{"content":{"layouts":[{"type":"fullWidth","areas":[{"items":[{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18133/statement-of-cash-flows-2021-22.jpg","width":1654,"height":2039,"altText":"Table showing Scouts statement of cash flows 2021-22","caption":"","link":null},{"gridType":"RichTextBlock","content":"\u003Ch4 class=\u0022p1\u0022\u003E\u003Cspan class=\u0022s1\u0022\u003E1. Constitution\u003C/span\u003E\u003C/h4\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe Scout Association is incorporated by Royal Charter and is a registered charity whose purpose is to promote the development of young people in achieving their full physical, intellectual, social and spiritual potentials, as individuals, as responsible citizens and as members of their local, national and international communities.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Ch4 class=\u0022p1\u0022\u003E\u003Cspan class=\u0022s1\u0022\u003E2. Scope of the financial statements \u003C/span\u003E\u003C/h4\u003E\n\u003Cp class=\u0022p1\u0022\u003EThese financial statements cover the activities directly controlled by The Scout Association. The activities of the Scout Councils of Northern Ireland, Scotland and Wales together with Scout Counties, Areas, Regions, Districts and Groups are not reflected in these financial statements. Those bodies are separate autonomous charities that are affiliated to The Scout Association..\u003C/p\u003E\n\u003Ch4 class=\u0022p1\u0022\u003E\u003Cspan class=\u0022s1\u0022\u003E3. Accounting policies \u003C/span\u003E\u003C/h4\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ea. Basis of preparation of consolidated financial statements \u003Cbr /\u003E\u003C/strong\u003EThe financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Statement of Recommended Practice, Accounting and Reporting by Charities, applicable to charities preparing their accounts in accordance with FRS 102, known as the Charities SORP (FRS 102).\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe Scout Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.\u00A0\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe financial statements consolidate the financial statements of The Scout Association and its subsidiary companies. The financial year end of \u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u003C/span\u003Eeach of the subsidiary companies is 31 March.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe Balance Sheets and Profit and Loss accounts of the subsidiaries have been consolidated on a line by line basis as required by the Statement of Recommended Practice.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EOn acquisition of a business, all of the assets and liabilities that exist at the date of acquisition are recorded at their fair values reflecting their condition at that time. All changes to those assets and liabilities and the resulting surpluses that that arise after acquisition are charged to the post-acquisition Statement of Financial Activities.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe financial statements are prepared on the historical cost basis with the exception of investments, which are stated at fair value.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Eb. Going concern\u003C/strong\u003E \u003Cbr /\u003EHaving reviewed financial plans and cash flow forecasts, the Trustees have a reasonable expectation that the charity has adequate resources to continue operating for the foreseeable future. Accordingly, they believe that the going concern basis remains the appropriate basis on which to prepare the financial statements.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ec. Recognition of income\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/strong\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003ENational membership subscriptions\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EMembership subscriptions are payable in advance for a year to 31 March and are recognised in the year of membership benefit.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003ELegacies\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003ELegacies are accounted for when the Association becomes entitled to them, where receipt is probable and where their value can be established with reasonable certainty. Where legacies include non-cash items these are included in income at the lower of probate value and market value at the date of receipt.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EInsurance income\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EInsurance broking commission is recognised at the date of inception of the policy. The amount recognised is the total brokerage due to the company less an overall provision for unearned commission. Profit related commission is recognised when it can be reliably calculated and forecast to be received.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003ECommercial activities\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EIncome from conference centres, sponsorship, National Scout Adventure Centres, and other income is accounted for when the Association is entitled to the income, the amount can be quantified with reasonable accuracy and the probability of receipt of the income is more likely than not.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EInvestment income\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EDividends are accounted for on a receipts basis. Interest is accounted for on an accruals basis and includes all amounts earned up to the balance sheet date. Associated tax recoveries are included for all amounts shown as income.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EGifts in kind\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EProperties, investments, heritage assets, other fixed assets and any other assets or services donated to the charity are included as donated income at their estimated market value at the time of receipt.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ed. Allocation of income and costs\u003C/strong\u003E \u003Cbr /\u003EAll expenditure is accounted for on an accruals basis and is allocated as described below.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EActivities for generating funds and fundraising trading: costs of goods sold and other costs.\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EIncome and expenditure from Scout Store Limited, World Scout Shop Limited, Scout Services Limited.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003E\u003Cem\u003ECharitable activities\u003C/em\u003E\u003C/strong\u003E \u003Cbr /\u003EThis comprises income from the provision of services supporting the objects of the Association through operations including the Information Centre, insurance services, and Scouting magazine as well as the National Activity Centres. 20% of accommodation and training fees receivable at the Gilwell Conference Centre are also included under this heading, with the remaining income included in activities for generating funds.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003ECharitable activities have been analysed under the following headings: \u2013 Youth programme \u2013 Development of Scouting \u2013 Adult support and training \u2013 Support and services to members The Association\u2019s activities are largely financed by national membership subscriptions and by the surpluses generated by its trading subsidiaries rather than income from charitable activities. The activities have been classified as described in note 6. Where possible the income and costs relating to a department or cost centre are allocated in full to one of the above categories, but in practice many departments have an involvement in more than one activity. The other major allocations are set out below.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18134/statement-of-cash-flows-2021-22-1.jpg","width":1493,"height":553,"altText":"Table showing the percentages for certain activities in Scouts 2021-22","caption":"","link":null},{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003ESupport costs\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EThese are costs incurred directly in support of the objects of the Charity. The costs are attributed to the activities that they support. Where a department supports all the Charity\u2019s activities the costs have been apportioned pro-rata to the staff resources directly engaged in that activity. The percentages that apply are:\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003ETrading \u2013 6%\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EYouth programme \u2013 20%\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EDevelopment of Scouting \u2013 29%\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EAdult support and training \u2013 26%\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003ESupport and services to members \u2013 19%\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EGrants payable\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EGrants payable are included in the Statement of Financial Activities as expenditure in the period in which the award is made. Grants which have been approved by the Trustees and agreed \u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u003C/span\u003Ewith other organisations but which are unpaid at the year end are accrued. Grants where the beneficiary has not been informed or has to meet certain conditions before the grant is released are not accrued.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EGovernance costs\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EThese are the costs associated with the governance arrangements of the Charity which relate to compliance with legal and statutory requirements of the Charity as opposed to those costs associated with fundraising. They include audit fees and the costs of Trustees\u2019 meetings.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ee. Intangible fixed\u003C/strong\u003E \u003Cbr /\u003Eassets IT software is capitalised and written off over the term of the related contract, between 2 and 5 years. Systems Development is capitalised and once the project have completed they are written off over 5 years. Goodwill arising on acquisition of an undertaking is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. It is capitalised and amortised through the Statement of Financial Activities over the Trustees\u2019 estimate of its useful economic life which can range from 5 to 10 years. Impairment tests on the carrying value are undertaken at the end of the first full year after acquisition and in any other subsequent period if events or changes in circumstances indicate that the carrying value may not be recoverable. The cost of acquiring a brand licence is written off over the term of the related contract.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ef. Heritage fixed assets\u003C/strong\u003E \u003Cbr /\u003EThe Association maintains a heritage collection of around 250,000 items. Through an active and innovative programme of collecting, interpreting and engagement, the Heritage Collection helps create connections between members of The Scout Association, both past and present, and the wider community. The Heritage \u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u003C/span\u003ECollection is managed by the Headquarters\u2019 Heritage Service. To ensure its ongoing representation of Scouting\u2019s story the Heritage Service continues to collect both historical and contemporary material. New acquisitions are normally made by donation with occasional low cost purchases. New material is acquired in accordance with The Scout Association\u2019s Collecting Policy.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EHeritage assets are carried at fair value. The Association has made reference to the latest available external valuations in forming their assessment of period end fair value. Gains and losses on revaluation are recognised through \u2018Other recognised gains\u2019 in the Statement of Financial Activities.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe Association will occasionally approve the disposal of elements of the Collection, this process is carried out in accordance with the Code of Ethics and industry best practice as dictated by the Arts Council England Accreditation Standard. Disposal will be judged against the Association\u2019s Collecting Policy. Disposal will be carried out in line with the Disposal Policy and follow the Disposal Procedure. Disposal of accessioned material only takes place with the approval of the Trustees or their designated representative. Disposal of non-accessioned items takes place with the approval of the Director of Commercial Services.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EExpenditure that is in the Trustees\u2019 view required to conserve or prevent further deterioration of individual items is recognised as expenditure when it is incurred. The Heritage Service actively seeks external funding to support the delivery of this work.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Eg. Other fixed assets\u003C/strong\u003E \u003Cbr /\u003EOther fixed assets are stated at cost. Where land and buildings are acquired together it is assumed that the buildings represent 50% of the initial cost. Investment in systems development in support of the charity\u0027s strategy is capitalised as a tangible fixed asset. Depreciation is calculated to write off the cost of assets by equal annual amounts over their expected useful lives. Assets costing less than \u00A31,000 \u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u003C/span\u003Eare not capitalised. No depreciation is provided on freehold land.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EDepreciation rates used are:\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EFreehold property \u2013 50 years, with 10 years for replacement elements\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003ELeasehold property \u2013 the shorter of the lease period or 50 years\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EFurniture fittings and equipment \u2013 4 to 5 years\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EMotor vehicles \u2013 5 to 10 years Gains or losses on the disposal of fixed assets are reflected in net income/expenditure for the year shown in the Statement of Financial Activities.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EImpairment reviews on fixed assets are carried out each year and any asset with a carrying value materially higher than its recoverable or useful value is written down accordingly.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EFixed assets held for investment purposes are stated at market value on the balance sheet date.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EAny gains or losses on the disposal or revaluation of investment assets are as shown net gains/(losses) on investments in the Statement of Financial Activities.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Eh. Investments\u003C/strong\u003E \u003Cbr /\u003EThe Scout Association holds investments both in order to generate income for the support of charitable objectives and to provide assets to meet the need of reserves, identified in the reserves policy. Investments are stated at current market value on the balance sheet date unless there\u2019s evidence of a different fair value.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EGains or losses arising during the year are disclosed in the statement of financial activities and in the notes to the financial statements.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ei. Current asset investments\u003C/strong\u003E \u003Cbr /\u003EThe funds deposited by Scout Groups in the Short Term Investment Service are held on short-term deposit with an external investment manager. These short-term deposits are not held by the Scout Association for investments \u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u003C/span\u003Epurposes and are included in the balance sheet at fair value as current asset investments. Movements in these funds are shown in the notes to the financial statements.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ej. Stocks Stocks\u003C/strong\u003E \u003Cbr /\u003Eare valued at the lower of cost and estimated net realisable value. Cost is calculated using the current purchase price method and consists of the original cost of goods without any addition for overheads.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ek. Provisions\u003C/strong\u003E \u003Cbr /\u003EA provision is recognised in the balance sheet when the Association has an obligation as a result of a past event and it is probable that an outflow of economic benefits that can be reliably measured will be required to settle that obligation.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003El. VAT\u003C/strong\u003E \u003Cbr /\u003EThe Association is partially exempt for VAT purposes and is not able to reclaim all the VAT it pays. It is not practicable to allocate irrecoverable VAT to the expenses and assets concerned, and irrecoverable VAT is written off.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Em. Leases\u003C/strong\u003E \u003Cbr /\u003ESignificant assets held under finance leases and the related lease obligations are included at the fair value of the leased assets at the inception of the lease. Depreciation on leased assets is calculated to write off this amount on a straight-line basis over the shorter of the lease term and the useful life of the asset.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003ERentals payable are apportioned between the finance charge and a reduction of the outstanding obligations.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EAll other leases have been treated as operating leases and the rentals written off as they are paid because of the insignificant amounts involved.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003En. Pension costs\u003C/strong\u003E \u003Cbr /\u003EContributions payable to The Scout Association Pension Scheme are charged to the Statement of Financial Activities so as to spread the cost of pensions over the working lives of employees in the scheme. The pension \u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u003C/span\u003Echarge is calculated on the basis of actuarial advice.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe pension scheme liabilities are measured using a projected unit method and discounted at an AA sterling corporate bond rate. The pension scheme deficit is recognised in full on the balance sheet.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe current service cost and net return on the scheme\u2019s assets and liabilities for the year is allocated across the resources expended categories in the Statement of Financial Activities. The actuarial gain on the scheme for the year is included in the gains/(losses) section of the Statement of Financial Activities.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EContributions towards personal pension policies, which are defined contribution schemes, are charged to the Statement of Financial Activities as they are incurred.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Eo. Financial assets\u003C/strong\u003E \u003Cbr /\u003EFinancial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at cost, less any impairment.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ep. Financial liabilities\u003C/strong\u003E \u003Cbr /\u003EFinancial liabilities are classified according to the substance of the financial instrument\u2019s contractual obligations, rather than the financial instrument\u2019s legal form. Financial liabilities, excluding derivatives, are \u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u003C/span\u003Einitially measured at transaction price (including transaction costs) and subsequently held at amortised cost.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Eq. Forward currency contracts\u003C/strong\u003E \u003Cbr /\u003EThe Scout Association enters into forward contracts for the purchase of currency in order to manage its exchange rate exposure relating to the World Scout Jamboree and other overseas events. Hedge contracts are measured at fair value at each reporting date.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EWhere there is a change in exposure at the balance sheet date, through movement in the forward exchange rate from the contract rate, that change is included in expenditure in the statement of financial activities.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Er. Judgements in applying accounting policies and key sources of estimation uncertainty\u003C/strong\u003E \u003Cbr /\u003EIn preparing these financial statements, the Trustees have made the following judgements:\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe determination of whether fixed asset properties owned by the Scout Association are held for operational use, and so are classed as tangible fixed assets, or whether they are classed as investment properties.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe determination of whether or not there are indications of impairment of the Scout Association\u2019s tangible and intangible assets, including goodwill, taking into consideration the economic \u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u003C/span\u003Eviability and expected future financial performance of the asset.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe determination of appropriate provision for claims, supported by legal advice.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe determination of appropriate financial and demographic assumptions in valuing the defined benefit pension liability in line with FRS 102 requirements, supported by actuarial advice.\u003C/p\u003E\n\u003Ch4 class=\u0022p1\u0022\u003E\u003Cspan class=\u0022s1\u0022\u003E4. Nature of funds \u003C/span\u003E\u003C/h4\u003E\n\u003Cp class=\u0022p1\u0022\u003EAll funds are identified as identified as falling into one of three categories.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EEndowment funds\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EEndowment funds are those received to be held as capital on a total returns basis with only the income available to be spent. Subsequent gains or losses on the disposal of the underlying assets of the fund become part of the capital.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003ERestricted funds\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003ERestricted funds are those received which have been earmarked for a special purpose by the donor or the terms of an appeal.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EUnrestricted funds\u003C/strong\u003E\u003C/em\u003E \u003Cbr /\u003EUnrestricted funds are those received, which are not subject to any special restriction. They are divided between general funds and designated funds. Designated funds comprise amounts set aside by the Trustees to be used for particular purposes.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18135/statement-of-cash-flows-2.jpg","width":1517,"height":1907,"altText":"Table showing Scouts income and endowments 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18137/statement-of-cash-flows-3.jpg","width":1533,"height":1571,"altText":"Table showing Scouts expenditure 2021-22","caption":"","link":null},{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022p1\u0022\u003ECharitable activities have been analysed into four categories as explained in note 3.d.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003ECosts are allocated using the principles explained in that note. Youth programme includes the various educational activities in which members participate. Development activities are those which are focused on growing our movement. Adult support and training includes those activities which assist leaders and other adults involved in Scouts. Support and services to the movement includes those activities that help ensure the safety and safeguarding of members, which underpin the activities of Scout Groups.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18138/statement-of-cash-flows-4.jpg","width":1539,"height":1975,"altText":"Table analysing grants to local Scouting and other expenditure 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18139/statement-of-cash-flows-5.jpg","width":1542,"height":1969,"altText":"Table showing Scouts staff costs 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18140/statement-of-cash-flows-6.jpg","width":1516,"height":2023,"altText":"Table showing Scouts pension scheme expenditure 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18141/statement-of-cash-flows-7.jpg","width":1524,"height":2037,"altText":"Tables showing accounts recognised in Scouts Statement of Financial Activities, 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18142/statement-of-cash-flows-8.jpg","width":1521,"height":1817,"altText":"Table showing adjustments to assumptions 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18149/statement-of-cash-flows-9.jpg","width":1513,"height":1272,"altText":"Table showing Scouts intangible fixed assets 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18150/statement-of-cash-flows-10.jpg","width":1558,"height":1864,"altText":"Table showing Scouts\u0027 heritage fixed assets for 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18151/statement-of-cash-flows-11.jpg","width":1527,"height":1480,"altText":"Table showing Scouts\u0027 tangible fixed assets for 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18152/statement-of-cash-flows-12.jpg","width":1520,"height":1259,"altText":"Table showing Scouts investment in subsidiary companies in 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18153/statement-of-cash-flows-13.jpg","width":1538,"height":1994,"altText":"Table showing Scouts\u0027 investment in subsidiaries in 2021-22","caption":"","link":null},{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022p1\u0022\u003EAll the listed investments are classified as tier 1 in the fair value hierarchy, being quoted prices in an active market. The investments have a credit rating of at least A. The listed investments are subject to market risk, with their value changing as market prices change. The Scout Association holds listed investments in support of the reserves policy and in 2021 Scout Insurance (Guernsey) Limited held investments for the purposes of insurance activities.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe Association paid \u00A325,015 investment management fees and commission charges to Cazenove Capital Management during the year (2021: \u00A38,000).\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022p1\u0022\u003EThe investment property at 65 Queens Gate, Baden-Powell House was sold in August 2021 for \u00A346 million.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18155/statement-of-cash-flows-14.jpg","width":1517,"height":490,"altText":"Table showing Scouts investment properties in 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18156/statement-of-cash-flows-15.jpg","width":1537,"height":1157,"altText":"Tables showing Scouts stocks and debtors figures in 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18157/statement-of-cash-flows-16.jpg","width":1536,"height":1172,"altText":"Tables showing Scouts current asset investments and creditors in 2021-22","caption":"","link":null},{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022p1\u0022\u003EScout Shops Limited arranged a \u00A33m loan under the government Coronavirus Business Interruption Loan Scheme with Barclays Bank, secured by a guarantee from The Scout Association. The loan was repayable in quarterly instalments over 5 years commencing September 2021. Interest was charged at 2.3% above a floating base rate commencing in September 2021. The loan was prepaid in full in December 2021.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18158/statement-of-cash-flows-17.jpg","width":1522,"height":954,"altText":"Tables showing Scouts\u0027 provisions for liabilities and contingent liabilities for 2021-22","caption":"","link":null},{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022p1\u0022\u003EThe Association puts young people first and their safeguarding and safety is paramount, but with the nature of our work there are claims made against the Scout Association. Taking account of legal advice, provision is made on a best estimates basis for those claims of which the Association is aware and for which it is assessed it is probable that the Association will be liable. Such claims are covered in part by commercial insurance policies and, in relation to the Association itself in the prior year, by insurance policies issued by Scout Insurance (Guernsey) Limited. The amount receivable from insurers to the extent that provision has been made is included in debtors.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EIn addition it is the Association\u2019s experience that incidents and/or claims may still be notified to the Association for events which occurred prior to 31 March 2022. Since the nature of any such incident or claim is not yet known, it is not possible for the Association to determine whether it is probable that the Association will be held liable or to estimate the amount of any consequential outflow of economic benefits. Therefore there exists an unquantifiable contingent liability in respect of such incidents and/or claims. As noted above the Association has arranged cover with commercial insurers for such claims and accordingly the Association is satisfied that any such claims that might arise would not present a significant financial risk to the Association.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18159/statement-of-cash-flows-18.jpg","width":1543,"height":1957,"altText":"Table showing Scouts\u0027 fund balances in 2021-22","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18161/statement-of-cash-flows-19.jpg","width":1532,"height":2000,"altText":"Table showing Scouts reconciliation of movement in funds for 2020-21","caption":"","link":null},{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Eb. Endowment funds - Consolidated and the Association\u003C/strong\u003E \u003Cbr /\u003EEndowment funds include the 1914 Endowment Fund, the King George VI Leadership Fund and 8 (2021: 6) other funds administered by the Association.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EIncome from the 1914 Endowment Fund and two others is unrestricted and credited to the General Fund.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EIncome from two funds is restricted and income from the remaining fund is paid to an external Scouting beneficiary.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ec. Restricted funds - Consolidated and the Association\u003C/strong\u003E \u003Cbr /\u003EThe main restricted funds are shown in note 18(a), comprising national and local development funds.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EFurther details of the funds available, and the process of applying to them for grants, are to be found at \u003Ca href=\u0022http://www.scouts.org.uk/grants\u0022\u003Ewww.scouts.org.uk/grants\u003C/a\u003E.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003E\u003Cstrong\u003Ed. Designated funds - Consolidated and the Association\u003C/strong\u003E \u003Cbr /\u003EThe fixed asset fund represents the value of the Association\u0027s tangible fixed assets, goodwill \u0026amp; licences, and heritage assets.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe World Scout Events Fund provides support to members attending World Scouting events, such as World Jamborees, the World Moot and the World Scout Conference.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe Capital Development Fund represents capital projects that have been approved by the Finance Committee to improve the safeguarding and operations of the charity, where the future commitment has not been incurred at the year end.\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18162/statement-of-cash-flows-20.jpg","width":1497,"height":1062,"altText":"Table showing Scouts analysis of net assets between funds","caption":"","link":null},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18163/statement-of-cash-flows-21.jpg","width":1515,"height":472,"altText":"Table showing Scouts other financial commitments and authorised expenditure for 2021-22","caption":"","link":null},{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022p1\u0022\u003EAt 31 March 2022 there was no capital expenditure authorised but not committed (2021: \u00A3nil).\u003C/p\u003E\n\u003Ch4 class=\u0022p1\u0022\u003E\u003Cspan class=\u0022s1\u0022\u003E21. Events occurring after the reporting period \u003C/span\u003E\u003C/h4\u003E\n\u003Cp class=\u0022p1\u0022\u003EThere have been no material events occurring after the reporting period.\u003C/p\u003E\n\u003Ch4 class=\u0022p1\u0022\u003E\u003Cspan class=\u0022s1\u0022\u003E22. Related party transactions \u003C/span\u003E\u003C/h4\u003E\n\u003Cp class=\u0022p1\u0022\u003EDuring the year 15 Trustees (2021: 2 Trustees) were reimbursed \u00A34,281 expenses (2021: \u00A3300) for travel and subsistence, incurred in their attending meetings and in the carrying out of their duties. Note 6 refers to trustee remuneration.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003ETransactions with the defined benefit pension scheme comprised agreed ongoing, deficit and administration payments of \u00A3617,000 (2021: \u00A3722,000) and in 2021 a one-off \u00A32,000,000 deficit payment in accordance with the agreed deficit reduction plan.\u003C/p\u003E\n\u003Cp class=\u0022p1\u0022\u003ETransactions with subsidiaries:\u003Cspan class=\u0022Apple-converted-space\u0022\u003E\u00A0\u003C/span\u003E\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"gridImageBlock","gtmId":"gtmId","gtmClass":"gtmClass","image":"/media/18164/statement-of-cash-flows-22.jpg","width":1514,"height":429,"altText":"Table showing Scouts\u0027 transactions with subsidiaries for 2021-22","caption":"","link":null},{"gridType":"RichTextBlock","content":"\u003Ch4 class=\u0022p1\u0022\u003E\u003Cspan class=\u0022s1\u0022\u003E23. Restatement of Systems Development \u003C/span\u003E\u003C/h4\u003E\n\u003Cp class=\u0022p1\u0022\u003EThe balance sheet at 31 March 2021 has been restated to reflect the reclassification of Systems Development as Intangible Fixed Assets.\u003C/p\u003E","gtmId":"","gtmClass":""}]}],"config":null}]},"prev":{"link":"/about-us/our-impacts-and-reports/scouts-annual-report-2021-22/balance-sheet/","title":"Balance sheet"},"next":{"link":"/about-us/our-impacts-and-reports/scouts-annual-report-2021-22/our-members/","title":"Our members"},"allParts":[{"link":"/about-us/our-impacts-and-reports/scouts-annual-report-2021-22/resurging-innovating-and-bringing-people-together/","title":"Resurging, innovating, and bringing people together"},{"link":"/about-us/our-impacts-and-reports/scouts-annual-report-2021-22/better-volunteering-for-a-stronger-movement/","title":"Better volunteering for a stronger 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