2021-12-31-accounts

RepOrt ofthe	Trustee		t	to	4
IrXlependent	Examiner'S Repart
Statement Of	Financial	ftcdvldes
Balance Sheet
Notes to the Financial		Statements	8	to	t5
Detailed Statement of		Financial itcttvides		16

for the year ended 3	1December	2021
						2021	2020
				Unrestricted	Restncted	Total	Total
				Funds	Funds	Funds	funds
			Notes	I			I
INCOME AND ENDOWlilENTS		FROM
Donahons and legades			2	102,622	109,305	211,927	151,502
investment inrnme			3	11,016	9,7I52	20,778	20,475
Total				113,638	119,067	232,705	171,977
EXPENDITURE ON
Raising funds				145,101		145,101.	123,012
Charitable activiSes
Charitable activities				5,847	146,752	152,599	1,714
Total				150,948	146,752	297,700	124,726
Net gains on investments				30,450	27,01.7	57,467	27,427
NET INCOME/(EXPENDITURE)				(6,860)	(668)	(7,528)	74,678
RECONCILIATION	OF FUNDS
Total funds brought	forvrard			317,741	381,164	698,905	624,227
TOTAL FUNDS CARRIED FORWARD				310,881	380,496	691,377	698,905

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			31D,dll		091@fr	99)1909
					3)dddl
					1ltdrned	301.104
					C91372	69)t.d)9

2,	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES
	Donaaons received campnse:
				2021	2020
				I	I
	Funding received from other chantable		trusts and public entities:
	Nufneld Trust for Farces	of the Crawn		27,171	77,714
	BAE Systems			40,000
	Army Spans Conbal Board Chanty			30,000	30,000
	Drapers' Charitable Fund			25,000
	NacRabe it Fund			15,000
	Cadogan Chanties			10,0ljg
	Veterans Faun d at km			10,000
	RAF Charitable Trust			7,635	2,950
	Reserve Farces and Cadets Assaciations			3,000	7,000
	The Lord Farnngdon Trust			S,OIXI	5,000
	Gareth iveame Foundation			5,0IXI
	Westminster Foundation			5,000
	Avlatlan Facus			4,500
	Armourers and Braziers Conipariy			2,00lj
	Fishmongers Company			2,000
	Dyers Company			1,000
	pnnce ofWales Charitable	Funds		1,000
	Samarez Invesbnents/Nr	James Knob	Trust		7,000
	Clive and Sylvia Richards	Charity			5,000
	Other amounts received:
	Total donatians received	from private benefactors		17,012	13,538
	Gift aid			1,609	1,300
				211,927	151,502
3.	INVESTMENT INCOME
				2021	2020
	Bank deposit interest - General Fund (allocated)			12
	Dividends - BLKArmed Forces Chanties		Growth 8 Income Units	20,766	20,309
				20,778	20,475
4,	RAISING FUNDS
	Raising do nag one and	legacies
				2021	2020
	Staff costs			22,063	41,986
	Other fundraising cosh			2,857	3,267
	Consultancy			120,181	77,759
				1.45, 1.01	123,012

C14ARITABLE ACTIVITIES COSTS	C14ARITABLE ACTIVITIES COSTS	C14ARITABLE ACTIVITIES COSTS	C14ARITABLE ACTIVITIES COSTS
Chantable acbvrties casts composer
								2021	2020
Restinxed expenceturel
Granh paid and payable (net of			repayments):
Res envsts.
University Units (OTCs, I/RNVs, Qparaoonel unit (Reservlsts)			VA gouadrans)					13,212 87+72	4,290 26,430
Cadets.
Combined Cadet Force	(Navy)							7,145	1,600
Comb'ned Cadet Force Comtaned Cadet Force	(Army) (Av)							21,007 1,655	4,150 750
Army Cadet Farce								23,200
Air Trainirig Carpe								19,530	2,200
Torsi grants								173,021	39,420
Less: refunds received	in raspast		Of prier year		grants.
Ress rv is ts								(15,073)	(22,676)
Cadets								(11,196)	(22,400)
Tatal reslncted - net outlay/(gain)			On grant	rnafung				146,752	(5.656)
Unrastncbm e pendlture:
Admirustratlve expendaure.
Cost of meso ngs ONce mats								627 1,200	1,176 1.065
IT and sundry expenses								363	2.105
Governance.
Trustees' expenses								385	24
Independent examiner's	fees							3,272	3.000
Total unrestncted								5,847
Total chantable expenditure								152,599	1,714
Tre net tatal af granta Grants made	rrede above ncludev;							173.021	120,631
Grants underspanr/expeditianS		carlaeded/granta			returned,	induding	pnar years	(26,269)	(126,287)
Net (gain)/outlay on grant making								146,752	(5,656)

for t	he yxmr ended 31Dece	mbe	r 202	1
7,	STAFF COSTS
								2021	2020
								f
	Wages and salanes							21,420	38,035
	Sou el security costs								2,576
	Other pension costs								1,375
								22,063	41,986
	The average monthly	number		of	employees		dunng the year was as follows:
								2021	2020
	Fund raising							1	1
	No employees receivetl		emoluments			in excess of 660,000.
	The average number	of	Full Time		Equivalent		staff was 1(2020: L2).
	COMPARATIVES FOR		THE STATEMENT				OF FINANCIAL ACTIVITIES
							Unrestricted	Re sbicted	Total
							Funds F.	fundsI	Funds E
	INCOME AND ENDOWMENTS				FROM
	Donations and legacies						40,838	110,664	151,502
	investment income						10,895	9,S80	20,475
	Total						51,733	120,244	171,977
	EXPENDITURE ON
	Ramng funds						123,012		123,012
	Charitable activk isa
	Charitable activi tres						7,370	(5,656)	1,714
	Total						130,382	(5,656)	124,726
	Net gains on investments						14,S33	12,894	27,427
	NET INCOMEri(EXPENDITURE)						(64,1(6)	138,794	74,678
	Transfers bubnnmn	funds					25,585	(25,585)
	Nut movement in funds						(38,531)	113,209	74,678
	RECONCILIATION	OF	FUNDS
	Total funds brought f		inward				356,272	267,955	624,227
	TOTAL FUNDS CARRIED FORWARD						317,741	381,164	698,905

												Listed
												investments
												6
	atARKET v4LUE
	At 1 Zanuary	2021										597,386
	Revaluations											57,466
	At 31December		2021									654,852
	NET BOOK	V4LUE
	At 31December		2021									654,852
	At 31December		2020									597,386
	There were no investment						assets Outside the	UK.
	Cost or valuation			at 31		December 2021 is represented				by:
												Listed
												inveat ments
												E
	Valuauon in 2021											654,852
	Investments	at the end				of the year are attributable			as	follows:
											2021	2I020
											E	E
	Future Development				Fund		(Designated)				346,986	316,537
	Army Cadet Long-Term					Fund (Restricted)					307,866	Z80,849
	Total										654,852	597,386
1g,	DEBTORS:AMOUNTS					FALLTNG DUE WXT14TN			ONE YE4R
											2021	202ij
											E	E
	Other debtors										16,690	2,975
	Prepayments	and		accrued			in~orna				5,224	5,094
											21,914	8,069
	l3ebtors at the end			of the year are attributable				as follows:
											2021	2020
											E	E
	Unrestricted:										4,706	2,724
	Restncted:
	Cadets										16,403	5,345
	Ress rvi st s										2,460
	Total										23,569	8,069

									2021	2020
									E	E
	Restricted:
	Cadets								98,911	34,000
	Nufffetd	Trust							56,720	95,640
	Total								155,631	129,640
12.	CREDITORS'.AMOUNTS					FALLHtO DUE T8ITHIN ONE YEAR
									2021	2020
									E
	Odier creditors								141,D20	36,190
	Creditors at the end			of	the year are allributable		as follower
									202i.	2020
	Unrestricted								40,810	1,520
	Restricted:
	Cadets								52,460
	Nuffield	Trust							47,750	25,970
									100,21D	34,670
	Total								141,020	36,190
13.	atotiEMENT IN FUNDs
								Net	Transfers
								movement	bet.ween	At
							At 1.1.21	in funds	funds	31.12.21
							E		E
	Unrestrfcted		funda
	General	Reserve Fund					1,204	(48,312)	11,003	(36,105)
	I'u tore Development			Fund			316,537	41,452	(11,003)	346,986
							317,741	(62I60)		310,881
	Restrtct	ed funds
	Army Cadet Long-Term				Fund		280,849	27,017		307,866
	Cadet Reaerve		Fund				30,644	30,556		61,2DD
	Nufdefd	Tmst for Armed			Forces ofthe
	Crown						6cl,671	(58,241)		11,43D
							381,164	(668)		380,496
	TOTAL	FUNDS					698,905	(7,528)		691,377

sIOVBSEM' IN FtlND	sIOVBSEM' IN FtlND	s ~cont	in	ued
Net movement in fvnds,		indvded		in the above are as follows:
				Incoming	Resovress	Gains and	)lavement
				re sov ress	expended	losses	in funds
					I	E	I
Unrestricted funds
General Reserve Fund Fumre Development Fvnd				102,636 11,0D2	(150,948)	30,'!50	(48,31.2) 41,452
Itestricted funds				113,638	(150,948)	30,45D	(6,860)
Army Cadet Long-Term		Fund		9,763	(9,763)	27,017	27,017
Cadet Reserve Fund				7D,000	(39,444)		30,556
Nuffiekl Trust for Armed		Farces	of the
Crown				27,169	(85,410)		(58,241)
Arr Cadet Fund				12,135	(12,135)
				119,067	(146,752)	27,017	(668)
TOTAL FUNDS				232,705	(297,700)	57,467	(7,528)
Comparatives for movement			ln funds
					Net	Transfers
					movement	bebveen	Al.
				At 1.1.20	in funds	lunds	31.12.20
				E	E	E
Unrestricted funds
General Reserve Fund				54,268	(89,459)	36,395	1,204
Future Development	Fund			3D2,004	25,343	(10,810)	316,537
				356,272	(64,116)	25,585	317,741
Restricted funds
Army Cadet Lang-Tenn		Fund		267,955	18,323	(5,429)	280.849
Cadet Reserve Fund					50,801	(20,156)	30,645
Nuffiekl Trust far Armed		Forcea Ol		the
Crown					69,670		69,670
				267,955	138,794	(25,585)	381,164
TOTAL FUltDS				624,227	74,678		698,905

MOIF8S4ENT EN FUNDS -	MOIF8S4ENT EN FUNDS -	MOIF8S4ENT EN FUNDS -	condoned
Comparative net movement			in funds, induded	in the above are as follows:
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in Funds
				E		E	E
Unrestricted funds
General Resene Fund				40,923	(130,382)		(89,459)
Future Development	Fund			10,810		14,533	25,343
				51,733	(130,382)	14,533	(64,116)
Restricted furids
Army Cadet Long-Term		Fund		9,579	(4,150)	12,894	18,323
Cadet Reserve Fund				30,001	20,800		50,801
Ifaft)eld Trust for Armed		Farces afthe
Crown				77,714	(8,044)		69,670
Air Cadet Fund				2,950	(2,950)
				120,244	5,656	12,894	138,794
TOTAL FUNDS				171,977	(124,726)	27,427	74,678

for the year ended 31	Decem	ber 2021
				2021I	2020
INCOME AND ENDOlrtiMENTS
Donatlous and legacies
Donations				210,318	150,202
Gig aid					1,300
				211,927	151,502
Invas tnt ant fn carne
Bank depout iriterest - General Fund (allocated)				12	86
Dividenda - BLK Armed	Fnroea Charinea		GrOwth 8
income Units				20,766	20,389
				20,778	20,475
Total incoming resources				232,705	171,977
Raising donatlone and legacies
Wages				21,420	38,035
Social security					2,576
Pensions				643	1,375
Other fundraising costs				2,857	3,267
Consultancy				120,181	77,759
				145,101	123,012
Cbarltable activities
Costs ol' meetings				628	1,176
Office costs				1,200	1,065
IT and sundry expenses				363	2,105
Grants made				173,021	120,631
Grants underspent/expedoons		cancelled		(26,270)	(126,287)
				148,942	(1,310)
Governance costs
Tmsrees' ex pe nasa				385	24
Accauntanoy and legal	fees			3,272	3,000
				3,657	3,024
TOtal reanurCeS expended				297,700	124,726
Net (expenditure)/income		before gains and
losses				(64,995)	47,25I
Realised recognised gains and fosses
Unreallsed gains/(lasses)	on fixed asset
invesunents				57,467	27,427
Net (expenditure)/income				(7,528)	74,678