Charlty numb•r: 1125179
The Morclan Reglm•nt Benovolent Ch•rfty
Trustees. rgport and financiol slotoments
For the ￿r ended 31 March 2021
dADAINS
ACCOUt4ThNT5

The Merclan Reglment 8￿@v01•nI Charlty
ontonts
Page
Rof•r•nc• and admlnlstratlv• dotalls of the Charlty, Its Trusto0$ and advl$ors
Tru•tse8' report
Indapandant •xamlnorfs rnport
Statom•nt of finan¢i•l activiti0•
Balanco 8he•t
Notss to tho fln•ncl•l statemants
9-17

Tho Morcl•n R8glm•nt 8on•vol•nt Charity
Rofernnco and admlnlstrntive details of the Charlty. Its Tfustses and advl¥•rJ
For the year fjndgd 31 March 2021
Trusts
Lt Gen I Cav8 CB, Chalmian and Colon91 of Rggim¢nt
Br￿ S B8nlon OBE, Deputy Colon81 Her4tag8
Brig S B811 QVRM, Deputy Colonel RRCM
Brlg P Klmbor OBE, D¢puty Colonal Benevolence & Finance
Col A Walton MBE
Lt Col N Kelty OBE. C01 Mereldn Ires4gned 8 Septsmber 20201
Lt Col M Davis. C02 Mercian {resignad 8 August 20201
Lt Col F Cutue MBE, C04 Mercian Iresignad 9 November 2020)
Lt Col {Retdl M Jackson OBE
Ll Col (Retdl N Mackinstosh
Lt Col R Spallon, C04 Mercian (appointed g Novembèr 20201
Ll Col O Canham OBE, C01 Marcian (ap￿￿ted 8 Soplembar 2020}
Ll Col R Grover MBE. C02 Merclan (appointad 8 August 20201
Mr M Elliott
Charlty r•gistor•d
number
1126179
Prlnclpal 0ffl¢g
Regimental Headquarters
Th8 Mercian RegSment
Whittington Barracks
Lichfleld
Stalfordshlrg
WS14 9TJ
Fifian¢l#l Secretary
Mr8 P Mear
Accountsnts
Dains LLP
15 Colmore Row
Birmingham
B32BH
Bankorn
CAF Bank
25 Kings Hill Avenue
West M8lling
ME19 4JQ
Royal Bank of Scouand
200 FO￿er Avenue
Farnborough
GU14 7JP
Invwtrnorrt Managers
Inv8slec Wealth and Investment
2 Gresham Streat
London
EC2V 7QN
Po98 1

Tho Mgrolan Rgglment Bgngvolgnt Charlty
Trusto08' roport
For the ￿ar •nd8d 31 March 2021
The Tru8tees present Ihalr annual r8port togethèr wlh the fi'nancial statements of the Charity for the year 1 Aprll
2020 to 31 March 2021.
ObJ•ctlv8s and aetlvltlas
. ObJ•ctbv•8 and alms
The prlnclple objectlve of The Mercian 8enevolent Charity is the maklng of grants for the relief, generally or
Indlvldually, of past and present m8mb8r8 of the Regiment and former Reglments and theSr dependents who are
In noed, hard8hlp or dlslr8ss.
Duiing the reportlng year, 1 Apru 2020 to 31 March 2021, the main activty f(x the publlc benefft Involved the
glving of grants for rellef totalllng £48.518 12019:. £64,948. 2020.. £71,371) this belng a Slgnlficant decre￿8
compared lo pr6vious financial years and less than the covid budget, whlch wa8 r8vlslted al the outbreak of the
pandemlc. Some of the decrease in requests ¢an bg attrlbuled to caseworkers vlslts baing Severely restrlrt8d
because of pandemlc.
In s9thng oblectlves and plannlng for advllles, th6 TnJslee8 havè given due con8lderatlon to general guldanca
published by th? Chadly Commlsslon relatlng to publi¢ b8nofft. Includlng the guldance 'Publlc benefit.. runnlng a
charity IP82}'.
b. Adlvltlgs und•rtokon to achlgve oblèctlve•
During a financial yaar infiictgd many restrlctlon8, it was remarkabl8 that the charlty conllnued to benefit
linancl81ty. Mercian Service Personn81 rais￿ almost £5K from a plethora of events from vSrtyai run$ to
marathons, 24-hour HIIT lo cross fft challenges in memory of Merdan's kllled in action.
When restrictions eas8d, talks and golf matches We￿ arranged. helping to raiso some of thg funds paid to the
charfty. Several donotions were paid in memory of loved ones passion8te about tha charity
c. GrnntwmakSng pollclol
Regimental lristruction G3 The Mercian Regiment Ban8volgnl Charlty operating procedures am8ndmenl 17
Idaled 28th Aprfl 2020) detalls how grants will be man8ge(I,' In summary that only members of the Mercian
Roglmonl or Its ante¢edenl Regiments and their close famlly are enlllled to asslslanc8 from the charity. *h8
Satesl ampndment now Sncludes prov18ion for serving Reservistslveterans. Memb8rs that hav8 not subscribed lo
the salary sacrific8 scheme referred to as the Doys Pay Scheme wlll not be e1BJ1b￿ for assistanc8 unless there
are extreme mltlgallng clrcum8tAnce8.
Alyo detailed Is how appllcations are lo be submitted lor consldorgtlon, what 18 deemed as Worthy for a grant to
b8 8ward8d, the levels of d18burs&nent arbd who Gan appro￿ them. All grants are pahj to a third party and nol
dlredy lo the appllcanl.
Page 2

Tho Merclan Reglm•nt Ben•volont Charfty
Trusto98' roport lcontlnuod)
For tho yoar ondgd 31 March 2021
Achlovomonts and p•rfornianco
a. Revlew of actlvltleB
Thg main activity of The Mercian Benevolent Charlty Is tho provlslon of grants, the key areas of requests ar8
rgoeived for.. white and brown goods, age related assistance lelectrlc powered vehiclgs, stair Ilfts and rlser
ch8lrsl, Tental deposts and prk)rlty debts. Annually the charity donate8 £10K to The Amiy Benevolent Fund.
Thg Merclan Benevolent Charfty has a probcol whereby at the very minimum we ￿11 contscl bereaved families
that have approved contact as por GDPR,. on the anniversary of their Soldier's death. th8 annual Crich
pllgrfmage and at Chrf8tma8. FUrthemio￿. .the chority pur¢hgses and provld6s W￿th8 and cr05888 for all
m6morlal ev8nts.
Throughout the year, pre8entsllons arg g￿en to th8 Regular and Resarvist seNng members of the Mercian
Regiment to infom them about salary sacrifice. SSAFA cose workers, receive trainlng briefin08 from the
Through Lrfe Care Offlc8r. Informlng them how lo correcly Submtt grant, 8ppltslion8 to en8uro a prompt
lurn8round.
Flnanclal rovi•w
. Golng concom
After makirMJ appropriate enquiiies, the tnJslee8 have o r8osonoble axpectation that th8 Tru81 ha8 adequalo
r8sources to continue In operallonal exl8tence for the foresee8ble future. For thls reason, they conllnue lo aijopl
Ihg golng con￿rn basls In preparfn9 th8 financlal 8181ements. Tr8Snlng continues lo be undertaken for tho roll
out of Ihg n9w MOSAIC ￿se management system, vthilsl there w8re d8lays and teethin9 troubles, the grant
appllcallons are now le￿IVed and processed on it.
b. Re•ebve• pollcy
Th8 capltal assets of the Mwcian Benevolent Charlty shall not fall bolow £1m.
If that lev61 Is breach8d al any tlme, the Charltys Slalemenl operatlng procedure sho11 be revlew8d go a8 to Ilmlt
grants andlor the tru8lee8 shall launch a fund-ralslng campaign designed to brlng the capital assets back up lo
tho r¢s8N818vel.
Principal fundlng
Th8 principle Source of funding for th8 Mercian Benevotent Charlty has been through the r8c6ipI of monthly
contributions made by seNing members tsf the Mere4an Reglment und8r tho Doy3 Pay scheme. The Merclan
Reservists have joined this sch8me, and thls financial y8a¢8 ov8rall Income wa8 255,968 this being a 811ght
Inc¥g8se from the prevlous flnancSal year$12019= 54,776.. 2020.. £55,067).
Th8 Mercian Benevolent Charity rgc8iv8s income from sefvlng members of lh8 Mercian Reglmenl who
fundraisa by embarklng on vadous sporting ever4ts to ochieve Income. The Cha￿tY 81so received fundraislng
income from indivldLbal8 that have arranged events such as Gharity golf events 8nd also bgnefits ffom donations
from the general publlc. 6ith8r dlrectly or vla the charlvs Just glving page and Vlrgln money glving paga.
Page 3

Tho Morclan Rqglmont Benevolent Charlty
Trustoos. r•port Icontlnugd)
For tho year andod 31 Alarch 2021
Fln•n¢lal rnvlew {contlnuedl
d, Inv•stmgnt pollcy and perfomianco
An investment strategy for th8 Charity was approvgd by the Trustees, recoonl8Sng the lOn￿tern nature of the
Charity and its obligations. The oblectlve 18 to grow the Income and r88eThes of the Ch8rlty whllè having
SLrfNcl8nl Ilquidlty to m801 forgs898bla needs in the Short temi.
Investoc Wealth and Inve$lment was appolnted Investment Manager In August 2012 for the unrestricted furbds
of the Benevolent Ch8rity. Th8 int8ntion is th8t the Investments ¥MII b8 in 8 multi a8sel In￿Me portrolio spread
o¢ros$ 0 numbgr of collodve investment vehlcles and a8801 cla8888.
Struclure, govornance and management
Con•titutlon
Declarations of Trust in r8lation to The Merclan Reulmental Charity and The Mercian Regim8nl B8n8volgnt
CharSty Ilhe 'Charities were made on 7 December 2006 and th8s8 were spaled by the Charity Commission on
23 January 2007. The charities were reglslered a8 Ilnked charitie8 With th8 Charlty Reglslralion No. 1117653.
The Trust885 olected to Sgparately register The Mercsan Regiment Ben8vol8nt Charity wlth effeol Irom 1 Aprll
2008. the Charity Commission agreed lo Ihls request and allocated the Charity Registration No. 1125179.
Th9 Gharrtias were created In antlclpatlon of the f()matlon of the Merclan Reglmenl C￿ 31 August 2007 by the
mgrger of the 22nd ICheshSrel Reglment, The Worc88tershlre and SheThffjcd Forasl8rs R8gSmgnl and The
staffordshir& R8gim&nt {Th8 Prince of Wales's) together with elernents of th8 West Midlands Reglmonl.
Terrltorial Army unlt.
I Ihrg9 rggular am)y reglm6nt8 worked togather to create the Mèrclan Roglmgnl ctharrties and agre8d that on
the formation of the new Reglment they wtyjld Iransler their charitablg assgts and responslbllltles to the
ch8rilie8.
b. Mgthods of appolntmont or •1octlon of Trust•
Th8 Chartèr for the Regimentsl Council the Merciah Reglment, datsd 7th December 2006, staled th8
composllion ol the council belng.. Th8 Colonel of the Règiment. B8ttalion Commanding Officers, Deputy
Colonels ol the Raglmanl - r8pras9n￿ng former Reglm&nts and Territorial Battalkjn, up to 8 othor members,
init*ally including at least 2 from each fom)er Reglment, nominated by the Colonel of th9 Reglmanl and
approved by a majority of th8 Council, to act as 8dvl8er8 In speclflc areas of responsibility allocat8d by the
Colon81 of the Reglment.
c. Organiffjational #tructuro and d•clslonwmaklng poll¢les
The trustees. all of whom ar8 members of the Councll of the MerGl8n Reglment, megt not le8S than half yeaty.
There are appropriate committe68 of trusteès wlh clearty deflngd writt8n terms of reference dealing such
matters as Chattels, Musoums, Finance and Inveslm8nts..Commlttg9 report5 are provlded to the full Counc41.
Detailed annual budgets are prep8rod and sUbmItt￿ lo th¢ Councll for approval, and actual Income 8nd
expendltur818 CClnPaf8d th budget forecasts.
The Merclan 8enevolenl Ch8Vty has a subctsmmittoe C￿$*$11ng of eight members, two of which are Regifflentsl
Twsl8e8. Th8 subcommittee meet al lea$1 kn'ce a year, overseeing all aspects of the managèment of the
finance8.
Page 4

Tho Mgrolan Reglmwt 8gDgvolgnt Charlty
Trustg0s' report Icontlnugdl
For tho yaar •nded 31 March 2021
Structurè, g¢>vemance •nd managomènt Icontlnuodl
d. Flnanclal rl8k managgmont
Thè trustees have 8 duty to identfy arKt review the risks lo which the charity is axposgd and lo ensure
Bppropriate ¢onlrols arp in place to provlde reasonable ossurance agalnst error and fraud. Financi818ccoUn￿n9
by the Flnants Officer Is supgrylsed by the Ch8lrman of Ihg Flnance Commlttee 8nd thg Charfty Secretary
caines out o monthly ¢hgck of all Iransodlons procgss8d by Ihg Flnonco Officer.
Plans foT lu¢uro perlod¥
Golf Mal¢hes are planned to rai88 funds for th8 charity next financial year. Arrangements are tfying to be made
to make visits and provide talks about the charity to rai38 awareness and funds.
The ThKwgh Life Gare OffieAr has been pr(Mnoling 8 new long-torm 8tudy of Inlurod servlcamen from
Opor8fjonal tours called the Armed Servkes Trauma Rghabilltallon Outcomo Study. The alm of this study is to
investlgate the long-term battlefield trauma casualli8s and their future hoallh implications over a 20-year peiiod.
A lesl group of 500 casualli88 ￿511 be selected from across the three Armed Services {wilh 300 being allocated
to the ￿mY), whlch wlll hav8 full medic81888888menl8 carri6d out on 8CC8Ptance lo the Irlal and then 3. 5, 10.
15 and 20 years followlng the Ilr81 vi851. The a8plr8tlon 18 to get as many Merclan's onlo the tri818s posslblg.
ith are held on their central database. So lar. 47 Mercian par8onn&5 havo accepted.
8t•t•m•nt of Tru•tees' resp¢￿SIbIlItIeS
The Trustees are rgsponsiblo for preparing tho Truste8s' rgp¢Kt and th8 financial statements in accordance ￿th
appllcable law and Unlted Klngdom Accounting Standards (United Kingd¢yn Generally Accepted Accountlng
F¥aclicel.
The law appllcable to charlues in Englond & Wales requlres th8 Trust88s to Pfepar6 financial slat8men18 for
each fin8nd81 year which 9Sve a true and fair view of the slate of affaits of the Charity and of its Incomlng
resources and application of resources, Includlng Its Income and expendilurg, for that period. In prep8ring these
flnanclal 8ts1em8nts, th6 Trustees are required to:
selgcl suitablo accounling policies and then apply them consislenlly..
observe the mathods ar￿ principles of the Charities SORP (FRS 1021,.
"makè judgements and accounung estlmales that are reasonable 8nd prudent..
slate whether applicable UK Accounllng Standards {FRS 102) hav8 been fcAlowed. subject lo any
mal8rl81 dep8rture8 disclosed and explained in th8 fin8ncial stslements,.
prepare the financial slatements on tha goiry concam bosis unless It is inapproprl8ts to pr88ume that the
Charity wll Con￿nUe In buslness.
The Trustse8 are responslble for keeplng adequate accountlng records that are SLrfid8nt Io Show and explaSn
the charl1￿9 transacllons and dlsc108e wlth reasonable a¢cur8cy al any tbmg the linancial position of the Charlty
and enable thom to ensur8 that the financial 8talemenl8 comply wlth the Charities Act 2011, the Charity
(Accounts and Report81 Régulallons 2008 and th6 provl8lons of the Tryst deed. They are also responslble for
safegu8rdlng the assets of the Charity and hence f¢y tsklng reasonable steps ft)r the preventlon and detection of
froud and other Irreguladtlos.
od by ordgr of the members of the board of Trustees and Slgngd on their behalf by.
Brlg P KlmbgrOBE
Deputy Colonel Benavdence & Finance
Oat8: £1/10/£i
P.age 5

Thè Mercian Re9lm•nt Benevolont Ch•rlty
Ind•p•nd•nl oxamlnw'• r•port
For th• y••r ond•d 31 Match 2021
Independent examinerf8 report to the TruJtee8 of The Merclan Reglment 8enevol8nt Charlty
I'the CharIt￿l
I roport to the chartty Truste88 on my examlnatlon of the accoLmts of the Charlty for tha year 8nd8d 31 March
2021.
Ro$ponslbllltlg$ and basls of report
As the Trustee5 of the Charlty you are resptsnslble for the praparatlon of tha account8 In 8ccordanc6 wllh the
rgqulr9m8nls of th9 Charities Act 2011 I'lhg 2011 Act,).
. I report In respect of my examlnatlon of the Charftys accounts C8rfed OLrt under 8&Ct4on 145 of the 2011 Act and
in carrying out my examination I have fdlowed th8 applicable Directions given by the Charity Commission under
Section 14515llbl of the 2011 Act.
Indèp8nd•nt •xamlnerf8 8tatèm•nt
Your attenllon Is drawn lo Ihg fact that the Charlty has prepared the accounts In accordance Accounllng
and Reporbng by Charilias.. Slatem8nt of Recommand8d PrBctic& applicabl8 lo charftias preparing their
accounts In accordance wllh th8 Flnanclal Reportlng Standard appllcable In the UK and R8publlc of Ir818nd
IFRS 102} In preference to the Accounting and Reporting by CharSUgs.' Stslement of Recommended PraclSce
Is$uod on 1 Aprtl 2005 whlch Is roforr8d to In the oXt8nt regulallons but has been wlthLlrawn.
l understsnd that Ihls has been done In order for the accounts to provlde a true and falr ￿eW accordance
th8 Ganorally Ac¢epl8d Accounting Pract*c8 gffeclivg for reporting periods beginnlng on or after 1 January
2019.
I have completed my examination. I confirm tho1 no mattars have coma to my attention in connection wlh t
examination ¥ving me cause to believe that In any matedal resp8cL'
accounting records wore not k8pl in r8spoct of tho Charity as r8quir8d by seclkjn 130 of Iho 2011 AOL. or
the accounts do not accord with those records,. or
the accounts do not comply with th8 applicablè requirements concerning the form and contonl of
accounts set out in the Char*tie5 {Accounts and Reports) Regulations 2006 other than any requirement
that the accoun18 g4v8 a 'true and fairf vlew whlch is not a matter consTdered as part of an independent
8xaminatlon.
I have no concem8 and have come across no other matters in connection with tho examination lo which
attenllon should be drawn In thls report In order to onabla a propor undeTStanding of the accounts to be
reached.
Th18 rewrt Ss made 8018ty to the CharlV8 Trustees. 88 a body, In accordance ￿th Part 4 of the Charltie8
(Accounts and Reports} Regulatlons 2008. My work h88 been undertak8n 80 that I might 8tate lo the Ch8rltys
Trustees Ihose mallers l am requlred lo stats to them In an Indepgndenl 8xamlnerfs report and for no olhor
purposg. To the fullosl extent permStted by law, I do not 8ccept or assume respon8lbility to anyone other than
the Charlty and the CharlW8 Trustees as a body, for my work or for thls report.
Signgd".
Dated: Ii/ia/ii
Andrew Morri5 FCA
Dalns LLP
Blmilngham
Pa98 6

Th• Morclan Rogiment B?novolgnt Charfty
3t•tement olllnan¢lal #ctfvitlos
For tho ygar ondgd 31 March 2021
Unrestrlcted
funds
2021
Total
fund$
2020
funds
2021
Noto
Incom• from:
Donation5 and legacies
Challtable activities
Investments
71,475
9.718
41.041
71.475
9,718
41.041
71,559
11,063
49.453
Total income
Exp•ndituro on:
Raising funds
Charllable acllvllles
122.234
122,234
132,075
10,028
63,439
10,028
63,439
10,115
87,882
Total expondlture
73,467
73,467
97,997
Nel galn81{1058esl on Investments
11
276,955
276,955
(162,305)
Nel mvoment In funds
Reconclllatlon of fund$:
Total funds brought forw8rd
Net movement Sn fvnd8
325,722
325.722
(128,227)
14
1N63.037
325,722
1.463.037
325.722
1,591.264
(128.227)
Total fund8 canled forward
14
1,788,759
1.788.759
1,463,037
The note8 on pages 9 to 17 form part o* thes6 flnanclal 8tatsments.
P808 7

The Merclan Reglm•nt Ben•volont Charlty
8•lanc• •h••t
AS at 31 March 2021
2021
2020
Noto
Flxod •88ots
Investmgnts
Current assots
11
1,702.913
1,394,974
Debtors
Cash at bank and In hand
12
8,287
91.857
4,692
66,560
98.144
71,252
Creditors.. amounts falling du8 wilhin on8
ar
13
(12.300)
13,1891
Not curront assgts
68,063
Total nèt ￿￿•t
1,788,759
1,463,037
Charlty funds
Unro$trlctgd fvndB
14
1.788.759
1.463.037
Tatal funds
1.788.759
1,463,037
The financlal 8latements were approved and aulhori$ed for Issue by tho TfU51ee5 and 81gned on Ihelr behalf ty.
Brig P Kimber 08E
Deptsty Colon818enevolenc8 & F￿anCe
Dats. 11 /i¢J/ii
The notes on pag88 9 to 17 form part of these financial slat8m8nts.
Page 8

M•rclan Reglment Benevolent Gharfty
Not•B to th• financial statemonts
For th• year ended 31 March 2021
General Inforniatlon
The Mercian Reglment Benèvolent Charlty Is a prSvale chadty f8gistered with the Charity CommlssSon In
England & Wales. Its reglstered numLw and registered office address are given on page 1. The charitys
objects and prtndpal aCtI￿t￿ are sel out in the Trustees, Report.
Accountlng pollcles
2.1 Basls of preparatlon of flnanclal statomgnls
The financi818tstem8nts have been prepared In 8¢wrdanca wlth the Ch8dtles SORP {FRS 102} -
Accounting and Reportlng by Charfll88'. Ststement of Recommgndad Practice applicable to char￿leS
prepallng th8ir accounts in accordance the Flnonclal Reporting Stsnd?rd applicable in the UK
and Republic of Ireland IFRS 1021 {effectlve l January 20191, the Financial Reporting Stsndard
8pplic8bS6 in the UK and Republlc of Ireland (FRS 102} and the Charities Act 2011.
The Merdan R8gimgnl Bgnevolenl Charity meats th& deflnllion of 8 publlc benefit gnllty-undor FRS
102. Assets and Ilabllltses are inilialty recognised at historical c08t or. Iransacll¢M valu8 un18SS
olheNlse stal8d In the relevant accounting policy.
2.2 Golng con￿rn
After making appropriate enqulrle8, the Trustees have a reasonable expeclation that the Charlty has
ad&quate resources to continue in Operallonal existence for the for8s8eable lulure. For thls reason.
they continue lo 8dopl thé golng concem ba818 In pr8partng the financial statements.
2.3 Incomo
All Income is rewgnisod once the Charlty h88 ant1￿ement to the Income, It 13 probable that the
Income wlll be recelved arKI the amount of Incomè rec8lvable can be me88ured rellabty.
The recognition of irKomo from legacies is dgpend8nl C￿ 8Stabli3hing entlllemenl, the probability of
receipt and the ability lo eslimotg wlh sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exi818 when Ihe Charity has SLrfNclent evldancè that a gSfl has been 19ft 10 .
them Ilhrough knowledge of the existence of a valid will and Iha death of th6 benefactor) and thg
Bxgculor Is satisfied that the property in qu8Stlon wlll not be required to satisfy claim8'in the estate.
Receipt of a legacy musl be recognI8ed when r( is probablo that it wll bs received and the falf valuè
of the amount recewabte, whlch ￿11 generally be the expected cash 8m¢)unt to ba d18trlbLSted to tho
Charlty. can be reliably measured.
Incom& lax recoverable in ralatson to donations r8ceived under Glft Ald or deeds of covenant is
recognised al the Ilme of Ihg donation.
In￿me tsx r8cover8ble In relatlon to Investment In¢om8 Is recognlsed at the Ilme the Invostrnent
Incomg 1$ receivable.
Pagg 9

The Merclon Reglmènt Benevolent Charity
Not•$ to tho flnanclal $tatsment8
For tht y•ar endod 31 March.2021
Accountlng pollcies (continued)
2.4 Exp•ndltur•
Expendlture 58 rectsanl8ed once there 18 a legal or constfuctive oblig81ion to transfer oconorn
beneffl to a thlrd paty, It 18 prob8ble that a transfer of economic benefits wlll b8 requlred In
setUem8nl and the amount of the obligation can bts mea8Ltr8d reliably. Expenditure Is clas51fi8d by
acllvlty. The costs of each activity are made up of the total of direct. costs and sharod costs,
Includlng support costs Involved In undèrtaking each activity. Direct costs attributabl8 to a singlg
acllvty 8re allocated dlrectly to that acllvty. Shared costs whlch contrfbute to more thon one act￿tY
and 8UPPOrt costs whlch are not attributsble to a slngle activity are apportlonad be￿en those
activities on a ba818 con818tenl the UBe of resourc8s. Central staff ￿$ts aro allocated on th8
basls of tlme 8p8nt, and dapreclallon chargès allocatèd on the porbon of the assays use.
Expendlture on ral8lng fvnd8 Includes 811 expèndltura Incurrod by th8 Charlty Io f8i8e funds for tt8
charitabl8 pur￿585 and includes costs of all fundroislng aotlvlues gvgnts and non-charltable tradlng.
Expèndlture on charftabla 8ctlv1￿ÈS Is Incurred on directly undertaking the aetiviti8s which lurther th6
Charlty'8 oblecllv88, a8 well a8 any asBoclated support costs. Support Costs are those costs Incurred
direthly in support of expenditure on the oblects of the charity and Include prolect management
carried out 81 Headquartèrs..
Grants p8yable 8re charged in the year w￿n the offer is made except In th08e case8 where the
offer Is condllional. stsch grants boing r8cognls8d as axpendlture when the condlllon8 att8chlng are
fulfilled. Grants offered subject to conditions which havo not boon met at Ihg year end are noted a8 a
c(Mnmltm8nt. iyjt rh)t accrued a8 expènditure.
Gran18 relumed to tha Charity in SLbch cases as th8y are no longer requlred or have not been fully
spent cannot be ￿liablY foreseen or m8asured and aro often relurngd In a different reportlng period
tr) that of the grant aw8rd and ￿e￿gnItIOn. For thes8 reasons. grants reWrned are recognised when
notllkatlon18 recelved of thè rfund and wesented in income from thar4tabl8 actlvitle8.
2.5 Intgr•st rocelvabl•
Int8f881 on funds hekt on dep05f( is included wh8n receivable and the amount can be measured
reliably by thè Charfty, Ihls Is Tronnal￿ Ltpon nolrficatlon of tho Inlgre8t P8ld or payable ty the
Institution with whorn the funds ar8 d8posltgd.
2.6 Invè8tments
Fixgd ass61 investmen15 ar8 a form of flnanclal Instwmenl and are Inltially recogni8ed at thelr
transaction cost and subsaquonlly measured at falr value at Ihe Balance sheet date, unless the
value cannot be measured relsably in which case It Is measured at cost le85 impairment. Inveslmgnl
galns and losses, whether realised or unrealised, are combln8d and presented as 'Gainsl(Lossesl
on Inv6stments' Irs Ihg Stal8manl of financial athllles.
2.7 Dobtors
Trad8 and othar dablors ar8 raccgnlsgd al the settlement amount after any trad8 db3count offered.
2.8 Cash at bankand In hand
Cash 8t bank and In hand Includes cash and short-lerm hSghly Ilquld investments whh a short
maturity of thr99 months or Igss from the dale of acqu181Uon or op8ning of thg dgposil or similar
account.
Page 10

Th Mèrclan R¢glmont Bonovolent Charlfy
Notes to tho flnanclal stat8m8nts
For Iho year and•d 31 March 2021
Accountlng pollcles Icontlnuod)
2.9 Llabllltl•s and provislons
Ll8blllU88 ar8 recconlsed wh8n there18 an obligation at the Balanc8 8h88t date as a Te5uIt of a past
event, 51 18 probable that a Iransfgr of eoonomic benefit will bè required In 88ttIoment, and the
amount of the settlement can be estimatgd reliably. Liabilrties are r8cogni8ed. al the amount that the
Charity antiapates 51 will pay lo setue the ¢Jebt or th8 amount il has reeeived 88 advanced payments
for the goods or servlces M must pm¥J8.
2.10 FlnanGlal InstrurnontB
The Charity only has financlal a8$ets and financial158bllille8 of a klnd that qualify as basic flnandal
Instruments. Basic flnanclal instwmen18 are Inllially recognlsed at Ironsacllon value and
subsequently measurgd 01 their settlefn8nl value with the excepuon of bank ¢oans which are
8ubBeouenlly me88ured at amoitlsed cost using the effeclbve inter88t method.
2.11 Fund accountlng
Genoral funds are unre8trictsd funds whlch are avallable for use at the di5crellon of the Tw8188s in
furth8rance of the general oblectlves of tho Charity and which have not bgan designalod for other
purposes.
All Income and gxp8ndrture in the year to 31 March 2020 was atlrlbutable to unrestricted funds and
Ihgrefot? full comparative notes have not boen presented in the following note8 to the financial
ststements.
In¢om• from donatlons and199xIgs
Unrn8trfcted
funds
2021
Total
funds
2021
Total
funds
2020
Donatlon8
Day's Pay Scheme
15.507
55.968
15,507
SS,968
16,493
55,086
71,475
71,475
71,.559
Page11

Th• Merclan Roglment Benevolent Charlty
Not•$ to the finAnci*l itat•m•nt¥
For lh• yfjar end￿ 31 March 2021
Income from charltablè actlvltleB
Unrnjtrlcted
lund$
2021
Total
fund8
2021
Total
funds
2020
Don8tlons- l Merclan
Donat4on8- 2 Merclan
Donatlons- 4 Merclan
Grants retumed
1,685
2,623
674
4,736
1,885
2,623
674
4736
2,671
1,661
184
6,647
9,718
9.718
11.063
Involtmènl Inc¢mo
Unrn$tri¢t•d
funds
2021
Tot•1
funds
2021
Total
funds
2020
Dlvldend and flxed Intsrasl receipts
Bank intsre8t
41,014
27
41,014
27
49,300
153
41,041
41,041
49,453
Pa99 12

Th• Morclan Roglm•nt 8gnevol8nt Charlly
Notgs to tho flnanclal 8tatem•nts
For the year ondod 31 March 2021
Costs of ralslng funds
Unrnstrlctod
funds
2021
Total
lunds
2021
Total
funds
2020
In￿tmant man8gèmenl feos
10,028
10,028
10,115
Analys1¥ of grnnts
Grants lo
Indlvldu?18
2021
Total
funds
2021
Total
funds
2020
Bgnovolgn¢o grants
48,518
48.S18
71,371
Pag813

Th• Marclan Reglment Bgnovolgnt Charlty
Notss to the financlal Statsmonts
For tho yoar •nd¥d 31 March 2021
Anatysls gf •xpondltur• on chailtable actlvlti
Actlvltlos
undertaken
dlroctly
2021
Grant
fundlng ol
activities
2021
Support
costs
2021
T¢tal
funds
2021
rotal
tunds
2020
Benevolence and relief
12.328
48.518
2,593
63,439
87,882
Tot•1 2020
13,119
71,371
3,392
87,882
Analygis of direct CO8t•
Total
fund8
2021
Total
fund8
2020
Army Benevolent Fund
Comradeship and Remembranc&
other expen888
10.000
1,354
974
10,000
2,193
926
12,328
13,119
Analysls of support Costs
Total
funds
2021
Tol•l
funds
2020
Management costs
AccounlanGy costs
Postsgg and prinlSng
Other admlnlstrotive ¢o$ts
787
2.320
170
115
2,31JO
151
2,593
3.392
Page 14

Tho Merclan Reglment Bonevolefit Charity
Note8 to the flnan¢lal stat9ments
For the year endod 31 March 2021
Independent examlnerf8 remunerntlon
2021
2020
Fees p8yabl6 to the Charitys independonl examinar for Ihg indopgndent
ex8mination of the Challvs annual accounts
2,300
2,280
10. Tru$ts•8' rnmun•ratlon and •xpen••8
During the yaar, no Trustees reGeiv8d any ramuneration or other b8n8fits (2020- £NILJ.
DurfrMJ the y8ar. rK> Trustse expgnsgs havg bagn Incurr8d (2020- £NILJ.
11.
Flxod assat Inv•stm8nts
Ll¥tgd
Invostrnont$
Market value
Al 1 AprS12020
Addlt¢on8
Dlsposals
R8valuatlOf18
Cash trydding movaments
1,394,974
245,220
1251.505}
277.959
36.267
At 31 March 2021
1,702.915
Net book valu•
At 31 Plarch 2021
1,702,915
At 31 MarGh 2020
1,394,974
Investmonts at market valug cofflprlso:
2021
2020
Listed inveslinents
Cash and cash equivalents
1,626,284
76,631
1,326,620
68,354
1,702,915
1.394.974
Pago 15

The Merclan R•glmont Bongvol•nt Charlty
Notés to tho flnanclal stolgmonts
For tho year ended 31 March 2021
12. Debto
2021
2020
Other debtors
6.287
4,692
13. Crndltorn: knount• lalllng du• wlthln one year
2021
2020
Accruals and deferred Income
12,300
3,189
Includod in creditors is deferred incom8 of £Nil12020 - £8891 in respect of fundralslng events planned for
'the next fin8nci81 year.
14. Stat•m•nt offund
statemont of fvnds- current yoar
Balanco at
31 Marcli
2021
8alanco at 1
April 2020
Gainsl
(Lo8se8)
Income Expendliure
Unr#itrl¢tod funds
General Funds
1,463,037
122,234
173,4671
276.955
1.788,7S9
statgment of funds - prfor yur
84lanc• at
31 March
2020
Balane• at
1 Aprll 2019
Galnsl
ILo8svI
In¢om¢ Exp¢ndltur8
.Unrestrf¢tsd funds
General Funds
1,591.264
132,075
197.997) 1162.3051 1.463,037
Pag8 16

Th Merclan Roglmont Benevolont Charlty
Notas to th• financlal ststemènt8
For the y•8r endod 31 March 2021
15. Analysls of not assets botwoon fvnd$
Analysis of net a••ets betwe8n funds . currnnt yoar
UnrgStrlctBd
funds
2021
Total
fund•
2021
Flxed 88Set Investmgnts
Current assets
Credllor8 due wlthln one year
1,702,915
98,144
(12,3001
1,702,915
98,144
112,3001
Total
1,788,759
1.788,759
Analy•l• of not assets botwogn fvnds - prlor yoaT
Unrestrlcted
funds
2020
Total
funds
2020
Fixed asset inve$thients
Current assets
Creditors due withln on8 year
1,394,974
71,252
{3,1891
1.394,974
71,252
13,1891
Total
1.463,037
1,463,037
16: Rglated party tr•nsactlon8
Therg were no rel?18d paty transactions requlrSng dlsclosure in tha reporting p6rt0d.
P8g8 17