ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
6. GRANTS FOR THE BENEFIT OF INDIVIDUALS
All grants made for the benefit of soldiers, former soldiers and their immediate families are paid through their parent regimental or corps charities. The total value of these grants made during the year was £3,050k (2025: £3,097k).
7. GRANTS TO OTHER CHARITIES AND ORGANISATIONS
The Charity, on behalf of the partnership of Army charitable funds, makes grants to national charities and occasionally other organisations which support soldiers, former soldiers, and their immediate families.
By the nature of Service charities and other charities supporting serving and former soldiers, many of Army Benevolent Fund’s trustees and senior management work closely with, or serve as trustees for, some of the charities listed below that receive grants from us. Where this applies, the trustee or member of the management team will not take part in the grant making decision process.
The total values of the grants made during the year for the Group and Charity were:
GRANTS FROM GENERAL FUNDS:
ELDERLY
Age In Spain
Age UK Lancashire
Age UK Waltham Forest
Broughton House
Care for Veterans (Queen Alexandra Hospital Home)
Erskine Hospital
Royal Commonwealth Ex-Services League
Royal Hospital Chelsea
Royal Star & Garter Home
EMPLOYMENT AND TRAINING
AFC Fylde Community Foundation
Building Heroes Education Foundation
Heritage Crafts Association
Highground
Mission Motorsport
On Course Foundation
Prisoners Education Trust
Recruit for Spouses
Forces Employment Charity
Royal British Veterans Enterprise Ltd
The Open University
The Poppy Factory
Turn to Starboard (T2S)
Veterans into Logistics
X-Forces
ARMY BENEVOLENT FUND
Notes to the
statements for the year ended 31 March 2026
FAMILY
Army Families Federation
Army Welfare Service
Army Widows’ Association
Aurora New Dawn
Children First (Royal Scottish Society for Prevention of Cruelty to Children)
Clervaux Trust
COBSEO, The Confederation of Service Charities
Dandelion Military Families
Families Activity Breaks
Forces Children Scotland
Give Us Time
Hong Kong LEP Trust
Little Troopers/ My Daddy is a Soldier Adventures
National Gulf Veterans & Families Association
Queen Elizabeth Hospital Birmingham - Fisher House
Reading Force
Re-Vitalise
SafeLives (CAADA)
Scotty’s Little Soldiers
Shared Parenting Scotland
SSAFA Central Offices
SSAFA CMS Costs
Style For Soldiers
Veterans Scotland
Veterans with Dogs
Armed Forces & Veterans
Armed
Haig
ARMY BENEVOLENT FUND
Notes to the
statements for the year ended 31 March 2026
WELLBEING
Alabaré
AFC Fylde Community Foundation
Anxious Minds
Armed Forces Equine Charity
Army - Beyond the Warzone
Aurora New Dawn
Bay Veteran’s Association
Bound by Veterans
Blackpool FC Community Trust
Brooke House Health and Wellbeing centre
Change Mental Health Ltd
Climb2Recovery
COBSEO, The Confederation of Service Charities
Combat Stress
Community Drug and Alcohol Recovery Services
Defence Medical Welfare Service
Dundee Therapy Garden
East Durham Veterans Trust
Vector24 (formerly Fares4Free)
Fighting With Pride (FWP)
Glen Art/Bravehound
Highground
HorseBack UK
Hounds for Heroes
Humankind (Waythrough Charity)
Icarus
Improving Lives Plymouth
James’ Place Charity
Jersey Joint Services Veterans Assoc (JJSVA)
Lord Kitchener Memorial
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
7. GRANTS TO OTHER CHARITIES AND ORGANISATIONS (CONTINUED)
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
7. GRANTS TO OTHER CHARITIES AND ORGANISATIONS (CONTINUED)
WELLBEING (CONTINUED)
Spinal Injuries Association
SSAFA CMS Costs
SSAFA Forces Help
Start360
Step Together Volunteering
Style for Soldiers
Taxi Charity for Military Veterans
The Bolton Guild of Help
The Bridge for Heroes
The Gwennili Trust
The Not Forgotten Association
The Prison Radio Association
The Ripple Pond
The Warrior Programme
Thistle Health and Wellbeing
Together Co
Valley Veterans
VC Gallery
Veterans Contact Point
Veterans’ Growth
Veterans Outdoors
Veterans Outreach Support
Veterans Scotland
Veterans Support Garden
Vine Centre
Walking with The Wounded
Waterloo Uncovered
We Are With You
Woody’s Lodge
Climb 2 Recovery
Mission Motorsport
Forces Employment Charity
The Poppy Factory
Families Activity Breaks (Child Bereavement Charity)
Forces Children Scotland
National Gulf Veterans & Families Association
SSAFA Central Office
Style For Soldiers
Armed Forces & Veterans Launchpad
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
7. GRANTS TO OTHER CHARITIES AND ORGANISATIONS (CONTINUED)
GRANTS FROM
WELLBEING
Alabaré
Armed Forces Equine Charity
Blackpool FC Community Trust
Climb2Recovery
Combat Stress
Vector24 (formerly Fares4Free)
Highground
Icarus
PTSD Resolution CIO
Rock 2 Recovery
SSAFA Forces Help
Step Together Volunteering Style for Soldiers
The Bolton Guild of Help
The Not Forgotten Association
The Warrior Programme
VC Gallery
Veterans Outdoors
Walking With The Wounded Woody’s Lodge
(CONTINUED):
Building Heroes Education Foundation
Forces Employment Charity
Mission Motorsport
On Course Foundation
Heritage Crafts Association
The Open University
The Poppy Factory
Veterans into Logistics
ARMY BENEVOLENT FUND
7. GRANTS TO OTHER CHARITIES AND ORGANISATIONS (CONTINUED)
GRANTS FROM RESTRICTED FUNDS (CONTINUED):
Notes to the financial statements for the year ended 31 March 2026 FAMILY
Army Families Federation
SSAFA Central Office
Style For Soldiers
WELLBEING
Alabaré
Armed Forces Equine Charity
Blackpool FC Community Trust
Combat Stress
Falkland Islands Memorial Chapel Trust
Vector24 (formerly Fares4Free)
Icarus
SSAFA Forces Help Taxi Charity for Military Veterans The
The
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
7. GRANTS TO OTHER CHARITIES AND ORGANISATIONS (CONTINUED)
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
8. GRANT MAKING AND OTHER SUPPORT COSTS
Support costs
Central and administrative
Support costs
Other costs
Advertisement and promotion
Governance costs
Central and administrative
Auditor’s remuneration (note 8b)
Trustee expenses
8b
INCOME / EXPENDITURE FOR THE YEAR
This is stated after charging:
Auditor’s remuneration - audit services
Auditor’s remuneration - taxation advisory services
Depreciation of tangible fixed assets
Amortisation of intangible assets
Payments under operating leases: - land and buildings - other assets
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
STAFF COSTS - GROUP AND CHARITY
TOTAL STAFF COSTS COMPRISED:
Wages and salaries
Social security costs
Pensions contributions
The Charity employed an average staff of 90 (13 part-time) (2025: 84 including 11 part-time) of whom 58 (2025: 55) were employed at the Charity’s head office. A small number of these individuals were on short-term contracts to cover vacant posts and also from time to time we engage a limited number of contract and agency staff. There is £96k included in staff costs related to settlement (2025: £11k).
The number of employees whose employee benefits exceeded £60,000 was:
£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000
£100,001 - £110,000
£140,001 - £150,000
The key management personnel for the Charity comprise the trustees and the executive board (senior management board). The trustees received no remuneration or benefitsin-kind during the year (2025: £nil). They were reimbursed expenses during the year as stated in note 10.
10. RELATED PARTY TRANSACTIONS
No trustees have been remunerated for their role as a trustee. Nine trustees were reimbursed £4k for travel expenses which had been directly incurred during the year under review (2025: £3k to eight trustees).
During the year, trustees made nil donations to the charity (2025: £5k). Business interests of one of the trustees donated £12k to the charity (2025: £10k). These donations were received without conditions.
Trustees and members of key management of the Army Benevolent Fund hold trustee positions and have connections with other organisations with military
The total remuneration, including employer’s pension contributions and employer’s National Insurance contributions paid to the executive board, amounted to £733k (2025: £721k).
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
11. INTANGIBLE FIXED ASSETS – GROUP AND CHARITY
At 1 April
Additions during the year
At 31 March
Amortisation
At 1 April
Charge for the year
At 31 March
12.
TANGIBLE FIXED ASSETS – GROUP AND CHARITY
At 1 April
Additions during the year
Disposals during the year
At 31 March
Depreciation
At 1 April
Charge for the year
Disposals for the year
At 31 March
Net book value at 31 March
connections. Grants may be made to these charities by the Army Benevolent Fund. These are made in accordance with the charity’s normal processes and within the parameters of its conflicts of interests policy.
During the year ending 31 March 2026, the Charity charged its subsidiary £5k for management fees relating to Soldiers’ Trading Limited’s activities (2025: £5k). Soldiers’ Trading Limited donated £15k to Army Benevolent Fund from its profits (2025: £11k). At 31 March 2026, there was a balance of £36k (2025: £34k) owed to Army Benevolent Fund by Soldiers’ Trading Limited.
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
13. INVESTMENTS – GROUP AND CHARITY
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
14. ASSOCIATES
The Soldiers’ Fund (TSF) was incorporated as a tax-exempt charity in the United States in 2012, its primary purpose being to raise funds for British Army personnel, past and present, and their families in times of need. As the Army Benevolent Fund can appoint three of the eleven directors of TSF, it is treated as an associate undertaking for the purposes of the consolidated financial statements. The Charity’s share of TSF’s deficit as at 31 March 2026 was £2k (2025: surplus, £1k). The Charity’s share of TSF’s
assets was £10k (2025: £12k).
15. OTHER DEBTORS AND PREPAYMENTS
Prepayments and accrued income
Other debtors
Due from subsidiary
Total
All of the investments listed above are held by the Charity, including 100% of the
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Deferred income
At 1 April
Arising during the year
Released during the year
At 31 March
Trade creditors
Accrued expenses
Social security costs
Other creditors
Total
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
17. PROVISIONS FOR LIABILITIES – GROUP AND CHARITY
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)
The Charity renewed an eight-year lease to January 2032 with the current landlord. The new lease signed 28 June 2024 sets out that no dilapidations will be payable by the Charity. Accordingly, the dilapidations provision was released in the prior year.
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Funds
Designated Funds Afghanistan Fund Current Operations Fund
Restricted Funds
Commandos Benevolent DEFLOG VQ Trust Falklands Fund
George Purse Trust Fund
Expendable endowment
Edward Gostling Fund
BENEVOLENT FUND
Notes to the
statements for the year ended 31 March 2026
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)
ARMY BENEVOLENT FUND
Notes to the
statements for the year ended 31 March 2026
19. GENERAL FUNDS FINANCIAL ACTIVITY – GROUP AND
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
20. DESIGNATED FUNDS FINANCIAL ACTIVITY – GROUP AND CHARITY
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
20. DESIGNATED FUNDS FINANCIAL ACTIVITY – GROUP AND CHARITY (CONTINUED)
Income
Income from
Total income
Expenditure
Grants to other charities
Grants for the benefit of individuals
Grant making and other support costs
Total expenditure
Net (expenditure)/gains before net gains on investments
Net gains on investments
NNet (expenditure)/gains for the year
Net (expenditure) before net gains/ (losses) on investments
Net gains/(losses) on investments
Net (expenditure) for the year
Net movement in funds
Designated Funds, within Unrestricted Funds, are set aside at the discretion of the trustees for specific purposes and time. The Designated Funds now consist of the Current Operations Fund (COF) and the Afghanistan Fund.
+ The Current Operations Fund was established in 2007 to provide a continuing fund for soldiers, former soldiers, and their dependants in times of need who are suffering distress as a result of military operations being undertaken at that time and all subsequent military operations. It will continue in place until such time as all eligible beneficiaries no longer survive.
+ The Afghanistan Fund was set up to support Army families affected by the Afghanistan campaign. Similarly, this will be time limited.
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
21. RESTRICTED FUNDS FINANCIAL ACTIVITY – GROUP AND CHARITY (CONTINUED) 21. RESTRICTED FUNDS FINANCIAL
Grants for the
Grant
Total expenditure
Net (expenditure)/gains before net gains on investments
Net gains on investments
Net (expenditure)/gains for the year
Net movement in funds
Fund balances at 1 April
Fund balances at 31 March
Expenditure
Grants to other charities
Grants for the benefit of individuals
Grant making and other support costs
Total expenditure
Net (expenditure)/gains before net losses on investments
Net (losses) on investments
Net (expenditure) for the year
Net movement in funds
Fund balances at 1 April
Fund balances at 31 March
The Restricted Funds consist of:
+ The Army Commandos’ Benevolent Fund gave the bulk of its winding up funds as a grant to the Amy Benevolent Fund for the assistance of any such persons who have served in the Commandos and in making grants to charitable organisations which directly or indirectly benefits the persons or dependents of persons who have served in the Commandos. There have been no cases presented this year where an individual met the criteria for eligibility for funding from the Commandos fund.
+ The DEFLOG VQ Trust was set up from the funds received from The DEFLOG VQ Trust, which folded into the Army Benevolent Fund four years ago. The funds are restricted to advance education and training and to relieve unemployment; and relieve the needs of people who are at risk of becoming socially excluded, through the promotion of social inclusion.
+ The Falklands Fund, which exists to meet the needs of soldiers, former soldiers and their dependants who have suffered distress as a result of the Falklands conflict.
+ The George Purse Trust Fund which exists to make grants that would not otherwise be provided out of Charity Unrestricted funds to support the welfare needs of exArmy personnel, dependants and carers residing in the former boundaries of the counties of Glamorgan and Monmouthshire.
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
22. ENDOWMENT FUNDS FINANCIAL ACTIVITY – GROUP AND CHARITY
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
23. FINANCIAL INSTRUMENTS
Financial
24. PENSION COSTS
Total
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
25. OPERATING LEASE COMMITMENTS
At 31 March 2026 the Charity had future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
Later than one year and not later than five years
Later than five years
Not later than one year
Later than one year and not later than five years
Later than five years
The lease between the Army Benevolent Fund and Grosvenor Estate Belgravia covers part of the first and second floors, and the entire third floor at Mountbarrow House.
ARMY BENEVOLENT FUND
Notes to the financial statements for the year ended 31 March 2026
27. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
Income and endowments from:
Donations and legacies
The public
Donations and Appeals Income
Legacies
Army personnel
From individuals in Army Units
Regimental and Corps Benevolent Funds
Army Dependants Trust
Investments
Other trading activities
Total Income
Expenditure on:
Trading activities
Other costs of raising funds
Charitable activities
Grants to Regiments and Corps for the benefit of individuals
Grants to other charities
Grant making and other support costs
Total expenditure
Net (expenditure)/income before net gains/(losses) on investments
Net gains/(losses) on investments
Net (expenditure)/income for the year
Net
At 31 March 2025, the Army Benevolent Fund had capital commitments in respect of its CRM software.
Notes to the financial statements for the year ended 31 March 2026
SOLICITORS
Wedlake
INVESTMENT MANAGERS
BlackRock Investment Management (UK) Limited 12 Throgmorton Avenue
3AB
TRADING SUBSIDIARY COMPANY Soldiers’ Trading Limited (Registered No. 07243995)
9RB
HEAD OFFICE
Army Benevolent Fund, Mountbarrow House, 6-20 Elizabeth Street, London SW1W 9RB
T. 020 7901 8900
E. supportercare@armybenevolentfund.org
EAST ANGLIA
Army Benevolent Fund, Building PO4, Room 6, Merville Barracks, Circular Road South, Colchester, Essex CO2 7UT
T. 01206 817 105
E. eastanglia@armybenevolentfund.org
EAST MIDLANDS
Army Benevolent Fund, Chetwynd Barracks, Chilwell, Beeston, Nottingham NG9 5HA
T. 01159 572 103
E. eastmidlands@armybenevolentfund.org
LONDON
Army Benevolent Fund, Wellington Barracks, London SW1E 6HQ
T. 0203 903 6030
E. london@armybenevolentfund.org
NORTHERN IRELAND
Army Benevolent Fund, Building 115, Thiepval Barracks, Lisburn BT28 3NP
T. 02892 678 112
E. ni@armybenevolentfund.org
NORTH EAST
Army Benevolent Fund, Hipswell Lodge, Smuts Road, Catterick Garrison, North Yorkshire DL9 3AX
T. 01748 874 127
E. northeast@armybenevolentfund.org
NORTH WEST
Army Benevolent Fund
Weeton Barracks, Preston PR4 3JQ
T. 01772 260 356
E. northwest@armybenevolentfund.org
SCOTLAND
Army Benevolent Fund, The Castle, Edinburgh EH1 2YT
T. 0131 376 4008
E. scotland@armybenevolentfund.org
SOUTH EAST
Army Benevolent Fund, Robertson House, Camberley, Surrey, GU15 4NP
T. 01276 412 961
E. southeast@armybenevolentfund.org
SOUTH WEST
Bulford Office
Army Benevolent Fund, Bldg 750, Picton Barracks, Bulford Camp, Salisbury, Wiltshire SP4 9NY
T. 01980 672 337 (Bulford office)
E. southwest@armybenevolentfund.org
Exeter Office
Army Benevolent Fund, Wyvern Barracks, Exeter, Devon EX2 6AR
T. 01392 496 412 (Exeter office)
E. southwest@armybenevolentfund.org
WALES
Army Benevolent Fund, Maindy Barracks, Whitchurch Road, Cardiff CF14 3YE
T. 02920 377 080
E. wales@armybenevolentfund.org
WEST MIDLANDS
Army Benevolent Fund, Building V5, Venning Barracks, Donnington, Telford, Shropshire TF2 8JT
T. 01952 674 369
E. westmidlands@armybenevolentfund.org © 2024 Army Benevolent Fund. Army Benevolent Fund is a registered charity in England and Wales (1146420) and Scotland (SC039189)