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2021-12-31-accounts

Page
Report ofthe Trustees 1to 10
Report ofthe Independent
Auditors		 11 to 13
Statement ofFinancial Activities 14
Balance Sheet
Cash Flow Statement 16
Notes to the Financial Statements 17to 27
Detailed Statement ofFinancial Activities 28 to 32

Year ended Year ended
31.12.2021 31.12.2020
Unrestricted Restricted Total Total
funds funds funds funds
Notes 8 8 f.
INCOME FROM
Donations
and legacies
Other trading activities
Investment
income		 519,676
9,227
63,224		 15,469
25,397		 535,145
9,227
88,621		 195,808
7,787
111,087
Total 592,127 40,866 632,993 314,682
EXPENDITURE ON
Raising funds
Charitable
activities		 34,531
299,878		 7,234
85,446		 41,765
385,324		 34,617
298,864
Total 334,409 92,680 427,089 333,481
Net (losses)/gains
on investments		 388,165 148,950 537,115 298,630
Net (expenditure)/income 645,883 97,136 743,019 279,831
Transfers between
funds
Net movement
in funds		 645,883 97,136 743,019 279,831
RECONCILIATION OF FUNDS
Total funds brought forward 4,220,634 1,783,991 6,004,625 5,724,794
TOTAL FUNDS CARRIED FORWARD 4,866,517 1,881,127 6,747,644 6,004,625

2021 2020
Notes
FIXEDASSETS
Investments 13tk 14 9,142,132 7,624,021
9 142 132 7,624,021
CURRENT ASSETS
Debtors 15 49,000 60,726
Cash at bank 97,287 64,846
146,287 125,572
CREDITORS
Amounts
falling due within one		 year 16 (59,537) (54,322)
NET CURRENT ASSETS 86,750 71,250
TOTAL ASSETS LESS CURRENT
LIABILITIES 9,228,882 7,695,271
CREDITORS
Amounts
falling
than one year		 due atter more 17 (2,481,238) (1,690,646)
NET ASSETS 6,747,644 6,004,625
FUNDS
Unrestricted
funds
Restricted
funds		 18&19 4,866,517
1,881,127		 4,220,634
1,783,991
6,747,644 6,004,625

2021 2020
Notes 8
Cash flows from operating
activities:
Cash generated
from operations		 815,981 77,754
Net cash provided
by (used in) operating		 activities 815,981 77,754
Cash flows from investing
activities:
Purchase offixed asset investments		 (3,349,545) (2,733,013)
Saleoffixed asset investments 2,565,996 2,697,013
Interest received 9 51
Net cash provided
by (used in) investing		 activities (783,540) (35,949)
Change in cash and cash equivalents in the reporting period 32,441 41,805
Cash and cash equivalents
at the		 beginning ofthe reporting period 64,846 23,041
Cash and cash equivalents
at the		 end ofthe reporting period 97,287 64,846
1. RECONCILIATION
OF NET (EXPENDITIJRE)/INCOME		 TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2021 2020
Net
(expenditure)/income
for
statement
offinancial activities)		 the reporting period (as per the 743,019 279,831
Loss/(Gain)
on investments
Interest received		 (734,562)
(9)		 (381,171)
(51)
Decrease/(Increase)
in stock
Decrease/(Increase)
in debtors
(Decrease)/Increase
in creditors
(decrease)/Increase
in long term liabilities		 11,727
5,214
790,592		 30,363
(38,552)
187,334
815,981 77,754
ANALYSIS OF CHANGES IN NET (DEBT)/FIJNDS At 01.01.21 Cash flow At 31.12.21
Net cash
Cash at bank 64,846 32,441 97,287
64,846 32,441 97,287
Total 64,846 32,441 97,287

Unrestricted Restricted Year ended Year ended
Funds Funds 31.12.21 31.12.20
Suhscriptions (Riflemen and Officers) 164,373 164,373 149,752
Subscriptions (Officers) 34,987 34,987 34,059
Donations
and		 legacies 254,356 15,259 269,615 10,706
Gift aid
Curators
grants
Book sales 1,776 210 1,986 1,291
Saleofassets and other items (see note 8) 64,184 64,184
519,676 15,469 535,145 195,808

OTHER TRADING ACTIVITIES
Unrestricted Restricted Year ended Year ended
Funds Funds 31.12.21 31.12.20
Magazine income 9,227 9,227 7,787
Trading activities
9,227 9,227 7,787
INVESTMENT INCOME
Unrestricted Restricted Year ended Year ended
Funds Funds 31.12.21 31.12.20
Deposit account interest 9 9 51
Dividend and interest 63,215 25,397 88,612 111,036
Sale oftrading operations
63,224 25,397 88,621 111,087

Unrestricted Restricted Year ended Year ended
Funds Funds 31.12.21 31.12.20
Investment management fees 18,075 7,234 25,309 23,124
Regimental magazine 16,456 16,456 11,493
Trading activities
34,531 7,234 41,765 34,617

CHARITABLE A C TI VIT IES
Grant funding Support
Direct ofactivities costs
costs (see note 7) (see note 8) Totals
f.
General (RHQ) 88,899 373 106,719 195,991
Battalions, Reserve Forces, ITC Coy and AFC Harrogate grants 45,500 45,500
City and County office grants 7,350 7,350
Officers Fund 21,561 8,975 30,536
5 (V)RGJTrust Fund 7,500 7,500
Lawrence Bequest Fund 20,000 20,000
Hatton Bequest Fund 1,000 1,000
RGJ Management Fund 16 64,116 64,132
Light Infantry Management Fund 114 200 314
Museum
Grant		 13,000 13,000
110,590 168,014 106,719 385,323
GRANTS PAYABLE
The total ofgrants paid during the year was as follows:
Year ended Year ended
31.12.21 31.12.20
Unrestricted
funds:
Battalion, Reserve Forces, ITC Coy and AFC Harrogate 45,500 51,900
Cornwall office 1,500
Exeter office 1,000
London office 850
Salisbury office
Shrewsbury
office		 1,000 1,580
Taunton office 1,200
Yorkshire office 2,300 1,000
South West office 500 1,000
Rifles admin 500 500
RHQ grant 373 215
5(V)RGJ Trust 7,500 9,000
Officers fund grant 8,975 10,185
Restricted funds:
Grants (Hatton Bequest Fund) 1,000 1,000
Grants (Light Infantry Fund) 200 100
Adventure
Training		 grants (Lawrence Bequest Fund) 20,000 20,000
RGJ Museum
Trust		 grant (RGJ Management
Fund)		 64,116 35,000
RGJ Association (RGJ Management Fund)
New museum
CIO		 13,000 21,551
168,014 154,531

SUPPORT COS TS
Governance
Management (see note 9) Total
Postage and stationery 365 365
Publications 606 606
IT admin support and equipment 7,544 7,544
Membership
and		 subscriptions 153 153
Equipment
maintenance		 and repairs 6,491 6,491
Trustee honoraria
Staffhonoraria 10,000 10,000
Insurance 3,815 3,815
Meeting costs 72 72
Regimental
Secretary expenses		 51 51
Colonel Comdts Expenses 1,284 1,284
Accountancy 5,390 5,390
Auditors'
remuneration		 6,764 6,764
Rifles collection —9Statuettes from sale ofassets by melting down 64,184 64,184
broken and unused silver
99,883 6,836 106,719
GOVERNANCE COSTS
Unrestricted Restricted Year ended Year ended
Funds Funds 31.12.21 31.12.20
8 8
Meeting costs 72 72 175
Auditors'
remuneration		 6,764 6,764 6,760
6,836 6,836 6,935
TRUSTEESREMUNERATION AND BENEFITS
With the Charity Commission's approval, Lt Col P Balls OBE, Regimental Secretary and a Trustee was paid g4,000
for his exceptional contribution to the Charity (2020:X2,000).
Trustees'
Expenses
There
were
no		 trustees' expenses paid for the year ended 31stDecember2021 or for the period ended
31st
December 2020.
STAFF COSTS
2021 2020
8

Unrestricted Restricted Total
funds funds funds
8 8 8
INCOME FROM
Donations
and legacies		 195,199 609 195,808
Other trading activities 7,787 7,787
Investment
income		 78,240 32,847 111,087
Total 281,226 33,456 314,682
EXPENDITURE ON
Raising funds 27,777 6,840 34,617
Charitable
activities		 242,583 56,281 298,864
Total 270,360 63,121 333,481
Net gains/(losses)
on investments		 211,257 87,373 298,630
Net income/(expenditure) 222,123 57,708 279,831
Transfers
between funds
Net movement
in funds		 222,123 57,708 279,831
RECONCILIATION OF FUNDS
Total funds brought forward 3,998,511 1,726,283 5,724,794
TOTAL FUNDS CARRIED FORWARD 4,220,634 1,783,991 6,004,625

Listed
Investments
MARKET VALUE
At 1stJanuary 2021 7,623,921
Additions 3,349,545
Disposals (2,565,996)
Revaluation
(Charity)		 537,113
Revaluation
(held for third parties)		 197,449
At 31stDecember 2021 9,142,032
NET BOOK VALUE
At 31stDecember 2021 9,142,032
At 31stDecember 2020 7,623,921
Market
value
Within the United Kingdom 3,085,002
Outside the United Kingdom 6,057,030
9,142,032

2021 2020
Listed investments 9,142,032 7,623,921
Investment in unlisted subsidiary 100 100
9,142,132 7,624,021

2021 2020
Other debtors 49,000 60,726
Deferred consideration
Amounts falling due in more than one year:
Deferred consideration
49,000 60,726

2021 2020
8
Other creditors 23,012 21,401
Rifles Benevolent Trust 36,525 32,921
59,537 54,322

Group
2021 2020
DDLI Charities 865,829 846,866
I Rifles PRI 117,632 108,723
2 Rifles PRI 219,944 203,285
4Rifles PRI 58,682 54,238
5 Rifles PRI 68,759 63,551
6Rifles PRI 38,772 35,835
7Rifles PRI 172,906 164,844
Rifles &LIAssociation Somerset 231,119 213,304
RGBW Fund 707,595
2,481,238 1,690,646

Unrestricted Restricted Total Total
Funds Funds 2021 2020
8 8
Fixed assets
Investments 4,831,016 4,311,117 9,142,133 7,623,921
Current assets 95,044 51,243 146,287 125,572
Current liabilities (59,538) (59,538) (54,322)
Long term liabilities (2,481,238) (2,481,238) (1,690,646)
4,866,522 1,881,122 6,747,644 6,004,524

MOVEMENT IN FUNDS
Balance at Incoming Resources investment Balance at
01.01.21 resources expended gains/(losses) Transfers 31.12.21
g g
Unrestricted
fund
General
fund		 4,063,101 536,776 295,815 376,479 4,680,541
Designated
funds
5 (V)RGJ Trust 143,588 1,955 8,058 11,686 149,171
Olflicers Fund 13,945 53,396 30,536 36,805
RGBW Fund
4,220,634 592,127 334,409 388,165 4,866,517
Restricted
funds
Hatton Bequest Fund 40,650 576 1,164 3,446 43,508
Lawrence Bequest Fund 395,258 5,526 21,577 33,039 412,246
RGJManagement Fund 1,235,247 17,737 69,179 102,797 1,286,602
Rifles Collection Curators Fund
Light Infantry
Fund		 112,836 17,027 760 9,668 138,771
1,783,991 40,866 92,680 148,950 1,881,127
TOTALFUNDS 6,004,625 632,993 427,089 537,115 6,747,644
Balance at Incoming Resources Investment Balance at
01.01.20 resources expended gains/(losses) Transfers 31.12.20
f. 8 f.
Unrestricted
fund
General fund 3,828,028 243,614 213,104 204,563 4,063,101
Designated
funds
5 (V)RGJ Trust 143,916 2,504 9,526 6,694 143,588
Officers Fund 26,567 35,108 47,730 13,945
3,998,511 281,226 270,360 211,257 4,220,634
Restricted
funds
Hatton Bequest Fund 39,098 730 1,152 1,974 40,650
Lawrence Bequest Fund 390,755 7,056 21,479 18,926 395,258
RGJManagement Fund 1,190,863 23,104 39,906 61,186 1,235,247
Light Infantry
Fund		 105,567 2,566 584 5,287 112,836
1,726,283 33,456 63,121 87,373 1,783,991
TOTAL FUNDS 5,724,794 314,682 333,481 298,630 6,004,625

Year ended Year ended
31.12.2021 31.12.2020
K
INCOME FROM
Donations and legacies
Regimental Subscriptions (Riflemen and Officers) 164,373 149,752
Regimental Subscriptions (Officers) 34,987 34,059
Donations and legacies 262,009 9,989
Donations (Light Infantry) 11 503
Rifles Direct Income 7,595 214
Book sales (Light Infantry) 1,986 1,291
Sale ofassets and other items (see note 8) 64,184
535,145 195,808
Other trading
activities
Magazine income 9,227 7,787
Investment income
Dividends and interest 88,612 111,036
Deposit account interest 9 51
88,621 111,087
Total 632,993 314,682
EXPENDITURE ON
Raising funds
Investment management fees 25,309 23,124
Regimental magazine 16,456 11,493
41,765 34,617
Charitable activities
Recruiting costs 19,537 21,685
Honour boards etc 12,805 4,999
Wreaths and rememberance
Travel expenses (Regional Colonels and Advisory Board) 657 467
Adventure training/sports sponsored through RHQ 1,150 1,650
Band and Bugles expenses
Officers Fund expenditure 16,561 30,545
Chronicle contribution 2,031 4,000
Rifles Association 4,059 59
Divisional colonel 3,832 3,139
60,632 66,544

Year ended Year ended
31.12.2021 31.12.2020
Charitable
activities		 continued 60,632 66,544
StCross Cricket Ground 10,000 10,000
Battlefield
study/tours
Marketing
and family		 support
Buglers
Freedom parades 838
Grants (see note 8) 168,014 154,531
RCO salary 17,500 5,250
Reunion/gathering
costs		 1,020
RGJ Management
Fund costs		 16 105
Light Infantry
Management		 Fund costs 114 77
Regimental
awards		 1,700
Awards
dinner		 19,790
278,604 237,527
Support costs
Postage and stationery 365 790
Publications 606 2,100
IT and admin support and equipment 7,544 9,582
Membership
and subscriptions		 153 90
Equipment
and maintenance		 and repairs 6,491 12,022
Trustee honoraria 2,500
Staffhonoraria 10,000 15,500
Insurance 3,815 4,469
Meeting costs 72 175
Regimental
secretary		 expenses 51 45
Colonel Comdts Expenses 1,284 306
Accountancy 5,390 6,998
Auditors'
remuneration		 6,765 6,760
Rifles collection - 9 Statuettes &om sale ofassets by melting 64,184
down broken and unused silver
106,720 61,337
Total 427,089 333,481
Net (losses)/gains
on		 investments 537,115 298,630
Net (expenditure)/income 743,019 279,831

5(V)RCJ Officers RGBW
Trust Fund Fund Total
INCOME FROM
Donations
and legacies		 14,790 14,790
Subscriptions 34,987 34,987
Investment
income		 1,955 9,419 11,374
Bugle sales 3,619 3,619
Other income 644,550 644,550
Total 1,955 53,396 653,969 709,320
EXPENDITURE ON
Grants 7,500 8,975 16,475
Chronicle/Bugle
Publications		 16,561 16,561
Chronicle honoraria
St Cross 5,000 5,000
Adventure
trmning
Investment
management		 fees 558 2,688 3,246
Total 8,058 30,536 2,688 41,282
Net (losses)/gains on investments 11,686 56,314 68,001
Net (expenditure)/income 5,583 22,860 707,596 736,039
Nct movement
in		 funds 5,583 22,860 707,596 736,039
RECONCILIATION OFFUNDS
Total funds brouglit forward 143,588 13,945 157,533
TOTAL FUNDS CARRIED FORWARD 149,171 36,805 707,596 893,572

Hatton Lawrence RGJ Light
Bequest Bequest Management Infantry
Fund
8		 FundI Fund
g		 Fund
g		 Total
INCOME FROM
Donations
and legacies		 15,259 15,259
Book sales 210 210
Investment
income		 576 5,526 17,737 1,558 25,397
Total 576 5,526 17,737 17,027 40,866
EXPENDITURE ON
Grants 1,000 20,000 64,116 200 85,316
Meeting costs
Postage and stationery 16 114 130
Wreaths and rememberance
Investment
management		 fees 164 1,577 5,047 446 7,234
Total 1,164 21,577 69,179 760 92,680
Net (losses)/gains
on investments		 3,446 33,039 102,797 9,668 148,950
Net (expenditure)/income 2,858 16,988 51,355 25,935 97,136
Transfers between funds
Net movement
in funds		 2,858 16,988 51,355 25,935 97,136
RECONCILIATION OF FUNDS
Total funds brought
forward		 40,650 395,258 1,235,247 112,836 1,783,991
TOTAL FUNDS CARRIED FORWARD 43,508 412,246 1,286,602 138,771 1,881,127
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