2023-03-31-accounts

		Page
Reference and administrative	details ofthe CIO, its Trustees and advisers
Trustees' report		2-6
Independent examiner's report
Statement offinancial 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	ofthe Regiment
		Brig S Banton OBE, Deputy		Colonel Heritage
		Brig C Ginn	CBE, Deputy Colonel RRCM
		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 (resigned 21 March 2023)
		Lt Col R Grover MBE, CO2 Mercian (resigned 3 February 2023)
		Lt Col R Spalton, CO4 Mercian (resigned			27 April 2023)
		Mr M Elliott
		Lt Col G Brown, CO1 Mercian (appointed			21 March 2023)
		Lt Col C Whitting, CO4 Mercian (appointed			27 April 2023)
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
		30Gresham	Street
		London
		EC2V 7QN

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2023	2023	2023	2022
			Note
Income from:
Donations and legacies			3	61,142	4,548	65,690	66,003
Other trading activities:			4
Fundraising				7,252	7,711	14,963	17,021
Investments			5	61,775	10,163	71,938	57,539
Total income				130,169	22,422	152,591	140,563
Expenditure on:
Raising funds			6	53,388	6,782	60,170	59,727
Charitable activities			7	70,158	21,082	91,240	204,389
Total expenditure				123,546	27,864	151,410	264,116
Net income/(expenditure)		before
investments				6,623	(5,442)	1,181	(123,553)
Net (losses)/gains	on investments			(174,599)	(18,316)	(192,915)	145,954
Net (expenditure)/income				(167,976)	(23,758)	(191,734)	22,401
Transfers between	funds		16	(6,679)	6,679
Net movement in	funds			(174,655)	(17,079)	(191,734)	22,401
Reconciliation of	funds:
Total funds brought	forward		16	2,703,914	442,452	3,146,366	3,123,965
Net movement in funds				(174,655)	(17,079)	(191,734)	22,401
Total funds carried forward			16	2,529,259	425,373	2,954,632	3,146,366

		Unrestricted	Restricted	Total
		funds	funds	funds
		2023	2023	2023
Donations		2,117	4,548	6,665
Subscriptions	and legacies	8,483		8,483
Other voluntary	income	158		158
Day's Pay Scheme		50,384		50,384
Total 2023		61,142	4,548	65,690
		Unrestricted	Restricted	Total
		funds	funds	funds
		2022	2022	2022
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
	2023	2023	2023
Car park		2,494	2,494
Field and stable rental		2,164	2,164
Tower admission		1,797	1,797
Cafe income		520	520
Shop income	7,154		7,154
Other income	98	736	834
Total 2023	7,252	7,711	14,963
	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2022	2022
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
		2023	2023	2023
Investment	income	61,290	10,163	71,453
Deposit account interest		485		485
Total 2023		61,775	10,163	71,838
		Unrestricted	Restricted	Total
		funds	funds	funds
		2022	2022	2022
Investment	income	50,566	6,963	57,529
Deposit account interest			1	10
Total 2022		50,575	6,964	57,539

Unrestricted	Restricted	Total
funds	funds	funds
2023	2023	2023
15,515	2,511	18,025
Unrestricted	Restricted	Total
funds	funds	funds
2022	2022	2022
17,019	2,607	19,626

	Unrestricted	Restricted	Total
	funds	funds	funds
	2023	2023	2023
Wages and salaries	21,982		21,982
Social security	1,872		1,872
Events	1,320		1,320
Pension costs	472		472
Goods for resale	12,227		12,227
Crich site		4,271	4,271
	37,873	4,271	42,144
	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2022	2022
Wages and salaries	21,764		21,764
Social security costs	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

				Activities
				undertaken	Support	Total
				directly	costs	funds
				2023	2023	2023
Furtherance	ofthe	charity's	objects	65,624	5,616	91,240

				Activities	Grant
				undertaken	funding of	Support	Total
				directly	activities	costs	funds
				2022	2022	2022	2022
				E	E	E	E
Furtherance	ofthe	charily's	objects	99,236	100,000	5,153	204,389

	Total	Total
	funds	funds
	2023	2022
	F	F
Staff costs	19,848	18,090
Depreciation	3,506	3,506
Marketing	25,815	23,341
Heritage costs	3,557	1,940
RMAS officer	2,042	3,099
GIA for Worcester Museum		20,000
Eagle journal costs	8,762	7,792
RHQ costs	2,282	2,022
Other direct costs	19,812	19,446
	85,624	99,236

	Total	Total
	funds	funds
	2023	2022
Insurance	1,532	1,533
RHQ administration	648	281
Other support costs	736	879
Governance	2,700	2,460
	5,616	5,153

			Grants to	Total
			Institutions	funds
			2023	2023
			E	E
Worcester Museum
			Grants to	Total
			Institutions	funds
			2022	2022
			E	E
Worcester Museum			100,000	100,000
Net income/(expenditure)
This is stated	after charging:
			2023	2022
			E	E
Depreciation	oftangible	fixed assets	3,506	3,506
Pension contributions			830	779
Independent	examiner's	fee	2,700	2,460

	2023	2022
Wages and salaries	40,145	38,457
Social security costs	3,199	2,866
Pension costs	830	779
	44,174	42,102

		Crockery
	Equipment	and cutlery	Total
Cost
At 1 April 2022	6,879	27,000	33,879
At 31 March 2023	6,879	27,000	33,879
Depreciation
At 1 April 2022	1,612	21,600	23,212
Charge for the year	806	2,700	3,506
At 31 March 2023	2,418	24,300	26,718
Net book value
At 31 March 2023	4,461	2,700	7,161
At 31 March 2022	5,267	5,400	10,667

			Listed
			investments
Cost or valuation
At 1 April 2022			3,021,105
Additions			734,875
Disposals			(610,284)
Revaluations			(243,212)
Cash trading	movements		(92,320)
At 31 March	2023		2,810,164
Net book value
At 31 March	2023		2,810,164
At 31 March	2022		3,021,105
Investments	at market value comprise:
		2023	2022
		F	F
Listed investments		2,655,582	2,854,838
Cash and cash equivalents		154,582	166,267
		2,810,164	3,021,105

		2023	2022
Trade debtors		19,608	17,949
Other debtors		139	42
Prepayments	and accrued income	1,078	3,502
		20,826	21,493

		2023	2022
Trade creditors		276
Accruals and deferred	income	29,182	117,503
		29,467	117,503

							Balance at
		Balance at 1			Transfers	Gains/	31 March
		April 2022	Income	Expenditure	in/(out)	(Losses)	2023
Unrestricted
funds
General	Funds	2,703,914	130,169	(123,546)	(6,679)	(174,599)	2,529,259
Restricted
funds
Crich		442,452	22,422	(27,864)	6,679	(18,316)	425,373
Total of	funds	3,146,366	152,591	(151,410)		(192,915)	2,954,632

Statemen	t offu	nds - prior year
							Balance at
		Balance at			Transfers	Gains/	31 March
		1 April 2021	Income	Expenditure	in/out	(Losses)	2022
Unrestricted
funds
General	Funds	2,700,566	120,552	(240,697)	(3,500)	126,993	2,703,914
Restricted
funds
Crich		423,399	20,011	(23,419)	3,500	18,961	442,452
Total of	funds	3,123,965	140,563	(264,116)		145,954	3,146,366

Analysis of net assets between funds - cur	rent year
	Unrestricted	Restricted	Total
	funds	funds	funds
	2023	2023	2023
Tangible fixed assets	7,161		7,161
Fixed asset investments	2,412,024	398,140	2,810,164
Current assets	132,629	34,135	166,764
Creditors due within one year	(22,555)	(6,902)	(26,457)
Total	2,529,259	425,373	2,954,632

	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2022	2022
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)
Ttl	2,703,914	442,452	3,146,366