2021-03-31-accounts

			Page
Report ofthe Trustees		1	to	4
Report ofthe Independent	Auditors	5lo7
Statement ofFinancial Activities
Balance Sheet
Notes to the Financial Statements		10 lo		18

				31.3.21	31.3.20
				Unrestricted	Total
			Notes	fund f	funds E
INCOME AND ENDOWMENTS		FROM
Charitable activities
Globe and Laurel magazines				132,239	134,564
Other trading activities				11,028	20,310
Investment income				7,062	9,145
Total				150,329	164,019
EXPENDITURE ON
Charitable activities
Globe and Laurel magazines				111,597	178,841
Net gains/(losses) on	investments			33,189	(33,275)
NET INCOME/(EXPENDITURE)				71,921	(48,097)
RECONCILIATION OF FUNDS
Total funds brought	forward			332,174	380,271
TOTAL FUNDS CARRIED FORWARD				404,095	332,174

	BALANCE SHEET 31 MARCH 2021
		31.3.21	31.3.20
		Total	Total
		funds	funds
	Notes	8	E
FIXEDASSETS
Tangible assets	12	328	593
Investments	13	250,995	217,806
		251,323	218,399
CURRENT ASSETS
Debtors	14	4,828	9,248
Cash at bank		177,584	136,689
		182,412	145,937
CREDITORS
Amounts falling due within one year	15	(29,640)	(32,162)
NET CURRENT ASSETS		152,772	113,775
TOTAL ASSETSLESSCURRENT
LIABILITIES		404,095	332,174
NET ASSETS		404,095	332,174
FUNDS	16
Unrestricted funds		404,095	332,174
TOTAL FUNDS		404,095	332,174

OTHER TRADING ACTIVITIES	OTHER TRADING ACTIVITIES
		31.3.21	31.3.20
		6	6
Advertising in magazine		11,028	20,310
INVESTMENT INCOME
		31.3.21 f	31.3.20
Listed investment	income	7,062	9,145
INCOME FROM CHARITABLE ACTIVITIES
		31.3.21	31.3.20
	Activity	6	6
Magazine sales	Globe and Laurel magazines	126,989	130,234
App income	Globe and Laurel magazines	5,250	4,330
		132,239	134,564

							Grant
							funding	of
						Direct	activities		Support
						Costs (see	(see note		costs (see
						note 6) 6	7) 6		note 8) 6	Totals f
	Globe and	Laurel	magazines			53,439	27,000		31,158	111,597
6.	DIRECT COSTS		OF CHARITABLE ACTIVITIES
									31.3.21	31.3.20
									6	6
	Magazine	printing	and	postage					52,809	66,601
	Presentation magazines								630	625
									53,439	67,226
7.	GRANTS	PAYABLE
									31.3.21 f	31.3.20 f
	Globe and	Laurel	magazines						27,000	80,000
	1he total grants paid to			institutions		during the year was as	follows:
									31.3.21	31.3.20
									f
	RMA - The Royal		Marines Charity						27,000	80,000
8,	SUPPORT COSTS
									Governance
							Management 6		costs	Totals f
	Globe and	Laurel	magazines				27,733		3,425	31,158
	Support costs, included			in the	above, are as follows;
	Management
									31.3.21	31.3.20
									Globe and
									Laurel	Total
									magazines f	activities f
	Wages								20,772	20,291
	Pensions								1,454	1,243
	Insurance								310	372
	Card processing		fees						199	720
	Stationery	and miscellaneous			expenses				388	1,118
	Computer	expenses							4,225	2,137
	Legal and	professional		fees						3,000
	Depreciation of tangible			assets					385	859
									27,733	29,740

				31.3.21	31.3.20
				Globe and
				Laurel	Total
				magazines	activities
				8	E
Auditors'	remuneration			3,500
Independent		examiners	fee	(75)	1,875
				3,425	1,875

STAFF COSTS
						31.3.21	31.3.20
						8
Wages and salaries						20,772	20,291
Other pension costs						1,454	1,243
						22,226	21,534
The average monthly	number of	employees		during	the year was as follows:
						31.3.21	31.3.20
Support staff						2	2
No employees received emoluments			in excess off60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
							Unrestricted
							fund
							8
INCOME AND ENDOWMENTS		FROM
Charitable activities
Globe and Laurel magazines							134,564
Other trading activities							20,310
Investment income							9,145
Total							164,019
EXPENDITURE ON
Charitable activities
Globe and Laurel magazines							178,841
Net gains/(losses) on	investments						(33,275)
				Page 13			continued. ..

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
				Unrestricted
				fund
				6
	NET INCOME/(EXPENDITURE)			(48,097)
	RECONCILIATION	OF FUNDS
	Total funds brought	forward		380,271
	TOTAL FUNDS CARRIED FORWARD			332,174
12.	TANGIBLE FIXEDASSETS
				Computer
				equipment
				6
	COST
	At 1 April 2020			12,067
	Additions			120
	At 31 March 2021			12,187
	DEPRECIATION
	At 1 April 2020			11,474
	Charge for year			385
	At 31 March 2021			11,859
	NET BOOK VALUE
	At 31 March 2021			328
	At 31 March 2020			593
13.	FIXEDASSET INVESTMENTS
				Listed
				investments
				f
	MARKET VALUE
	At 1 April 2020			217,806
	Revaluations			33,189
	At 31 March 2021			250,995
	NET BOOK VALUE
	At 31 March 2021			250,995
	At 31 March 2020			217,806
	There were 8137,147(31.3.20:676,581)investment		assets held outside the UK.

DEBTO	RS:AM	O	U	NTS FALL	ING DUE	WITHIN ONE Y	EAR
									31.3.21	31.3.20
									6	6
Trade debtors									696	3,863
Other debtors									3,649	5,216
VAT									483	169
									4,828	9,248
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE							YEAR
									31.3.21 8	31.3.20 f
Trade creditors									266	570
Social security and				other taxes					18	30
Accrued	expenses								3,498	1,900
Deferred	income		(see below)						25,858	29,662
									29,640	32,162
Deferred	income
Deferred	income		comprises		magazine	subscriptions	received	for issues	which will be	published
future financial		periods.
									2021	2020
									6	6
Balance	brought		forward						29,662	28,174
Amount	release	to		incoming resources					(29,662)	(28,174)
Amount	deferred		in	the year					25,858	29,662
Balance	carried	forward							25,858	29,662

MOVEMENT	IN FUNDS
			Net
			movement	At
		At 1.4,20 6	in funds f	31.3.21 6
Unrestricted	funds
General fund		332,174	71,921	404,095
TOTAL FUNDS		332,174	71,921	404,095

Net mov	ement	in fu	nds, include	d	in the abo	ve are as follows	:
						Incoming	Resources	Gains and	Movement
						resources 6	expended f	losses 6	in funds 6
Unrestricted		funds
General	fund					150,329	(111,597)	33,189	71,921
TOTAL	FUNDS					150,329	(111,597)	33,189	71,921
Comparatives		for	movement	in	funds
								Net
								movement	At
							At 1.4.19	in funds	31.3.20
							6	6	6
Unrestricted		funds
General	fund						380,271	(48,097)	332,174
TOTAL	FUNDS						380,271	(48,097)	332,174

Compara	tive	net movement in fun	ds, included in the above	are as follows:
			Incoming	Resources	Gains and	Movement
			resources E	expended 8	losses f	in funds 6
Unrestricted		funds
General	fund		164,019	(178,841)	(33,275)	(48,097)
TOTAL	FUNDS		164,019	(178,841)	(33,275)	(48,097)