Règlstered numbèr: 1014700
Charity numbers: 263004 and SC040724
THE SEALED KNOT
IA company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
*Ae02ZDJ6"
22109rd022
COMPANIES HOUSE
A18
#225

THE SEALED KNOT
{A ¢omp•ny limited by guarantoe)
CONTENTS
Page
Reference and administrative details of the charity. its t￿￿ and athiser4
Trustees. report
Independent exaffliner's rep¢)rt
Statement of financial activiiies
8alance sheet
Notes to the financial stalefflents
10-21

THE SEALED KNOT
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY. ITS TRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2021
Twstees
8 Uplon
S Wright
K S RO￿nsOn
V I Pearce
J R FovAer
J L Gwlliam
T P Small
D N Parkes
N C Jackson
T C Balth"n
C H J North-Baies
A B George
G M Hartnell (resigned 17 September 2021)
G King
R A Sales
T R Aldw"nckle IresLgned 4 March 20221
S M King (appointed 17 September 2021. resigned 11 June 20221
Company YegistÈred
numbèr
1014700
Charity rÈgistÉted
numbèrs
263004 and SC040724
Règistered offi¢¢
CIO Clarke Wiumott LLP Burfington House
8oUeigh Grange Business Park
Hedge End
Southampt(Ml
S030 2AF
Company secretary
C H J North-8ate5
Accounlants
Streets LLP
Charteretl Acc(￿lIantS
Tower House
Lucy T0￿r Street
Lincdn
LN1 1XW
Bankers
8ardays Bank Pl¢
Leicester
LE87 2BB
Solicitors
aarke Wdlmott LLP
Burtinglon House
Bodeigh Grange Business Park
Hedge End
Southampton
S030 2AF
Page 1

THE SEALED KNOT
{A company limittd by guarnnte•}
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustee5 pfesenl their annual report together the financial statemen15 for the perityj 1 January 2021 to
31 Oecember 2021. The TTUStees confirm that the Annual Report and Financial Ststemenls of the charitable
ompany comply wth the current statutory requirements. the requirements of the company's govemin9
document and the prowsions of the Statement of Recommended Practice {SORPI. applicable lo charib.es
preparing their accounts in accordance with Financial ftepo￿ng Standard applicable in the UK and Republic of
Ireland IFRS 102, effecbve 1 January 2015) as aM￿ded by Upjate Bulietsn 1 (effective 1 January 20151 and
Update Bulletin 2 (effective 1 January 2019).
Since the Ghantable ¢ompaAy qualffts as small under se¢b"on 383. the Strateg￿ report required of medium and
large companies under The Companies Aet 2006 (Strategic Report and D1￿cto￿$ Report) Regulakn"ons 2013 is
not required.
Objectives and Activities
a. POUCIES AND OBJECTIVES
In Setting objectives and planning for activities, the Trustees have given due consideratson to general guidanee
published by the ¢harity commission olatmg to public benefit.
The Eharitable company is principalty engaged in the present*ion of episodes irt history by means of play$,
pageants and theairical re-enaciment of battles a vkew to maintaining and encouraging, among member5 of
the public, the learning and study of history. This actiwty conb.nues lo be fixused on the Civil Wars vthich look
place in England. S¢oUand. Wale5 and Ireland during the seventeenth Gentury. Some of ihe company's events
take place in and around schools, reflecting Ihe company's status as an educaty.onal charit*)le organi5alion. Thi5
area of acbvity remains a focus for Ihe fulure.
b. ACTIVITIES FOR ACHIEVING OBJECTIVES
It is the policy ol the trustees to set aside a proptyffjon ol the SLwplus on musters *httich is available for charitable
purposes. These funds a￿ held in Ihe general bank accounts until fequired. As well as supporting the ongoing
activities of the soc1ety these monies have been used for Education. Commemoration and giving Bursaries.
Achievements and perforniance
. KEY FINANCIAL PERFORAIANCE IMDICATORS
The key financial perfomance indicator for the trustees is generaling a surplus of funds to maintain ils charitable
aims objeGlives.
b. REVIEW OF ACTIVITIES
The continuat40n of the Co¥rd-19 ep￿e￿i￿ continued lo make thing$ drffiuAt for the Socw in 2021, although by
the middle of the year reslrith'ons were becoming m¢)re relaxed. This allowed us to retvm to pvtb.ng on events.
not least wlh a majof muster al Cauldon Lowe over the August 8ank Holiday and our by n¢)w traditional event lo
mark the anniversary of the Battle of Edgehill at Kineton in WarvA¢kshire. Alongside Ihis we have maintained and
developed relats"on5hips wrth variou5 bodies such as the Battlefidd Trust. English Heritage and various museums
and vthere possible continued promoting the study of the English Civil War5.
Page 2

THE SEALED KNOT
IA company limit¢d by guarnntse)
TRUSTEES. REPORT (continuedl
FOR THE YEAR ENDED 31 DECEMBER 2021
Financial roview
a. GOING CONCERN
After makin9 appropriate enquiries, the trustees have a reasonable expectation that the chariiable company has
adequate resources to continue in opetats.onal existence for the ffftseeable fvture. For ihis Teason they continue
to adopt the gcyng concem basis in prepawin9 the ffinanaal stslernents.
b. RESERVES POLICY
It is the pdicy of the tnostees to retain sufficient finantial resources to ensure the operation of the charitable
company for a period of at least years exdusive of event based cosls in the event of either a significant
re¢Juthon In income or a signffj￿n1 increase in expenditure. This policy allov*d the tharrtable company to once
again offer reduced subscriptions renewAls for 2022 to rts exisling members in light of the ongoin9 epidemic.
Structurei govemance and management
a. CONSTITUTION
The charitable company is conSty"l￿ed under a Mernorandum of Asswaty"on dated 17 June 1971 and Is a
registered charity numbei 263004 (SC040724).
There have beeft no thanges in the obiectwes since Ihe last annual report.
b. IAETHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the charitable company is tt* re5ponsibi* of the Trustees are elected and co-opted
under the ternis of the Artides of Association.
c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
New trustees are made alYd￿ of their Tesponsikn"lth'es and the affairs of the charity. All trustees are kept aware of
the updates sent out by the Charity Commissioners vthich 15 now made easier by the introduction of electronically
transmitted information.
d. ORGANISATIONAL STRUCTURE AIIO DECISION IAAKING
The charrtable ccrfnpany is limr(ed by guarantee to Ihe extent of £1 per fvll memtkr. In accordance wrth the
Artide5. full membership should not exceed 2.000_ AJI the trustees are members of the Company. The BoaTd of
Trustees wnsists of 12 elected members. and five ex offioo officers". the Adjutant General (Dire¢lor of
Administration), the Company Secretary, the Lord General of the Royalist Am)y, the Lord General of the Amy of
Padiament and the Finance Director Irreasurerl. The elected pOs￿.0nS are normalty for a term of three years,
nd a third of these must be re•elecled at eath AGM. Once members are elected. they are expected to atten<J
four board rneetings a year, and parb"cip8te in the running of the charity, including the management of 3 specific
aspect. The ex offi¢ia positsons are apptynted by the bo*d ol lJustees. at the kn.me of the Fost be¢oming vacant
The Charity does not consider there to be any remuner*ed key management personnel.
The members of the ljoard during 2021 are listed on page 1.
Page 3

THE SEALED KNOT
(A company limited by guarantee)
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31 DECEPIBER 2021
è. RISK MANAGEMENT
The trustees have examined the principal weas of the Sealed Knot operations and have considered the major
risks faced in each of these areas. A programme lo assess risk and mibgate its effects has been set In train. 1115
feli U)at risks can and should be mitigated to an acceptable level in the day to day Nnning of the Sealed Knol.
I. FUTURE DEVELOFYaENTS
No significant chan9e5 have been ma¢Je in the company's aims and objectives during the pertod and the trustees
do not foresee any changes in the coming year. We wiu conbnue to support initsatives such a$ the Nasety
Batuefield Project and wil Gontinue V*rJrk on a number of anrbual commemorats've events such as those at
Nan￿￿Ch, Colefoid, Naseby. Marston Moor and Edgehill. We will strengthen our fepresenlats.on at other
endangered battle sites as may be necessary. We a￿ also kjoking lo c(x)tribute to varnus evenls organised by
English Heritage and help the Battlefields Trust develop thwr program to encoLtrage a greater underslanding of
Britlsh Military History.
2021 Saw Coionavirus and its a550ciated disease Cwck19 have a continued impact on the actiwbes tsf the
Sealed Knot. Due to the financial reserves built up over prewous years, the SoGiety has to date found itself In the
fortunate position of being able to mibgale any immediate finanual impact. As the crisis appeaT5 to be on the
dne the Trustee5 policy remaifts to be to expend reseThes PTudendy and circumstance5 allow to ensure
that reserves are held at the appropriate level whilst at ihe same bme returning to a fuller pro9ramme of events.
TRUSTEES. RESPONSIBIUTIES STATEIIENT
The Trustees (who are also diredors of The Sealed Knot for the Pu￿0$e5 of cornpany lawl are ￿SponSIble for
preparing the Trustee5' report and the financial siatements in accordance wth applicable law and United
Kingdom Accounting Standards {Unrted ￿.￿Jd0M Generaly A￿epted Accountsng Practice).
Company law requi￿$ the Trustee5 to ￿pare finanGial ststements for ea¢h financial year. Under company law
the Trustees must not approve the ffinancial statements unless they are satisfied that they give a true and fair
view of the stale of affairs of Ihe charrtable company and of the incoming resources and application of resources,
including the income an<J expendi(ure. of the tharitable company for that ptrriod. In preparing these financial
statements, the Trustees are required to..
select suitable accounting policies and then appty them consistenty..
observe the methods and principles in the Chanlies SORP."
make judgmeths and accounb"TrJ esiimates that are reasonable and Pfudent,.
prepa￿ the financia stalemenls on Ihe gory concem basis unless it is inappropriate to presume th* the
charrtable company ￿11 continue in operatwi.
The Trustees are responsible for keepin9 adequate 4ccountsng records that are sufficient lo show and explain
the chantable companvs transactions and disd05e Vlith reasonable accuracy at any b.rne the finan¢i¥l position of
Ihe Gharilable company and enable them lo ensure Ihat the financial statements comply wth the Companies Act
2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable Steps for the prevention and deteCt￿n of fraud and other irregularthes.
The Trustees a￿ responsible for the mwntenance and inte9rty of the corporate and financial infwmalion
included on the charitsble companls ￿bsite. Legislaliryi in the Unrted Kingdom governing ihe preparation and
dissemination of financKal statements may drffer from legislaknon in other jurisdictr'ons.
Page 4

THE SEALEO KNOT
(A ¢ompany liThited by guarantr¢)
TRUSTEES, REPORT (continu•dl
FOR THE YEAR ENDED 31 DECEMBER 2021
This report was approved by the Trustees. on 1 July 2022 and swed on their behalf by..
C H North-Bates
Twstee
Page 5

THE SEALED KNOT
(A company limited by guaAnte•l
INDEPEP4DENT EXAMINER'S REPORT
FOR THEYEAR ENDED 31 DECEMBER 2021
INDEPENDENT EXAMINER'S REPORT TO THE TRVSTEES OF THE SEALED KNOT lthe 'charitable
company'l
I report to the charity Trustees on my examination of the accounts of the charitable company for the year ended
31 Decembef 2021.
This report Is made solely to the charitable company's Trustees, as a body. in aC￿rdanCe wlh Part 4 of Ihe
Charits"es Ikcounts and Rep￿15) Regulations 2006 and regulation 11 of the Charities Accounts (Scollandl
Regulations 2006. My work has been undertaken so that I might slate to the eharilable company's Trustees
those matters l am required to state to them in an Independent examinerfs Teport and for no other puryJ05e. To
the fullest exlenl perrnitted by law. I do not accept or assume responsilylity to ar7yofte other than the ¢haritable
c(ynpany and the Gharitabie ¢ompany's Twstees as a body. for my V￿rk or for this report.
RESPONSIBILrriES AND BASIS OF REPORT
As Ihe Trustees of the Charrtab￿ company land rts directors for the purposes of ￿MpanY lawl you are
responsible fof the pfeparation of the accounts in accordance wth the requirernents of the Charits"es and Trustee
Investments (Scollandl Act 2005 (Ihe 2005 Act'l, the Charities Accounts (Scotlandl Regulab"on5 2006 las
amended) llhe 2006 Aecovnls Regulats"ons) and the Companies Act 2006 Ilhe 2006 Act'l. You are satisfied
that the accounts of the chartsble ¢ompany are not reqLMred by charity or ￿pally law to be audited and have
chosen instead to have an independent examination.
Having sat15fied mysew that the accounts of the chantable company are not requsred to be audited under Part 16
of the 2006 Act and are eligible for independent examination. I report in respect of my examinabon of the
chaThtable company's accovnts carrietl undef secb.on 44111(c) of the 2005 Act and section 145 of the
Charities Act 2011 Ilhe 2011 Act). In ca￿￿￿9 cwJt my examination I have followed the requirements of
Regulation 11 of the 2006 Accounts Regulalion5 and the Directws gr¥en by Ihe Charity Commission under
section 14515llbl of the 2011 Act
INDEPENDENT EXAIIINER'S STATEMENT
I have COrnFAeled my examination. I can confirm that no matters have come lo my attenb.on in connection with
the examinats'on giving me Gause to bel*¥e:
accovnling records were nol kept in respect of the charilabje c¢Ynpany as required by secbon 3B6 of the
2006 Act and Regulatr"on 4 of the 2006 Account5 Regulab"ons". or
the accounts do not accord those records or Tmth the accounting requiremems of Regulab"on 8 of the
2006 A¢¢ounts Regulats"ons", or
the a¢¢oun15 do not compty wth the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a Irue and fairf view vthich is not a matter considered as part of
an independent examination. or
the accounts have not been prepared in accordance the methods anfl prinoples of the Statement of
Recommended Pracb¢e for a¢¢ounting an¢J reporting by chanties lapplicable to charib'es preparing their
accounts in accorrlan¢e with the Financ￿1 Repo￿"n9 Standard applicable in the UK and Republic of
Ireland (FRS 10211.
I have no concems and have come acTOSS no other matters in connectton the examination to which
attenb.on Should be drawn in this report in order to enable a proper understanding of the accounts lo be reached.
Pa9e 6

THE SEALED KNOT
(A company limitsd by guar4ntsÈl
INDEPENDENT EXAMINER'S REPORT Icontinu¢d)
FOR THE YEAR ENDED 31 DECEMBER 2021
Signed..
Daled.. 7 Juty 2022
Robert Anderson FCA
STREETS LLP
Chartered Accountants
Tower House
Lucy Tower Street
Lincoln
Page 7

THE SEALED KNOT
{A company limited by guaTrntse}
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATIPIG INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEPIBER 2021
Restricted Unvestri¢ted
funds
funds
2021
2021
Totsl
funds
2021
Total
lund5
2020
Ilot•
INCOME FROM..
Voluntary in¢ome
Charitable activits'es
Other fvndraising income
Inveslmenls
66,740
5,890
5.637
39B
66,740
5.890
5.637
398
64,860
3,506
3¢Y7
435
TOTAL INCOME
78,665
78.66S
69. 188
EXPENDITURE ON:
Raising funds
Charilabte actiwties
8.365
55.932
8,365
55.932
9,791
43,817
7,9,8
TOTAL EXPENDITURE
64.297
64,297
53,608
NET INCOME BEFORE TRANSFERS
Transfers betsveen Funds
14.368
68
14.368
15,580
16
168)
NET INCOME I {EXPENDITUREI BEFORE
OTHER RECOGNISED GAIt4S AND
LOSSES
168)
14,436
14.368
15,580
NET MOVEMENT IN FUNDS
168)
14.436
14,36B
15,580
RECONCILIATION OF FUNDS:
Totsl funds brought forward
1,526
319.646
321.172
305,592
1.4S8
334.082
335,540
321, 772
TOTAL FUNDS CARRIED FORWARD
The notes on pages 10 to 21 form part of these firwicial statements.
Page B

THE SEALED KNOT
(A company limited by guaTrnteel
REGISTERED NUIABER: 101471x1
BALANCE SHEET
AS AT 31 DECEA18ER 2021
2021
2020
Mote
FIXED ASSETS
Tangible assets
CURRENT ASSETS
Stocks
12
5.732
7.642
13
8.221
37.669
324,916
7.575
5,850
339,213
Debtor5
Cash at bank and in hand
14
370.806
352,638
CREDITORS: amounts falling due wthin
one year
140.998)
f39, 1081
NET CURRENT ASSETS
329.808
313.530
NET ASSETS
335.540
321, 172
CHARITY FUNDS
'Re5tricted lunds
Unrestricied funds
16
16
1.458
334.082
1.526
319,646
TOTAL FUNDS
335,540
321, 172
The charitable company's finanrial statements have been prepared in accordance vith the provisions apF4icable
to companie5 subject to the small companies regime.
The Trustees consider that the charitable company is entsded to exempbon from the requyemenl to have an
audrt under the prowsion$ of section 477 of the Companres Act 20061.lhe Acf'i and members have not require
the charital￿e company to obtain an audit for Ihe ye* in queskn.on in a¢cordance ￿ryth sethon 476 of the Act.
The Trustees ackno*ledge their re5ponsith"lities for comptymg the reqU￿ernents of the Companies Act 2006
wtth respect lo accounbng re¢ord5 and the preparabon of financial statements.
The financ￿7[ statements were approved and aulhorised for issue by the TnJstee5 on 1 July 2022 and Signed on
their behalf, by".
S Wright
G King
Tmst•e
Trustew
The note5 on pages 10 ta 21 form part of Ihese financial statements.
Page 9

THE SEALED KNOT
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OECEM8ER 2021
ACCOUNTING POLICIES
1.1 Basis of preparation of financial statemonts
The finan¢ial 5talemenls have been prepared in aG￿rdance *ith A¢counts'ng and Reporting by
Charities.. Statement of Recommended Prath"ce applicable to charitles preparing their account5 in
accordance Mth the Finanual Reporty"ng Standard applicable in the UK and Republic of Ireland {FRS
1021 leffecb.ve 1 January 20151 {Charits"es SORP IFRS 1021). the Finan¢ial Repo￿ng Stsndard
appli¢able in the UK and Republi¢ of Ireland IFRS 102) and Ihe Companies Act 2006.
The Sealed Knot meets the defin￿.0￿ of a public benefit entity under FRS 102. A55ets and liabilities
are inilialty recognise<l al historical ¢osl or transa¢b"on Value unless oth￿￿Se slated in the relevant
accounting policy.
1.2 Company ststu$
The charitable company is a company b"mrted by guarantee an*Y a registered charity. In the event of
the chawitable company being wound up. the 11"ab￿lty in resped of the 9yarantee is limited to £1 per
member of the charitable company.
The charities funcb.onal and presentstion c￿r￿nCY is p￿ndS sterfing.
In accordance wth the Artides membership Should not exceed 2.000.
1.3 Fund accounting
General fun¢Js are unrestncted funds which are available for use at the discretyon of the Trustees in
rtherance of the general objectives ol the charitable company and Ithich have not been ¢Jesignate¢
lor other purposes.
Oesignated funds comprise vnrestrided f￿￿$ that have been set aside by the Trvstees for
particular purposes. The aim and vse of each des￿nated fund is set out in the notes to the financial
statements.
Restricted lunds are lunds which are to be used in accordance spe¢thc restn"ctions imposed by
donor5 Of which have been raised by the tharrtable ¢ompany for parb"cular purposes. The costs of
raising and administering such funds are charged against the specthc fund. The aim and use of ea¢h
restricted fund is set 04rt sn the notes to Ihe financial statements.
Pa9e 10

THE SEALED KNOT
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMEPITS
FOR THE YEAR ENDED 31 DECEMBER 2021
ACCOUNTING POLICIES Icontinuedl
1.4 Income
l income is reujgnised once the charitable company has enbdement to the income, il is probable
ihat the income wll be received and the amount of income [ec￿vable can be measured reliably.
Donated se￿ceS or faulrties are recogn￿1 ￿t￿n the charitable company has control over the item.
any condition5 associated the donated item have been met. the receipt of economic benefit
from the use of the charitable company of the rtem is probable and that economic benefit can be
measured reliabty- In accordance V*ith the Chanlies SORP IFRS 1021. the general volunteer time of
the Friends is not recognise(l and refer to the Trustees, re￿t for more informalK￿ about their
ntribubon.
On re¢*pl. donated professional semces and donated facifities a￿ recogni5ed on the basis of the
value of the 9rft lo the charitable ¢ompany is the amount the charltsble company would have
been willing to pay to obtain services or facilibes of equivalent eC(￿Orn￿ benefit on the open market,"
corregponding amount is then recTr3nised in expenditure in the peri¢xl of receipt.
Income tax recoverable in r￿at1￿ to donats.ons received under (&ft Aid or deeds of covenant is
recc43nised at the time of the donation or in a later period Kthen it meets the income recogn￿'On
criteria.
Income tsx recoverable in relth.on to investment income is reecgnised at the time the investment
income Is receivable.
Other income is recognised in the period in tAthith it is receivable and to the extent the goods have
beerh prowded or on complets.on of the service.
1.5 Expenditurn
Expendrture is recognised once is a le9al or con5trucb.ve obligation lo transfer e¢onomic
benefit lo a thir¢J party. it is pr¢*)able that a transfer of e￿nOMiC beneffts will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
activity. The costs of each actsvity are made up of the total of direct costs and shared costs,
inrluding 5L*PPOrt wsts invdved in undertaknng ea¢h adivty. Direct costs attributable Io a single
acti¥ty are allocated dire¢dy to tt)at acbvity. Shared costs %thi¢h ¢ontribute to more than one activity
and support costs ￿lch are not attributable to a single actiwty are apportioned between those
actiMb"e5 on a basis ¢onsislent the use of resources. Central Stsff costs are allocated on the
basis of ts.me spent. and depreciation charges allocated on the porbon of the asset's use.
Govemance costs are those incurred in connec￿￿ *iih adminislrabon of the charitsble company
and cOm￿lar￿￿ *ilh c0nsbtutior￿L and statutory requirements.
Costs of generabng funds are costs in¢tffred in attrath.ng w)luntary in¢ome. and those incurred in
trading actiwbes that raise fvnds.
Chantsble a¢tiwts"es and Governance costs are costs incurred on the charrtable company'$
edu¢ational operations. including support ¢0St5 and c05t5 relab.ng to the goveman¢e of the
charitable ¢ompany apporti'oned to chaittsbTre ￿ti￿tieS.
Page 11

THE SEALED KNOT
IA company limited by guarnnts•)
NOTES TO THE FINANCIAL STATEMEt4TS
FOR THE YEAR EPIOED 31 DECEMBER 2021
ACCOUP4TING POLICIES Iconlinuedl
1.6 Tangible fixed assets and depreciaiion
All assets costing more than £500 a￿ capita￿'sed as *tll as lower Value assets that are deemed to
have a long stxial lrte.
A re¥iew for impaimient of a fixed asset is ramed out rf events LY changes in circumslances indicate
that the Car￿n9 value of any fixed asset may not be recoverable. Shortfafis belween the carrying
value of fixed assets and their recoverable amounts are re¢o9nised as impaiments. Impairment
losses are recognised in the Statement of finanoal activthes incorporaling income and expenditure
account.
Tangible fixed assets are Carr￿ at C05t. net of depreciati{￿ and any provision for impairmenl.
Depreuatson is prowded at rates caleulated to vrrite off the cost of fixed assets. less their estimated
residual value, over their expected usefvl Itves on the foll￿￿￿9 bases-.
Motor vehiGles
Office equipment
25% redu¢ing ba￿ce
25% reducing balance
1.7 Stocks and work in progress
Stocks and I￿rk in progress are valuet1 at the Iv*er ol cost and net realisa￿e value. on a first in first
out basis, after making due all￿wanCe for obsolete and SI0￿m0¥7￿9 st￿kS.
1.8 Intsr•st rnceivabl•
Interest on funds held on deposrt Is included vthen receivable and the amount can be measured
reliably by Ihe charilable company" this is normalty upan notificatson of the interest paid or payable by
the Bank.
1.9 Debtors
Trade and other deblors are recognised at Ihe setllement amount after any Irade discount offered.
Prep8y7nents are valL￿d at the amount prepaid net of any trade discounts due.
1.10 Cash at Banlt and in hand
Cash al bank and in han(1 indudes Ga$h and short temi higNy liquid in¥estrnents with a short
malunty of three months or less trom the date of acquisitK>n or opening of the dep0511 or similar
accounL
1.11 Liabilities and provislons
Liabilrties are recognised when Ihere is an ot4igakn.on at the Balance sheet date as a ￿$vIt of a past
event. it is probable that a transfer of economic benefit wll be required in settlement, and the
amount of the settlement can be esbmated reliatrjy. kn"abilTb"es are recognised at the amount that the
thaTitabJe Company anb"ripates it s%ill pay to setve Ihe debt or the amount it has r￿e1Ved as
advanced payments for the goods or seMces it must provide. Provi3ion5 are measured at the best
estimate of the amounts required lo setue the Obluat￿.
Page 12

THE SEALEO KNOT
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ACCOUNTING POLICIES Iconllnuedl
1.12 Financial instruments
The charitable company onty has financial asset5 and financial liabilrties of a kind that qualify as
basic financial instnjmenls. Basic finan¢ial instruments are inrtialty recognised at Iransaetion value
and subsequently measured at their se￿eMent value the exception of bank loans vthich are
Subsequently rneasu￿d at amortysed cost using the effective interest method.
1.13 Subscriptions
subscriptr.on income is accounted for on a receivable basis.
1.14 Consolidation
The Sealed Kr￿t has a s1gnifficant number of ￿gimentS throughout the country, vthich have their own
bank accounts and whi¢h produce their accounts. It is ¢onshlered that these regiments have
sufficient financial and administrative autonomy that their accounts do not need to be in¢luded in
these finanaal statements.
VOLUNTARY IhlCOME
Restricted Unrestri¢ted
fund$
funds
2021
2021
Totsl
lund$
2021
Tolal
funds
2020
Subscriw'ons
39.72S
26.882
63
70
39.725
26.882
63
70
64.763
Sale of shirts
Ott)er Income
97
Total voluntary incorne
66,74D
66,740
64,860
rolal 2020
64,860
64,860
FUNDRAISING INCOME
Rostrict¢d Unrestricted
funds
funds
2021
2021
Total
funds
2021
Total
funds
2020
Traders and Fdming Income
5,637
5,637
387
Tolal 2020
387
387
Page 13

THE SEALED KNOT
IA company limited by guarant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2021
INVESTMENT INCOME
Restricted Unre$tri¢ted
nds
funds
2021
2021
Total
funds
2021
Tot81
runds
2020
Interest ReceNable
398
398
435
Total 2020
435
435
INCOME FROM CHARITABLE ACTIVITIES
R•strict•d Unre$tricted
funds
funds
2021
2021
Total
funds
2021
Total
funds
2020
Muster Income
S.890
S.890
3,506
Total 2020
3.506
3,506
COSTS OF RAISING FUNDS
Restricted Unrestricted
fvnds
fvnds
2D21
2021
Total
fund$
2021
Tolal
lunds
2020
Printing. Fwtage and stati
Office expenses
8.127
238
8.127
238
8.919
872
8.36$
8.365
9, 791
Total 2020
9. 791
9,791
Page 14

THE SEALEO KNOT
IA ¢ompany limited by guarantsel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EMDED 310ECEM8ER 2021
GOVERNANCE COSTS
Restrict•d Unrnstricted
fvnds
funds
2021
2021
Total
funds
2021
Total
funds
2020
Offi¢e expenses
Legal and Professional
Independent examiners fees
160
S71
1.900
160
571
1.900
2.172
681
1,900
2.631
2.631
4.753
DIRECT COSTS
Muster and
Events
Total
2021
Total
2020
Muster expenses
Muster bounty and amiy grants
Black powder
Motor and travel costs
50th Anniversary G05ts
Medical cover and supplies
Horse hire
Charitsble donatsons
Bank charges
Depreciation and Ios5 on disposal
12.988
1.395
2.495
1,777
12.988
1.395
2.495
1.777
1.651
7,015
2,108
70
351
1.727
4.375
950
1,128
1.727
4.375
9SO
1.128
1.911
1,019
3.206
28,746
28.746
15,420
Tol812020
15,420
15,420
Page 15

THE SEALED KNOT
(A company15mited by guar•nts•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 DECEMBER 2021
SUPPORT COSTS
Muster and
Events
Total
2021
Total
2020
Insurance
Web srte and IT costs
Sundry
17,104
6,910
541
17,104
6,910
S41
IT,472
5, 728
444
24.555
24,555
23,644
Total 2020
23,644
23,644
10. NET INCOMEIIEXPENDITUREI
This is stated after charging..
2021
2020
Depreciation of tsngible fixed assets..
- owned by the charity
1.911
2,547
During the year. no Trustees received any remuneration12020- £NILI.
Dtjring the year. no Trustees rece(ved any benefits in kind (2020 - £NILI.
6 Trustees ￿ceiVed reimbursement of expenses amounting to £7541 in the currenl year, {2020
Trustees - £65831. These amounts represent the reinbursement of charity business runnin9 expenses
paid by Trustees on behaw of the charity and include £255 in travel and 5ubststence.
11. AC¢OUNTAPIT5' REPIUIIERATK)N
The Independent Examinefs rernunera1￿ aM￿nIS to an Independent Examinab"on fee of £1.90012020-
£1,900).
Page 16

THE SEALED KNOT
(A company limtied by guarantee)
NOTES TO THE FINAIICIAL STATEMENTS
FOR THE YEAR Ef4DED 31 DECEMBER 2021
12. TANGIBLE FIXED ASSETS
Olfi¢e and
other
oquipmènt
Motor
vehicles
Total
Cost
At 1 January 2021 and 31 December 2021
25.910
15,985
41.895
Depreciation
At 1 January 2021
Charge for the year
21.233
1.169
13.020
741
34,253
1,910
At 31 December 2021
22.402
13.761
36,163
Net book value
At 31 December 2021
3.508
2.224
5,732
At 31 December2020
4.677
2.965
7.642
13. STOCKS
2021
2020
Polo Shirts
Black Po*rler
434
7.141
8,221
8.221
7,575
14. DEBTORS
2021
2020
Trade debtors
Other debtors
Prepayments and accrued income
180
2,695
2,975
33.114
3.571
37,669
5,850
Page 17

THE SEALED KNOT
(A ¢ompany limited by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021.
IS. CREDITORS.. Amounts falling due withln one year
2021
2020
Trade creditors
Accruals and deferred income
1.024
39,974
2,009
3T.099
40,998
39, 108
O•ferr•d income- subscriptlon$
Deferred income at 1 January 2021
Resources deferred during the year
Amounts released from premous years
37,187
39,286
(37,1871
Defefred Int￿)e at 31 December 2021
39,286
16. STATEMENT OF FUNDS
STATEMENT OF FUNDS- CURRENT YEAR
Balanro at
31
December
2021
Balance at
1 January
2021
Transfers
Inlout
Income Expendlturt
Do5ignat•d funds
Bursary Fund
3.500
3,500
G•neral fvnds
General Fund5
316.146
78.665
(64.2971
330,S82
Total Unrestricted funds
319.646
78.665
(64.2971
68
334,082
Restricted funds
Liquidation account
Promoting Ihe PAoJyneux name
943
583
1681
875
583
1,526
1681
1,458
Total of funds
321.172
71,665
(fj4.297)
335,540
Page 18

THE SEALED KNOT
(A cmipany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 DECEMBER 2021
16. STATEMENT OF FUNDS (continued)
STATEMENT OF FUNDS- PRIOR YEAR
Balan￿ at
31
December
2020
Balance al
l January
2020
InGorne Exp8ndrture
Bursary Fund
General Fund$
300,566
69,188
{53.608J
316, 146
Restrictod fund$
Liquidation aCC￿nI
Promobng tre Molyneux rwne
943
583
943
583
1.526
1,526
SUMMARYOF FUNDS- CURRENT YEAR
8alance at
31
Trnn$fers December
inloul
2021
Balance at
1 January
2021
Income EX￿Nd1￿1￿
Designatedlunds
General fijnds
3,SOQ
330,S82
316.146
78.665
164.2971
68
319.646
1.526
78,665
164,2971
334.082
1.458
Restricted fun¢Js
1681
321.172
78.665
164,2971
335.540
Page 19

THE SEALED KNOT
IA company limited by guarnnteel '
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
16. STATEMENT OF FUNDS Icontinuedl
SUhlMARY OF FUNDS- PRIOR YEAR
Balance At
31
December
2020
Balance al
l January
2020
Income Expenditure
Urrrestncted fvnds
General fvnd$
300.566
69,188
(53,608J
316. 146
304.066
1.526
69, 188
{53,608J
319.646
1,526
Restricted fund5
305,592
69.188
(53.608J
321, 172
The liquidation account represents the amounts paid by subs¢ribers on betoming fvll members at an additional
cost of £1 Fer membei. Restricted funds are also heM to promote the Molyneux name.
The bLKsary ftjnd represents amounts set aside for educab.onal bursary awards to members.
17. ANALYSIS OF NET ASSETS 8ETWEEM FUNDS
ANALYSIS OF NET AS5Efs BETWEEN FUNDS- CLIRRENT YEAR
Restricted. Unvestricted
funds
funds
2021
2021
Total
fvnds
2021
Tangible fixed assets
Current assets
Creditors due wthrn one year
,731
369,348
140,9971
S.731
370.806
{40.997)
1.458
1.4S8
334,082
335,540
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
RestsKted un￿Str￿ted
fun(ts
lunds
2020
2020
Total
lunds
2020
TaThJible fixed assets
Current assets
Creditors due within one year
7,642
351,112
(39, 108J
7.642
352,638
(39, 108)
1.526
1.526
319.646
321, 172
Page 20

THE SEALED KNOT
IA company limited by guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
RELATED PARTY TRANSACTIONS
The company is controled by its Board of Trustees.
Page 21