THE ROYAL REGIMENT OF FUSILIERS
FUSILIEILS, AID SOCIETY
REPORT AND ACCOUNTS
31 DECEMBER 21120
RryJ#ered Charfty No. 259229

Page No.
T￿￿te¢5' Report
Atiditors. R¢port
ststement of Finl￿1?1 ActivitKs
Balance Sheet
10
11-16

en¢OfF
31
Managin8 TTU8ttt8
Major(Rdd) RJTu4)in. CThairn)an
(¢x officio 8tTA)iDtments) Colonel P Smitt
Coloael TW T8yh)r MBE (assumoj appl l Oct 2020)
Colonel J IAmb MC (L*%umed tppt 23 Apr 2020)
Brig￿ler M Butterwick CBE (relinquished appt 22 Apr 2020)
Colonel A Ga￿￿00￿ (assum￿ appt 23 Apr 20201
Bripjier J Swift OBE
Captsw (Rpjdl S Jubb
MajorlRdd) M O'H8re
Colottel (Rdd) NJP Easton QVRM TD
Major G¢neThl PAE Nan80D CB CBE (TelinquisI￿ appt 30 Sep 2020)
Nominated SKtetary to tbe Tru8t¢C8:
CaptAiD (Rdd) A R G HATri8
Addre5S:
HM ToThw ofLon&)n
EC3N 4AB
Bankers:
Lloyds BBnk TSB pk
72 FeD¢hurch Str¢a
EC3P 3EH
Inveytment Adviw
Jttxon House
i(Ki St Pauls Cbwchyard
ECAM 8BU
IndqJendeDt Auditor
Chartered Accountants
Ststutory Audito
2 Casde Business Villa8e
Staiion Ro
H8mpton
Middl&*x
TW12 2BX

of
Fuslllers. Ald So '
rt of Tht Trwtees
r ended 31 December
For the
The Trjstees take ple4sure iti presenting their rewr aDd aJ¥Jitryl financial ststern￿ts of Fu5Alicts' Aid Society C'FAS.) ft*r th¢
year endtyj 31 De¢ember2020.
STATUS AND ADMINISTRATION
Th¢ ChaTit4ble TTUStwas founded by TTUSt DeeA ID 1969. The re￿ charity number 16 259229.
Th¢ MaDaw Th1￿CeS (ex officio an￿]￿1￿c￿￿} who have serfftl during th¢ year wu¢.'
Major IRetd} RJ Twpits. Chairn
Colonel P Stitt
Colonel JW Taylor MBE (a&qumed awt l 2020)
Colonel J tAmb MC (&8SUtDcd appt 23 Apr 2020)
Brigath"er M Butterwick CBE (relinquished appt 22 ApT 2020)
Colonel A Gawth0￿¢ (p85Uln￿ appt 23 Apr 2020)
Bri¥udicr J Swift OBE
Captain (Retd) S Jubb
Major (Rehl) M O'HAre
Colonel (Reid) NJP Easton QVRM TD
Major CJenerAI PAE Nanson CB CBE (relinquished a￿t 30 Sep 21)20)
CHARITY OWECTS
The object of the So¢iety is to provide advice and usistsDtt, dir¢¢tly or iNlireetly. of capital or income. to 8uvin8 8nd pa8t
members of th¢ Re81[r￿￿t ard past members of the RegIti￿ts from wbich 1¢ fomie4 and their widows and depeDdAnts. by
Jnaking 8rants to them when in ne¢d and towards oJuutioD.
PUBLIC BENEFIT
Thc Tru$t¢¢s ¢onfinn that they h•v¢ wmplied with the in s￿#10￿ 17 of the CbAtiti¢8 Act 2011 to bave due regard to the
Charity Commis8ioll's Benetal guidaDL% OD public b¢n¢fit. The ptrpose of the cFwity is erffjhrin¢d ID its objects as outlined above.
The TnL8tees ensure that this i5 ¢aTried out for th¢ publi¢ benefit by delivains a range of artivities to mtet its objects.
ORGANISATIONAL STRucfuRE
The Society is oper&ted from our Regimentsl Headqu•rt¢T¥ at HM TOWLY of Loth. It is mana8fAI by the nine Managin8
Tru8tee&. 5 of whom are ex-officio #ppointiJe
The Assistant Re8imentsl Secw, Captsin A R G H￿[1& 18 the Nominated Secrelary of th¢ Chan'ty, and he 8¢rs as the
Accoullt Holder. The xrountio8 r#(Yds 8T¢ by C•pthw (Retd) A RG Ham8. Two otber8 Wi8t him on welfare
Through0￿ the acco￿ting wiod the Chairnw of the Rt8imetttsl Invwlment Comnurte¢ been Mr Clive Hexton. The
Re8imentsl Investment Cornmitt¢t ¢oniinues ￿ meet tivice a year and Sw¥sin Futtd Manw attend me¢tinBs for a ￿vieW
of the investment perf0rnW￿e.
FAS ¢OntiDU￿ to hotLour the obli8ation5 of the bM¥J&
2020 ha5 b¢¢n an ¢xtraordin8ry year. FAS Iw Contilluoj to fimrtion rettH)tely thrtng the COVID19 [￿1¢ r¢striction8. There
h#5 been no de￿dation of servio provided by FAS Is out systems ore Cloud cnabled.
FAS paid out granty forthe benefit of ￿￿1vIllU8l8 totalling £86.931 duriti8 the of 2020, reprw¢Dting 184 cases. Thi5 is a
slight decrease over previous yeArs whicb is refiex*d by The Arniy Benevolent Fund The Soldiers, Charity (" ABF SC,).
However, th¢ Trn8t¢¢s believe thelt ￿ a significarfpen¢ for ￿51$1#￿< 8s the ezonomic. ￿ka1 and health a8pccts of
the COVID19 pand¢]ni¢play out.

alR
eDtofF
Fusl]iers' Ald Socie
rt of The Trustees
ear ended 31 December 21120
For the
FAS eontitiues to enj()y 4¢1s>5¢ wokng T¢]ation8hip with ABF SC In the perK*l in question. the bAsis of fiujding changed
wh¢r¢by ABF SC made tbe paynThts r)ts behalf of Fusilicrs. Aid diTectly to the r¢l¢Y#Dt easeworking OTganisation. FAS
de a donation of £25.0￿ (£20.IKXI in 2019) to ABF SC ￿ allow thun to continue their activities. Thig iticre&8e grant was ts)
r¢fltct th¢ extra support that ABF SC prov￿& and coniinu&s w provid< to service ¢1￿111eS dwtllg the COVID19 pandemic.
ABF SC supported 43 charities and OTganisatsoDS on bthalf of FAS oth¢r ¢horitie4 awarding block 8rJnts to the v41
of£3.3m.
Dottaiiotts made by FAS to ¢x¢ern81 clwilies (including ABF SC) diredly SupWti￿ 8c¥ving and retired FusiIieTS totslled
£12,250. Welfare grants to our regu]Ar Battalioty reserv¢ Battyiion And ATMY Reserve units tota]led £20.072. This sum include$ 4
grant of £5,672 ts) l RRF for not¢books wntsining m￿thI halth (MH) iDfonDation and contsct points for 8¢rYing soldiers
their relhtives. A gmt of £30.000 w86 made ￿ IRRF to ¢Dabl¢ th¢m to purcb&* ar¢plac¢m¢lli weifkrt ]lliDibus. The Worshipful
Company of Cordw8in¢TS also gene￿lY th)Dated £5.￿} knvards this minibus.
£1.475 was paid ill Chrigthw grants ￿ widows and f8milie8 of killed i4iur&l Fusilier& including inw￿l0n¢TS at The Royal
Hospitsl, Chelsea and residents of Broughton How* Swttish vetera￿ Rexidenca.
FAS 5UPPOrted The Fusilier Musaun. Bthy. with ygnts totsllin8 £15.(KKI. allowin8 the to OD its WO￿ supporting
heritage And veterani. Cjrnnts kntslling £15.(KMJ were also pavj to the Fusilier Mut¢utn Warwick to enable the Muaellrn ￿ contknue
its work gUPPOrting herith8e atyj veter8DB' i88ueB. FAS COVID19 Support grall￿ to Fusilier8 Museum Bury. Warwick and
NortbutDberland totsllin8 £1,528 ts) ¢D4bl¢ the4e mu8¢urns ts) Comply with COVID19 guidelines attd ettable them to open to
visitor& A furt1￿ £10.071 was spenl gupportsn8 our muSeun￿ by gjbsidismg their insuranc¢ ptfflniums and assisling with other
costs 4nd ¢xpens¢8. FAS a150 contributed £1￿ ￿ enable The Fusilier W4rwi¢k Mu5eutn to purchw 4 plwue CQTnmemornting
Lucie Smith VC. The pl￿ned move of the Fusilier Museum Warwick fmm St Johns House to Pa8eant House has been delay
due to the COVID19 pandanic- it is now expect)J to tsk¢ p]ac¢ in 2022.
A total of £8.751 was sr¢nt on remembr8n¢¢ ￿tiviti￿ in 2020. A numbtr of ￿lIVitieS on this area were planne4 but then
C8DLelled due to pandemic. This has re8ulied in lus exr*ndiDJre thall in previous year& It ig exp￿ty1 that rem¢mbrancc gDd
0mm￿oratiVe events will re¢urn to Dortnal lertls ID 2021.
FAS granted a total of £13,361 to th¢ Fu$iliq A￿l￿10n Warwick to supwt the Ly)mDuIDMt rn￿e to honow the obligotionB of
the Royal Warwick Compassionate alld Welfare Fund (RWCWF).
Donations inlo the fimd for the year totalled £30.660. The FAS Low. Jaun¢b¢d in October 2019, p￿Ill¢ed an income of £6,236.
The One Days Pay Scheme contsnued to be well subscriw and produc•1 ao iTKOtne of ffi1457..
IMPACT OF COVIDI9.
When the possible impliutioGs of the COVID19 ODd th¢ T¢sultsnt I￿kdOWn other eetsnomie rne88ure4 became
clcBr in carly 2020 (possible reduccd capital valu4 pjssible Ttthicd tticome di5kn1Trution, possible InueaS￿ requests for
assistance, p)sgible need for in¢Te•sed Re￿Ments1 and Museum amongst othets). the Tntste&% acted on the
recomtnendatiots of the Investmeni Committee and realised £l(XI.(KKI, ￿ be kept as cash winst a p05sibl¢ loss of fvtur¢ income.
Th¢ TnL8te¢s 8150 undertook a r¢vi¢w of ￿1 FAS OFmtioDS to ¢Dsure that there would be no imp8et on the activities of the Charity
by the COVID19 restricttons {80¢ial di8lwJcm& ren￿tr workm& amongst others). AdoptioD of th¢6¢ measures ba$ ensur¢d that
FAS operations havc continue<L with little inconveniente to anyone.
In 2020. it oui that thwe have fewer for 8JsislaDce. This is countuintuilive as more trqucsts were aiiticiwed.
Howcyer, weworking organisalions IWJ to adapt to new of working ts) en5urc safe pr￿liCe. a￿1 this resul*d in fewer
requests for assistsnce bein8 made vi8 SSAFA and RBL. The TTttstees therefo￿ ensurnj th￿re1Cv8nt procedur￿ were put in
place to ensutz that h8Td8hip grants could be made direct fo g1w￿le individuth if necessw. attd thk4 happ￿ ona iotsl of 8
OC¢98i(TrnS.
Funthaisitig a¢tivities were affectaL Imt this lJaB hf•J iDwact of FAS re50urca.

FtrruRE ACTIVITIES AND DEVELOPMENTS
Donatio￿$ and legacies continue to be vitsl to FAS. and various furydraising ev¢ttts were planned for 2020. however du¢ to the
covtD19 palldemic, noDe took place.
FAS is govetlled by it5 ThLSt Deed signed in 1968. As such FAS is all ullin¢oryorat¢d trust. A futur¢ d¢v¢loprnent Rs beitsg
considered kn merge FAS wtth the other R¢gimentsl charity (the FusiliErs Fund. currently an excepted charity), and ai the s8me
'me convert to a CIO or CLG. We will rnsure that there is no chw¢ to thc charitabl¢ noz will there b¢ any other material
¢hange. Although a name Chattge may take place. and it 19 antieipated ib&t the work of FAS wtll co]Jtinue. However. updating the
charity's leg&1 will future pr￿f FAS and will give v8riou8 optiODS iti the fubjre. This work comtnenced in 2020 alld is
ongoing.
FINANCIAL RESULTS
The results are on pa8¢8 9 to 16 of tha¢ finatte1￿ Statenients
GRANT MAKING POLICY
A8SiStance is disbur8ed under the authority of the Th￿¢S to members of the Regimental Family who hav¢ f4]len on hard tirne
Donnally through no fault of th¢ir owtt. The asEistance provided is u8ually in th¢ form of fJnJncibl granls, however in addition
dvicc Lin w¢lfarc problems and other fit)an¢iaily r¢lat¢d problernB etc. is aIso available &nd holidthy.8 ar¢ aTrang¢d through th¢
Arnjy Benevolent Fund.
Th¢ Fu8ili¢rn' Aid Soclety does not make lofirjs other than in excep¢ioDal Situatlons. Listed below are the circum5rallc￿ wbere the
Tru8tees would not USU￿lY wth0ri8e aid. There 4r¢ hmvevw exception8 to the ruleB and all case8 are tr¢ated ott tbeir nherits..
A%8iStRn¢e to pay off fines.
Orant$ to car owners, unless medically Justified, as such ownership 1$ ttot ton$idtrnd synonymous with ￿Verty.
Payment of legAI bills, private medi￿1 bills buskness debts.
INVESTMETrIT POLICY
The investment powerg of the Charity arc 8ovcrned by the Deed of Tmst wbi¢h pemits the fiJnd8 to be Inve&t￿ in any inv¢stm¢nt
without the re8triction3 imposed by th¢ Trust¢¢ Investmellt Act 2961.
The R¢gimentsl inve&tments are managed by Sarasin and Parthers LLP, and fiLnd8 ar¢ held in their Alpha Fund.
RFSERVES POLICY
The TrustCC5 have examined the r¢quirement for frce re8erYe6 whicb ￿ th05¢ unrestricted fvnds not invested in fixed us8¢ts,
delignated for Sp￿lf1¢ purp￿￿e4 or otherwise c¢)mmitted. The Tr￿%1¢¢5 consider rhai, given the na￿re of the work of the Society.
And Ihg d9¢1FlQlI to illv•Btmmt property123 JA¢ot)g e.niirt), there Are Oijffieienl iJnreAlricted fiindB Itt BIVP
flexibility to cover temporary titnin8 differenc¢5 for grant claims and &deq￿le working Capital for ¢ore costs.
IUSK WAGEMEKr
The Trustees activ¢ly revi¢w th¢ m&jor ri8ks whieb the Society faces on H regular basis believe that maintainittg adequats free
r¢serves. Combined with the annual r¢vi¢w of the eontrols ov¢r key fllmncial systems will b¢ Sufficient to meet adverse conditions.
The Trustees have 8150 examined other operational and bu8ines8 risks including additional risks due to COVID-19 8nd hove
establis1￿1 8yStem8 to mitigate any sig1)ifi¢￿t r4sk

TheRo
rt ofthe Trustees
l Detember 2
TRUSTEES, RLSPONSIBILrriEs
Charity law requires th¢ Tn￿tt8 tb 8tstem￿ts for eacb fiDEnc1￿ which give a and fair view of the
state of Affairs of the charity ￿ the period end and of tts incomiD8 rwurees and reKWrc￿ exp￿d￿j duriug that period. In
pr¢p8Ting th0￿ rmanc1￿ $tAt¢m¢n¢4 th¢ TTUStee8 ￿treqUIre41 ￿.
sel* Suitable k¢¢ountitiB pli¢ie8 attd then apply them cA)D￿￿ta￿Y.
state whether ttpplieable xeiMmtiti8 s￿￿13[& statern￿ of prgclic* have been followeAI subje¢t to any
prepare the finftttcial Statern￿ on the 80iD8 C4JD£em kni5 wJl¢88 it IS iti4)pttyri6te to P￿ll￿¢ th¢ charity will eontinue
in busiae88.
The TNste¢8 respo￿lble for keeping prow aCmlin8 r￿d3 whicb di￿105¢ with rnwnobl¢ xcurncy et any time the
financial position of the charity and enabl¢ th¢m to ensurt the fin8ncwi sth¢ern¢nts ¢4)rnply wkth the Chartiies Act 2011. They
are 4150 T¢4P)nsibl¢ for 8&feguardin8 the a8sets of the chuity and lthce ftt rtawnable 8t¢ps for the prevention
ddeetion of fraud and Ot1￿ irre8ulaTitie5.
Approved by the Mana8itig TtU8te¢s si8o¢d co theirb¢balf by:
Major {Retd) R J Turpin
Tn￿le¢
D¥t¢'.

TheRts
alRe
ent of Fuslliers
Fu5illers' Aid So
lllde
ettdent Auditors. Re
rt tts the Tr stses of
i￿en, Aid Socie
OpiDlOn
We h&Ye audited th¢ fmancial sthtements of The Royal Regiment of Fusili¢rs Fu8iliers' Aid Society for the year ended
31 December 2020 which eomprise the ststement of financial a￿1vitie￿ the balance 8he¢¢ and the T¢lated notes, including a
Summary of Significant accounting poiieies. The financial reporting fralnework tbat bas been wlied IL) their prepdration is
applicable jaw and UDited Kingdom A¢¢oulltin8 Standards, including FRS 102 Section IA The FiDaThcial Reportin8 Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally Acc¢ptsd Accounting PracliGe}.
In our opinion the fjnancial sthtement8'.
81.vc a tnw and fair view of the stafr of the Charitys affatY8 as at 31 Deccmbcr 2020 and of Tts incom¢ and ¢xpcnditur¢ for
th¢ year then ￿mIed.
h8v¢ ￿en properly prepoTed in o¢¢ord¥n¢e with Utiited Kingdom Generally Accepted Accounting Prartice.
h8ve b¢¢n PTq>ared ip 4ccord4n¢e with the rwuir¢ments of the Charitie8 Act 2011.
Ba￿1 for opknlon
We conducted our Audit in accord8Ace wtth tntrrnational StAlldardB on Auditing (UK) {ISA8 {UK)) 2nd appli¢2bl¢ law. Our
r¢5ponsibiliti¢s und¢r thos¢ stand8rd8 4r¢ furth¢r d¢5cribd in the auditorfs resp()nsibilitie8 for the audii of thc financial stat¢m¢nts
section ofour reyort. We are independent of the Charity in accordance with th¢ ¢thi¢g1 rquirements that are relevallt to OUT audit
of th¢ fID￿CIal statem¢nt8 in the UK ineludin8 the FRC'S Ethical St￿dard. we have fulfilled our oth¢r ethical r¢8pon8ibilitL¢S
in accordance with th¢% requirements. We believe th4¢ the audit evtdenee we have obtained is sufficient and approprfate to
PIOVLd¢ 4 b¥3L8 for our QPiDiOn.
Con¢14￿on& r¢lAtlng to 8olng £ODeern
In auditing the financial ststements. we have c(mcluded that the Tn￿te£S Use of the goin8 con¢ern bagis of aceounting in the
pr￿aration of the fIn8￿]8] slaternents is 4ppropri4te.
Based on the work we have pdomled, wc have not identified any m&teriAI un¢e)tsinties r¢latin8 to events or ¢onditions tha(
individually or Collcrtively, m8y cas¢ yignifi￿￿t doubt on thc Charity's ability to continue a8 a going con¢¢m foT U P¢Tiod of at
lea9t twelve months from the finAneio1 statements are Authorised for i&8UC.
Our re¥pon#ibilities #t￿ the reBpon#ibilitieB of the Th]stee8 with reApect to going concern Bre deBcribed in the relevant A¢ttion$ tsf
this report.
Other thfom*tlo
The otb¢r information Comprises the itiforn￿tioll illLluded ID the 4Dnuai rewrt, other tbatt the financial statejnenis and our
auditor's report th¢r¢on. The Trust¢¢ is respotwible for the othcr inf0m￿tio1). Our opinion OD the financial ststements does not
¢over the other infom)ation and, ¢x¢ept to the exient oth¢￿1$C expliciily stated in our rq)orL we do not expre9s any forni of
assurance conclusioJ th¢r¢on.
In Connection with our audKt of the financial 8tstrm¢n￿ our responsibility is to Tead the other inf(fftnation ￿d. in doing so.
CODSLder whetb¢r the other intbrmation is [n&teri￿1Y inconsi￿t witb the financia181atements or our knowledge obtained ill the
audit or othenvise appeA￿ tr> be m#teria]ly misst&tg(L Jf we identify such inconsistencies or £ypaTent materi81
IDIS8tAtemeut8. we we required to detcrttiine whether ibere is a material mi8stat¢Jnellt in the fujancial statements or a material
misstatement of the other infomiation. If. bascd on thc work we have perfomie4 we conclude th&t th¢rc is a material missiat¢m¢nt
of th1$ other itifornMtioT¥ we are required to report that facL
We have nothing to report im this regard
P4ge 6

Fuslllers, AAd So¢1¢
Inde den
The
Auditsn, Re rt to the TTllSt
sillers, Aid Soci
CODtinu¢d
OplntODS illl Other pruerAbed by the Ch•rid¢s Act 2011
In our opillion. based on the work ulldertaken in the course of th¢ audit..
the inf0M￿tioll given in tbe Trn8tees report for the fwanciaE yeaT for whi¢h the fitmttcial statements are prepar&J is
consistent with the finallciBI statements,. alld
the Trustees report has been prepsTed in accordanc¢ with applithk legal r¢quir¢ments.
Matters on TYhl¢h we are requlred to report by exceptlon
In the light of the knowlcdgc and understanding of th¢ ¢on)pdny 8nd its ¢nvimnment obtsined in the course of the ￿d]E we have
not identifi¢d matyial rois8tat¢meDls in th¢ dir¢ctots' r¢wrt.
We have nothing to reNJrt in resp¢¢t of the followin8 mattus in relation to whith th¢ Cb4riti¢¥ A¢1 2011 rv4uires us to r¢port to
you if, in our opinioll..
adequate accounting records have not bc¢n k¢pt. or reftjrns adequate for our audit have not beeD rKeived frorn brats¢h￿ noi
visitd by us; or
the financial st4t¢ments aEe no¢ iti a8reetn¢nt with th¢ a¢¢ouutin8 record8 ood ielurn8,' Of
¢ert&in di8¢1osur¢$ of Trust￿$ r¢mun¢ration ¥pecified by law ore not mth. or
we have not received all the inf0m￿tIOn lod ¢xpl¥n4tiow we require for our audit.
Respon•lbllltl¢$ of the Trniteti
As ¢xplain¢d more fully iti th¢ Tru8*e$ r¢8rrt)Asibilitie8 statemenL the Tru8te¢s 8re r¢6ponBible for the preparntion of the fman¢ial
Statements and for being satisfied thRt they give u tN¢ ond fair view. llnd for such internttl control the dir¢c¢oT determines 1$
necessary to enable the preparation of fmancial siv4t¢m¢nts thal are free from material misststernenL whether du¢ to fraud or error.
In preparin8 the finan¢i41 ytstements, the Trystees are Te8ponsiblc for asse$8ing ihe Charity'5 ability to continue as a going
onccrn, disclo&itig, &* Applicable. m&tterg related to 80ing concern and using thc going cijn¢ern b8si$ of accounting unle85 the
director either intends to liquidate the oompany or ¢0 cease operntioi)8, or have no realistic &lternaliv¢ but to do 80.
Audltor'j r¢#potttslbllld¢• for th¢ #udlt of th¢ fln*nci*l fflt#t•m•nts
Our objectives ore to obthin re&80￿bI¢ 8syur8ne¢ glK>ut WhetI￿r the finAnciul statements 45 4 whole are free from n)8terial
mi&siatemenL whether due to fraud or erroT. ond to i5su¢ &n auditor'¥ rq)ort thai irtclud¢y our opinion. R￿SOn￿ble a$5uranc¢ is a
high l¢v¢l of assurance, but ts not & guardtttee that an audit condu¢¢ed ia ¥¢cordancc with ISAS (UK) will alw8y$ detect a rn&t¢Tial
iisstatement when it exists. Misststements c4n 8ri8e from fraud or error and are considered material if, individually or in the
48gregate, they ¢ou]d rethsonably be expected to influen￿ th¢ ewnomio decision8 of users tsken on the basis of th¢5¢ financial
st&tements.
Irregularities. including fraud. are instances of non-compliance wtth lawg and regulation& We design pro¢edures in line with our
Tesponsibilitics, outlined above, to detect material misstatements in r¢spect of Irregu1￿ltieS, including fraud. Th¢ extent to whtch
our procgjures are capabk of d¢t¢¢tiDg irregularitie4 including frnid ts detailed below..
We identify and assess the risks of material misstatern¢nt of the Ftnartci￿ Sthtements. whether due to fraud or error, attd then
design and perform audit procedllrts responsive to those risks. including obtatDin8 audit evidence that 18 sufficient atjd 8ppropiiat¢
to provide a basis for our opinion.
Identifyi￿8 and a8sessfing poteDdal rlsks related to Irrryul*ritleg.
In identifying and a&￿e$s1ng risks of m&teriai misststemellt io reSp￿t of irre8ularitie& in¢luding fraud and non-COEThpliance with
I&w8 and reguiatitsn4 our proc¢duw ittcluded tbe following:
Page 7

- enquiring of tnanagement whesber th¢y w￿¢ aware of any instances of fraud 0rnon4omplkat￿e with laws and regulation4
- obtailling 8n und¢rstandiD8 of tbe legal and regulatory fran￿work within wbich the company opcraw. The nMÉn laws and
regulations we considered as affecting tbe financial stat¢DJ¢nts were
the Charities Act 2011 and UK tsx legisl￿10￿.
- discwsing amongst the eDga8ernent team how alld where fraud might occur and atjy potential Indi￿t0[3 of fraud. As part of this
discussion we identified potrntial fraud risks in r¢latioll to n)8nagemeDt overyid¢ of ¢ontrol8 and grant expenditwe.
Audlt response to rl$k$ Id¢ntlfl¢d.
Our wocedur¢5 tt) respond to tbe ida&tsfied risks indud¢d..
- analytical review of the fujauciai st&l¢m¢ttts'
-Teviewin8 grant appllcations alld SUp￿)rtIng documentstion.
- examining journal ¢ntri¢s to address the ri8k of fraud through management override of CODtrols'
- review of th¢ disclo8Utes in the statements.
Owing ￿ the iTtherellt IAmitation8 of aa uudt¢ th¢r¢ is 8D uIhavoidable ri8k that some m8terial mis8tstements in th¢ finan¢1
staternents may not bE detected, even though the audit i% properly planned and perfomied in accordance with the JSA8 (UKI. For
instat)ce, the fiuth¢r r¢moYcd Don-compliance ig from the cvcnts and tTIn￿etiOns r¢flec*d in the finan¢iat sta￿￿¢nI& the les8
likely th¢ Huditor is to become awAre of it OT to r¢co8lli$e the non-compliance.
A further de8cription of our re5pon8ibilitie8 is aVAilabl¢ on tbe Financial Rwrtin8 Coull¢il's website
8t.. www.frc.org.uklauditot5responsibiliti¢s. Thi$ description fornjs p4rt of our auditor's report.
U•¢ ofour report
Thi8 report 18 mado solely to the Charities TrusteeN. au 8 b¢)dy, in Accordancc with Sedion 144 r)f the Cbaritie5 Act 2011 Wld the
regulations made within th&t Act. Our audtt work has been undut&k¢n ¥0 thAt we might gtstc ¢0 the Charity's Trustees those
matt¢r8 we are required to 8ta(e to them in an 4uditols roport and for no other purw8e. To the fullest cxlent pem)itteAI by law, we
do no¢ accept or a&8ume responsibility to allyone other than the Charity and the Cbarity's Trustees as a body. for our pudit worK
for tbis report, or for the opini¢)DS w¢ hav¢ forni
CAr¥th (Sgttlor St￿￿10ry Audltor)
Forand ott behalf of
PB Associates
charter￿ A¢wuntants & Stathtory Auditor
2 Castle Busines6 Villag¢
Ststion Road
Hampton
Midd1¢5¢x TW12 2BX
a<-2£)Li
FB ASSOCIA'fES
CHARTERED AccoufiTANrs
2 CASTLE BUSiNESS VILLAGE
STA'flON ROAD. HAMPTON
MIDDLESEX TW12 2BX
Pa8¢ 8

irnent Of F slliers
Fuilllers. Ald S
cie
Stgt
ment Of Actiwilles
( including the Income and Expenditure Account )
eAr ended 31 December 2020
Restric
2020
2019
Incomlng reJoU￿¢S
Yolr4rttory Income..
DonAUOnS. grants alld 8in)ilar ineomin8
resouT¢es
94.098
94.098
111.943
Inv¢slm¢nt in¢omc
Events aad fjjndraising incon
227.625
227.625
228,003
Tot•1 IDeomltt¥ re￿￿re
21
Resources expended
Property expenses
Events and fvndrai8in8 CQ8ts
Inve4tmetrt
mund8ement ciw8es and
ustodiwn f¢es
8,245
8.245
647
16,694
1,291
(2,044)
(2,044)
7,856
Ch4rltobl¢4¢rfvlrf&K'
Grants & othw c08ts ￿Yable
Am)y Benevolen¢ Fund
Dooatitsns to charities alld oth¢rs
8UO/o One Day's P4y ¢0 Th¢ F￿8l7￿Cr8 Fund
Funeral. Casualty and Remembrance
expenses
Offi¢¢ w5ts and tsther costs
189,119
189.119
182.909
3,005
24.675
$1,660
32,543
37,822
49.966
8.36S
42,822
49,966
8.365
14
TO¢￿ re8{J￿re￿ expended
95
00
(S.0￿))
26.389
21.389
16.617
other rec￿nIg8d 8iln$
Other rocogn16ed gAln8
Ullrealised g&inlllossl on quoted illvethents
Unrealised gaiDI(10ssI on tnvcstmtnt property
416233
416233
982,322
15
N¢t mtyvement In Ilnd8 for the yeAr
R¢conelllatloD of tot*1 fllndi
Total funds brought forward
(5,(KMI)
439.702
437.622
1,1)03,939
11.892
8.780.980
8,792,872
7.788.933
Fund cArrled forward
The Charity had no reeo8nised gait)g and losses other than those iticlllded above. All the above result5 sr¢ derived from
continuing a¢tivÈties.
Pag¢ 9

ent fF
F￿s￿lers, Ald
BalaJKe Sheet as at 31 De¢em
2020
2020
2019
Ftsed ailets
Tangible As8ets
Investment Property
Quot￿ Invc$tm¢nts
823
1,350.(KJO
1,357
1,350.0(K)
15
9021656
710410
Current amets
Debtor8
io
15,978
41,146
Cash at bank attd In hand
220,062
I￿,70]
Credltor•- All￿Unts follin8 due With￿ otte year
12
Nrt currents a8Kts
N¢t knets
R¢pr¢$eDt¢d by:.
Re¥triCted funds
Unreytricted funds
16
6.892
11.892
The financial 8thtements wwe approv￿ by the Boaftl of Truste¢s o
and signed on its behalf by:
M&jor Oietd) R J Turpin
Trnstee
Page io

alR
eBt Of
Fusiliera, Ald
ocle
Notes to the Financial Statsments
de
31D
Aettsuntlttg polld¢$
(a)
The finaucigl %ta*mu)ts arcpreparcd under the hi8torical ￿st conventiojj as modified by the inclusion of illvestWWLts al fi
V81uc &Dd in accordattte with FI[￿￿tial Reporting St#lldmi 1021"FRS 102')-Thc Financtal Reporting Standard applical)le
the Unit¢d Kingdom and th¢ Republic of Jrcland and with the Statement of Recommended Pra¢tic¢ 'knoutttirL8 and
Keporlmg by ch￿lties. FRS 102 as rtVi8¢d iti 20191" th¢ SORP'I tO8¢th¢r with th¢Cban'li¢8 Aa 2011.
Having review&1 the activiti¢s and pthTmgnc¢ of th¢ chan.ty and irito aCLyJunt the impact of COVID-19 the trJBte¢s
have re&sonabl¢ ¢xp¢etaiion that the charily ha8 adequate re$our¢es kn tottiinue iiy acisvkties fvr the furE&ceable futUT¢.
Accordingly they have A(k)pted th¢ Koio8 con¢¢m basis in th¢ pr¢parntion of thwe fJnatLcial 8tatemeDts Bs out]ined ill th
Sthtcment of Trnste&8' Respnsibilities.
(bl
Unrutrl¢ted fundi
Unrestticted futsds #r¢ donatiOll8 aDd other inco[[￿ rwéivable or genuated for the objects of the eharity without furtbor
Jpcciflcd purwse and aro 8vai]•bl¢ 1$ g￿rr#I fity¥J8.
(C)
RestriCl¥d fund8 4r¢ th08e to b¢u￿d forspecified puryo8es as laiddownby the donor.
(d)
T•A8lbl¢ fix￿ i••¢ts and dtprttl#tlo
Tangible fixd assets for use by the Clwity w¢ st8ted 8t cost d¢pre¢iation. DepT¢¢iilion 1$ provid¢d At rnt¢& ¢•lculAted to
wrio off the eo$t•f fixtJ 089¢18. thcirtS¢imAted reslduaj vAlu4 over theirexpgcted uselbj life on the followujg baqio..
CIFmputw w)IIwHte & equipment
4 ye￿8 stsaighl lilleb4¥is
le)
Jneome
Volurtt8ry io¢om¢ and donatiolls arc a￿Ount¢d for on u recrivablo buis by thc Ch￿lty. Thc value of tervicu Provid￿ by
volunteers h8S ttot been *n¢luded. L£yeies are aecoullted for lx) a r¢oeivthl¢ b48i8 whttt there is a￿Ul* ¢¢￿inty of
Ttccipt and v&luc.
10
Glft Ald Income
In¢orn¢ rnr¢iv&ble under gift Aid is included in the fillDmciRI st8*ments after Includt￿[tcDV¢reb]e ts￿l0Th.
Grant llloome
Gr8rtt irt¢ome is rfxogni8ed on a n¥ei•Able basis when the 8r8ntin8 or8attisathon 18 coJnmittoJ to payTrw)L
(h)
Ruourtu Expended
EXPU￿1￿￿¢ is ￿Cluded on all accThaiB basis.
Costs of getL¢ratin8 funds compri80 those costs direKtty attributEble to mar￿¥]￿8 tht illve5tment portfolio and taisjng
tnvulmcnt income as well a¥ cost of sale$ of chr1¥ts￿l4 Cards.
Oranls payable are ch8r8ed in the period when the otyer is conveyed to the recipient except in th08e easey whett the offer li
¢onditiotyal, su¢h belu8 r¢co8Di8ed ￿ expeodituto when thc conditson5 attactLillB Bre fvlflllod. Grnnts offered ￿bJ￿t
to Conditsons which have not be￿ met at the wiod end are noied 08 a ￿MMitmen1. butnot a¢cyued as expendiiutt.
OffLC¢ CO8¢s comwise COBIS forpmcesstttB 8r8nts alld applications. incl￿dIng 8UPIKTrrt to actual attd poteotLAi appli¢thts.
Ihv¢rn￿¢ ¢05ts include tlb)se associated with meeting the conjtitstiorwl and sthtuWrwuÈrements of the charity.
Slo¢k
Stock is v8lu¢d sttht lowa of ca%t n¢trrnlis&bl¢ uft¢rrnaknng alloWall￿ for obsol¢t¢ and slow moving iteats.
ti)
Ibotcd Investments are fmanctal iL8tnLttMts ststed at tt)arkel value. Reatised and unrealisa gains and losses de8lt with
in tht Slat¢mellt of Financial Adivities. Jnvc8thellt illwme plus a&80¢iated tsx recoverablc is ¢r¢ditcd to income on an
accnjals basi&
Pageil

e￿01
F sllltrs, Ald Sode
tr• the Fl#*nLiai Statem ts
r ended 31 December 202(1
For
subs￿lptions
62.457
64.600
Don8tion8
31.641
44.653
CrAnts
Grants ￿(eIVed from ABF Th¢ SoldiaB' Cbarity
Donltlon lrt Klnd
assistants. The estimat￿ voh* of this drywtion in kind durin8 the year was £IlL￿) (2019. £?,5￿).
lavMtmtnt In¢ome
Bank deposil Int¢rei¢
Interest on Fund Mana8er's dqx>sits
Inv&sttt)ent in¢omc from quotoj iov¢6SJJ
13
386
22
647
P¥g¢ 12

The ROY￿ R*Thent ofFu
Iyotes to the ￿￿￿￿¢￿al St*temeots
For the
Cost of gellerAthig
8245
16.694
Fundrnisiti8 event Costs
647
1,291
Fund m#naBemtnt eblr
M¥
Net 008syprofit on Mles
Charlt•bl¢ A¢tlvltl* Grnttts other eogts
Grants payable to iDdivi¢thJals & othern
189.119
182.9Y19
42.822
24.675
All grants payable thin8 the yearwere to memkn of the Re8imentsl family to ffli¢ve hard8hip.
Offlte erfts
Govern3nc¢ ¢osts { Note 7)
Aecountoncy feos
Le8￿ fees
Depreeiation
B8nk char8es
Travellin
Entertaining
IT support
Insuranc¢
Other
1.500
1.650
966
1,046
76
4J75
1.500
1,650
3,503
150
5,892
107
81
2,077
3,150
854
2.625
(1.186)
Page 13

alR
eTht fF
Notes tts the Fftsantlal St*teMthts
Govern*nee CoAts
Audit feeB
Ftsed ••Kt IDVUtments
Mark¢t v8iuc ai beginnin8 of year
N¢l cost L)f aLquisition
Disposals in y¢or
Re&lised Bain
Unrealised Bain
7265.014
6282.692
{160,(K¥O)
59,407
Market VY41u¢ at end of year of financial ￿ety fair va]
through the Income 4rtd Exprndityr¢ accowit
Ca8h held by fund m8Dag
7J27.246
7265,014
Htstoric cost of investments
The investments held ￿ 31 2020 w￿¢ 89 followo:_
Alpha CIF for Ettdowments Incotn¢- 6JQ)JIO units
market value
Tan8lble fixed Ajsets
At l January 2020
Additions in yeAr
£l4.013
12
At 31 December 2020
Deprecl*tlon".
Ai l January 2020
Charge for year
At 31 DecemE¢r 2020
£12.656
Net Book V￿me.
At 31 Decernber 2020
At 31 Decernb￿ 2019
Page 14

ThtR
ent of FuslllerA
Dtss to the Fi4anclal St8tem¢
020
io.
Debto
oi
Taxation re¢l3itDable aid itic•m¢
Otb¢r debtc
981
.913
14
Casb mt b*uk and ltt b*pd
12.
Credlton: amounts fallin8 th* witbin ye•r
AccnJ&l$
4236
13.
Tru8teu' remunerntlon
No Tn￿ttts r￿e1ved tetlluneratiofj or1ambu￿ of exF¢llSts duriD8 the ye* (2019.Vlil}.
14.
Related party tr•nMctlons
Dunng ihe year 80Y• of the 0￿ Day Pay d(4thtion8 Teceivabk have to the Fu8iliers' Fun4 a totsl of
£ 49,966 (2019-£51,6(4))
Page 15

Fuslllers, Ald Socle
Notes to the FID*ne1￿ St*tements
For Ibe
ew ethdeo 31 Deeember 2020
15.
Investment Property
The Chariry pllrdll￿ the lthg k&g¢hold OD 23 Jacana c(￿[( The City I)￿y. St Kat1￿1￿ Dock4 Lon(k*n Bl in June
In the OPiDiOD of the Tn￿te$ th¢ bti¥i8 of prowli￿ amtly TnaTketsJ ID the area the eslinuted markd
value of the prop¢ty * 31 D￿lber 2020 amounted to £1.350.CW (2019- £1.350.(KKJ).
16.
Re$trleted Funds
BJiF Memorial t
Balance ￿ be8innin8 of y
Donatiott4 rcccived duriD8 year
P8yrneDts during year
Balanc¢ &1 ¢nd of year
6.892
6,892
The £6.892 will b¢ u6ed 08 4 Mainte￿￿￿¢¢ fuwj for ts RRF MCD￿￿ at The Nation￿ Arboreb
B￿an(C at bc8inTring of th¢ year
Donatsons rweived durin8 yar
P8ym¢nts during ycar
Balance ￿ end of year
5.0
Total Re5trithd Funth
Page 16