2021-03-31-accounts

			Page
Trustees' report			1-6
Statement oftrustees'		responsibilities
Independent examiner's		report
Statement offinancial	activities
Balance sheet			10
Notes to the financial	statements		11-18

Reference	and Administrative	Details
President			Admiral The Right Honourable		Baron	West ofSpithead		GCB
			DSC PC
Trustees			Major General Jeff Mason MBE (Chairman)
			Commander Andrew	Gordon-Lennox		Royal Navy (Vice
			Chairman)
			Mr David Albert
			Major General Alastair Bruce		ofCnonaich		OBEVR DL
			Ms Sukey Cameron	OBE
			Reverend David Cooper
			Mrs Sara Jones CBE DL
			Mr Robert Mason
			Rear Admiral Richard	Melly
			Brigadier Charles Page MBE
			Air Chief Marshal SirAndrew		Pulford	GCB	CBE
			Captain Martin Reed	RD*
			Mr Ron Sidell RIBA Dip. Arch
Administrator			Mrs Angela Perry MBE
Charity number			1037942
Principal Address			Pangbourne College
			Pangbourne
			Berkshire
			RG6 8LA
Bankers			National Westminster	Bank Pic
			Reading Market Place Branch
			13Market Place
			Reading
			Berkshire
			RG1 2EG
Solicitors			Ashurst LLP
			London Fruit and Wool Exchange
			1 Duval Square
			London
			E1 6PW
Investment	advisors		Investec Wealth & Investment
			2 Gresham Street
			London
			EC2V 7QP

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
		Notes		2021 E	2021 E	2021f	2020	2020 E	2020f
Income and endowments			from
Donations and legacies			2	41,044	10,164	51,208	36,797	12,420	49,217
Investments			3	26,025		26,025	29,505		29,505
Trading income			4				600		600
Total income				67,069	10,164	77,233	66,902	12,420	79,322
~E* ii
Raising funds			5	10,178		10,178	10,339		10,339
Charitable activities			6	29,113	5,208	34,321	31,442	14,108	45,550
Total resources
expended				39,291	5,208	44,499	41,781	14,108	55,889
Net gains/(losses)		on
investments			10	176,595		176,595	(106,305)		(106,305)
Net incoming/
(outgoing) resources
before transfers				204,373	4,956	209,329	(81,184)	(1,688)	(82,872)
Gross transfers
between funds				(21,654)	21,654
Net movement	in funds			182,719	26,610	209,329	(81,184)	(1,688)	(82,872)
Fund balances at 1
April 2020				1,071,166	40,697	1,111,863	1,152,350	42,385	1,194,735
Fund balances	at 31
March 2021				1,253,885	67,307	1,321,192	1,071,166	40,697	1,111,863

					2021	2020
				Notes	6	f
Fixed assets
Investments					1,155,064		963,990
Current assets
Debtors				13	5,695	7,766
Cash at bank and	in	hand			163,968	143,371
					169,663	151,137
Creditors: amounts		falling due within
one year				14	(3,535)	(3,264)
Net current assets					166,128		147,873
Total assets less	current		liabilities		1,321,192		1,111,863
Income funds
Restricted funds				15	67,307		40,697
Unrestricted funds					1,253,885		1,071,166
					1,321,192		1,111,863

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2021 6	2021	2021 6	2020 5	2020f	2020
Donations		and gifts	40,544	202	40,746	36,703		36,703
Legacies		receivable	500		500	94		94
Grants	&	donations-
Welfare	fund			9,962	9,962		12,420	12,420
			41,044	10,164	51,208	36,797	12,420	49,217
Donations		and gifts
General	Donations		6,620		6,620	6,745		6,745
Scots Guards Seats
Appeal			2,488		2,488	9,015		9,015
Memorial		Garden Plaque
Project			10,735		10,735
Friends	Donations		14,104		14,104	11,289		11,289
Gift Aid			6,284		6,284	5,221		5,221
Other			313	202	515	4,433		4,433
			40,544	202	40,746	36,703		36,703

		Unrestricted	Unrestricted
		funds	funds
		2021	2020
		6	5
Bond interest		1,348	1,372
Dividend	income	24,657	28,051
Interest	receivable	20	82
		26,025	29,505

4	Trading	Trading	income	income	income
							Unrestricted	Unrestricted
							funds	funds
							2021	2020
							6
	Chapel	Hire						600
5	Raising funds
							Unrestricted	Unrestricted
							funds	funds
							2021f	2020f
	investment			management			10,178	10,339
							10,178	10,339
6	Charitable			activities
							Running the	Running the
							memorial	memorial
							chapel	chapel
							2021	2020
							6	F
	Trust Secretary Costs						22,497	23,740
	Annual	Service Costs					354	10,461
	Newsletter			costs			5,208	5,008
							28,059	39,209
	Share ofsupport costs (see note 7)						4,005	3,499
	Share ofgovernance					costs (see note 7)	2,257	2,842
							34,321	45,550
	Analysis		by		fund
	Unrestricted				funds		29,113	31,442
	Restricted			funds			5,208	14,108
							34,321	45,550

Support		costs
			Support	Governance	2021	Support	Governance	2020
			costs	costs		costs	costs
			F	6	6		f	f
Chapel	Insurance		1,386		1,386	1,386		1,386
Sundry	Costs		661		661	26		26
Printing	&stationary		1,017		1,017	1,127		1,127
Website		costs	941		941
Building	maintenance
costs						960		960
Independent Examiners
Fees				1,500	1,500		1 500	1 500
Trustees'		Meetings		280	280		899	899
Trustees'		Liability
Insurance				477	477		443	443
			4,005	2,257	6,262	3,499	2,842	6,341
Analysed		between
Charitable		activities	4,005	2,257	6,262	3,499	2,842	6,341

2021	2020
Number	Number
Unrestricted	Unrestricted
funds	funds
2021	2020
6	f
176,595	(106,305)

						Listed
						investments
	Cost or valuation
	At 1 April	2020				963,990
	Additions					204,397
	Valuation	changes				179,548
	Increase/(decrease) in cash deposit account					(35,904)
	Disposals					(156,967)
	At 31 March		2021			1,155,064
	Carrying	amount
	At 31 March		2021			1,155,064
	At 31 March		2020			963,990
					2021 6	2020f
	Investments		at fair value comprise:
	Equities				825,725	771,116
	Fixed interest		securities		153,347	146,241
	Cash held	within the investment		portfolio	10,729	46,633
	Property				68,050
	Alternative	investments			97,213
					1,155,064	963,990
13	Debtors
					2021	2020
	Amounts	falling due within one year:			6	6
	Other debtors				2,609	5,974
	Prepayments		and accrued income		3,086	1,792
					5,695	7,766

14	Creditors: amounts	falling due within one year
			2021	2020
			6
	Trade creditors		270
	Other creditors		1,765	1,764
	Accruals and deferred	income	1,500	1,500
			3,535	3,264

16	Analysis of	net assets	between funds
			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2021 6	2021 6	2021 6	2020 f	2020 6	2020f
	Fund balances at 31
	March 2021	are
	represented	by:
	Investments		1,155,064		1,155,064	963,990		963,990
	Current assets/
	(liabilities)		98,821	67,307	166,128	107,176	40,697	147,873
			1,253,885	67,307	1,321,192	1,071,166	40,697	1,111,863