THE MERCIAN REGIMEiif MUSEUM (WORCESTERSHIRE) TRUST
(REGISTERED CHARITY NO: 276510)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAFI ENDED 31 DECEMBER 2020

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHIRE) TRUST
CONTENTS
Page
Reference and admlnlslralive delalls of the charity. fts trustees and athi18er8
Trustees, report
Independent examin*s report
Statement ol flnancial activilies
10
Balance Sheel
11
Notes lo the tlnancial stalernents
12-19

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHIRE) TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2020
Trustees
Nigel Bradford. Trustee
John Davies, Trustee
Tim Fisher. Trustee
Mike Green, Treasurer and Se¢relary
Mark Jack50n, Chairman
Fiona Macklin. Trustee
Keilh Nonon. Trustee
Hugh Richards. Trustee
An(Jrew Wadland. Trustee
Charlty registered
number
276510
Principal offlce
Dancox House Army ReseNe Centre
Pheasant Streel
Worcester
Worcestershire
WR1 2EE
Accountants
DCBc•yn&Co
88 Cowleigh Road
Malvem
Worcestershire
WR14 1QW
Bankers
CAF Bank
Kings Hill
West Malling
Kent
ME19 4TA
Investment Managers
EFH Harris Alklay
Church Mews
Ombersley
Worcestershire
WR9 OEW

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHIRE) TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDEO 31 DECEMBER 2020
The Trustees present their annual report together wilh Ihe financial statements of Mercian Regiment Museum
(Woreestershire) Trust {Ihe charity) for the year ended 31 December 2020. The Trustees ¢(￿lIMi that the annual
report and linancial statements ol the charity comply wtth the Current slalutory requirements, the requirernenls of
the ¢harily's goveming documenl and the provisions ol the 2015 Statement of Recc*nmended Practice (SORP)
"Accounting and Reporting by Charities..
INTRODUCTION
The Museum is consthuted by Deed of Trusl dated May 1978 and the permanent exhibition is housed in
wor￿Ster City Art Gallery and Museum on a lease due for renewal in 2026. The office, archives and reserve
collection are in a MOD building a short distance fr(Mn the City Museum. The Ministry of Defence IMODI withdrew
Its annual Grant In Aid £20,000 in 2017. The Mercian Regiment Charity has replaced Ihis with an annual grant ol
£20.(X)O unlil 31 Mar 2022. while undertaking a strategic review ot ils heritage and four mL¢seums. The MOD
funding lor the four antecedent Regiments. museums will reduced to a single grant of £20,000 lor a Mercian
Flegimenl Museum by 2030. or earlier rf funding is further reduced.
PURPOSE
The Museum exists to collect and preserve the history. traditions and achievements of the Regiment, ils
anlecedenl components and those who have served or are serving in it from 1694 to the present day and lo
present them it? a way which entertains. educates and inspires as wide a range of Msitors as possible.
OBJECTIVES AND ACTIVITIES
POLICIES AND OBJECTIVES
The Trust's overall objectives are set out in the Trust Deed May 1978 and in the following poli￿S approved by
the Trustees-
Forward Plan {appToved 2020)
Financial w)licy {Approved 2019)
Investment policy {Rewewed 2019)
Care and Conservation Plan (Revised 20191
As a museum goveming body, the Trusys activtlies are also guided by the requirements of the Arts Council
England Accreditation Scheme. The Museum re-applied lor. and was granted. accredilalion in May 2018.).
Vlslon
The Trustees. vision for Ihe future is that the Museum should be recognised as an inclusive and progressive
institution Ihal (x)ntributes to the eultural offering of WcKcestershire. capitalises on the slrengths ol its collection
and miKJeTn technology to reach oul and provide an experience for visitors and users that excites. inspires and
educates and which generates sufficient inccmne lor the Museum to develop and flourish.
Key Aims
To ensure that the Museum remains financially sound and well managed by a strong body of Trustees
supported by a professionally qualFfied curator.
To manage and care for the cdlections to acknowledged professional standards.
To maintain stimulating and high quality permanent and temporary displays in w￿ceSterShlre that will
provide activities and events for the enjoyment and educatw)n of visitors, schools and others.
To create a marketing and promotion programffle and develop advocacy lor long term stability.
To ensure that the collection remans relevant lo Ihe Regiment and valued by the public so that long-term
suslainabilily of the Museum is secure.
To maintain a high standard of customer Serv￿ and guardianship in keeping with museum's core values
and accredited museum stsndards.
ObJectlve8
Secure the financial future of the Museum F)OSt-2021.
Develop a sustainable long-lerm staffintyvolunteer struclure.
Continue updating the catalogue and digilising the collections.
Develop and implement a phased conservalion programme.

THE MERCIAN REGIMENT IAISEUM IYIORCESTERSHRE) TRUST
TRUSTEES. REpoirr
FOR THE YEAR ENDED 31 DECEIABER 2020
Expand the offer to schoolslcoll8ges.
Implement the collectKsrts polKy that activety targets post-1945 conflth.
Promote wider public aKareness of and access to the collecbon.
Identfy other spaces in Worcestershire for the display of the colkntion.
Maintain and improve rating under the VAQAS Scherre in 2015.
10. Raise the Museum's rKofile and increase and diversify our visitor5 and users aTrJ Stake1￿￿￿er support
11. Bring di$￿ayS up to present day incorp)rating material on Iraq and Afghank8tan.
12. Fundraising.
13 Expand the appeal ofthe Fr￿ of the Museum to n(xease mnbwship and aL*vty.
ACTivmES FOR ACHIEVING OBJECTIVES
The trust OF￿at8$ a Museum for the publr benefiL penrowt d*s is Pthised in the Cty Museum
and Art Gallery arKF Is known as the VbbrcestershKe Sold*r GaI￿ry. This is OFen six days a week and attracted
approximatety 3.500 due to COVID 19 ￿$tr￿t￿)n$ visitors {14,556 in 20191, Comments in the visitors, bC￿)k
continue to be overwhelmingty complimentsry. The Museum wrsues an &luc4tional Fdicy and provides
educati¢Jnal projects and opportuni￿S for scholarn of all ages from PriThHry sc*Kd to unNersty St￿ents. We
achieve thi8 through partnership with a nurtw of local education* institutions induding the University of
PUBLIC BENEFrr
The Trustees have paKI due regard to the Charity Corn)tssth's guidan￿ on public benefft in decwjing what
tivities to undertake. The Museum provptses Publ￿ tenefft (L*nefft to the public at large) by:
Educatirtg the publ￿ the character. *ivrtEs and of the Britlsh Army, and In pathular
ils County RegiTrenL
Comffemorating and rememLvtng th(*e have lost ther Mv8S (x suffered injury ￿ put
themselves at risk of loss of life or injury. in seprfice of the publ￿.
Strengthening the link bet￿n the m￿lI￿Y and avilian communities. in part￿￿lar assisting witrt
reCrU￿ng the soldiers of the fLrture.
Assisting Service petsonnel rrm effecti4ety b) perforni their military duties.
Itachieves thr& by reccffding the deeds of thelrfcthars, thereby helping to irthlc* the ethos and esprtt de corps
which generates the fighting writ necessary for successful operations. As a resu￿. the Museum promotes the
effiGiency of the Arn￿ F¢)r￿ of the Crrp•m by enhancing the Bntish Amy's capabilty to undertake the roles
demanded of 1¢ induding the defence of the United Kingdom and its intwest&
ACHIEVEMENTS AND PERFORMANCE
REVIEW OF ACTivmES
t)ue to COVID 19 restr￿tr￿S it has tjeen a dwllerying year for the w￿seum.
Education.. The Trustees Work in collab(x*ion wrlh the Learning and Access offi￿r for the Cty Museum.
Infonnation was Cir￿lated to all schcx)Is in January 2017, seth'ng out a ￿￿09ram￿ of events and activitEs to
support the teachin9 ofHi*ory at Key Stage 1. 2. 3 and 4. The Museum's three resource t￿XeS on Vthcestershire
at War and the Fitst and Secortd Wortd Wars continue to be in derrond by schools. Due to COVID 19 restrictions
nil pupils and students in groups visiw the Museum in 2020. In aydition, edutstional resounx forteachers
to downlo&J have been placed MUse￿t'S Th*)5rte.
Dl8play8: Due to COWD 19 restr￿11￿ no displays wt on fft 2020
Researeh: There have been 29 r8sear(* erK4uffies re(wed this year and the gross In￿Me from these is
£720.

THE IAIERCIAN REGIMENT IIUSEUM IWORCESTERSHIIE) TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
Arxrodltation Update: The Museum TYaS awarded fvll &cTrjJitatK￿ on 10th May 2018.
Aquhltlons and otyocts catalogued and packed: Th￿e have been no significant purchases since the
last Trustees meeting In 2020, the Museum catslogued and photographed 15 objects from our backlog. Five
new obiecis have been cata￿gUed arKI ptwraphed. The overall collectic￿ stands at 13.688 items.
Projécts
WWI database enharW￿nt and augnHrtaliM. This 7hy)rk {x￿tinueS and there are currently 63886
WWf2 Database: To Ma￿ the anniversary, the Museum has rx)ntinued a bM)graphical database
of all those soldiers who served with the Worcestsrshire Regiment during World War Two, in whatever
theatre or cap•. This ￿ a long-temi proje¢( designed as a research tool and to act as a memorial to
their Servi￿.
W•hlte and Facebook:
The Museum has continued to wblish blogs on the website relating to
Regimental history, batM8s and batde hon￿rS arKI other events, parbcularly relating to its involvement in
the First Vklrtd Vtsr. Re￿ant eX￿rpts from the Battalions. War DI￿leS on the Facebook page ￿0mpanIed ty
Ir￿geS from the Regimental p￿tI￿3[aPh albJm&
Rovlow of ts Forward Plan: The TnK*es fIXn￿ty aFVOV&t a F4an to ￿ the peric¥J 2020 to 2025 tn
March 2020.
INVESThIEpif POLICY AND PERFORMANCE
In 2019 the Trustees approved the The Nknaan RegIn￿rt Museum IV¥tscesknhirel InvastnEnt ￿licY
Provide a steady source of income to enable the maintenance of the museum and its
seprfices. tts accessKJns and displays, and th￿r further devefopment.
Enable the acquisition of accessts)ns as dèenW appropriate by the Trustees
Provth reserves in the event of a d(wmtum in fijnds from other sources.
In future, any balance outstanding. and any fuiure surplus, will be transferred to the
Reseprfes for ￿¥8Stment
This ￿nformS to Clauses 7, 8 and 12 of the Charity's Trust deeds apwoved in April 2012.
There shall be an Investsypnt ComtY#ttts. *thich shall at a minirwm Iwice yearty. It shall
¢omprise'.
The Charnnan of the Board ofTnthes.
The Honorary Treasurer
A representative of the Investrwrt Manw Company (in an advisory capacty)
The obithes of the investsd resevves are to."
Maintain sufficient fvnds in easty S￿r¢e5 to cover up to 6 Ir￿nths, operating
Deliver a minimum In￿Me of £30,000 p.a.
Maximise the value of the portrolio in real tom￿ ty obtainiry a balanced rebjm betsveen
income and capital.
Accumukts an addllional reserve that can be used for fuTtrw capital devekynent, large
Sca￿ maintenance or refurbishment

THE MERCIAN REGIIAEKf kWSEUM (WORCESTERSHIRE) TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
The investrnents should l* at the Iw tevel of M(xler* RISK with a Corre￿tk)n to equities.
The Museum has no ethical (¥)nSiderats￿ th* ￿lkI restrict investM￿t optKm&
There shall be an annual agreemwtt signed betww the Manager arKI the Investment ComrThttee.
The Investment be beFKhmarted usirKJ the FfsE Pll Baknc*d. The lnvestrr￿nt
Manager sham provrde a monthty investrwtt upjats to the Treasurer.
The InvestnRnt Manager shall trarthr the Investr￿t income to the Museum's Gen￿￿ Awount
by the third Friday of Marth, June. September and Oecelrber each yew.
There should be an investrr*rt refvxxt included on the W of the Quartth Truste8s' meetings.
FINANCIAL REVIEW
GOING CONCERN
After woking appropriate enquir￿, the trustee5 have a reasonable eXp￿tst￿n that the ¢harity has adequate
resources to continue in operational existence for the foreseeab￿ fvture. For this reason, they continue to adopt
Ihe going concem basis in preFQriNJ the finar￿la1 slatenrt. Further detaib regarding the adoption of the going
concem basis can be found in tre A(%¢Kmting PolrAs.
RESERVES POLICY
The investments portfrJlio constitutes the reserves of th8 Chwity into an Erxl(ywn*nt Furnj with one of rb purposes
being to gener* incovrt to (a)ver the Curalorfs salwy. The Trust should maintain 6 rrK)nts of operating costs
as a minimum reserve.
YEARLY RE￿Ew
In the year ended 31 December 2020 we incurred a surplus (loss) of £20,020 (2019.. £106,016). This surplus
(loss) is up of an unrealised gain (k)ss) on ￿ Invests￿ of £4,854 (2019: £105.888}.
The reserves as at 31 December 2020 stsnd at £924.622 (2019: £904.515) and are all unrestrthd in nature.
This is within the reseNes of 6 ThK)ntrts operating costs. wh￿h &]uates to ￿r¢a £30,000. The charity hokls
an investrnent portfolh), as detsiled above, Wh￿ is used to generate income to help fvnd the running of the
chanty. As at31 December2020 £886.253 ofthe reseNes were held in trtfom ofinvestments {2019'. £881.399),
meaning that £38,369 is held as working captsl to meet the OFeiational needs of the charity (2019.. £23,116).
The board B comfortable with the level of reserves at the year end.
8TRUCTUR4 GOVERNANCE AND MANAGEMENT
CONSTITUTION
The Museum is constitirted by Oeed of Trustdated May 1978. The Trust Oeed as arrended by Resolution of 16th
April 2013 provides for four ex-officio *KI between f￿r arnl seven Th￿1¥mIu81 Trustaes. There are currentiy nine
Trustees.
METhOD OF APPOINThIENT OR ELECTION OF TRUSTEES
The Governing tkKument l-Gtr) ofthe Trust is the D*J eX￿ted on 10 May 1978 (Ihe Dee(I") as
amended by resolution of the Trustees at a meeting on 16 April 2012.
The Deed currenty KYo¥ides for 4 to 7 indplidual trustees and 2 to 4 ex-Offic￿ trust￿. However,
there must afrrys be a ffAiority of ivjividual trustees so h)ng as there are indNhJuals willing to sefve.

THE MERCIAN REGIMENT PAISEUM IWORCESTERSHIRE) TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
The number of indivMJual trustees can be vailed using the 'sktuW ¥Kpweff. The provisions as to
ex-officio trustees, is govemed by Clause 15 of the Deed.
The Colonel of The V4brcestershire arKI SheThnod Foresters Regitrent or Tts succeS￿)r. The
Deed d￿S not pe￿it arrendment of thks provision. The ColorEI ofthe Mercian Regiment has
stated that he would prefer to be able to nominate someone in his pthe.
Up to iwo serving or retired officers who rrrdy te nominated by Dep Col MERCIAN. Of the
ourrent trustees JackSC￿, Rrchards. Wadland and Fisherwould be avaikble to be so rK)minated,
with Jackson and Rthards ekcted as Chaimwn and VKe Chaiman respectively. Fisher has been
app)inted as an ex4kro Irustee.
There ￿ currenty 8 indivMYual truste8&' Brajford. Davw, Green. J￿ksOn, Macklin, Norton,
Richards, and WadlaMI.
The number of IndNidual Trustees (in additp)n to exthio Twstaes) shall be not less than Five n
more than E￿ht in nurthr.
ORGANISATIONAL STRUCTURE AND DECISION IAAKING
The Trust￿ are reskX)nsible for provwjing the str￿9￿ direclim for the museum. apFxoving its budget and
Forward Plan. Day to day management ol the museum and its affairs is del&Jated to the Curator, who is directly
re$rx)nsible to the Board of Trustees and is line n*nag&d by the Chaiman. The Curator is guKled in this V￿rk by
a Finance Policy {apEKov&J by the Trustees Juty 2019) and a Fp￿ Year FoiwaTd Plan (Approved by the Tnjstees
December 2019). Dr John Paddctk Was appointed in January 2013 to the Frf)St ot Curator and is full time.
Règrettabty the Board of Trustees were obliged in 2020 to redu￿ staff costs due lo a knss of income as a resu
of the COVID 19 pandemic so the part4im@ adminislralor, Mrs. Parrela Latuth, who had been apttsinted
in Juty 2014, to work 4 days a week was rrwde redundant The Museum SUPF()rted by 33 volunteers who are
invofved In research activitres including responding to enquiries from the public, catalo9uing the col*tion and
assisting the Cty Museum's front of house Staff.
PLANS FOR FUTURE PERIODS
FUTURE DEVELOPMEtirs
To grow the portblio sufficienty Ihat it will be atjle to generate suff*ient irK(Kne to cover botti the Curator and
the Asst curat0¢￿AdmInl$trative As￿'Stan￿$ salary in the v4ent of reduction, or rerrxwal, of Mercran Regiment
financial suppo¢ and failure to find alternative Sour￿ of income. The aim is to be financialty $ustainable when
the Mercian Regi[￿tt grant ends in April 2022.
TRUSTEES. RESPONSIBIUTIES STATEMEKr
The Trustees *e responSi￿e for prepanrvj TnJstees' we[￿ and the financial statements in accordance
applicable law and Unit*J KFngdom knnting Standards (Unit*l lQngdom Generally Accepted Accounting
Practice).
The law applicable to charilies in Engknd & Wtales requires the Trustees to prepafe financHI statements for each
financial year vthich give a true and fair view of the state of atrairs of the charity and of the inccming resources
and applicatN)n of resour￿ of the charity for that period. In preparing these financral statements, the Trustees
are required to:
select suitable policies and then apply thern con•.,
observe the meth(hls and pr￿￿lpleS in the Charilres SORP,"
make judgments and accounting eslimates that are reasonable and p￿￿ent
prepare the financial statements on the goin9 a)ncem basis unths it is inappropriate to presume
that the chatity will continue rn operakn.

THE MERCIAN REGIMENT AWSEUII ￿oRcESTERsHIRE> TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEIABER 2020
The Trustees are resp)nsibl8 for keepirvJ propw ac£ountiTrJ rets)rds that are suffic*nt to sh(Y4V and explain the
charity's transactions and di￿oSe with reasonab￿ accury at any the finanual p)sitson of th8 charity and
enable them to ensure that the financrdl ststements cornpty ¥￿th the Charities Act 2011, the Charity (Accounts
and Reports) Regulatons 2008 and the prowsions of the trust deed. They are a&0 ￿P)nSIble for safeguarding
the assets of the Chanty and hwKe ts taking r6asonable steps for the wevent￿n and ￿et￿lon of fraud and
other irregularities.
approved by the Trustees on 16 J<( J LJt)& l ald s19r￿1 on their b8half by:
This rep)rt
n, Cholnnan

THE MERCIAN REGIMENT IAUSEUM (WORCESTERSHIRE) TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MERCIAN REGIIAEKf MUSEUM
(WORCESTERSHIRE) TRUST
I report on the financial statements of the chanty for tre year ended 31 t*6rrl)er 2020 which are set out on
pages 10 to 20.
This report is made solely to the charit￿S Trustees. as a LM>ty. in ￿rdance with section 145 of the Charities
Act 2011 and regulations made urKler 154 of thatAct My work has been undertaken so that I mKJht state
to the charity's Tfustees those matters l am requwed to state to them in an Independent examinerfs report and
for no other purpose. To the fullest extent pennrtted by law. l th not a(* crf assume responsbilty to anyone
other than the charity and the tharity's Trustees as a bcmty. for my work or for this rewL
The financial State￿nts have been prepared in accordance with Accounting and Reporting by Charities
prepanng theiraccounts in accordan￿ ￿th the FinarKial Repxxfing Standards applicable in the UK and Republic
of Ireland IFRS 102) in preference to the Arxx)unting and Reporting by Charities: Statement of ReLx)mmended
Practice issued on 1 April 2LM)5 whith is referred to in the exiant regulations but has b88n wittKlrawn.
This has been done in order for the accounts to provth a true and fair VI￿ in ￿rdan￿ with the Generalty
Acwbj Accounting Practic* effe¢*ve for reporbng beginning on the after 1 January 2015.
RESPECTIVE RESPONSIBILMES OF TRUSTEES AND EXAMINER
The charity's Tnjstees are rewnsible for the preparation of the financial slater￿nts. and they Gonswjer that an
audf( is not required forthts year undwÉe¢gion 14412) ofthe CharitEsAct 2011 (the Act) and that an indeperKJent
examinatKJn is needed.
It is my responsibrtty to:
examine the financial ststetronts under SeCtK￿ 145 of the Nrt
fdk)w the pr￿edureS la*J du*n in the generat DIrec1￿nS given by the Chaiity Commission
under section 145(5)Ib) of the J4rt and
BASIS OF INDEPENDEKf EXAfAIINERE REPORT
My examinalw)n was carried ¢Jut ￿ a(xx)rdm with the general tWions given by the Charity Comrnission. An
examination includes a review of the accounting records kept by the charity and a comparison of the financial
statements presented with those Teo)rds. It algo indudes consideratK)n of any unusual ite￿0 or disclosures in
the financial statements. and seeking explanations from you as Trustees ¢1￿cernIng any such rrratters. The
procedures undertaken do not prowde all the e¥#lence that ￿K￿ld be rg]uired in an audtL and ￿nseqUentty no
opinion is given as lo whether the finawal Stat￿nts wesent a Irue and fair vi** and the rep)rt is limited to
those matters set out in the stater￿t below.

THE MERCIAN REGIMEKf IAISEUM IWORCESTERSHIRE) TRUST
INDEPENDEKf EXAIAINER% STATEMEKr
In connection with rny exaffllnatK￿, no matter has to attention:
(1) whth gives rre reasonable cause to b&l￿e that in any material resFttt the requirements."
to keep a(yxunting re¢xrds in acxordm with sectN)n 130 of ￿ Art and
to prepare financial statements whrh acc4Jrd with tho ¥xounts'ng records. A￿nting and Reporbng
by Charities preparing their accounts in accordance with the Financid Reporting Standard In the UK
arKI Republic of Ire￿nd {FRS 102) and in other respects CW with the accounting rffjuirements of
have not been rmt or
{2) to which, in my OFMnion, att8ntN)n &Trwkl be dmm in 4ydertoentha propor underslanding ofthe financial
ststements to be reached.
Signed:
Dated. I f rfu
O C Boom AFA AA1A
DCBoJm&Co
88 Cow￿l9h Road
Malvern
WorL%Stershire
VbR14 1QW

THE MERCIAN REGIMEKf MUSEUM ￿RcEsTERsHRE1 TRUST
STATEpaENT OF FINANCIAL ACTivmES
FOR THE YEAR ENDED 31 DECEIAi8ER 2019
Totsl
Funds
Total
Funds
funds
2020
2020
2019
INCOME FROM:
Donat￿n5 and Wxs
Other trading activities
Investsnents
other {Museum Fttends actrvibes)
TOTAL INCOME
36995
7395
26558
2690
73638
12020
28474
1624
71414
12020
28474
1624
71414
EXPENDrruRE ON=
Raising funds
Charitsble actl+irt
Other (Museum F￿Thjs aclivitsts)
TOTAL EXPENDITURE
6729
$0093
2867
69021
1575
73463
6,7&8
56207
NEf INCOME BEFORE IIIVESThIEPIT GAIPIWOSSES)
Net gainsllFosses) on inVestn￿ts
15207
15207
175
105888
14
NEf INCOME I (EXPENDITURE) BEFORE OTHER
RECOGNISED GAINS AND LOSSES
1CIS063
NEf w)VEIAEKf IN FUNDS
106063
RECONCILIATION OF FUNDS:
Total fijnds 1X￿ght fryward
Funds Adjustjrent
904520 904520 798405
41
41
47
TOTAL FUNDS CARRIED FORWARD
924622
924622
904515
All activities relate to continuing ¢)perati)ns.
The notes on pages 12 to 19 fcvm part of these finaKial slatements
10

THE MERCIAN REGIMEKf AWSEUM (WORCESTERSHIRE) TRUST
BALANCE SHEEr
AS AT 31 DECEIABER 2018
2019
FIXED ASSETS
Tangible assets
13
InveStr￿ts
14
886253
881399
886253
881399
CURRETr¥f A8SErs
Stocks {Noltonal)
15
Debtors
16
Cash at bank arKI in hand
23116
23116
CREDrroRS: aNw)unts falling due
wrthin cme year
18
NEf CURRENT ASSErs
23118
NET ASSETS
924622
904515
CHARrrY FUNDS
Unrestri(tsl funds
TOTAL FUNDS
18
924622
924622
904515
904515
The financial statements were
approved by the Trustees on
and
nedo
aw. by:
, Chairman
The notes on pages 12 to 19 form m of
these financial ststements
11

THE MERCIAN REGIIAENT MUSEUM IWORCESTERSHIRE) TRUST
1. ACCOUNTING POLICIES
1.18ASIS OF PREPARATION OF FINANCIAL STATEIEP
The financial statements have been prepared under the historical ry)st convention wilh iterrs recognised
at cost or transaction value unless otherwise stated in the re￿ant notes to these accounts. The financhql
statements have been prepared in ￿OrdanCe wtth the Ststement of Recommended practi￿.. Accounting
and Repofts"ng by char￿eS prepanng their accounts in accordance wrth the Financial Reporting Standard
applicable in the UK and Rewblic of Ireland {FRS 102) issued on 16 Juty 2014 and FinaneAal Reporting
standard appltsble in the United Kingdom and Republ￿ of Ireland {FRS 102) and Chariks Act 2011.
The Mercian RegirrEnt Museum IWWcest￿thIre) Tnjst C￿Stitits a publ￿ b￿efft entity as defined by
FRS 102.
1.2 FUND ACCOUNnNG
General funds are Unrestric￿ funds whith are wailable for use at the discret[￿ of the Trustees in
furtherance of Ihe general obithes of the chwrty and which have not been dosrgnated for other
purposes.
Designated funds comprise unrestrM*d fvnds that have teen set aside by the Trustees for particular
purposes. The aim and use of designated fund is set out in the notes to the finanryal statements.
1.3 INCOPAE
All income is recognised once the charity h&% ￿rtiUe￿ to the irwrrt, it is wobable th* the
income ￿11 be received and the aNwnt of receivabte can be npasured reliabty.
Donated services or facilttses are rwniswj w￿n the charity has (x)ntrol over the item, any
condits'ons asscciated wrth the donated item have t*en the ￿lpt of e(x)nomic benefit from
the use of the ¢haTity of the item is probable arKI th* economic benefft be measured ￿ljabty. In
accordance with the Charities SORP {FRS 102). the general volunteer time of the Fr￿dS is not
recognised and rnfer to the Trustees. report for more inftwnHti)n ab(Mrt their ￿￿T[butIOn.
On receipt. donated professional sefvices and don￿ f¥tlibes are rec¢¥nk8ed on the bask8 ofthe
value of the gift to Ihe tharity whth is the amount the charty wouhj have been willing to pay to
¢)btain Serv￿eS or thliknes of equNalent ec￿C￿¢1¢ benefft on the open marf. a cotresp)nding
amount is then rwnised in eX￿￿llUTe in the period of receipL
Income tax recoverable in rdation to dOnab￿ ￿e1ve￿J under Gift AKI or deeds of cthenant
is reccgnised at the time of thè donalion.
Other incoff* is reCC*3n￿ed in the Fer￿￿ in whth it is recelvable and to the extent the goods
have been provKled or on completA)n of the serrfti.
12

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHIRE) TRUST
NOTES TO THE FINANCIAL STATEhlENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
IA EXPENDrruRE
Expenditure is recognised once there is a lega or constructive oNigatN)n to transfer economic benefft to a
third paty. it is probable that a transfer ofeconomK beneffts will te required in settlement and the arrn)unt
of the obligatton can be nwasured reliabty. Expenditure r8 dassified by a¢tP4ty. The costs of activty
are made up of the total of direcl costs and shared ts)sts. induding SUPFrtyt costs involved in undertaking
each activity. Direct costs attributable to a single a¢tsvity are all￿￿ted directly to that activity. Shared costs
which o)ntribute to nTh)re than one activty aThJ support costs which are not attributabie to a singte activlty
are apportioned bets¥een thoge actNtbes on a basis congstent with the use of resources. Central staff
costs are alktated on the basis of tim8 spen( and d8w0uab￿ charges allorated on the portion of the
assefs use.
Fundraising costs are those wJrred in seeking vduntsry Contrilxrtio￿ aThS do not include the costs of
disseminating information in support of the ctsritabk activities. Support costs a￿ those costs incurred
direcdy in support of expenditure on the objects ofthe charity and indude project managem8nt ￿[rIed out
at Headquarters. Govemance costs are I￿rred in con￿*•n wilh administration ofthe chartty and
compliance wtth constitubonal and stattrtw requirernents.
Costs of generating fvnds are costs In￿rred in atr¥tmg Y￿Untary inwme. and those #icurrèd in trading
activities that raise funds.
Charitable activitles and Governan￿ costs a￿ costs In￿r￿d on the ￿•￿eMy twsys educational
operations. including support costs aTrJ costs relating to the governan￿ ofthe a￿deMY trust apF*)Ttioned
to charitable activÈli8s.
All ￿sourceS expended are #KIUSr￿ of irrecwrable VAT.
1A TANGKBLE FIXED ASSETS AND DEPRECIATION
Ail assets costing more than £1.IXMJ a￿ caprtalised Tangible fixad assets are Ca￿led at cos( net of
depr￿latIOn and any provision for impairnEnt. DepreciatK)n is prrwhyed at r*s calcajtated to wrrte off
the cost of fixed assets, less their estimated Tesidual value, over theii exF*Cted useful lives on the
following bases..
F￿ra8 and ffttin
33.33% straight line
1.6 INVESTMENTS
Fixed asset investrnents are a fomi of financaal in5trurrent and are initially reco3nised at thetr transaction
cost and subsequentty nEasured at fair value at the Bakqnce sheet date, unless fair value cannot be
measured reliabty in whth case it is at cost less itnpainrEnt Investrrent gains and losses,
whether realised or unrealised, are wmbined * shtr•ffl in the he&JiThJ 'Gainsl(k>sses) on Invest￿￿,
in the Stalement of financial activities.
1.7 INTEREST RECEIVABLE
Interest on fvrKls hetd on deFAXt ￿ Incl￿ wPtn r*xvable aThl the amount can b8
rTEa$ured reliabty by the d)arity" this 15 ncmlty Up(￿ notifration of the interest paid or
payab￿ by the Bank.
13

THE MERCIAN REGIMENT MUSEUM IWORCESTERSHIRE) TRUST
NOTES TO THE FINANCIAL STATEMEiirs
FOR THÉ YEAR ENDED 31 DEcE￿R 2020
1A STOCKS
Stocks are valued at the k)wer of cA)st and net realisatAe value after making due alluwance for obsolete
and slow-moving stocks. Cost includes all dir&* o)sts and an appropriate proportion of ￿ed and variab
overheads.
2. INCOME FROM DONATIONS AND LEGACIE8
Unrostrl¢ts
d funds
Totsl
Funds
Funds
2019
Donations and Glft
Aid
Appeals
MOD Grant in AKI
Grants
7117
25910
25910
29750
Total donations and Iw*s 29296
995
In 2019, of the total inc4)rne from donatK)ns and leg￿. £36995 vras to unrestrthl fU￿J$ and
£NIL was to restrycted funds.
3. ACTivmES FOR GENERAT114G FUNDS
Unrtstrict• Total Fund
d funds
Totsl
Fund
2020
2020
2019
Research
765
Events
Shops Sales &
PUbl￿tIon rights
Other income
11036
2092
1676
2862
12020
12020
7395
In 2019, of th8 total income frorn &bvitses for generatr'ng fvnds, £7395 was to unr8strthd funds and
£NIL was to restricted funds.
4. OTHER ACTivmES
2019
Museum Frlends deslgnated activites
2690
14

THE MERCIAN REGIMENT MUSEUM IWORCESTERSHIRE) TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
6. INVESTMENT
INCOME & BANK
INTEREST
Total Funds
Total
Funds
2019
2020
Bank Inte￿$t &
Dividends received
28474
28474
26558
In 2019. of thè total investrnent ￿￿4)me, £26558 was to unrestrKtsI fu￿ arKI £NIL was to restrthd fvnds.
6. DIRECT
COSTS
2019
Museum Dispk9y & Acquisit￿
SUbsCrfpt￿nS and sundries
Insurance
Research costs
Postage
Eveftts
Shop purchases
Office supplies
Dep￿lation
Wages and salaries
Tralning
At 31 D￿eMber 2020
6150
3580
495
14
3369
29
2867
930
56149
1106
71888
7. GOVERNANCE
COSTS
Total
Totsl funds
2019
Govemance Auditors, remuneration
8. OTHER C08TS
Totsl funds Total fund
2020
2019
Transfer to Inveslments
Friends DeswJnaÈd activittes
1575
15

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHRg TRUST
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 DECEMBER 2020
9. ANALYSIS OF RESOURCES EXPENDED BY EXPENDrruRE TYPE
Total
Totsl
2019
2020
2020
Expenditure on
raising voluntary
Inco
2867
COSTS OF
GENERATINO
FUNDS
Support Costs
Expendilure on govemanc•
TOTALS
5729
2867
69021
43923
6170
43923
11899
S5822
71888
10. NET INCOMING
RESOURCESI{RESOURCES
EXPENDED)
2020
2019
This is stated after charging:
Depreciation of tangible fixed asset&.
- owned by the
charity
Audttors, remuneration- audit
Durin9 the year, no Trustees receNed any rernuneralion (2019: £NIL).
During the year, no Trustees recerrfed any be￿ ￿ ka￿ {2019.' £NIL).
During the year, no Trustees received ary reimbursement of exp8nses (2019. £NIL).
11. AUDITORS. REIAUNERATK)N
The Independent ExarnineV$ ￿muneral￿ anK)unts to an 1ndePw￿t Exanination fee of £0 (2019." £NIL}.
12. STAFF
COSTS
Staff costs wefft as folfuws:
2020
2019
and
salaries
£43923 £56149
The average number of persons emthed by the d￿rity during the ywwas as follovts:
2019
No employee received remuneration amountirvj to more than £40,000 in either year.
16

THE MERCIAN REGIMENT MUSEUIA (WORCESTERSHIRE) TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
13. TANGIBLE FIXED ASSErs
Fixtures
& fftting5
2020
FExtures&
fittings
2019
COST
At 1 January 2020
Addttions
At 31 December 2020
DEPRECIATYJN
At 1 January 2020
Charge for the year
At 31 De¢ember 2020
NEf BOOK VALUE
At 31 D￿ernber 2020
14. FIXED ASSEf INVESTMEKrs
2019
MARKEf VALUE
At 1 January 2020
Valuation Adjustment
Revaluab'ons
At 31 December 2020
881399
775611
881399
HISTORICAL COST
INVESTMENTS AT MARKEf VALUE
COMPRISE:
2020
2019
Listed investments
Ati the fixed asset investrnents are held in the UK
1399
17

THE MERCIAN REGIMENT MUSEUM (WORCESTERP•HIRE) TrUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
15. STOCKS
2020
2019
Finished goods and goots re
16. DEBTORS
2019
Other debtors
17. CREDITORS: AMOUNTS FALUNG DUE wrrHIN ONE
YEAR
2019
Other ¢xedit(X5
18. STATEMENT OF
FUNDS
Carrfed
ILoswl FO￿rd
Fornard
In loui
DesiGNATED FUNDS
Designated Friends Fund
Fund adjt
Total designatsd Fund
GENERAL FUNDS
General Fund 1 Jan 2020
Gen Fund Adit
General Fund 31 Dec 2020
Total Unrestricted funds
4618
(385
5857
900260 69790
155822)
919082
41
918616
899793 69790
{55822
15620n
904615
71414
4854 924622
Brought In¢¢)mé
Forwa
Galn#l
(LosM•) Forwa
SUMMARY OF FUNDS
i￿1￿rt
Designated FrreTrJs Fund
Fund adjt
Totsl designated Fund
Gen Fund 1 Jan 2020
Gen Fund Adjt
Total General Fund 31 Dec 899793
2020
Total Fund BF
4618
1624
5857
58S7
919082
41
918616
900260 69790
155822)
(55822)
904515
71414
(5620n
924622
18

THE MERCIAN REGIMENT IAUSEUM IWORCESTERSHIRE) TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEPIBER 2020
19. ANALYSIS OF NEf ASSEf8 BETWEEN
FUNDS
Unrestrtct
•d fvnds
Totsl
Funds
Total
Funds
2019
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
886253
881399
23116
924622
924622
)4515
19