Docusign Envelope ID.. 0253985>5214472%677A-942882E964EB
Chority number.. 1125179
The Mercian Regiment Benevolent Charity
Trvstees, Report ond Finoncial Statements
For the yeor ended 31 Morch 2024
.JDAINS
> AUDIT

Docusi9n Envelope ID". 02539B53-52144729-877A-942B82E964EB
The Mercion Regiment Benevolent Charity
Contenis
Page
Reference ond administrative details of the Chority. its Trvstees ond odvisers
Trustees, report
Independent exominer's report
Statement of financial activities
Bolance sheet
10
Notes to the financial stotements

Oocusign Envelope ID.. 02538B53-52144729-B77A-942882E964EB
The Mercian Regirnent Benevolent Charity
Reference ond Administrative Detoils of the Charity. its Trustees and Advisers
For the year ended 31 March 2024
Trusiees
Lt Gen Sir lan Cove KCB. Chairman and Colonel of Regiment
Brig (Retd) S Bonton OBE. Deputy Colonel Heritoge
Brig C Ginn CBE. Deputy Colonel RRCM
Brig (Retd) P Kimber OBE, Deputy Colonel Finance
Col (Retd) A Walton MBE
Lt Col G Brown. COI Mercion
Lt Col C Whitting. C04 Mercion (appointed 27 April 2023)
Lt Col (Retd) M Jockson OBE
Lt Col (Retd) N Mockinstosh
Maj (fietd) M Bonks (appointed 30 October 2024)
Mr M Elliott
Lt Col R Spolton, C04 Mercian (resigned 27 April 2025)
Charity registered number 1125179
Principal office
Regimental Heodquorters
The Mercian Reglment
Whittington Borrocks
Lichfield
Stoffordshire
WS14 9TJ
Finonciol secretary
Mrs P Mear
Accountonts
Doins Audil Limited
2 Chomberloin Square
Birmingham
B3 3AX
Bankers
CAF Bonk
25 Kings Hill Avenue
West Malling
ME19 4JQ
Royal 8onk of Scotland
200 Fowler Avenue
Farnborough
GU14 7JP
Investment Managers
Investec Wealth and Investment
50 Greshom Street
London
EC2V 7QN
Poge 1

Docusign Envelope ID.. 02539653-52144729-B77A-942B82Eg84EB
The Mercian Regiment Benevolent Charity
Trustees, report
For the year ended 31 March 2024
The Trustees present their onnuol report together with the financial statements of the Chority for the yeor 1 April 2023
to 31 March 2024.
Objectives and activities
a. Objectives and aims
The principle objective of The Mercian Benevolent Charity is the moking of grants for the relief. generolly or individuolly.
of past ond present members of the Regiment and former Regiments and their dependents who ore in need. hordship
or distress.
During the reporting yeor, 1 April 2023 to 31 Morch 2024. the main octivity for the public benefit involved the giving of
grants for relief totolling £63,569 (2023 £69,222).
In setting objectives and planning for activities, the Trustees hove given due consideration to general guidonce
published by the Charity Commission reloling to public benefit. including the guidonce 'Public benefit., running a charity
(PB2)'.
b. Activities undertaken to achieve objectives
During o financiol year when there were still some restrictions. it wos remorkable thot the chority continued to benefit
finonciolly. Mercion Service Personnel fund roised £5K.
Furthermore, talks and golf matches were arronged. helping to roise some of the funds paid to the charity. Severol
donations were poid in memory of loved ones passionole obout the chority.
c. Grant-moking policies
Regimental Instruction GS The Mercion Regiment Benevolent Chority operating procedures amendment 18 (doted 15
May 2022) details how grants will be manoged.. in summary thot only members of the Mercion Regiment or its
ontecedent Regiments and their close family are entitled to assistonce from the chority. the lotest omendment now
includes provision for serving Fleservlsts/Veterons.
Members thot have not subscribed to the salary sacrifice scheme referred to os the Doys Pay Scheme will not be
eligible for ossistonce unless there ore extreme mitigating circumstances.
Also detoiled are how applicotions should be submitted for considerotlon, what is deemed os worthy for a gront to be
owarded, the levels of disbursement and who can approve them. All grants ore paid to o third porty and not directly to
the applicont.
Poge 2

Docusign Envelope 10.. 02539B53-52144729-B77A-942B82E964EB
The Mercian Regiment Benevolent Charity
Trustees, report (continued)
For the year ended 31 March 2024
Achievements and performance
o. Review of activities
The main octivity of The Mercian 8enevolent Chority is the provision of gronts, the key oreas of requests are received
for". while ond brown goods. age related ossistance (electric powered vehicles, stair lifts and riser chairs). rentol deposits
and priority debts. Annually the charity donotes £10K to The Army Benevolent Fund.
The Mercian Benevolent Charity hos o protocol whereby at the very minimum they will contact bereaved fomilies that
have opproved contact as per GDPFI., on the anniversary of their Soldier's deoth, the onnuol Crich pilgrimoge ond at
Christmas. Furthermore. the charity purchoses and provides poppy wreaths and remembrance crosses for all memorial
events.
Throughout the yeor. presentations are provided to the Regular and Reservist serving personnel of the Mercion
Regiment to inform them about solory socrifice.
SSAFA cose workers, receive briefings ossisting them with how to efficiently submit gront oppllcotions enoblin9 them to
receive o prompt ond successful result.
Financiol review
a. Going concern
After making appropriate enquiries. the trustees hove o reasonable expectatiorn thot the Trust has adequate resources
to continue in operational existence for the foreseeable future. For this reoson. they continue to adopt the going
concern basis in preparing the finonciol stotements.
b. Reserves policy
The copitol ossets of the Mercion Benevolent Charity sholl not fall below £1m.
If Ihot level is breoched ol any time. the Charity's Stotement operating procedure shall be reviewed so as to limit gronts
ond/or the trustees shall launch a fund-roising campaign designed to brin9 the capital ossets bock up to the reserve
level.
c. Prlncipal funding
The principle source of funding for the Mercion Benevolent Charity has been through the receipt of monthly
contributions made by serving members of the Mercian Regiment under the Doy's Pay scheme. The Mercian Reservists
hove joined this scheme. ond this finonciol yeor's overoll income wos £57K. this being o slight increase f rom lost yeor
(2019. £55K., 2020-. £55K,' 2021.. £56K, 2022.. £58K,' 2023.. £57K).
The Mercian Benevolent Charity receives income from serving members of the Mercian Regiment who fundroise by
embarking on vorious sporting events to ochieve income. The chority olso received fundroisirng income f rom individuols
thot hove orranged events such as charity golf events, o drum display also benefilting donations from the generol
public, either directly or vio the charity's Just Giving page.
Poge 3

Oocusign Envelope ID". 02539B53-521447Z9-877A-942B82E964EB
The Mercion Regiment Benevolent Chority
Trustees, report (continued)
For the yeor ended 31 March 2024
d. Investment policy and performance
An Investment strategy for the Charity wos approved by the Trustees. recognising the long-term nature of the Charity
ond its obligations. The objective is to grow the income ond reserves of the Chority while hoving sufficient liquidity to
meet foreseeable needs in the short term.
Investec Wealth ond Investment wos oppointed Investment Manager in August 2012 for the unrestricted f unds of the
8enevoleni Charity. The intention is thot the investments will be in o multi osset income portfolio spread across a
number of collective investment vehicles and asset classes.
Structure, governance ond management
a. Constitution
Declarotions of Trust in relotion to The Mercian Regimental Chority ond The Mercion Regiment Benevolent Chority (the
"Charities" were made on 7 December 2006 ond these were sealed by the Charity Commission on 23 Jonuory 2007. The
chorities were registered as linked charities with the Charity Registration No. 1117653. The Trustees elected to seporotely
register The Mercian Regiment Benevolent Charity with effect from l April 2008, the Charity Commission agreed to this
request and ollocoted the Chority Registration No. 1125179.
The charities were creoted in anticipation of the formation of the Mercian Re9imeni on 31 Au9USt 2007 by the merger of
the 22nd (Cheshire) Regiment. The Worcestershire and Sherwood Foresters Regiment ond The Staffordshire Regiment
(The Prince of Woles's) together with elements of the West Midlands Regiment. o Territorial Army unit.
A11 three regLJlar army regiments worked together to create the Mercion Regiment chorities ond agreed that on the
formation of the new Regiment they would transfer their choritoble assets and responsibilities to the charities.
b. Methods of oppointment or election of Trustees
The Charter for the Regimental Council the Mercion Regiment. doted 7th December 2006, stoted the composition of the
council being.. The Colonel of the Regiment. Battalion Commonding Officers, Deputy Colonels of the Regiment
representing former Regiments ond Territorial Bottalion, up to 8 other members. Initiolly including at leasi 2 from each
former Regiment. nominated by the Colonel of the Regiment ond approved by a mojority of the Council. to oct os
odvisers in specif ic areas of responsibilily ollocoted by the Colonel of the Regiment.
c. Organisotional structure and decision-making policies
The trustees, all of whom ore members of the Council of the Mercian Regiment. meet not less than holf yearly. There
ore oppropriote committees of trustees with clearly defined written terms of reference deoling Wlth such matters as
Chottels. Museums. Finance ond Investments. Committee reports are provided to the full Council.
Detailed onnuol budgets ore prepored and submitted to the Council for approval and actuol income and expernditure is
compored with budget forecosts.
The Mercian Benevolent Chority hos a SL)bcommittee consisting of eight members. two of which are Regimental
Trustees. The subcommittee meet ot least twice o year. overseeing all aspects of the management of the finonces.
Page 4

Dr>cusign Envelope 10.. 0253985>52144729-B77A-942B82E964E8
The Mercian Regiment Benevolent Charity
Trustees, report (continued)
For the year ended 31 March 2024
Structure. governance ond manogement (continued)
d. Policies adopted for the induction and training of Trustees
The Charter also stotes that the Regimental Secretory will issue each trustee with the trust deed, ony omendments
thereto. the most recent report and occounts, ond current operating guidelines ond is to obtoin on acknowledgment
signoture to thot effect. Selected trustees ond staff attend seminors orgonised by the chority's fund monagers that
include governonce and investment.
e. Financial risk monagement
The trustees hove o duty to identify ond review the risks to which the charity is exposed ond to ensure appropriate
controls ore in ploce to provide reosonoble assuronce ogoinst error and fraud. Financial accounting by the Finonce
Officer is supervised by the Cholrmon of the Finance Committee and the Churity Secretary carries out a monthly check
of oll tronsoctions processed by the Finance Officer.
Plans for future periods
The Trustees having been dealing with the implications of the loss of the 2nd Bottolion. which entails pocking. moving
and relocating chattels and Regimentol property. Furthermore, the requirement of laying up the colours,
Since 2007 The Charity has not been drawing on the income generated by the investment portfolio but insteod
reinvesting whilst cognisont that in the future may need to alter this to receive dividends.
Golf Motches are plonned to raise f unds for the chority next f inanciol year. Arrongements are being mode to moke visits
ond provide lalks about the charity to roise oworeness and funds.
The Through Life Care Officer hos been promoting a new long-term study of injured servicemen from Operationol tours
called the Armed Services Trauma Rehabilitation Ovtcome Study. The aim of this study is to investigate the long-term
botilefield troumo casualties ond their future heolth implications over 0 20-year period. A test group of 500 casualties
will be selected from ocross the three Armed Services (with 300 belng allocated to the Army). which will hove full
medicol assessments carried out on occeplonce lo the trial and then 3, 5. 10. 15 and 20 yeors following the first visit. The
ospirotion is to get os many Mercion's onto the trial as possible which are held on their central databose.
Page 5

Docus¢gn Envelope ID.. 02539B53_52144729-B77A-942B82E964E8
The Mercion Regiment Benevolent Chority
Trustees, report (continued)
For the yeor ended 31 March 2024
Statement of Trvstees, responsibilities
The Trustees ore responsible for preporing the Trustees. report and the finoncial stotement5 in occordonce with
opplicable law and United Kingdom Accovnting Standords (United Kingdom Generolly Accepted AccoLJnting Practice).
The law applicoble to chorities In England & Wales requires the Trustees to prepore financial statements for each
finonciol which give a true and fair view of the stote of offoirs of the Chority ond of its incoming resources ond
opplication of resources. including its income ond expenditure. f or that period. In preporing these finoncial statements.
the Trustees are required to.,
select suitoble occounting policies ond then opply them consisleF)tIy",
observe the methods and principles of the Charities SORP (FRS 102).,
make judgements and accounting estimotes thot are reasonable and prudent,.
state whether opplicoble UK Accounting Standards (FRS 102) have been followed. subject to ony material
departures disclosed ond explained in the f inoncial stotements:
prepore the financial stotements on the going concern basis unless it is inoppropriote to presume thot the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records thot ore sufficient to show and explain the
Charity's transoctions ond disclose with reosonob1e occurocy ot any time the financial position of the Chority ond
enable them to ensure that the finonciol stotements comply with the Chorilies Aci 2011. the Chority (Accounts ond
Reports) Regulations 2008 ond the provisions of the Trust deed. They are olso responsible f or safeguarding the assets
of the Chority ond hence for taking reasonable sleps for the preventlon and detection of fraud and other irregvlarities.
Approved by order of the members of the boord of Trustees ond signed on their behalf by..
Docu8lgned by.
Brig (Retd) P Kimber OBE
Deputy Colonel Benevolence & Finance
Date.. 4 December 2024
Poge 6

Doeusign Envelope ID.. 02539B53_52144729-B77A_942B82E964EB
The Mercian Regiment Benevolent Charity
Independent Examiner's Report
For the year ended 31 March 2024
Independent Examiner's Report to the Trustees of The Mercian Regiment Benevolent Charity ('the
Charity.)
I report to the charity Trustees on my examination of the accounts of the Chority for the year ended 31 March 2024.
Responsibilities and 80sis of Report
As the Trustees of the Chority you ore responsible for the preparation of the occounts in accordance with the
requirements of the Chorities Act 2011 ('the 2011 Act,).
I report in respect of my exominotion of the Charity's occounts carried out under section 145 of the 2011 Act ond in
corrying out my exominotion I have followed the opplicoble Directions given by the Charity Commission under section
145(5)(b) of the 2011 Act.
Independent Exominer's Stotement
Your attention Is drawn to the fact that the Charity has prepured the OCCOL)nts in accordonce with Accounting and
Reporting by Chorities.. Statement of Recommended Proctice opplicable to chorities preporing their accounts in
accordance with the Financial Reporting Standard applicoble in the UK and Republic of Irelond (FRS 102) in preference
to the Accounting and Reporting by Chorities.. Stotement of Recommended Proctice issued on 1 April 2005 which is
referred to in the extont regulotions but has been withdrawn.
l understond thot this hos been done in order for the accounts to provide o true and fair view in accordonce with the
Generally Accepted Accounting Practice effective for reporting periods beginning on or ofter1 Jonuory 2015.
I hove completed my examination. I confirm that no matters hove come to my attention in connection with the
examination giving me cause to believe thot in any materiol respecl..
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act.. or
the occounts do not occord with those records,. or
the account5 do not comply with the opplicoble requirements concerning the form and content of occounts set
out in the Chorities (Accounts and Reports) Regulations 2008 other than any requirement thot the accounts give
a 'true ond fair, view which is not o motter considered os port of an independent exominolion.
I have no concerns and hove come ocross no other molters in connection with the examinotion to which attention
should be drown in this report in order to enable o proper understanding of the occounts to be reached.
Page 7

Docusign Envelope ID.. 02539853-52144729-677A-942882E964EB
The Mercion Regiment 8enevolent Charity
Independent Examiner's Report (continued)
For the year ended 31 March 2024
This report is made solely to the Charity's Trustees, os o body. in occordonce with Port 4 of the Chorities (Accounts ond
Reports) Regulotions 2008. My work has been undertaken so that I might state to the Chority's Trustees those matters I
am required to state to them in on Independent exominerfs report ond for no other purpose. To the fullest extent
permitted by law. I do not occept or ossume responsibility to onyone other thon the Chority and the Charity's Trustees
as o body, for my work or for this report.
Signed..
Doted. 4 December 2024
Andrew Norris FCA
Dains Audit Limited
eirminghom
Page 8

Oocusign Envelope ID.. 02539B53_52144729_B77A.942882E964EB
The Mercian Regiment Benevolent Chority
Statement of financial activities
For the year ended 31 March 2024
Unrestricted
funds
2024
Total
funds
2024
Totol
funds
2023
Note
Income from:
Donotions and legacies
Charitable octlvities
71.202
71.202
70,966
9,738
9.738
8.836
Investments
55.018
55.018
43.108
Total income
135.958
135.958
122.910
Expenditure on:
Roising funds
Charitable activities
11,073
11.073
10.907
79.520
79,520
85.008
Total expenditure
90.593
90.593
95,915
Net income before investments
45.365
45.365
26,995
Net gains/(losses) on investments
84.783
84.783
(119.292)
Net movement in funds
130.148
130.148
(92,297)
Reconciliation of funds:
Totol fLJnds brought forword
Net movement in funds
1.814.675
1.814.675
1,906,972
130.148
130.148
(92.297)
Total funds carried forward
1.944.823
1.944.823
1.814.675
The note5 on poges 11 to 19 form part of these financial stotemenls.
Poge 9

Docusign Envelope ID.. 02539853-52144729-B77A-942B82E964EB
The Mercion Regiment Benevolent Charity
Registered number:
8olonce sheet
As at 31 Morch 2024
2024
2023
Note
Fixed assets
Investments
11
1.845,147
1,718.325
Current assets
Debtors
12
5.081
4,584
Cash ut bank and in hand
97.566
94,500
102.647
99.084
Creditors.. amounts folling due within one yeor
13
(2.971)
(2,734)
Net current assets
99.676
96.350
Total net assets
1.944.823
1.814.675
Chority funds
Unrestricted funds
14
1.944.823
1.814.675
Total funds
1.944.823
1.814,675
The f inanciol statements were opproved ond ovthorised for issue by the Trustees and signed on their beholf by".
Docusiynèd by..
8rig (Retd) P Kimber 08E
Deputy Colonel Benevolence & Finance
Dote.. 4 December 2024
The notes on pages 11 to 19 form part of these finonciol stotements.
Page 10

Docusign Envelope 10.. 02539B53-52144729-B77A-942B82E964EB
The Mercian Regiment Benevolent Chority
Notes to the finoncial statements
For the year ended 31 March 2024
General information
The Mercian Regiment Benevolent Charity is a private charity registered with the Chority Commisslon in England
& Wo1es. Its registered number ond registered office oddress ore given on poge 1. The chorlty's objects and
principal activities are set out in the Trustees, Report.
Accounting policies
2.1 8asis of preparation of financial statements
The finoncial statements hove been prepared in occordonce with the Chorities SORP (FRS 102) Accounting
ond Reporting by Chorities.. Stotement of Recommended Proctice opplicoble to chorities preparing their
accounts in occordonce with the Finonciol Reporting Standard opplicoble in the UK and Republic of Irelond
(FAS 102) (eff ective 1 January 2019), the Finoncial Reporting Stondord applicable in the UK and Republic of
Irelond (FRS 102) ond the Charities Act 2011.
The financial statements hove been prepared to give o 'true ond foir. view and hove departed from the
Chorities (Accounts ond Reports) Regulotions 2008 only to the extent required to provide o 'true and foir,
view. This departure hos involved following ihe Charities SORP (FRS 102) published in October 2019 rather
than the Accounting ond Reporting by Charities.. Statement of Recommended Practice effective from l April
2005 which has since been withdrawn.
The Mercion Regiment Benevolent Charlty meets the definition of o public benefit entity under FRS 102.
Assets ond liabilities are initiolly recognised at historicol cost or tronsoction value unless otherwise stoted in
the relevont accounting policy.
2.2 Going concern
After making appropriote enquiries. the Trustees hove a reasonoble expectation that the Charity hos
adequate resources to continue in operotionol existence for the foreseeoble future. For this reuson. they
continue to odopt the going concern bosls in preporing the finonciol stotements.
2.3 Income
All income is recognised once the Chorily has entitlement to the income, it is proboble that the income will
be received ond the omount of income receivoble con be measured reliobly.
The recognition of Income from legacies is dependent on estoblishing entitlement. the probability of receipt
and the obility to estimate wilh sufficient occuracy the amount receivoble. Evidence of entitlement to o
legacy exists when the Chority hos suffic1ent evidence thot a gift hos been left to them (through knowledge
of the existence of a volid will and the death of the benefactor) and the executor is sotisfied that the
property in question will not be required to solisfy claims in the estote. Receipt of a legacy must be
recognised when it is probable that it will be received and the foir volue of the amount receivoble. which will
generally be the expected cosh omovnt to be distributed to the Chority. can be reliably meosured.
Income tax recoverable in relotion to donations received under Gift Aid or deeds of covenont is recognised
ot the time of the donotion.
Income tox recoveroble in relotion to inveslment income is recognised ot the time the investment income Is
receivoble.
Page 11

Docusign Envelope ID.. 02539853_52144729_B77A-942882E964E8
The Mercian Regiment Benevolent Chority
Notes to the finoncial statements
For the year ended 31 Morch 2024
Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is o legol or constructive obligation to tronsfer economic benefit to o
third party, It is proboble that o tronsfer of economic benefits will be required in settlement ond the omount
of the obligotion can be measured reliobly. Expenditure is clossified by activity. The costs of each octivity
are mode up of the total of direct costs ond shared costs, including support costs involved in undertoking
each activity. Direct costs ottributable to o single octivity are ollocoted directly to thot octivity. Shored costs
which contribute to more thon one octivity and svpport costs which ore not oltributoble to o single octivity
are apportioned between those activities on a basis consistent with the Ljse of resources. Central staff costs
ore allocated on the bosis of time spent, ond depreciotion chorges allocated on the portion of the asset's
use.
Expenditure on roising funds includes all expenditure incurred by the Charity to raise f unds for Its chorilable
purposes and includes costs of oll fundraisin9 activities events ond non-charitable trading.
Expenditure on choritoble octivities is incurred on directly undertaking the octivities which further the
Chority's objectives. os well os ony ossocioted support costs. Svpport costs ore those costs incurred directly
in support of expenditure on the objects of the charity and include project monogement corried out at
Headquorters.
Gronts payoble ore chorged in the yeor when the offer Is mode except in those cases where the offer is
conditionol. such gronts being recognised as expenditure when the conditions ottoching ore fulfilled. Grants
offered subject to conditions which hove not been met at the year end are noted as a commitment. but not
tsccrued os expenditure.
Grants returned to the Charity in such cases os they ore no longer required or have not been fully spent
cannot be reliably foreseen or measured and ore often returned in a different reporting period to that of
the gront oward ond recognition. For these reosons, grants returned ore recognised when notificotion is
f irst received of the refund and presented in income f rom choritoble octivities.
2.5 Interest receivable
Interest on funds held on deposit is included when receivoble and ihe amount can be measured reliably by
the Chority," this is normolly upon notificotion of the Interest paid or poyoble by the institution with whom the
f unds ore deposited.
2.6 Investments
Fixed asset investments are a form of financial instrument ond ore initially recognised at their transoction
cost ond subsequently measured ot fair volve ot the Balance sheet date, unless the volue connot be
measured reliably in which case it is meosured at cost less impairment. Investment goins and losses.
whether realised or unreolised, ore combined and presented as 'Goins/{Losses) on investments. in the
Statement of f inuncial octivities.
2.7 Debtors
Trade ond other debtors are recognised at the settlement amount after ony trade discount offered.
Poge 12

Oocusign Envelope ID.. 02539B53-52144729-B77A-942882E964EB
The Mercian Regiment 8enevolent Charity
Notes to the financial statements
For the year ended 31 March 2024
Accounting policies (continued)
2.8 Cash ot bank and in hand
Cosh ai bank and in hond includes cash and short-term highly liquid investments with a short maturity of
three months or less f rom the dote of acquisition or opening of the deposit or similar account.
2.9 Liabilitiès and provisions
Liabilities are recognised when there is an obligotion at the Balance sheet dote as a resuli of a post event, it
is probable thot o tronsfer of economic benefit will be required in settlement. and the omount of the
settlement can be estimated reliably. Liobilities ore recognised ot the omount that the Charity onticipates it
will poy to settle the debt or the amount it hos received os odvonced paymenis for the goods or services it
must provide.
2.10 Financial instruments
The Charity only has finoncial ossets and finoncial liobilities of a kind thot quolify as bosic financiol
instruments. Basic f inonciol instruments are Initially recognised at tronsoction value ond subsequently
measured at their settlement volue with the exception of bank loons which ore subsequently meosvred at
amortised cost using the effective interest method.
2.11 Fund accounting
General funds ore unrestricted funds which are availoble for use at the discretion of the Trustees in
furtheronce of the general objectives of the Chority and which hove not been designated for other
purposes.
All income and expenditure in the yeor to 31 March 2024 wos attributable to unrestricted funds and
therefore full comparative notes hove not been presented in the following notes to the finonciol slolements.
Income from donations and legocies
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
13.857
13.857
13.658
Day's Pay Scheme
57,345
57.345
57,508
71,202
71.202
70.966
Page 13

Docusign Envelope 10.. 02539B53-52144729-B77A-942B82E964E8
The Mercion Regiment Benevolent Chority
Notes to the financial statements
For the year ended 51 March 2024
Income from charitable activities
Unrestricted
funds
2024
Total
funds
2024
Totol
funds
2023
Donalions 1 Mercion
4.014
4.014
5,000
Donations - 4 Mercion
1.583
1.583
37
Grants returned
4.141
3.799
9.738
9.738
8,836
Investment income
Unrestricted
funds
2024
Total
funds
2024
Totol
funds
2023
Dividend and f ixed interest receipts
53.112
53.112
42,643
Bank ￿nterest
1.906
1,906
465
55.018
55.018
45.108
Costs of raising funds
Unrestricted
funds
2024
Total
f¢Jnds
2024
Total
funds
2023
Investment monagement fees
11,073
11.073
10.907
Poge 14

Docvsign Envelope 10.. 02539B53-52144729-877A-942882E964EB
The Mercian Regiment Benevolent Chority
Notes to the finonciol statements
For the year ended 31 March 2024
Analysis of expenditure on chorltable activities
Activities
undertaken
directly
2024
Gront
fundlng of
activities
2024
Support
costs
Total
funds
2024
Total
funds
2023
2024
Benevolence ond relief
12462
63,569
3,489
79.520
85,008
Total 2023
12.832
69,222
2,954
85.008
Analysis of direct costs
Total
funds
2024
Total
funds
2023
Army Benevolent Fund
Comradeship ond Remembrance
10.000
10.000
1.571
2.016
Other expenses
841
816
Nar)agement
50
12.462
12,832
Anolysis of svpport costs
Total
funds
2024
Totol
funds
2023
Manogement costs
369
137
Accountancy costs
2.970
2.700
Postoge and printing
Other administrative costs
24
45
126
72
3,489
2.954
Page 15

Qocusign Envelope ID.. 02539B53-52144729-B77A-942682E964EB
The Mercian Regiment 8enevolent Charity
Notes to the finonciol statements
For the yeor ended 31 March 2024
Analysis of grants
Gronts to
Individuals
2024
Total
funds
2024
Total
funds
2023
Benevolence gronts
63,569
63.569
69.222
Independent examiner's remuneration
2024
2023
Fees payoble to the Charity's Independent exominer for the Independent
examination of the Charity's annual accounts
2.970
2,700
10.
Trustees, remunerotion and expenses
During the yeor. no Trustees received ony remuneralion or other benefits (2023 - £NIL).
During the yeor ended 31 Morch 2024. no Trustee expenses hove been incurred (2023 - £NIL).
Page 16

Oocusign Envelope ID.. L12539B53_52144729.877A_942882E964EB
The Mercian Regiment Benevolent Charity
Notes to the financial statements
For the year ended 51 March 2024
11.
Fixed asset investments
Listed
investments
Cost or valuation
At 1 April 2023
Additions
1.718.325
808.275
Disposols
(ni.385)
Revaluotions
76.613
Cosh trading movements
(46,681)
At 31 Morch 2024
1.845.147
Net book value
At 31 March 2024
1.845.147
At 31 March 2023
1.718.325
Investments ot market value comprise:
2024
2023
Listed investments
1.783.866
1.628,973
Cash and cosh equivalents
61.281
89.352
1.845.147
1.718.525
Had the investments been included at historicol cost. they would hove been held at £1.557,015 at 31 March 2024.
12.
Debtors
2024
2023
Other debtors
5.081
4.584
Poge 17

Docusign Envelope ID.. 02539B53-52144729-B77A-942882E964EB
The Mercian Regiment Benevolent Chority
Notes to the finoncial statements
For the year ended 31 March 2024
13.
Creditors: Amounts falling due within one year
2024
2023
Accruals ond deferred income
2.971
2.734
14.
Statement of funds
Statement of funds - current year
Balonce ot 1
April 2023
Goins/ Bolance at 31
(Losses) March 2024
Income
Expenditure
Unrestricted funds
General Funds
1.814.675
135,958
(90.593)
84.783
1.944.825
Statement of funds - prior year
Bolance ot
Bolonce ot
Gains/
(Losses)
31 March
2023
1 April 2022
Income
Expenditure
Unrestricted funds
Generol Funds
1.906.972
122,910
(95.915)
(119.292)
1,814,675
Poge 18

Docusign Envelope ID.. 02539B53-5214472￿B77A-942BB2E954E8
The Mercian Fleglment Benevolent Charity
Notes to the financial statements
For the yeor ended 31 March 2024
15.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Fixed osset investments
1.845.147
1.845.147
Current assets
102,647
102.647
Creditors due within one yeor
(2.971)
(2.971)
Total
1,944,823
1.944,823
Analysis of net ossets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Fixed osset investments
1.718,325
1.718,325
Current ossets
99.084
99.084
Creditors due within one year
(2,734)
(2.734)
Total
1,814,675
1,814,675
16.
Related party transactions
The Mercian Regimental Chority (registered chority number 1177059) is o related porty by virtue of being
governed by the same board of trustees. At the bolance sheet dote, on omount of £NIL (2023 £35) was owed
to The Mercian Regimentol Charity.
Page 19