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
> AUtsIT

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 6B7329l1-182C4FA￿A156£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 Reg￿MentS, 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-1B2C4F￿A15&¢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&A1￿CEsA9E4ECE0s
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 the￿r behalf by..
by..
Brig (Retd) P Kimber OBE
Deputy Colonel Finonce
Poge 7

DOCU￿9￿ 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 under10￿e 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 e￿ent 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

0￿usI9￿ Envelope ID.. eB7329l1-1B2c4F￿A1s6-¢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-.
DoruS￿nid 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.. 6B7329l1-1B2c4FA￿A15O-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-lB2C4FM￿A1s8-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.. 6B732911-1B2c4FW￿A1564E5AgE4FCE05
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-lB2C4FA￿A1s64EsA9E4ECE0s
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'. 6B7329I1-1B2C4FA￿A1S6¢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" 687329I1-1B2C4FM￿A156-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.. 6B732911-1B2c4FA￿AlS￿cE5A9E4E¢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-4F￿Al56-cEsA9E4ECE05
The Mercion Regimentol Charlty
Notes to the Finonc¢al Sitstements
For the Yeor Ended 51 Marth 2025
74.
cr￿ltOrs. 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.. 68732911-1B2c4F￿Al56-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