2021-12-31-accounts - The Grenadier Guards Charity

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Charity Commission	Charity Commission	The Grenadier Guards Charity was formed by a Charity Commission	The Grenadier Guards Charity was formed by a Charity Commission	The Grenadier Guards Charity was formed by a Charity Commission	The Grenadier Guards Charity was formed by a Charity Commission	The Grenadier Guards Charity was formed by a Charity Commission	The Grenadier Guards Charity was formed by a Charity Commission	The Grenadier Guards Charity was formed by a Charity Commission	The Grenadier Guards Charity was formed by a Charity Commission	The Grenadier Guards Charity was formed by a Charity Commission
		Scheme dated 17 September		2015 which			merged the Grenadier		Guards
		Regimental and Battalion	Charity,		The	Grenadier Guards 2		Battalion
		Suspended Animation Charity,			The	Grenadier Guards 3u		Battalion
		Suspended Animation Charity Battalion Relief Charity. The		and The Grenadier Guards Regimental Scheme took etfect on 1 January						and 2016
		following which the assets and Charities of the Grenadier		liabilities ofThe Regimental and Battalion Guards Common Investinent Fund were
		transferred to the new charity and that charity					closed,
Ex-ollicio	Trustee	The Regimental Lieutenant	Colonel		ofthe Grenadier Guards
		(Lieutenant General C RV	Walker		DSO)
Co-opted	Trustees	Brigadier DJH Madden, DL
		Captain C A G Bennett
		Lieutenant General Sir George Norton KCVO CBE
		The Rt Hon The Earl ofDerby,		DL
Election		Replacement Co-opted Trustees		are	appointed		by the Trustees
Regimental	Adjutant	Major JPW Gatehouse
Treasurer		Majoi' AJGreen
Address		Wellington Barracks
		Birdcage Walk
		London SW1E6HQ
Registered	Charity Number	1062257
Bankers		Lloyds TSBBank Plc Cox's4 King' s P0Box 1000	Auditors				Saffery Champness LLP 71 Queen Victoria Street London EC4V4BE
		Andover
		BX111LT
Solicitors		Wrigleys Solicitors LLP	Investment				Cazenove Capind
		19Cookridge Street	Managers				Management Limited
		Leeds LS23AG					12Moorgate
							London EC2R6DA
Property Managers		The Hedley Foundation					PJSmith Associates
		1 College Hill London EC4R2RA					The Old Place, Lockpath Dorney, Windsor SL46QQ

							2021	2020
							g
					Vnrestricted	Restricted	Total	Total
					Funds	Funds
Income from:
Donations and legacies Trading activities investments				2 3 4	46,169 10,641 137,515	96,853 80,229 61,904	143,022 90,870 199,419	115,032 44,086 244,630
Total income					194,325	238,986	433,311	403,748
Expenditure on;
Raising funds Charitable activities				5 6	79,965 255,058	30,917 262,453	110,882 517,511	94,151 560,375
Total resources	expended				335,023	293,370	628,393	654,526
hlet expenditure movements		before	investment		(140,698)	(54,384)	(195,082)	(250,778)
Other recogaised		gains	and losses
Realised and unreslised			gains/	13
(losses):
on investments					534,449	304,789	839,238	599,742
on properly					37,237	7,763	45,000	(435,000)
Net income/(expenditare)					430,988	258,168	689,156	(86,036)
Transfers between		funds		84	~48506	48506
Net movement	in	funds			382,482	306,674	689,156	(86,036)
Funds balance	brought		forward		6,636,349	3,856,865	10,493,214	10,579,250
Funds balaace	carried forward				7,018,831	4,163,539	11,182,370	10,493,214

		2021	2021		2020
	Notes		8
Irixed assets
Tangible fixed assets	12		691,998		687,169
Investmeiits	13		10,348,800		9,769,587
			11,040,798		10,456,756
Current assets
Stocks		3,172		3,221
Sundry debtors		39,513		27,579
Cash at bank and in hand		160,398		82989
		203,083		113,780
Current liabilities
Sundry creditors		(61,511)		(77,322)
Net current assets/(tiabihties)			141,572		36,458
Net assets			11,182,370		10,493,214
Funds
Restricted funds:
Relief in Need			1,371,975		1@96,581
Colonel's Fund			2,791,564		2,560384
Unrestricted funds			7,018,831		6,636,349
			11,182,370		10,493,214

					2021	2020
						f,
Net cash (used)/provided	by operating	activities (see
note below)					(419,427)	(515,670)
Cash flows from investing	activities
Investment income					199,419	244,630
Purchase oftangible fixed	assets				(7,599)	(2,950)
Proceeds fmm disposals oflixed assets
Purchase ofinvesi'ments					(1,531,532)	(2,067,016)
Proceeds on disposal ofinvestment					1,836 557	2 368963
Net cash provided/(used)	by investing	activities			496,845	543,627
Change in cash and cash	equivalents	in the	year		77941$	27„0157
Cash and cash equivalents	at 1 January				82 980	55 023
Cash and cash equivalents	at31December				160+98	82,9$0
NOTE					2021	2020
Reconciliation ofuet (expenditure)/income			to net
cash flow from operating	activities
Net (expenditure)/income	for the reporting		period	as
per the statement offlnancial activities					689,156	(86,036)
Adjustments for
Depreciation charges					2,770	3,072
Realised/unrealised (gains)/losses on investments					(839,238)	(599,742)
Unrealised (gains)/losses on property					(45,000)	435,000
Investment income					(199,419)	(244,630)
Decrease in stock					49	60
Decrease/(increase) in debtors					(11,934)	47,058
(Decrease)/increase in creditors					(15,811)	(70,452)
Net cash provided by operating activities					419427	515,670
Analysis ofcash and cash	equivalents
				At 1January	Movement	At 31
				2021	in the year	December 2021
				K
Cssb at bank snd in hand				82980	77,418	160,398

2,	Donations and legacies
							2021	2020
				Unrestricted		Restrictedf	Totalf	Total
	One Day's Pay Scheme					51,313	51,313	46,150
	Donations —Colonel's Fund					45,540	45,540	21,646
	Donations - other				46,169		46 169	47,236
					46,169	96,853	143,022	115,032
3,	Trading activities
							2021	2020
				Unreshictcd f		Restrictedf	Total f	Total
	Band Fund income				182		182	179
	Colonel's Fund fundraising Saleofregimental goods				10,459	80/29	80,229 10,459	29,037 14,870
					10,641	80,229	90,870	44,086
4.	Iavestment income
							2021	2020
			Unrestrictedf				Total	Total
	Dividends				39,355	8,135	47,490	75,582
	Dividends —Colonel's Fund					33,308	33,308	39,399
	Rental income				98,147	20,461	118,608	129,635
	Deposit interest				13		13	14
					137,515	61,904	199,419	244,630
							2021f	2020 f.
	Rents receivable:
	10High Street, Tenterden,	Kent					53,167	56,554
	7 and 15 High Street, Wimborne,		Dorset				50,479	37,167
	Land at Middle Green, Lsngley,		Siough,		Berkshire		2,650	2,650
	Sherborne						10,312	31,264
	Other income —wayleave	rent/grazing		land rent			2L000	2,000
							118,608	129,635

							2021	2020
					Unrestrictedf	Restricted	Totalf	Totalf
Colonel's	Fund fundraising
expenses						20,607	20,607	3,960
Cost ofregimental		goods		sold	27,982		27,982	23,133
Bund Fund	expenditure				2,530		2,530	1,610
investment	management			fees	40,982	8,544	49,526	45,091
Rental expenses					8471	I 766	10,237	26 367
					79,965	30,917	110,882	94,151
haritable	activities
							2021	2020
					Unrestrictedf	Restricted	Total	Total
Grants and	donations		(note 7)		108,337	189,778	298,115	322,274
Support costs (note			8)		146721	72,675	219,396	238,101
					255,058	262,453	517,511	560,375

Grants aml donations
				2021	2020	2020
				Total		Total
						K
Unrestricted specific:
Adventure and individual	training:
Battalion/Company			4,400		100
Officers' welfare: Battalion		masses	10,000		10,000
Sports, recreation and other
activities: Battalion/Company			47,000		47,000
Welfare grants —serving soldiers:
Education			1,550		300
Charitable donations			290		240
Recruiting and publicity			5217		3 781
				68,457		61,421
Unrestricted other grants:
Queen's Guard subsidy			1,498		1,610
First Guards Club					2,500
Sergeants' (Past and Present) Club			1,750		1,750
ABFThe Soldiers' Charity			7,500		11,500
Lieutenant Colonep sContingency
Fund			15,632		11,450
Penn 411Fagan awards
Special Events
Other grants			13,500		28,500
				39,880		57318
Total unrestricted				108,337		118;731
Restricted:
Welfare grant to Association			30,000		50,004
Colonel's Fund (including		casualty	159,778		153,539
support)
Total restricted				189,778		203,543
				298,115		322,274

Support costs
			2021	2021	2020	2020
				Total		Total
Administration:
Printing, postage and		stationery	3,735		2,756
Staffcosts			110,776		106,048
Accounting support, tax and other			31,918		26,964
advice
GDPR project			1/36		3,561
Computer			9,592		14,242
Audit and accountancy			19,580		18,990
Legal and professional		fees			165
				176,837		172,726
Regimental property:
Repairs, maintenance		etc	20,219		20,359
Insurance			5,058		4,350
Ieased vehicle			(555)		5,898
Valuation ofproperty			7,129		425
Depreciation			2,770		2,668
Provision for doubtful		debts			23,764
				34,621		57,464
Regimental commitments:
Grenadier Day			317
Remembrance	Day		471		441
Travelling and	entertaining		4,206		2,716
Presentations			2,944		4,754
				7,938		7,911
				219,396		238,101

		2021	2020f
Wages		1.40,524	136,359
Social Security		5,172	6,310
Pension Costs		3,431	1,564
		149,127	144,233
Allocated to:
Grants and donations	(note 7)	38,351	38,185
Support costs (note 8)		110,776	106,048
		149,127	144,233

		2021f	2020 f,
Audit fees		15,575	14,450
Accoundng	support	1,400	2,110
Taxation and other advice		1,605	2,430
		18,580	18,990

he Charity had the following commitments und December 2021:	er non-cancellable operating leases	as at 31
	2G21f	2020
Payable in:
Less than one year	6,025	3,271
Between two and five years	9540
	15,565	3,271

angible fixed assets
		Furniture
	Pictures,	fixtures	Band
	Silver, etc 8	dr equipment 0	instruments 8	Totalf
Cost
At 1 January 2021	679,869	63,628	89,843	833,340
Additions	5,464	2, 135		7,599
At 31December 2021	685,333	65,763	89,843	840,939
Depreciation
At 1 January 2021		56,328	89,843	146,171
Charge for the year		2,770		2,770
At 31December 2021		59,098	S9,843	148,941
Net book value
At31December 2021	685,333	6,665		691,998
At 31December 2020	679,869	7,300		687,169

Investments
Total investments at market value at the year end are:
	2021	2020
Land and Property	1,880,000	1,835,000
Managed Portfolio ofquoted investments	5,764,605	5397,856
Colonel's Fund quoted investments	2,704,195	2,536,731
Total investments held at year end	10,348,800	9,769,587
Freehold interest in land and bnildings
	2021	2020
10High Street Tenterden, Kent	770,000	725,000
7 and 15High Street, Wimborne, Dorset	770,000	740,000
Sherborne	270,000	300,000
Land at Middle Green —Grazing land	70,000	70,000
Total	1,880,000	1,835,000
Market value at 31 December 2020	1,835,000	2,270,000
Costs ofadditions
Gain/(Loss) on revaluation	45,000	(435,000)
Market value at 31 December 2021	1,880,000	1,835,000

Investmeats (continued)	Investmeats (continued)
Managed Portfolio ofquoted investmeuts
		2021		2020
	Cost	Market	Cost		Market
		value			value
Fixed Interest
United Kingdom	1,230,081	1,463486	1,509,087		1,615,510
Other International	274,799	264,341	70,040		82,912
Equities
United Kingdom	559,149	690,294	851,521		1,003,993
Other International	2,25 1,894	3,120,513	1,942,581		2,574,343
Cash
United Kingdom	226,172	226,172	121,098		121,098
Total Assets	4,542,095	5,764,606	4,494,327		5,397,856
Market value at 31December 2020		5,397,856			5,182,176
Acquisitions		1,034,501			1,468,905
Disposals		(1,254,452)			(1,693,413)
Investment gains		586,701			440,188
Market value at31December 2021		5,764,606			5,397,856

lonel's Fund quot	ed investments
			2021		2020
		Cost		Market	Cost	Market
				value		value
		g
Fixed Interest
United Kingdom		530,997		630,629	639,311	684,048
Other International		132,823		138,008	78,155	89,144
Equities
United Kingdom		237,412		291,974	239,653	257,994
Other International		928,683		1,318,699	904,599	1,234+18
Property
Charities Properly	Fund	144,506		2]5,739	144,506	195,275
Cash
United Kingdom		109,146		109,146	76,052	76,052
Total Assets		2,083,567		2,704, 195	2,082,276	2,536,731
hlsrhet value at 31December 2020				2,536,731		2&454&616
Acquisitions				497,031		598,111
Disposals				(582,104)		(675,550)
Investment gains				252,537		159,554
Market value at31December 2021				2,704,195		2,536,731

	Relief in
	Need	Colonel's	2021
	Fund	Fund	Total
		8	8
Balance at 1 January 2021	1,296,581	2,560,284	3,856,865
Income	79,910	159,076	238,986
Expenditure	(112,985)	(180,385)	(293,370)
Gains and Losses	60,015	252,537	312,552
Transfers between funds	48,454	52	48,506
Balance at 31December 2021	1,371,975	2,791,564	4,163,539

ds made in the pri	or year which is not consi	dered material to the finan	cial statements.
		Relief in
		Need	Colonel' s	2020
		Fund	Fund	Total
Balance at 1 January 2020		989,407	2,454,616	3,444,023
Income		71,835	90,083	161,9]8
Expenditure		(114,365)	(167,019)	(281,384)
Gains and Losses		4,461	159,554	164,015
Tnmsfers between	funds	345,243	%,050	368,293
Balance at31December 2020		1,296,581	2,560,284	3,856,865

Assets between funds
			2021
	Unrestricted	Restricted	Total
Tangible Fixed Assets	691,998		691,998
Investments	6,325,834	4,022,966	10,348,800
Net Current Assets /(Liabilities)	999	140,573	141,572
	7,010,031	4163,539	11,102,370
			2020
	Unrestricted	Restricted	Total
	f,
Tangible Fixed Assets	687,169		687,169
Investments	5,984,384	3,785,203	9,769,587
Net Current Assets /(Liabilities)	(35,204)	71,662	36,458
	6,636349	3 856,865	10,493 214

			Unrestricted		Restricted	2020
			Funds		Funds	Total
			g
Income from:
Douatious and legacies			47,236		67,796	115,032
Trading activities			15,049		29,037	44,086
Investments			179,545		65,085	244,630
			241,830		161,918	403,748
Total
Expenditure on:
Raising funds			74,535		19,616	94,151
Charitable activities			298,607		261,768	560,375
Total resources expended			373,142	'	281,384	654,526
Net (expenditure)			(131,312)		(119,466)	(250,778)
Other recognised	gains	and losses
Realised aud unrealised		gains/(losses):
on investments			360,685		239,057	599,742
on property			(359,958)		(75,042)	(435,000)
Net (expenditure)/income			(130,585)		44,549	(86,036)
Transfers lsetween	funds		~368.293		368,293
Net movement in	funds		~496,878		412,842	~86,936