Company R•gistratloD Number. 071420121England & Wale8) Registw￿ Charity Number in England & Wales: 1134205 Reglstèréd Charity Numbgr in Scotland: SC048185 ROYAL MARINES ASSOCIATION - THE ROYAL MARINES CHARITY (A Company Limited by Guarantee) REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ROYAL MARINES ASSOCIATION - THE ROYAL MARINES CHARITY CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIIBER 2021 Pag• Report of the Trustees Report ot the Indopendent Auditor 23 Consolidated 5tatoment of FIn￿c￿l Actflities 27 Balance Sheet- Group and Chanty 28 Cons￿1d8ted Statement of Cash Fkyws 29 Notes to ts Financial Statements 30 ROYAL MARINES ASSOCIATION - THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES The Trustees. who a￿ also Direclcrfs of the Charity lor ts wrposes of the Companies Act 20￿. present their ￿port wth the financial statements of the charity for the period ended 31 December 2021. The Trustees have ad¢W the provIs￿n$ of the Stalement of Recommended Pracb'ce applicable to charttses preparing Iheir a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Re￿tA￿ of Ireland is$￿1 in Juty 2014. LEGAL AND ADMINISTRATIVE INFORIAATION Royal Patron Her M*esty The Queen Honorary Patron Get￿al Sir GK M8sswyr KCB DSO. OBE Honornry Vlco Patron Mr R OStJ Lwtenant General RA Magcwan CB CBE Mrs LR Fcfdham (Chair) Brigadier AR Tumer A[￿ Chair) (Resigned 10.02.2022) Mr ST Beet Mr KM Breslauer Mr P Deacon Brigadier (Retir￿) PR Denning OBE Mrs S Reed Mrs K Richardson OBE Mr AME Robinson Mr RJ Weaver W01 ICRSM) NAOllive RM Brigadier MA Jackson DSO {AppoinbJ 10.12.2021) (Appointed 10.02.2022) Mr JM Zuppinger BEM W01 (CRSMI R Angove RM (Reswjned 21.12.2021) (Resujned 10.12.2021) ROYAL PAARINES ASSOCIATION - THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES IAember The Royal Navy and Royal Marines Charity Comp•ny Secr•tary Bryadier (Retir￿) RAW Sperw CBE Mr J Ball C(xnpany R•gIStrath￿ Numb 07142012 IErwJland and Wdesl Reglstered Charlty Number 1134205 (England and Wales) SC048185 Iscouand) Reglstered Offi Buildtng 72 Commando Training Centre Royal Marines Lympstone Exmouth Devon EX8 SAR Audltor Moore Kingston Smtth LLP. Charte￿d Aco)untants Devonshire House. 60 Goswell Road, London EC1M 7AD Inveslment Managors The Sarasin and Partners LLP Juxon House 1(Kl Sl Paul's Churchy¥d London EC4M 8BU Banker RBS Holis fvlililary Banking 31-37 Victoria Rd Famborough GU14 7NR Legal Advlsor Wlsons LLP AiexarKlra House St John's St Salisbury SP12SB ROYAL MARINES ASSOCIATION - THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES STRUCTURE GOVERNANCE AND IAANAGEMEI The Charity was incorF¥Jrated on 1 February 2010 and registered as a charity on 1 April 2010 and adopted its cuirenl name on 1 Aprl 2019 on Ihe merger of The Royal Marine5 Charty wf(h the Royal Marines Association Ltd. The workwu narne of Ihe charity 15 "RMA-The Royal Marines Charity.. It is structured as fo11cw￿.' There is one reS￿ted fund with Ihe stalus of a subsmjrary Charity.. The Royal Mannes Benevolent Fund (Reg. Charity No. 1134205-1). There are 3 restricted Day's Pay gNing funds: The Royal Marines Officers Trust FurKI. 121 The Royal Marines Central Swgeants, Mess Fund. 131 The Royal Marines Central Unit Institute Fund. There are as at time of $wJning six olher restrtted fvnds.. (11 The Royal Marines Cadet Fund. (2) The Royal Marines Sports AssLKiati)n. {3) The Arn)ed Fcrtes Covenant Fund Trust'Posthe Pathways. Fund (Norway). {4) The Amed FcKces Covenant FUNI Trust'Force Change. Fund. {5) The Amied Forces Covenant Fund Trust'one is Too Many Fund. (6) The Armed Forces Covenant Fund Trusl'sustainry SuF¥MNt' Fund There are tsvo deS￿nated fiJnd5: The Royal M￿lneS Museum Fund. (21 The Royal Marines Association Fund There are t4VO wholty ￿ned traling ¢<￿￿PanIes. TRMC EnterFxw Ltd (Company No. 100206821 established lo enab￿ building projects and Royal Marines Shop Ltd (Company No. 08015901) established as a merthandise oullet (acquired on l April 2019 on mergw with the Royal Marines Association). Govomanc• The Charity is a subsidiary of Ihe Ro al N and R al Marines Chari {RNRMC) which is incorporated in the United lfjngdom {Company No.6047294) (Reg Charity No. 1117794) and Scotland (SC0418981. The RNRK is the Sole Member of RMA-The Royal Marines Charity its Board has the nght lo nominale one of its Trustees to the Board. currenty Mr Mark Robinson. The charity is govemed by its Art￿￿S of Associat￿n last amended on 27 January 2022 (see below) and is subject to ihe requirements the protection of b)th chanty and company law. Until January 2022 the Board of T￿￿teeS cOmw￿l Iwo serving Royal Mwines in an eX￿ffiCI0 Status: the Deputy Commandant General Royal Marines arKI the Corps Re9imental Sergeant Major {CRSM). ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES A new Royal Navy operating model with a nominee of the Commandant General being apwinled as a trustee, led to the amendment of the Articles of Ass(Kiats"on in January 2022 to discontinue Ihe practice oflhe Deputy Commandant General being an ex-officiotrustee: the CRSM remains an ex-officio trustee. One Irustse is nominated by the Sole Member. the ft¢￿81 Navy and Royal Marines Charity.. two trustees are appointed by the membership.. other elected Trustees are recruited ts their cc*npelencies. The nominated C+>opW trustees seNe fora le￿ ofthree years and may be elected to serve further consecutive terms. Tho Articles of Associalim of the Charity express th& intent a m4ority of the Trustees shall comprise persons who are serving orfonner seMrKJ memters ofthe Royal Mames. in orderto reassure the benefio'ary wmmunity ofa ￿eSSary level of empathy understsnding. This imposes a limitation on the Board's abdty to reflect the wder dwwsiiy of UK and the current make up of the Board ¢onsists oftwo serving and four retired Royal Marines, with five non41oyal Marines (three women and two men) Co-opted lo bring an independent viewpoinL The CommandantGeneral Royal Marrns is ex4)ff￿) Honorary PresKlent. currently L*ulenant General RA Magowan CB CBE. Four Board meetings were held duriThJ 2021. In line wrth the RNRMC Group structure. the Chafity has rewesentation on Group sub<￿nMitteeS and one Group tradiNJ subsidiary CoMp￿y. which a￿. The Investment Committee {IC), meeting iwme yearty Ylith the fund managers Itrustae member Mr K Breslauerl. The Finance. Risk and Audit Committee (FRACI, meeting twKe yearfy (trustee member Mr R Weaver). RNRMC Enterprises Ltd, meeting four Iwnes a year (dreGtor Mr J Ball). These three committees have delegated aulhorrty to 5fflrtinise their respective areas and to make recommendations to the Board. particulafty conceming the annual budgeL RNRMCE Ltd has delegated decision making authority ¢on¢eming Band SeThice fundraising events. Six other sub-committees exist lo ensure aFvroprth oversKJhl over Charity functions and reF*Jt to the Board.. FundraisirwJ', Health & Wellbeing., Membership; Amenities; Employment & Education and People (HR, remunerati￿. nomnations and grievanceldiscipline). There are separate Boards for the subsid1￿ companies TRMC Enterprises Ltd and Royal Klafines Shop Ltd. Trustees are sele¢ted through interview by the PeoFde Committee (acting as a nominations ¢ommitteel, which then makes recommendations to the Board. The induction process for any newty appointed trustee is to make all necessary decla￿tr.0nS and uThJertake neceswy checks. to meet with the Chief Exe¢ulNe and other charty staff as appropriate to explain the Charity's strategy, polictes and outputs, followed by meets.ngs with the ChairarKI extemal *)duction training ifthey ￿e new to charity tmsteeship. New trustees re¢eive a copy of the A￿1¢$ of Asscciation. al Board-level pOI￿leS previous annual accounts: they are bfiefed and trained so as to ensure they are ccfflversanl with the Charity's aims and objectives, along with the responsibl1rt￿ of a I￿￿te￿ and board as identified by the Charity Commission. The Charity does not remunerate ary of its Truslees be ttw civihan or military, txrt TrfUTh￿S travel and incidental expenses if claimed. M•nagwn•nt and Admlnlstratlon A5 at year end. the charity empbyed 31 lull ￿ pat-time siaff (an increase of 1 in year, wh￿h had rther risen lo 34 by 1 April 20221 prin¢ipalty based ￿al￿)nS.. the Commando Traty)ing Centre Royal Mannes. Exmcwth.. and HMS Ex¢ellenL lthale Island. Portsmouth., and in smaller numbers at Royal Marines Barracks Stonehouse. Ptymcyjth: at the off￿e of Patron Capital Partners LLP. Piccadilty. ROYAL MARINES ASSOCIATION - THE ROYAL PAARINES CHARrrY REPORT OF THE TRUSTEES LoThYon; arml at Royal Marines Condor. Arbroath. 19 of the staff wov¥Je charilable delivery. The day- Il￿daY contiol and administration of the Charity is delegated to the Chief Executive. The charity has a pay ratio of 4..1 tetween the Chief Executive's saw and the h)west paid full time charity employee. The sector average for a medium SEed charity ts 5..1. The Trustees are responsible for seiting the remuneration of Ihe charity's staff, which is intended to reward the skills, experience and competences required for particular roles. In settiNJ remuneration, the Trustees also consider several ajditional factors irtluding an individual's gec#Jraphical locab'on, contribution, affordabilty and the rernunerat￿n offered by charities of a simlar size. BACKGROUND Our B•n￿1ClarIe8 A Corps of around 6,500. though fomiirrfJ onty 4% of UK defence for￿. Royal Marines wovide 47OA of UK Special Forces personnel. As elite p￿s(￿n￿, they are diswowbonatety exposed to daNJer, which in ium has had disproportw)nate conwuerw over the past 20 years. From the Afghanistan and Iraq campa￿nS are 155 disabled Royal Marines, including 30 amputees and Iwo tetraplegics who requi￿ th￿gh-tsfe Care. 256 Royal Marines suffered life ¢hangiNJ thijuries and had their service cut shcrt as a result. 180 of Wh￿ have exhibited $ign$ of post-traumatic stress, in addits'on to hundreds who have devew complex post-traumatic stress disorder though not physically injured During the first wave ol Ihe COVID-19 paThY&m￿ wi 2020, several Royal Marines units were redirected from ts*ir defen¢e tssks to support the NHS, Emetgency Services. local authorilEs and Govemment at home and abroad In 2021, personnel from 40 and 42 Commandos. Commando Logists¢ Regiment. Commando Amioured Support Gr￿p and three RM bands were deployed to asststthe NHS vaccinats'on programme. Aprl 2022, followin9 from the Defe￿e Integrated ftev￿ and as part of the Royal Navy's tranSfOrmat￿n programrne. Royal Mames V•ryll be pemanentty foThMrd-based overseas in hyo Reswnse Groups facing the UK'S most signifKant overseas threats in the Ball￿1HI9h North, and the GulflFar East. This new role perFetuates the Royal Marines. high exposure to danger. increases the depbyed footprint ofthe Corps to a higher level than during the Afghanistan campaign. and will increase the pressures that anse from serV￿e life on personnel and dependants. The Corps Family is a communty ofapFKoximatety 120-150.000. a community ofaround 30,000 serving and fonner Royal Marines, the remainder dependants. Al are benekories of the Charity. Our case for support We are the Royal Marines. own Charity set up in 1946. and so are unNudy pL%ed trj understand. respond and react. enabling Marines arKI their families to overcome iheir challenges. Our Vlsion OfferirKJ lrfelong support lo the Royal Kqarines Family- Once a Royal Marine. always a Royal Marine. ROYAL MARINES ASSOCIATION - THE ROYAL MARINes CHARITY REPORT OF THE TRUSTEES Our Ethos INe emtJraGe the CcAnmanth) Vatues - Excellence, Integrity. Self-Disciph"ne and Humility, and the Commando Spiril - c￿rage. Delerniin*ion, Unselfishr)ess and CheeTfvlr*ss, in order to enatrje the CommarKto Mindset- first to und6tstand, firsl to adapt and respond. first to overcome. Our obl•¢tlv88 and actlvltle The Arbcles of AssLxiation of RMA- The Royal Marines Charity sp• ￿ folb)wing obie¢ts." a. To maintain aThJ ncrease the effic*ncy of the Royal Marines. and to Frfomole and preserve the esprit de corps. heritage. eth)s and tradtlions of the Corps.. b. To assist or benefft persms servirKJ in or who have semd in the Royal Marines or of such dependants. spouses. CNII partners, wths. widcmers. chldren {iieluding adopted children) or IMMed￿te close I￿ty of $u¢h wsor¢s as may for the time being be in need of charitable assistance or benefit.. c. To commemorate and rememberthose membets of the Royal Marir￿ who have105t their lives or suffered injury, or put themselves at risk of loss of lrfe tr injury, in service of the Crown and to en¢our8ge publK recognitK)n of ther seNKe and sauifKe", d. To supwtthe Royal Marines, the Royal Marines Cadet SeclM)n ofthe Sea Cadet Corps, the Royal Marines Section of the Combined Cadet Force, the Royal marir￿ Volunteer C•Jet Corps by any other charitable means as the T￿￿te¢S shall from time to twne permit. Our Mlssk Our SUFQOrt combines the folk￿1ng rolos.. Prev8nt- ensure that membws of our ¢ommunrty do not descend into acute need; ReSP￿d- provide holists'¢ support to those who have serious mental, physical or other challenges wh￿h threaten their independence and dignty., Assure- provKle Ffofeswnal and safe suppor¢ Infomi - ensure that our community knows how to womote good health and weffare, and where and how to seek help., Collabor*e- ensure that members of our community are assi%ted by the most appropriate source. Our work 1$ #i area$ whKh span whole service F*ovision from cadets to bereaved dependants.. Benevol•n¢o and Transltlon: we PTovwle wtslligen[ costotstive and sustainable solutions mbining professional gU￿ance and servw ￿th effectNe 9rant-makn'ro. in Cowoperation with partner aganeies, Charities and business. This ts funded by money we raise Ourse￿e$. we receive no Government funding in r)ormal crcumslarK8s, though this year we recewed $UPFQrt from the CJRS Futhgh grant ￿herne due to the impacl ofthe COVID-19 parKlemK. Amenltles: we ddNer appropfiate aThJ Sustainab￿ fnancial support to the serviTr3 Corps through infrastru¢iure enhancements, adventure training. unit and famity welfa￿. sport and regimental life in order lo streThJthen morale, improve effectivertress and encourage retention. Apart from support to families, this is funded by the voluntary donations ofRoyal Marinesthemselves crffrom historic reserves, rather than donations raised frorn the general publK. Member8hlp: our membetship118,893 as at 31 December 2021, up 2.661 snce 1 January 20211 1$ a foous for our preventative work. which we undertake to promte mental and PhyS￿al wellbeing and to stsve off charitable need and spend further down the li￿., this includes workiThJ Ihrough our 92 ROYAL MARINES ASSOCIATION- THE ROYAL IAARINES CHARITY REPORT OF THE TRUSTEES geographical and specialist branches lo wrM)￿te comradeship and mutual support. This is $eff- supporting from member fundraisry. (lonations and hisloric Associalts)n reseNes. 2021 saw the numbers requests'ng supwt risiry. following trends from prevMw5 years bul exacerbated by the COVID-19 pandemic. PUBLIC BENEFIT We pr¢)v*Je quanliffjNe and tanglI￿e beneffts to Oefence and by extenshx to the wblic, underpinnirKJ its support of the Mililary Covenant t¢tween the N8tKM ar￿ its Armed F￿Ces.. Our w(￿k is retentKJn F#)Srtive. It supports RM units. pet50nnel and familie5. providing a better quality of life and facilib'eslopportunities wh￿h the taxpayer cannot fjJnd, thereby cornmuni¢ating to them that ther contributw)n is re¢ognised and Val￿d. Our fvnding addre55OS sk)ecifi¢ neods identified by the Royal Navy which are deemed e55ential but ft)r which no public funding is available, such as in-barrxks K￿la1 f￿lIrtieS. pastoral support work, family centres and childcare which are kn¢xm to have an impact on retenth)n. Our work contributes to miliw efficiency through our direct funding of the Corps Human Performance Otwating Capability. and through fvnding of sport adventure training. This improves physical and mental fitness. teamwork and cohesion. in addition to the improvement morale and enhancement of retention. Our work inproves the morale of Ihe Royal Mwines and ils communty through funding of activf(ies such as unit ￿￿tionS and families. days vthich the taxpayer cannot supporL We Contri￿le to the wellare and mentsl wdIti￿n9 of the C￿S Famity through our Supp Ne￿ork. providing a nelwork of localty based volunteers who are able to give addfaonal help to veterans.. throwjh our funding of unit-based pastoral workers employed by the Aggie Weston's charity., and by offering SF*edy &cess to recc¥Jnised localty based c￿rSeS ottherapy to veterans and serving personnel dependants. often following referrals from the NHS. Vle engage closety with the Commandant Genernl Royal Marines and tsps Regimental Sergeant Major in order to ensure that the furKlirKJ and Serv￿ yovided to the Corps are those most needed through the serving perspedive. In shaping our objectives for the year ar*J plann￿g our acliviiEs. the trustees have considered the Charity Commission's gu*Jance on public benefft. Incl￿11￿￿ the guida￿ 'Public benefitr. Nnning a charity (PB21'. The Trustees confirm ihat they have complied with the duty in section 17 of the Chariti85 Act 2011 to have due regard to public benefit guidarte published by the Charity Commiss￿. POLICIES All the tharity's boar&level poli¢Es were revie4ved in 2021. Grant maklng pollcy Grants made by the Charity are made ty the Trustees at their discretion must be in accordance with the charitable purposes and objects of the Charity. They must t* m￿e onty vthere pubk fundir¥J is unavailable. Each request or siiuation is I￿Sidered on its cwm meriis. ￿ere situations have been previousty considered (whether successful or not) any due dilb3ence undertaken to reach an 10 ROYAL MARINES ASSOCIATION - THE ROYAL AIARINES CHARITY REPORT OF THE TRUSTEES earlier decision is made availab* to the Trustees. suff￿lent due diligence is carried out to ensu￿ that the fequest or srtuation meets both the chartsble Wfposes, and the prioritw support set out in this poly. During board meetings. trustees ¢onsthr bids f￿ lunding exceeding £20,000 dec*Je whiGh fit tr* ¢harity's criteria. The CE and Deputy CE hohj dekgated autrwity to make grants of up to £20,000 and £10,000 fespectivety within kwe-set lyjdgets agreed by Trusiees,. the Director of Health and Woilbeing and Head of Grants RNRMC hold delegated authority to make grants of up to £5,000 from within approved pre-set budgets, with auihority to seek to almonise (share) grants with funds from other agreed sources." the Employment and Health & Wellbeing slaff {administeriig RM Benevolent Fund grants) e¥h have delegations of either £3,500 or £2,500. Any exlraNdinary or urgent Lxds ex¢eedirwJ £20.(KJ) falling outside Ihese parameters may be considered by a quorum ofat three Trustees as aThJ when they are receiv￿. out of commitiee. Trustees have indicaied that need presenimg from the wounded. injured and $i¢k should be met first from the Benevolent FurKJ, with the General Purpose Fund to teing used primarily for welfare purposes which dire￿ benefft serving indivx1uals and their dependants or serving communities. It is intended thal the Days Pay GiviTrJ Fun¢Js serve primarily as the source for anenty grants for wh￿h funds raised from the General PublK would not be appropriale. but Ihe trustees have agreed that they may te used for wetkn purFX)ses {which is ￿￿rtted by their goveming dctuments) ￿ a cas&byp¢ase basis. Fundrnlslng pollcy The Trustees revrewed arKI revised our fuThJraising poly durwig 2021 refiecting the advice of the Fundraising Regulalw and need to assure our supporters and the wider public ihat we fundraise ethically and within the guidelines of the Charity CommissM)n and Ihe Fundraising Regulatorfs key principles and behaviours for a fuThl￿151n9 oTrJanisation to be legal, h¢)nest, open and respectful. Our approach to fundraising rests on posthve supporter engagement in order to enabl8 us to attra¢l, steward and maintain support. but also to protect our reputation. A key element is the segmentation of supporters through our Customer RdatiC￿Shlp Management database. so that Supp￿*r$ r￿e1Ve communications at appropriate frequencies. The charity only fundratses and promotes support to the charity from individuals and companies folkywiro eX￿￿1t writien I'(pt in,) consent. Trustees and staff are aware of the need to protect the pubhc. and especialty vulnerable people, hence no cold Call. telephone or streat fundraising is carried OUL and no l)onuses or inducements are made to staff or volunteers. No wofessional fundraws or commercial paitipators carried out any fundraisng aclbvities on behalfof the ¢h8rity. The charity is registered wilh the FurKlraising Regulator {FRI arKI contributes to the FR levy on fundraising charibes ¥¢ording to its income, adheftrKJ to the FR Code of PractKe and to Charity Commission guhjelines, particularly CC20 (Charty fundraisiThJ'. a guide to trustee duties). Truslees are awa￿ of the Commissh)n's six Iwdraising princiths and ensure adherer￿ ty Charity stsff Ihrough the overs*3ht of a Fundraising sutFcommthe of the t￿ard." effective pl*ning'. supervis*)n of fundraisers,. prote¢lion of Charity reputation. mney and other assets: ensuring compliance ￿th laws and regulations,. f￿lOwIng recognised stand￿d$. openness and accountabilty. Fundraising practices are monitored through a formal quartety sub¢ommtitee meeting and quartedy t#)ard ￿pOrtIng. and overswJht of volunteers by the Fundraising Manager, whose induction training includes the prolection of vulnerable people. Failures to comply wtll be reported to the FR if tlw oc¢ur, a$ will complaints, for which there is a F￿0ceSS to follow rf received; there have been none of either in the last rmancial year or since the FR was introduced. Policies arml Proces￿ are in p*e to ensure the Char(ry's complrance 11 ROYAL MARINES ASSOCIATION - THE ROYAL MARINES CHARI REPORT OF THE TRUSTEES th the General Dats Protectvjn ReguL￿t￿n {GDPR). particulaty wilh regard to the use of personal data for fundraising purF4xes. ACHIEVEMENTS AND PERFORMANCE 2021 Responso to COVID-19 The ¢risi$ resulted in the Charity staff ceas*¥J of[￿e-based oper*ions and moving to remote V￿rkIng from home., this was achieved seamlessty due to a major ET rn￿rat￿n prcgramme undertaken in late 2019. Stsff continued lo deliver most aspects of support remotety. reiuming to office in mid-2021. Our first priority was lo provide support to the most Vulnerab￿ memters of our communty, those suffering from the downturn in the economy and the social wmpact of Coronavirus and particularly those who suffered more due to the social distanc1￿ measures imposed. Whilst not front line, we are confident that we have alleviated significant p￿sSUre on the NHS and g¢)vemmenL as we continued to d￿S the followiNJ cnjcial areas where COVltk19 iMp￿ted our community s￿nifican￿.. Mental ill-hoalth *ross our ¢cffimunty: Family stresses across our community.. Medical discharges ol serving Royal Mwines" Unemphjyment arnc￿g veterans and dependants. We are confKlent that we have t*come increasingty effectrle in supporting the Corps Family despite the challenges of the Pandem￿ which ran throughout 2020 2021: 2018 256 NA 2019 319 43 2020 2021 298 L. 479 89 131 198 % Incr 61 48 41 Employment Assistance- dischw Rms Addict￿￿n support Transitson Support to Vulnerabte Lewlers Afflied Forces Compensation Trknunal Case Support Veteran Mental Health Referral Cases Total B•n•vol•nc• Cas8s supported 93 203 97 117 79 92 1662 113 1896 :, 102 2794 -10 47 Even before COVID.19, the Charity a swJnifKant ¢halknge in fvndraisirrfJ: LIBOR bank fine fvnds are exhausted and wrfl not be replaced; There is no direct govemment funding, though g￿ts from the Arnied Forces Covenant Fund Trust la separate charity) do originate from the government Brexrt anxieties and geopoliti¢al issues Und￿lning bu$irEss Conhje￿e', No publK campaigning by the Royal Man'ne5 meaning that the militsry have been out of mind. The pandemic removed a swJnificant proportion ol our fundraising capability in 2020 had a significant impact on the first half of 2021. recovering in the latter part of the year such that an expected £400K deficrt was turned into a £275K+ surplus. This was due partly to lower demand for grants and administration costs. bul also to increased regukqr grrfing. grants received and a successful London Guildhall Dinner in November. Smart worklng - ¢ollabofatlM wtth partnepJ We have worked increasir&ty closety with the NHS (OP c￿rage>, the MOD Departmentlor Community Mental Health and Third Sector partners wth whom we have agreed formal MOUS.. the Royal Navy & Royal Marines Charity. Walking Wlth The IllouNJed. SupF(rting Wounded Veterans. the ￿trite Ensign Association, the Special Boat Seryice Association. Heropreneuts. HwJh Ground, Rock to Recovery and 12 ROYAL MARINES ASSOCIATION - THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES Bootne¢ks In2 Business. collaborated regul¥ty in 2021 with Combat Stress. Help Heroes and the Regular For￿ Empk)yment A5wGo1ion. In our grant making we work in close partnership with SSAFA-The Armed Forces Charity, The Royal Brttish LegDn and Naval serv￿ charities: the Royal Navy and Royal Marines Charity, Greenwich Hosprtal. the Royal Naval Benevolenl TrusL the Naval Children's C￿ty and the Royal Navy Officers, Cwty, with our USP being our holistic assessment of needs leadD)g to ¢omptemen* monelary and non-financial supwrL We have assisted th8 wider Naval charilies to devekip a MOR holistic seNice through embedding a RNRMC Casework Manager and three Transit￿ Support Guides within our staff. while we are ￿VISIng the Royal Naval Association, the ￿hlIe Ensign As%Kiath)n and Support Our Paras {the Parachute Regiment and Airbome Forces Charity) in the de¥ek)pmenl ol the¥ services to refiect those offered to our members and beneficiaries. Rlslng n•ed Our outwts are drNen by need. We have ffKJnrtored need sys1ematr￿ty over the last S years and Can evhlence that the neéd continues to rise.. hence our V•Drk outputs continue to increase. In particular." Bucking the previous trend. in 2021 need rose faster in th& semng community (numt*rs supported doubled) than in the veteran community (a rise of 0[￿ thirdl; rt rose particularly in those requirirKJ akx)hol addictson SUFPOrt to Fvessures of isolation arising from the COVIO pandemic,. the numbers of involuntarity discharged personnel SU[V￿ted Employmentadvice rose steep￿, bul principally due to our newty gained ability to engage with al vulnerat4e leavers. including those wamed off for medical dis¢harge all recruit leavets" the￿ was a small decline in need in the veteran mental health Sphe￿ Since the classtc ge$tslb)n Feriod for PTSD is 7-10 years. meaning that we have most likely Teached the peak in wesentalw)n following the 101h annivetsary of the most bitter fightin9 m Afghanffjtsn. This rising need has led to increased spend by the Chanty. having to put in place the people, ￿SoUrceS and processes necessary to provide the effectwe fr5t call 5UPFKJrt appropriate for our Community: The appointment of a Transiti'on SupFort for Scotland and the North of England. enabling eaty interyention to stave off later inteNentions and increased spend, creating a virtuous GirGle whereby the beneficiary does not reed further intery8nlh)n; The appointment of a Recovery Supp)rt Woiker to support the Alcohol and Addiction Advistr, ensuring that the weventative educatM)n work is not pusl*d out by the need io supwt struggling indNiduals-. The reuuitment of a third Armed Forces compensat￿ Scheme advttacy ofTw to deal with a steep rise in new cases in the final quarter of Ihe year. Llfesavlftg support dellverod SI￿ establishment of the Royal Marires Charitth Trust Fund (one ot our precursor charrties) in 2008, over £24.9M has been given in grants towards recovery. qualty of life and through life care. The Charity achieved expendilure in 2021 on gr￿ts payable of £1.307,674. 13 ROYAL IAARINES ASSOCIATION - THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES Totsl grants 2021 Benevolence •sp￿ • Aft*nities 429.98L 33% 72U157. iS5.636. _ Totsl £1,307,674 The delivery of support amounted to a fvrthw £1.11 S.487 a totsl of £2,423,161 of charltable delivery expenditure. Incroasod numbors supported Total number ol beneficiaries SuPF￿rted by charitable inter¥entions through year.. 22.342 {2020.. 20,744. 2019.. 16.0921. Total number of beneficiaries in need supported through financial and non￿nancial benevolence.. 2,794 indivmluals (excluding their dependants) (2020. 1.896. 2019. 1,662.. 2018:1,4041. Royal Marfnes Benevolenl Fund Spend Welfare Grants to Indfvlduals 2016-21 7(*).000 ,974 639.881 586.508 567.287 so0,￿0 427.7S7 4(X),tX)O 2017 2018 2019 2021 14 ROYAL MARINES ASSOCIATION- THE ROYAL AIARINES CHARrrY REPORT OF THE TRUSTEES RMBF breakdown ot grants to individuals 2021 Remov31s. 6,208, 1% Care Home. O. 0% uin5 Build Costs, 631.0% Medical T[eat￿n( 8.846. 2% I Courses. O, t?% Rehab, 47,925, IIF/o Disabl￿Y Aid, 82,777 Psy[￿k)g1(al Treatment. 57,810. 14% Debi Relief. 19.215. Sub5i5tence. 62.370 15% rlousehold/ Vehicle/ Goods. 77.923, 19% Tra¥eVRe5Pite | BreaK 25,310, 6% FuneTrl Costs.. 29.445. 7% MedKalTreatment Removals rAsaixtty A Debt Relief Househddl Veh￿1￿/ Gr￿5 • fur*ral Costs •TraveVRespiie Break b5iStence PsycWicalTreaiment . Rehab Care Home 8urns Build Cosrs Cour5e5 rele￿nce tO.￿S ixmkf reWe$￿ts tr* p•iN*il f￿3 tsthe of ￿ extension for ￿ injLYed bw)gfioary'$ h)me. Total amount of amenth.es and Sport￿adVentUre trainir¥J granis.. £585.617 {as against £341,050 in 2020. £1,192.766 in 2019 and £1.011.557 in 2018, refiects'ThJ the return of Corps life and activrties following the COVID 19 pandem￿). Number of serving Royal knnes teneffttllyj from amenths and grants: 19,548 {2020'. 18.893.. 2019: 14.430}. 15 ROYAL MARINES ASSOCIATION - THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES Support outputs and impact: A tecord number of involUn￿ty discharged Royal Marines and vulnerable re¢ruit leavers - 479 (2020.. 298. 2019: 319. 2018.. 256)- were provided vthh empbyment advtce" 51 received funding grants totalling £73.000.' 34 were assisted into employment worth over £1.4M in added local emptyment value (the Govefnmenvs aprKoved F￿XY value for ￿le person being in employment for 12 months being £30.353)'. see the ded￿ated SeCt￿n on social value beh)w. 198 War Pension and Armed Forces Compensation Scheme tribunal ￿5&S were supported, of which 172 were new in year {2020: 203, 2019.. 117, 2018: 97) 89 indwidual addiction cases were supported (2020: 60. 2019.. 43). 35 servwu wilh a replacement Cost of £4.375M rf they had been discharged {SIn￿ it costs a minimum of £125.000 lo train a new re¢ruit}. and 54 veterans 131 r*w vulnerabte leavers were supported by ourTransition Support of[￿er$(202O.' 93, 2019.. 96, 2018: 621. A sI￿hlty reduced nUM￿r ofveterans, Referral Plan mentsl heallh therapy Cases were Supported, 10212020'.113. 2019.. 92. 2018-. 79. 2017.. 26). Funding of £92.780 was provided for the Coaching of 110 battlirrfJ menlal ilkhealth by R￿k to Recovery {2020.' 194, 2019. 193, 2018. 142). 19 other pthr organisatsons were suptNNted ty fundiry of £395K, beneffitting 147 irmlividuals (double Iho finanaal support and double the numbers benefith.ry over 2020) alongside pastoral work at 4 units $UPF(Yted by fuTrJirvJ of £45.0(K) to the Dame Agnes Vleston Charity. Th• Gordon M•$8onggr Contro- enabllng reslli?nce In the Corps Famlly In 2020 the Charty completed a seveTr-ye￿ project to delNer a state of the art welfare and community facility at the heart of the co￿s. the Gordon Pkssenger Centre for Resilience, which opened formally in September 2021 for welfare suppo¢ training, rehabilitation activities, briefings, employment workshops, community events for seNing and veteran Royal Marines, family activities, a children'5 c￿che, charity meetings. cadet actTrirties and supp)rt to sporb.ng events on the adjacent sports fields. 16 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES Named after the Patron of the Charity. General Sir Gordon Messenger, the Qentre has a large hall, cafeteria and kitchen area, meeb'ng room. office. indoor and outdoor play areas. This £2.8M projecL which could rK)I be fvnded by the MOD. was funded through grants arld donations of£1.9M. and £900K from Charty general funds. Further grants of just over£9K were made in 2021 to enhance the equipping of the Centre. A local steering group on whKh the Clwity is reyesented will oversee use in accordance wth the chantable objects of the Charity and wll tsplure feedback to the Corps and trustees annualty. Crnated SoGlal Valu•.. Since 2018 the Charity has been capturing metrr¢s using govemmertl approved Themes, Outcomes and Measures (TOMS) including calculations of •Jded so¢ial value, wrth the assi5tan¢e of the Social Value Portal. Govemment TOMS a￿ concemed with jobs and skilLs. and societal and c(Mnmunity development, to work out appropriats. Ttr*re a￿ 75 metrKs captured monthly. Areas where extra value was added We￿ as folltrws: Family members supported through As%)ciatvJn events; Veterans attending parades., Discharged RM assisted into full time em&loyment: Hours dedKated to Suppo￿.r￿j Rms lito work by providing careor Ment￿1￿j, including mock inte￿Iews, CV ad¥ti, arKi Careers guIda￿e. Unpahl work experience provided by employer partnerships: Time dedicated to supporbng divor¢iTrJ families; Increase in lump sum and pensi(￿ won the tribunal pension ao%Tte seryice. The &Kial Value created by the Charity as measured through the &oG&LY in 2021 was £3.167,756. This sum does not tell the whole story of *thai the Charity delivers, as rf( onty captures value to wider society and not that d￿1Ve￿d specif￿llY to the mHitary Community. This incremental support to the serving Corps Famity not captured in SVP was £155.636. while the value wjded to the Corps through evidenced retention resulling from the Charity's interventions was worth a further £4.375.000. Therefore. the total sc¢ial value created in 2021 was worth £7,698.392, mwwbg that every £1 donated to the Charity was tumed inlo £3.17 of ch￿lia1￿ value ¢re*d when set against charitable spend of £2,423.161. FINANCIAL REVIEW Th8 Trust￿ consider that expenditure has been within the Objects of the Charity during the reporting period. They CCJnshJer that the Charity remains heaithy WKI thus able io meet its future charitable obligations. The Charity was again ￿lbanI on KKome from donations. g￿ts, fvThJraising events and investments. In 2021. the COVID-19 crisis rem¢)ved a significant proport￿ of our fundraising capability in the first half of the year, Iwt income generation recovered in Ihe second half meaning that that the Charity surpassed the gro$$ fvndraising budget by over £320K, principalty due lo the success of the London Guildhall dinner in November. Income generati￿ was diverSif￿d ￿rO$S a number of str¥Kls: major donor and cwrate gifts, regular gwing and one-off donations. trusts and foundations. gfants, ¢ommunrty fundraisiTrJ (either Charity-organised iniliatNes or indivwJual$ urKlertaking their initiatives) and legacies,. Total gross Voluntary Ir￿lme {i.e. fundTaised} for the Group was £3.53M12020: £2.4M}' £334K was received in legacies, a £75K inuease on 2020 des￿10 ddays in Probate caused by the pandemic: The cost of raising fund5 Within the charity increased from £1.29M to £1.6M. ￿fIe¢tirWj a retum io fundraising actrdity. 17 ROYAL MARINES ASSOCIATION - THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES Total Nel income for the Charity {inclLhJirvJ grants received arKI after cost of raising fvnds) was £234K behind t￿dget al £2.7M. but £500K above total net income in 2020. showing a strong recovery after the pandemic.. Investment income was £211K versus a ￿dget of £2111( The Charity received Services in kind valued at £146,020 from our parentcharity RNRMC. This includes finance and amenty grants administrat#)n and some HR support The Charity also re￿l¥ed donated serv¢ces from Patron Cathl Partners LLP in the form of off￿e facilities valued at £561C Investment pollcy and perfomian¢e The Articles of Associalion authorise Trustees to make aNJ hold investments using the fvnds of the Charity within current nJSes and regulations. A joint review of investment manager was held by RNRMC and the Charty in earfy 2021, with a decision to appoint Sarasin aThJ Partners LLP. ￿ transfer of the invesknents fvnds p￿v￿)uS￿ held by Cazenove Capital Management and Newton was ¢omplele by the eThJ of A￿U$l 2021. The whole fvnd value of the CW rose from £13.2M to £14.7M in year, £1.2M was due to gains in investmenl fvnds ar#Y £340K due to the Tryear irwnk Sur￿. The oversight of the management of the Charity's investments lies with a nominated trustee {Mr Keith Breslauer). and alsowith the Investment Ccffimittee (IC} of RNRMC, which is responsible for monitoriNJ the perfomance ofthe investment managers in li￿ with the investrnent strategy approved by the Board alongside RNRMC. The Board is grateful for the sepltes of Mr Mark Fitzgerald. who acts as an independent adviser to the Board and on the IC. ReseThes Pollcy a. The Charity hold ￿SerVeS the folhxiing reasons: In ¢yder to ensure that the Charty ￿ able to meet UneXp￿ted and unbud9eted demands.. In orderto ensu￿ the Charity's ShOrt-kw￿ term sustsinability in a contextvthere it muslgenerate its own income lo Cover costs.. In order to ensure continuity of ser4r* to bw*fwries in the event of an urexwted dedine in charitable income. In Order to enable the Bowd lo fvnd any ￿Uired lrnn$1￿at￿jTh of owating model. b. The Part￿ular context in which RMA-The Royal Marines Charity operates Is condth'oned by the operations of the Royal Marines, and changing and uncertain: The actuarial liabl1￿'eS of the Charity in the medium-long lenn are not known since the military operational commitments of the C￿S and their cOnsequer￿e on the Charity's beneficiaries cannot be planned for, their frequent and chaThJing operatsonal deployment pattefn leads lo disproportionate exposure to the possibility of death or injury. therefore increasing the ¢han¢es of casuamies and potential future calls on funds. Indeed. in Ihe event of a major operation. the Trustees may find that they must draw on a substantral amount of caprtal to assist the Corps famity al a time of need". hence reserves must be readity accessible. The beneficiary community, estwnaled lo be in the ￿gIOn of 120-150,000 {5erving and veterans with dependants), wll remain stable in srLe for the next 30 years since the size of the Corps itself has thanged litt￿ over thal period. while Irfe ext*¢t*Gy continues to 18n9then and the Welfa￿ needs of the elderty become more complex. The fundraising and income generating context for military charities has become more challenging following the cessation of large-scale overseas operations in 2014. meaning that the military communty and lis suppcKbng charilies are no longer in the public eye as they on¢e were. and competition from cthr charitable causes has become stronger. 18 ROYAL PIARINES ASSOCIATION - THE ROYAL MARINES CHARITY IREPORT OF THE TRUSTEES c. The reseNes of the Charity must be fiexibb to meet these changing demarKl$ and calls on the Charity'5 funds. which a￿ hekl and applied for many dttferent aclr¥ities in line with its wide range of charitable objectives and strategic plans. arguabty the widesl of ￿Y military Gharity. d. ￿lISt the total value of Ihe resep40s held in inveslments as al 31 Decemb&r 2021 was £12.18M. £2.97M is held in restricted furKls which from the Royal Marines Day's Pay Giving schemes. money wh￿h may (￿ty te appl￿ in specific circumstances to SUPkKtrrt regimental lrfe. welfare, sport and adventure training. These funds are principalty held in investments to ensure that there is a balance of income to meet tt)e needs of current t￿e￿claries, bul al80 growing Capital to ensure that the needs of fvture beneficiaries are met. in order thatthey remain a sustainable resource for the Corps for fvture generations: £1.91M is hebj in the restricted Royal Man'￿$ Benevolent Fund. which may only be wlied io benevolen￿ grants 8nd support. proie¢ted to cost £1.7M in 2021.. £0.14M is a150a restricted fund to be aFpIth in 9o1ts SUPFuliig the xbvities of Roy81 Marines cadets. £1 M held in a designated fund with the intention of part-funding a NatM)nal Museum of the Royal Navy prOj￿t to ryovide a new Royal Marines Museum. vthich will begin to be delivered in late 2022 £0.5M is held in a de5ignaled tund to SUFVYt the memtwship acbvitses of the Royal Marines Association- £5.66M ts teft as unrestricted funds, however ol thK% £3.21M 15 held as a minimum reseThe against the potential financial impactof Mjenlffied. tsbled * mithjaled risks which coukl impa¢t on the Chanty's atilty to delver its obJectNes. e. Therefore, the f￿e resefves of the char.ty are £2.45M, which equates to just over 6 ff￿nths of expenditure to provide for grants. seNKes and the administration ot the Charty. RISK mANAGEME￿r The Chafty Trustees have consbjered the major risks to which the Charity is exposed and review those risks the established systems ￿￿edureS to m￿age those risks through oversight of a risk register at each Trustee meetsng. This register 15 directly linked to the delivery programme in order to ensure that risks which cannot be removed are mitwJated against through the cperalh)ns of the Charity's staff. A three4tage line of defence assurance system is in place. based on the regular checks of staff. the oversight of Irustees, and the annual Interrogati￿ of the appointed audltor. Principal risks KIentif￿ as at 31 December 2021 wwe: Rlsk Financlal which includes.. Not meets.ng our Vduntary Income targets: Constraining cOrp￿e Major tk)nors" Loss ￿ reduction of fund￿9 stre￿. atlon have dsversffiod our income generab'on (wortunrties as much as possible, focusing FQrticulaty on strengthening the support of major indrvidual and C￿rate donors. trusts d ststulory grants. In the COVID-19 context Ihis mean$ Klentifying companies. donors. trusts and foundatk)ns which have proved resilient in the economi¢ d¢A￿turn. We are further developing measurement of whole social value to demonstrate iM￿t to (*Jnors, and our marketing function in order better to promote case studies We have a systematic approxh to b￿￿get setting and financial planning wth detailed ue￿in and monitori These rlsks would reduce our wlty to ddiv•r our Strategy. 19 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY REpoKf OF THE TRUSTEES the year. with monlhty cashtlow F￿lectionS and quarterfy forecasts used to mitigate any trMJdgeVincome pressures thal arise during the year. regularly review our investment strategy and lis performan¢e managed by appointed exlemal fund managers. The Board ha5 adopted a policy of holding be￿en S and 6 months of expenditure in cash reserves, inGrea5ed from 2.3 previously. We have reviewed our insurance needs and provider to ensu￿ financial losses are minimised. A Chair-5ed comprehensive govemance revwi was completed in 2021, identsfying areas of improvement for govemance, skills gap5 and trustee succession planniry. We have reviewed all Charity policies and ensured that all required Board level policies have been refreshed for 2022. We are registered with the Fundraising Regulalor to eviden￿ our compliance with the Charities Act 2016 aThl comply with regulalions: no ¢omplaints were received in 2021. We tenefit from the extensive Gyb8r protecbon provM1ed by our inlernet provider. We have developed improved methods of monitoring tre impacl of grants made to P4idual$ and organisab'ons, including ensuring safeguardirKJ protocols are in place with those V￿ fund. We are developing a PR function which will give th& Capability lo respond to ￿pUtatiOnal challenge. with direct links into Nawy Media. We expect regular reFQrts to the Board of Trustees from through year funded organisab'ons and implement MOUS where aF¢)fokYiate. IÈ have revised terms and condib'ons for tlThe outside 1x9an￿atlon$. Our branch and membership byelaws are subjeci to close oversight from the Membershi Committee. We have introduced a revised Performan and Deveh)pmenl Report to improve our perforMa￿e and focus on learning and develOpn￿t. conduct an annual Training Needs Anatysis. leading lo whole staff training as appropriate. and indiwdual education and learning needs ￿'ng addressed. We have buitt extra staffing resource to face increased demand. have introduced an Employe8 Assistance mme and ula considor staff Governance whKh wicludes: Lack of compliance with W and regulatory requirements; Breach of data andlor IT breach by exlemal agents.. Lack of imwvcartcome evidertt may lead to sub-QPtbmal blo¢k grant making. These rlsk8 wlll impact our operallonal dellvery and increase regulatory Scrutlny, both of whlch will impact our ablllty to dellver our objoctlves. Reputational which irKludes: Lxk of conth￿ of fvnded organisat￿s. activit￿. Lxk of control of membershp branches and indivKlual members. These risks would Impact our rewtallon whlch Is absolutely essentlal to keep key stakeholders, funders and beneficlarles posltlvely engaged In asslstlng us dollverlng our outcomfts. Pèople which includes: Inabilty to recwft and retain people wrth Ihe required sklls and expertise.. AFpropriate trainwig and safeguarding for ￿1 stalfr. Burnout due to increased demand for supiMNt. These rfsks would reduce our effectiveness to dellver our obJectlve6, reduclng our ImpacL 20 ROYAL IAARINES ASSOCiATION- THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES workloads. promoting posibve mental health aThJ work.life balance. The Trusiees consider by reviewing *c￿nts arKI &qshfiow at e&h Board meeting that they are atde to manage income over expenditur& 6ffectNety, whilst they are also able to seek advice from the RNRMC Group Investrnent and Finarte Risk aThJ Audit Committees and other speGiali¥t advrsors, all who have a depth of relevant experience. FUTURE PLANS Stratégy and Programme 2022-24 In 2021 the Trustees conducted a Strateg￿ revivw xross every aspect of the Charity's delivery, $ulling in tlnetabled n￿4 delivery and delNery Thprovements •3ainsl measurable outcomes to be a¢hi8ved by the end of 2024. We are foNowNig a &year budgeled delTww programme with aSS￿lated rtsk regKster based on the revised strategies, delivered by the staff but with regulw ￿￿rI￿g oversight from the SUb-cc￿Mlttees allied to the Chty's functional teams. wh¥th in turn repcxt to the Board. This programme will ensure that the charty ￿ prokne and bohj. differentiated. sustainable. owned by the Corps FanAy. recognised by the wider communty. and effectNe (efficienL cost-effe¢live and achieving maximum wnpactl. The prc*Jramme ensures the folkywing strategK otyectwtis will be secured: 1. We will enable those we serve to Ir¥e by the Comm&wJo Mindset (restoring, maintain￿g and enhancing independence. dignity arKI effe¢iNenessl through financtal and non-monelary suppo¢ 2. We will promote aTrJ sustain the Royal Mames brand and esprit de corps.. 3. We will increase and achieve a representative membership mix of the Corps Family and supporters. in order that the Chanty arKI A5X￿la￿ beL￿me the heart ofthe Corps Family. In particular. the Charty has the followirvj desired ￿raIN)nal outcomes by the end of 2024: 1. To be the natural and truslfyj fwst wxnt of c{￿laCt for the Corps Family 2. To offer a¢tNe and effeclive support to Comm*¢Jo Forces 3. To be the leading UK regimental charity champthing our members and enabling collaboration be￿een major tri-seTrice associations 4. To number 24,1)00 members with a YC￿nger denwraph S. To have an enhanced geographical f￿1p[Int 6. To have Ixtter trained and enabled volunteers 7. To enable a fulty developed PR fvnctbm to enable •Jvtta¢y 8. To se¢ure an annual net income £5mln (currently £3mln) including Sustainab￿ Major Donor and Corporate Income The Ex8¢ulrie has commenced furthef to ijentify like￿ I￿Ograph￿ and xtuarial ch￿geS ofthe beneficiary c(Hnmunity in the next 5-10 years. the ￿viSed operational commitments of the Royal Marines, and other accepted trends in trte and v*ran military population of the UK. with th& OppOrtunrt￿ challenges that will be prewted in order to ensure appropriate and effectNe support. We will seek lo devek)p the Unique Seling Point of the Ch￿ as the embedded charity of ￿ Corps. so uniquety placed to provide appropriate charitable suppcffL Budgeted spend to ddiver necessary SUF¥X)rt in 2022 has led to Ihe trustees approving a deficit budgel of1£530.000). There are sufficient tree ￿SeNe$ for 10 months of expendrture as at the time of signin9, but if fundraising and other in¢ome-generab'ng acknvibes are Th)t able to continue normally, the trustees will need to liquidate investments whKh are intended to be hekj for the long tenn in order lo generate recurring income stream for beneficI￿e$. Cashflow ts monitored monthty. kJokn'n9 forward 12 months. Based on the revised forecasts the Trustees are saltsf￿d that there a reasonable oxpe¢tation thal 21 ROYAL MARINES ASSOCIATION - THE ROYAL IIARINES CHARrrY REPORT OF THE TRUSTEES the Company has adequate resources to C￿t￿lue in oppral*?nal existence for the fo￿See?b1e future. The ¢ompany theref(￿e continues t0￿pt the going Con￿ basK8 in p￿paring ils fina￿la1 stsiement$. ACKNOWLEDGEMENTS The Board wishes lo place on record its grats1￿ to all those who have contributed to the fundraising progress of the Charity and its Out￿ts in 2021. in partKular. Our prinapal corporate partner Patron Ca￿tal Advisers LLP and its Managing Director land our trustee) Mr Keith Breslauer. who have enatrAed the generats.on of further income by bringing in substantial support from other CarF￿aleS and Indiv￿Ual5. akngside 9Ning support to ￿dIVIdual Royal Marines seeking employment ortraining. whiLsl also provKling meeting rooms, an offKe space and secretsrial asSiStar￿ free of charge.. Peak Scientfft with June and Robin m￿Ge￿. Otympian Homes with Mark Slatter, and Mundy Group with John Mundy who have continued to provide signfficant donations and support., The Armed Fcyces Covenant Fund TrusL whth has provided substantial supp)rt to the charity's work in year wth £35,000 Positive Pathways funding tcrrtards the 2021 Norway Families Deploymenc £20,000 from its Force for Change programme tU•Yards branch weware support, and £250.250 from its One is Too Many sui¢hJe prevention programme. Other indNiduals who have provided subst*tial donations are tco numerous to mention in full. bul particular thanks must go to SUPF*Yting organisation$ - Ihe Globe & Laurnl M￿azine which has provided a fvrther substantr'al donation of £105.OIY). the Royal Marires Band sery￿e. ihe Royal Marines Sports Assctialion. Commando Training Centre Roy* Marines. and all regularand reserve units of the Corp$.' and to the ts'rdess amiy of community fundraisers. most of whcrfn are members of our Association. The Board wishes to thank the RNRMC for ils substsntial b￿k-offi￿ support provided pro l￿n0 during the year. alongside its sw3nificanl £100,000 grant towards veteran benevolen￿ supwrt. The Trustees also thank other independent charitEs and organisations with which it works clDsety". SSAFA the Amied Forces Charity. the Royal Naval Benevolent Tntsl. ts Naval Chihjren's Charity. the Royal Navy Officers, Charity. The Royal British Legion. GreenwKh Hospstal. the Special Boat Service Association. the White Ensign Associabon. Aggie Weston'$. Walking Wth the Wounded. Supporting w￿nded Veterans, Combat Stress. Help For Heroes. Heroprereurs. Bootre¢ks in2 Business R￿k to Recovery. YAatement of Trustees, Re8pornibilltl8s The trustees (who are also the direclors of RMA-The Royal Marines Charity for the purposes of company law) are reswnsible f￿ preparing the Rer¥Xt of the Twsiees an¢J the financial statements in a¢cordance wilh applicable law and United Kingdom Accounts'ng Standards (United ￿ngdoM Generally AG¢epted Accounting Practice). Company law requires the trustees to prewe financial statements for e*h financial Feriod that give a true and fair view of the state of affays of the chartlable company and of the incoming resources and applKalion of resources, including the income and expenditure. of the charrtable company for Ihat period. In preparirwj those finanual statements. the trust￿ are required to: select suitable xcounting wlKies and appty t￿*M con$i8tenUy: ¢ompW with applicable accounting standards. including FRS 102. subJ"ectto any material departures disch)sed and explained in the financial statements. state whether a Ststement of Recommend￿ Practice (SORP) applies and has been followed, subject to any material departures which are explained in the financial statements. make judgements and estimates that are reasonable pft￿en( prepare the financial Stal￿ents on a going co￿eM basis unless it is inappropriate to presume that the charitable company w￿1 continue in business. ROYAL MARINES ASSOCIATION - THE ROYAL MARINES CHARITY REPORT OF THE TRUSTEES The trustees are responsible for kee￿n9 ￿ryer x¢ountiNJ records whKh dtsclose with reasonable accuracy at any time the financial Po￿tion of the charitstle company and to enable them lo ensure that the financial statements comply with the Companjes Att 20C6. the Charities and Trustee Inveslment Swtiandl Act 2005 and the Charibes Accounts (Scotland) Regulalbxs 2Ci16 as amended by The Charits'es Accounts (Scotlandl Amendment (No. 21 Regulabon$ 2014. They are also responsible for safeguarding the assets of the charitable ¢ompany and hen￿ for taking reasonable steps for the prevention and detectim of fraKI and olher irregukrities. In $0 far as the trustees are aware: there is no relevant audit infryfflatk￿ of wh￿h the charitable Company's auditor is unaware,. and the trustees have taken all the steps that they ought to have taken to make themsefves aware of any relevant audit inf(Ymatson and lo eslabltsh that the auditor is aware of that inforrnation. The charitable 1￿mpa￿ has tsken advantage ofthe small companies. exempt￿. This reprKtwas approved by the Trustees ......... ..... . . . . . and synpJl on their behall by Mrs LR Fordham (Chaimian} 23 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBER OF ROYAL IAARINES ASSOCIATIOPk THE ROYAL IAARINES CHARITY Opinlon We have audited the fina￿181 statements ofThe Royal Mwnes Charity forthe yearended 31 December 2021 which comprise the Group Ststement of Financk31 Athities. the Group and Parent Charitable Company Balan¢e Sheets. the Group Cash Fl(y* Statement and notes to the financial statements, including a summary of signth¢ant ac¢ounlirrfJ poSKies. The financial reporting framework that has been applied in their weparation is appli¢able law aNJ United Kingdom Accounting Stsndards {United Kingdom Generally A¢¢epted Accounting pr￿t￿e) induding FRS 102 'The Fffian¢MI Reporting Standard Applicable in the UK and I￿land.. In our opinion the ffinancial ststements.. give a trye and fair view of the state of the group'$ and the parent charitab￿ company's affairs as at 31 December 2021 and of the group's incoming resources and application of resources, in¢luding its income and expenditure. for the year then ended., have been property prepared in aCc(¥dan￿ wrth United l(rydom Generalty Accepted Accounting Practice: and have been prepared in ￿ance with the Companies Act 2C(16. the char￿eS and Trustee Investment Iscollandl Act 2005 las amended). regulalions 6 and 8 of the Charities Accounts (Scoland) Regulations 20C6 las amended) and the Charrties Act 2011. Ba818 for oplnlon We conducted our audit in accordance ￿ Int￿nat￿m￿l Standards on Auditing (UK) IISAs(UKI) and applicable law. Our responsi￿li11eS undef those standards are fijrther descrited in the Auditor's Responsibilities for the audit of financial statements section of our reFfvNt. We are independent of the chantable company in accordance with the ethical requirements that are relevant lo our audf( of the financial statements in the UK, including the FRC'S Eth￿al stsnd￿, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audrt evidence we have obtsined is Suff￿lent and approwiate to provide a basi8 ts our cyinion. Conclu8lon8 r•latlng to golng concern In auditing the financial statements, we have concluded thal the trustees. use ofthe going co￿eM basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfom)ed. V•* have rK)t klentified any material uncertainties relating to events or conditi￿S ihat, individually or collectivety, may cast signfftant doubt on the charitabbe company'$ ability lo contN)ue as a g￿ng ¢c¥￿￿n for a Ferth of at ￿ast iwehe Tr￿thS from when the ffinanual statements are authortsed for issue. Our responsibilities and the ￿ponsI￿.11￿es of the trustees with respect to going ¢on¢em a￿ describ in the relevant secb.ons of this report. other Inforniatlon The other infoThation comprises the inf0M￿t￿)n I￿l￿ded in the annual r8P(rt other than the financial statements and our auditors re￿rt thereon. The trustees are responsible for the other information. Our opinion on the finanual siatements does not cover the other information ar¥J. except to the extent otherwise explicily slated in cmjr rewt we do not ewess any fomi of assurance conclusion thereon. In ¢onneclion with wraudil of the financial statements, our resp)nsibilty is to read the other information and, in doing so. consider whether the other infomiath)n ts materialty inconsislent with the financial statsments or our knowledge oblwned in the audit crf othemise appears to be materially misstated. If we identify s￿h material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If. based on the work we have performed. we ccfflckjde that there is a material misstatement of this other information. we are requred to report that fact. We have nothing to report in this regwd. REPORT OF THe INDEPENDENT AUDITOR TO THE MEMBER OF ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY Opinions on other matters prescribed by the Companles Act 2006 In our opinion. based on the wofk undertaken in the course of the audit the infomiation given in the trustees, annual report for the financial year for v1h￿h the financial Statements are prepared is consistent wilh the ffinancial statements" and the trustees. annual report has been ￿epa￿d in accordance with appli¢abte *gal requiffjments. Matters on which we are requlred to report by gx¢eption n the light of the knowledge and understanding of the group and parent Chafilable Company and its environment obtained in the course of the audiL we have not Kjentified material misstatements in the trustees, annual reFrf have noth*)g to repc¥t in respect of the folkmng matters where the Companies Acl 2006, the Cl*rities A¢￿Unts (Scotlandl RegulatM)ns 20(b (as amen￿) aTrJ the Charib'es A¢t 2011 require us to report to you if. in our opinion.. the parent Chariiable company has not kepl adequate aThl sU￿le￿ accounting records. or retums alequale for our audit have not been received from branche5 not visited by us,. or the parent tharitable company's ￿anCIal statements we not in agree￿nI with the ac¢ountiThJ records and returns. or certain disctr)sures of trustees, remuneratK)n SFe¢ifEd by Iw are not made; or we have not received all the information explanation$ we reqU￿e for our audit: or the trustees were entided to prepare the fina￿la1 statements x) accordance with the small companies regrne and tske advanta9e of the small companies exemption in preparing the Trustees, AnnLBI Rewl and pweparing a Strateg￿ repcmt Responslbilitios of trustees As explained more fulty wi the trustees. Tesponsibiliiies statemeTrt set out on pages 21-22 the trustees (who are also the di￿torS of the charitable company for the purposes of company lawl a￿ reSp￿sIble for the Preparation of the financial stalements and for being satisfied that they gNe a true and fair view. and ￿ such internal control as the trustees detemine is necessary to enable the weparalion of financial statements that are free from materHI misstate￿n( whether due to fraud or error. In prewng the fina￿la1 statements. the trttstees are respLY￿bIe for a5S8S5ing the group and parent charitable company's abilty io continue as a going ¢otKem. discknsing. as applicable, matters relatèd to goin9 concem and using the going con¢em basis of acc￿nting unless the trusiees ether intend to liquidate the group or parent charitable company orto cease operations. or havo no realistic atemalive but to do so. Audltorfs ro$pty￿b{lItleS for tho audit of the flnanclal stat•monts We have been appointed as auditc* under secti￿ 4411){c} of the Charthes and Trustee Inve$tmenl {Scolland) knt 2CIJS. the Companies Act 20C6 and Section 151 of the Chan'ties Act 2011 and repM)rt to you in accordance with regulath)ns made urthr Acts. Our otiectives are to obtain reasonable assurance about whether tho financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that inthdes our opinion. Reasonabte a$suRn￿ is a huh level ofassurance, but is not a guarantee that an audit Conducted in accordan* with ISAS (UK) will aKvays detecla material misstatement when it exists. Misststemenls can arise fvom fraud or error and are considered material if, individually or in aggregats, they could reasonabty be expected to in1luer￿ the econom￿ deeisions of users taken on the basis of tr￿e financial statements. As part of an a￿lIt in a¢cordarKe ISAS (UK) we exerose yofessw)nal judgement and maintsin professional scepticism 1hrc￿ghOut the audiL IAÈ also: 25 REPORT OF THe INDEPENDEMf AUDITOR TO THE MEMBER OF ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY Identify and assess the risks of material misstatement of the financial statements, whether due lo fraud or error, design and perform audil [￿￿edureS resp)nsive lo those risks. and obtain audit evmjence that is sufftienl and appropriate to provide a basis for our opinion. The risk of not detecling a material misstatement resuliing from fraud is higher than for one resulbng from error, as fraud may involve collusion. f￿ry, intentional omissions, misrepresenlations, or the override of internal contr￿. Obtain an underslaThJing of internal ￿levant to tre audit in order to design audil procedures th* are appropriate in the arcumstances, i￿1 not for the purposes of expressing an opinion the eff￿tlveness of group and parent chaiitsble company's intemal control. Evaluate the aprKowialeness of accounb'ng poI￿leS used and the reasonableness of accounkn'ng estimates aTKI related discknsure5 (n￿le by the trustees. Conclude ￿ th8 appropriateness of the trustees. use of the going concem basis of xcounting and. based c($ the audit evidence obiained. whether a material uncertainty exists related to events or conditions that may cast s19nrf￿ant doubt on the group and parent charrtable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to attention in our auditorfs re[￿￿1 to the related disc105ures in the financial statements or. rf such disclosu￿5 are inadequate. to modrfy our opinion. Our corKlusions are based on the audit evKlence obtained up to the date of our avdilorfs report. However. fijture events or conditions may cause the gr￿Jp or parent charitable company to cease lo continue as a gryng concem. Evaluate the overall presentat*)n. structure and content of the financial statements. including the disclosures. and whether the finar￿la1 statements represent the uThJerlying transxlions and events in a manner that achieves lair presentat￿1. Obtain suffi¢ient appropriate ￿dit evidence regarding the financial information of the enttties or business activities within the 9roup to express an OFinion on the consolidated financial statements. We are responsible for the d￿ect￿)n. super¥is*)n and performance of the group aud￿ We remain soldy respansible for our audit reporL We ¢ommuni¢ate wilh those Charged with govemance regarding. amorvj other matters, the planned scope and ts'ming of the a￿￿rt and significant audit findings. including any significant deficiencies in temal control that we identify during our Explanatlon as to what extent the audlt was ¢onslderod ¢apable of detectlng Irregularlties. Including fraud Irregularities. induding fraud. are instances of non4ompliance with laws and regulations. We design procedures in line with our re$￿SI1￿"11tEs. outlined at¢Jve. to detect material misstatements in respect of irregulanb'es. including fraud. The extent to whth our procedu￿$ a￿ capable of detedng irregularities. including fraud is detailed bek)w. The objectives of our audit in respect of frwd. ￿e. to identify assess the risks of material misstatement of the financial statements due to fra￿j,. to obtain S￿￿lent appropriate audit eviden regarding the assessed risks of material misstatement due lo fraud. through designing and implementing appropriate responses to those assessed risks: to respond approwately to instances of fraud or suspected fraud identsfied during the audit. However. the primary resFonsibilty for the preVen￿n and detecti(M of fraud with bolh rnanage￿￿nt and IFw)se char9ed with 9overnan¢e of the Charitable company. Our approach was as follow8". We obtained an understanding of the Wl arKI regulatory requirements applKable to the charitable company and considered that the most significant are the Companies Act 2006. thé Charitie5 and Trustee Investment {Scotlandl Act 2005 las amended}. regulations 6 and 8 of the 26 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBER OF ROYAL MARI4ES ASSOCIATION- THE ROYAL MARINES CHARITY Charities Accounts (Scotland} Regulations 2006 las amended), the Charitses Act 2011, the Charity SORP. and UK finan¢ial reporting standards as issued by the Financial Reporting Cour￿11. We obtained an ￿derSta￿￿Ing of how Ihe charitable company complies with these requirements by dintssions Vlith rn￿agement and those chaw with govemance. We assessed the risk of matenal misstatement of the financial statements, including the risk of material misstatement due to fraud and hcm it might (￿CUr. by holding discussions with management arKI those charged with wvemance. We inquired of m￿agement and those Charged with govemance as to any krKwn instsnces of non-compliance or suspected non<0mpli￿* with laws and regula￿$. Based on this understanding. we desb3ned specffic appropriate audit procedures to identify inS￿ceS of non-compliance wrth laws and regulations. This inckHled maknng enquiries of management and those charged wth govern￿e and obtaining adilional corroborative evidence as required. There are inherent limitations in the audit procedures described atx)ve. bess likety lo beCC￿e aware of inS￿ceS of n(￿-cOMpl￿nce with laws and regulaticrfls Ihat are not cbsely related lo events and transactions relknled in the financial statements. Also. the n5k of not detecting a material mi5Statement due to fraud is higher the fisk of not detecting one ￿$vItIng from error, as fraud may involve deliberate concealment by, for eXaM￿e. ￿gery or intentional misrepresentstions, or through colusDn. Lke of thls roport This report is made sdoty lo the charitable company's members, as a body, in a¢¢ordan¢e with Chapter 3 of Part 16 of the Companies Act 20[￿., and to the ¢harty's trustees. as a boty. in accordance with Section 44(11{¢l of the Charities and Trustee Investment {S￿dan￿) Act 2005. in respect of the onsolidated financial ststements. in ￿ance wrth Chapter 3 of Part 8 ofthe Charties Act 2011. Our audit WO￿ has been undertaken so that we mp3ht state to the ¢harilable company's members and trustoos those matters which we are required to state io them in an audstorfs reFQrt and for no other purpose. To the fijllesl exlent pemiitted by law. we do not accept or assume responsibility to any party other than the charitable company. ￿ cttaritable Company's members. as a body. and the charity's truslees. as a body for our audit work. ts this rewi or opmion we have formed. J.A LL Neil Finlayson (Senior Statutory Auditor) for and on behalf of ￿)ore Kingston Smith LLP Chart8r&d Accounlanls Statutory Audit Devonshire House 60 Goswel Road London EC1M 7AD Date.. 18 May 2022 Moore Kingston Smith LLP 1$ el¥Ji￿e lo art as an auditor in tern￿ of Sec1￿ 1212 of Companies Act 20C6 27 RMA THE ROYAL MARINES CHARITY CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 Total Funds 2021 Total Fund8 2020 Fund Fundg INCOME & eNDOWMETr￿S Donallons and le9¥￿ 2.626.104 893.810 3.525.914 2.398,495 Olher tr8dMig acbwties 528.481 3.619 532.11JJ 441.2CIJ Inveslment income 121.746 89.491 211,237 3.276.331 992.￿20 4.269.251 3.148.378 Charltable acfNthes Olher incom& CJRS grant 341.828 341.828 357.049 72.028 Total 0￿ratIng Inc(¥ne 3.279.057 1.334.748 4.613,805 3,577,4S5 ExpeNOITURE Ral$lng funds Investment management fees FUndrai￿ng costs 54.085 1.799.502 44.199 13.3L 98,284 1.812.808 79,442 1.5CKI.309 Total ￿$t of raISN￿ f￿￿5 1.853.587 57.505 1.911,092 1,579.751 Ch8rftsble aetlvweg Benevolènc• ffhroW lite Amenthes lQualty of lifel SFx)rt (Frt for life) 249.474 312.946 114.852 936.112 551.674 258.103 1.185.586 1.114.839 864.620 3.397,363 372.955 330.632 Total charitable eXp￿dIture 677.272 1.745,889 2,423.161 4.842.834 Total operatwjg •xwvlitur• 2.530,859 1,803,394 4,334.253 6,422.5B5 N•l operatlng incomellexpenditsrn) 748.198 {468,646) 279.552 {2.845.1301 Net galnBIIIoBgesl on inveslment 17 691.164 482.031 1.173.195 1662.0501 N•t l•xp•ndltur•)finaom• 1.439,362 13.385 1.451747 {3.507.1801 Gross tr￿Sfer5 bets￿n movem•nt In fund8 1.439.Wd 13.385 1.452,747 13,507.180) Total lurvjs lyought fovw¥d 8.182.471 5.187.083 13,369,554 16.876,734 Total fundB Carr1￿ forward 9.621.833 5.2C(1.468 14.822.301 13,369,554 The charity h85 reco3nised losses fr* ts yeariAher a5 detaled abm. The movements in the Ch￿$ fuKls for Ihg year ￿*1.$ ¢crfinuing acli¥itses. The noles on pages 30 to 46 frym part ofthese ROYAL MARINES ASSOCIATION- THE ROYAL IfjARINES CHARITY BALANCE SHEET- GROUP AND CHARITY AS AT 31 DECEMBER 2021 Group 2021 Group 2020 Charlty 2021 Charrty 2020 Flxed ass•ts Intangible assets Tangible assets Investments 15 16 17 225.539 538.733 12.178.(￿2 107,762 557,302 11.086,093 225,539 534,979 12,178,162 107,762 553.966 11,086,193 12.942.334 11.751,157 12,938,680 11,747,921 Curront assets Stock Debtors Cash al bank and in hand 18 19 229.884 399.416 1.869.723 195.003 314.869 1.988.262 60.941 365.654 1,748.618 60,651 284,424 1,770,631 2.499.023 2,498.134 2.175.213 2,115,706 Llabllltios Creditors falling due within orE year 20 (584.989) {834.73n 1463.472) 1672,6731 Net current assets 1.914,034 1,663,397 1,711,741 1.443.033 Totsl 88gets less ¢urfent Ilablll¢les 14.856,368 13,414.554 14,650,421 13,190,954 Credltows falllng du? In more than ono y•ar 21 (34.067) {45,[￿) Net asset8 14,822,301 13.369.554 14,650,421 13.190.954 A¢¢umulated funds Restricted fvThJs 5.2Tr).468 5.187.083 5.200,468 5,187,083 Unrestricted funds 9.621.833 8.182.471 9.449,953 8.003,871 Total accumulatad fund8 14,822,301 13,369,554 14,650,421 13,19D,954 Company registraiion number. 07142012 The chwitable compary has taken a(Ivantage ofthe small compan*s' exemption. 12 May 2022 The ffinancial statements and the notes on pages 28 to 46 vme approved by the trusteos on ......................... and signed on ther behalf by: Mrs LR Fordham (Chalrmanl ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEPIBER 2021 2021 2020 Cash flowl{ouffiow} from operatlng actlvltjes Net cash (used in) operating activities 1249,658) (554,305) Cash Ilows from Investlng actlvltles Investment income interest received Proceeds from disposal of fixed asset investments excluding endowment fvnds Acquisilion of fixed asset investrnents exduding erldowment fvnd$ Payments lo acquire tangible fixed assels Payments to acquire intangible fixed assets 211,237 308,683 12.179,821 4,227,223 <12.098,5951 {5,C681 (150.3431 (2.894,2651 (749,651) (107,762) 137.OS2 784.228 Cash (oufflowylnflow Irom financlng actlvlt Bank loan (paid}IreceNed 15,933) 50,000 Nel IdKreaseylncrease In cash aNI ¢ash equtvalents Cash and cash equNalents at beginnirrfJ of year (118,539) 1,988.262 279,923 1.708.339 Cash and cash gquivalonts at gnd of year 1,869,723 1,988,262 Reconclllallon of net Incomel (expendllure) to net cash flow from operatlng actfvltl•s 2021 2020 N•t Incomel(expendliur•) 1.452,747 (3,507,180) AdJustm•nts for: Depreciation charge Amrtisation charge Nel Igainsvlosses on investmerrts Investment inco Grant to MOD- fixed asset disFosal (Increase) in stock (Increaselldecrease in debtors (Dec￿aSe> in creditors 23,637 32,491 (1.173,195) {211,237) 662,050 (308.683) 2.740,335 (9.418) 80,178 {244.078) {34.881) 184.5471 (254.748) Not cash lus¢d In) operallng actlvl¢les (249,658) 1554.305) 30 ROYAL IIARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES al Basls of preparatlon These fi￿n¢la1 Staten￿nts are prepared on a going c(xwn basis, underthe hiskncal costconvenlion. as l￿dIfied by Ihe revaluation of investrnents teing measured at fair vahje through income exFeThJrture within th8 Statement of Fin*cial A¢bvities. The f¥ban¢ial statements have W prepared in ￿￿dan￿ the FInar￿la1 RepoTbng Standard applicab￿ in the UK and ReputAi¢ of Irelwd IFRS 102). The Charitable Ccffipany and its sub5idiarie5 are a public benefit group for the purpose$ of FRS 102 and Iherefore the Charity aL80 prepared ils finar￿￿ ststements in ￿9rdance with the St*ment of Re￿MmeThIed Prthe to charit*s preparing their ￿cOUnts in ar￿ance with the Financkil Reporttng Standard appI￿￿le in the UK Republ￿ of Ireland (The FRS 102 Charities SORP), the Companies Act 2006. the Charit*s Act 2011 a￿j Ch¥thes kn>JJnts (Scdand) Regu￿19r￿ 2006 as amended by The Charities Accounts {WarMI) ￿￿￿jment (No. 2) RgJulalKM)$ 2014. The finan￿￿ Statements are prepared in sterling. ks the functs)nal currency of the charity. Monetary amounts in these finar￿la1 staiemerts are to ￿ rwrest Found. The wincipal ¥KountiTrJ pokcies *Jopted in the wepaya1w￿ of financbal statements are set out below. bl Golng ¢oncorn The trustees have assessed whether the use of the going concem basis is approprTrate and have considered )ssible events or conditions. induding those ￿fyng from the Cov1￿19 pandemic, that might cast significant doubt on the ability of the charity to conb'nue as a going concem. The trustses have made this assessment for a period of at least one yew from date of approval of the financial statements. In pa￿C￿lar the trustees have considered the chafitable gro￿,$ fwasts and projections and have t*n account of pressures on donation and investsnent income. After making erquiries Ihe trustees have concluded that there is a ￿aSOnable expectation that the charity has adequate rescHJrces to continue in operational exislerKe for the foreseeable future. The charity therek* ccffjtinues to adcpt the goiry concern basis in weparing its financial statements. c} Group flnanclal statomonts These fina￿la1 statements ¢￿s¢￿te Ihe results of th8 Charity, TRMC Enterprises Limited and the RM Shop mited, wholly owned trading subsidiaries a line by line basts. A separate Statement of Financial Activities and Income and EXpendrtv￿ A¢¢ounl is not presented for the Charrty ilself as the Chanty has taken advantage of the exempkns afforded by se¢tion 408 of the Companies Act 20(6. d> Incomo All inccrfne is recognised when there is entitlerr￿rt to the fvnds, Ihe r￿elpt is probable and the amount can be measured reliably. LegacEs are recognised followTVJ probate and once there is Suffici￿1 evidence that receipt is probable and the amount of the legacy receNable can be measurtd reliabilty. Where entitlement to a legxy exits but there is uncertainty a5 to its receipt or the a￿)Unt receNth. details are disclosed as a contingent asset until the criteria income recognition are met tr￿rne is defe￿¢d when the dc￿Or attaches t￿OrtiOnS outside the charity's G￿trol or specifies that ihe resour¢es ale to be used in a futuft ac¢ounkn'ng period. Investment income is receNed net of investment management fees but is grossed up li ￿COUnts for investment management fees. Grants relating to revenue are recc*Jnised in in¢ome on a systemalic ba5i8 over ts pe￿dS in which the entity re¢ognises the associated costs for whT¢h the gwt is intended to compensate. Thts includes £2.726 12020: £72,028) of Govemment assi5tarte under the Coronavirus Job Retention Scheme ICJRSI relating to staff who were furloughed due to Covi&19. 31 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 el Voluntèors and donated sorvice8 and facilitigs The value of seryices wJvided by volunteers is not incorrK¥ated into these financial statements. ere SeThI￿ are provided lo the charity as a donation that woukj normally te purchased. this contribution is included in the financ￿ statements at an estimate based on the value of the contr11￿110n to the chanty. fj Expènditurn Liabilitie5 are recognised once there is a legal or constructive obligation to transfer econrynic benefft lo a third party. it is probable that a transfer of economic knefits wll be required in settlement and the amount of the obligalw)n Can be measured reliabty. ￿1 expendiiure is ￿)Unted for on an *cruals basis and has been classified under headings that aggregate all costs ￿lated to the catsg¢)ry. Grants payable *e payments made lo third parbes in the furtherance of the charitable objects of the Charity. Uncondits'onal grant offers are accrued once the re¢ipbent has been notified of the grant award and its payment is probable. Grant awards that are subject to the recipent fuffiling perfmnce or other conditions are accrued when the recipient has been nolifie(l of the grant and either the perfomiarte condition is met or any remaining unfulfilled condition attachirrfj to the grant is outspJe of the control of the Charity. gl Irrecovèrdble VAT Irrecoverable VAT is char9ed against the catewy of resources expended for which it was incurred. h) Allocation of ovort*ad and support Costs Overhead and supportcosts have been allocated ffi￿t befvrnn ofgerwating funds. charitable activities and govemance. Overhead and suptKrft costs rekgtsng to charitabk xtivrties have been apwtK>ned be￿een tNrties. l) Cost of ralsing funds The cost of raising funds consists of investment management fees and fundraising Costs including an apportionment of overhead a￿1 SUFPNt costs. J) Charitable adivitiès Costs of charitable aclriities ¥Klude grants payable and other costs directly as￿￿lated with providing SFXYts. arfftnilies. prizes and awards. de￿￿ants grants or benevolence to beneficiaries and ￿ apportionment of overhead and SUPF#Xt costs. kl Govemance costs Govern￿ce costs comprise al costs involving the aceountabilty and running of the charity and its compliance with regulation and gocd practice. These costs incfvjde costs related to sL2tutory audit, legal fees and trustee meeling expenses together with an apport￿Inment of overt￿ad and support costs. l) Penslon ¢osts and olhor post-rotlr•nont ￿￿offt$ The chanty opwates a defined contribution pension scheme. ContrlLwt￿S payable are charged to the Statement of Financial Activities in the permid to which tw reL4te. m) Flnanclal Instrumw The charity has elected lo appty the provisims of Se¢ti)n 11 'Basic Financial Instruments, of FRS 102 to all of ils financial instruments. Financi* instrurrtnts are recognised in the ¢ompany's balance sheet when the Charity becomes party to the ¢onlra¢tual provisions of the instrument. Financial assets and liabilities are oftsel. with the net amounts presented in the finarKial statements. when there a kgally enforceable right lo set off the recognised amounts and there k8 an intenth)n to setue on a net baws or lo real* the asset and setue the liability simullaneousty. 32 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIIiBER 2021 th the exceptions of prepayments and deferred ir￿orne all other debtor creditor balances are considered to be basic financHI instruments under FRS 102. See notes 19 and 20 for the debtor and creditor notes. n> Stock Stock is stated al the loww of cost and net realisable vaue. ol Tanglble flxed assets Individual ftted assets costing £51)) ￿ rn￿e are caimalised at cosL Tangible fixed assets are dep￿cIated on a straght line basi5 over their eslimate(S useful economic lives as foll￿s.. Computer and office equipment Ffeehohj propety Leasehold propety over 3 years stra*3ht line over 50 years straight line over the of lease pl Intanglblo fixod assets Intangible fixed assets are an￿￿ti￿ on a slra&Jht line basts over their estimaled usefijl economic lives as follows. Sofvare o¥er 3 years strawjhl ling At the end ofeach re[￿1)g perirMJ. the re￿dUal values arKi useful lives ofassets are reV￿￿d and adjusted rf necessary. In addition, rf events or change in cK¢umstsn￿ indicate that the carrying Val￿ may not be recoverable then the Carrying values of tangibte fixed assets a￿ reviewed for impairmenL q) Investments Investrnenls are stated at market V￿U0 in¢luskve of wued income as at the balance Sheet date. The Statement of Financial Activities incI￿jeS the netgans and losses ark8ing on revaluaiion and disposals throughout the year. Changes in fair value and gains and losses arisirwj on the disp)sal of investfflents are credited ￿ charged to the income or exFenditure section of the Statement of F￿a￿la1 Actsvrt￿S a5 'gains or k)sses on investments, and are allocated to the approwiate fund holdww or disposirvj of the re￿¥￿1 nvestment r) Funds structure Restricted ￿ndS are are to be u￿j in xc(*dan* with speci￿ reStr￿￿onS imposed by the donor. Unrestricted funds comprise those funds which the trustees aft free to use for any purpose ￿ furtheranc8 of the charitable objects. Unrestncted fUr￿S include designated funds whwe the truslees, at their discreb'on. have created a fund for a specific purpose. 8) Herltage a5s•ts The Charity is the owner of a collection of Paintings. SifveThvare and other ilems. Mary preC￿u$ works are contained within messes a¢ross the Corps. which is htyjsed managed on behalf of the Charity by Serving Royal Marines vthhm the Corps Secretariat. The collecb'on 1$ considered Irre￿￿aCeab1e and as such It is not possible lo attributa a reliable cost or Value to it. li is additionally considered that the prctèss of obtaining valuations of the c￿lection would be dispropmxt￿ale to any public benefft that might b8 derived and that it ts imprthal to a￿Y conventional valuation technv4ues to the ¢ol*lMYt. due to the uniquoness of its nature. t) crftlcal accounting 88tlmatss and areas of jUdg￿￿ent In th8 view of the trustees in apptyirwj the accounb.ng polw adopted, ￿ judgements We￿ ￿qUired Ihal have a significant effect on the amounts reccwJnised in the financial statements nor do any estimates or assumplions made carry a significant risk of matenal adjustment m the next finawal year. 33 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2021 LEGAL STATUS OF THE CHARITY The charity is a company limite(I by guarantee ar*d has share capital. The sole member of the Charity is The Royal Navy and Royal Marines Charity. In the event of the charty being wound up. the liability in respect of the guarantee is limited to £1 per member of the charity. FINANCIAL ACTMTIES OF THE CHARITY The financial activities shown in Ihe ¢onsolidaled statement includes those of RMA-TRMC its wholly owned trading subsidiaries TRMC Enterprises Limited and Royal Marines Shop Limited. A summary of the fin￿claI a¢tW4itEs undertaken by the RMA-TRMC is sel out below.. 2021 2020 Totsl income Expenditure on charitsble activities Expenditure on raising lunds 4,119,516 12,235,639} (1,597,605) 3,184,557 14,715.469) 11,285,840) 286,272 1,173,195 12.816.752) {662.0501 Net investment gainslO055es) 17 Net incomel{expenditure) Totsl funds brought fowaTd 1,459,467 13,19),954 13.478,8021 16,669,756 Total fvnds Carried forward 14,650,421 13,190,954 Represented by: Restricted funds un￿Stricted funds 22 5.200,468 9.449.953 5,187,083 8.003.871 14.650.421 13.190,954 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEPIBER 2021 VOLupifARY INCOME Total Fund$ 2021 Funds Funds 2021 Donations &JbSCrip￿nS Leg￿leS 2.5￿.030 158.970 532.985 207.855 2,659,000 532,985 333.929 126.074 2,626,104 899.810 3,525.914 Unre8tri¢ted Fund• 2020 R••lblcted Fund• 2020 Total Funds 2020 1.509.591 104.392 525,373 171. 1,613,983 525,373 259.139 Subscnptions Lwies 87,175 1,5%.766 801.729 2,398.495 INVESTMENT INCOME Total Fvnds 2021 FufKts 2021 Fund8 2021 Dividends- United Kingdom equities 'vidends- Non-UK equibes Fixed Interest- UK Property Fund Unil Tnjst 54.591 22,868 4.263 21.931 16.916 1.177 35,335 17.162 2.962 17.297 15.819 767 149 89,926 40,030 7,225 39.228 32.735 1.944 149 Interest on ¢a$h deposils 121.748 89.491 211.237 Totsl Fund• 2020 Fund• 2020 Funds Z020 DNidends- United Kingdom equities DNtdends- Non-UK equitEs Fixed Interest- UK Propety Fund Unil Trust Interest on deposits 85.510 5,559 10.872 19.022 55.285 20 38.805 5.656 10.903 19.403 57,629 19 124.315 11.215 21.775 38.425 112.914 39 176,268 132.415 308.683 ROYAL MARINES ASSOCIATION. THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 INCOME FROM CHARITABLE ACTIVITIES Totsl Funds 2021 Funds 2021 Funds 2021 Other grants received 341.828 341.828 Tol•l Funds 2020 Funds 2020 Fund$ 2020 other grants recewed 15.000 342,049 357,049 ANALYSIS OF CHARITABLE EXPENDITURE Other Direct Costs (se• note 10) Support Grnnts Payable Total 2021 Fit for life pathway Qualty of life pathway Through life pathway 155.636 429,981 722,057 217.319 372.955 434.639 864.620 434.639 1.185.586 28,89) 1.307.674 28.890 1,086.597 2.423.161 Other Direct Costs (see nots 10 Support Grants Payable Total 2020 Fit for life pathway Quality of lrfe pathway Through life pathway 121.835 2.979.771 689,134 208,797 330,632 417,592 3,397,363 417,592 1.114,839 8.113 3.790,740 8.113 1,043.981 4.842.834 ANALYSIS OF GRANTS PAYABLE Grnnts to Instftution8 Grants to Indlvlduals Totsl 2021 Total 2020 Frt for lrfe pathway Qualty of life pathway Through lifè pathway 155.636 201,367 555.668 155.636 429,981 722,057 121,835 2,979,771 689,134 228.614 166,389 Total 395,fy)3 912.671 1.307.674 3.790,740 36 ROYAL MARINES ASSOCIATIO￿ THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysis of #istitutions recewir4J gwts.. 2021 Globe & Laurel Rock to Recovery Dame Aggie Westons Human Perfomance Operats'ng Centre Commando TrainiThJ Centre Royal Marines Hants County c￿n¢1￿ Holmes Wake Walknng With The Wounded 40 Commando Royal Marines Gordon Messenger Centre Commando Log*li¢ Regiment Hasler I￿g￿lsaI￿n$ < £5k 84,126 78,820 45,321 32,229 25,022 13.713 12,663 10,000 9,705 7,500 5,000 71,617 395,003 ANALYSIS OF DIRECT GOVERNANCE COSTS Total Fund8 2021 Funds 2021 Funds 2021 Auditorfs remuneraiion Legal fees Trustees, expenses Meeting expenses Other governa￿ costs 24.101 24.101 26.888 4.034 1.091 2.923 4.034 1.091 2.923 59.037 59.037 Unrostrfcted Restslcted Funds Funds 2020 2020 Totsl Funds 2020 Auditorf5 remuner*w)n Legal fees Trusiees. expenses Meeting expenses Other govemance cosis 33.200 42.112 1,154 4,572 4.432 33,200 43,552 1,154 4,572 4,432 1,440 85,470 1.440 86.910 37 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 10. ALLOCATION OF SUPPORT COSTS AND OVERHEADS Cost of Ralslng Charltablo Total Funds Actlvltles Govemance Allocated 2021 2021 2021 2021 £ B•818 58,091 1,479,442 Usage 74.573 372,865 Usage 988,061 Usage 98.284 Usage Cost typ• Staff costs Office and administration costs Fundrai￿ng expenses Investment management fees 579,751 149.146 988.C61 98,284 841.6(K) 149.146 1,815.242 990.746 132,664 2,938,652 59.037 59.037 Direct governan￿ wsts (see note 9) 1,815.242 Allocatlon of gOv￿nCe Supwt costs 95,850 99J,746 95,851 191.701 2.997.689 {191.7011 1,911,092 1,086,597 2,997,689 Ral$lng Charltable Total Funds A¢tlvltle$ Govemance Allouled 2020 2020 2020 2020 £ Ba818 59.652 1.548.986 Usage 67.056 335,278 Usage 573,116 Usage 79,442 Usage CO￿ typo Staff costs Office and adm*)istration costs Fundraising expenses Investment management fees 686,273 134,111 573,116 79,442 803.IA1 134.111 1,472,942 937,172 126,708 2.536,822 86,910 86,910 Direct govemance costs (see note 9) 1.472.942 1C6.809 937.172 106.809 213.618 2,623,732 {213,618) Allocation of go¥emancè sutwt costs 1.579.751 1.043.981 2,623,732 11. STAFF COSTS 2021 2020 Salaries and wages ial security costs Pension costs 1,265.084 133,657 80.701 1,319,362 139,091 90.533 1,479,442 1,548,986 Four employees eamed £60.CrfJOQ70.(NJO in Ihe year (2020.. three). One employee eamed £80.001￿).0O0 in ihe year (2020.. One empwee). No trustee received emoluments {2020. none). Ewjht trustees (2W20: six) received reimlw￿ed travel and subsistence expenses totslling £4,033 (2020.. £2,439). ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIIBER 2021 STAFF NUMBERS The average number of staff employed was 31 (2020: 34 staffj and Ihe average number of fulktime equivalent empbyees (Includi￿ casual and part staffj during the Ye￿ vas as follows: 2021 Numb•r 2020 Numb•r Sutoort 31 12. MOVEMEMT IN FUNDS FOR THE PERIOD 2021 2020 Movement in net fuThJs is stated after¢W•W(ueJJilwvJl". AUdth￿s remunerat￿ lexcludwig irrecovernt4e VAT).. - Statut￿ ￿KIll (current year) - Taxation - Other AmortisatioTr Depreciat￿n- thvned assets 19,060 18,295 500 4,405 5.041 23,637 32,491 13. TRUSTEES AND Key MANAGEMENT PERONN Key management ￿r￿rne1 Ind￿ ts Tn￿lee$. Chief ExecutNe {and senior staff rewting di• to the chief exe¢utive} The total empl¢)yee benefits of the chariils kry Manag￿ent personnel were £597.705 (2020.. £535,204). 14. TAXATION The company 1$ a registered charity afKI Mi pr(r4i5ion 1$ ¢￿sIdered necessary ft)r iaxation. 15. INTANGIBLE FIXED ASSETS Icharlty and Group) T¢)lal C08t or valuallon As at 1 January 2021 ilior 107,762 150.343 107.762 150,343 As at 31 D￿eMber 2021 258.105 258,105 Amort18allon As at 1 January 2021 Charge for the year 32.566 32,586 AS at 31 D￿fiber 2021 32.566 32,566 N8t bc•ok value As * 31 December 2021 225.539 225,539 Ag al 31 December %)20 107.762 107,762 39 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 16. TANGIBLE FIXED ASSETS (Gr(wp> Olllce and L•a5ehold Freohold computer Improvoments proporty equlpment Total Cost or valuallon As at 1 January 2021 dib'ons 9.871 S50.000 112.121 5.Ck58 671.992 5.C68 As at 31 t)￿ernber W21 9.871 550.000 117,189 677.C60 Dopreciatlon As at 1 January 2021 Charge for the year 1.234 19.250 11.000 94.2C6 11.650 114.690 23.637 As at 31 December 2021 2.221 30.250 105.856 138.327 Net book value As at 31 December 2021 7.650 519.750 11,333 538,733 As at 31 December 2020 8.637 530.750 17.915 557.302 TANGIBLE FIXED ASSEfs (Charity) Offi¢• and Frnehold computer prolwty equipm•nt L•as•hold Improvem•nt8 Total C08t or valLAtlon As at 1 Jarntary 2021 Additions 9,871 550,0(h) 107.201 3,422 667,072 3.422 As at 31 Decemt¢r 2021 9.871 550.OCM) 110,623 670.494 Depredatlon As at 1 January 2021 for the year 1.234 19.250 11.0 92,622 10.422 113.106 22.409 As at 31 December 2021 2.221 30.250 103.044 135,515 Net book value As at 31 De¢ember 2021 7.650 519,750 7,579 534,979 As at 31 D8G8mber 2020 8.637 530,750 14.580 553.967 ROYAL IAARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 17. FIXED ASSET INVESTMENTS Group 2021 Group 2020 Charfty 2021 Charlty 2020 Movements in r￿ed asset investments Market value brought fopward Addition$ al cost Disposals al Carrying value Nel gainlllossl cm revaluation 11.086.093 13.081.101 11,086,193 13,081.201 12.098,595 2.894.265 12,098,595 2,894.265 {12.179,8211 {4.227.223} 112,179,821) (4,227,223) 1.173.195 (662.050> 1,173,195 1662,050) M¥ket value carried fopward 12.178. 11.086.093 12,178,162 11.086.193 Anatysis of market value of 1rNeStr￿nts by type.. Unli$ted- RM Shop Limited Equities Bonds Atternative investments Cash 100 8,786.975 1,011,838 2.079.033 3CNJ,316 100 7,032,168 2,971,443 828,410 254,171 8,786.875 1.011,838 2.079.033 31J).316 7.031.969 2.971.433 828.410 254.281 12.178,C62 11.086,093 12.178,162 11,086,193 Analysis of market value ol investments between ttsjse held within aThJ outslde the United ￿'ngdom". 5.686.179 5.400.014 IAfjthin the United Kingdom Outside the United Kingdom 2.959.270 9.218.792 5,686,079 5.400,014 2,959.370 9,218,792 12.178.IA2 11.086,093 12,178,162 11,086.193 18. STOCK Group 2021 Group 2020 Charlty 2021 Charfty 2020 ne and ports Amiada dishes Merchandise 64.347 2.925 162.612 65.715 580 128,708 58.016 2,925 60.071 229.884 195.003 60,941 60.651 19. DEBTORS Group 2021 Group 2020 Ch•rlty 2021 2020 Other debtors Prepayments and accnjed income Due from parent charity 82,325 317.091 92.798 165.571 56.5(M) 48,563 317.091 86,538 141,386 56,500 399.416 314.869 365.654 284,424 41 ROYAL MARINES ASSOCIATION. THE ROYAL MARINES CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEPIBER 2021 CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR Group 2021 Group 2020 Charity 2021 Chartty 2020 Loan Grants payable Almonised grants payab Trade Greditor5 Taxation social security AcGru?Is Other creditOT5 Due to group entities 10.OCKS 47.256 5,507 80,295 51,935 211,270 168,975 9,751 169.803 47,256 5,507 14,281 35,119 176,257 151,719 33,333 169,803 5,346 41,895 35,922 114,939 140.450 164,318 120,792 55,692 340,4 137.608 834.737 463,472 672,673 Custodian fund The RMA-TRMC holds CLLStodian funds on behalf of RMA knnthes and other RM Trusts. These amounts are included within Greditors above. Prlncl l Ob H•ld 2021 £ 2020 £ Fisher House Rgsthe oflundMs*wJ Itw lJ•tr(wi suite in Fisher House Cash 563 comm￿d0 Cops Funds donat&J 2(W13 fr)r siKrftmg thity for injured velerar Cash 2.937 £ 2.937 Frankton ￿en￿[la1 Easth Cash £ 2.39) 45 Wcx)dlands Tnmi Cash (£ 81 £ 20.Ch86 42 Commando Memorial Garden Cash 11.842 £ 11,842 Adam's HocdlThJ Hut 8ea¢* Hut at christCtr￿￿th C88h 21,085 É 17.886 Help4Heroe$ Tr8lning H8ld for trailing ar*1 trA￿neSS sebiy knfiymer Mari￿$ Cash 15.078 £ 15.078 O¢ean Wave- RM Sailing AB80¢iathon Ccos Y￿ Cash 1£ 1.1391 Home[*￿1 Magaz FuThls to be used to pay for ￿ entries in Nava Families F*jerat￿ Mawne £ 3,920 Local BrO￿h £ 20.253 RMA Ru￿Y Brthxh virtu￿ brarth of RMA-TRMC Cash 18.983 £ 9.571 RMA LondiNJ Craft Branch Vwlua bra￿* of RMA-TRMC Cash RMA Concert Vwtual of Rm￿TR￿c sh 49.590 £ 55.447 RMAGig Club VIrtU81 lyan¢h of RMA.TRklC 4.289 350 RMA Concert Band Ensembles Vwiual ofRMA.TRMC C•$h (£ 747) 42 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIIBER 2021 RMA PT Br Vwtual bra￿ of RMA.TRMC RMA Signols Virtual braTh* of RMA.TRMC RMA Sholwn Branch VKtual bra￿h of RMA-TRMC Cash £ 10 RMA Arts SorAety Branch VNtU81 bra1￿h of RMA.TRMC Cash RMA Cathslè 8 tAslitl Bi8n¢h G￿￿1¢81 IKanch of RMA Cash RMA Sh&ffiekJ B Geogr4hioil Lwanch of RMA Cash 21. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR Gr¢>up 2021 Group 2020 Ch•rtty 2021 Charlty 2020 Bank loan 34,067 45.IXIO 34,067 45.fAIO Dumg the year the subsidiary company, TRMC Enterwises Limited. Obta¥￿￿ a bank loan from Lloyds Bank plc under the Governments Coronavyus Bounce B&k Loan scheme. Interest is payable at 2.5% from Juty 2021 and the h)an is repayable ty June 2026. The amount due in more than fve years is £5,000. 22. ANALYSIS OF CHARITABLE FUNDS Analy•l8 of unr••trlctsd tund rnovemw B•l•n¢• at In¢omlng R•souru8 Inv¢sknenl 8alance at 01.012021 rn•ow¢gs •xpended Tran*f•rn golnslllossesl 31.12.2021 TRMC 9et*ral funds RMA Inve$lment FLmd Nalional of Ihe Rwal s.447,￿ 2.702.753 1.556.775 62.015 1.LY)O.LKKI {1.661259) 710.334 1368.5911 169).334} 550.076 141.088 7.749.000 sco.￿0 1.OCQ.000 Charfty total 8.Th)3.871 2.764.768 (2.029.850) 20.ory) 691.164 9.449.953 Subsldlarles Royal Marinas Shop Limited TRMC Ente￿￿se$ Lirrmted 180.105 465.934 I459.￿￿ (41.402 {20.￿}1 1e6.432 Group Total 8.182.471 3.279.057 .530.8591 691.164 9,621,833 The RMA Fund represents the histor￿ investments reserve of the Royal Marines Association, which betsm? part of RMA-TRMC in 2019, of which £500.(K)O is desynated for membersh¥i use. the remainder unrestricted following a do¢ision by the Memtwship sutkcommittee ol the Board in 2020 The National Museum ofthe R¢)yal Navy Fund has been des￿nated by the Trustees towards the cost of the new Royal Marines Museum. ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A￿ly81$ of r•8trfctsd lund mov•rn•nls Balartt at 01.01.2021 Inv¢slm•nt Balan¢* at expended Tr*n*f•rn g•ln•lllo*8e81 31.12.2021 Fund RM Ben￿OI8n1 Fund RM Cadgt FLmd RM Officers. Trust Fund RM Central Sergèants. Mess Fund RM C8ntro1 Unit Instilule RMSA The Amied Forces Coven￿1 Fund Trust- OITM The Ami•d Forces Co¥e Fund TrLr$t- SS Ttte Armed For¢es Cwn• Flmd Tm$t-P¢ydthe Pathway$ The Arm•d Forces Cov8n FWNI Twst.FFC 1.537.610 128.893 1.121.116 554.141 11.122.323) (1.0091 (105.2141 164222 10,993 93.632 1,153.650 140,943 124s,919 143.422 17,03T) 914.403 1.271.918 160.893 148.804 294.616 21.619 (152.416) (117,5301 (155.636) (17.592) 192,650) 117,279 86.769 1￿.415 979, 1,462,769 144,155 122.624 188.W2) 33.932 47.4 116.852) 30,804 332￿> (35.￿) {2,059) 19.( (8.413) 10,587 5.187.083 1.334.748 (1.803.394) 481031 5.2(X),468 Gnjup Total 13.530.465 4.613.805 14.334,2531 1.173,195 14,822.301 RM Benevolenl Fund is a restricted fund amalgamated from a range Irom Royal Mame5 3P8Gific fvnds designed to support Serving. Veterans and their de￿ndants. RM ￿￿et Fund is a restricted fund which ge￿ateS a small anount of investment 1￿me to SUPFQrt RM C*lets with various amenty bids. RM OffKers' Trust Fund is a restrthd fvnd to SUPF#Nt Royal Mames in PYOVKling grants for Sports. FurKtions and Amenity bids. RM Central Swgeants. Mess FurKI is a reslrKted fund lo supp(xt Royal Marines sen￿ in providing grants for Sr•Jts, Functions Amenty bids. RM Central Unit Inskntuts, Fund is a restric￿ fvnd to supp(xt Royal Marines Juniors in prOvKI￿9 grants for Sports, Functions and Amenity bids. The AFCFT One is Too Many is a restitted fvnd kvovided to enable suKide prevention ar#J the promotion of positive mental health UK-wide. The AFCFT Susta￿1ng Supwrt is a restficted fvrKI kYO¥Kled to fund n)enlal heatth Iherapy and FQSitive mentsl health promotion in Scotland. The AFCFT PosilNe Pathways is a restricted fijnd prowded to enable a group ￿sPite trip to NO￿aY for injured beneficiaries and their immediate faMil￿s. The negative fund wdl be made up by grant income in 2022. The AFCFT FOTCO For Change is a reslricled fund WOVKled to furMI the ex￿nSeS of volunteer welfare assistant from branches in the Northern Regi￿ of RMA SUPWINJ bene￿larIeS in the north of England. ROYAL IJARINES ASSOCIATION. THE ROYAL MARINES CHARITY K)TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 22. ANALYSIS OF CHARITABLE FUNDS IcontIn￿dI Analysls of furnl mo¥qments- prfor y Anaty*h of unrnthi¢t•d fund mobwn•nts Inve•tn*nt B•lanc• at r••owc•s expended Tran•fvYs galn91(10S8￿I 31.12.2020 01.01.2020 TRMC general fiJFKts LIBOR Fund Investment Fund National Museum of Ihe Royal Na¥y 6.671.888 537.423 1.815,fJ94 1.￿J0,([KI 1,ffi7.179 {4.CQ8203) 1.486.670 1527.4231 13.3131 (280.2381 5,447.096 173.S84 (381.044) {48.1461 1.556.775 1.C#)J,CQO Chartty tothl lo.024.&￿ 1.840,763 (4.479247) 945.934 {328,3841 8,003.871 Sub61dlaiies Royal Marines Slw Lwnited TRMC Enlery)rises Liiiled 139.376 460.499 {419.7701 11.5051 180.105 11,5051 Group Total 10.164.181 2W1262 (4.￿0.522) 945.934 {328,3B41 8.182.471 Anaty•l• ol rMtrl¢t•d fund ffloveme Inve•tsn•nt Balan¢• at ourcel •xp•n(kd Tr•n•f•fs galnsl{lossesl 31.12.2020 01.01.2020 Fwd RM Benevolent RM Cadet Fund RM Officers. Twsl Fund RM Central Swge8nts' Mess Fund RM Central Unit In5tilule Fwd CTCFC Homeport Magazine RMSA The Armed Forces Coven•rt Fund Trust-PositNe Pthays The Armed Fcff¢es Covenwt Fund Trust-FFC 2.376.874 132.844 1.(￿9.470 501,499 {1,169,618) {833) (33.834) 1171,145) {5.977) {50.9111 1.537,610 128.893 1,121,116 148.173 (11.782) 938.315 1291.0&8 832.7(15 3.687 161,178 291,fj￿ 113.018 (107,863) (97.337) 13.477) (29.455) 1155.1321 1942.2461 (3.687) 283.970 147.772) (57,861) 914,403 1.271,918 6.W24 (109.101) 1W.893 33,250 33.29) 19.(KfJ 19.C 6.644.951 1276.193 (1.$22.C63) 1878.332) 1333,e661 5,187.083 Subsldlarfes Royal Marir*8 Sp￿ts A55Ou￿￿ 67.802 I67.6￿) Group Totsl 6.712.553 1.276.193 {1.522.(￿) (945,9341 1333.666) 13.530,465 ROYAL MARINES ASSOCIATION- THE ROYAL MARINES CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 23. ANALYSIS OF GROUP NEf ASSETS BETWEEN FUNDS Unr•8trlct•d Fund8 2021 R88tri¢tod Fund8 2021 Total 2021 Intsngible fixed assets Tangible fixed assets Fixed asset investh￿nts Cash at bank and n hand Other net Current assetsl(liabilitres) Long term loan 225.539 538.733 7.184.927 1.520.761 185.940 (34.(￿7) 225.539 538.733 12.178.062 1.869.723 44.311 (34.0671 4,993.135 348.*2 (141.629) 9.621.833 5.200.468 14,822,301 23. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS Llnr•strict•d Fund6 2020 R•8trlcl•d Funds 2020 Totsl 2020 Intangible fixed assets Tangible fixed assets xad asset investhenls Cash at bank and in hand Other n8t current assetsl{liabilities) Other net current assetsl{liabilitiesl 107.762 557.302 6,537.168 1.2C6.095 {180.8￿) (45,000> 107,762 557,302 11,086,093 1,988,262 1324,8651 145,000) 4.548,925 782.167 (144,009) 8,182.471 5,187,083 13.369.554 X ULTINATE CONTROLLING PARTY During the year the charrtable company was under the control of Royal Navy and Royal Marlies Charity la registered charity incorporated in England and W*s. registered CoM￿Y number 6047294, registered charlty number 1117794 and aL*o a registered chanty in Scouand. chanty number SC041898). The ultimate controlling party is also the Royal Navy and Royal IAarines Chanty. Copies ofthe Royal Navy and Royal Marines Charity consolidated fina￿la1 can be obtwed from Building 29, HMS Excel￿1, Whale Island, PO[tsr￿Uth. P02 8ER. Advantsge is tsken of the FRS 102 exemptw)n perniitting intra group transacth)ns not to be dixlosed. RELATED PA￿ TrANSACTIONS During the year trustees donated £37.797 {2020: £22.51J)) to the chanty. The charity aL80 received a £109.000 {2020: £27.0001 donation from the Gbbe and Laurel magazine. an or￿lsa11cffi with common trustees. The charty received grants Irom The Royal Navy and Royal Marines Charity of £126,948, {2020.' £160.1571. ROYAL MARINES ASSOCIATION- THe ROYAL MARINES CHARITY NOTES TO TrIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 SUBSIDIARIES- Royal Marfnes Shop Lknlled The following is an extract of the finanr481 Statem￿ts of Royal Shop Limited for the year ended 31 Oecember 2021: 2021 2020 Income Expenditure 441.105 1434.7781 441,200 (382,513) Profit for year Gift-aid payment to RM4-TRMC 6.327 120.0001 58.687 Net movement in funds 113,6731 58,687 2021 2020 Fixed assets Current assets abilities 3.755 272,960 (110.2831 3,336 259,659 (82,890> Net assets 166.432 180,105 SUBSIOIARIES-TRMCE The following is an ex￿ of the finarKd statements of TRMC Enterprtses Limit&J for the period ended 31 December 2021.. 2021 2020 Income Ex￿ndItUre 211.503 (204.5501 739,544 1741,050) Net movement in fvnds 6.953 (1,506> 2021 2020 Current assets LIa￿'11t1es 74.331 168.8831 291,748 (293,253) Net assets (1,505) NET DEBT l January Cash Ilow• 31 Docember 2021 2021 Cash at bank Bank loan 1.988,263 (45.CN)J) (118,540) 10,933 1,869.723 {34,067) 1.943.263 (107,607) 1,903,790