## 

|||||Page|
|---|---|---|---|---|
|Reference|and administrative||details ofthe Charity, its Trustees and advisers||
|Chairman's|statement|||2-3|
|Trustees'|report|||4-7|
|Independent<br>auditors'||report|on the financial statements|8-11|
|Statement|offinancial|activities||12|
|Balance sheet||||13|
|Statement|ofcash flows|||14|
|Notes to the financial||statements||15-35|





## 

|Patron||||Her Most Gracious<br>Majesty|Her Most Gracious<br>Majesty|Her Most Gracious<br>Majesty|The|Queen||
|---|---|---|---|---|---|---|---|---|---|
|President||||The Rt Hon|Lord Benyon|(resigned 13April 2021)||||
|Honorary|Trustees|||H.R.H. The <br>2021)|Prince Philip,|Duke of Edinburgh,|||KG, KT, OM, GBE(deceased 9 April|
|||||H.R.H. The|Prince ofWales,||KG, KT, GCB,||OM, AK, QSO, CC, PC, AOC|
|||||H.R.H. The|Duke of Gloucester,|||KG, GCVO,|GCStJ, FRIBA|
|||||H.R.H. The|Countess of|Wessex, GCVO, DStJ, CD||||
|||||R.F.H. Cowen, CBE||||||
|||||The Lord Plumb of Coleshill,|||DL,|FRAgS (deceased 15April 2022)||
|Trustees||||Philip Gready, Chair||||||
|||||Alastair<br>Morrison||||||
|||||Joanna Price||||||
|||||Nick Tapp FRAgS||||||
|||||Michael Fiddes||||||
|||||Julie Butler||||||
|Company|and Charity|||||||||
|registered||numbers||RC000442 8 209961||||||
|Principal|office|||Stoneleigh<br>Park||||||
|||||Kenilworth||||||
|||||Warwickshire||||||
|||||CV8 2LZ||||||
|Chief operating|||officer|Roly Taplin||||||
|Independent||auditors||Dains LLP||||||
|||||15Colmore|Row|||||
|||||Birmingham||||||
|||||B32BH||||||
|Bankers||||Coutts 8 Co||||||
|||||440 Strand||||||
|||||London||||||
|||||WC2R OQS||||||
|Solicitors|(charity,|||Wright Hassall<br>LLP||||||
|governance,||||Olympus<br>Avenue||||||
|commercial)||||Leamington|Spa|||||
|||||Warwickshire||||||
|||||CV34 6BF||||||





## 



## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 

## 

## 



## 

||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
||||2021|2021|2021|2021|2020|
|||Note|FOOO|FOOO|FOOO|FOOO|FOOO|
|Income and||||||||
|endowments|from:|||||||
|Donations<br>and||||||||
|legacies||4|96|||96|48|
|Charitable<br>activities||5|20|||20|19|
|Other trading|activities|6|231|||231|222|
|Investments||7||||3|3|
|Other income||8|||||331|
|Total income|and|||||||
|endowments|||347|||350|623|
|Expenditure<br>on:||||||||
|Raising funds|||280|||280|293|
|Charitable<br>activities||9|41|||41|79|
|Total expenditure|||321|||321|372|
|Net income I||||||||
|(expenditure)||||||||
|before net gains on||||||||
|investments|||26|||29|251|
|Net gains on||||||||
|investments|||||14|14||
|Net movement|in|||||||
|funds|||26||14||257|
|Reconciliation|of|||||||
|funds:||||||||
|Total funds<br>brought||||||||
|forward||20|6,098|41|110|6,249|5,992|
|Net movement|in|||||||
|funds|||26||14|43|257|
|Total funds carried||||||||
|forward||20|6,124||124|6,292|6,249|





|||||2021||2020|
|---|---|---|---|---|---|---|
|||Note||f000||FOOO|
|Fixed assets|||||||
|Tangible assets||14||||1|
|Investments||16||154||137|
|Investment<br>property||15||4,500||4,500|
|||||4,654||4,638|
|Current assets|||||||
|Debtors: amounts|falling due after more than||||||
|one year||17|609||625||
|Debtors: amounts|falling due within one year|17|248||384||
|Cash at bank and|in hand||1,014||1,193||
||||1,871||2,202||
|Creditors: amounts|falling due within one||||||
|year||18|(199)||(550)||
|Net current assets||||1,672||1,652|
|Total assets less|current liabilities|||6,326||6,290|
|Creditors: amounts|falling due after more||||||
|than one year||19||(34)||(41)|
|Total net assets||||6,292||6,249|
|Charity funds|||||||
|Endowment<br>funds||20||124||110|
|Restricted funds||20||44||41|
|Unrestricted<br>funds||20||6,124||6,098|
|Total funds||||6,292||6,249|





## 

|||||2021|2020|
|---|---|---|---|---|---|
||||Note|f000|f000|
|Cash flows from operating|activities|||||
|Net cash used<br>in operating|activities||23|(180)|(41)|
|Cash flows from investing|activities|||||
|Dividends,<br>interests<br>and rents from investments|||||3|
|Proceeds from sale of investment<br>property||and land|||1,106|
|Net cash provided<br>by investing<br>activities|||||1,109|
|Cash flows from financing|activities|||||
|Cash inflows from new borrowing|||||27|
|Repayments<br>of borrowing||||(2)||
|Net cash (used in)/provided|by financing|activities||(2)|27|
|Change<br>in cash and cash|equivalents<br>in|the year||(179)|1,095|
|Cash and cash equivalents|at the beginning|ofthe year||1,193|98|
|Cash and cash equivalents|at the end of|the year|24|1,014|1,193|
|The notes on pages 15to 35form part ofthese financial statements||||||





## 

## 

## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2021|2021|
||f000|FOOO|
|Donations|96|96|
||Unrestricted|Total|
||funds|funds|
||2020|2020|
||OOOO|f000|
|Donations|48|48|



## 

|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|||OOOO|f000|
|Membership|subscriptions|20|20|
|||Unrestricted|Total|
|||funds|funds|
|||2020|2020|
|||f000|f000|
|Membership|subscriptions|19|19|





## 

## 

## 

## 

|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2021|2021|
|||||FOOO|FOOO|
||Property|||36|36|
||Other|||195|195|
|||||231|231|
|||||Unrestricted|Total|
|||||funds|funds|
|||||2020|2020|
|||||OOOO|OOOO|
||Property|||40|40|
||Other|||182|182|
|||||222||
|T.|Investment||income|||
|||||Restricted|Total|
|||||funds|funds|
|||||2021|2021|
|||||FOOO|FOOO|
||Dividend|income||||
|||||Restricted|Total|
|||||funds|funds|
|||||2020|2020|
|||||f000|FOOO|
||Dividend|income||||





## 

## 

## 

## 

|Unrestricted|Total|
|---|---|
|funds|funds|
|2020|2020|
|OOOO|f000|



|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|||OOOO|FOOO|
|Membership|services|41|41|
|||Unrestricted|Total|
|||funds|funds|
|||2020|2020|
|||f000|f000|
|Membership|services|79|79|





## 

## 

|||Activities|||
|---|---|---|---|---|
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2021|2021|2021|
|||OOOO|OOOO|FOOO|
|Membership|services||39|40|
|||Activities|||
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2020|2020|2020|
|||FOOO|FOOO|FOOO|
|Membership|services||78|79|
|Analysis of|direct costs||||
||||Membership|Total|
||||services|funds|
||||2021|2021|
||||OOOO|f000|
|Direct costs|||||
||||Membership|Total|
||||services|funds|
||||2020|2020|
||||FOOO|OOOO|
|Direct costs|||||





## 

## 

## 

|||Membership|Total|
|---|---|---|---|
|||servIces|funds|
|||2021|2021|
|||OOOO|OOOO|
|Staff costs||34|34|
|Auditor's|remuneration|5|5|
||||39|
|||Membership|Total|
|||sefv Ices|funds|
|||2020|2020|
|||f000|OOOO|
|Staff costs||72|72|
|Auditor's|remuneration|5|5|
|General|expenses|1|1|
|||78|78|





## 

## 

||2021|2020|
|---|---|---|
||f000|f000|
|Wages and salaries|34|72|
|Social security costs|4|5|
|Pension costs|2|3|
||40|80|




## 

## 

## 

## 

|||||2021|2020|
|---|---|---|---|---|---|
|||||f000|FOOO|
|Depreciation<br>oftangible||fixed assets||||
|Auditor's|remuneration|- audit||||
|Auditor's|remuneration|- non-audit|services|||





## 

## 

## 

||Computer|
|---|---|
||equipment|
||f000|
|Cost||
|At 1 January 2021|1|
|Disposals|(1)|
|At 31 December 2021||
|Net book value||
|At 31 December 2021||
|At 31 December 2020||





## 

## 

||Freehold|
|---|---|
||investment|
||property|
||f000|
|Valuation||
|At 1 January 2021|4,500|
|At 31 December 2021|4,500|



## 

||Listed|
|---|---|
||investments|
||f000|
|Market valuation||
|At 1 January 2021|137|
|Additions|3|
|Revaluations|14|
|At 31 December 2021||
||154|



## 

|||2021|2020|
|---|---|---|---|
|||f000|f000|
|Due after more than one year||||
|Prepayments|and accrued income|609|625|
|||2021|2020|
|||FOOO|FOOO|
|Due within one year||||
|Trade debtors||52|317|
|Other debtors||20|16|
|Prepayments|and accrued income|176|51|
|||248|384|





## 

## 

||||||2021|2020|
|---|---|---|---|---|---|---|
||||||f000|f000|
|Bank loans|||||5|1|
|Trade creditors|||||65|109|
|Other taxation||and social security|||1|130|
|Other creditors|||||76|116|
|Accruals|and deferred<br>income||||52|194|
||||||199|550|
||||||2021|2020|
||||||E.OOO|OOOO|
|Deferred|income at 1 January||||149|17|
|Resources deferred<br>during the year|||||15|149|
|Amounts|released||from previous|periods|(149)|(17)|
|Deferred|income||at 31 December||15|149|



## 

|||2021|2020|
|---|---|---|---|
|||f000|OOOO|
|Bank loans||20|26|
|Accruals and deferred|income|14|15|
|||34|41|





## 

## 

|||||||||Balance at|
|---|---|---|---|---|---|---|---|---|
|||||Balance at 1||||31|
|||||January|||Gains/|December|
|||||2021|Income|Expenditure|(Losses)|2021|
|||||OOOO|f000|f000|f000|OOOO|
|Unrestricted|funds||||||||
|General Funds||||6,098|347|(321)||6,124|
|Endowment|funds||||||||
|RASE Landowner||gold|medal|34|||4|38|
|Farm 8 Rural|building||centre|76|||10|86|
|||||110|||14|124|
|Restricted funds|||||||||
|RASE Landowner||gold|medal|14||||15|
|Farm 5 Rural|building||centre|27||||29|
|||||41|||||
|Total offunds||||6,249|350|(321)|14|6,292|





## 

## 

## 

|||||||||Balance at|
|---|---|---|---|---|---|---|---|---|
|||||Balance at||||31|
|||||1 January|||Gains/|December|
|||||2020<br>f000|Income<br>f000|Expenditure<br>OOOO|(Losses)<br>f000|2020<br>EOOO|
|Unrestricted|funds||||||||
|General Funds||||5,850|620|(372)||6,098|
|Endowment|funds||||||||
|RASE Landowner||gold|medal|32||||34|
|Farm 8 Rural|building||centre|72||||76|
|||||104||||110|
|Restricted funds|||||||||
|RASE landmower||gold|medal|13||||14|
|Farm & Rural|building||centre|25||||27|
|||||38||||41|
|Total offunds||||5,992|623|(372)||6,249|



|||||||Balance at|
|---|---|---|---|---|---|---|
|||Balance at 1||||31|
|||January|||Gains/|December|
|||2021|Income|Expenditure|(Losses)|2021|
|||OOOO|OOOO|OOOO|FOOO|f000|
|General funds||6,098|347|(321)||6,124|
|Endowment|funds|110|||14|124|
|Restricted|funds|41||||44|
|||6,249|350|(321)|14|6,292|





## 

## 

## 

|||||||Balance at|
|---|---|---|---|---|---|---|
|||Balance at||||31|
|||1 January|||Gains/|December|
|||2020|Income|Expenditure|(Losses)|2020|
|||OOOO|EOOO|EOOO|f000|f000|
|General funds||5,850|620|(372)||6,098|
|Endowment|funds|104||||110|
|Restricted|funds|38||||41|
|||5,992|623|(372)||6,249|



## 

|Analysis of net assets between funds -|current year||||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total|
||funds|funds|funds|funds|
||2021|2021|2021|2021|
||f000|OOOO|OOOO|OOOO|
|Fixed asset investments||30|124|154|
|Investment<br>property|4,500|||4,500|
|Debtors due after more than one year|609|||609|
|Current assets|1,248|14||1,262|
|Creditors due within one year|(199)|||(199)|
|Creditors due in more than one year|(34)|||(34)|
|Total|6,124||124|6,292|





## 

## 

|Analysis of net assets between funds -|prior year||||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total|
||funds|funds|funds|funds|
||2020|2020|2020|2020|
||f000|OOOO|f000|FOOO|
|Tangible fixed assets||||1|
|Fixed asset investments||27|110|137|
|Investment<br>property|4,500|||4,500|
|Debtors due after more than one year|625|||625|
|Current assets|1,563|14||1,577|
|Creditors due within one year|(550)|||(550)|
|Creditors due in more than one year|(41)|||(41)|
|Total|6,098|41|110|6,249|



## 

||||||2021|2020|
|---|---|---|---|---|---|---|
||||||EOOO|f000|
||Net income for the year (as per Statement|||of Financial Activities)||257|
||Adjustments<br>for:||||||
||Gains on investments||||(14)|(6)|
||Dividends,<br>interests|and rents from|investments||(3)|(3)|
||Surplus<br>on disposal|of investment|property|and land||(331)|
||Decrease/(increase)|in debtors|||152|(278)|
||(Decrease)/increase|in creditors|||(358)|320|
||Net cash used in operating<br>activities||||(180)|(41)|
|24.|Analysis<br>ofcash and cash equivalents||||||
||||||2021|2020|
||||||OOOO|OOOO|
||Cash<br>in hand||||1,014|1,193|
||Total cash and cash equivalents||||1,014|1,193|





## 

## 


## 

## 

## 

## 

## 

## 



## 

## 

## 

|Principal<br>actuaria|l assumptions<br>at the balance sheet da|te (expressed as weighted<br>averages):||
|---|---|---|---|
|||At 31|At 3'l|
|||December|December|
|||2021|2020|
||||0/|
|Discount rate at|31 December|1.95|1.40|
|Rate of increase|in price (RPI)|3.30|2.90|
|Rate of increase|in price (CPI)|2.45|2.05|
|Rate of statutory|revaluation|2.45|2.05|



||||At 31|At 31|
|---|---|---|---|---|
||||December|December|
||||2021|2020|
||||FOOO|OOOO|
|Present|value offunded|obligations|(14,304)|(15,185)|
|Fair value ofscheme assets|||16,505|15,255|
|Surplus|not recognised||(2,201)|(70)|
|Net value ofpension scheme|||||





## 

## 

## 

|Movem|e|nts<br>in the|present value oft|he defin|ed<br>benefit obligation were as follows:||
|---|---|---|---|---|---|---|
|||||||2021|
|||||||OOOO|
|Opening||defined|benefit obligation|||15,185|
|Interest||cost||||209|
|Actuarial||gains||||(591)|
|Benefits||paid||||(499)|
|Closing||defined|benefit obligation|||14,304|
|Movements<br>in the|||fair value ofthe Charity's||share ofscheme assets were as follows:||
|||||||2021|
|||||||f000|
|Opening||fair value|ofscheme assets|||15,255|
|Return|on Scheme assets excluding|||interest|income|1,540|
|Interest||income||||209|
|Benefits||paid||||(499)|
|Closing||fair value ofscheme assets||||16,505|



##