## ## |Trustees||||Major General JSKerr CBE|Major General JSKerr CBE|Major General JSKerr CBE|Major General JSKerr CBE|| |---|---|---|---|---|---|---|---|---| |||||Bdgadier
M JWharmby|||OBE|| |||||Lieutenant
Colonel|N|A Smith||| |||||Lieutenant
Colonel|A|Monk||| |||||Colonel J Fielden|LVO MBE|||| |||||Colonel JWest ADC||||| |Charity|number|||1172831||||| |Senior Management|||Personnel|||||| |||||Lieutenant
Colonel|(Retired) Stephen Ahmed|||Yafai (Regimental| |||||Secretary)||||| |||||Lieutenant
Colonel|(Retired) lan Geoffrey Stark (Regimental|||| |||||Treasurer)||||| |Registered||address||Regimental
Headquarters||||| |||||The Royal
Logistics Corps,||||| |||||Building 204, Worthy||Down Camp||| |||||Wincheter||||| |||||Hampshire||||| |||||SO21 2RG||||| |Auditor||||Moore (South) LLP||||| |||||33The Clarendon|Centre|||| |||||Salisbury
Business|Park|||| |||||Dairy Meadow Lane||||| |||||Salisbury||||| |||||Wiltshire||||| |||||SP1 2TJ||||| |Bankers||||Holt's Military Banking||||| |||||Lawrie House||||| |||||Victoria Road||||| |||||Farnborough||||| |||||Hampshire||||| |||||GU14 7NR||||| |Solicitors||||Clifton Ingram
LLP||||| |||||11 South Street||||| |||||Farnham||||| |||||Surrey||||| |||||GU9 7QX||||| |Investment||advisors||Armed Forces Charities|||Growth & Investment|Fund| |||||(Managed
by Blackrock)||||| |||||12ThrogmortonAvenue||||| |||||London||||| |||||EC2N 2DL||||| ## ## ## ## |||Page| |---|---|---| |Trustees report||1-7| |Independent
auditor's|report|8-11| |Statement offinancial|activities|12| |Balance sheet||| |Statement ofcash flows||14| |Notes to the financial|statements|15-27| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---|---|---| |||||funds|funds||funds|funds|| ||||Notes|2020
f|2020||2019f|2019f|2019
F| |Income from:|||||||||| |Donations and legacies
Other trading
activities
Investments|||3
4
5|378,166
20,994
88,825|2,816|378,166
20,994
91,641|375,000
50,267
157,366|2,706|375,000
50,267
160,072| |Total income||||487,985|2,816|490,801|582,633|2,706|585,339| |~ddiit|||||||||| |Raising funds|||6|33,047||33,047|56,051||56,051| |Charitable
activities|||7|1,449,251||1,449,251|849,561||849,561| |Total resources|expended|||1,482,298||1,482,298|905,612||905,612| |Net gains/(losses)||on|||||||| |investments|||11|(397,473)|4,450|(393,023)|493,125|9,946|503,071| |Net movement|in funds|||(1,391,786)|7,266|(1,384,520)|170,146|12,652|182,798| |Fund balances at||1 January|||||||| |2020||||3,558,379|103,872|3,662,251|3,388,233|91,220|3,479,453| |Fund balances|at 31||||||||| |December 2020||||2,166,593|111,138|2,277,731|3,558,379|103,872|3,662,251| ## ## ## |Fixed assets||||||| |---|---|---|---|---|---|---| |Terhtfsfe esvele
Hergage asss!s||||9,8'lO
21,080||10,745
2'l,080| |Investments||||1,688,424||3,459,157| |Current assels||||1,71S,314||3,490,982| |Stocks||18|24,975||27,420|| |Debtors||17||||| |Cash at bank and in|hand||628,856||175,937|| ||||651,631||204,303|| |Crud(terat
amounts|faglng due within|||||| |one year|||(93.414)||(33,034}|| |Net current assets||||55S,417||171,269| |Total assets less cunent ttabiTdfes||||2277,731||3,662,251| |income funds||||||| |iten(doted funds||||111,13S||103,872| |UmnatffotgtUOM||||||| |Dmignahd
funds|||||1,908,302|| |General unrestdcted|funds||2,166,593||1,650,077|| |||||2,168,593||3,55S,379| |||||2,277,731||3,662251| ## ## ## |||||2020|2019|| |---|---|---|---|---|---|---| ||||Notes|6|f|| |Cash flows from operating||activities||||| |Cash absorbed
by operations|||23|(1,018,055)||(464,431)| |investing|activities|||||| |Purchase|oftangible fixed assets|||(377)|(11,891)|| |Purchase|of investments|||(91,525)|(159,803)|| |Proceeds|on disposal of investments|||1,469,234|550,000|| |Investment|income received|||91,642|160,072|| |Net cash|generated
from|investing||||| |activities||||1,468,974||538,378| |Net cash|used in financing|activities||||| |Net increase
in cash and cash equivalents||||450,919||73,947| |Cash and|cash equivalents|at beginning|ofyear|175,937||101,990| |Cash and|cash equivalents|at end of|year|626,856||175,937| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Unrestricted| |---|---|---|---| |||funds|funds| |||2020|2019| |||6|5| |Donations and gifts
Grants receivable
for core activities||9,979
368,187|9,894
365,106| |||378,166|375,000| |Grants receivable for core activities|||| |The RLCAssociation
Trust Fund Annual
The RLCAssociation
Fund Shop Grant
Grant
in Aid - Ogilby Trust
MOD funded staff and premises costs
Other|Grant|90,000
10,000
88,828
179,359|90,000
10,000
85,747
179,359| |||368,187|365,106| ## |||Unrestricted|Unrestricted| |---|---|---|---| |||funds|funds| |||2020|2019| ||||5| |Shop|income|20,994|50,267| ## ## ## ||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| ||funds|funds||funds|funds|| ||2020|2020|2020|2019|2019|2019| ||6|6||6|F|6| |Income from listed||||||| |investments|88,709|2,816|91,525|157,097|2,706|159,803| |Interest receivable|116||116|269||269| ||88,825|2,816|91,641|157,366|2,706|160,072| ## ||Unrestricted|Unrestricted| |---|---|---| ||funds|funds| ||2020|2019| ||6|| |S~hE«dit||| |Cost ofSales|9,603|39,800| |Postage||1,149| |Other expenditure|1,360|544| |Staffcosts|22,084|13,283| |Support costs||1,275| |Shop Expenditure|33,047|56,051| ||33,047|56,051| ## ## ## ## |||||Charitable|Charitable| |---|---|---|---|---|---| |||||Expenditure|Expenditure| |||||Heading
1|Heading
1| |||||2020|2019| |||||6|E| |Staffcosts||||279,358|271,848| |Depreciation|and|impairment||1,312|| |Rent, Rates|and|Utilities||47,764|47,764| |Conservation||||14,320|11,179| |Maintenance||||1,928|7,971| |Collections||||10,009|4,961| |Reference||||47|38| |Postage||||34|541| |IT||||17,862|378| |Insurance|||||3,727| |Security|||||1,367| |Stationery||||930|379| |Telephone||||1,799|1,718| |Travel||||1,357|3,545| |Printing 8Advertising|||||473| |Professional|Fees and Subscriptions|||264|1,834| |Training||||240|862| |Other charitable||expenditure||1,061,974|478,749| |||||1,439,198|837,334| |Share ofsupport||costs (see note 8)|||1,584| |Share ofgovernance|||costs (see note 8)|10,053|10,643| |||||1,449,251|849,561| ## ## ## |Support|costs||||||| |---|---|---|---|---|---|---|---| |||Support
costs|Governance
costs|2020|Support
costs|Governance
costs|2019| |||6|6||f|5|8| |Depreciation|||||1,584||1,584| |Audit fees
Accountancy|||6,800
3,000|6,800
3,000||8,055
3,000|8,055
3,000| |Meetings|||253|253||863|863| ||||10,053|10,053|1,584|11,918|13,502| |Analysed|between||||||| |Trading
Charitable|activities||10,053|10,053|1,584|1,275
10,643|1,275
12,227| ||||10,053|10,053|1,584|11,918|13,502| ## ## |The average|monthly
number ofemployees
during
t|he year was:|| |---|---|---|---| |||2020|2019| |||Number|Number| |Museum|||| |Shop|||| |Adminstration|||| |Total|||| |Employment|costs|2020|2019| |||E|| |Wages and|salaries|301,442|285,131| ## ## ## ||||Unrestricted|Unrestricted|Restricted|Total|Unrestdcted|Restricted|Restricted|Total| |---|---|---|---|---|---|---|---|---|---|---| |||||funds|funds||funds||funds|| |||||2020f|2020
6|2020
8|2019
f||2019
6|2019| ||Revaluation|of||||||||| ||investments|||(397,473)|4,450|(393,023)|493,125||9,946|503,071| |12|Tangible fixed assets|||||||||| |||||||||Computer|and other|equipment| |||||||||||6| ||Cost|||||||||| ||At 1 January|2020||||||||33,018| ||Additions|||||||||377| ||At 31 December 2020|||||||||33,395| ||Depreciation|and impairment||||||||| ||At 1 January|2020||||||||22,273| ||Depreciation|charged|in the year|||||||1,312| ||At 31 December 2020|||||||||23,585| ||Carrying
amount|||||||||| ||At 31 December 2020|||||||||9,810| ||At 31 December 2019|||||||||10,745| |13|Heritage assets|||||||||| |||||||||||Heritage| |||||||||||assets| |||||||||||8| ||At 1January|2020 and at 31||December|2020|||||21,080| ## ## ||||||Listed|Listed|Listed|Total| |---|---|---|---|---|---|---|---|---| ||||||investments:|investments:|investments:|| ||||||MDF M&G|Museum|Museum|| |||||||Development||| |||||||Fund||| ||Cost orvaluation|||||||| ||At 1 January 2020||||1,908,302|1,468,943|81,912|3,459,157| ||Additions||||38,208|50,501|2,816|91,525| ||Valuation||changes||(477,276)|79,802|4,450|(393,024)| ||Disposals||||(1,469,234)|||(1,469,234)| ||At 31 December 2020|||||1,599,246|89,178|1,688,424| ||Carrying||amount|||||| ||At 31 December 2020|||||1,599,246|89,178|1,688,424| ||At 1 January 2019||||1,908,302|1,468,943|81,912|3,459,157| |15|Financial||instruments||||2020|2019| ||||||||6|6| ||Carrying|amount offinancial assets||||||| ||Instruments||measured|at fair value through|profit or loss||1,688,424|3,459,157| |16|Stocks|||||||| ||||||||2020|2019| ||||||||6|6| ||Finished|goods and goods for resale|||||24,975|27,420| |17|Debtors|||||||| ||||||||2020|2019| ||Amounts||falling due|within one year:|||6|| ||Trade debtors|||||||946| ## ## ## |18|Creditors: amounts|falling due within one year||| |---|---|---|---|---| ||||2020|2019f| ||Trade creditors||2,253|45| ||Other creditors||91,161|32,989| ||||93,414|33,034| ## ||||Movement|in funds|||Movement|in funds|| |---|---|---|---|---|---|---|---|---|---| |||Balance at|Incoming|Revaluations,|Balance at||incoming|Revaluations,|Balance at| ||1|January 2019|resources|gains and1|January|2020|resources|gains and|31December| |||||losses||||losses|2020| ||||6|6||||f|6| |Other|||||||||| |restricted||91,220|2,706|9,946|103,872||2,816|4,450|111,138| |||||Nal
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I- ecO| ## ## |21|Analysis ofnet assets|between funds|||||| |---|---|---|---|---|---|---|---| |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |||funds|funds||funds|funds|| |||2020|2020|2020|2019|2019|2019| |||E|E|E|E|F|E| ||Fund balances at 31||||||| ||December 2020 are||||||| ||represented
by:||||||| ||Tangible assets|9,810||9,810|10,745||10,745| ||Heritage assets||21,080|21,080||21,080|21,080| ||Investments|1,599,246|89,178|1,688,424|3,377,245|81,912|3,459,157| ||Current assets/||||||| ||(liabilities)|557,537|880|558,417|170,389|880|171,269| |||2,166,593|111,138|2,277,731|3,558,379|103,872|3,662,251| ## ## ||The Royal
Logistics Corps Association|The Royal
Logistics Corps Association|Trust
Fund shares|Trust
Fund shares|Trust
Fund shares|key||management|management|and two Trustees|and two Trustees|and two Trustees|with
this|with
this| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Trust.
During
the year the Trust|received||a F100,000 donation||||and|E109,650 contribution|||towards
the||| ||medal
collection
from The Royal
Logistics
Corps Association
E59,856(2019 - 20,646)to The Royal Logistics Corps Association||||||Trust.
Trust.||At the|year end,|the|Trust||owed| |23|Cash generated
from operations|||||||||2020||||2019| |||||||||||||||F| ||(Deficit)/surpus
for the year|||||||||(1,384,520)|||182,798|| ||Adjustments
for:|||||||||||||| ||Investment
income recognised
in statement|||offinancial|activities|||||(91,641)|||(160,072)|| ||Fair value gains and losses on investments|||||||||393,023|||(503,071)|| ||Depreciation
and impairment
oftangible||fixed assets|||||||1,312||||1,584| ||Movements
in working
capital:|||||||||||||| ||Decrease
in stocks|||||||||2,445||||5,805| ||Decrease/(increase)
in debtors|||||||||946||||(553)| ||Increase
in creditors|||||||||60,380||||9,078| ||Cash absorbed
by operations|||||||||(1,018,055)|||(464,431)|| |24|Analysis ofchanges
in net funds|||||||||||||| ||The trust had no debt during the year.||||||||||||||