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COMPANY REGISTRATION NUMBER: 06975700
CHARITY REGISTRATION NUMBER: 1133386
TICKETS FOR TROOPS
Company Limited by Guarantee
Unaudited Financial Statements
31 July 2024
TICKETS FOR TROOPS
Company Limited by Guarantee
Financial Statements
Year ended 31 July 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
6
Statement of financial activities (including income and expenditure account)
7
Statement of financial position
8
Notes to the financial statements
9
TICKETS FOR TROOPS
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 July 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2024 .
Reference and administrative details
Registered charity name
TICKETS FOR TROOPS
Charity registration number
1133386
Company registration number
06975700
Principal office
6 Lower Grosvenor Place
London
SW1W 0EN
Registered office
2 Crossways Business Centre
Bicester Road
Kingswood
Aylesbury
Bucks
HP18 0RA
The trustees
Lord Marland of Odstock
General The Lord Houghton of Richmond
Lisa Marie Rowland
S J Higgins
Independent examiner
W J E Kerr FCCA
Structure, governance and management
Governing document
The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006 and has no share capital.
Recruitment and appointment of new trustees
The Charity aims to operate to achieve its objectives with a small, carefully selected team of Trustees - supported by a wide and influential group of advisors and Patrons. Trustees and Patrons shall be appointed by the Directors.
Organisational structure
Tickets For Troops now has a board of four Trustees, all of whom are active directors. There are a further fifteen members of the Advisory Board who aim to meet twice a year.
The Board
Chairman - Lord Marland of Odstock
Lord Marland is Chairman of the Commonwealth Enterprise and Investment Council. He retired as the Prime Minister's Trade Envoy and Chairman of the Business Ambassador Network at 1 January 2014. He was the Minister for the Department of Energy and Climate Change in 2010 and subsequently for the Department for Business, Innovation and Skills.
Lord Marland was one of the founding directors of Jardine Lloyd Thompson plc, a multinational insurance business and led the acquisition of Hunter Boot Ltd. He has multiple business interests.
He is Chairman of Tickets For Troops, a trustee of the Churchill International Society, Trustee of the British Museum, Trustee of The Outdoor Trust, and The Atlantic Partnership and Patron of Salisbury and South Wiltshire Cricket.
Stuart Higgins
Stuart runs Stuart Higgins Media, a public relations company specialising in promoting and protecting brands and people. He has a wide range of clients including well-known individuals and major companies, sports stars and sports organisations. He is a previous editor of The Sun newspaper, where he worked for twenty years. He has built up a vast network of contacts and connections which have helped promote the charity and raise its profile in the media and with the general public. He has also worked with the Armed Forces charity, BLESMA, which supports servicemen and women who have lost limbs, and with British Forces Broadcasting Services.(BFBS) The Royal Marines Charity and the Royal British Legion.
General The Lord Houghton of Richmond GCB, CBE, DL
General Nick Houghton is a former United Kingdom Chief of Defence Staff - the professional Head of the UK's Armed Forces. He stood down in July 2016. He was Constable of the Tower of London 2016-2022 and was made a Cross Bench Peer in the House of Lords in 2017.
On leaving the army Nick Houghton established his own portfolio company which consists of a range of tech start-ups and more mature companies in the Security and Defence sector. He is an Honorary Fellow of St Peter's College, Oxford and the Royal United Services Institute. He is President of the Reserve Forces and Cadets Association.
Lisa Marie Rowland
Appointed to the board in May 2021 following the death of Robert Rowland in January 2021. Lisa Marie Rowland has a broad range of international asset management experience extending over 30 years; working in the USA, Japan, Spain and the UK. Former Managing Director/Hedge Fund Manager, Robertson Stephens Fund Management. Board member, Managing Director/Hedge Fund Manager at JO Hambro Capital Management. CEO of Pinnacle Towers UK Limited. Since 2013, Fund Manager and CEO of Bowdon Capital Limited, a family office. Special advisor to Lyra in Africa, a charity providing housing and education to girls in rural Tanzania. Volunteer in UK glassdoor.org.uk, a route out of homelessness.
The Advisory Board
Mr Nick Allott OBE Managing Director - Cameron Mackintosh
Mr Nick Blackburn Former Chairman - Eventim U.K. Ltd
Mr Andy Coulson Founder & CEO - Coulson Partners
Mr Rob Hallett CEO - Robomagic
Mr Alex Hill President & CEO - AEG Europe
Mr Andrew Leighton-Pope Managing Director - D&A Associates
Sir Peter Norriss Former Air Marshal
Ms Helen Parker EVP UPHE Content Group - Universal Pictures International Mr John Reid President, Concerts - Live Nation Europe
Lt Col Elisabeth Roberts British Army
Mr Frank Warren Boxing Promoter & Chairman of Box Nation
Mr David Webb CEO | Brands | EMEA & APAC - CSM Sport & Entertainment
Maj Gen (Retd) Chris Wilson Chairman, BFBS
Cdr Virginia Newman Royal Navy
Mr Denis Haman CEO - Glide Publishing
Employees
From the outset it was clear that there would be a considerable amount of administration to be handled by Tickets For Troops. The board has appointed an Operations Director to oversee the day to day operations of the Charity. This is a full time post and is supported by a small team of permanent and short term contract workers.
Wider network
Since the time of its launch, Tickets For Troops has received a huge amount of support from many high profile and influential individuals from across the sports, music and entertainment industries.
In addition to the Board and the Advisory Board, Tickets For Troops has the following active Patrons, WO1 Kim Hughes GC and Gary Lineker.
Operations
SEE Tickets manages the ticketing platform for the Charity.
The Reuben brothers provide an office for the Charity at 6 Lower Grosvenor Place, and they generously offer the office without a rental charge.
The website is maintained and updated by freelance web developers at heavily discounted rates.
Risk management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Objectives and activities
Our Charitable Objectives
to raise the spirit and morale of past and present members of the Armed Forces of the Crown. to promote the efficiency and effectiveness of the Armed Forces of the Crown.
Our Aims
to provide free tickets, tickets with a nominal charge to support running costs and memorable experiences to a wide range of sporting, cultural, musical, theatrical and entertainment events.
to organise and assist in the provision of cultural activities, concerts, shows, exhibitions and other entertainment activities.
to solicit tickets for members of the Armed Forces of the Crown, and those who have been medically discharged from Armed Forces after 2001, in receipt of a medical pension after 2001 and the next of kin of those personnel who have died as a result of their service post-2001, for their primary use and to be able to invite guest(s).
How our activities deliver public benefit
Our main activities and who we try to help are described below. All our charitable activities focus on creating numerous opportunities for troops to attend events across the UK and are undertaken to further our charitable purposes for the public benefit. The trustees have had due regard to the Charity Commission's guidance on public benefit.
Who used and benefited from our services?
Tickets For Troops has over 83,000 registered members and circa 62,000 active users. Ticket distribution for 2024 of 242,157 tickets with an average of 3 tickets per person; 3,546 events were attended with their families and friends.
Those who directly benefitted were current serving personnel (full time and reservists) across the trig-services as well as those who had been medically discharged since 2001. The wider military community also benefitted as troops are able to take their dependents, families and friends along to events with them.
Volunteers
Tickets For Troops has always considered that our volunteers are vital for us to achieve our objectives and we wish to thank the many people who have given their time freely to support our cause especially the Regional Ambassadors.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
Charitable activities
Since Tickets For Troops was launched in November 2009 over 2.2 million tickets have been allocated to service personnel and in excess of 220,000 soldiers, sailors and airmen and women have registered with us. Over 500 organisations currently donate tickets to the charity.
Our aims for the year to come are:
to maintain momentum amongst ticket donors to continue to support the UK Armed Forces
to remain the Charity of choice for complimentary ticket distribution
to increase the regional spread of tickets to align with troop demographics
Fundraising activities
Over the past six years, the Charity has kindly been offered marathon places by HQ London District, at this year's £6,000 was raised.
Fundraising platform
In January 2022 Tickets For Troops opened an account with The Charities Aid Foundation (CAF) as their main platform following the closure of Virgin Money Giving. CAF was decided as they offered the best rates and the option for the donor to pay the fees, giving all the money to the charity.
Financial review
Reserves policy
The general reserve at the end of the period stood at £112,890 (2023: £180,260). The general policy of the Trustees is that funds should be used to further the aims of the Charity and they seek to avoid the unnecessary accumulation of reserves.
Investment policy
The Trustees established an investment policy whereby the charity holds enough liquid assets for eighteen months operating expenses in the event of closure. The majority of the assets have investment in Fund Smith.
Principal funding sources
Our principal funding sources are through a booking fee and donations, further to this the charity regularly sends out feedback emails, encouraging members to provide feedback and photos from events, as well as a link to the CAF fundraising platform. This encourages donations from our members. We have also fundraised via the London Marathon over the past six years.
The trustees' annual report and the strategic report were approved on 9 May 2025 and signed on behalf of the board of trustees by:
Lord Marland of Odstock
Trustee
TICKETS FOR TROOPS
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of TICKETS FOR TROOPS
Year ended 31 July 2024
I report to the trustees on my examination of the financial statements of TICKETS FOR TROOPS ('the charity') for the year ended 31 July 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements 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 financial statements 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.
W J E Kerr FCCA Independent Examiner
EK & Co 2003 Ltd
2 Crossways Business Centre
Bicester Road
Kingswood
Aylesbury
HP18 0RA
2 June 2025
TICKETS FOR TROOPS
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 July 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
22,289
22,289
54,848
Charitable activities
6
188,684
188,684
156,094
Investment income
7
975
975
388
--------
--------
--------
Total income
211,948
211,948
211,330
--------
--------
--------
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies
8
466
Expenditure on charitable activities
9,10
279,318
279,318
201,076
--------
--------
--------
Total expenditure
279,318
279,318
201,542
--------
--------
--------
--------
--------
--------
Net (expenditure)/income
( 67,370)
( 67,370)
9,788
--------
--------
--------
Other recognised gains and losses
Fair value movements
14,931
14,931
13,899
--------
--------
--------
Net movement in funds
( 52,439)
( 52,439)
23,687
Reconciliation of funds
Total funds brought forward
271,364
271,364
247,677
--------
--------
--------
Total funds carried forward
218,925
218,925
271,364
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
TICKETS FOR TROOPS
Company Limited by Guarantee
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
£
Current assets
Debtors
17
16,343
19,361
Investments
18
165,960
171,030
Cash at bank and in hand
54,737
99,306
--------
--------
237,040
289,697
Creditors: amounts falling due within one year
19
18,115
18,333
--------
--------
Net current assets
218,925
271,364
--------
--------
Total assets less current liabilities
218,925
271,364
--------
--------
Net assets
218,925
271,364
--------
--------
Funds of the charity
Unrestricted funds
218,925
271,364
--------
--------
Total charity funds
21
218,925
271,364
--------
--------
For the year ending 31 July 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 9 May 2025 , and are signed on behalf of the board by:
Lord Marland of Odstock
Trustee
TICKETS FOR TROOPS
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 2 Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, Bucks, HP18 0RA.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Judgements and key sources of estimation uncertainty
In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. Critical judgements in applying the Company's accounting policies The critical judgements that the directors have made in the progress of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below. (i) Assessing indicators of impairment In assessing whether there have been any indicators of impairment of assets, the directors have considered both internal and external sources of information such as market conditions, counterparty credit ratings and experience recoverability. There have been no indicators of impairments identified during the current financial year. Key sources of estimation uncertainty The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (ii) Estimating value in use Where an indication of impairment exists, the directors will carry out an impairment review to determine the recoverable amount, which is the higher of fair value less cost to sell and value in use. The value in use calculation requires the directors to estimate the future cash flows expected to arise from the asset or the cash generating unit and a suitable discount rate in order to calculate present value. (iii) Recoverability of receivables The company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability, the directors consider factors such as the ageing of the receivables, past experience of recoverability, and the credit profile of individual or groups of customers. (iv) Determining residual values and useful economic lives of property, plant and equipment. The company depreciate tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes. Judgement is applied by management when determining the residual values for plant, machinery and equipment. When determining the residual value management aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from charitable activities relates to booking fees for tickets which are a contribution to cover the costs of printing, packing and delivery of tickets to the members. The income is accounted for on an accruals basis.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% - 33.3% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Basic financial assets, which include trade, other receivables and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The liability of the members is limited to a sum not exceeding £1 if the Company is wound up during their membership or within one year afterwards.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Donations
20,696
20,696
50,304
50,304
Other donations and legacies
Gift aid
1,593
1,593
4,544
4,544
-------
-------
-------
-------
22,289
22,289
54,848
54,848
-------
-------
-------
-------
6. Charitable activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Booking fees
188,684
188,684
156,094
156,094
--------
--------
--------
--------
7. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Income from cash investments
975
975
388
388
----
----
----
----
8. Costs of raising donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Costs of raising donations and legacies - Donations
466
466
----
----
----
----
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Ticketing.
30,033
30,033
25,725
25,725
Support costs
249,285
249,285
175,351
175,351
--------
--------
--------
--------
279,318
279,318
201,076
201,076
--------
--------
--------
--------
10. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Ticketing.
30,033
249,285
279,318
201,076
-------
--------
--------
--------
11. Analysis of support costs
Analysis of support costs activity 1
Total 2024
Total 2023
£
£
£
Staff costs
143,882
143,882
139,570
Premises
2,672
2,672
2,825
Communications and IT
83,131
83,131
9,238
General office
11,338
11,338
9,873
Finance costs
256
256
818
Governance costs
2,600
2,600
2,600
Support costs - Advertising and PR
5,406
5,406
10,427
--------
--------
--------
249,285
249,285
175,351
--------
--------
--------
12. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
30
----
----
13. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
2,600
2,600
Other assurance services
6,965
6,888
------
------
9,565
9,488
------
------
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
131,393
127,537
Social security costs
7,653
6,989
Employer contributions to pension plans
3,404
3,652
--------
--------
142,450
138,178
--------
--------
The average head count of employees during the year was 4 (2023: 4 ). The average number of full-time equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Administrative staff
4
4
----
----
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £50,645 (2023:£49,220).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
No trustee expenses have been incurred.
16. Tangible fixed assets
Equipment
£
Cost
At 1 August 2023 and 31 July 2024
2,853
------
Depreciation
At 1 August 2023 and 31 July 2024
2,853
------
Carrying amount
At 31 July 2024
------
At 31 July 2023
------
17. Debtors
2024
2023
£
£
Trade debtors
784
Prepayments and accrued income
16,343
18,506
Other debtors
71
-------
-------
16,343
19,361
-------
-------
18. Investments
2024
2023
£
£
Other investments
165,960
171,030
--------
--------
The investment is held with Fundsmith LLP and is stated at market value.
19. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,329
2,304
Accruals and deferred income
4,795
6,889
Social security and other taxes
6,990
9,139
Other creditors
1
1
-------
-------
18,115
18,333
-------
-------
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 3,404 (2023: £ 3,652 ).
21. Analysis of charitable funds
Unrestricted funds
At 1 August 2023
Income
Expenditure
Gains and losses
At 31 July 2024
£
£
£
£
£
General funds
180,260
211,948
(279,318)
112,890
Fair value reserve
91,104
14,931
106,035
--------
--------
--------
-------
--------
271,364
211,948
(279,318)
14,931
218,925
--------
--------
--------
-------
--------
At 1 August 2022
Income
Expenditure
Gains and losses
At 31 July 2023
£
£
£
£
£
General funds
170,472
211,330
(201,542)
180,260
Fair value reserve
77,205
13,899
91,104
--------
--------
--------
-------
--------
247,677
211,330
(201,542)
13,899
271,364
--------
--------
--------
-------
--------
The fair value reserve represents the unrealised gain on the revaluation of the current asset investment to market value from cost.
22. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Current assets
237,040
237,040
Creditors less than 1 year
(18,115)
(18,115)
--------
--------
Net assets
218,925
218,925
--------
--------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
Current assets
289,697
289,697
Creditors less than 1 year
(18,333)
(18,333)
--------
--------
Net assets
271,364
271,364
--------
--------
23. Related parties
During the year there were no transactions with related parties.