,432		(7,296,729)	-	8,375,101

34

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

19b Movements in funds (prior year)

he year ended 31 March 2026 Movements in funds (prior year)
Unrestricted funds: Designated funds: - Income generation fund - Northern Irish fund - Scottish fund - Welsh fund - Wiltshire fund Restricted funds: Army Cadet Marketing fund Army Cadet Activity fund Cadet Digital Services fund Cadet Music fund Cadet Sport fund Duke of Edinburgh Award fund Grenadier fund Leeds fund Matthew Bacon Bursary fund South East Essex fund Adventure Training fund National Commemorative Events fund Oxfordshire fund Wiltshire ACF Northumbria ACF Essex AT Fund London Fund Qualifications fund Total restricted funds Total designated funds General funds Total unrestricted funds Total funds	At 1 April 2024 £ 337,761 220,883 537,559 57,529 20,050 56,186 50 275 1,353 16,379 66,222 20,500 - - - - - -		Income & gains £ 1,122,743 1,673,496 1,782,708 17,077 - 45,585 - - 1,620 - 298,631 - 2,500 8,884 1,250 500 5,000 -		Expenditure & losses £ (1,151,829) (1,330,022) (1,682,889) (16,359) (7,609) (85,259) (382) - (1,882) - (393,141) (3,320) (250) (1,806) (1,250) - (2,000) (8,647)	Transfers £ - (100,820) - - (332) - 332 - - - 28,288 - - - - - - 100,820	At 31 March 2025 £ 308,675 463,537 637,378 58,247 12,109 16,512 - 275 1,091 16,379 - 17,180 2,250 7,078 - 500 3,000 92,173
	1,334,747		4,959,994		(4,686,645)	28,288	1,636,384
					(6,160) (1,332) (18,244) (30,231) (3,120)	95,827 835 4,075 1,652 -	3,439,347 35,990 139,586 65,015 1,880
		3,349,680 31,114 147,812 73,594 5,000	- 5,373 5,943 20,000 -	- 5,373 5,943 20,000 -
	3,607,200		31,316		(59,087)	102,389	3,681,818
	1,402,589		1,175,847		(1,043,563)	(130,677)	1,404,196
	5,009,789		1,207,163		(1,102,650)	(28,288)	5,086,014
	6,344,536		6,167,157		(5,789,295)	-	6,722,398

Purposes of restricted funds

Army Cadet Marketing fund - These funds are granted to the ACCT UK in order to promote the Army Cadets and to recruit new cadets and adult volunteers.

Army Cadet Activity fund - This fund is used to run cadet activities and ensure the well being of both cadets and volunteers.

Cadet Digital Services fund - These funds are granted to the ACCT UK in order to run and develop a variety of digital services for the cadets.

Cadet Music fund - This fund is to support Army Cadets to learn an instrument or take part in music performances around the world. Activities supported by this fund include instrument purchase, uniform purchase and support for cadets to travel overseas.

Cadet Sport fund - These funds exist to support Army Cadet sport across the UK. These funds were provided by members of the counties who voted at an AGM held on 23rd March, 2024 to derestrict £60,669 of the funds as they were not going to be utilised in the future. Consequently we have transferred out this amount from the Cadet Sports Fund into the General Fund.

Duke of Edinburgh Award fund - This fund is to support Army cadets and adult volunteers to undertake the volunteering section of the Duke of Edinburgh award.

Grenadier fund - The ACCT UK is grateful to the Grenadier Guards Trust for supporting cadets in affiliated detachments to take part in cadet activities.

Leeds fund - The ACCT UK is grateful to the Charles Brotherton Trust for supporting cadets in the Leeds area to take part in Adventure Training activities.

35

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

19b Purposes of restricted funds (continued)

Matthew Bacon Bursary fund - In September 2005, Major Matthew Bacon of the Intelligence Corps was tragically killed by a roadside bomb in Iraq. Major Bacon was a former Surrey ACF cadet, as well as being a career soldier. He was a keen participant in many types of adventurous training, which also formed an important part of his life.

His parents, Mr and Mrs Roger Bacon, set up a bursary in their son's name as a means of celebrating his life. The bursary enables army cadets to take part in an Outward Bound Trust 'Summit' Adventure Course, which would otherwise be beyond their means. ACCT UK are grateful to Sangfroid Resources, and Red Scientific / Knowledge Technical for their support of the bursary.

South East Essex fund - ACCT UK received a generous legacy of £30,000 from the estate of Arthur Jopson, a former CFAV in C Company of Essex ACF. Mr Jopson specified his gift was for the benefit of cadets and CFAVs in the South East of Essex.

Adventure Training fund - This fund exists to support Adventurous Training in the Army Cadets. It helps to fund the Cadet Centre for Adventurous Training, which delivers qualification to cadets and volunteers, and also supports expeditions in the UK and overseas.

National Commemorative Events fund - This fund exists to support cadets to study battlefield history and take part in commemorative events to better understand the impact of war.

Oxfordshire fund - This fund exists for the benefit of the Army Cadet Force in Oxfordshire.

Wiltshire ACF fund - This fund exists for the benefit of the Army Cadet Force in Wiltshire.

Northumbria fund - This fund exists for the benefit of the Army Cadet Force in Northumbria.

Essex AT fund - This fund exists to support adventurous training in Essex.

London fund - This fund exists for the benefit of the Army Cadet Force in London.

Qualifications fund - This fund is to support the development of the cadets and adults of the Army Cadet Force to gain academic qualifications or skilled training.

Shropshire fund - This fund exists for the benefit of the Army Cadet Force in Shropshire.

Disadvantaged Youth fund - This fund exists for the benefit of disadvantaged young people in the Army Cadet Force across the UK.

Glasgow & Lanarkshire fund - This fund exists for the benefit of the Army Cadet Force in Glasgow & Lanarkshire.

Greater Manchester fund - This fund exists for the benefit of the Army Cadet Force in Greater Manchester.

Income generation fund - The trustees have set aside these funds specifically for the purpose of generating income to support the grants programme. Income This fund is invested and more details about the performance of the investments can be found in note 14. Interest and dividends on the investments are taken into the charity as cash and used entirely to fund grants. The investments seek to protect the real value of the fund so it continues to provide grant income for many years to come.

Northern Irish fund - These funds are set aside to enable local decision making in running the Northern Irish Branch.

Scottish fund - These funds are set aside to enable local decision making in running the Scottish Branch.

Welsh fund - These funds are set aside to enable local decision making in running the Welsh Branch.

Wiltshire fund - Wiltshire ACF used to have its own charity but it was shut down some years ago. A sum of £5,000 was left to the Wiltshire ACF League and the solicitors managing probate identified ACCT UK as a suitable alternative charity to receive the legacy. The funds therefore came in to the charity as unrestricted funding. However the trustees felt they had a moral duty to try and spend the funds in support of cadets in Wiltshire. Therefore, they decided that for three years this legacy will be designated to support cadets in Wiltshire, after which the remaining gift will be released into the general fund.

20 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

36

The Army Cadet Charitable Trust UK

Notes to the financial statements

For the year ended 31 March 2026

21 ACF Counties, Regions and Training Centres that have received grants from the ACCT UK in the year:

1st (Northern Ireland) Bn ACF 1st Bn (The Highlanders) ACF 2nd (Northern Ireland) Bn ACF 2nd Bn (The Highlanders) ACF Angus & Dundee Bn ACF Argyll & Sutherland Highlanders Bn ACF Bedfordshire & Hertfordshire ACF Black Watch Bn ACF Buckinghamshire (The Rifles) ACF Cambridgeshire ACF Cheshire & IOM ACF City of London & NE Sector ACF Cleveland ACF Clwyd & Gwynedd ACF Cornwall (The Rifles) ACF Cumbria ACF Derbyshire (Mercian Regiment) ACF Devon ACF Dorset ACF Durham ACF Dyfed & Glamorgan ACF Essex ACF Glasgow & Lanarkshire Bn ACF Gloucestershire (The Rifles) ACF Greater London South East Sector ACF Greater London South West Sector ACF Gwent & Powys ACF Hampshire & IOW ACF Hereford & Worcester ACF Humberside & South Yorkshire ACF Kent ACF

Lancashire ACF Leicester Northamptonshire & Rutland ACF Lincolnshire ACF Lothian & Borders Bn ACF Merseyside ACF Middlesex & NW London Sector ACF Norfolk ACF Northumbria ACF Nottinghamshire ACF Oxfordshire (The Rifles) Bn ACF Royal County of Berkshire ACF Shropshire ACF Somerset Cadet Bn (The Rifles) ACF Staffordshire & WM North Sector ACF Suffolk ACF Surrey (PWRR Bn) ACF Sussex ACF The City & County of Bristol ACF The West Lowland Bn ACF Warwickshire & West Midlands ACF Wiltshire ACF Yorkshire (N & W) ACF HQ Centre (East) CTT HQ Centre (West) CTT HQ NI (38 Brigade) CTT HQ North East CTT HQ Scotland (51 Brigade) CTT HQ South East CTT HQ South West CTT HQ Wales (160 Brigade) CTT LONDIST CTT

37