THE MERCIAN REGIMENT MLISEUM IWORCESTERSHIREI TRUST
(REGISTERED CHARrrY NO- 276510)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2021

THE MERCIAN REGIMENT MUSEUM IWORCESTERSHIRE) TrUST
CONTENTS
Page
R•fer8nce and admlnl8tratfv• details of the ch•rity, Its trustees and odvlsern
Tru6tO0S' f•POrt
Independent oxamlneV8 report
Statement of flnancial activities
10
Balanc• 8hoOt
11
Not88 10 tho ftnan¢lal ststsm•nt•
12-19

THE MERCIAN REGIMENT MUSEUM IWORCESTERSHIREI TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, rrs TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2021
Trnstee8
Nigel Bradford, Trustee
John Davies. Truslee
Tim Fisher. Trustee
Mike Green, Treasurer and Secretsry
Mark Jackson. Chairman
Fiona Macklin. Trustee
Keith Norton, Trustee
Hugh Richards, Trustee
Andrew Wadland, Trustee
Charlty reglstored
number
276510
Prlnclpal offl
Dancox House Army Rw3er¥e Centre
Pheasant Street
Worcester
Worcestershire
R12EE
Accountsnts
DC8oom&Co
88 Cowleigh Road
Mafvern
Worcestershire
IM114 1QW
Banker•
CAF Bank
Kings Hill
West Malling
Kent
ME19 4TA
Invostm•nt Man•gorn
EFH Harris Alklay
Church Mews
Ombersley
Worcestershire
WR9 OEW

THE MERCIAN REGIMENT MUSEUM IWORCESTERSHIRE) TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their annual re￿rt together with the financial statements of Mercian Regiment Museum
Iworceslershirel Tnist (the charity) for Ihe year ended 31 December 2021. The Trustees confirm that the annual
report and financial statements of the chanty comply with the current ststulory requirements, the requirements of
the charity's governing document and the prOv￿10n$ of the 2015 Ststement of Recommended Practice ISORPI
"Accounting and Reporb"ng by Charittes".
INTRODUCTION
The Museum is ¢onstitLrted by Deed of Trust daled May 1978 and the permanent exhibibon 1$ housed in
Worcester Cty Art Gallery and Museum on a lease due for renewal in 2026. The office, archives and reseNe
collection are in a MOD building a short distance from the City Museum. The Ministry of Defence IMOD} withdrew
its annual Grant In Aid £20.000 in 2017. The Mercian Regimersl Chanty has replaced this with an annual grant of
£20,000 until 31 Mar 2022. while undertaking a strategic review of ts hertsge and four museums. The MOD
funding for the four antecedent Regiments, museums will reduced to a single grant of £20,000 for a Mercian
Regimonl Museum ty 2030, or earlier if fvnding is further reduced.
PURPOSE
The Museum exists lo collect and preserwe the hislory, tradib.ons and achievements of the Regiment, ils
anle¢edent components and those who have served or are seNing in it from 1694 to the present day and to
present them in a way whth entertains. educates and inspires as wide a range of visitors as possible.
OBJECTIVES AND ACTIVITIES
POLICIES AND OBJECTIVES
The Trust's overall objectives are Sel out in the Trust Deed May 1978 and in the following polic88 approved by
the Trustees..
Forward Plan {approved 20201
Financial policy (Approved 2019)
Investment policy (Reviewed 20191
Care and Conservation Plan {Revised 20191
AS a museum goveming body, the Trust's acbvities are also guid￿ by the requirem8nts of the Arts Council
England A¢¢reditation Scheme. The Museum re-applied for, and was granted. accreditation in May 2018.}.
Vl¥lon
The Trustees, vision for the fulufe is that the Museum should be recognised as an inclusive and progressive
institution that contn"bules to the cu￿Ural offering of Worcestershire. caprtalises on the strength8 of its collecbon
and modern technology to reach out and provide an experience for visitors and users that excites, inspires and
edu¢ates and which generates sufficient income for the Museum to devekjp and flourish.
Key Alms
To ensure that the Museum remains financialty sound and well managed by a strong body of Trustees
supported by a professionally qualified curator.
To manage and care for the colle¢tions to aCknOw￿ged professional standards.
To maintain slimulaling and high qualty permanent and temporary displays in Worcestershire that will
provide activities and events for the enjoyment and educal¢on of visitors, schools and others
To create a marketing and promotion programme and develop advocacy for long t8rn1 Stability.
To ensure that the collection remains relevant to the Regiment and valued by the public so that long-temi
sustainability of the Museum is secure.
To maintain a high standard of customer service and guardianship irs keeping with museum's core values
and accredited museum standards.
Obio¢tiVO9
Secure the financial hjture of thè Museum post-2021.
Develop a sustainable lOng-te￿ staffinglvolunteer structure.
Continue updating the catalogue and doitising the collecb"ons.
Develop and implement a phased conservation program1r￿.

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHIRE) TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Expand the offer to s¢hoolsleolleges.
Implement the collections policy that ￿t￿ety targets post-1945 Conflicts.
Promote wider public awareness of and a￿esS lo the collectjon.
Idenlfy other spaces in Wor¢este(shire for the display of the colle¢bon.
Maintain and improve rats.ng under the VAQAS Scheme in 2015.
Raise the Museum's profile and increase and diversify our visitots and usefs and stakeholder support.
Bring displays up to present day incofp)rating material on Iraq and Afghanistan.
12. Fundraising.
13
Expand the appeal of the Friends of the Museum to increase membership and activty.
10.
ACTIVITIES FOR ACHIEVING OBJECTIVES
The trust operates a Museum for the public benefit. whose permanent displays is housed in the City Museum
and Art Gallery and is known as thé Worcestershire Soldier GaI￿ry. This is open six days a week and attracted
approximately 7,853 due to COVID 19 restn'ctions visitors (3.500 in 20201. Comments in the visitors, book
continue to be ovemhelmingly complimentary. The Museum pursues an educatsonal policy and provides
educational projects and opportunilEs for scholars of all ages from Primary school lo university students. Wo
achieve this through partnership with a number of local educational institutions including the University of
Worcester.
PUBLIC BENEFIT
The Trustees have pa￿ due regard to the Chanty Comm￿s4on'S guKlance on public ben&fit in deciding what
actwities to undertake. The Museum provide$ public benefit (benefit to the public at largel by..
Educating th? public about the character. aCtivit￿S and history of the British Arry, and in particular
11$ County Regiment.
Commemorating and remèmbering those who have lost their lives or suffered injury or put
themselves at rlsk of loss of lrfe or injury, in servKe of the public.
Slrenglhening the link be￿n the military and cNilian communibos. in particular assistin9 Wlth
reciuiling the soldiers of the fulure.
As$i$ttng Service personnel more effecbv•ly to perfom) their military duties.
It achieves this by wording the deeds of Iheir forbears. the￿bY helping to in¢ul¢ate the ethos and esprit de corps
which generates the fighting spirtt necessary for sucossful operations. As a result, the Museum promotes the
efficiency of the Armed Force5 of Ihe Crown by enhancing the British Amy's capability to undertake the roles
demanded of it, including the defence of the Unrted Kingdom and rts Interests.
ACHIEVEMENTS AND PERFORMANCE
REVIEW OF ACTivrriES
Due to COWD 19 restrictions rt has been a challenging year for the museum.
Education: The Trustees work in ¢ollat*)ration wth the Leaming and A¢ces$ officer for the City Museum.
Informabon was circulated lo all Schools in January 2017, seth'ng out a programme of events and 8Ctivilies to
support the teaching of History at Key Stsge 1, 2. 3 and 4. The Museum's three resource boxes on Worcestershi
at War and the First and Second Wodd Wars conb.nue to be in demand by schools. Due to COVID 19 reslriclion$
nil pupils and students in group$ visited the Museum in 2021. In additKJn, new educat￿￿31 resources for teachers
to download have been plaeed on the Museum's website.
Displays: Due to COMD 19 restric￿onS no displays were put on in 2021
Research: There have been 34 research enquiries received this year and the gross income from these is
£865.

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHIRE) TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
A¢¢rodltatlon Update: The Museum was awarded fvll accredrtation on 1 Oth May 2018.
AGqulsitlons and objects catslogued and packed:
The￿ have been no 51gnifi¢ant purchases since the
last Trustees meeting. In 2021. the Museum catabgued and photographed 340 objects from our backlog. Five
new objects have been catalogued and photographed. The overall collection now stand$ at 13,727 items.
Projects
I database enhancemenl and augTr8ntab'on. Thi8 work continues and there are currenuy 65415
entries.
2 Database.. To mark the annNersary, the Museum has conty.nued a biographical database
of all those soldiers who seNed with the Worcesletshire Regiment during World War Two. in whatever
theatre or capaGity. This is a long-term project. designed as a research tool and to 8Ct ag a memorial to
their Service.
AMOT Muster and accessions sent to the Libor Pro￿ In September 2020. 57 boxes of Boer War
and ￿7 archival material were dispatched for digitisab"on. These We￿ returned in March 2021, this
resulled in over 40,000 images being PTcwJuced.
Wab8lte and Facobook:
The Mus8um has Continued to publish blogs on ￿ websrte relating to
Regimental history. battles and battle honours and other major events, parts'cularly relating to ils involvement in
the First Wodd War. Relevant excerpts from the Battalions, War DBries on the Facebook page ac¢ompani8d by
image5 from the Regimental photograph albums.
Revlew of th• Forward Plan.. The Trustees fomwlly approved a new plan to COV8r the penod 2020 to 2025 in
March 2020.
INVE8TMENT POLICY AND PERFORMANCE
In 2019 the Trustees approved The Mercian Regiment Museum {wor￿st&r8hlr8} Inv8stm8nt policy
The purposes of Museum capital and cash reserves are to..
Provide an Endowment Fund that Provides a steady source of income to enable the
employment of a Curator, mainlenanee of the museurn and rts servKes, its accessions and
displays, and their further development.
Enable the acquisf(ion of aecessions as deemed appropriate by the TNstees
Provide reserves in the event of a downturn in fvnds from other sources.
In future, any balance outstsnding, and any fvture surplus, will be transferred lo the
RèseNe$ for investment.
This policy conforms to Clauses 7, 8 and 12 of the Charity's Trust deeds approved in April 2012.
The￿ shall be an Investment Commrtlee, which shall Treet at a minimum ￿¥¢6 yearfy. 11 shall
comprise..
The Chairman of the Board of Trustees.
The Honorary Treasurer
A representstNe of the Investment Manager Company {in an adv*ory capacity)
The objecttves of the invested reserves are to:
Maintain sufficient funds ift easity accessible Sour￿ to cover up to 6 mnths. operating
costs.
Deliver a minimum income of £30.000 p.a.

THE MERCIAN REGIMEKf MUSEUIA IWORCESTERSHIREI TRUST
TRU8TEES' REpoFrr
FOR THE YEAR ENDED 31 DECEIJiBER 2021
Mw'mi8e Va￿ ofthe in Yeal terwo ty oblaining a balanced retum b8tsveen
income and ¢aprtal.
Accumulate an addrtmmd reseNe that can be Iwd fvrthor Capit￿ d8¥elopmen( large
scale maintenance or refurbishment
The investmènts should t• at the kmw level of Moder* wilh a kyw cA)rrelation to equibe8.
The MuÉeum has no ethul crjnsideralions that TAThihJ restrlct wwestm￿t optK)n8.
Thore shall ￿ an annual agreemnt 8hJned the Manw and tho Inve8trwt
Commth8.
The InveStn￿ Perf￿r￿ 8hall bo borK*mathl uslng th• FfsE Pll Balanced. The
Investment fvlanw 8h811 ￿￿O¥[de a nKJnthty Inve8tsr￿ upJ8te to Iho Tr•a8urnr.
Tho Inv88trnnt Manager Shall tran8for tho Inve8tsrnnt INx¥n• to the Mu80um'8 Gener81 Account
by the thlrd Frw ol March, June. Septeffthr and DKembw y•w.
There •hould be an inve81n￿ r•wt ind￿Jad on tho ofth• Quarterfy Trust888'
nxeWng8.
FINANCIAL REVIEW
GOING CONCERN
After making approprlate enqulr188, the trustées hv•e a reoKffiabkn exp￿kn that th8 ¢hanty has adequate
resources to contsnue in operational oxL8tsnce for the fore8eeable luture. Forthls reason. they continue to adopt
the golng o)ncem basis In preparfng the financtal staten*nts. FUrIt￿delai1s rfjgardlng adOpt￿n ofthe going
concem be81$ Can be found in the Acwuntlng Polkies.
RE8ERVE8 POLICY
The investments portfolio constitute8 the re8er4es of the Charity into an Endowment Fund ts￿th one of it8
PurP￿e$ being lo gfrnorats incom8 t(r•M￿S the salaries of the profes￿n81 Curator and the Colleclknn8
Manager. The Trust should maintain 6 month8 ofoperatlng ¢))8ts a8 a minimum re8errfe.
The Museum is IM￿t￿ntir￿j a Strategy to enable substsnlially greater Publ￿ a￿8$9 to tha collection
displayed in the gallery. and that to ensure easier ￿sSibIlity via dKJital means. The first part Is a joint project
recently underway wrth Worcester Cty Council to r￿ve the display gaI￿ry to Th Commandery. an exlstlng
histort building in the hentage quarter of the Crty The Museum Trustees have fomwlty set up a Designaled
Fund from Reserves of up to £150,rKKI to c¥)ver the (x)sts of r￿1, rffjtsllaiion, and 0￿p1aY cases.
YEARLY REVIEW
In thè year ended 31 Decaff￿ 2021 ￿ incurred a surplus (loss) of £51,318 {2020: £20,020). This surplus
(Ioss) is built up of an Unr￿l￿ed gain (loss) on Ihe Invostment p￿110 of £47.394 12020.. £4,854).
Tot81 fund8 available as at 31 Decembw 2021 stand at £975,946 (21r20'. £924.6221. of whth tho majortty is
designated for 8U8lainabillty of the charity and conservalM)n of the collediDn with soTh reStr￿t•d hjnds for the
Friends. Grants received for SFrfth¢ project8 and £100,0(￿) alkxated for the firture lfytsrcostershiro Soldier
gallery at the Commandery. The charfty hokl8 an Investmart portfolio. as détsiw above. which is used to
generate Income to help fund the running of the chanty and in particular staff ¢￿ts, Ythich was valued as at 31
Decemb8r 2021 £933,64712020'. £886.253). The bank ￿frerrt ac#))unt of £42,298 {2020: £38,369) is Suff￿10n1
to meet the day to day operational naeds of tr* The LK>ar(l is comfotsbfe with the knl of resems at
the year end.

THE MERCIAN REGIMEp¥f IAUSEUM IYrnCE8TER8HWIE) TRUST
TRU8TEE8' REPORT
FOR THE YEAR ENDED 31 DECEIABER %121
STRUCTURE, GOVERNANCE AND MANAGEMEpir
CON8TITUTION
The Museum is constrtutad ty Deed of Trust datèd May 1978. The Tntst Dead as amènded by Rwdolution of
16th April 2013 wwde8 for fr￿r ex￿￿? and betty￿en and seven IrKINhlual Trusta8s. There are curréntty
nine Trustee8.
IAEfHOD OF APPOIPUMEKf OR ELECTION OF TRUSTEES
The Goveming D<￿Thnt I'GD'I of the Trust Is Iha Deed exacuted (x) 10 May 19781.the Deed.)
a& amended by re8dutw ofthe Trustees at a n￿ts'n9 on 16 A￿.1 2012.
The Deod ¢urr•nty prwde8 for 4 to 7 ThlNidual trustees and 2 to 4 eX4)ffiC￿ tru8te8s. H(ywever,
thère must aTrways be a Mai￿ of indNiduo1 trustees so k)ng as there are iTrJN￿ua1$ willlng to Serva.
The number of indivKlual trustees can be varied using the '8tatutory poweff. The provisions as to
ex4offlLXO trustees. 18 govarr￿d by Clau$8 15 of tho Oe•J.
The Cobnd of The V4brce8t8r8hrn and Shanhx*)d Fore8ters Regim8nt or Its successor.
The Deed thx8 not pemilt anxndrront of this pr1y4i9￿n. The Colonel of the MeTryan Regimenl
has ststed that h6 woutd prefer to bg abre to r￿n￿nats 8(mY￿ne in hi6 plac•.
Up to Mr* serving or rets'￿ officers who may be nomina￿￿ by Dop Col MERCIAN. Of the
ujrmnt trust•e$ Jack80n, Rthards. Wadkqrrfl and Fk8her would bo availablo to bo so nominated,
w*th Jackson and RKhard8 818Ct8d 88 Chairman and ChamHn rospactivety. Fisher ha8
beon apwnted as an ex-Off￿￿) trus￿.
There are ojfrenty 7 individual tru8tee8'. Bfadford, Butler, Green. Jt£k8on, Macklln {Rulgned Sep
21), Nort￿, Richards, and Wadland.
The number of Indlvidual Tru8te88 (In addKk)n to ex￿clO Trusta￿) 8haN be not leu than Flve nor
rrwe than Elght In numbor.
OROAN18ATIONAL STRUCTURE AND DEC1810N PAAKING
The Trustees are responsible frx $Yov￿￿Tr9 the Strategic direct*)n for thè museum. approvlng It8 budget and
Forward Plan. Day to day rnanageff￿nt ofthe mu8eum arKI its affairn is de*at8d to th8 CuTator, who Is dlrecty
Sponsible to tho Board of Trustees and 1$ line Manag￿ by tho Chairman. The CuratOT is gulded In thi8 work
by a Finance Poltcy (approved by the Trustees Juty 2019) and a Five Year Fopward Plan {Approved by the
Trustaos De¢ember 2019). Dr John Paddock wa8 appobnted in January 2013 to the p05t of Curator and 18 full
time. Regrettably the Board of Trustees were Obl￿ed in 2020 to reduce Staff costs due to a kJsB of income a8 a
result ofthe COVID 19 pandemic and 80 the A83iStant Curator, Mrs. Parrela Langford, who had b￿n appointed
In Juty 2014, to work 4 days a week vras made redundant wi March 2021. The Museum is supportèd by 33
volunteers who are involved In research activrties induding resFrf)nding to 4wNuiries from the publ￿, catsloguing
the collection and wwting the Cty Museum's tront ol hou8e 8tsff.
PLANS FOR FUTURE PERIOD8
FUTURE DEVELOPMENTS
To grow the pcthllo suTri8nty that it wll be able to gwier* sUffic￿t income to ￿Wer the Cur8tol$ salary,
and in 2022 the Collecuon Manage18 sakqry. On￿ the Mercian Regiffent flnancfral support is removed, and
failure to find altemative Sources ol income. The aim is to be fina￿101￿ sustsinable when the Merckqn Regiment
grant 8nds in April 2022.

THE MERCIAN REGIMENT IAUSEiRA IWORCESTERSHIRE) TRIIST
TRUSTEES. REpoKr
FOR THE YEAR ENDED 310ecEMBER 2021
TRUSTEES. RE8PONSIBILmE8 8TATEPAEKr
The TnJste8s are re$pon&bl8 for preparing thè Trustees, reFxJt and the financial statements in a￿Ordance wrf(h
appllc8ble law and United Kingdom A￿oun￿9 Standards (Unrted lfjngdom Goneralty Aoxpted Attounb'ng
Pra¢tsc8).
The law applicable to charltkn in England & Wath requife8 the Tnjstees to wepar8 fin￿Cial statem?nts for
each financial y8ar whth give a true and f•'r of the stste of affalr8 of the charty and of th& inwming
resources and applution of resour￿ of tho tharty for Ihat FWKXI. In preparing these finan¢ial statements, the
Trustees are required to..
seknt Suitable aCC£￿n￿n9 polbci88 and then apply them con8iStenlly;
obseNe the methods and prinapl8s in the CharitEs SORP,.
make judgm8nts and accounting estimatss that are rea￿nable and pnJd•nt
preparo thè financial Statements on the golry ￿nCern ba8is unl88s It 18 inapproprth to pr6sum•
th8 chanty will contlnue wi cyratton.
Trustaes are wpon8ible for keeplng proper ac0￿ntsng fecrAds that are sufficient to show and explain the
charity's transathons and dl8do88 wllh rea80r￿ble a¢curacy at any bme th• fin8ncio1 positlon of the charlty and
enable them to en8ure that the financial statemnts comply wrth the Chantie8 P£t 2011. th8 Charlty (Accounts
and Report8) Regulat￿n3 2ryJ8 and the prowsK)ns of the trust deed They are 8180 responsible for safeguarding
the assets of tho charity and hon￿ ft>r ta￿'n9 reasonable steps for the preventlon and det&tr'on of fraud and
other lrr•gularit￿.
Th18 report wa8 aFprov•d by the Tru•tees on 6 £*J I g<) %Z and slgnod on ttlolr beh8ff by..
Mark
almwi

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHIRE) TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MERCIAN REGIMENT MUSEUM
IWORCESTERSHIRE) TRUST
I report on the financk41 statements of the chanty for the year ended 31 December 2020 which are set out on
pa9es 10 to 20.
This report is made solety to the chanty's Trustees. as a body, in accordance with section 145 of the Charities
Act 2011 and regulations made under $e¢ti)n 154 of that Act My work has been undertaken so that I might stste
to the charity's Trustees those matters l am required to State to them in an Independent examiners report and
for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility lo anyone
other than the chanty and the charity's Trustees as a b￿Jy. for my or for this report.
Thé ffnancial statements hava been prepared in aecordance wrth A¢¢ountsng and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic
of Ireland IFRS 102} in preference to the Accounb"ng and Reports"ng by Charities.. Statement of Recornmended
Practice issued on 1 April 2005 which 18 rele￿ed to in the extant regulat￿nS bul has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordan¢e with the Generally
Accepted Accounts'ng Practice effective for reporb.ng periods teginning on the after 1 January 2015.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The ¢harity's Trustees are r8swnsible for the preparab.on of the financial stateffents. and they consider that an
altdit is not required for this y8ar under secbon 144(21 of the chanI￿S Act 2011 (the Act) and that an Independent
examination is needed.
It is my responslbility lo..
examine the financial statements undef seCt￿n 145 of the Act.,
follow the procedures laid down in the general Directions given by the Charity Commission
under section 14SISI(bl of the Ac( and
stale whether particular matters have come to my attenlion.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An
examination includes a review of the accounting records kept by the charity and a companson of the financial
statements presented wrth those records. 11 also includes consideralbon of any unusual itsms or disclosure$ In
the financial statements. and seeking explanations from you as Twslees concerning any such matters. The
procedures undertaken do not provide all the evidence that would be required in an audrt. and consequently no
opinion is given as to whether the financial statements present a 'true and fair view. and the report 1$ limited to
those matters set out in the statement tfjlow.

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHIRE) TrUST
INDEPENDENT EXAMINER'S STATEMENT
In conna¢b'on with my examination, no matter has to my attention..
(11 which gives me ￿8$Onable cause lo believe that in any material respect the requirements..
to keep aGGounting records in accordance wrth section 130 of the Act; and
to prepare financial statements which accord wrth the accounb.ng records, ACCOUn￿ng and Repoiing
by Charitie5 preparing their accounts in accordance with the Financial Reporting Stan¢Jard in the UK
and Rèpublic of Ireland IFRS 1021 and in other respects comply with the accounts.ng requirements of
the Act
have not been met,. or
(2) to which, in my opinion, attentk?n should be drawn in orderto enable a proper understanding ofthe financk41
ststements lo be reached.
S￿ned..
Dated:
D C Btsgm AFA AA1A
oc8￿m&co
88 Cowleigh Road
Malvern
Worcestershire
WR14 1QW

THE MERCIAN REGIIAEKf MUSEUII (4%X)RCESTERSHIRg TRUST
8TATEMEpif OF FINANCIAL ACTivmES
FOR THE YEAR ENDED 31 DECEMBER 2021
Totsl
Tot•1
Fur
23747
29298
Oth•rtradlna acth￿•
In¥é•trMntg & Bank trrt
1137
12020
28474
thi*n•t•d Ftsr¥l• t
Colkxah)n FuThJ IRJ
Mumum Grnnts RK•rfftJ ER]
1411
Muwum Su*knabW IDJ
Mumum CoTrwNath)n Fund PJ
TOTAL INCQME
71414
EXPENDITUAe ON:
Rohi￿ lund•
Ch•rfi&¥k• xtml￿b
5729
D•*n*t•d Frf•1￿ Fyrnl IR)
624
M¢Muffj CoHxlkn Furl tR]
Mu••um Gr•nts IR]
Wort•thr•hh S¢)Idl¥ FuThlRI
IAu••Jm s￿In*l￿ Flmd IDJ
TOTAL EXPENDrruRe
88207
IS207
14
qaln•llioMMI on sn¥￿￿91￿
47394
48S4
NET INCOAIE I IEXPENDrnJRQ BEF(
OTHER RECOGNISED GAINS AND LOSSES
S1306
Tothl fur￿1$ browMfrJnv8
FundsAdlu•trMrt
41
TOTAL FUNDS G411RIED FoifiiAAD
975451
490
924622
TM notss on pog88 12 10 20fcrfm ￿ oltlM•
fmanoBI st8tenwnts.
10

THE MERCIAN REGIMEp¥f IAUSEUM IWORCESTERSHIREI TRUST
BALANCE SMEET
AS AT 31 DE¢EIABER >)21
Tatsl
Tth*l
FurKI$
2020
FIXED A88ET3
T*ngW¢ 081•1s
13
14
•&W7 888203
15
16
CAF Cmh •t bank
32312
1767
6707
CREDITOA8.' du•YAhkn oThi
17
NET A88ETS
CHARifi FUNDS
93M4T 886253
18
TOTAL FUND8
•78H8 924622
The fina
were approvfftl by th8 Tru8teo8 on 6 &Jyand $1gned on thelr behaLI, by:
Mark J
Immn
The note
statements.
ptyas 12 to 20 fom) part of the* financial
11

THE MERCIAN REGIMENT MUSEUM IWORCESTERSHIRE) TRUST
1. ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial staternents have been prepared under the historical cost convention with iterrts recognised
at cost or transaction value unless otheNise stated in the relevant notes to these aecounts. The financial
statements have been prepared in accordance with the Ststement of Recommended Practice.. Accounting
and Reporbng by Charities preparing their accounts In accordance wth the Financial Reporting Standard
applicable in the UK and Republ￿ of Ireland IFRS 1021 issued on 16 July 2014 and Financial Reporting
Stsndard applicable in the United Kingdom and Republ￿ of Ireland IFRS 1021 and Charities Act 2011.
The Mercian Regiment Museum IINorcestershire) Twst conststLrtes a public beneffit entity as defined by
FRS 102.
1.2 FUND ACCOUNTING
General funds are unrestr￿ted fvnds which a￿ available for use at the discretson of th8 Trustees in
fvrtheran¢e of the general obFcbve$ of the charity and which have nol been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set asKde by the Trustee$ for particular
purposes. The aim and use of each designated fund Is set out in the notes lo the financial statements.
1.3 INCOME
All income is recognised once the charity has entitlement to the Income, it is probable that tha
income will be received and the a￿￿￿nt of incoff* receivable can be rneasu￿d reliably.
Oonaled services or facilities are recogni$ed when the charty has control over the item, any
conditions associated wrth the donated item have be8n mel, the receipt of economic benefit from
the use of the charity of the item is probable and that econom￿ benefft Can be measured reliably. In
accordance with the Charities SORP IFRS 1021. the general volunteer time of the Friends is not
Cognised and refer lo thé Trustees, report for more InformatKJn about their contnbution.
On receipt, donated PTof85sional sen4ices and donated fa¢Ilrt￿S are reco9nised on the basis of the
value of the gift to the charity which is the amount the charity woukl have been willing to pay lo
obtain servth$ or facilities of eqUiva￿nI economic benefit on the open market.. a Corresp￿￿dIng
amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation lo donaljons weNed under Gift Aid or deeds of covenant
is recognised * the tsme of the donats'on.
Other income is recognised in the Fer￿ in wh￿h it is receivab￿ and lo the extent the goc•Js
have been provided or on completion of the seplice.
12

THE MERCIAN REGIMENT MUSEUM IWORCESTERSHIRE) TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1A EXPENDITURE
Expenditure is re¢ognised once there is a legal or ¢onstructs've obligats.on to transfer economic benefit to a
third party. it 1$ probable that a transfer of economK benefits will be required in settlement and the anv)unt
of the obligation can be measured reliably. Expenditure is classified by activity. The Costs of each activity
are made up of the total of direct costs and shared costs, including SUPPOrt costs involved in undertaking
each activrty. Direct costs attributable to a single activity are allocated al￿ty to that actrvity. Shared costs
which contribute lo more than one acb.vty and support costs which a￿ not attributable to a single activity
a￿ apportioned behveen those activrties on a basis consistent with the use of fesources. Central stsff
costs are allocated on the basis of ts.me spent, and depreciation charges allc¢ated on the portion of the
asset's use.
Fundraising costs are those incurred in seth'ng voluntary contributions and do not include the costs of
disseminating infomalion In support of the charitsble a¢b"vrtw. Support costs are those ¢osts incurred
direclty in support of expendrture on the objects of the chanty and include project management ¢arried out
at Headquarters G¢)vemance costs are those incurred in connection with administration of the charity and
compliance with consts"tutional and ststutory requirements.
Costs of generating funds are costs incurred in attracting volunlary income, and those incurred in trading
acts'vltlès that raise funds.
Charitable aclivilies and Governance costs are costs incurred on the academy trust's educational
operations, including support costs and costs relabng to the govemance of the academy trust apporb'oned
lo charitable activities.
All resources expended are inclusive of irrecoverabb VAT.
1.0 TANGIBLE FIXED ASSETS AND DEPRECIATION
All assets costing mofe than £1,000 afe capitalised. Tangibl8 fixed assets are carried al cost, nel of
depreciation and any provision for impairmenL Deprwakn"on is provided at rates cal¢ulated to write off
the cost of fixed assets, ths their estimated residual value. over their expected us&fvl lives on the
following bases..
Fixtu￿$ and fittings
33 33% straight line
1.6 INVESTMENTS
Fixed asset investments are a form of financial instnJff￿nt and are initi.alty recognised at their tran$a¢tson
co$1 and subsequently measured al fair value at the Balance sheet date, unless fair value cannot be
measured rel￿blY in which case it is measured al cost less impaimient. Investment gains and losses,
whether realised or unrealised. are Combined and shown in the heading 'Gainsl{lossesl on investments,
in the Statement of financial activiti'es.
1.7 INTEREST RECEIVABLE
Inte￿$t on lunds held on deposit is included when receNable and the amount Can be
measured reliably by the charity., this is nom)alty upon notsficab.on of the interesl paid or
payable by the Bank.
13

THE MERCIAN REGIIAEtir IAUSEUM IWORCESTER8HIIW TRusr
NOTES TO THE FINANCIAL STATEMEpirs
FOR THE YEAR ENDED 31 DECEMBER 2021
IA 8TOCK8
Stocks are valued * the luwer of o)st and net realisabk vafue after makn'ThJ due allowance for obsolete
and stthv.movw)g stocks. Cost uKiudes all direct costs and an appropriate prowtion offixed and vanable
ovetheads.
Z INCOME FROM DONATIONS AND LEGACE8
FurKIs
2021
2021
2¢Y20
Donations and Gift
Aid
Appeals
MOD Grant In Ald
Museum Collactlon
Grants
Total donaknj and
3747
3747
25910
23747
24247
29296
In 2020, 01 the total incom from donatlons I•9￿, £29296 to unrellrthd fvnd# and
£NIL was to r•8trICt￿ lund8.
3. ACTivrnES FOR GENERATING FUND8
Unr••trlct•d
T¢thl
Fund
Fund
20
2021
2020
Re8garGh
720
Events
Shops Sal86 &
Publication right8
other Incof
21
21
11038
261
281
1137
12020
In 2020. of the total income from for genernlirtrj funds. £12020 was to unrestrKted lunds and
£NIL w88 to re8tn'(*ed lund8.
4. OTHER ACTNMES
2021
2020
Museum Friends designated activibes
1409
1624
14

THE MERCIAN REGIMEpif MUSEUM IWORCESTERSHIRE) TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
5. INVESTkEKr
INCOME & BANK
IiirEREST
fund•
2021
Furth
2020
Bank Interest &
Dmdends r￿1¥￿1
28717
28474
In 2020, of the totsl investrwit £28474 wa8 to ￿re11rK￿eO fvNls and £NIL wa8 to reStr￿ed fund8.
6. DIRECT
COST8
Total
2020
Mu88um Di8pkqy & Alxuisitions
Sub8¢rfpllon$ and $undr188
Insurance
R•search co•ts
Postsge
Events
Shop pur¢ha8e8
Offte 8uppI
Deprea'ation
Wages and 8Alarte8
Training
At 31 Dec•mt•r 2021
1453
3359
111
302
5729
43W23
60726
55822
7. OOVERNANCE
COSTS
Tolal
fund•
Total funds
20
8. OTHER COSTS
TfAal fvnd•
Total fund
2020
Trark8fer to Inve8tments
Friends DeS￿nated actmtses
15

THE MERCIAN REGIMENT MUSEUM IWORCESTERSHIREI TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE
Staff
costs
Total
festated
Total
2021
2021
2021
2020
Expenditure on
ra15ing voluntary
income
COSTS OF
GENERATING
FUNDS
Support costs
Expenditure on governance
TOTALS
2867
69021
45921
5204
51125
45921
5204
51125
71888
10. NET INCOMING
RESOURCESI{RESOURCES
EXPENDED)
2021
2020
Thi8 Is slated after charging..
Depreciation of tangible fixed as8ets'.
- owned by the
charity
Auditors, remunèration - audit
Ouring the year, no Trustees received any Temun•ralh)n12020.' £NIL).
Durin9 the year, no Trustees received any benefits in kind {2020' £NILI.
During the year, no Trustees received any ￿1Mbur5ernent of expense$12020'. £NIL).
11. AUOITORS. REMUNERATION
The Independent Examinerfs remunerabon amounts to an Independent Examinats'on fee of £0 (2020.. £NILI.
12. STAFF
COSTS
Staff co8t8 were as follows..
2021
2020
Wages amd Salaries
£45921
£56149
The average number of persons employed by the charity during Ihe year was as folkjws..
2021
2020
No.
No employee received rernUnerat￿n amounts'ng to rn￿e than £40,000 in ether year.
16

THE MERCIAN REGIMENT MUSEUM ￿oRcESTERSHlRE) TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
13. TANGIBLE FIXED ASSETS
Flxturns
& fittlngs
2021
Fixtures&
fftb'ng$
2020
COST
At 1 January 2021
Additions
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charg8 for the year
Al 31 December 2021
NET 800K VALUE
At 31 December 2021
14. FIXED ASSET INVESTMENT8
Llsted
¢urftle
Ll8tod
socuritio8
2021
2020
MARKET VALUE
At 1 January 2021
Valuation Adjustment
Revaluations
At 31 December 2021
886253
881399
47394
933647
886253
HISTORICAL COST
689681
INVESTMENTS AT ￿RKET VALUE
COMPRISE:
2021
2020
Listed investments
933647
25
All the fixed asset investments a￿ hehj In the UK
17

THE MERCIAN REGIMENT IIUSEUM IWORCESTERSHIREI TrUST
NOTES TO THE FINANCIAL STATEMEpirs
FOR THE YEAR ENDED 31 DECEMBER 20
15. STOCK8
2021
2020
Finthed wds and good3 for resale
16. DEBTORS
2020
Other dobtors
17. CREDrroR8: AMOUNTS FALLNG DUE ￿TTHIN ONE
YEAR
2020
other credlto
18. 8TATEMEpif OF
FUNDS
2021
Brouq
FoMrd
DE8W3NATED FUN
DMb)n•t•d Fd•nd8 Fund
MuMum ColB¢lbn Fwl
140•
16742
Grant• R•c•W
Worc•*•rSoh1* Fut¥J
Tot•1 d••i9nat•O Fw
1141•)
116347
QENEIIAL FUPID8
Q•n•rnl Furvj 1 Jan 2021
G•n Fund A
19
Museum Su•l•lnI￿lfy Fund
Museum CorTr••ry•kn Fu￿j
G•ngr41 F￿d 31 Do¢ 2021
Total fiJnd6
I76￿8
18

THE MERCIAN REGIMENT MUSEUM (WORCESTERSHIRE) TRUST
NOTES TO THE FINANCIAL STATEMEirrs
FOR THE YEAR ENDED 31 DECEMBER 2021
sUMIt￿ OF FUNDS
ILo•M•)
D*nthd FrfeTrJs FuThJ
10742
Mu••LthI ColKx*on fund
MuMum Cmnts Reth¢d
Worcwt•rnhtr• SolJ* Fwd
MuMum s￿l￿n•bIl￿ FuThJ
•Ay$•um Con¥grv4don Fth
1141
Tot•1 (kn•lJtwtsd FWKI
G•n Fvnd 1 Jan W21
G•n Fund h4t
Total Q•ntAI Fund 31 D* 2021
{*2JO) ISOU667)
911616
Tot•1 Fund 8F
19. ANALY818 OF NET A88Efs 8EfwEEN
FUNDS
UM••trO￿ Il••trld•d fotsl• I￿7￿* Totsl fvnd•
20
2021
2020
Tangible fixed as88ts
Fixed asset Investn*nt
Current assets
Creditor8 due within ono year
773647
8757
19