cha1￿Y numbor: 1177059
Tho Morclan Reglmgntal Charlty
TTustses' raport and financial statements
For th8 year ended 31 March 2021
rfIDAINS
ACCOUNTAWTS

The mo￿l8n Rgglm•Thtsl Ch•rlty
Contents
Roforonv and adrnlnlstratl￿ detalls of th• Clo, It$ Tru*tg•s •nd adVI￿r¥
Tw8tg•6' rnport
Indopendont examlnof8 rnport
Sl•t•m•nt of flnJncl•l aotlvltlo¥
Bal•n¢o shoot
Not•B to th• flnanclal 8tat•m•nts
10-24

The Merclan R•glm•ntal Charlty
Referen￿ and admlnlstratlvg dots11s.of thè CIO, Its Tiu8t¢o8 and advlaern
Forlho yoar gndgd 31 M'arch 2021
TNstso$
Lt Gen I Cave C8, Chalrman and Colon81 of the R8gim8nl
Brlg S 8anlon OBE, Deputy Colono1 Hermage
Brig S B811 QVRM, Deputy Co1￿81 RRCM
Brig P Kimber OBE, Deputy Colonel Flnance
Col A Walton MBE
Ll Col N Kelly OBE. C01 Marcian Ifeslgned 8 September 20201
Lt Col M Davls, C02 Mercian Ireslgn8d 8 August 2020)
Lt Col F Cutlle MBE. C04 Merdan Ire8ignod 9 November 2020)
Lt Col (Reld) M Jack50n OBE
Lt Col IR81d) N IAa¢kinto8h
Lt Col R Spalton, C04 Merclan {appolnlad 9 November 20201
Lt Col D Canham OBÉ. C01 Merclan18ppolnted 8 S8ptsmber 2020)
Lt Col R Grover MBE, C02 Merclan {appointsd 8 August 20201
Mr M Elliott
Charlty rgglst•r•d
number
1177059
Prlnclpal offl
Rggimanlal Headquarter8
The Mercian R8giment
Whittington Barracks
Llchfield
Stsffordshfjre
WS14 9TJ
Flnanclal socretsry
Mrs P Mear
Accountant•
Dalns LLP
15 Colmore Row
Blmiingham
B3 2BH
B•nkgrn
Uoyd8 Bank plc
22 Condtsit Street
Lichfield
WS13 6JS
CAF Bank
25 lQngs Hill Avenue
West Mallin9
ME19 4JQ
Ror418ank of Scotland
200 FO￿er Avenue
Farnborough
GU14 7JP
InV￿t￿ont Managors
Invostec Wealth 8nd Invesknent
30 Grasham Street
London
EC2V 7QN
Page 1

The Morolan R8glm•ntal Charlty
TruBtses' Toport
For the y•ar •nd•d 31 Mar¢h 2021
The Trustees present Ihelr annual report together with tha fin8nc4al stalements of the CIO for th8 y8or 1 Apr41
2020 to 31 March 2021.
Obj•ctlv•s and aetlvltlo•
. ObJ•ctlvo8 and alms
The prSnclp81 oblectlves of the The Mercian R8gimentsl Chadty are..
Promot8 the efflclency of th6 Reglm8nL
Preserve m8moria15 and chap8ls of th8 Reglment and the fomer Regiments. in¢ludlng pre8erv8tbn In
perpetU￿Y of the Crlch Memori81 ond its grounds.
Make grant8 to any othgr charfty or organlsallon lor the beneflt of the Raglment or former Reglments.
Provide for the upkeep and maintonance of any museum of or related lo the R8gimenl or fomer
Regimènts and their contents and In acquirlng new exhiblt8.
Provide for tho pr8s8rvation, repalr, malntenance, replac8menl. safe custody and exhlbluon of chattels,
trophles and mèmorials ofthg Regiment and the ffmer Regiments.
Prow(Je for th8 compilation and reproductlon by prlntlng. photoJr8phlng, or olheNlse of record8. hlstories
and documents of Ihg RegSment and f(vmer Regim8nl8, Inchjdlng th'8 oxpen8es of a Reglm6ntal Journgl.
newsletter and website.
Maintalnlng and preseMng the trad6tlon8 and splrm of the Reglment and the fornier Reglmenl8 and
maintaining communi¢oth)n tsetween pa81 and present membars of the Reglm8nl 8nd fomier Reglments.
In 8ettlng obl8ctlv68 and pianning for activ4tl8s, the Tru8tett h8vè given due conslderall¢)n to general guidan¢e .
publlshed by the Charfty Commission relatSng to publlc benofil. Includlng th8 guidance 'Public benefit: running
charlty IPB21'.
b. Maln •¢tlVlt1￿ undertaken to furtherthe CIO'J purposu for tho publlc ben•fft
The main acliwtlgs of the charlty to furthér its charitable puTp0898 for the publlc baneflt hav8 b98n undertaken In
thè following arwJ by:
Provldlng orants for the aflici8ncy of the Re9lment, ond lo any other Regimental Charity of the Reglmenl,
for the benef￿ of the Reglment or the formgr Rgglments.
Funding the malntenance and upkeep of the m8morio18 and chape18 of the Regiment. and its fomier
reglments, Including th8 The Crich Memorial.
Funding the malntsnance and proservalion of the chatte18 of the Regimant and the formgr reglments.
Servlng Members of tha Mer¢ian Regiment are entllled to appty for grants towards Adventure tralnlNJ,
sport and equlpment.
Oals Pay 8cheme p￿sentationS are given through0￿ the year lo all serving mombgrs of Ihe Merclan
Reglmenl to keep them informed of the b8n8flts of donatlng to their Regim8nlal Charllios.
Fundlng 8UPPDrt 18 also gwen to kay Rgglmontal Event8, Includlng Remgmbrancg and Freedom Parade8.
Page 2

Th• M•rci•n R•glmental Charfty
Trn8tees' rnport {contlnued)
For th• year •ndod 31 March 2021
Achl•vwnonts and pgrft>miancg
. Rèvlow of •¢tlvltl•s ol thg CIO
The largg8t portlon of income for The Mercian Regimentsl Charlty Is monthly conlribulions made by semng
members of The Merclan Reglmenl under a salary sacrifice scheme called th& Da￿8 Pay Schame. Reservists
lolned the scheme In April 2018. The income is paid to. thè Reglmenlal Chaflty and 51% 18 translerred to The
Merclan Benevolent Charity. The Regimental Charity's. share thls financial year wa8 £47,734 balng o sllght
Incre88a from the prevlous financi81 year12019'. £45,330.. 2020: £45,756).
Thg Trusle8s appToved and paid for the Comm(￿we81th War Graves to renovate an antecedent Memo￿81,
known as Gheluvell last ffinanclal y88r. Further lundralsing was carripd out by Ihe Mercl8n Reglment Museum
to enhance thg Gheluvell Mèmorlal which wa8 completed and unveiled In tlmg for R8m6mbrance Day.
Du8 to the pandgmlo many 9vents for h05ting and fundra181ng had to be poslpon8d. 11 was necessary for the
Trustees to re-ovaluale the budget to plan for a unique financ581 year. The Regimental ¢h8rity shop d08ed for a
short period, when restrictions eased Ihe shop rgopened enabling parcals to be sent out.
Crkh
The m6morial garden al Crlch was completed last fin8nGial year. 88cau88 of the pandemlc p¢8ns for the garden
hgvg been d61ayed, as ha8 the offlcSal opgnlng. 11 was also n8c88sary lo canc81 the annual pllgrimagg for the
second y6ar.
' b. lTrv•stm•nt policy and perfomian
An Invoslment strate9y for th8 Charfty was approved by the Trust88s. recugnising the long-term natur8 of the
Charlty and ils obligations. The oblecuve Is lo grow tho incom8 and reserves of the Charty ￿118 havlng
sufficient liquidty to meet foreseealile need8 in Ihg Short t8mi.
Inveslec We81th and Investment was ap￿inted Investm8nt Manager In August 2012. The inlan￿On Is that
Investments VAII b8 In a mulu asset in¢om8 Portfollo spread across a number of collectTrve inve8tmenl vohidas
and as8et cla888s.
Flnanclal t•vl•w
. Golng COn￿M
After makSng approprlatO onquirigs. the Trustees have a roasonable gxpactation that the CIO has adequate
rosources to continue In op8rat4onal existence for the for88eeable futur8. For this reason. they contlnu8 to adopt
the going concem bas18 in preparing the finandal ststoments.
Page 3

Th• Mgrclan Rgglm9ntsl ¢harlty
TrnIt￿. r•port {continu•dl
For the yeor ended 31 March 2021
Flnanolal revlow (contlnuod)
b. R•8orv•s pollcy
The free re8erve8 of th6 CIO lotsllad £91,535 at Ihe balance 8he8t date12020- £73,414).
The capltsl a88ets {minus the Bond FurKI) of Morctan Regimgntal Charlty assets represented ￿￿thIn thé 8868ts
sh811 not fall be'low £1.75m.
If that level Is breached at any Ilm8, 8xp8ndllurg Shall be rgduced 80 that no further cash Is drawn down to
make up any deficit of exper￿ltUre over incorne. Inslgad all Income generated by the r8malnlng capltal Bhall b
re-lnvested unl51 the reserve level of £1.75m has b$en r8slor8d.
Crlch Re8lrlcted Fund wlthln Merclan Roglmgntal Charlty
The capllal value of the Crich Fund shall not fall bglow £300,000. If Ihal 18vel is breach8d at any time. the
trustees wlll rèview and reduce expenditure andlor cause a lund.rai8ing campaign to ￿ launchéd andlor
Iran81er capltal from Mercl8n Reglmentsl Charity.
c. Prlnclpal fundlng
The princlp818OL¢rce8 of fundlng for the Merclan Reglmentsl Charlty h88 been through th8 rec8lpt of income
through Ihg salary Sacrifi'ce Scheme from serving m8mbers of lh9 M8rc48n Reglment. Th8 Charfty recelv
Ir￿Me from thg Investment Fortfolk) quarterly.
The Charfly would normally recefve Income from 8ervihg members of the Merclan Reglment who lundraise by
gmbarklng on varlous 8porUng ev8nts during th6 ftnanctol y9ar lo achleve Income bul th8 pandemlc hamper&
not only unil moves, bul fundraisi￿.
The Charlty enrolled In the 8m8zon 8mll8 charity giving and hop8s to rac8lve a small dlvKlend annually.
Tho restdcted fund Crich Memorial Fund has benefitted from fundralslng Income vthere th8 org8nlser split the
proceeds between the Mercian Benevolent Charily and Crtch. The Memorial FurKI a180 r8c8ive$ some
donatlon8 from the general publlc. diredy into the charity bank account.
Pago 4

Thg Mgrclan Rgglmgntsl ¢har5ty
Tru8t88s' roport (oonllnuod)
For tho yoar ond•d 31 March 2021
Structure, govern•nce and man#g•mgnt
Con•tithtlon
Oeclaratlon8 of Trust In rdatlon to The Merclan Reglmentsl Charfty 8nd Thè Mercl8n Regiment Bènevolent
Charlly (The Ch8rlll88"I were made on 7th December 2006 gnd these were se8led by the Charlty Commls810
on 23rd January 2007. .Th8 charillgs were r8glstered as Ilnk8d charltlgs wlth Ih8.Charlty R8gislratlon No.
1117653. The Trust8es elethd to separalgly register The Mercian Rg9lmgnl 8engvolent Charity with effeGI
from 1st April 2008, the Charity Commission agr88d to this requ88t.
The chariues weTg cfealed In antlcip8llors of the formatlon of the Merclan Reglment on 21st August 2007 by the
merger of the 22nd Icheshlrel Reglmenl, The Worcester and Sherwood Forester8 Regiment afid The
staffordshlre Reglmgnl {The Prlnce of Wales's) together wllh elements of the Wesl Mldlands RoglmenL 8
Terrltorlal Am)y unlt. All three regular amy reglments wofked together to cre8te the Mercian Reglmenl ch8rilles
and agr88d that on the fomatlon of th8 new Ragimenl they would transfer thelr ch8rf1able as8818 and
r88pon8ibillt88 to th8 Charftia8.
The Trustoes agr88d lo transfer The Mercian Regimental Charity (charity numb8r 11176531 trust lo a charitable
inenrporaled organisation ICIOI. The Mercian Regirnental Charity {charity number 11770591 CIO was reg15t8red
vAth Ihg Charity Cornmlsslon on 8th Fgbruary 2018.
b. M8thods of appolntmant or ohetlon of Tru•t•o8
Th8 conslllutlon of the CIO, dated 8th February 2018. started wllh 15 Iruslees and states tha composit￿n of the
Councll beSng'. The Colon81 of the R89iment. Deputy Colong18 of the Rggimenl - (Heritage, RRCM. Financ8 &
Benevolenc81, Commandlng Officers, non-executive mgmbgr, plus non-voting mgmbars a secretary and
trea$urgr. The trustegs ore recordod in th8 rggisler of m8mb8rs.
c. Pollclos adopted for thg Inductlon and tralnlng of Trust90$
Th8 constilutlon stales that oach new thallty truslaes WIN b8 provided a copy of the current con8tltutlon and
copy of the CIO'S lat881 Iru8ts88 report and 8talement of accounts.
Selected tru8ts68 and staff attend 8emlnar8 ￿ganI88d by the charW8 fund managers that Indude govgrnanoe
and invostment.
d. Organ181tlofial structurn
Th8 trustees,. all of thom are members of the Councll of the Merclan Regiment, mo8t biannually. There are
apprOp￿ats 8ubcommittees comprL8ing of members where at 18881 iwo of them ore members of the Councll.
The Bubcommittee$ have clearfy dellned written lem18 of reference deallng wlth such w8ttws as Hgritag9.
RRCM. Finance and Assoclalion3', committee reports ara provlded lo the Coundl.
D8tai1gd annual budg8ts aro prepared and submiited to thè Councll for approval, aclual income and exp8nditur8
15 compared with budgel forecasts. The 8ubc(>mmltte68 meat 81 leail twi¢e 8 year, over8eelng all aspects of the
mana9gment of the financ95.
. Flnanclal rlsk manag•m&nt
The Trustees have 8 duty to Idenufy and rovlew th8.r18k8 to whlch Iho charlty Is gXP059d and to ensure
approprlBte controls ar8 in place to provide rea80nable a58urance agaln81 fraud and error. FSnancial accounting
by the Finance Officer is supervl8ed by the Chalmian of the Flnance Commi1189. The Charity èmploys
communications officer in it8 Lichfield HQ. Charty also employs a warden at th8 Crich memori81 who Is
provld8d accommodation.
Pagg 5

Th• M•rclan Reglrn•ntal Charity
Twstse8' report {¢ontlnued}
For the y•ar •ndèd 31 March 2021
Plans for fvture porlods
Presentations about th8 Merclan charltlos and salary sacrillce scheme are ptanned In the new flnanclal year, for
serving personnel lo Inform them of what18 avallable ty) them and how they can donate to Ihelr charty.
Chattel•
These are Com￿Sed of Regimen181 trophies. plGtur9s and sl1vo￿are. much of whlch w9rg g11ts and whosg Cost
Is not 8SCOrta5noblg. Each month a section of chattgls ar8 checked and annually a full inspecbon is carrigd out:
A n8w improvad systam is being investigated for presentation to the Trustees for their consideration.
8t8tgment of Trustgos. rnspanslbllltlgl
The TnJslee3 are respansible for preparin9 the Trustees, rèport and the fin8n¢i81 statements in accord8nce with
opplicable law and United Kingdom kcounling Stsndards (Unitsd lQngdom Generally Accepted AGwunting
Practka}.
Tha 18w applic8ble to ch8ri1ies In England & Wal88 requlres the Tru8t888 to prepare financlal slatemants for
aach financial year whlch glve 8 true and falr vlèw of the 8tste of affalrs of the CIO and of its incomlng iesource8
and application of resources, 1ndL￿1￿9 its Inwm8 ar￿ expendlbJr8, for that pariod. In pr8paring thesa flnandal
statements, the Tru8t8es are required to=
select Sultable accountlng pollcle8 and then apply them consl3tentty',
observ8 th8 m8thods Bnd winciples of the Charities SORP IFRS 1021.,
mak8 judg8monts and accounting esbmates that are r8asonabl8 and prud8ntr
stale whether applicable UK Accounting Standaid5 IFRS 1021 have been followed. subject lo any
material departuros disclosed and explaineLI in the financial slatemenls.,
prepare the financlal $18tsments on the golng concern ba8is unless il is inapproprlate lo presume that the
CIO wlll conllnue in business.
Th8 Truste8S 8re T88ponsibl8 for k88ping ad8qual8 accounting records tho1 are suffi￿8￿1 lo show and 8XF481n
the CIO'S transgotions pnd disdose wth reasonable accurocy al any lime the financlal positi'on i)f the CIO ond
enable them to gnsL*re that the flnancSal'stslgmgnl8 comply.wilh the Ch8rttSe8 Act 2011, the Charlly (Accounts
ond Roportsl Regulations 2008 and the provlslon$ of the Twsl dged. They are also responslble for
safegLiarding th8 assets of the CIO and h8nce for taking reasonable stsps for tha prevention ond dat8cilon of
fraLtd and other irregL*laritie8.
Approved by order of tho m8mb8rs of the board i?f Trusta8s and 6ign8d on Ih6ir b8half by.
Brlg P KlmborOBe
Deputy Colonel Finan
Paue 6

Th• Morclan Rtgimenlal Charlty
Independont oxamlnarfs rgport
For tho yoar gndgd 31 Ma￿h 2021
Ind•p&nd•nt examln•tr• report to th• Tru•leè• of Th• Mor¢l•n Roglm•ntal Charlty (Vio CIO'I
I report to the chadty Trustees on my examlnation of the accounts of the Clo for tho year 8ndod 31 March 2021.
R•sponsibllitie• and ball$ ol report
A8 the Tru818es of ihe CIO you ar8 responsibl8 for the preparauon of tho a¢counl$ In a¢cordance w41h the
roquirernents of the Chariues Act 20111'the 2011 Act'i.
I report in re8pecl of my examlnallon of th8 CIO'S 8ccounts carrled out under seotion 145 of the 2011 Act and In
c8rrOng out my examinatSon I have followed tho applJcable Dlre¢tions glvgn by the Charity Comm188ion under
88cllon 145{S)Ibl of the 2011 Act.
Independent.oxamlnerf8 •tstem•nl
Your att8nllon 18 drawn lo the fact that the CIO has prepared the accounts in accordance wlth Accounting and
Reporting by Charilles.. Statement of Recomm8ndgd Praclico applicable to charities preparlno their accounts in
accordance ¥￿th the Flnancial Reporting StsndBrd applicoble in the UK and Republlc of Ireland IFRS 102) In
preterence to the Accounting and Reportlng by Charflies.. Statement of ReGommgnded Pracllce i8gued on I
Aprll 2005 whlth Is referred to In the axlant r8gLtlallons bul has bggn wlthdrawn.
l urKl8rstand that this has been done In order for the accounts to provide a true and fair vtaw In accorda￿ wlth
the Generally Accepted AccounlNJ Practlce 8ffectlve for roportlng perlodB bgglnnlng on or after 1 January
2019.
I have completed my examination. I confim that no matter8 have come to my attention in connectbn wlth the
eX8￿1n8110n giving ma cause lo bèlleve that in any material respect..
accoundng records werg not k8pl in respert ol tho CIO as requlred by secllon 130 of the 2011 Act; or
thp accounts do nol accord ￿t￿ those record8. or
the accounts do not comply wlth tha appllc8ble requlrements concgrnSng th8 form and content of
accounts sel out kn thg Chorilh?s {Accounls arid Reports) RegulatSons 2008 other than any requirement
that the accounts glva a 'trug and fairf view which is not a matter consldered as part of an independanl
examination.
I have no concems and have come 8cros8 no other matters In connectlon wRh the examination to whlc
attention 8hould be drawn In th18 Teport In order.to enable a proper under8landlng of the a¢¢ounts lo be
r8ach8d.
Thls report Is made solely to the CIO'S Trusteès, as a b¢￿y. In 8ccordance wlh Part 4 of the Cha￿￿￿8 (Accounts
and Rèport8} Regulations 2008. My work h85 b88n und8rtakèn so that I mlght State lo the CIO'S TnJsla8s Ihosa
matters l am requir8d to 8tat8 to them In an Independent examiner's report and for no other purpose. To the
fullest ex18nt p8rmitt8d by law, I do not accept or assume re3ponsAMlity to anyone other than the CIO and tha
CIO'S Trustees as a body, for
work or for this report.
Slgned=
Andrgw Morris FCA
Dains LLP
Blmiingham
P8ga 7

Thg Mgw)an Roglmgntal Charlty
statement of flnanclal actlvltlos
For tho yoar ended 31 March 2021
Unre•trScted
fund•
2021
Restrlctèd
funds
2021
Total
funds
2021
Total
funds
2020
Note
In¢om• Irom:
Donations and18ga¢ioS
Other tradin9 activrti88'.
Fundraising
Inve81ments
64,497
11.009
75.508
63.648
7.368
58.520
5,882
10.122
13.2SO
68.842
16.761
93.498
Total Inc¢mo
Exp•ndlture on:
Raising funds..
Investment management
FundraiÈlng tradlng expense8
cha￿￿bI0 AotivlUe8
130,385
27.013
157.398
173.907
15.536
36,680
77fv93
1348
386
2q,278
17,884
46,000
98,771
18,760
59,883
138,184
Total expondllure
119,709
33.012
162,721
216,827
Net galn8111088es) on Inv88tments
12
423,898
74686
498,584
1288,181}
Nèt movomgnt In funds
Roconclllatlon ol funds:
Total funds brought forward
Not movement in funds
424574
68,687
493,281
1311,1011
15
2,275.992
424574
351712
68,687
2,630,71M
493.261
2,941,805
(311.1011
Total funds carrled forward
15
2,700,566
423.399
3.123.965
2.630.704
The notes on pagos 10 to 24 fomi part of these flnanci81 statsmenls.
Pag6 8

Thè Mèrcian Reglmental Charlty
Balan¢8 shogt
As at 31 March 2021
2021
21)20
Note
Fixed assets
Tanglble assets
Invgslments
11
12
14173
2,994777
17,679
2,514,077
3,008,950
2.531.756
Currnnt assots
D8btors
Cash at bank and in hand
13
32.287
105.657
37,807
76,576
137.944
114,383
Credltor8.' amounts f811ing du8 within one
year
14
(22.929}
(15.4351
Nèt currnnt a880ts
115,015
98.948
Total n•t assots
3,123,965
2.630,704
Charlty fund8
Re8trfcted fund8
Unr881ricted funds
15
15
423.399
2.700.566
354,712
2.275,992
Total fvnds
3.123.965
2,630.704
Th8 financlal 8talements were approved outhoris8d for issue by the Twstees and slgngd on their behalf by:
8rlg P Klrnbgr OBE
Oeputy Colonel Flnanco
Tho nota8 on pag88 10 10 24 forvn part of these financl81 statements.
Page 9

The Merclan Rog1M￿tal Charlty
Notes to the flnanclal statsments
For the yèar endod 31 March 2021
Gongral Infomatlon
The Mercian Reglmental Charity 58 8 private Charltable Incorporated Organisation ICIOI reglSt8red with
th9 Charity Commisslon In England & W8188, Its reg18ter8d number and reglstered offi￿ address are
givgn on pago I, The CIO'S oblects and prSncipal 8ctIv￿89 are set out in the Tru8188s' Raport.
Aeeountlng polld•¥
2.1 Basls of prnparntlon of flTh•nclal $tatomont8
The financial statements hav8 been prepared In accordance wllh the Chari118s SORP IFRS 1021-
Accounting and Reporting by Charitles.. Statement of Recommended Practice appl*cabl8 lo chariti8S
preparing their aGcounls in accordance Imth the Fln8nc181 Reportlng Standard applicable in the UK
and Republic. of Ireland IFRS 1021 {effectlve l January 20191, the Financi81 Reportlng Standgrd
applicable in th8 UK and Republic of Ireland IFRS 1021 and the Ch8rltl8s Act 2011.
Th6 Merd8n Raglm8ntal Chgrlty meets the de11n1￿0￿ of a publlc b8nèfll enty under FRS 102.
Assets and liabil+ti8s are inltially reccgnlsad at hlBIoTlcal cost or Iran8acUon valu8 unl8s8 Other￿89
ststed in the ￿leVaTh1 accounting poliGy.
2.2 Golng £oncern
After making appropriate enqulrY&s. Iho Tru51ees h8ve a rea80n8bl8 exp8ct81ion that th8 CIO has
adequat8 r8sourc8s lo continue in oper81ional exlstence for the foreseeabl8 future. For thls rgason,
they conlinue to odopl the going concern basls In preparlng the flnanclal statements.
2.3 Incomo
All incoma is recognised once the CIO ha8 entitlement to the incom8, it is probable that the Incorne
11 be recelved and the amounl of Income recelvable can bè measured reliably.
Thg recognltlon of income from legacres 18 depend8nl on gstabllshlng 9nllUgment, the probablllty of
receipt and the 8blllty lo estlmate with sufficient accuracy the amount recelvable. EvKlence of
enliuemgnt to g1998cy exists when the CIO has sufficient evidence that a gift has b8en1oft to them
(Ihiough knovAedg8 of the 8xl81once of a valid will and the death of the benefaclorl and the executor
is soU$flod that the property in question will not be required to sa￿Sty claims in the eslale. Receipt of
a Eagacy musl be recognlsed when 1118 probable that it will be received ond the fair. value of th&
amount receiv8ble. which wlll generalty b8 thè expected cash amount to b8 distrilwted lo the CIO,
an be rellably mea8ur8d.
Incorn8 tax fecoverable In relatlon lo Investment in￿rne 18 r8cognlsgd al the tlme the Investment
income is rec8ivable.
Othor Income Is recognlsed In the perl(xl in which It Is r￿9￿able and lo the axlent the oood8 have
b88n provlded or on comple.Il¢in of the service.
Page 10

The Morclan R•glmonlal Charlty
Nolo8 to the flnanclal 8tatsmont•
For Ihg year gndgd 31 March 2021
Ac¢¢untlng pollclgs l¢ontlnuod}
2.4 ExpondSturo
Expenditure Is reC￿nIsed once there is a legal or construdvo obligalion lo transfer economlc
benefit lo a third party, il is pmbable that a Iran8fer of economic benelits will be requlrpd In
BetU8ment an¢J the amount of the Obl￿all0n c8n b8 measured rellably. Expendllure is dassif18d by
activty. The costs of each act$￿tY are mado up of the total of direct CO8ls and shared costs,
Including support costs involved In undertaking gath, activity. Direct costs attributable to 8 single
activty are allocated directly to that actSvity. Shared o)sls whith conlrlbuts lo more than rffie actlvlty
and support CO818 whlch are not attributable lo a slngle acllvlty are appor￿oned bgtsv8en th088
8ctivilies on a basls consistanl wih th8 use of re8oufGes. Canlral stsff costs are allocated on the
basis ol tim8 sponl. and depr8ciat+on charyes allocated on tha portion of the a8set's use.
Expenditur8 on raising funds Indudes all expendI￿re inourre(I by th8 CIO to ralse fvnds for its
ch8rttsble purp0885 and IncludgB wsts of 811 fundra181ng acllvitles evgnts and non-charftable tradlng.
Expenditure on charltablg activitygs 1$ inujffed on dlrectly undertakirMJ th8 activltie8 whlth furthar the
CIO'S oblectlves, as well as any associated support C08ts.
l expendlture18 Inclu81ve of Irrecoverable VAT.
2.5 Intorost ro¢glv•bl•
Inler68t on funds held on dap08it 18 Includ8d when recelvable and the amount can bg moosur¢d
r8llably by the CIO., thls Is normally upon nouficallon of the intgrest paid or payable by thg irsslitulion
wlth whom the fund8 are doposltgd.
2.6 Tanglble Ilxed Issets and doprnclatlon
Tanglble fixod assets eo8ting £1,000 or more ar8 capitalised arwj recognlsed wh8n fijture economk
benefits are probable and the c#)8t or valug ol Ihg asset can be measured reliably.
Tangible f￿ad assets are InRlally recognised al cost. After recognltlon, undgr th6 CO81 model,
tsnglble fixed assets are measured al cost less accumulated deprecialiiyi 8nd any accumulated
Impalrmenl Io$s9s. All costs incurred to brlng a tsngibl8 r￿ed asset Into Its intended Wofklng
¢ondillon should be includad in the measurement of cost.
At each re￿￿ng date the CIO assesses whether there Is 8ny Indlcation of Impalmionl. If such
inijicallon exists, th8 recoverabla amount of the asset is delgmilned to b8 the hlgher of its fair value
1gS$ Costs to 8811 and value in usg. An imp8irmenl1085 Is recognisod where the earrwng amount.
excgods th8 recoverable amount.
Depreciation 18 charged 80 as lo allocate Iho cost of t8nglble fixed assets less their residu81 v81ug
over thelr es14maled useful Ilve8, usln9 Ihg straight-line method.
Depreciauon Is provided on thè foll¢)wlng ba8es:
Equlpment
Crockery and cullgry
10%-2Q% straight-ling
10% slralghl-llng
No dep￿¢18t40n Is charged in thè year of purthase or disposal.
Paga 11

Tho Morclan Roglmental Charfty
Not•• to the flnancial stat•m•nts
For the yoar endèd 31 March 2021
Accountlng pollel•8 l¢ontlnugd)
2.7 Invo•lments
Flxed a880t inv6Stm8nts ar8 a form of fin8nclal In8trument and 8re Inltlally re¢con￿ed ot thelr
tran88clion Cost and 3ubsequenlly measure(1 01 falr value al the Balance sheet data. unlgss Ihe
value c8nnot b6 measured reliably in which case Il Is measured at C08t less impairment. Investmonl
gains and losses. whether realised or unraalised, 8r8 comblned and p￿sented as 'Gainsl{Losses)
on Investments, in thè Stat8rnent of fin8nc181 acUvllle8.
2.8 thbtorJ
Tr8d8 and other debtors are recryJnl8ed al the 8etUem8nt 8mount after any discount offered.
Prepayments are valuad at ts amcwnt prepald nel of any trade discounts duè.
19 Cash at bank #nd in hand
Cash al bank and in hand Includgs cash and 8hort-tern highty Ilqukl investmonts wlth a Short
matudty of Ihm months or18ss from the date of acqulslllon or openlng of the dgposlt or 8lmllar
account.
2.10 Llabllltleg
Llabilltles are recognised wh8n an obligatlon arl888 to trarb8f8r economic beneflts as a result of past
transactions or events.
2.11 Financial Instrumgnts
Th8 CIO only has financial assets and flnanc181 liabilities of a kind that qualSfy as baslc financial
Instrument8. Basic finonclal instruments are lnilla1￿ recognised aft transaction value and
8ubsequ8ntly measured at thelr settlement value wlh the exception of bank loans whlch ar8
Subsequenly measured al amortised cost using the effective intsrost method.
2.12 Pon8lon8
The CIO operalos a deflned contribution pension schamo 8nd the pen81on charg8 represents the
amounts payabl& by th& CIO lo th8 fund In respect of the year.
2.13 Fund aceountlng
General funds ar8 unrestricted funds which are available for use at the dlscretion of the Truileès In
furtherance (rf the general obj8clive8 of the CIO and ￿lch hav9 not b8en deslgnaled for oth8r
Pufposes.
Restricted funds are funds vthlch are to bo UBed in accordance wllh speC￿C rnstrkt4on8 imposed by
donors or which hove b88n r81sed by the CIO for particular purposes. The costs of raising and
adminislerlng such funds ore charged again81 th8 specific fund. The aim and usè of each restricted
fund is sel out In the not9S to lh9 flnanclal 81atem8nts.
Investment incom8, gains gnd10s888 are allocated to th8 approprk9te fund:
Poge 12

Tho Morclan Rgglmgntsl Chailty
Notss to the Ilnanclal 8tatement8
For the year •hd•d 31 mA￿h 2021
Income from donatlons andlogaclos
UTrrg$trlctgd Re8trl¢tBd
funds
funds
2021
2021
Totsl
funds
2021
Donotlon8
Subscripllons and legacles
other voluntary In¢om8
Dals Pay Scknemg
4.507
10.2C
2,050
47,734
11,009
15,516
10206
2,050
47,734
Totsl 2021
64,497
11,009
75,506
Unre•trlcted Restrlctod
funds
funds
2020
2020
Total
funds
2020
Don8tlons
sub8criplionB ar￿ legacie8
Other voluntary income
Dals Pay Scheme
1,216
11,636
674
45.756
4,366
5,582
11,638
674
45,756
Total 2020
59.282
4,366
63,648
Pa9e 13

Tho Mor¢lan Roglmgntal Charlty
Notas to th• flnon¢l•l statomont•
For tho yfjar endod 31 March 2021
Incomo from fvndral•lng
Unrostrlcted RestrlctBd
funds
funds
2021
2021
Total
funds
2021
Car park
Fleld and stable rental
Tower admls8ion
Café income
Shop income
Othar incom&
2,150
2.164
1,145
423
2,150
2,164
423
6,613
755
6,613
755
Total 2021
7,368
5.882
13,250
Unrnstrfct•d Rastrlctsd
fvnds
funds
2020
2010
Tot•1
funds
2020
Car park
Fleld and stsble rent81
Tower admi881(In
Café Incom8
Shop Income
other Income
3,052
2,158
1,310
715
3,052
2,158
1.310
715
4,321
5,205
4,321
4,477
728
Total 2020
8.798
7,963
18,761
P8g8 14

Thg Mgrclan Reglm•ntal Charlty
Nots8 to the tln•n¢l•l 8tatwnent•
For tho year ondgd 31 March 2021
Invgstmont Income
Unr8strlct8d Rostrlctod
funds
fund•
2021
2021
T4)tal
funds
2021
Investment Income
Deposf( account inlerggt
58,496
24
10.117
88.613
29
Totsl 2021
58,520
10.122
68.642
Vnrostflctgd . RoBlrlcted
funds
funds
2020
2020
Total
funds
2020
. Investment incom8
Deposit account intsr8St
81,313
103
12,056
28
93,369
129
Total 21)20
81,416
12,082
93,498
Exptndlture on rnlslng fund8
Investment manag•mont
Unrnstrlcted R•slrlctsd
funds
funds
2021
2021
Tot•l
fundB
2021
Investment man8g8m8nl f988
15,536
2,348
17,884
Unro8trfcted R•8t￿ctod
fund$
funds
2020
2020
Tot•1
funds
2020
Investment management fees
16,309
2,451
18,760
Page 15

Tha Merclan Reglment•l Charity
Notss to tho financlal •tatemont•
For tha year ended 31 March 2021
Expendlture on r•l8lng funds Icontlnued)
Fundralslng tradlng gxpensos
Unmstrlctod ReBtflcted
funds
lunds
2021
2021
y￿a
funds
2021
Wag88 and salarles
Social Security ¢osts
Pellsion costs
Events
Goods for resale
Crlch sile
Equlpment and chattels
21,999
1,824
473
21,999
1,824
473
586
9,955
9,386
1,843
9.955
9.386
1,843
36,680
9.386
46,066
UnT•Strlct•d R•$trlcted
tunds
funds
2020
2020
Totsl
fund•
2020
Wages and salari8$
Soci818ecurity costs
Penslon costs
Goods for re88le
Crlch sllè
EquSpmenl 8nd chatt81s
25,741
1.441
25,741
1,441
388
8,506
4,196
4,196
19,611
19.611
55.687
4,196
59,883
Page 18

Thè.Mèrcl•n Reglmontal Chavlty
Notes tg thg flnanclal $t•t•bn8nts
For tho yoar •nd8d 31 March 2021
Analy8h of expendlturo on charltable actlvltS08
Actlvl¢l
unfJ•rtaken
dlrectly
2021
Support
Total
fund¥
2021
2021
Furtherance of thg charivs objects
93,438
5,333
98,771
Actlvllle•
undèrtaken
dlr•ctly
2020
Support
¢o•ts
2020
Total
fvnds
2020
Furtheranc8 of the charivs obl8cts
131,493
6.691
138,184
Analysis of diroct co•t•
Tot•1
fund•
2021
Total
funds
2020
staff costs
DeprecSatlon
MarkeUn9
Heritage co8t8
RMAS offlcèr
GIA for Worcester Museum
Eaglg journal costs
RHQ costs
Othgr dlrect oosts
17.228
3,505
26,208
16,873
2,700
37,769
8,821
5',452
653
20.01)0
8.173
9,151
4,642
26,085
17,165
93,438
131,493
Pag8 17

Thè Alerclan Reglmentsl Charlty
Notes to th• flnanclal statements
For the year ènded 31 March 2021
Analysls of 9xp9ndl￿rO on charltabl• actlv5tles {contlnu•d)
Analysls of support costs
Total
lund
2021
Total
fund#
2020
Insurance
RHQ administration
Other support costs
Legal and professional
Governance
2.022
481
2,290
663
687
131
2,920
2,300
5.333
6,691
Not Incom•ll•xpendltur•)
Th1$ Is stated after chargin9:
2021
2020
Depraciation of tangible fixgd assets
Pension contributions
Independent examinerf5 feè
3,S06
76S
2.300
2.700
671
2.280
Pa￿ 18

Th• M•rclan Reglmontsl Charlfy
Nots8 to tho flnanclal *tataments
For the ygar end•d 31 March 2021
2021
2020
W8ge8 and salarle8
Soc181 $8curlty costs
Penslon costs
37.941
2,818
765
41.371
2.401
671
41.524
44,443
The 8ver8ge number of persons employed by the CIO during the year wa8 as follows..
2021
2020
Sta
No employee re￿IVed remuneration amounting to moré than £60,000 In ellher year.
10. Tru8ts••' r•munwation and exponses
During the year, no Trustees recalved any remunarall¢M or other b8nefits (2020- £NIL).
Dudng the year, no Trustee exp8n88s hava been Incurred (2020- £NIL).
Page 19

Tho Me￿1•n R•glmental Charlty
Notes to Iho financial $tatsm•nts
For tho yo•r ended 31 March 2021
11. TAnglbl• flxèd aBBets
Crockory
Equlpmgnl and cutlgry
Total
Cost
At 1 April 2020
6,879
27,000
33,879
At 31 Marth 2021
6,879
27,000
33,879
Depreclatlon
At 1 April 2020
Charge for the year
16,200
2,700
18,200
3,500
At 31 M8rch 2021
806
18,900
19,706
Net book valu•
Al 31 March 2021
6,073
8.100
14.173
At 31 March 2020 .
8,879
10,800
17.679
Page 20

Tho Mercian Regimental Charlty
Noto$ to the flnan¢lal statomgntl
For tho year and￿ 31 March 2021
12. Flxed as801 Inve•tments
Usted
Inve¥tm•nts
Market Value
At 1 Aprll 2020
Addltlon8
Dlspo$als
Cash Iradlng movgm8nts
Rèvaluations
2,514077
485,797
{452.7911
{65,0141
512,708
At 31 March 2021
2,994777
Not book value
At 31 March 2021
2,9W777
At 31 Ma￿h 2020.
2.514.077
Invg$tmgDts at markot valuo Gompri8e:
2021
2020
Listed investments
Cash and cash equlvalents
2.917,303
77,474
2.386,756
127.321
2,994777
2,514.077
P8g6 21

Thg M•wl•n Roglmontal Charlty
Notos to the flnanclal 8tatèm•nt8
For tho y•ar andod 31 March 2021
13. D•btor•
2021
2020
Trade debtors
Other debtors
Prepayments and ac(¥ued Income
22,737
22.236
458
9,106
15.113
32,287
37.807
14. Crodltors: Amount8 falllng due wlthln ono yoar
2021
2020
Trade credltors
Accruals and defgrred Income
22,925
15,435
22,929
15.435
IncIL￿ed In credltors Is deferred Income of £1,423 {2020 - £1,588) In respect of fleld rantsl In¢om6 8nd
fundraising 8vents planned for the noxt flnanclal year.
Page 22

Tho Merclan Roglm•ntsl Ch•rlty
Not•s to th8 Ilnanclal 8latoments
For the year ended 31 March 2021
15. Statem•nt of funds
Stat•m•nt of funds . currgnt yoar
8alanc8 at
31 March
2021
8alanca at 1
Aprll 2020
Galnsl
{Lossesl
Income Expondlturo
Unr•strfctod fun
General Funds
2,275,992
130,385
(129.7091
423,898
2,700,566
R••trlctod funds
Rfj¥tricted Funds- Crlth
354,712
27,013
(33,0121
74,686
423.399
Total of lund8
2,630,704
157.398
(162.7211
498,584
3,123,965
Tho specifi¢ purpos8s for which the funds are to be applled are as follows..
Rostrlctgd Fund- Crfch
Th8 Mereian Reglmental War Memorial 15 siknaled in Crich, Derby8hire. Annually a pllgrima98 is held at
the sile. Ther818 a bungalow on si19, vthich is occupied by the Warden who Is employed by Ihe Mercian
Reglm6nlal Charlty. The Restricted fund pays lor all 8ssoc4aled costs for Crlch, whlch Snclude wogos for
the wgrden. utllty bllls for the towar and any neco98ary TgP8lrs and grounds malntenance exp8ndltuTe.
ncome comes in for Crrch through vlsltors p8rkSng their cars on sits and entry fees balng paSd lo go up
in th8 tower. The warden runs 8 coffee Shop ol which a rent IS P8id to the charity each month. Rent Is
81so recelved for tho18ttlng out of fkrylds whlch amounts to £2,164 per financial y88r.
Stat•m•nt of funds . prlor yoar
Balance at
31 March
2020
Balanu •t
1 Wl 2Q19
GaSnsl
(Losses)
Inoomo Expendlturtr
Unrestrlct•d fvnds
General Fynds
2,547,726
149,496
1192,3551 {228.875) 2,275,992
Re8trlctsd fund$
Restricted Funds - Cd¢h
394,079
24,411
(24,472)
139,3061
354,712
Total of fund8
2,941,805
173,907
1216,8271 (268,1811 2,630,704
Page 23

Th• M•rclan Rgglmontsl Ch•rlty
Notes lo Ihg flnan¢lal st8tsmonts
For thg yoar •ndert 31 March 1011
16. Anal￿1$ of n•t a*sèts botw•èn funds .
Analy818 of not •880ts between funds - curront y•ar
Unr•strlctod R•s¢rlctod
funds
funds
2021
2021
Totsl
funds
2021
Taroibl8 fixed assets
Flxod asset Investments
Current 8S8ets
Credltors due w6thln on8 year
14.173
2.594,858
112.563
(21.028)
14,173
2,994,777
137,944
{22,929)
399,919
25.381
11,901)
Total
2,700,566
423,399
3,123,965
Analy818 af n•t as¥•ts botW08n funds- prlor yg•r
Unrnstrlcted RMtrld•d
funds
lund•
2020
Total
fund•
2020
T8nglbl8 fixed a88ets
Flxed asset Investments
Current assets
Credltor8 due wilhln one year
17,679
2,184,899
87,492
(14,0781
17,679
2,514,077
114,383
115,4351
329,178
26.891
11,3571
2,275.992
354,712
2,630.704
17. Pan8lon commltments
The charity operates a dèfin8d contributson penslon scheme. The assets of th8 scheme are held
8ep8rately from thosè ol the charity in On independentty admlnlslered fund. The pension cost charg8
represents conlribullon¥ payable by the charity to the fund and amountèd to £765 (2020 £6711- No
afflounts woro outstandlng at glther balance 8h881 data.
The pension expense is allocated to reslri¢led funds on the ba818 that one member of staff is 8mploy8d to
work al the Crich site and thoT6fore that employee's penslon cost Is treated as restricted.
18. Relatsd party trnnsactlons
Thorg Wgro no relatgd party transactlon8 requlrlng di8closur6 in the reportlng pertoJ.
Page 24