IRIS Accounts Production v25.1.3.33 Other Company accounts True false Pounds 1.12.23 31.3.25 31.3.25 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true false true true false false true false false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh070658152023-11-30070658152025-03-31070658152023-12-012025-03-31070658152022-11-30070658152022-12-012023-11-30070658152023-11-3007065815ns0:CharitableCompanyLimitedByGuarantee2023-12-012025-03-3107065815ns15:PoundSterling2023-12-012025-03-3107065815ns11:FRS1022023-12-012025-03-3107065815ns11:IndependentExaminationCharity2023-12-012025-03-3107065815ns11:SmallCompaniesRegimeForAccounts2023-12-012025-03-3107065815ns11:FullAccounts2023-12-012025-03-3107065815ns11:CharitiesSORP2023-12-012025-03-310706581522023-12-012025-03-310706581532023-12-012025-03-3107065815ns0:Trustee22023-12-012025-03-3107065815ns0:Trustee32023-12-012025-03-3107065815ns0:Trustee42023-12-012025-03-3107065815ns0:Trustee52023-12-012025-03-3107065815ns0:Trustee12023-12-012025-03-3107065815ns0:Trustee62023-12-012025-03-3107065815ns0:Trustee72023-12-012025-03-3107065815ns11:RegisteredOffice2023-12-012025-03-3107065815ns0:TotalUnrestrictedFunds2023-12-012025-03-3107065815ns0:TotalRestrictedIncomeFunds2023-12-012025-03-3107065815ns0:Activity102023-12-012025-03-3107065815ns0:TotalUnrestrictedFundsns0:Activity102023-12-012025-03-3107065815ns0:Activity10ns0:TotalRestrictedIncomeFunds2023-12-012025-03-3107065815ns0:Activity102022-12-012023-11-3007065815ns0:Activity82023-12-012025-03-3107065815ns0:TotalUnrestrictedFundsns0:Activity82023-12-012025-03-3107065815ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-12-012025-03-3107065815ns0:Activity82022-12-012023-11-3007065815ns0:Activity92023-12-012025-03-3107065815ns0:TotalUnrestrictedFundsns0:Activity92023-12-012025-03-3107065815ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-12-012025-03-3107065815ns0:Activity92022-12-012023-11-3007065815ns0:TotalUnrestrictedFunds2023-11-3007065815ns0:TotalRestrictedIncomeFunds2023-11-3007065815ns0:TotalUnrestrictedFunds2025-03-3107065815ns0:TotalRestrictedIncomeFunds2025-03-3107065815ns10:WithinOneYear2025-03-3107065815ns10:WithinOneYear2023-11-3007065815ns10:ComputerEquipment2023-12-012025-03-310706581522023-12-012025-03-310706581532023-12-012025-03-3107065815ns0:TotalUnrestrictedFunds2022-12-012023-11-3007065815ns0:TotalRestrictedIncomeFunds2022-12-012023-11-3007065815ns0:TotalUnrestrictedFundsns0:Activity102022-12-012023-11-3007065815ns0:Activity10ns0:TotalRestrictedIncomeFunds2022-12-012023-11-3007065815ns0:TotalUnrestrictedFundsns0:Activity82022-12-012023-11-3007065815ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-12-012023-11-3007065815ns0:TotalUnrestrictedFundsns0:Activity92022-12-012023-11-3007065815ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-12-012023-11-3007065815ns10:ComputerEquipment2023-11-3007065815ns10:ComputerEquipment2025-03-3107065815ns10:ComputerEquipment2023-11-3007065815ns10:UnlistedNon-exchangeTradedns10:CostValuation2023-11-3007065815ns10:UnlistedNon-exchangeTradedns10:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2025-03-3107065815ns10:UnlistedNon-exchangeTradedns10:CostValuation2025-03-3107065815ns10:WithinOneYear2023-12-012025-03-310706581512023-12-012025-03-31
REGISTERED COMPANY NUMBER: 07065815 (England and Wales)
REGISTERED CHARITY NUMBER: 1136671
















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025

FOR

HEROPRENEURS

HEROPRENEURS

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025










Page

Reference and Administrative Details 1

Report of the Trustees 2 to 3

Statement of Trustees' Responsibilities 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11 to 17

HEROPRENEURS

REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025



TRUSTEES S A Banks-Cooper (resigned 31.7.24)
Lt Gen T R Copinger-Symes CBE (resigned 31.7.24)
P Mountford FCA - Chairman (resigned 31.7.24)
D S Nicol BSc (Hons) MSc (Fin) (resigned 31.7.24)
I Downie (appointed 31.7.24)
I Webber (appointed 31.7.24)
R Saund (appointed 31.7.24)


REGISTERED OFFICE Mountbarrow House
6 -20 Elizabeth Street
London
SW19 9RB


REGISTERED COMPANY NUMBER 07065815 (England and Wales)


REGISTERED CHARITY NUMBER 1136671


INDEPENDENT EXAMINER Banks Cooper Associates Limited
21 Marina Court
Castle Street
Hull
HU1 1TJ

HEROPRENEURS (REGISTERED NUMBER: 07065815)

REPORT OF THE TRUSTEES
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 December 2023 to 31 March 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
In summary the objects of the Charity are restricted to the prevention or relief of financial hardship among former serving members of the Armed Forces of the Crown and their dependents by providing financial assistance and support services designed to enable such individuals to establish, grow and sustain a business idea, and to the promotion of the efficiency of the Armed Forces by assisting with the resettlement of former serving members of the Armed Forces of the Crown and their readjustment to civilian life.

Our mission is to empower new entrepreneurs from the extended military community to achieve their business ambitions. Through our high-quality mentoring programme, we enable business owners from a wide variety of industries and backgrounds to set up and run innovative and sustainable businesses that contribute to the good of society. Working with former and serving members of the military community and their families, we equip our mentees with the practical skills and knowledge needed to thrive in business.

The Trustees confirm that they 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 future activities.

ACHIEVEMENT AND PERFORMANCE
Heropreneurs directly supported 180 businesses from the UK military community in the period covered by this report through our mentoring programme. The number of mentors supporting these beneficiaries was 74, with 20 new mentors joining and 13 leaving the programme. The programme is built on the time and expertise of our mentors and the Trustees would like to sincerely thank them for their commitment to supporting business in the UK Armed Forces Community.

During the last year the Charity again held its awards ceremony at the Warwick Business School. Heropreneurs takes every opportunity to encourage personal growth, celebrate success and the achievements within our community of entrepreneurs and business owners. 5 awards were presented to a range of winners to celebrate the achievements of the military community in the commercial world. I would particularly like to thank our sponsors Warwick Business School, Goldman Sachs, and Banks Cooper Associates, who continue to make these awards possible.

I would like to thank everyone that has supported and worked for the charity during this period. We have ensured that the service provided throughout is of the highest standard, without personal commercial gain, delivering expert and independent advice to our beneficiaries.

FINANCIAL REVIEW
Heropreneurs' income for the period 1 December 2023 to 31 March 2025 was £96,081 (£98,315 year ended 30 November 2023). The Charity's costs remained comparable to the prior year when adjusted for the extended period to which this report refers.

The Charity recorded a loss of £62. (2023 a surplus of £20,842).

FUTURE PLANS
As stated in last year's annual report, the Trustees have been in discussions with Forces Employment Charity to merge Heropreneurs operations with it. These discussions have led to the conditions being set for this merger and the Trustees are delighted to state that Heropreneurs merged with Forces Employment Charity on 31 March 2025. The Trustees have taken this important step to secure the ongoing delivery of the operations of Heropreneurs with the additional benefit of being able to increase the reach of our mentoring programme.

The financial statements have not been prepared on a going concern basis as, following the merger, there is now a period of action to wind up the operations of Heropreneurs as an entity. Overall, the merger should lead to an expansion in the operations of Heropreneurs and a corresponding increase in the number of beneficiaries that the Charity can help.


HEROPRENEURS (REGISTERED NUMBER: 07065815)

REPORT OF THE TRUSTEES
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


STRUCTURE, GOVERNANCE AND MANAGEMENT
Heropreneurs is established as a company limited by guarantee and is a Registered Charity with the Charity Commission (No 1136671). The affairs of Heropreneurs are governed by its Memorandum and Articles of Association. The liability of the members in the event of Heropreneurs being wound up is limited to a sum not exceeding £1 per member.

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

Trustees, who are also Directors of the Company, are selected with a view to ensuring that there is an appropriate balance of experience relevant to the needs of the Charity. New directors may be appointed either by the existing Directors or by a resolution of members. Each year one third of the Directors, chosen by length of service, must retire by rotation and may be re-elected at the Annual General Meeting.

EVENTS SINCE THE END OF THE PERIOD
Information relating to events since the end of the period is given in the notes to the financial statements.

Approved by order of the board of trustees on 29 May 2025 and signed on its behalf by:





I Downie - Trustee

HEROPRENEURS

STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


The trustees (who are also the directors of Heropreneurs for the purposes of company law) are responsible for preparing the Report of the Trustees 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 those financial statements, the trustees are required to

- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
HEROPRENEURS


Independent examiner's report to the trustees of Heropreneurs ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the period 1 December 2023 to 31 March 2025.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Tracy Hutty

Banks Cooper Associates Limited
21 Marina Court
Castle Street
Hull
HU1 1TJ

29 May 2025

HEROPRENEURS

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025

Period
1.12.23
to Year Ended
31.3.25 30.11.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 9,304 55,000 64,304 71,895

Charitable activities
Heropreneurs Awards, other events and workshops 30,156 - 30,156 25,820

Investment income 3 1,621 - 1,621 600
Total 41,081 55,000 96,081 98,315

EXPENDITURE ON
Raising funds 288 - 288 216

Charitable activities
Heropreneurs Awards, other events and workshops 28,035 7,139 35,174 24,550
General administrative costs - 32,878 32,878 27,972

Other 27,803 - 27,803 24,735
Total 56,126 40,017 96,143 77,473

NET INCOME/(EXPENDITURE) (15,045 ) 14,983 (62 ) 20,842


RECONCILIATION OF FUNDS
Total funds brought forward 35,889 3,549 39,438 18,596

TOTAL FUNDS CARRIED FORWARD 20,844 18,532 39,376 39,438

HEROPRENEURS (REGISTERED NUMBER: 07065815)

BALANCE SHEET
31 MARCH 2025

31.3.25 30.11.23
Notes £    £   
FIXED ASSETS
Tangible assets 7 - -
Investments 8 - 6,000
- 6,000

CURRENT ASSETS
Debtors 9 12,000 12,626
Cash at bank 62,398 25,970
74,398 38,596

CREDITORS
Amounts falling due within one year 10 (35,022 ) (5,158 )

NET CURRENT ASSETS 39,376 33,438

TOTAL ASSETS LESS CURRENT LIABILITIES 39,376 39,438

NET ASSETS 39,376 39,438
FUNDS 12
Unrestricted funds 20,844 35,889
Restricted funds 18,532 3,549
TOTAL FUNDS 39,376 39,438

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.


The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


HEROPRENEURS (REGISTERED NUMBER: 07065815)

BALANCE SHEET - continued
31 MARCH 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 29 May 2025 and were signed on its behalf by:





I Downie - Trustee

HEROPRENEURS

CASH FLOW STATEMENT
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025

Period
1.12.23
to Year Ended
31.3.25 30.11.23
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 34,807 (3,664 )
Interest paid - (30 )
Net cash provided by/(used in) operating activities 34,807 (3,694 )

Cash flows from investing activities
Interest received 1,621 600
Net cash provided by investing activities 1,621 600

Change in cash and cash equivalents in the
reporting period

36,428

(3,094

)
Cash and cash equivalents at the beginning of the
reporting period

25,970

29,064
Cash and cash equivalents at the end of the
reporting period

62,398

25,970

HEROPRENEURS

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Period
1.12.23
to Year Ended
31.3.25 30.11.23
£    £   
Net (expenditure)/income for the reporting period (as per the Statement of
Financial Activities)

(62

)

20,842
Adjustments for:
Interest received (1,621 ) (600 )
Interest paid - 30
Impairment of investments 6,000 -
Decrease/(increase) in debtors 626 (11,753 )
Increase/(decrease) in creditors 29,864 (12,183 )
Net cash provided by/(used in) operations 34,807 (3,664 )


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.23 Cash flow At 31.3.25
£    £    £   
Net cash
Cash at bank 25,970 36,428 62,398
25,970 36,428 62,398
Total 25,970 36,428 62,398

HEROPRENEURS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


1. STATUTORY INFORMATION

Heropreneurs is a charitable company, limited by guarantee, registered in England and Wales.

The registered number and registered office address can be found on the Reference and Administrative Details page.

The presentation currency of the financial statements is the Pound Sterling (£).

These financial statements cover Heropreneurs as an individual entity.

From 1 April 2025 the operations of Heropreneurs were merged with that of the Forces Employment Charity.

The accounting period has been extended by the Trustees and these financial statements cover the 16 month period from 1 December 2023 to 31 March 2025. The reason for this was to include the complete period to when Heropreneurs' operations were merged with those of the Forces Employment Charity.

This means that the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Going Concern
The financial statements have not been prepared on a going concern basis because from 1 April 2025 the operations of Heropreneurs have been merged with that of the Forces Employment Charity and in due course Heropreneurs will cease as an entity.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Computer equipment - 100% on cost

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

HEROPRENEURS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments
The charity only has financial assets and 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.

3. INVESTMENT INCOME
Period
1.12.23
to Year Ended
31.3.25 30.11.23
£    £   
Deposit account interest 1,621 600

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 March 2025 nor for the year ended 30 November 2023.


Trustees' expenses

No trustees received any reimbursement of expenses in the period ended 31 March 2025 (2023 £91).


5. STAFF COSTS

The average monthly number of employees during the period was as follows:

Period
1.12.23
to Year Ended
31.3.25 30.11.23
Administration & management 1 1

No employees received emoluments in excess of £60,000.


HEROPRENEURS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 26,835 45,060 71,895

Charitable activities
Heropreneurs Awards, other events and workshops 25,820 - 25,820

Investment income 600 - 600
Total 53,255 45,060 98,315

EXPENDITURE ON
Raising funds 216 - 216

Charitable activities
Heropreneurs Awards, other events and workshops 2,010 22,540 24,550
General administrative costs 30 27,942 27,972

Other 23,289 1,446 24,735
Total 25,545 51,928 77,473

NET INCOME/(EXPENDITURE) 27,710 (6,868 ) 20,842


RECONCILIATION OF FUNDS
Total funds brought forward 8,179 10,417 18,596

TOTAL FUNDS CARRIED FORWARD 35,889 3,549 39,438

7. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2023 and 31 March 2025 394
DEPRECIATION
At 1 December 2023 and 31 March 2025 394
NET BOOK VALUE
At 31 March 2025 -
At 30 November 2023 -

HEROPRENEURS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


8. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
MARKET VALUE
At 1 December 2023 6,000
Impairments (6,000 )
At 31 March 2025 -
NET BOOK VALUE
At 31 March 2025 -
At 30 November 2023 6,000

There were no investment assets outside the UK.

The investments are programme related investments, made directly in pursuit of the Company's charitable purposes and were included at market value of £6,000 at 30 November 2023. During the period to 31 March 2025 these investments were considered to require a full impairment provision and this has been recognised within Other expenditure in the Statement of Financial Activities.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 30.11.23
£    £   
Trade debtors 12,000 12,000
Other debtors - 43
Prepayments and accrued income - 583
12,000 12,626

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 30.11.23
£    £   
Trade creditors 78 39
VAT 4,607 155
Other creditors 337 214
Accruals and deferred income 30,000 4,750
35,022 5,158

Included above is deferred income of £25,000 (2023: £Nil) received in advance for sponsorship of the Heropreneurs Awards in November 2025.


HEROPRENEURS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.3.25 30.11.23
Unrestricted Restricted Total Total
fund funds funds funds
£    £    £    £   
Investments - - - 6,000
Current assets 55,866 18,532 74,398 38,596
Current liabilities (35,022 ) - (35,022 ) (5,158 )
20,844 18,532 39,376 39,438

12. MOVEMENT IN FUNDS
Net
At movement At
1.12.23 in funds 31.3.25
£    £    £   
Unrestricted funds
General fund 35,889 (15,045 ) 20,844

Restricted funds
Core Services to Beneficiaries fund 3,549 14,983 18,532

TOTAL FUNDS 39,438 (62 ) 39,376

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 41,081 (56,126 ) (15,045 )

Restricted funds
Core Services to Beneficiaries fund 55,000 (40,017 ) 14,983

TOTAL FUNDS 96,081 (96,143 ) (62 )


HEROPRENEURS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
At movement At
1.12.22 in funds 30.11.23
£    £    £   
Unrestricted funds
General fund 8,179 27,710 35,889

Restricted funds
Core Services to Beneficiaries fund 10,417 (6,868 ) 3,549

TOTAL FUNDS 18,596 20,842 39,438

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 53,255 (25,545 ) 27,710

Restricted funds
Core Services to Beneficiaries fund 30,000 (36,868 ) (6,868 )
Creating Heropreneurs 15,060 (15,060 ) -
45,060 (51,928 ) (6,868 )
TOTAL FUNDS 98,315 (77,473 ) 20,842

13. RELATED PARTY DISCLOSURES

During the period grants of £55,000 (2023 £30,000) were received from the Veterans' Foundation. Peter Mountford and Simon Banks-Cooper are trustees of the Veterans' Foundation and were trustees of Heropreneurs until 31 July 2024.

Ramnik Saund and Ian Webber are trustees of the Forces Employment Charity and Iain Downie is an employee of Forces Employment Charity (the ultimate controlling party at 31 March 2025).


HEROPRENEURS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2023 TO 31 MARCH 2025


14. POST BALANCE SHEET EVENTS

From 1 April 2025 the operations of Heropreneurs have been merged with that of the Forces Employment Charity.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party at 31 March 2025 is the Forces Employment Charity, incorporated in England and Wales and limited by guarantee. (Registered charity number 1061212, company number 03270369.)

The Registered Office address is First Floor, Mountbarrow House, 12 Elizabeth Street, London, SW1W 9RB.

The principal purposes and activities of the Forces Employment Charity is to provide life-long, life-changing support, jobs and training opportunities to Service Leavers, veterans, reservists and their spouses, partners and children, irrespective of circumstances, rank, length of service, or reason for leaving.

16. STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

The Statement of Financial Activities includes a combined Income and Expenditure Account.

17. INDIVIDUAL MATERIAL RESTRICTED FUNDS

During the period an amount of £25,000 was received as a grant to contribute to the part time salary cost of the Community Development Manager and Heropreneurs Lead for the period of two years to 31 December 2026.

At 31 March 2025 £18,532 of this grant remained unspent in the Core Services to Beneficiaries fund in Restricted Funds.

18. INDEPENDENT EXAMINER REMUNERATION


Period 1.12.23
to 31.3.25

Year ended
30.11.23
£    £   

Remuneration receivable by the charity's
independent examiner for the preparation and
examination of the accounts.




5,250




9,500

Remuneration receivable by the charity's
independent examiner in respect of any other
financial services rendered to the charity, such as
consultancy, financial advice or accountancy
services.








5,600








6,575