REGISTERED CHARITY NUMBER: 1185298
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
THE ADJUTANT GENERAL'S CORPS ASSOCIATION
Rothmans Audit LLP
Chartered Accountants & Statutory Auditors
Avebury House
st Peter Street
nchesler
Hampshire
S023 88N

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
R•port of th• Trust•88
1 to 7
R•port of the Indeynd•nt Audltor4
8 to 11
St*tsm•nt of Flnanclal ActlvltS•8
12
Balanc• Sh•et
13
CaBh Flow Statsm•nt
74
Not•• to the Cash Flow Statem?nt
15
NoteB to the FinancSal St*t¢m•nts
16 to 26
D•tall•d Stat•m•nt of Flnanclal Actlviti
27 to 28

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
1. The trustees present their ￿port wrth the financial statements of the ¢harity for the year ended
31 December 2021. The Iru5tee5 have adopted the provisions of Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accoun15 in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Irelantj IFRS 1021 leffective 1
January 20191.
REFERENCE AND ADMINISTRATIVE DETAILS
2. The officAI name of the Charity is The Adjutsnl General's Corps Associatyon.
R•glst•r•d Charlty Numb•r.' 1185298.
Prfnclpal Office
Headquarters Adjutant General's Corps
The Gloucester Building
Worthy Oown
Winchester
S0212RG
Telephone..
Website..
Email..
0300 1533 4B6
www.agcassociation.co.uk
corpshq@oudook.com
3. Tru¥tso# •nd Offi¢•rn ¢f the Charlty
The Trustees of the Charity are..
Colonel Suzanne Jane Holmes ADC (From 2 March 2020 to 4 June 20211
Colonel Victoria Whiting ADG (from 4 June 20211
Colonel (Retired) Karen Graham OBE I to 5 October 20221
Lieutènant Colonel Paula Janet Nicholas MBE I to 06 April 20221
Lieutenant Colonel John Aecock l from 29 April 20221
Warrant Officer Class 1 Icorps Sergeant Majorl Andrew Heron I to 6 April 20221
Warrant Officer Class 1 Icorps Sergeant Majoil Wayne Heathcole l from 8 April 2022)
Colonel Scott Martin Vardy
Colonel Sarah Louise Pringle-smilh lfrom 6 April 2020 to 13 July 20211
Colonel Scott Meredith Ideceasedl (from 13 July 202110 6 April 20221
Colonel Douglas Hutchinson (from 6 April 20221
Lieutenant Colonel James Anthony Mullen Carmichael (from 7 October 2020 to 4 October 20211
Lieutenant Colonel Helen Bowman (from 4 October 20211
Colonel Colette Macdonald OBE lfrom 25 September 2020 to 13 July 20211
Colonel Matthew Ketterer (from 13 July 2021 to 5 October 20221
Colonel CT8ig Terblanche l from 5 October 20221
The Executive Officers conducting the day to day operations of the Charty are..
Lieutenant Colonel (Reti￿dI Michael John Robert Cotton MBE Icotps Secretsryl
Major (Reliredl Joseph Bright M8E (Assistant Corps Secretary) l Reb'red on 20 May 20221
Page 3

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Auditorn
Rothmans Audrt LLP
Avebury House
6 Sl Peter Street
nchester
S023 8BN
6. Ind•p•ndont Advisor
Brigadier (Reliredl Noel
Muddiman CBE
8 Wldwood Close
Okl Harlow
Essex
CM17 OJD
7. L•gal Advi80rn
Blake Morgan LLP
New Kings Court
Tollgate
Chandle¢s Ford
Eastleigh
S053 3LG
B•nktrrn
Royal Bank of S￿lland
Holt's Military Banking
200 Fowler Avenue
FoW￿r Business Park
Famborough
GU14 7JP
STRUCTURE. GOVERNANCE AND IMNAGEMENT
8. Gov•mlng doeum•nt
The Objects of the Charity are laid down in the Constitution Docun*nl. Thg Prin￿paI Objects are to
promote the efficiency ofthe Corps by maintaining contact be￿een the present and past n￿MberS ofthg
Adjutant General's Corps and the forn￿[ ts)nststuent corps and to foster esprit de corps, comradeship,
welfare of the Adjutsnt Gengral's Corps and to preserve it5 trad￿On$. The Association exists to SLtpport
the present and past members of the Adjutant General's Corps and their de￿ndants, who are in genuine
need, suffering hardship or distress.
9. T￿￿tea¥
There may be up to eight Appointed TNstees and four Nominated Trustees. Each of the four Branches of
the Corps may propose a person who act as a Nominated TNstee in ac￿rdanCe with the Consbtution
ument. All Twstees attend Trustees Training and a training I￿r￿ is kept.
10. Oryanlsatlonal Structure
Day to day management of the Assocration is delegated lo the Assistsnl Corps Secretary who consu
with the Corps Secretary and the Colonel AGC when requirgd. These personnel are employed by the Army
and dona¢e their services to the chanty.
11. B•n•vol•n¢•
The Trustees have delegated the management of bgnevobnce to the BeneVO￿nCe Committee who are
empowered to approve grants for benevolence cases lo a maximum of £3.000 for any one case. During
the year. additional funding for benevolence was provmded Irom other A880uab"ons, The Royal British
Legion, ABF The Soldiers Charrty and other Chantable Organisations.
12. Risk M•nag•m•nt
The major risks lo which the Charity is exposed, as identified by the Trustees, have been revwed and
systems have been established to manage those risks. The key risks identified by the Trustee5 indude
the following..
Finance.. Risk that Statutory Accounts are not prepared appropri81ety and filed on a timely basis.
Risk mitigated, as Assouation has apF*)inted a qualified Chartered Accounlanl as the FinanrE
Manager.
Risk that there is insufficient in¢omè to cover costs and benevolent payments. Risk as
Trustees have implemented rigorous controls over future spending.
Human Resources.. Risk that there Is 8 loss ofexperiènce, corporate kno￿edge and skills, due to gapping
and service efficiencies. Risk miligaled through training and rediStribut￿n of responsibilit￿.
Page 2

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
13. Publlc B•n¥fft
The Trustees have paid due regard lo the Charity Commission's guidance on publ￿ benefit in deciding
what activities the charty should undertake. The fund provides public benefit by assisting serV￿e
personnel of the Adjutant General's Corps to more effecb'vely perfomi their roles within the British Army.
11 d￿S this by providing support for benevolence, welfare, sports and recreational activities. This
assistsnce enables service personnel to face the challenges antj dangers associated with military SerV￿e
by developing and maintaining teamwork, fitness, character, spirit and morale. By Supporting t)oth the
seNing and the retired communth'es, it embraces esprit de corps by promoting the concept of'support for
life,. As a result, the Adjutsnl General's Corps Association prornoles the efficiency of the Armed Forces of
the Crown by enhancing the British Army's capabilty to undertake the roles demanded of it, in¢luding the
defence of the United Kingdom and its interests.
OBJECTIVES AND ACTIVITIES
14. Objects of the AssoclatSon
The objects ofthe Association are lo promote the efficiency ofthe Adjutant General's Corps IAGCI in Suth
ways as the Trustees shall think fit in particular but not exclusively by-.
Maintaining contact be￿een the members of the AGC andlor the fomier conslftuenl Corps.
b. Fostering espnt de rLJrps.
c. The protection and advancement of the heritage and ethos of the AGC.
d. The rel￿f of members and former members of the AGC andlor members of the former conslrtuent
Corps, in the event the fomier ¢onstsiuent Corps, benevolent funds fail and their dependants, who a
in need by reason of their youth, age, infirmity or disability, financial hardship or social Circumstances.
15. P.owern of the Association
The CIO has the power lo do anything that is cakul8led lo luther ts Objects or is conducNe or incK1entsl
to doing 30. In particular, the CIO has the power to..
a. Take all necessary action for publicising and disseminating infomiation, including bltt not limited to.
the histories. deeds and trad((￿n$ ofthe CIO and the AGC.
b. Borrow money and to charge the whole or any part ol its propety as security for the repayment of the
money b¢rrowed. The CIO musl comply as appropriate with seth.ons 124 and 125 oflhe Charities Act
2011, if it wishes to mortgage the land.
c. Buy, take on lease or in ¢xchange. hire or othe￿1$¢ acquire any Pfopety, maintain and equip it for
use.
d. Sell, lease or otherwise dispose of all or any part of the proFerty belonging to the CIO. In exercising
this power, the CIO must comply as approprrate with sections 117 and 119 to 123 of the Charth'es Act
2011.
e. Empby and r&mun&r*e such Staff as are necessary for carrying out the woth of the CIO. The CIO
may employ or remunerate a Trustee onty to the extent that il is perm¢tt&J to do so by clause 6 and
provhled it complies with the condits'ons of that clause.
Deposit or investfunds, employ a professional lund-manager, and arrange forthe investments OT Other
propety of the CIO to be held in the name of a nominee. This Is ￿rried out in the same manner and
subject lo the Same condf(ion5 as the trustees of a trust are permitted lo do by the Trustee Act 2000
and do anything else wrthin the law that promotes or helps to pron￿te the Objects.
Page 3

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
16. Objocthim For th• Y••r
The main objectwes fr)r the year were".
a. To respond qUI￿Y and ￿mpaSsIOnate￿ to requests for benevolence assistance.
b. To provbde support for serving personnel who are injured or are suffenng with pwr health, by way of
finanaal assistance Whe￿ needed OT appfopri*e.
c. To provide support lo the next of kin and tsmily of those seNing and ex-serving who had suffered
bereavemgnt.
d. To provide for social gatherings for serving and rth'red rmmbers in order to foster Comradeship and
esprit de ¢orp$.
e. To in¢rea$e the level of subs¢rit•rs to the As6oci8ti0n.
f. To produce a high qualty Corp$ Magazine IAGC Joumal}.
g. To enhance the quality and types of Cory)s Sport, erthuraging the widost participation, part￿UI0rty
by the t7KJre junior officers and soldiers.
ACHIEVEMENT AND PERFORMAt4CE
17. All the main obj'ectives for the yearwere achieved.
18. The BenevoKgnce Committee provided finanaal assistance lo those who were in genuine ne811 or suffering
hardship. This included assistance wth priorty debts, rent and c4JunciI tsx arrears, rentadvance, purchase
of essentol household ite￿. travel costs, purchase of Items for children and grants for general needs.
The Number of benefi¢iaries of tenevolenee grants was 92 members and the total ar￿Unt granted from
the AssociatK)n vras £50,468.
19. The Trustees extend their thanks lo The Royal British LegH)n, other Associations and ABF The Soldiefs
Charity for their generosty over the past year to the memters ofthe A5sociatson who have required
8SSiStancg. The Associabon donatsd £55,000 to the Amiy Benevolent Fund.
20. The A550u'ation provided support for social gathering$ to foster comradeship and g$Prit de corps, bul
was constrained by the effects ofthe pandem￿. The AssociatKsn expended £48,087 on fraternaj grants
throughout the year.
21. The Asscciation expended £144,251 on sporting actNf(ies throughout the year, tr4Jl many planneil events
were cancelled or postponed due lo the pandèmic. The Trustees extend their thanks to the Army Sports
Control Board frjr the grant of £50,000 1¢)wards sports costs.
22. The Association fvnded tt)e constnjction of a Nepalese Messing Facilty at Worthy Dtrwn. wrth grants
received from the Brigade of Gurkhas and Royal Logists"c Corps. The Facilty will be available to all
personnel who vi8it or are completing training at Worthy D￿, as well as permanent staff.
23. The AGC Holiday Homes are 2 static ¢ar8vans and a lodge split befvRen Devon and the Lake District
that are available lo AGC wrving personnel & veterans to book at a heavity subsidise(I rats. Several
weeks of the year they are gwen over to welfarelo)mpa5sionale ¢a$es at zero cost to the beneficiary.
They are nornwlly run at a loss. This year they turned a cash profil of £10,476. This increase was due to
a 2020 repayment of £4,131 for non-use during bckdown, and a reductth in VAT rates. However after
deducb'ng dgpreciation of £26.787, there is a n*t k)ss of £16,311.
Page 4

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 310ECEMBER 2021
24. The Association awarded a grant of £19,500 to the AGC mvseum. The Museum is open to all serving
personnel and veterans and offers free enty.
25. The annual commemoratitsn service 81 the AGC plot al the National Memorial Arboretum was held on 28
September 2021. The fomial opening of the Field of Remembrance al We5tminsler Abbey in November
2021 was carried out ￿UCed attendance due to construction work at the Abbey.
26. The work of the Association and the benefits provided are briefed lo all new officers and soldiers,
encouraging them to join. We are pleased to report that alnTh)st 100% of new entrants join the One Day's
Pay Scheme 8nd subscribe to the Association
27. The Adjutant General's Corps Association Icharitable Incorptsraled Organisalion ICIOI wislere¢ charity
number 11852981 was fomied on the 13th of September 2019 from the Adjutant General's COTPS
Regimental A550cialion and the Adjulanl General's Corps Inslrtulion. Our legal advisers have camed out
the merge with the Charities Commission and the tsyo forrner charities have been renKiv¢d from the
Charyty Commission register.
FINANCIAL REVIEW
28. R•ser¥es Policy
The current level of reserves is £8.4m, ofwhi¢h £7m is held in Investrnents. The polry for ihe Reserves of
trTre Ass(ti*ion is to enable the Association to meet the fvture benevolence costs ofthe increasing number
of members of the A550ryalion and their dependants who are the beneficiaries and the reserves shoukl not
be ¢a11ed Upon unts'l 2047. Investment growth that is not used for day-to4ay business is invested in the
Amed Forces Common Investment Fund IAFCIFI, the CCLA Property Fund. The Charities Propety Fund,
The Sara5in Food & Agricultural Opportunities Fund and the Charity Equity Fund.
29. Prin¢ipal Fundlng Sourc88
Subscriptions from serv1ng and Volunteer Reserve members ofthe Day's Pay Scheme were credited to the
Association Fund. Subscriptions from rank range Sergeant to WaTrant OfficeT Class 1 were collecte{1 al
120% of one day's pay The additional 20% was retsined in the fun¢J for exclusive use of the Corps
Sergeants Mess Subs¢nptions from officers were collected al 150% of one day's pay. The addf(ional 50%
was transferred to the Headquarters Officers, Mess Account. Subscription5 received from retired members
along with grft aid receipts were credited to the Association Fund.
30. The charity d￿S not fvndraise extemally and does not therefore subscribe to any schemes or stsndards
for funOrais1ng regulat￿n. There have been no complaints about fundraising activr(￿S in the period.
Investments
31. On the fom*ion ol the AsSociat￿n, the Trustees recognise(I the need to establish long-lerrn finanoal
reserves and therefts￿ continuè to maintain an investment portfolio on behalf ol the Association. The
investment policy is to incTease the value of the fund in orderto provide a reserve forthe fvlure benevolence
ngeds of the growing membership of the Asso¢ialioft and their dependants.
FUTURE OEVELOPMENTS
32. Following the Integrated Review. and eonsequent reduction in the Amy's manp¢)wer. il 1$ expected that
through 2022 and out to 2025 there will be a steady and gradL5al reduction of the income from thè One
Day's Pay Scheme as restructuring takes place Expenditure, depressed for the last 2 year5, is expected
to ￿turn to, and indeed exceed, pre-pandemic levels dvnng thè course of 2022.
33. 2022 is the 30th Anniversary of the formation of the COTPS. To celebrate the Associats'on will fund several
extrdordinary events. including an All Ranks Dinner Night in April, the unveiling of a Lion Monument,
fe5ts"vallfrdmilies day at Worthy Down in Juw, a Freedom Parade through Vmnchesler in October, and finally
a carol Service in Win¢hesler Cathedral In November.
Page 5

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
34. An Actuarial Review was conducle<l by Management Accountancy Services IAmyl.11 ￿pOrted in April
2022 and recommended that the AGC Trustees maintsin the ¢urrent Investments and Reserve5 pol
within the 40 year projection induded in their ￿POrt. The aim of the review is to ascertain the predicted
sl of benevolence taking into account inflation and the anb'cipated rise in potential beneficiaries. The.
AGC Association Board of Trustees met in April 2022 to discuss whether current reserves are sufficient
to meet the fvlure negd. The Trustees voted to keep the amount of fvnds ringlenced for benevoler
at the previousty agreed rale of £5m +1%+inflation.
35. In 2021 the AGC Council voted in a new cypher to replace the existing cap batjge, and approved
changes to some cap badge ￿cOul￿Ments. The new cypher will go live in Apr 22 on the dale of the
anniversary. This will incur significant ¢osl as ￿gImental accoutrements (cap badge Tactical
Recognib"on Flashes, badges, tets etcl are repla&*l. all brdnding is refreshgd and sports teams
purchase new dothing el¢.
FUNDS HELD AS CUSTODIAN FOR OTHERS
36. The Adjutant General's Corps AsstthatK)n does not hold any assets on behamof other charities.
Page 6

THE ADJUTANT GENERAL'S CORPS Assoc￿￿oN
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
STATEMENT OF TRUSTEES. RESPONSIBILITIES - eontlnu•d
The tnjstees are responsible for preparing the Report ol the Twstees and the financial statements in
a￿OrdanCe wrth applicable law and Unit&J Kingdom Accounting Standards IUnf(ed Kingdom Generalty
Accepted Accounting Pracbcel.
The law applicable to charities in England and Wales requires the Iru5tees lo p￿pa￿ financial ststements for
each financial year which give a true and fair view of the state of affairs of the charity and of the Incoming
resources and application of resources, of the charity for that period. In preparing those financial stateThents,
the INslees a￿ requ1red lo
select surtable accounting poliues and then apply them consislenuy,.
observe the methods and principles in the Charity SORP,.
make judgements and estimate5 that are ￿aSOnable and prudent.,
state whether applicable accounting standards have been followed, subj'ect to any material departures
di￿10$ed 8nd expi8ined in the financial statements.,
P￿pare the financial staterrEnts on the going concern basis unless it is inapproprFate to p￿sume th* the
charity will continue in business.
The trustees are responsible for keeping sufficient ac￿UntIng recor¢Js that disdose with reasonable accuracy
al any lime the financial position of the chanty and lo enable them lo ensure that the financral stslements
comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions
of the trust deed. They are also responsible for Safeguarding the assets of the charity and hence for tsking
reasonable step5 for the p￿VentIOn and detection of fraud and other irregularrties.
The trustees are Tesponsible for the maintenan¢e 8nd integrity of the charty and financial infom81ion included
on the charty's websrte Legislation in the United Kingdom goveming the p￿paratIon and dissernination of
financial statements may differ from Wis18b"on in other jurisdictions.
In so far as the trustees a￿ awa￿..
the￿ 1$ no rèlevant audit informatK)n of which the charity's audthrs are unaware., and
the Iru51ee5 have taken all slep$ that they ought to have taken lo make theMse￿eS aware of any ￿￿vant
audit information and lo e5tabli5h that the audrtors are aware of that information.
AUDITORS
The auditors, Rolhmans Audf( LLP, wlll be proposed for re-appointment al the forthcoming Annual General
Meeting.
ON BEHALF OF THE BOARD..
Lieutenant Colonel John Wecock
Colonel Scott Vardy
Dale".
19 Ock.￿ffi ?021
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE ADJUTANT GENERAL'S CORPS ASSOCIATION
OplnSon
We have audrted the financial stst8mènts of The Adjutant General's Corps Assocjation Ithe 'charty'l for the
year ended 31 DecEmbeT 2021 wh￿h (x)mprise the Statement of Financial ActNilies, the Balance Sheet. the
Cash Flow Ststement and notes to the financial statements, including a summary of signfficant xcounting
policies. The financial reporting framework that has been applied in their p￿Parat￿n is appIl￿b￿8 law and
Unf(ed lQngdom Accounbng Standards (United lQ'ng¢Jom Generalty AccEpted Accounting Practice).
In OUT opinion the financial stslements..
give a true and fair view of the stste of the charity's affairs as at 31 December 2021 and of its in¢oming
resources and application of resources, induding its income and expendf(ure, for the year then ended.,
have been propety p￿Pared in accordance wth Unrted ￿'ngdorn Generalty Accepted Accounting Practice.,
and
have t4en prepared in ￿￿rdance with the requitemènts of the Chanties Act 2011.
Basls for oplnlon
We conducted our audit in accnrdance with lntemab.onal Stsndards on Auditing IUKI IISAS IUKII and
appli(8ble law. Our resw)n$ibilities underthose standard5 are fijrther described in the Auditors, responsibilities
for the audit ofthe financial stslements section ofour reporL We are independent ofthe charity in accordance
with the ethul requirements that are resevanl to Ouf audit ofthe financial ststements in the UK, induding the
FRC'S Ethical Standard, and we have fvlfilled our other ethical responsibilit￿ in accortjance with Iheso
requirements. We believe that the au¢Jit eviden￿ we have obtained is sufficient and appropriate lo provide a
basis for our opinK•n.
Conclusion8 rolating to going COn￿M
In auditing the financial statements, we have e£)ncluded that the trustees, use of the going ¢onc8m basis of
accounting in the preparation of the financial ststements is appropriafe.
Based on the work we have performed. we have not identified any material uncertainties rolating to eV￿ts or
condthons that, ind¢vidualW or collectivety, rnay cast signrficanl doubl on the Charity's ability to continue as a
goiftg ¢oneem for a wriod of al least ￿￿1ve months from when the financial statements are authorised for
issue.
Our ￿$￿￿$1b11ths and the responsibilities of the trustoes with reS￿t to going Car￿eM are described in the
relevant sectv)ns of this reporL
Othér Infomatlon
The trustees are responsible for the other informali¢M. The other infom)ats"on comprises the inf0m￿tion
induded in the Annual Report, otherthan the financial statements and OUT Report ofthe Independent Auditors
thereon.
Our opinion on the financial statements does not cover tho Other infomation and, exeepl to the extent
otheThvsse expliaty stated in our rem we do not express any 10rn7 of assurance conclusion thereon.
In connectKJn wfth our aud(( of the financial slaterrEnts. our responsibility is to read the other informatK)n and.
in doing so, consitler whether the other information is materialty inconsistent with the financial stslements or
our knowledge obtained in theaudf(or otherwise appears to be materialty misstated. Ifwe identify such malellal
inconsistencies or apparent materval misstatements. we are required to deterniine whether this gives rise to a
material misstatement in the financial statements themselves. If, based on the work we have perforn)ed, we.
condude that Ihorg is ¥ matsrial misstatement ofthis other infomiation. we aro required to rop)rt that fact
IA* ha￿ nothing to report in this regard.
Page 8

REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES OF
THE ADJUTANT GENERAL'S CORPS ASSOCIATION
Matters on whlch w• ar• r•qulred to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in thg course of
the aud¢ we have not idenlffied material misstatements in the trustees, reporL
We have nothing lo ￿pOrt in respect of the following matters where the Charities (Accounts and Reports}
Regulations 2008 requires vs lo report lo you if, in our opinion..
the infom*on given in the R8pDrt of the Trustees is inconsislenl in any material respect wf(h the financial
Statements,. or
Sufficient accounting records have not been kept,. or
the financial statemènts a￿ not in agreement with the accounkn'ng records,. or
we have not rwived all the information and explanations we ￿qUi￿ for our audr(.
R￿ponsIbl1ft1QS of trustees
A5 expl81ned more fvlly in the Statement of Trustees, Responsibilities. the trustees are responsible f¢r the
prepafation of the financial stslemenls and for being satisfied that they give 8 true and fair view, and for such
inlemal control as the trustee5 delemine is necessary to enable the preparation of financial statements that
are free from matsrial mis$tatemenl. whether due to fraud or error.
In preparing the financial statements, the Iruslees are responsible for assessing the chanty's abilty to continue
as a going concern, disclosing, as applicable. matters related to going ¢on¢em and using the going concem
basis of accounting unless the trustees either intend to liquidate the charity or lo cease operations, or have no
realisb'¢ altemative bul lo do $0.
Our respon$lbilltl•s for the audit of the fin¥n¢i•l $tatèmènts
We have been appointed as auditors under Section 144 of the Chartti8s Act 2011 and report in accordance
wth the Act and relevant regulab'ons made or having effect thereunder.
Our objectives are lo obtain ieasonable assurance aboutwhelher the financial statements as a Who￿ are free
from materi81 misstatement, whether due to fraud or error. and to issue a Report of the Independent Auditors
that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an
audit conducted in accordance with ISAS IUKI will ?￿yS detect a material misstatement when rt exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the a99￿gate,
they could ￿asonabty be expected lo influence the econornic decisions of users taken on the basis of these
financial stslenwnts.
Irregularities. including fraud, are instsnces of non<omplrance with 18ws and regulations. We design
procedures in line wth Ouf responsibilities, outlined above. lo detect material misstatements in respect of
irregulaTlties, including fraud. The extent to whTch our procedu￿5 are capable of detecting irreJuL4rilie$,
including fraud is detailed below..
Th• extent to which the audit w•$ ¢onsld•r•d capable ol dtte¢tlng Irrngularftles including fraud
Our approach to idenknfying and assessing the risks of rnalerial misstatement in res￿ of irwul8Titi8$,
including fraud and non-compliance with laws and regulations, was as follows."
the engagement partner ensured that the eng8gemenl team collectivety had the appropriate
mpetence, capabilities and skills to identify or recognise non<ompliance with applicable laws and
regul8b"ons-.
we identified the laws and ￿gUlationS applicable to the charity through discussions with the trustees
and other management, and from our knowledge and experience of the charities sector."
we focused on specific laws and wulalions which we considered may have 8 diwl material effect
on the financial statements or the operations of the charity. including the charib.es Act 2011.
we assessed the extent of ￿mplianCe with the laws and regulation5 idenb.fied above through making
enquiries of management and inspecting legal correspondence. The identrfied laws and regulations
were communicated within the audit team regularfy and the team remained alert to instances of non-
compliance throughout the audit.
Page 9

REPORT OF THE IhlDEPENDENT AuDrroRS TO THE TRUSTEES OF
THE ADJUTANT GENERAL'S CORPS ASSOCiATION
We assessed the susceptibility of the chanty's financial statemonts to material misstaterrEnt, induding
obtsining an understsnding of how fraud might occur, by..
making enquiries of mana9ement as to where they considered there was susceptibility to fraud, thoir
knowledge of actual. suspected and alleged fraud., and
considering the intemal ¢ontrols in place to mitigate risks of fraud and non-¢¢)mpliance with laws and
regulations.
To ￿dresS the risk of fraud through management bias and overritje of ￿ntrolS, we..
performed analytical Pr(￿edUreS to ￿enIty any unusual or unexpect￿1 ￿lationShIPs.,
tested journal entries during the year and at the year-end lo idenlfy unusual transactions,.
assessed whether judgements and asSUmpt￿nS made in detemining the w)unting eslim8les set
were indi¢ativ$ of potential bias.,
investigated the r*ionale behind stgnificant or unusual transactions..
In resp)nse lo the risk of lrregularrt￿S and n0t)-Q)mplk4n￿wlth laws and regu*sns. we designed procedures
vthich included. bul were not limited lo..
agreeing financial statement disclosures to undertying SUPPOTting decajmentation;
reading the minutes of meetin9s of those charged with governance.,
enquiring of management as to actual and potential lits"gats"on and claims,.
reviewing correspondence wth ielevanl regulalots and the ¢hanty's advisors," and
reviewed legal and professional expenditure inrjjrred in the year.
The￿ a￿ inherent limitations in our audit procedures des¢ribed above. The more renv)ved that laws and
regulats.ons are from financial transactions, the less likely il is that we would become aw8re of non-compliance.
Auditing standardsalso limit the audit procedures required to identy'fy non-compliancewith lawsand regulations
to enquiry ol the directors and other management and the inspectson of regulatory and legal correspondence,
if any. Material misstatements that arise due lo fraud can be harde¥ to delect than those that arise from error
as they may invofve deliberate cL)ncealment or collusKJn.
A further descriptK)n of our responsibilities for the audit of the financial statements is located on ihe Financial
Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forn￿ part of our
Rèport of the Independent Audrtors.
Pagg 10

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE ADJUTANT GENERAL'S CORPS ASSOCIATION
U•e of our report
This ￿pOrt is m8de solely to the charity'5 Iruslees, as a body, in accordance with Part 4 of the Charities
(Accounts and Repc*rtsl Regulats'ons 2008. Our audit work has been undertaken so that we might state to the
chanty's trustees those matters we are required to stale lo them in an auditors, ￿port and for no other purpose.
To the fvllest extent permitted by law. we do not accept or assuff* responsibility to anyone other than the
charity and the charity's trustees as a body, for our audrt work, for this ￿pOrt. or for the opinions we have
RON_ /I￿LI1R
Rothmans Audit LLP
Chartered Accountants & Ststutory Auditors
EIHJible lo act as an auditor in terms of Section 1212 of the Companies Act 2006
Avebury House
St Peter Street
n¢hester
Hampshire
S023 8BN
P8ge11

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
unrestn.cted un￿S1￿cted
& total fvnds & total funds
Notes
INCOIIIE AND ENDOWMENTS FROM
Donations and *aues
798,260
742,360
chOrttsb￿ actl¥ltl•8
Fostering Esprit de Corps
37,268
20,￿9
InvestsiMI incorr
182,579
Totsl
1,021,763
945,328
EXPENDITURE ON
Raising funds
1,921
935
Charliable activitle
Foslenng Esprit de Corps
Benevolence & Weffare
Maintaining Contact & Traditsons
SFQrts
264,904
131,026
48,459
169,524
277,156
95.395
42,346
128.150
Totsl
615,834
543.982
Net gains on investments
208 574
INCOME
1,102,505
609.920
RECONCILIATION OF FUNDS
Totsl fvnd• brought fonward
7.297,676
6,687,756
TOTAL FUNDS CARRIED FORWARD
8400 181
7 297 676
The notes fom part ofthese financial staten*nts
Page 12

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
BALANCE SHEET
31 DECEMBER 2021
2021
2020
Unrestricted Unrestricted
& total funds & totsl funds
Notes
FIXED ASSETS
Tangible asse15
Investrnents
14
15
529,904
7,028 322
510.215
6 155058
7,558.226
6,665,273
CURRENT ASSETS
. Stocks
Debtors
Cash at bank and in hand
16
17
18
2,175
408,379
6,343
122.227
869.996
656,376
CREDITORS
Amounts falling due wthin one year
19
128,0411
123,9731
NET CURRENT ASSETS
632 403
TOTAL ASSETS LESS CURRENT
LIABILITIES
8,400,181
7,297,676
NET ASSETS
8400,181
7 297 676
FUNDS
Unrestricted fvnds
20
8400 181
7 297 678
TOTAL FUNDS
8400 181
7 297 676
The
anci
0¢
talements were approved by the Board of Trustees antl authorised for issue on
Lieutenant Colonel John Al
Colonel Scott Vardy
The notes fom part of these financial statements
Page 13

THE ADJUTA1￿ GENERAL% CORPS ASSOCIATION
CASH FLOW STATEMENT
FOR THE YEAR ENDEO 31 OECEMBER 2021
2021
2020
Notes
Cash flo￿ from op•ratlng activitieB
Cash generated from operab"on$
Net cash provthd byllused in) operating pthities
Cash I1￿ fvom InTffttlng actlvltl•8
Pur¢hase of tangible fixed a55ets
Purchase of fixed awt investments
Sale of fixed asset investrnents
Intewt rnceNgd
150.3781
1176.6871
15,0391
1196.1281
24
537
Net cash lused inyprovided ty investin9 activths
Ch*ng• In cash and cash •quivalents
In the rnporting period
Cash and cash •quival?ntB #t th•
b•ginnlng of thg r•portlng ￿riod
190.4C6
337.4
C￿h and ¢a$h •qulval•nts at the end
of the reporting p•iiod
459 442
The notes fomi part of these financAal 3tsteft￿ts
Page 14

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEM8ER 2021
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERAnNG
ACTIVITIES
2021
2020
N•t Incom• for th• r•portlng prlod las p•r the Stat•m•nt of
Financial Acttvitiesl
Adlu$tments for:
DeprerAation charges
Gain on investments
Los5 on disposal of fixed assets
Interest received
Decreasellincreasel in stocks
Ilncreasellda¢rease in debtors
(Decreasellincrease in C￿lI0rS
1,102,505
609,920
30,689
1696,5771
32,265
1208.5741
7,889
15371
12,553
151,5141
10.966
1241
4.168
1286,1521
4.068
￿$h provid•d by1(￿¢d in) 0￿￿tiOnS
158677
391 036
ANALYSIS OF CHANGES IN NET FUNDS
A11.121
C8sh flow
At 31.12.21
Net cash
Cash * bank and in hand
527 806
Total
459,442
The notes form part ofthese financial 5ts1ements
Page 15

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
AcCOUP￿ING POLICIES
BaBi8 of proparfng the financlal 8tatom&nt8
The financial statements of the charity. which is a publ￿ benefit gntty under FRS 102, have tseen
prepared in a￿rdance with the Charitw SORP IFRS 1021 'Accounting and Reporting by chant￿&$."
Statement of Recommended Practice applicable to chantw preparing their accounts in accordance
with the FinancKg1 Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffective
1 January 20191., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in
the UK and Republic ol Ireland, and the Charities Act 2011. The financ￿1 statements have been
prepared under the historical cost convention. wrth the exception of investments which are induded at
markgt value. as modffied by th¢ revaluation of certain assets.
The financial statements are prepared in sterting which is the lunth.onal and presentational currency of
the charity. The financial Statements are rounded to the nearest pound.
The charity was fonmod by the merger of tho Adjutant Genef81's Corp$ RegirrEntal Assc¢iatson and the
Adjutant General's Corps Insbtution on 19th September 2019.
The Trustees consider that there affj no material uncertainb.es about the charity'5 ability to ￿ntinue as
a going ￿nCern and these accounts are Pfepared on a going concem basis. The mst signfficant
estimates affecbng these a¢¢ounts are the esb"mation$ ofthe usefvl INes of the fixed assets. There are
no signtfit2ntjudgements which affect the amounts rwjnised in the financAal statements. respect
to the next reporting penod. the most Significant areas of uncertainty that affect the carying value of
assets held by the Charity ore the level of investment return and the perfonnance of investsiwrts.
Incom•
l income is reco9nised in the Statement of Financial Actniities once the charity has entittem&nl to the
fijnds, it is probable that the income will be rgceived and the amunl can be measured reliabty.
Expondltur•
Liabilib'es are recognised as expenditure as soon asthere is a legal or constructwe obligation commrtting
the charty lo that expenditure, rt is probable that a transfef of economic benefits will be requi￿ in
setuement and the amount of the obligation can be measured reliably. Expendrture is accounted for on
an accruals basis and has been classffie(l under headings that aggregate all cost related lothe category.
ere costs Cannot ￿ directy attributed to particular headings they have been allocated to actNit￿$
on a basis consistent with the use of resources.
Grants offe￿d subject to conditions whi¢h have not been mel at the year gnd dats are noted as
cL)mmilrrEnl but not accrued as exFenditure.
Governan¢• costs
Govemance cost5 are the costs ol professional advice. holding trustee meeting5 or committee nwotings
associated wf(h decision maktng, any lee for audit or independent examination and any fee incurred in
the preparation, statutory filing, prinb.ng or copying of the annual ￿POrt and accounts.
Allocation and apportlonm•nt of costs
Support costs include administrative and govem8nce Costs.
Administrative costs which relats to specth actwilios are allocated lo those athitio$. General
administrative costs are share<1 equally befvleen the fouractivtbos of the charity as these utllise a $imiLar
vèl of resources over the course of any given year
Govem8n¢e costs are shared equalty befvffjen tho four xtivilies of the chanty as these utilise a similar
level of resources over the course of any given year.
Page 16
continued...

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS- continu
FOR THE YEAR ENDED 31 DECEMBER 2021
ACCOUNTING POLICIES- contlnu•d
Tanglbl• Ilxed assets
All a55els having a purchase value of more than £500 are capitalised. The cost of tsngible fixed assets
are written off by equal annual instalments over their expected usefijl lives using the following method5
of deprecrab'on".
Fumiture, fixtures and equipment- Straight Line over a period of 2 - 10 years
Holiday Home$- Straight Line over a period of 20 ye8rs
Assets wilh a lrfe of more than one year but with a purchase value of below £500 are included wi(hin
the inventory but the cost is wrrtten off in the year il is incurred and is not depr￿lated over the useful
life of the asset.
The charty holds some assets with 8 usefvl economic lrfe in excess of 10 years and with high residual
values. These assets are not depreciated on the basi5 that 8ny such deprecKats'on charge would be
immaterial to these accounts.
Investments
Investsnents are a fom Of basic financial instrument and are initially recognised at their transaction
value and subsequendy measured al their fair value as at the balance sheet. The charity's investments
are held in unil tNsts 8nd the fair value for these inve5trnents is equNalent to the market value, using
the bid price.
All gains and bsses are tsken to the Statement of Financjal Activities as they arise. Realised gains and
losses on investments are calculated as the drference be￿een sales prweeds and their opening
carrying value or their pur¢h3se value if acquired subsequent to the first day of the fin8n¢o1 year
Unrealised gains and losses are calculated as the difference be￿een the fair value at the year end and
their carrying value. Realised and unrealised investment gains and losse5 are combine(l in the
Statement ol Financial AclivrtY&s.
stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete
and slow moving items.
Taxation
The charity is exempl from Corporation tax on its charitsble acb"vilie$.
Fund ¥¢¢ountlng
The charity currentty hokls only general purpose unreslncted fvnds. Unrestricted fvnds can be used in
ac¢ordan¢g with the charitable objectives al the diScr￿.0n of the trustees
The Trustees have designated funding foT the operdlion of the AGC Sergean15 Mess and thi$ is
presented as a separate designated fund wrthin these accounts.
Donated serlices and fo¢llrli¢8
Donated professional services and donated facilities are recognised as In￿Me when the charity has
eontrol over the item, any conditions associated with the donated rtem have been met, the receipt of
economic benefit from the use by the charity of the item is probab￿ and th* economic benefit can be
me8sured reliably.
On receipt, donated professional services and donated facilth'e5 are wognised on the basis of Ihevalue
of the gift to the charity which is the amount the charity would have been wi111ng lo pay to obtsin services
or facilrties of equivalent economic benefit on the open market,. a corresponding amunt is then
recognised in expenditu￿ in the period of receipt.
Page 17
¢onlinued..

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continu•d
FOR THE YEAR ENDED 31 DECEMBER 2021
DONATIONS AND LEGACIES
2021
2020
Regi￿￿tal subscript￿n$
t)onats)ns
Sergeants Mess Subscriptions
Grants
t)onated Serv￿ and facilrties
858,075
1,901
30,617
50.000
632,138
2.995
24,967
24.593
57.667
742.360
The Charty has a cbse workn'ng relationship with the Arrny and receives donated sgrvi¢es from Army
Fe150nnel who manage ts operations. The estimated valLte of these services lo the charity has
recojnised in these financial statements.
The Chanty is also provid8(1 with office faalit￿S within the Worthy Diywn Amy Camp al no cost. No
income is induded in these financol statements forlhesg donatsd faul￿e8 as it is not possible lo relrab
Measu￿ the value of these gffts.
The AGC Assouation r￿e1Ve￿ a grant from the Amiy Sports Lottory Board of £S0,00012020 £3.CqJOI.
INVESThIENT INCOME
2021
2020
Dividends receNed
Deposil xcount interest
186,211
24
182,042
537
182 579
INCOME FROM CHARtfA8LE ACTMTIES
2021
2020
Holiday Home
Sale of Soldiets Accoutrements
FosteriThJ Esprit de COTPS
Fostering Esprit de cO￿S
34,550
17,950
20 389
Page 18
continue¢J...

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - contlnu•d
FOR THE YEAR ENDED 31 DECEMBER 2021
RAISING FUNDS
Inve¥tment m•nag•m•nt Costs
2021
2020
Investment advice
935
935
CHARrrA8LE ACTMTIES COSTS
Grant
fijnding of
activits'es
(see note
81
Dire
Costs (see
note 71
Support
costs (see
note 9)
Totals
Fostering Esprit de Corps
Benevolence & Weware
Maintaining Contact S Tr8¢y￿On$
Sports
128.867
10.625
33.808
121,386
105,747
14,651
14,654
14.851
14.648
264.904
131.026
48.459
169524
183,925
58.804
613913
DIRECT COSTS OF CHARITABLE ACTNMES
2021
2020
Staff costs
Other charrtable activrties
Field of Remembrance
Funeral Tributes
Presentations
Soldiers AC￿UtreTr*nts
National MenNJrial Arboretum
AGC Journal
Triple Crown
Events & Recruiting
c￿erSeaS Events costs
Holiday Home
AGC Oinner Nights
Sergeants Mess
Depreciation
42.500
220
520
3,004
12.684
21,407
4.507
14,932
42,500
328
1,30
2,874
1,446
72,981
14,053
10,014
7,275
2,199
30,4C6
6,611
29,335
26 878
12,093
153
24,073
213
20,741
26.878
183925
247 030
Page 19
continued...

THE ADJUTAKf GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANc￿L STATEMENTS- continu•d
FOR THE YEAR ENDED 31 DECEMBER 2021
GRAKfs PAYABLE
2021
2020
Fostering Esprit de Corps
Benevolence & Wemare
Sports
121.386
105,747
65.050
70,432
103 189
238,671
The total grants paid to institutions during the year was as foll¢yws.'
2021
2020
AGC Museum Trnst
RMP Museum
Amiy Benevolent Fund
19,500
12.000
37.5C
SUPPORT COSTS
Governar￿e
costs
Other
Totsls
Fostoring Esprit de Corps
Benevolence & Weffaie
Maintaining Contact & Trad￿OnS
SFQrts
13.564
13,568
13.565
1,087
1,086
1,086
14,651
14,6S4
14,651
Support costs, induded in the above. are as folbws..
Other
F¢)slering
Espnt de
Corps
Maintaining
Benevolen￿ Contact &
& Wetfare
Tradithins
Regirrefttsl Clerk
RegirrEntsl Finance manager
Recruitment costs
Insurance
Telephone
Postage and stationery
Computer and solh¥are costs
Office Costs
SubscriptKsns
Travel Costs
Depreciabon of tsngible fixed assets
VIP Hosb"ng
Premi5e5 expenses
Heritage costs
Change in Cypher costs
AnnNersary coins
PR Lrterature
3.791
2,139
137
1181
836
562
403
3.792
2,139
137
1181
836
561
404
859
3,792
2,139
137
1181
035
561
859
952
81
424
93
229
2.932
137
953
82
424
93
229
2,933
138
953
82
423
93
230
2,933
137
Page 20
continued...

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS- continu•d
FOR THE YEAR ENDED 31 DECEMBER 2021
SUPPORT COSTS - contlnued
Other- continued
2021
Totsl
activth'es
2020
Totsl
activrties
Sports
Regimental Clerk
Regimental Finance manager
Recruthenl ￿Sts
Insurance
Telephone
Postage and stslionery
Website costs
Cornputer and sO￿are costs
Office Costs
Subscriptv)ns
Travel Costs
DeprerAab'on of tangible fixed assels
Loss on disposal of assets
P Hosting
Premises Expenses
Heritage costs
Change in Cypher costs
Annsversary Coins
2.423
23.056
3,792
2138
15.167
8,555
547
1711
3,342
738
1171
835
527
561
403
859
2,245
1.614
3,437
22
3.811
105
3.075
4,034
3.075
5.387
7,889
953
82
423
92
229
2,933
327
1,694
371
917
11,731
PR Lrteratur8
138
550
Gov•rnanc• costs
Fostering
Esprit de
Corps
Maintaining
Contsct &
TTaditKJns
Benevolence
& Welfare
Auditors. remuneration
Audrtors, remuner81ion for non audrt work
Acwintsnry and legal fees
750
750
750
337
336
1.086
2021
Total
actsvities
2020
Totsl
acbvities
Sp)rts
AudTtors remuneralioft
Auditors. remuneration for non-audit work
Accountan¢y and legal fees
750
3,000
3.000
1.800
336
1.345
Page 21
continu&J...

THE ADJUTANT GENERAL% CORPS ASSOCIATION
NOTES TO THE FINANc￿L STATEMENTS - contlnu•d
FOR THE YEAR ENDED 31 DECEMBER 2021
10. NET INCOMEIIEXPENDThURE}
Net irthmellexrénditurel is stated after Chargi￿(¢￿e￿Iti"n9)".
2021
2020
Auditorn. remuneratB)n
Other non-audit services
Depr8¢iats'on . owned assets
Defi¢il on disposal of fixed assets
3,000
1,800
32.266
30,689
11. TRUSTEES. REIAUNERATION AND BENEFITS
There were no trustees, remuner8b.on or other beneffts for the year end&J 31 Deeemter 2021 nor for
th& year endgd 31 Decembei 2020.
Trust•M' •xp•n••
The￿ We￿ no trustees, expenses pa￿ for the year ended 31 Decemb8r 2021 nor for the year ended
31 December 2020.
12. STAFF COSTS
The chèrity has ho employoes and provides no empknyee benefiis.
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcmvmES
fund8
INCOME AND ENDOWMENTS FROM
Donations and legacies
742,380
Charliabl• aetlvltl
Fostering Esprit de Corps
Investment inco
Totsl
945.328
EXPENDITURE ON
Rai&'ng fiJnd$
935
Charltabl• actlvbtl•8
Fostering Esprit de Corps
Benevolen¢e & Welfa
Maintaining Contact & Trad￿on$
Sports
277,156
95.395
42,346
128,150
Total
543,982
Net gains on invests))￿ts
INCOME
609.920
Page 22
continued...

THE ADJLrrANT GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivrriES - contlnued
Unrestri¢ts
funds
RECONCILIATION OF FUNDS
Totsl lund¥ brought fonward
6.687,756
TOTAL FUNDS CARRIED FORWARD
7 297 676
1& TANGIBLE FIXED ASSETS
Fixtures
and
fittsngs
COST
At 1 January 2021
Additions
Disposals
638.862
50,378
At 31 Decern￿r 2021
DEPREc￿￿oN
At 1 January 2021
Charge for year
Eliminated on disposal
128,647
30.689
At 310ecember 2021
NET BOOK VALUE
At 31 December 2021
At 31 D￿ember 2020
510215
15. FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At 1 January 2021
Additions
Revaluab'ons
6,155.058
176,687
696 577
At 31 December 2021
7 028 322
NET 800K VALUE
At 31 December 2021
7 028,322
At 31 December 2020
6 155058
The￿ were no investment assets OLrtside the UK.
Investments cons¢5t solely of inveslmeftts hel¢J in unil trusts or other collective investllEnt scherrEs.
Page 23
ontinued...

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS- contlnu•d
FOR THE YEAR ENDED 31 DECEMBER 2021
STOCKS
2021
2020
Stocks
17. DEBTORS: AhlOUNTS FALLING DUE I•￿1N ONE YEAR
2021
2020
Prepayments and accrued inc4)
408 379
18. CASH AT BANK AND IN HAND
2021
Total
fun¢J$
2020
Totsl
funds
General
fttnd
Sergeants.
Mess
Cash in hand
Bank ¢urrent account
Bank deposrt a￿Unt
201,354
53,237
254.591
322,978
Total
Cash al bank and in hand is a finarrial asset Thasured at arrth'sed cost
19. CREDITORS: AMOUNTS FALLING DUE WIThIN ONE YEAR
2021
2020
Accrnals and deferred incoff
Deferred in￿Me. included in the above, rek91es to suOs¢ripb'on$ collected by Ihe AGC As6￿.8￿.0n on
behaw ofthe AGC HQ Officers Mess, were pa*J over after the year-end..
2021
Al 1 January 2021
Collected on behalf of Ihe Mess
Paid over to the Me$s
Al 31 December 2021
11,313
69,589
181
MOVEMENT IN FUNDS
Net
Ir￿ement
in funds
Ttsnsfe
At1.121
funds
31.12.21
Unrn•trl¢t•d funds
General fvnd
Sergeants. Mess
7,254,315
1,092,629
9876
8,346,944
TOTAL FUNDS
7 297 676
1 102505
8400 181
Page 24
fp)nts"nued...

THE ADJUTATr￿ GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - ¢ontinu•d
FOR THE YEAR ENDED 31 DECEMBER 2020
IIOVEMENT IN FUNDS - ¢ontinued
Nel movement in funds, included in the above are as follows..
Incoming
resources
Resource5
expended
Gains and
k)sses
Movement
in funds
Unmtrletsd funds
Gener81 ftjnd
Sergeants. Mess
991,146
30,617
1595,0931
20.7411
696,576
1,092,629
TOTAL FUNDS
1.021.763
615.8341
696.576
1 102,505
The Sergeants, Mess fvn¢J is a designated fund which tra¢ks In￿1￿ and expendrture in relation to the
AGC HQ Warrant Officers, and Sergeants, Mes5.
Comparatives for nK>vement in funds
Nel
rwvemenl
in fvnds
Transfers
behveen
ftjnds
A11.1.20
31.12.20
Unrnstrict•d funds
General ftjnd
Sergeants. Mess
6.640.027
47,729
614,288
4.3681
7.254,315
43.361
TOTAL FUNDS
609 920
7 297 676
Comparabve net rrKJvement in funds, included in the above are as folluw5.'
Incorning
resources
Resources
expended
Gains and Movement
losses
in fvnds
Unmtrictsd fvnd•
General fvnd
Sergeants. Mess
920,361
1514,6471
29 335)
208,574
614.288
TOTAL FUNDS
208 574
Page 25
ontinued...

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021
21. RELATED PARTY DISCLOSURES
ilsl the charty has a dose working r8labonship wth the Army, there are no transactions wth the
Amy wh￿h requi￿ disdosure under SORP FRS102. The onty transa¢bons made in favour ofthe Mess
are wholly attn"butsble lo the charitable act￿￿"eS of fvrthering military efficiency. The Chairman, who
ts as Managing Trustee. is a serving officer and lulfibs the role as Trustee in accordance wrth the
appl￿b￿ laws and r¢gulation8.
Dunng thg year ended 31 Decemtr•r 2021 the charity paid grants totalling £19,50012020'. £37,5CIJI to
the AGC Museum Trust and made contributions of £Nil12020 £6.8111 to events org8nised by AGC
HQ Officers Mess.
The Adiutsnl Genoral's Corps Associab"on. the AGC HQ Officers Mess and the AGC Museum Trust
have soff￿ trustees in comnv￿ and all of these charities share the object of promotin9 the effic*ncy of
the Adjutant General's Corps.
Page 26

THE ADJUTANT GENERALE CORPS ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
INCOME AND ENDOWMENTS
rk)natlons and legacies
Regimental Subscnptr)n$
DonatK)ns
Sergeants Mess Subscriptions
Grants
Donated servus and fa¢ilitie$
656.075
1,901
30.617
50,000
632,138
2,995
24,967
24,593
798.260
742,360
InY•stm•nt In¢om•
DNidend5 recerved
Deposit account irrteresl
186.211
24
182,042
537
186,235
182,579
Charitsbl• a¢tlvltl•8
Holiday Home
Sale of Sohliers Accoutrements
34,550
17,950
Total incoming reBourc
EXPENDrruRE
Investment management
Investment advice
1.921
935
Charitabl? activiti•¥
Donated seTvices
Other chantsble activ￿"eS
Field of Remembrance
Funeral Tributes
Present*'ons
Soldiers Accoutrements
Spc*rts Excellence Awards
National Memorial Athlretum
AGC Joumal
Triple Crown
Adventure Training
Events & Recrurting
[￿eTrea$ Events costs
Carried forward
42,500
220
520
3.004
12.684
21.407
42,500
328
130
2,874
1,446
72,981
4.507
14,932
14.053
10,014
12,093
153
112.020
7,275
153,800
This page does not fonn part of the statutory fir￿ncial statements
Page 27

THE ADJUTANT GENERAL'S CORPS ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTivinES
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
Ch•rhbl• *cdvltl•s
Brought fo￿81￿
Holiday Home
AGC Dinner Nights
Sergeants Mess
Fixtures and fittings
Grants to in5tituts.ons
Grants to individuals
112,020
24,073
213
20,741
26,878
86,500
153,800
30,4C6
6.611
29.335
26,87B
62,5(lJ
176 171
Support co•ts
Oth•r
RegirrEntal Clerk
Regimental Finan￿ manager
Insurancg
Tèlephone
Postage and stat￿nery
Website costs
Computer and Sthare costs
off￿ Costs
Subscriptions
Travel Costs
Recruitment Costs
VIP Hostsng
Premises exFenses
Heritage costs
Change of Cypher costs
Ann￿¢[sary ￿1n$
PR Lrteralu
Fiyture5 and fith.ngs
Loss on disposal ol assets
2,423
23,056
738
15.167
547
1711
3,342
527
2.245
1.814
3437
22
8.555
327
1.694
371
917
11,731
550
3,811
105
3,075
4,034
3,075
5,387
54,259
50,309
Gov•rn•n¢• ¢￿ts
Auditors, remunerab.on
Auditors, ￿mUnera￿'0n for non audit work
Accountsncy and *al fees
3,000
3,￿0
1,800
Total r8sourc8s expended
615834
N•t In¢om•
405 929
This page does.not fom part ofthe stslutory financial ststements
Page 28