2021-12-31-accounts - The Regimental Charity Of The Duke Of Lancaster's Regiment (King's, Lancashire And Border)

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Contents		Page
Trustees' annual report		1to5
Independent auditor's	report to the members	6to9
Statement offinancial	activities	10
Statement offinancial	position
Statement ofcash flows		12
Notes to the financial	statements	13to24

					2021	2020
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note		E
Income and endowments
Donations and legacies Charitable activities		4 5	103,233 ?2,397		103,233 72,397	122,463 73,005
Investment income		6	112,604		112,604	105,181
Grant Income		7	4,840		4,840	33,561
Total income			293,074		293,074	334,210
Expenditure
Expenditure on raising funds: Investment management costs Expenditure on charitable activities		8 9,10	24,920 249,253		24,919 249,253	22,844 274,388
Total expenditure			274,173		274,1?2	297,232
Net gains/(losses) on investments		13	376,842		376,842	(15,719)
Net income and net movement	in	funds	395,?43		395,744	21,259
Reconciliation offunds
Total funds brought forward			4,287,370	206,319	4,493,689	4,472,431
Total funds carried forward			4,683,113	206,319	4,889,432	4,493,689

31STDECEMBE	R 2021
			2021		2020
		Note
Fixed assets
Tangible fixed assets Heritage assets Investments		17 18 19	92,574 18,995 4,550,963		94,306 18,995 4,198,600
			4,662,532		4,311,901
Current assets
Stocks			46,537		44,733
Debtors		20	57,735		62,871
Cash at bank and in	hand		148,662		99,226
			252,934		206,830
Creditors: amounts	falling
due within one year			26,033		25,041
Net current assets				226,901	181,789
Total assets less
current liabilities			4,889,433		4,493,690
Net assets			4,889,433		4,493,690
Funds ofthe charity
Restricted funds				206,319	206,319
Unrestricted funds			4,683,113		4,287,370
Total charity funds		22	4,889,432		4,493,689

YEAR ENDED 3'IST DECEMBER 2	021
		2021	2020
		R
Cash flows from operating activities
Net income		395,?44	21,259
Adjustments for: Depreciation oftangible fixed assets Net gains/(losses) on investments Dividends, interest and rents from investments		2,038 (376,842) (112,598)	2,355 15,719 (105,062)
Other interest receivable and similar income		(6)	(119)
Accrued expenses		386	582
Changesin: Stocks		(1,804)	1,038
Trade and other debtors		5,136	(1,883)
Trade and other creditors		606	806
Cash generated from operations		(87,340)	(65,305)
Net cash used in operating activities		(87,340)	(65,305)
Cash flows from investing activities
Dividends, interest and rents from investments		112,598	105,062
Purchase oftangible assets Purchases ofother investments		(306) (681,111)	(3,380) (899,604)
Proceeds from sale ofother investments		807,372	828,708
Movement in listed investments Interest income		(101,783) 6	(453) 119
Net cash from investing activities		136,776	30,452
Net increase/(decrease) in cash and cash Cash and cash equivalents at beginning	equivalents ofyear	49,436 99,226	(34,853) 134,079
Cash and cash equivalents at end ofyear		148,662	99,226

4.	Donations	and legacies
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2021	Funds	2020
							f.
	Donations
	Donations			103,233	103,233	122,463	122,463
5.	Charitable	activities
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2021	Funds	2020
					R
	Association	events, subscriptions	and
	journals Shop Sales Rent receivable			5,730 65,367 1,300	5,730 65,36? 1,300	6,131 65,674 1,200	6,131 65,674 1,200
				72,39?	72,397	73,005	73,005
6.	Investment	income

Investment in
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
Income from listed investments Bank/Building Society Interest	112,598 6	112,598 6	105,062 119	105,062 119
	112,604	112,604	105,181	105,181
Grant income
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
			F	R
Grant income		4,840		4,840

7.	Grant inco	me (continued)
					Unrestricted	Restricted	Total Funds
					Funds	Funds	2020
							F
	Grant income				5,133	28,428	33,561
8.	Investment	management	costs
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2021	Funds	2020
					R
	investment	Management	fees	24,920	24,919	22,845	22,844

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021
					R
Other	charitable	activities	150,081		150,081
Grant	payabie		99,172		99,172
			249,253		249,253
			Unrestricted	Restricted	Total Funds
			Funds R	Funds	2020 f
Other	charitable	activities	148,344		148,344
Grant	payable		125,386	658	126,044
			273,730	658	274,388

Expen	diture on	charitable activ	ities by activity type
			Activities	Grant
			undertaken	funding of	Total funds	Total fund
			directly	activities	2021	2020
Other	charitable	activities	150,081		150,081	148,344
Grant	payable			99,172	99,1?2	126,044
			150,081	99,172	249,253	274,388

	Analysis ofoth	er	char	itable ac	tivities - by	branch	branch
				Charity	Association	Benevolence		Homes		Total	Total
				Branch f	Branch	Branch		Branch		2021 R	2020
	Staff costs Premises			3,645	291	8,946		371 1,444		13,253 1,444	13,594 937
	Regimental website			1,908	153	4,682			194	6,937	6,263
	Association
	journal				12,281					12„281	12,348
	Association and
	general events Shop costs Depreciation			560	5,236 63,336 45	1,376			57	5,236 63,336 2,038	1,306 62,511 2,355
	Benevolence and
	funeral					1,238				1,238	1,450
	Recruitment			13,937						13,937	14,671
	Regimental memorial				540					540	450
	Audit			2,739	219	6,723			279	9,960	9,570
	Postage, printing and admin			8,451	334	10,681			415	19,881	22,889
				31,240	82,435	33,646		2,760		180,081	148,344
12.	Analysis ofgrants									2021	2020
											F
	Grants to institutions
	The Lancashire Grant 1 LANCS	Infantry		Museum	Fund					8,000 20,000	8,000 20,000
	Grant 2 LANCS									20,000	20,000
	Grant 4 LANCS									7,250	7,250
	One offGrant 1	LANCS									8,244
	One offGrant 2	LANCS									16,200
	Miscellaneous Minor Grants									1,770	4,453
										57,020	84,147
	Grants to individuals
	Benevolence and Welfare									42,152	41,897
	Total grants									09,172	126,044
13.	Net gains/(losses)		on	investments Unrestricted			Total Funds		Unrestricted Total Funds
						Funds		2021		Funds	2020
								R		f.
	Gains/(losses) on listed			investments		376,842		376,842		(15,719)	(15,719)

Tangible fixed assets
		Fixtures
	Investment	and
	property	equipment	Total
Cost
At 1stJanuary 2021 Additions	88,000	25,190 306	113,190 306
Disposals		(1,909)	(1,909)
At 31stDecember 2021	88,000	23,587	111,557
Depreciation
At 1stJanuary 2021 Charge for the year Disposals		18,884 2,038 (1,909)	18,884 2,038 (1,909)
At 31stDecember 2021		19,013	19,013
Carrying amount
At 31stDecember 2021	88,000	4,574	92,574
At 31stDecember 2020	88,000	6,306	94,306

Heritage	assets
Heritage	Assets consist of paintings	owned	by the charity which	had previously	been described
as 'Long	Life Assets'.
					Heritage
					asset
Cost or	valuation
At 1stJanuary 2021 and 31st December			2021		22,524
Accumulated depreciation
At 1stJanuary 2021 and 31stDecember			2021		(3,529)
Carrying	amount
At 31st	December 2021				18,995
At 31stDecember 2020					18,995

Investments
	Cash or cash	Listed
	equivalents	investments	Total
Cost or valuation
At 1stJanuary 2021 Additions	9,592	4,189,008 681,111	4,198,600 681,111
Disposals Fair value movements		(807,372) 376,842	(80?,372) 376,842
Other movements	101,782		101,782
At 31st December 2021	111,374	4,439,589	4,550,963
Carrying amount
At 31stDecember 2021	111,374	4,439,589	4,550,963
At 31stDecember 2020	9,592	4,189,008	4,198,600

	Ofthese Inves	tments		f1,	794,202(2020:f	1,494,533) a	re listed outside	the UK.
20.	Debtors							2021	2020
								R
	Trade debtors							110	3,655
	Prepayments Other debtors	and accrued			income			29,862 2?,763	37,488 21,728
								57,735	62,871
21.	Creditors: amounts		falling due within one year					2021	2020
	Accruals and	deferred		income				15,165	14,779
	Other creditors							10,868	10,262
								26,033	25,041
	Analysis ofcharitable			funds
	Unrestricted	funds
					At 1st			Gains	At 31st
					January			and	December
					2021	Income	Expenditure	losses	2021
	General funds Leasehold property				4,120,404 88,000	286,524	(272,989)	376,842	4,510,?81 88,000
	NW festival of
	remembrance				990				990
	Silver heritage				77,976	6,550	(1,184)		83,342
					4,287,370	293,074	(274,173)	376,842	4,883,113
					At 1st			Gains	At 31st
					January 2020	Income	Expenditure	and losses f	December 2020
	General funds Leasehold property				4,134,114 88,000	292,597	(290,588)	(15,719)	4,120,404 88,000
	NW festival of
	remembrance				990				990
	Silver heritage				70,778	13,185	(5,987)		77,976
					4,293,882	305,782	(296,575)	(15719)	4,28, 7,370

			At 1st			Gains	At 31st
			January			and	December
			2021	Income	Expenditure	losses	2021
					E	F
George Biundell	Walmsley Indenture		135,603				135,603
Museum	of	Manchester
Firearm			11,055				11,055
Manchester		Cathedral
Chapel Pat Ross Fund			44,969 14,692				44,969 14,692
			206,319				296,319
			At 1st			Gains	At 31st
			January 2020 R	Income	Expenditure	and losses f	December 2020
George Blundell	Walmsley Indenture		135,803		(200)		135,603
Museum	of	Manchester
Firearm			11,055				11,055
Manchester		Cathedral
Chapel Pat Ross Fund			31,691	13,278 15,150	(458)		44,969 14,692
			178,849	28,428	(658)		206,319

23.	Analysis ofnet assets between funds	Analysis ofnet assets between funds	Analysis ofnet assets between funds
				Unrestricted	Restricted	Total Funds
				Funds	Funds	2021
	Tangible fixed assets Investments			111,569 4,415,360	135,603	111,569 4,550,963
	Current assets			182,218	70,716	252,934
	Creditors less than	1	year	(26,033)		(26,033)
	Net assets			4,683,114	206,319	4,889,433
				Unrestricted	Restricted	Total Funds
				Funds	Funds	2020 f
	Tangible fixed assets Investments			113,301 4,062,997	135,603	113,301 4,198,600
	Current assets			136,114	70,716	206,830
	Creditors less than	1	year	(25,041)		(25,041)
	Net assets			4,287,371	206,319	4,493,690
24.	Analysis ofchanges		ln net debt	At		At
				1 January	Cash	31December
				2021	flows	2021
					F	R
	Cash at bank and	in	hand	99,226	49,436	148,662