Docusign Envelope ID" 68732911-182C4FAO-A1564E5A9E4ECE05 Charity number: 1177059 The Mercion Re9imental Charity Trustees, Report and Flnonclol Stotements For the Year Ended 31 Norch 2025 rfIDAINS
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Docusign Envelope ID.. 6B732911-1B2C4FAO-A156-CE5A9E4ECE05 The Merdan Aegimental Charity ontents Page R•ference ond odministrative details of the CIO, its Trvstees and advisers Trustèes, report Independent examiner's rèport Stotèm*nt of flnonciol activities 10 8alance sheèt Notes to the financiol stotèments 12-28
Docuslgn Envelope ID.. 6B732911-1B2C4FAO.A15S-CE5A9E4ECE05 The Meroan Regimentol Charity Referen ond Administrative Detoils of the CIO. its Trustèes ond Advlsers For the Year Ended 31 March 2025 Trustees Lt Gen Sir lon Cave KCB. Choirmon ond Colonel of the Regiment Brig (Retcl) S 8onton OBE. Deputy Coloriel Heritage Brig (Retd) C Ginri CBE. Deputy Colonel CME Brig (Retd) P Kimber 08E. Deputy Colonel Flnonce Col (Retd) A Wolton NBE Ll Col G Brown. C01 Mercian (resioned 30 September 2025) Lt Col C Whilting. C04 Nercion (resigned ? Seprember 2025) Lt Col (Retd) M Jockson OBE Lt Col (Reid) N Mockintosh Moj (Reid) M 8onks Mr M Elliott Lt Col N Porkinson OBE. C01 Mercion (appointed 30 September 2025) Lt Col A Lowson C04 Mercion loppointecl I SÈptÈmb&r 20251 Chorlty registered number 1177059 Principal office Regimentol Heodquoners The Mercion Regiment Whittington Barrocks Lichtield Staflordshire WS14 9TJ Fintsncial secretory Mrs P Meor Accountants Dains Audit Limited 2 Chamberluin Sqvore Birmingham 63 SAX Bonker$ Lloyds 8onk plc 22 Conduil Street WS13 6JS CAF Bonk 25 Kings Hill Avenue West Molling ME19 4JQ Royol 8onk of Scoilond 200 Fowler Avenue Farnborough GU14 7JP Poge I
Docusign Envekipe ID 6B7329l1-182C4FAA156£E5A9E4ECE05 The Mercion Regimentol Charity Reference ond Administrative Detoils of the CIO. its Trustees ond Advisers (continued) For the Year Ended 31 March 2025 Investment Managers Rothbc>nes Group PIC 30 Greshom Street London EC2V 7QN Poge 2
Docusyn Envelop8 ID.. 6B732911-1B2C4FAlkA15&CESA9E4ECE05 The Merclan Regimental Chority Trustees, Aeport For the YeL)r Ended 31 March 2025 The Trustees present their onnuol report touether with the flnonciol sioiemenis ol the CIO for ihe yeor l April 2024 to 31 March 2025. Oblectlves ond grtivitiès o. PolieS•s and oblecttves The principol objectives of the The Nercion Regimental Chority ore. Promote the efficiency of the Regiment. Preserve memoriols ond chopels of the Règiment ond the former Regiments. Including preservation in perpetuity of Crich Memoricl ond grovnds Nake gronrs to ony other charity or orgonisotion for the benefit ol the Regiment or former Regiments. Provide for ihe Upkeep and maintenonce ol ony musevm of or related to the Regiment or former Reglmenrs ond their contents ond in ocquiring new exhibits. Provide for the preservotion, repoir. rnointenonce. replacement. sofe custody, ond exhibition of chattels. trophies ond memoriols of the Regiment ond the fc>rmer Regimenls. Provide for the cc>mpilation and reproduttion by printlng. photographing. or otherwise of records. hisiorles ond documents ol the Regiment ond former RegMentS, including the expenses of a Regimental Journol (known as rhe Mercicjn Eagle). newsle11er, ond website Mointoining ond preserving the troditions ond spirit of the Regiment ond the former Reoiments ond mointoining communicotion beiween post and present members of the Regiment and former Regiment& In setting objectives oncl plonning for octivities. the Trustees hove given due consideration to genertsl guidonce pvblished by ihe Charity Commission reloting lo public benefit, including the gvidonce'Public benefit.. running a chority (P821' b. Main octivitles Undertaken to further the CIO'S purposes for the pvblic bènefit The main cjctivities of the chorify to further Its charitoble purposes for the public benefit have been undertoken in the following oreas by.. Providing gronls for the efficiency of the Reoiment. ond to any other chority of the Regiment. for the benefit of the Regirnent or Ihe former RegimeDtS. Funding the mointenonce ond upkeep of the memoriols ond chopels of the Regiment, and its former Regiments. including The Crich Memtsriol Funding the mointenonce ond preservotlon of the chattels of the Regiment ond the former Regiments. Serving members of the Mercian Regiment ore eniitled to apply for gronts towords odvenrure troinlng ond sport. Doy's Poy scheme presentatioris ore given throughout the year to oll Serving members of the Mercion Regiment to keep them Informed of ihe benefiis of donoting ro iheir Regimentol Chariiies. Funding supporl is olso given to key Regimental events. inclvcling Remembronce and freedom porades Poge S
Docusign Envelope ID." 8B732911-1B2C4FAO-A156-CE5A9E4E¢EOS The Mercion RegSmeniol Chority Trusteesl Aeport (continued> For the Yeor Ended 51 Morch 2025 Achievements ond pèrformonce o. Moon ochievements of the CIO The lorgest portion of income for The Mercion Regimentol Chority Is monthly contributions made by serving members of The Mercion Regiment under o solory socrifice scheme callecl the Dtsy's Poy Scheme Reservists Joined the scheme In April 2018 The income Is paid to the Regimentol Chority ond 51% Is tron5ferred to The Mercion Benevolent Chority. The Regimeniol Chorily s shore rhls financial yeor wos £56K, this being (J slight Increase from the previous financiol yeors (2019.. £45K.. 2020.. £46K." 2021." £48K. 2022. £49K. 2023. £50K. 2024." £49K). Plans c¢>ntinue for rhe Loying up of the 2nd Bottolion's Colours. which will Include o freedom porode for The Mercion Regiment. where the Colours will be on parade lor the finol time. prior to them be presented to the Dean ot Lichfield Cothedrol, where they sholl remoin Crich The memorial garden at Crich wos formolly opened in June 2Q123 Incorporoted with the openin9 was the launch ol Crich Aemembrance ploques to raise some odditionol fund5. July 2023 w05 0 poignont yeor os it wos the Centenary of Crich.. sr wos morked by hosting o dinner the night before the Pilgrim(Jge ond a slightly more eloborote pilgrimage wa5 hosted commemorote the occasion. The site requires o sir on mower. which Is now ten yeors old. Investigations hove started to reploce the John Deere. b. Investment pollcy and performance An Investment strategy for the Chorify wos opproved by the Twstees. recoonlslng ihe long-lerm nature of the Charrty oncl its obligotions. The objective Is to grow rhe Income ond reserves of the Chority while hoving sufficient liquidity to meet foreseeoble needs in the short term. Investec Wealth ond Investment wos oppointed Investment Monoger In August 2012 The intention Is thot investments will be In o multi asset Income portfolio spreod ocross a number of collective Invesrmeni vehicles ond asset closse5. Financlal review o. Golng concern Alter mcJking oppropriote enquiries. the trustees hove o reosonoble expectotion that the Trust hos ocleqvote resources ro continue In operotionol exisience for the lore5eeoble future For this reason. they continue to odopl the going concern basis In preporifjg the finonciol sioiemeTrts In October 2018 the process w05 completed for Ironsferring the Mercion Regirnenrol Chority 1117653 ossers to the CIO registered 0$ The Mercion Regimental Charity 1177059 Poge 4
Docusign Envelope ID.. 6B7329ll-1B2C4FA15&¢EsA9E4ECE0s The Merciun Aeglmental Charity Trvstees, Report (continued> For the Yeor Ended 31 Morch 2025 b. Reserves pollcy The free reserves of the CIO totolled £148.701 or Ihe bolonce sheet dote12024 £126.939). The copitol osseis (minus the Bond Fund) of Mercitsn Regimentol Chority osseis represented within the osseis sholl noi fall below £1.75m. If thot level Is breoched ol ony time. expenditufe 5hcll be reduced $0 thot no further cosh Is dr(Jwn down to moke up onu deficit ol expenditure over income. Insieod. all income generoted by the remoining copiiol sholl be re-lnvested until the reserve level of £1.75m has been restored Crl¢h Restricted Fund within Mercian Regimental Chorlty The copitol value of the Crich Fund sholl not foll below £300.000 If that level Is breachecl (Jt ony fime, the trustees will review and reduce expenditure ond/or cause ts fund-roising comwlgn 10 be lounched ond/or tronsler copital from Mercion Regimeniol Chority. c. Principol fundSng The principle sources of fundirig for the Mercion Aegimentol Charity has been from the salory sacrifice scheme. referred ro os ihe 'Doys Poy Scheme. from serving members of the Mercion Regiment. The Charity olso receives dividend income from the investment portfolio. The resiricted fund Crich Memoriol Fund hos benelitted trom fundraising income where the organiser of the annual Mercion golf evenr spllt the proceeds betweell The Mercion Regiment Benevolent Choriiy and Crich. The Memori(Jl Fund 0150 receive5 some donoiions frtsm rhe public. directly Into the chority bonk occount Structure. gov•rnL)nce ond monogement a. Constitution Oecloroti¢>ns of Trust In relotion to The Mercian Regimeniol Choriiu ond The Mercion Regiment Benevolent Chority I'the Choritie5"1 were mode on 7th December 2006 and these were 5eoled by the Chority Commission on 23rd Jonuory 2007 The chorities were registered os linked choriiies with ihe Charity Registroiion No. 1717653 The Trusiees eleued to seporotely register The Mercion Regiment Benevolent Charity with effect from Ist April 2008. the Chority Commission ogreed ro ihis request. The chtsrities were creoied In anticipoiion of the lormotion of the Mercion Regiment on 21st August 2007 by the m&rger of the 22nd (Cheshire) ftegiment. The Worcester and Sherwood Foresters Regiment ond The Stoffordshire Regiment (The Prince of Wolegs) tooeiher wilh elements of the Wesl Midland5 Regiment. o Territoriol Army unil. All three regulor army regiments worked together to creote The Mercion Regimental Charity and ogreed thot on the formotion ol the new Reoimeni they woulcl transfer iheir choritoble osseis ond responsibilities to the Chorily. The Trugtees ogreed 10 tronsfer The Mercian Regimeritol Chority 1117653 trusi ro o choritoble incorporoted orgonisotion (CIO).The Mercion Regimentol Chority 1177059 CIO wos registered with the Chorily Commission on 8th Februory 2018 Page 5
Docusyn Envelope10." 6B732911.1B2c4FA&A1CEsA9E4ECE0s The Mercian Regimentol ChL)rity Trustees, Report (continued) For the Yeor Ended 31 March 2025 Structure, governance ond monogemèni (eontlnued) b. Methods of oppointmeni or election of Trustee5 The constitution of the CIO. doted 8th Februory 2018. storted with 15 trvstees ond state5 the composition of the Council being." The Colonel of rhe Regimeni. Deputy Colonels of the Regiment (Heritoge. previously referred io os RRCM now CHE. Finance & Benevolence). Commondino Officers. non-executive member plus non-voting members a secretary ond o rreosurer. The trustees are recorded in rhe register of members. c. Po16cles odopted for the indLtdion ond troining of Trustees The con5titutiori 5totes thor eoch new charity trustee will be provided o copy of rhe curreni consTitutlon ond o copu of the CIO'S laiest trustees report and sioiement of occounts. Selected trusiees ond sioff ortend seminars organised by ihe chorily's fund monogers that include governonce and Investment. d. Orgonisationol structure The trusiees. oll of whom are members of the Ctsuncil of the Mercion Regiment. meet biannuolly. There are subcommittees comprising of members where ot leost two ol them ore members of ihe Council. The subcommlliees hove clearly defined written terms of reference deoling with such matters 05 Heritoge. CNE. Finonce ond Associotitsns.. commiriee reports ore provided to the Council. Detoiled onnual budgets ore prepored ond submiiied to Ihe Council for opprovol. ond voriances scruiinised. The subcommittees meet at lea51 twice o yeor. overseeing oll aspects of the monagement of ihe finonces e. Finoncial risk manogèment The Trusiees hove o duty to identify ond review the risks io whlch ihe charitu Is exposed tsnd to ensure approprlote cor)trols ore In ploce to provide reosonoble assurance aguinst froud ond error Finonciol accounting bu the Finonce Officer is supervised by the Cholrmon of Ihe Finance Committee. The Chority employs o communicotions offlcer who works at the Lichlield RHQ The Chority olso ¢mploys a warden to coretoke the Crich siie ond It provided wilh tied occommodotion Plons for fLrture periods The Trustees ore plonning several events. one being loying up of 2nd Bottolion's Colour5. as well os a Mercian Regimentol Associotion eveni. some hosting, olong with the Dorrllol cyclicol events such os Ihe production of the onnuol iournol. Remembronce uncl onnuol pilorimoge, to nome but a few. The Trustees ond solicitor5 completed the tronsiiic>n of the Charity reoisterecf number 1117653 to o Choritoble Incorporoied Orgonisoiion i egistered number 1177059. the Choriiy Commission incorporated the CIO on 26th October 2018. Presentationg obc>ur the Merclon chorlties ond salary socrifice scheme ore plonned in the new finonciol yeor. for servlng personnel io Inform them of whot is ovoiloble to them ornd how they con donote to their chorlty. Poge 6
Docijsign Envelope ID.. 6B732911.182C4FAO-A156-CESA9E4ECE05 The Mercian Regimental Chor*ty Tru5t•ts' Rèport (centlnutd) Fgr the Year Ended 31 March 2025 Chattels These are comprised of Regimeniol irophles. plrtures ond silverware. much of which were preseniorion ond cosi is rK>i oscertainoble. Eoch month a section of chottels is checked ond onnuolly a full inspection 15 corrieol out. A new improved system is being investlgoted for presentation to the Trustees for their considerotion. With the news thot the 2nd Battalion wa5 to disbond. o consideroble omount of plannirig went Into the retrieving. pocking ond dispersino prior io rhe octual pack. The retrieval took ploce bvl unpocklng. cotologuing. restorarion where necessary ond reollocoting Is ongoing. Statement of Trustees, rÈsponsibllities The Trvstees ore responsible for preparing the Trustees, report ond the financial statements in accordunce with opplicable low ond Unired Kingdom Accounting Standards (United Kin9(Jom Generolly Accepted Accounring Proctice) The law opplicable to chorities in Englond & Woles requires the Trustees to prepure fimncial stotements for eoch finonciol yeor which give a true and fair wew of the siote of offoirs of the CIO ond of Its Incoming resources ond opplication of resources. including its income and expencliture. lor thot period. In preporing these financiol slotemenl5. the Trustees ore required to". select suitable occovnting policies ond then opplu them consistently.. observe the methods ond principles of the Chorities SORP (FRS 102).. mtske iudomenis ond occounting estimates thot ore reosonoble ond prvdent.. stote whether opplicoble UK Accounting Standards IFRS 102) hove been followed. subjeci to ony moteriol departures disclosed ond exploined in Ihe f1noncial stotement5.' prepare the financiol statements on the going concern bosis unle¥ It is Inappropriate to presume thot the CIO will continue in business. The Trustees ore responsible for keeping odequote occounting rectsrds thor ore sufficieni io show ond exploin rhe Cl(Ys Ironsactions disclose with reasonoble occurocy at any time the finonciol position of ihe CIO ond entsble them to ensure ihoi the finonciol statements comply with the Chorities Act 2Q11. the Charity (Accounts and Reports) Regulotltsns 2008 oncl the provisions of the Trust deecl. They ore olso responsible for sofeguarding the ossets of the CIO ond hence lor toking reosonoble steps for the prevention ond deteciion of froud ond other irregulorities. Approved by orcler of the members of the board of Trustees on 27 November 2025 ond slgned on ther behalf by.. by.. Brig (Retd) P Kimber OBE Deputy Colonel Finonce Poge 7
DOCU9 Envelope ID.. 6B732911-1B2C4FAO-A156-CE5A9E4ECE05 The Mercion Regimental Charity Independent Exominer's Report For the Yeor Ended 31 Morch 2025 Indeptndènt Examine$ Report to the Trustees of The Mertiaft Règimental Charfty Cthe Cl I report to the chority Trustees ori my exomination of the occounts of the CIO for the yeor ended 31 March 2025. Aesponslbilities ond Basls of Report As the Trustees of the CIO you ore respons1ble for rhe preporoiion of the occounts In tsccordonce wilh ihe requirements ol the Chorlties Act 2011 ('the 2011 Act,). 1 report in respect of my exominoiion of the CIO'S account5 carried out under seciion 145 of rhe 2011 Act and In corrying out my exominotion I have followed the opplicoble Directions given by the Chority Commission under section 14515Xb) ol the 2011 Act Independent Exominer's Statement Since the CIO'S gross Income exceeded £250.000 your examiner must be o member of o body Iisied In section 145 tsf the 2011 Af, I confirrri thot l am qualihed to under10e fkie exornination becou>e l am o meniber of ihe ICAEW. whiili is one ol the listed bodies. Your attention is drown io ihe foci ihot ihe CIO has prepared the occounts in occordonce with Accounting ond Reporting by Chorities". Stotement of Recommended Proctice opplicoble to chorities preporlng Their occovnis In occordonce with the Financiol Reporting Stondord opplicoble in the UK and Republic ol Irelond (FFIS 1021 in preference to the Accounring ond Aeporting by Charitie5." Stotemenr of Recommended Practice Issued on l April 2005 which is referred to in the exiont reguloiions bul hos been withdi"awn. l understand thot this hos tieen done in order for the occounts to provide o true ond foir view In accordonce with the Generolly Accepted Accounting Proctrice effective for reporiing periods beginning on or after l Jonuory 2015. I hove completed my exominotion. I confirm thot no motiers hove come to my attention in connection with the exafninotion giving me couse to believe that in ony materiol respett. occounting rectsrds were nor kept in respect of the CIO as required by settion 130 of ihe 2011 Act.. or the accounts do not accord wirh those records.. or the occounts do not comply with the oppllcoble requirements concerning ihe lorrr ond conieni of occounis sei ovl in the Chorities (Account5 ond Reports) Regulotions 2008 other than any requirement thut the uccounts give o true ond foirf view which Is not o matter considered os port of on independent examinotion. I have no concerns ond hove come ucross no other matters In cornnection with the exomination to which ottention should be drown in ihis report In order lo enoble o proper understonding of ihe occovnis to be reoched. This report Is made solely lo the CIO'S Trvsiees. os o body. in accordance with Port 4 of the Chortries (Accovnrs ond Reports) Regulations 2008 Ny wtsrk hos been vnderioken so that I might stole to the CIO'S Trustees those mtstters l om requirecl to siaie to them in an Independent exominer's repon ond for no other purpose. To the fullest eent permitted by low. I do not occept or assume responsibility to anyone other thon the CIO and the CIO'S Trustees os a body. for my work or for this repori. Page S
Docuwgn Envelope ID.. 6U732911-1B2C4FAlkA15&CESA9E4ECE05 The Mercian Regimental Charity Independent Examinerf5 Report (eontinved) For the Year Ended 31 Morch 2025 Signed." Doled." 27 November 2025 Andrew Morris FCA Doins Avdlt Limited 8irminghor Poge 9
0usI9 Envelope ID.. eB7329l1-1B2c4FA1s6-¢EsA9E4ECEOs The Mercian Regimentol Charity Stotement of financial octivities For the Year Ended 31 March 2025 Unrestricted funds 2025 Restrictèd Total Totol funds funds 2025 funds 2024 2025 Note Income from: Donotions and1egocies Fvndroising 60,208 107.149 167.357 151.765 15.613 10.417 26.030 40.202 Investments 68.501 11.658 80.159 82.712 Total incom* 144.322 129.224 273.546 274.679 Expenditvre on.. Rolsing funds Choritoble octlvities 71.234 6,794 78.028 89.884 93.516 29.820 123.336 214.391 Totol expenditure 164.750 36.614 201.364 304.275 Net income/{expendlture) before investment5 {20.428) (4.115) 92.610 72.782 (29.596) Net (losses)Igoins on Investments (3.270) 164.931 Net movemeni In funds (24.543} 93.455 68.912 155.335 Retonciliotion of furds.. Totol funds brought lorword Net movement In fur)ds 2.635.869 454.098 5.089.967 2.954,632 (24.543> 93.455 68.912 135.335 Tottsl funds corrled forword 2.611.326 547.553 3.158.879 3,089.967 The notes on poges 12 10 28 form port of these finofjciol stoternents. Page 10
Docusign Envelope ID.. 6B732911.1B2C4FAO-A156-CE5A9E4ECE05 The Mercian Regimental Chtsrity Registered nvmber.. Bolance sheet As ot 31 Morch 2025 2025 2024 Note Fixed o$$et$ Tangible ossets 6.891 3.655 Investments 12 3.003.287 2.927.172 3.010,178 2.930.827 CvrrÈnt ossots Debtors 13 35.970 45.110 Cosh ot bonk ond in hond 124.179 193.920 160.149 259.050 Current liobilities Creditors. omovnts follino dve within one year 14 01.448) (79.890) Net current assets 148,701 159.140 Totol net ossets 3.158.879 3.089.967 Chority funds Resrricted furid5 15 547.553 454,098 Unrestricted funds 15 2,611.326 2.635,869 Toial funds 3.158.879 3.089.967 The finonciol srotements were approved ond outhorised ftsr Issue by the TrLJStees on 27 November 2025 and signed on their behalf by-. DoruSnid by". Brig (Retd} P Kimber OBE Deputy Colonel Finonce The noies on poges 12 to 28 form ptsrt of these finonclol stotemenls. Poge 11
Docuslgn Envelopè ID". 68732911-1B2C4FAO-A156-CE5A9E4ECE05 The Mèreian Règimentol Charity Notes to the Finandol Stoiements For the Year Ended 31 Morch 2025 Generol information The Mercion Regimental Choriiy is o prlvoie Charitable Incorptsroted Orgonlsotion (CIO) registered wirh the Chorlty Commlssion in Erigland & Wales Its registered number and registered office oddress ore given on poge l. The CICYS objects ond prlncipol ortlV1ties ore set out in ihe Trusiees. Report Accounting policie5 2.1 Bosls of preparation of financial stotements The linoncial stotements hove been prepored in accordtsnce with the Chorilles SORP IFRS 1021 Accounting ond Reporiing by Chorities". Stotement of Recommended Proctice opp1icuble to chorities preporing their occounts in occordonce with the Financiol Reporiing Siondord opplicoble In the UK ond Republic of Irelond (FRS 102) (effeciive l Jonuory 20191. the FIDonciol Reporting Stondord opplicoble in the UK ond RepLJblic of Irelond (FRS 102) on(J the Chorifies Aci 2011. The finonciol siolements hove been prepL)red to give o 'true ond fairf view and hove deported from the Charities {Accounts ond Reports) Regulations 2008 only to the extent required to provide o 'true ond fair, view This deporture hos involved following the Chorities SORP IFRS 102) pvblished in Ociober 2019 roiher Ihon ihe Accounting ond Reporting by Chorllies. Srotemerit of Recommended Proctice effective from 1 April 2005 which hos since been withdrawn. The Mercian Regimeniol Chorify meets the definition ol o public benefit entity Under FRS 102. Assets ond Ilobilities ore Initiolly recognised at hisioricol cost or tronsoction volue unless oiherwlse stated in the relevont occounting policy. 2.2 Going Concern Afier moking oppropriate enquiries. the Trusiees hove o reosonuble expectation that the CIO hos adeovote resources to continue In operational existence for the foreseetrble future. For thi5 reason. they coritinue to adopt Ihe going concern bosis in preparing the finonciol sioiemenrs. 2.3 Income All income is recognlsed once the CIO has eniitlemeni io the Income. It is probable that the Income will be received and the omovni of income receivable con be meosured relioblu. The recognition of incoffle from legocies Is dependent on establishing entitlement. rhe probobllity of receipi ond the obility to estimate with sufficient occurocy the amount receivable. Evidence of entitlefllent to o legocy exists when the CIO hus sufficient evidence ihoi o gifi has been left to them (through knowledge of the existence of o volid will ond the cseath of the benefoctorl ond the executor 15 Sotlsfied that the property In question wll ntst be required to sotisfy claims in the esiote Recelp1 of o leoocu must be recognised when 11 is probable that It will be received ond the fair value of the omount receivable. which will 9enerolly be the expected cosh omount to be distributed io the CIO. con be reliably meosurecl. Income lox recoveroble In relotion to investrneni Income Is recognised at the time the investment incorlle is receivoble. Other income Is recognised in rhe period In which It Is receivoble ond ro Ihe exieni the goods hove been provided or on completion of the service. Page 12
Docusign Envelope ID.. 6B7329l1-1B2c4FAA15O-CE3AgE4ECEo5 Th• Mercian Regimentol Charity Notès to the Finonclal Stotements For the Year Ended 31 March 2025 A¢countlng polScies (contlnved) 2.4 Expendhure Expenditure Is recognised once there is o leg05 or constructive obligation to tronsfer economic benefit to o Ihlrd pony. il Is proboble ihat a transfer of economic beneflls wlll be required In settlement ond ihe omounl of the obligoiion con be meosured reliobly. Expenditure is clossified by octivity The costs of eoch octivily are mode up of the totol of direct cosis ond shored costs. Including support costs involved In undertaking eoch octivity. Direct costs attributoble to o single ocrivitu ore ollocoted directly io that activity Shored costs hich cc>niribule 10 more than one activity and support costs which ore not ottrlbutoble to o single oclivity ore apportioned beiween those octiviti¢s on o basis collsistent with the use of resources. Central stofl costs are allocated on the basis of time spent. ond depreciation charges allocuteol ori the portion ol the osset's use Expendilvre on roising funds includes oll expenditure incurred by the CIO to roise funds for its charituble purposes and Includes costs of oll fvndroislng Ociivities events and non-choritoble trading. Expendilvre on choriloble ociivities Is incurred on direttiy undertoklng rhe ocrivitles whlch further ihe CIO'S objectives. os well os ony ossocioted support costs. All expendiiure 15 Inclusive of irrecoveroble VAT. 2.5 Interest receivoble Interest on funds held on deposit is includecl when receivoble ond the cjmount cor) be measured reliably by the CIO.. this is normolly upon notificaknon of the intere91 paid or poyoble by ihe institutlon wilh whom rhe funds ore deposired 2.6 Tangible fixed tsssèts ond deprecfjaison Tongible fiyed ossets costing £1.000 or more are copitulisecl ond recognised when fvlvre economic benefits ore proboble ond the cost or volue of the ossel can be rneasured reliobly Tongible fixed assets ore Iniliolly reco9nised oi cost. Afier reco9nltion. under the cost model. tangible fixed ossets ore meosured at cost less accumulotecl depreciotion ond ony occumulated Impoirment losses. All cosrs incurred io bring a rongible fixed tssset into its intended workin9 conditlon should be Inclvded In the measurement of cost. Ai each reporting dcte the CIO ossesses whether there is ony Inclictstion of impairment. 11 such indication exists. the recoverable amounl of the osset is derermined to be the higher of its fair volue less cosis io sell ond lis volue In use An Impairrnent 1055 15 recognised where the corrying omount exceeds the recoveroble omouni. Poge 13
Docusign En¥Elope ID.. 68732911-lB2C4FMA1s8-cESA9E4ECE0s The Mercian Regimental Charity Notes to the Financbal Stotements For the Yeor Ended 51 Murch 2025 Accovntlng pollcles (continued) 2.6 Tangiblè fixed ossets and depreciation (continuèd) Deprecioiion Is chorged so os to olloeote the cost of iongible fixed ossets less their residual value over iheir estimated useful lives. using the stroight-line method. Depreciotion Is provided on the following bases. Plant and mochinery Equipment Crockery ond cutlery 10%-20% struight-line IOOA_20% straight-line IO% siroight-line 2.7 Investmènts Fixed ossei investments are a form of finonclol Instrument ond are initiolly recognised at their tronsoction cost ond subs&quenlly me¢Jsured ot foir value ut the 8olonce sheet dole. unless the value cannot be measured reliobly in hICh cose It 15 ieosvred ot cost le>S Impolrmynl Invesimeni ooins and losses. whether realised or unreolised. ore combined and presented as 'Goins/iLosses) on investmenis. In rhe sioiemeni of finoncial ortivities. 2.8 Oebtors Trode and other debtor5 are recognised 01 the settlement amount ofter any trode discourit offered. Prepoyments ore volLJed ot the amount prepoid ner of ony irode discounis due. 2.9 Cash at bank and in hand Cosh 01 bonk ond In hand Includes cash ond short-term highly liquid Investmerits with a short moturity of three months or less from ihe dote of ocquisition or opening of the deposit or similor account 2.10 Liabilitie5 Liobililies ore recognised when there is an obligotion ot the Bolonce sheet dote a5 a result of o past event, it Is proboble thot o tronsfer of economic benefrt will be required in settlement. ond the omount of the selllemenl con be estirnoted reliobly Liobililies are recognised ut the umouni ihoi the CIO onticipotes It will pay to settle ihe debt or the omovnt it hos received os odvanced poyments for the gooL1s or services It must provide. 2.11 Financial instruments The CIO only has finonciol ossets ond finonclol Iiobilities of o kind thot quolify os bosic finonciol instruments. Bosit finonciol instruments ore initially recognised or tronsoctic)n value ond subsequenily meosured or rhelr seiiiemeni volue with the exception of bunk loons whlch ore subsequently measured ot amortisecl cost using the effecrive Interest method P¢Jge 14
Docusign Envelote10.. 68732911-IB2C4FAO-A156LESA9E4ECE05 The Merclan Aegimental Chority Notes to the Flnoncial Statements For the Yèor Ended 31 Morch 2025 Aecouniing polScles (contlnved) 2.12 Pensions The CIO operotes o defined contribution pension scheme ond the pension chorge represents the amounts payable by the CIO to rhe fund in respect of the year. 2.13 Fund accounting General lunds are unrestrlcied funds which are available for use ot the discretion of the Trustees in fvrtheronce of the gerieral objectives of ihe CIO ond which have not been designoted for other purposes. Restricted funds ore funds which ore to be used in occorclonce with specific restrictions 1mposed by donors or which have been raised by the CIO for porticular purposes. The costs of roising cjnd odministering such funds ore chorged ogainst the specific fund. The oim ond use of each restricte(8 fund is sei out in Ihe notes to the finonciol srotements. Investmept income. guins and lo¢ses ore ollocoted to the opproprioie fund. Income from donaiions ond legacies Unrestricted funds Restrtcted funds 202S Total funds 2025 2025 Donotions 655 107 149 107.804 Subscriptions ond legocies orher voluntary Income 7.726 7.726 2.000 2.000 Doy's Poy Scheme 49.827 49.827 Totol 2025 60.208 107 149 167.357 Poge 15
Docusign En¥efope ID.. 6B732911-1B2c4FWA1564E5AgE4FCE05 The Mercian Regimentol Charity Notes to the Finonclal StotementS For the Year Ended 51 March 2025 Income from don¢Jtions ond legacles (continved) Unrestricted funds 2024 Restricted funcls 2024 Totol funds 2024 Oonoiions 82,941 7.785 90.724 Subscriptions ond legocies Other voluntary income 8.482 8.482 1.762 1.762 D(Jy's Poy Scheme 50.797 50.797 Tolol 2024 143.982 7.783 151.765 Income from fvndraising Income from fvndroising event5 Unrèstricted funds 2025 Reslricted funds 2025 Total funds 2025 Cor pork Field and stoble rentol 4.098 4.098 2.164 2.164 Tower admi5s10n 1.855 1.855 Cofé income 780 780 Shop Inctsme 9.613 9.615 Other income 6.000 1.520 7.520 Totol 2025 15.613 10.417 26.030 Poge 16
Docusyn Envelope ID.. 68732911-1B2C4FALkA156-CE5A9E4ECE05 The Mer¢lan Regimeniol Charity Notes to the Flnonclol Slotements For the Year Ended 31 Morch 2025 Income from fundraissng {continued) Income from fundrolsin9 evenis (continued) Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Car pork Fleld and stable rental 2.949 2.949 2.164 2.164 Tower odmlsslon 2.128 2.128 Colé income 325 325 Shop income 8.690 8.690 Oiher Income 10.342 13,604 23.946 Toiol 2024 19,032 21.170 40.202 Investment intomè Unrestricted fvnds 2025 Restricted funtls 2025 Totol funds 2025 Investment income 66.153 11.091 77.244 Deposit account Interest 2,348 567 2.915 Totol 2025 68.501 11.658 80.159 Unrestricted funds 2024 Restricted funds 2024 Totol funds 2024 1nvesiment income 68,181 11.966 80.147 Deposit occount Interest 2.565 2.S65 Tolal 2024 70,746 11.966 82.n2 Poge 17
Docuslgn ErTrvelope ID." 68732911-lB2C4FAA1s64EsA9E4ECE0s The Mercian Regimental Chority Notes to the Finoncial Staiements For the Year Ended 31 Mareh 2025 Expenditure on raising funds Investment monogement Unrestricted funds 2025 Aestricted funds 2025 Totol funds 2025 Investment management fees 15.951 2.974 18.925 Page 18
Docu51gn Envelope ID.. 6B732911-182C4FAO-A15&CE5A9E4ECEOS The Mercian Regimental Chorlty Notes to the Financial Stotements For the Yeor Ended 31 Morth 2025 Expendiiure on raising funds (continued) Investment monagement (contlnued) Unrestricted funds 2024 Re5tricteLI funds 2024 Total fLJnds 2024 Investment monogement fees 15.387 2.536 17.925 Fundroi$ing trading expenses Unrestricted funds 2025 Restrlcted funds 2025 Totol funds 2025 Goods for resole 14.898 14.898 Crich slte 3.820 3.820 Regimental dinner costs Events 4.940 4,940 8.500 8.500 Woges oncl solories Sociol securi1y Pension costs 24.503 2.100 2.100 542 542 55.285 3.820 59.105 Poge 19
Docusign Envelope ID." 6B732911.1B2C4FAIM15&CESA9E4ECE05 The Mercian Regimental CharSty Notes to the Financiol Statements For the Yeor Ended 31 March 2025 Expenditure on raising funds Icontinved) Unresirlcied fvnds 2024 Restricted funds 2024 Toiol funds 2024 Goods lor resale 9,970 9.970 Crich site 12.938 12.938 Events 15.084 15.084 Events 6.700 6.700 Wages and solaries Social security cosis 24,582 24.582 2.137 2.137 Pension costs 550 550 59.025 12.938 71.961 Anolysis of expenditure on charitoble octivitits Activities undertoken direttly 2025 Support costs Totol funds 2025 2025 Furtheronce of the choritu's object5 110.926 12.410 123,336 undertake directly Support costs 2024 2024 Total funds 2024 Furtherance of the churity's objects 208.853 5.558 214 391 Poge 20
DocLk8ign Envelope10'. 6B7329I1-1B2C4FAA1S6¢E5A9E4ECF05 Thè Mèrcian R•gimeniol Chority Notes to the Finonciol Stoiements For the Year Ended 31 Morch 2025 Analysis of expenditurè on chariioble octSvStles (contlnued) Analysis of direct costs Totol funds 2025 Totol funds 2024 Activities 2025 Staff costs 24.614 24,614 22.368 Depreciotion 1.065 1.06S 3.506 Marketing 27,850 27.850 23.956 Heritage costs RMAS officer 18.784 18.784 18.892 1.620 1.620 1.680 GIA for WorcÈ%ier Nuseum 100.000 Eagle journal costs RHQ costs Oiher direct costs 6,445 6.445 8,203 236 236 1.850 30.312 30.312 28.398 110.926 110.926 208.853 Analysis of support costs Total fvnds 2025 Totol funds 2024 Attivitits 2025 Insuronce 1,496 1.496 1,520 RHQ administrotion 344 344 112 Other support costs 7.506 7.306 956 Governonce 3,264 3.264 2.970 12.410 12.410 5,558 Pooe 21
Docusign Envelope 10.. 68732911.182C4FAO-A156-CE5A9E4ECE05 The Mercian Regimentol Charlty Notes to the Financial Stat•menis For the Yeor Ended 31 Morth 2025 Staff costs 202S 2024 Wages and scjlories Soclol security costs 46.613 45.179 3.922 3.724 Pengon costs 1.024 734 51.559 49.637 The overoge number ol persons employed by the CIO during the year was as follows.. 2025 2024 No. No. Staff No employee received remvnerolk)n amounting to more than £60.000 in either yeor. Trvstees, remuneration ond expenses During the yeor. no Trustees received ony remunerotion or other benefits (2024 - £NILI. During the yeor ended 31 Morch 2025. no Trustee expenses hove been incurred (2024 £NILI. 10. Net Sncome/(eKpenditure) 2025 2024 Depreciotion of tangible fixed ossets Penslon coniribulions 1.065 3.506 1.024 734 Independent exominerfs fee 3,200 2.970 Ptsge 22
Docuslgn Erwelope ID" 687329I1-1B2C4FMA156-CE5A9E4ECE05 The Mercian Regimental Charity Notès to the Finandal Statements For the Year Ended 31 M¢Jreh 2025 Tgngible fixed assets Plant and machsnery Crockery and cutlery Equipmènt Total Cost or voluotlon At l April 2024 6.879 27.000 33.879 Additions 4.301 4.301 At 31 Horch 2025 4.301 6.879 27.000 58.190 Depreciation Ai i April 2024 3,224 27.000 50.224 Churge for the year 260 805 1.065 At 31 March 2025 260 4.029 27.000 31.289 Net book value At 31 Morch 2025 4.041 2,850 6.891 At 31 Morch 2024 3.655 3.655 Poge 23
Docusign Envelope ID.. 6B732911-1B2c4FAAlScE5A9E4E¢E05 The Merclon Regimeniol Charity Notes to the Flnonclal SlQtements For the Yeor Ended 31 Mareh 2025 12. Flxed asset investrnents Listed Invtsiments C05t or voluotlon Al 7 April 2024 2.927.172 Additions 1.360.189 Disposols Revaluations 0.209.510> {9.270} Cosh trod1ng movements {65.294) At 31 Morch 2025 5.005.287 Net book volue At 31 Morch 2025 3.003.287 At 31 Morch 2024 2.927.172 13. Debtors 202$ 2024 Trocle debtors 26.899 27.525 Other debrors 269 Prepayments ond occrued Income 9.071 17.316 35,970 45,110 Poge 24
Docusign Envelope ID". 6B732911.lB2C-4FAl56-cEsA9E4ECE05 The Mercion Regimentol Charlty Notes to the Finonc¢al Sitstements For the Yeor Ended 51 Marth 2025 74. crltOrs. Amounts fglling dve within one yeor 2025 2024 Trade creditors Accrvols and deferred Income 11.448 79.887 11.448 79.890 Included in creditors is deferred income of £1.51312024 £1.313) In respeci of field renlol Income and fundraising events planned for the next linonciol year Page 25
Docuslgn EnvelopÈ ID. 6B732911_1B2C4FAO-A15&CE5A9E4ECE05 The Mercian Regimentol Charity Notes to the Finaneiol Statements For the Year Ended 31 Morth 2025 15. Stotement of fund$ Statement of funds- current year 8alance ot 1 April 2024 Gains/ Bolonce (Jt 37 (Losses) Morch 2025 Incomè Expenditure Unrestricted fvnds Generol Funds 2,635.869 144.322 1164.750) 14.115) 2.611.526 Restricted funds Crich 454.098 129.224 136.614) 845 547.553 Totol of fvnds 3.089,967 273.546 (201.3641 13.270) 3.158.879 The specific purposes for which funds ore 10 be opplied ore os follows.. Restricted Fund Crich The Mercion Regimental Wur Memoriul 15 Sltuoted in Crich. Derbyshire Annuolly a pilgrimoge is held at the 51te. There is o bungolow on srte. which is occupied by the Worden who Is employed by the Mercian Ae9imentol Charity. The Restircted fvnd poy for all ossociated costs for Crich. which include woges for the worcjen. ufility bllls for the tower and ony necessoru repolr5 ond grounds m()intenoftce expendilvre Income comes in Crich through visitors porking iheir cors on slte ond entry fees being paid to go up in the tower. The worden rvns o coffee shop of which o rent is poid to the chorify eoch month. Reni Is also received for the leiting out of fields. Poge 26
Docusign Envelope 10.. 68732911-1B2c4FAl56-cESA9E4EcEjfj Th• M•rcian Regimeniol Chgrity Notes to thè Finanelal Staiements For the Year Ended 31 Morch 2025 15. Stotement of funds (tontinuèd) Statèment of funds- prlor yeor Balance at Bolonce ot l April 2023 Tronsfers In/out Goin$/ (Losses) 51 Morch 2024 Income Expenditure Unrestrlcted funds General Funds- oll funds 2.529.259 235.760 (252.044) (13.826) 138.720 2.635.869 Resirlcted fvnds Crich 425.573 40,919 152.231) 15.826 26,211 454,098 Totol of funds 2.954.632 274.679 (304.2751 164.931 3.089.967 16. Anolysi5 of net assets between funds Anolysls of net ossets between funds - Current yeor Unrestritted funds 2025 Restricted funds 2025 Totol funds 2025 Tangible fixed as5et5 Flxed asset inveslments 5.850 1.041 6.891 2.483.912 519,575 5.005.287 Currenr ossets 131.559 28,590 160.149 Creditors due vAthin one year (9.995) 11.453) 111.448) Totol 2.611.326 S47.553 5.158.879 Page27
Docusign Envelope ID.. 6B732911-1B2C4FAO-A156-CE5A9E4ECE05 The Merclon Reglmentol Charity Notes to ihe Finoncial Statement5 For the Year Ended 31 Morch 2025 16. Analysis of net sjssets between funds (continued) Analysls of net os$et$ between funds- prior y•or Unrestricted funds 2024 Restricied funds 2024 Torol funds 2024 Ttsngible fixed ossets Fixed osset Investments 3.655 3.655 2.505.275 421.897 2.927.172 Current ossets 205.196 33.B34 239,030 Credirors due within one yeor {78.257) {1.6331 (79,8901 Totol 2.635,869 454.098 3.089.967 17. Pens6on commitment$ The charity operates o defined contribvtion pension schefne. The ossets ot the scheme ore held seporoielu from those of Ihe oroup In on independently odministered fund. The pensiori cost chorge represents coniribulions poyoble bg the group to the fund ancl omounred 10 £1.02412024 - £7341. No amounts were outstanding ot eilher bolonce sheer dole. The pension expense is ullocoted to resiricted fLJnds on the bosis thot one member of sioff Is employed ro work oi the Crich sire ond therefore thoi employee's pension cost Is Ireoled as restrictecl. 18. Aeloted party trans¢J¢tions The Mercion Regiment Benevolent Charity (registered chorlty nLJmber 1125179) is o reluted party by virtue ol being governed by ihe some boord of trustees At the bo5once sheet dote. on omount of £NIl (2024 £NIl) wos owed from The Mercion Re9iment Benevolent Charity. Po9e 28