| Page | ||||
|---|---|---|---|---|
| Reference and administrative | details ofthe CIO, its Trustees | and advisers | ||
| Trustees' report |
2-6 | |||
| Independent examiner's report |
||||
| Statement of financial |
activities | |||
| Balance sheet | ||||
| Notes to the financial | statements | 10-25 |
| Trustees | Lt Gen I Cave CB, Chairman |
Lt Gen I Cave CB, Chairman |
and Colonel of the Regiment | and Colonel of the Regiment | |
|---|---|---|---|---|---|
| Brig S Banton OBE, Deputy | Colonel Heritage | ||||
| Brig S Bell QVRM, Deputy Colonel RRCM (resigned | 19January 2022) | ||||
| Brig C Ginn | CBE, Deputy Colonel RRCM (appointed | 19January 2022) | |||
| Brig P Kimber OBE, Deputy | Colonel Finance | ||||
| Col A Walton MBE | |||||
| Lt Col (Retd) M Jackson OBE | |||||
| Lt Col (Retd) N Mackintosh | |||||
| Lt Col D Canham OBE, CO1 Mercian |
|||||
| Lt Col R Grover MBE, CO2 | Mercian | ||||
| Lt Col R Spalton, CO4 Mercian | |||||
| Mr M Elliott | |||||
| Charity registered | |||||
| number | 1177059 | ||||
| Principal office | Regimental | Headquarters | |||
| The Mercian | Regiment | ||||
| Whittington | Barracks | ||||
| Lichfield | |||||
| Staffordshire | |||||
| WS149TJ | |||||
| Financial secretary | Mrs P Mear | ||||
| Accountants | Dains Audit | Limited | |||
| 15Colmore | Row | ||||
| Birmingham | |||||
| B32BH | |||||
| Bankers | Lloyds Bank | pic | |||
| 22 Conduit Street | |||||
| Lichfield | |||||
| WS136JS | |||||
| CAF Bank | |||||
| 25 Kings Hill |
Avenue | ||||
| West Mailing | |||||
| ME194JQ | |||||
| Royal Bank | of Scotland | ||||
| 200 Fowler Avenue | |||||
| Farnborough | |||||
| GU14 7JP | |||||
| Investment | Managers | Investec Wealth and Investment |
|||
| 30 Gresham | Street | ||||
| London | |||||
| EC2V 7QN |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | |||
| Note | E | E | E | E | ||
| Income from: | ||||||
| Donations and legacies |
60,699 | 5,304 | 66,003 | 75,506 | ||
| Other trading activities: |
||||||
| Fundraising | 9,278 | 7,743 | 17,021 | 13,250 | ||
| Investments | 50,575 | 6,964 | 57,539 | 68,642 | ||
| Total income | 120,552 | 20,011 | 140,563 | 157,398 | ||
| Expenditure on: |
||||||
| Raising funds: | ||||||
| Investment management |
17,019 | 2,607 | 19,626 | 17,884 | ||
| Fundraising trading expenses |
35,800 | 4,301 | 40,101 | 46,066 | ||
| Charitable activities |
187,878 | 16,511 | 204,389 | 98,771 | ||
| Total expenditure | 240,697 | 23,419 | 264,116 | 162,721 | ||
| Net expenditure before net gains on |
||||||
| investments | (120,145) | (3,408) | (123,553) | (5,323) | ||
| Net gains on investments | 126,993 | 18,961 | 145,954 | 498,584 | ||
| Net income | 6,848 | 15,553 | 22,401 | 493,261 | ||
| Transfers between |
funds | 16 | (3,500) | 3,500 | ||
| Net movement in |
funds | 3,348 | 19,053 | 22,401 | 493,261 | |
| Reconciliation of |
funds: | |||||
| Total funds brought |
forward | 16 | 2,700,566 | 423,399 | 3,123,965 | 2,630,704 |
| Net movement in funds |
3,348 | 19,053 | 22,401 | 493,261 | ||
| Total funds carried forward | 16 | 2,703,914 | 442,452 | 3,146,366 | 3,123,965 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| Fixed assets | ||||||
| Tangible assets | 12 | 10,667 | 14,173 | |||
| investments | 13 | 3,021,105 | 2,994,777 | |||
| 3,031,772 | 3,008,950 | |||||
| Current assets | ||||||
| Debtors | 14 | 21,493 | 32,287 | |||
| Cash at bank and | in hand | 210,604 | 105,657 | |||
| 232,097 | 137,944 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 15 | (117,503) | (22,929) | |||
| Net current assets | 114,594 | 115,015 | ||||
| Total net assets | 3,146,366 | 3,123,965 | ||||
| Charityfunds | ||||||
| Restricted funds | 16 | 442,452 | 423,399 | |||
| Unrestricted funds |
16 | 2,703,914 | 2,700,566 | |||
| Total funds | 3,146,366 | 3,123,965 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| F | F | F | ||
| Donations | 353 | 5,304 | 5,657 | |
| Subscriptions | and legacies | 10,570 | 10,570 | |
| Other voluntary | income | 659 | 659 | |
| Day's Pay Scheme | 49,117 | 49,117 | ||
| Total 2022 | 60,699 | 5,304 | 66,003 | |
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| F | E | F | ||
| Donations | 4,507 | 11,009 | 15,516 | |
| Subscriptions | and legacies | 10,206 | 10,206 | |
| Other voluntary | income | 2,050 | 2,050 | |
| Day's Pay Scheme | 47,734 | 47,734 | ||
| Total 2021 | 64,497 | 11,009 | 75,506 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| E | F | ||
| Car park | 3,009 | 3,009 | |
| Field and stable rental | 2,164 | 2,164 | |
| Tower admission | 1,790 | 1,790 | |
| Cafe income | 780 | 780 | |
| Shop income | 7,638 | 7,638 | |
| Other income | 1,640 | 1,640 | |
| Total 2022 | 9,278 | 7,743 | 17,021 |
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| E | E | ||
| Car park | 2,150 | 2,150 | |
| Field and stable rental | 2,164 | 2,164 | |
| Tower admission | 1,145 | 1,145 | |
| Cafe income | 423 | 423 | |
| Shop income | 6,613 | 6,613 | |
| Other income | 755 | 755 | |
| Total 2021 | 7,368 | 5,882 | 13,250 |
| Unrestricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2022 | 2022 | 2022 | ||||
| E | E | F | ||||
| Investment | income | 50,566 | 6,963 | 57,529 | ||
| Deposit account interest | 9 | 1 | 10 | |||
| To ta I 2022 | 50,575 | 6,964 | 57,539 | |||
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| 2021 | 2021 | 2021 | ||||
| F | F | E | ||||
| Investment | income | 58,496 | 10,117 | 68,613 | ||
| Deposit account interest | 24 | 5 | 29 | |||
| Total 2021 | 58,520 | 10,122 | 68,642 | |||
| 6. | Expenditure | on raising | funds | |||
| Investment | management | |||||
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| 2022 | 2022 | 2022 | ||||
| E | F | E | ||||
| Investment | management | fees | 17,019 | 2,607 | 19,626 | |
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| 2021 | 2021 | 2021 | ||||
| E | ||||||
| Investment | management | fees | 15,536 | 2,348 | 17,884 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| E | E | E | |
| Wages and salaries | 21,764 | 21,764 | |
| Social security | 1,783 | 1,783 | |
| Pension costs | 465 | 465 | |
| Goods for resale | 11,788 | 11,788 | |
| Crich site | 4,301 | 4,301 | |
| 35,800 | 4,301 | 40,101 | |
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| E | |||
| Wages and salaries | 21,999 | 21,999 | |
| Social security costs | 1,824 | 1,824 | |
| Pension costs | 473 | 473 | |
| Events | 586 | 586 | |
| Goods for resale | 9,955 | 9,955 | |
| Crich site | 9,386 | 9,386 | |
| Equipment and chattels |
1,843 | 1,843 | |
| 36,680 | 9,386 | 46,066 |
| Activities | Grant | Grant | ||||||
|---|---|---|---|---|---|---|---|---|
| undertaken | funding | of | Support | Total | ||||
| directly | activities | costs | funds | |||||
| 2022 | 2022 | 2022 | 2022 | |||||
| E | F | E | E | |||||
| Furtherance | of the | charity's | objects | 99,236 | 100,000 | 5,153 | 204,389 | |
| Activities | ||||||||
| undertaken | Support | Total | ||||||
| directly | costs | funds | ||||||
| 2021 | 2021 | 2021 | ||||||
| E | E | E | ||||||
| Furtherance | ofthe | charity's | objects | 93,438 | 5,333 | 98,771 | ||
| Analysis of | direct | costs | ||||||
| Total | Total | |||||||
| funds | funds | |||||||
| 2022 | 2021 | |||||||
| E | F | |||||||
| Staff costs | 18,090 | 17,228 | ||||||
| Depreciation | 3,506 | 3,505 | ||||||
| Marketing | 23,341 | 26,208 | ||||||
| Heritage costs | 1,940 | |||||||
| RMAS officer | 3,099 | 653 | ||||||
| GIA for Worcester | Museum | 20,000 | 20,000 | |||||
| Eagle journal | costs | 7,792 | 8,173 | |||||
| RHQ costs | 2,022 | 506 | ||||||
| Other direct | costs | 19,446 | 17,165 | |||||
| 99,236 | 93,438 |
| Total | Total | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| F | F | |
| Insurance | 1,533 | 2,022 |
| RHQ administration | 281 | 481 |
| Other support costs | 879 | 530 |
| Governance | 2,460 | 2,300 |
| 5,153 | 5,333 |
| 8. | Analysis | of grants | |||
|---|---|---|---|---|---|
| Grants to | Total | Total | |||
| Institutions | funds | funds | |||
| 2022 | 2022 | 2021 | |||
| E | E | F | |||
| Worcester | Museum | 100,000 | 100,000 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| F | E | |||
| Depreciation | of tangible | fixed assets | 3,506 | 3,506 |
| Pension contributions |
779 | 765 | ||
| Independent | examiner's | fee | 2,460 | 2,300 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| E | ||||||
| Wages and | salaries | 38,457 | 37,941 | |||
| Social security costs | 2,866 | 2,818 | ||||
| Pension costs | 779 | 765 | ||||
| 42,102 | 41,524 | |||||
| The average | number | of persons | employed | by the CIO during | the year was as follows: | |
| 2022 | 2021 |
| Crockery | |||
|---|---|---|---|
| Equipment | and cutlery | Total | |
| F | E | ||
| Cost | |||
| At 1 April 2021 | 6,879 | 27,000 | 33,879 |
| At 31 March 2022 | 6,879 | 27,000 | 33,879 |
| Depreciation | |||
| At 1 April 2021 | 806 | 18,900 | 19,706 |
| Charge for the year | 806 | 2,700 | 3,506 |
| At 31 March 2022 | 1,612 | 21,600 | 23,212 |
| Net book value | |||
| At 31 March 2022 | 5,267 | 5,400 | 10,667 |
| At 31 March 2021 | 6,073 | 8,100 | 14,173 |
| Listed | ||
|---|---|---|
| investments | ||
| E | ||
| Market value | ||
| At 1 April 2021 | 2,994,777 | |
| Additions | 442,319 | |
| Disposals | (591,136) | |
| Revaluations | 101,127 | |
| Cash trading | movements | 74,018 |
| At 31 March | 2022 | 3,021,105 |
| Net book value | ||
| At 31 March | 2022 | 3,021,105 |
| At 31 March | 2021 | 2,994,777 |
| Invest | ments at market value comprise: |
||
|---|---|---|---|
| 2022 | 2021 | ||
| F | E | ||
| Listed | investments | 2,854,838 | 2,917,303 |
| Cash | and cash equivalents | 166,267 | 77,474 |
| 3,021,105 | 2,994,777 |
| 2022 | 2021 | ||
|---|---|---|---|
| E | E | ||
| Trade debtors | 17,949 | 22,737 | |
| Other debtors | 42 | 444 | |
| Prepayments | and accrued income | 3,502 | 9,106 |
| 21,493 | 32,287 |
| 2022 | 2021 | ||
|---|---|---|---|
| F | |||
| Trade creditors | 4 | ||
| Accruals and deferred | income | 117,503 | 22,925 |
| 117,503 | 22,929 |
| Statemen | t | offunds - prior year | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | |||||||||
| Balance at | Gains/ | 31 March | |||||||
| 1 April | 2020 | Income | Expenditure | (Losses) | 2021 | ||||
| E | F | F | F | E | |||||
| Unrestricted funds |
|||||||||
| General | Funds | 2,275,992 | 130,385 | (129,709) | 423,898 | 2,700,566 | |||
| Restricted | funds | ||||||||
| Restricted | Funds - Crich | 354,712 | 27,013 | (33,012) | 74,686 | 423,399 | |||
| Total of | funds | 2,630,704 | 157,398 | (162,721) | 498,584 | 3,123,965 | |||
| 17. | Analysis | of net assets between | funds | ||||||
| Analysis | of net assets between | funds | -current | year |
| Analysis of net assets between funds -cur |
rent year | ||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| F | F | F | |
| Tangible fixed assets | 10,667 | 10,667 | |
| Fixed asset investments | 2,604,649 | 416,456 | 3,021,105 |
| Current assets | 204,789 | 27,308 | 232,097 |
| Creditors due within one year | (116,191) | (1,312) | (117,503) |
| Total | 2,703,914 | 442,452 | 3,146,366 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| F | f, | F | ||
| Tangible | fixed assets | 14,173 | 14,173 | |
| Fixed asset investments | 2,594,858 | 399,919 | 2,994,777 | |
| Current | assets | 112,563 | 25,381 | 137,944 |
| Creditors | due within one year | (21,028) | (1,901) | (22,929) |
| Total | 2,700,566 | 423,399 | 3,123,965 |