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##
||||Unrestricted|Restricted|Year to|Yearto|
|---|---|---|---|---|---|---|
||||Funds|Funds|31March|31March|
||||2021|2021|2021|2020|
|||Note|E|f|E|E|
|Income|||||||
|Donations,
grants and gifts
Charitable
activities|||639
8,262,987|1,691,995
1,174,562|1,692,634
9,437,549|1,219,441
11,474,725|
|Other trading activities
Income from investments|||(1,734)
2,043||(1,734)
2,043|294,280
6,831|
|Total income and endowments||2|8,263,935|2,866,557|11,130,492|12,995,277|
|Expenditure
Raising funds
Charitable
activities|||349,420
8,246,443|797,220|349,420
9,043,663|517,720
9,244,749|
|Total expenditure|||8,595,863|797,220|9,393,083|9,762,469|
|Net income/(expenditure)|||(331,928)|2,069,337|1,737,409|3,232,808|
|Transfers between
funds|||645,458|(645,458)|||
|Other recognised
gains|||||||
|Revaluation
offreehold|land and|buildings|(2,410,000)||(2,410,000)|(650,000)|
|Disposal of heritage assets|||||||
|Net movement
in funds|||(2,096,470)|1,423,879|(672,591)|2,582,808|
|Balances at 1April 2020|||11,248,430|3,023,907|14,272,337|11,689,529|
|Balances at31March 2021|||9,151,960|4,447,786|13,599,746|14,272,337|
|||||ROYAL|UNITED SERVICES|UNITED SERVICES|UNITED SERVICES|INSTITUTE|||
|---|---|---|---|---|---|---|---|---|---|---|
|||||FOR DEFENCE AND|||SECURITY STUDIES||||
|||||CONSOLIDATED|||BALANCE SHEET||||
||||||AS AT31MARCH 2021||||||
|||||||||31March||31March|
|||||||||2021||2020|
|||||Note|||||||
|TANGIBLE FIXEDASSETS||||Sa||||12,177,679||13,890,635|
|HERITAGE ASSETS||||Sb||||1,345,705||1,345,705|
|||||||||13,523,384||15,236,340|
|CURRENT ASSETS|||||||||||
|Debtors||||6||11,148,816|||5,352,160||
|Cash at Bank||||||4,135,976|||3,673,451||
|||||||15,284,792|||9,025,611||
|CREDITORS:|||||||||||
|Amounts
falling due within||one|year||||||||
|Creditors||||7||9,679,911|||4,234,359||
|Bankloan||||||216,046|||212,060||
|||||||9,895,957|||4,446,419||
|NET CURRENT ASSETS/(LIABILITIES)||||||||5,388,835||4,579,192|
|TOTAL ASSETSless current||liabilities||||||1&,912,219||19,815,532|
|AMOUNTS
FALLING DUE AFTER|||||||||||
|MORE THAN|ONE YEAR|||||||5,312,473||5,543,195|
|NET ASSETS||||||||13,599,746||14,272,337|
|FUNDS EMPLOYED|||||||||||
|Unrestricted|fund —General|fund||||||3,604,398||3,290,868|
|Unrestricted|fund —Revaluation||reserve|||||5,547,562||7,957,562|
|Restricted funds||||13||||4,447,786||3,023,907|
|||||||||13,599,746||14,272,337|
|||||ROYAL|UNITED SERVICES|INSTITUTE|||
|---|---|---|---|---|---|---|---|---|
|||||FOR DEFENCE AND SECURITY STUDIES|||||
|||||CHARITY BALANCE SHEET|||||
||||||AS AT31 MARCH 2021||||
|||||||31March||31March|
|||||||2021||2020|
|||||Note|||||
|TANGIBLE FIXEDASSETS||||Sa||12,140,874||13,882,998|
|HERITAGE ASSETS||||Sb||1,345,705||1,345,705|
|INVESTMENT|IN SUBSIDIARY|||9||100||100|
|||||||13,486,679||15,228,803|
|CURRENT ASSETS|||||||||
|Debtors||||6|6,732,377||5,399,409||
|Cash at Bank|||||3,289,466||2,197,864||
||||||10,021,843||7,597,273||
|CREDITORS:|||||||||
|Amounts
falling due within||one year|||||||
|Creditors||||7|4,380,257||2,79&,484||
|Bankloan|||||216,046||212,060||
||||||4,596,303||3,010,544||
|NET CURRENT ASSETS/(LIABILITIES)||||||5,425,540||4,586,729|
|TOTAL ASSETSless current||liabilities||||18,912,219||19,815,532|
|AMOUNTS
FALLING DUE AFTER|||||||||
|MORE THAN|ONE YEAR|||||5,312,473||5,543,195|
|NET ASSETS||||||13,599,746||14,272,337|
|FUNDS EMPLOYED|||||||||
|Unrestricted|fund —General|fund||||3,604,398||3,290,868|
|Unrestricted|fund —Revaluation||reserve|||5,547,562||7,957,562|
|Restricted funds||||13||4,447,786||3,023,907|
|||||||13,599,746||14,272,337|
||FO|R THE YE|AR END|ED 31MARCH 20|21||
|---|---|---|---|---|---|---|
||||||Year to|Yearto|
||||||31March|31March|
||||||2021|2020|
||||||E|E|
|Cash flows from operating activities:|||||||
|Net cash provided
by (used in) operating|activities||||1,526,909|1,100,675|
|Cash flows from investing
activities:|||||||
|Interest from investments|||||2,043|6,831|
|Purchase of property,
plant and equipment|||||(839,691)|(468,632)|
|Purchase ofheritage assets|||||||
|Net cash provided
by (usedinjinvesting|activities||||(837,648)|(461,801)|
|Cash flows from financing activities:|||||||
|Repayments
ofborrowing|||||(226,736)|(209,427)|
|Cash inflaws from new borrowing|||||||
|Net cash provided
by (used in)financing|activities||||(226,736)|(209,427)|
|Change in cash and cash equivolentsin|the|reporting|period||462,525|429,447|
|Cash and cash equivalents
at the beginning||ofthe reporting||period|3,673,451|3,244,004|
|Cash and cash equivalents
at the end ofthe||reporting|period||4,135,976|3,673,451|
|Reconciliation
of net income/(expenditure)||to net cash flow|||||
|from operating
activities|||||||
|Net income/(expenditure)
for the reporting||period (as per|||||
|The Statement of Financial Activities)|||||1,737,409|3,232,808|
|Adjustments
for:|||||||
|Depreciation
charges|||||142,647|76,552|
|Dividends,
interest and rent from investments|||||(2,043)|(6,831)|
|(Increase)/decrease
in debtors|||||(5,796,656)|(2,481,279)|
|Increase/(decrease)
in creditors|||||5,445,552|279,425|
|Net cash provided
by (used inj operating|activities||||1,526,909|1,100,675|
|Analysis ofcash and cash equivalents|||||||
|Cash in hand|||||4,135,976|3,673,451|
|Total cash and cash equivalents|||||4,135,976|3,673,451|
##
##
##
##
##
##
##
##
##
##
##
##
##
|ANALYSIS O|F INCOME||||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Yearto|Yearto|
||||Funds|Funds|31March|31March|
||||2021|2021|2021|2020|
||||E|E|E|E|
|Donations,
grants and gifts|||639|1,691,995|1,692,634|1,219,441|
|Income from|charitable|activities|||||
|Conferences|and events||76,518||76,518|298,033|
|Research|||6,875,896|1,174,562|8,050,458|10,069,252|
|Subscriptions
Publications|||1,114,666
195,907||1,114,666
195,907|973,796
133,644|
|Income from|trading activities||||||
|Facilities / Room hire
Bank deposit interest received|||(1,734)
2,043||(1,734)
2,043|294,280
6,831|
|Total income|||8,263,935|2,866,557|11,130,492|12,995,277|
##
##
|Total costs|of activities|comprise:||||||
|---|---|---|---|---|---|---|---|
|||||||Yearto|Yearto|
|||||||31March|31March|
||||Staff|Direct|Allocated|2021|2020|
||||costs|costs|costs|Total|Total|
||||6|E|E|E|E|
|Facilities|||58,379|745|21,510|80,634|236,163|
|Fundraising|||195,576|1,215|72,056|268,847|281,557|
|Tota
I cost of raising funds|||253,955|1,960|93,566|349,481|517,720|
|Conferences
and events
Research
Publications
Membership
Other support to members
Governance
costs|||276,230
3,053,407
308,860
266,079
744,582
65,789|17,766
2,663,709
64,804|98,536
1,017,397
113,793
98,032
230,379
24,239|392,532
6,734,513
487,457
364,111
974,961
90,028|615,200
7,081,819
427,185
306,670
732,552
81,323|
|Total cost ofcharitable||activities|4,714,947|2,746,279|1,582,376|9,043,602|9,244,749|
||||4,968,902|2,748,239|1,675,942|9,393,083|9,762,469|
##
||||||Yearto|Yearto|
|---|---|---|---|---|---|---|
||||||31March|31March|
||||Finance and||2021|2020|
|||Establishment|Adminf|Otherf|Total
E|Total
f|
|Facilities||10,921|9,815|774|21,510|40,316|
|Fundraising||36,584|32,879|2,593|72,056|79,144|
|Conferences|and events|50,029|44,962|3,545|98,536|111,969|
|Research||516,555|464,236|36,606|1,017,397|1,030,633|
|Publications||57,775|51,924|4,094|113,793|108,445|
|Membership||49,773|44,732|3,527|98,032|90,342|
|Other support to members||116,969|105,121|8,289|230,379|211,158|
|Governance|costs|12,307|11,060|872|24,239|25,338|
|||850,913|764,729|60,300|1,675,942|1,697,345|
||||||Group and|Group and|
|---|---|---|---|---|---|---|
||||||Charity|Charity|
||||||Yearto|Yearto|
||||||31March|31March|
||||||2021|2020|
||||||E|f|
|Total expenditure
includes:|||||||
|Salaries and wages|||||4,145,427|3,696,799|
|Pension costs —defined||contributions||scheme|231,937|185,373|
|National
insurance|||||423,304|348,845|
|Holiday
pay reserve|||||70,574|25,392|
||||||4,871,242|4,256,409|
|The average number of||staff employed||during the year was:|93|86|
|Employees|remuneration|between|E60,000and f70,000||||
|Employees|remuneration|between|E70,000and f80,000||||
|Employees|remuneration|between|f80,000and E90,000||||
|Employees|remuneration|between|f100,000and f110,000||||
|Employees|remuneration|between|f130,000and f140,000||||
|Employees|remuneration|between|f150,000and f160,000||||
||||||Group and|Group and|
|---|---|---|---|---|---|---|
||||||Charity|Charity|
||||||Yearto|Yearto|
||||||31March|31March|
||||||2021
E|2020f|
|Net income forthe year||is stated after charging:|||||
|Auditor's
remuneration||for:|Audit fees||15,600|14,500|
||||(Over)/under|accrual in previous year|||
|Depreciation
Operating
lease rentals||—plant
—land|and machinery
and buildings||142,647
24,853
363,45&|76,552
24,865
331,837|
|Governance|costs comprise:||||||
|Staff costs|||||65,789|55,985|
|Establishment|costs||||12,307|12,942|
|Administration|costs||||8,997|7,138|
|Finance costs|||||2,063|4,627|
|Othercosts|||||872|631|
||||||90,028|81,323|
##
||||Other||
|---|---|---|---|---|
||Freehold|Assets|Tangible||
||land &|under|Fixed||
||buildings|construction|Assets|Total|
||6|E|E|E|
|Cost or value|||||
|At 1April 2020|12,750,000|640,503|1,444,436|14,834,939|
|Additions||664,996|174,695|839,691|
|Revaluation|(2,410,000)|||(2,410,000)|
|At 31March 2021|10,340,000|1,305,499|1,619,131|13,264,630|
|Accumulated
depreciation|||||
|At 1April 2020|||944,304|944,304|
|Charge for the year|||142,647|142,647|
|At 31March 2021|||1,086,951|1,086,951|
|Net book amount|||||
|At 31March 2020|12,750,000|640,503|500,132|13,890,635|
|At 31March 2021|10,340,000|1,305,499|532,180|12,177,679|
##
|7|CREDITORS|CREDITORS|||Group|Charity|Group|Charity|
|---|---|---|---|---|---|---|---|---|
||||||Yearto|Yearto|Yearto|Yearto|
||||||31March|31March|31March|31March|
||||||2021|2021|2020|2020|
||||||E|f|E|f|
||Trade creditors||||1,023,310|567,460|648,364|621,274|
||Sundry creditors and accruals||||2,235,165|2,645,365|645,147|609,624|
||Deferred|income|||6,421,436|1,158,233|2,940,848|1,567,586|
||Amount|owed|to group|undertaking||9,199|||
||||||9,679,911|4,380,257|4,234,359|2,798,484|
||Analysis|ofmovement||in deferred income|||||
||Group and charity||||Balance at|Income|Income|Balance at|
||||||1April|released|deferred|31March|
||||||2020|~in
ear|~in
ear|2021|
||||||E|f|f|E|
||Deferred|research income|||2,378,706|(771,366)|4,289,423|5,896,763|
||Subscriptions||in advance||562,142|(1,121,174)|1,083,704|524,672|
||||||2,940,848|(1,892,540)|5,373,127|6,421,435|
|8|AMOUNTS
FALLING DUE AFTER||||Group|Charity|Group|Charity|
||MORE THAN ONE YEAR||||Yearto|Yearto|Yearto|Yearto|
||||||31March|31March|31March|31March|
||||||2021|2021|2020|2020|
||||||6|E|E|f|
||Loans||||5,312,473|5,312,473|5,543,195|5,543,195|
||Loans are repayable
as follows:—||||||||
||||||Group|Charity|Group|Charity|
||||||Yearto|Yearto|Yearto|Yearto|
||||||31March|31March|31March|31March|
||||||2021|2021|2020|2020|
||||||6|6|f|E|
||Within one year||||216,046|216,046|212,060|212,060|
||Between|two and five years|||5,312,473|5,312,473|625,967|625,967|
||After five|years|||||4,917,228|4,917,228|
||||||5,528,519|5,528,519|5,755,255|5,755,255|
##
##
##
||||Land &||Yearto|Year to|
|---|---|---|---|---|---|---|
||||Buildings|Equipment|31March|31March|
||||||2021|2020|
||||||E|E|
|Due within one year|||390,000|31,077|421,077|425,645|
|Due after one year and within||five years|1,088,750|80,929|1,169,679|1,584,911|
|Due in|more than five years|||||5,845|
||||1,478,750|112,006|1,590,756|2,016,401|
|ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS|||||||
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|||||E|6|E|
|Fund balances at31March 2021are represented|||by:||||
|Tangible|fixed assets|||12,877,926|645,458|13,523,384|
|Current|assets|||11,482,464|3,802,328|15,284,792|
|Current|liabilities|||(9,895,957)||(9,895,957)|
|Long term liabilities||||(5,312,473)||(5,312,473)|
|Totalnet|assets|||9,151,960|4,447,786|13,599,746|
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|||||f|E|E|
|Fund balances at 31March 2020 are represented|||by:||||
|Tangible|fixed assets|||15,236,340||15,236,340|
|Current|assets|||6,001,704|3,023,907|9,025,611|
|Current|liabilities|||(4,446,419)||(4,446,419)|
|Long term liabilities||||(5,543,195)||(5,543,195)|
|Tota I net|assets|||11,248,430|3,023,907|14,272,337|
##
|RESTRICTED FUNDS|||||||
|---|---|---|---|---|---|---|
||||Balance|Income|Expenditure|Balance|
||||1April 2020|||31March 2021|
||||6|||E|
|The Thales Charitable
The 1831Fund
Google, Inc
61Whitehall
Fund|Trust||7,538
26,772
100,844
1,645,270|1,691,995|645,458|7,538
26,772
100,844
2,691,807|
|Research grants and|donations|fund|1,243,483|1,174,562|797,220|1,620,825|
||||3,023,907|2,866,557|1,442,678|4,447,786|
||||Balance|Income|Expenditure|Balance|
||||1April 2019|||31March 2020|
||||E|||E|
|The Thales Charitable|Trust||7,838||300|7,538|
|The 1831Fund|||26,772|||26,772|
|The Patron's
Fund|||2,500||2,500||
|Boogie, Inc
61Whitehall
Fund|||100,844
461,786|1,183.484||100,844
1,645,270|
|Research grants and|donations|fund|222,508|2,061,209|1,040,234|1,243,483|
||||822,248|3,244,693|1,043,034|3,023,907|
##
||Unrestricted|Restricted|Yearto|
|---|---|---|---|
||Funds|Funds|31March|
||2020|2020|2020|
||f|f|f|
|Income||||
|Donations,
grants and gifts|35,957|1,183,484|1,219,441|
|Charitable
activities|9,413,516|2,061,209|11,474,725|
|Other trading activities|294,280||294,280|
|Income from investments|6,831||6,831|
|Total income and endowments|9,750,584|3,244,693|12,995,277|
|Expenditure||||
|Raising funds|517,720||517,720|
|Charitable
activities|8,201,715|1,043,034|9,244,749|
|Tota I expenditure|8,719,435|1043034|9762469|
|Net income/(expenditure)|1,031,149|2,201,659|3,232,808|
|Other recognised
gains||||
|Revaluation
ofheritage assets|(650,000)||(650,000)|
|Disposal ofheritage assets||||
|Net movement
in funds|381,149|2,201,659|2,582,808|
|Balances at 1April 2019|10,867,281|822,248|11,689,529|
|Balances at 31March 2020|11,248,430|3,023,907|14,272,337|