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|`Trustees`|`LieutenantGeneral`|`CR V WalkerDSO`|`CR V WalkerDSO`||
|---|---|---|---|---|
||`LieutenantGeneral`|`SirGeorgeNortonKCVO,CBE`|||
||`BrigadierD J H MaddanDL`||||
||`CaptainC A G Bennett`||||
||`TheRtHonTheEarlofDerby,DL`||||
||`ColonelR E H Aubrey— Fletcher`||||
|`GeneralSecretary`|||||
|`andTreasurer`|`MajorA J Green`||||
|`RegisteredCharity`|||||
|`Number`|`287265`||||
|`Address`|`WellingtonBarracks`||||
||`BirdcageWalk`||||
||`LondonSWIE6HQ`||||
|`Auditors`|`SafferyChampness`|`LLP`|`Solicitors`|`WrigleysSolicitorsLLP`|
||`71QueenVictoriaStreet`|||`19CookridgeStreet`|
||`LondonEC4V4BE`|||`LeedsLS23AG`|
|`Bankers`|`LloydsBankPlc`||`Investment`|`CazenoveCapital`|
||`Cox’s& King’s`||`managers`|`Management`|
||`PO Box1000`|||`12MoorgateLondon`|
||`Andover`|||`EC2R6DA`|
||`BX11LT`||||





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**----- Start of picture text -----**<br>
14 April 2022<br>**----- End of picture text -----**<br>




## 

|`Unrestrictedfunds`|`Note`|`2021`|`2020`|
|---|---|---|---|
|||`£`|`£`|
|`Incomefrom:`||||
|`Donationsandsubscriptions`||`91,812`|`81,460`|
|`Legacies`||`1,000`|`600`|
|`Investmentincome`||`22,923`|`28,777`|
|`Salesofgoods`||`18,199`|`22,326`|
|`Otherincome`||`-`|`-`|
|`Totalincome`||`133,934`|`133,163`|
|`Expenditureon:`||||
|`Raisingfunds`|`2`|`28,409`|`32,131`|
|`Charitableactivities`|`3`|`148,490`|`104,834`|
|`Totalexpenditure`||`(176,899)`|`(136,965)`|
|`Net(expenditure)/incomeforthe`||||
|`yearbeforeinvestmentgains/(losses)`||`(42,965)`|`(3,802)`|
|`Otherrecognisedgainsandlosses`||||
|`Netgains/(losses)oninvestments`||`207,769`|`141,287`|
|`Netmovementinfunds`||`164,804`|`137,485`|
|`Balancesbroughtforward`||`2,484,698`|`2,347,213`|
|`Balancescarriedforward`||`2,649,502`|`2,484,698`|





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|`2`|`Costofraisingfunds`|||
|---|---|---|---|
|||`2021`|`2020`|
|||`£`|`£`|
||`Costofgoodssold`|`12,563`|`18,501`|
||`Investmentmanagementfees`|<br>`15,846`|<br>`13,630`|
|||<br>`28,400`|<br>`32,131`|
|`3`|`Charitableactivities`|||
|||`2021`|`2020`|
|||`£`|`£`|
||`Welfaregrants`|`50,588`|`56,545`|
||`Associationevents`|`46,224`|`5,359`|
||`Supportcosts`|<br>`51,678`|<br>`42,930`|
|||`148,490`<br>|`104,834`<br>|
||`Auditor’sremuneration`|||
||`Theauditor’sremunerationconstitutedanauditfeeof`|`£6,775(2020:£6,300).`||
|`4`|`Tangiblefixedassets`|||
||||`Office& display`|
||||`equipment`|
||||`£`|
||`Cost`|||
||`At`<br>`1January2021`||`12,501`|
||`Additions`||`465`|
||`At31December2021`||`12,966`|
||`Depreciation`|||
||`At`<br>`1January2021`||`8,561`|
||`Chargefortheyear`||`474`|
||`At31December2021`||`9,035`|
||`Netbookvalue`|||
||`At31December2021`||`3,931`|
||`At31December2020`||`3,940`|





## 

||||||`2021`|`2020`|
|---|---|---|---|---|---|---|
||||||`£`|`£`|
|`Marketvalue`|||||||
|`At`<br>`1January2021`|||||`2,015,747`|`1,875,846`|
|`Additions`|||||`413,821`|`568,595`|
|`Disposals`|||||`(447,622)`|`(569,961)`|
|`Netinvestmentgains/(losses)`|||||`207,769`|`141,287`|
|`At31December2021`|||||<br>`2,189,715`|<br>`2,015,747`|
|`Cash`|||||`82,199`|`55,959`|
|`Totalinvestmentsasat31December`|`2021`||||<br> <br>`2,271,914`|<br> <br>`2,071,706`|
||||`2021`||||
||`Cost`|||`Market`|`Cost`|`Market`|
|||||`value`||`value`|
||`£`|||`£`|`£`|`£`|
|`FixedInterest`|||||||
|`UnitedKingdom`|`218,984`|||`232,470`|`227,412`|`246,282`|
|`Equities`|||||||
|`UnitedKingdom`|`216,796`|||`267,655`|`223,309`|`242,122`|
|`NorthAmerica`|`255,480`|||`434,115`|`272,611`|`400,838`|
|`ContinentalEurope`|`45,819`|||`69,552`|`47,728`|`61,125`|
|`FarEast`|`81,572`|||`99,853`|`99,641`|`132,567`|
|`EmergingMarkets`|`135,680`|||`185,166`|`153,076`|`209,874`|
|`Global`|`347,496`|||`433,801`|`241,036`|`293,458`|
|`PortfolioFunds`|||||||
|`PortfolioFunds`||`-`||`-`|`-`|`-`|
|`HedgeFunds`|||||||
|`OtherInternational`|`386,765`|||`459,804`|`394,288`|`422,182`|
|`Cash`|||||||
|`UnitedKingdom`|`82,199`|||`82,199`|`55,959`|`55,959`|
|`Otherinvestments`|`7,299`|||`7,299`|`7,299`|`7,299`|
|`Total`|<br>`1,778,090`<br>|<br> <br>|<br>|<br>`2,271,914`<br>|<br>`1,722,359`<br>|<br>`2,071,706`<br>|





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||`2021`|`2020`|
|---|---|---|
||`£`|`£`|
|`Accruals`|`21,636`|`17,331`|





## 

|||`2021`|||`2020`||
|---|---|---|---|---|---|---|
||`£`||`£`||||
|`Non-investmentincome`|||||||
|`SalesofAssociation goods`|`18,199`|||`22,326`|||
|`OtherIncome`|||||||
||||`18,199`|||`22,326`|
|`Incomefrominvestments`|||||||
|`Investmentincomegross`|`22,871`|||`28,669`|||
|`Depositinterest`|`52`|||`108`|||
||||`22,923`|||`28,777`|
|`Donationsandsubscriptions`|||||||
|`Welfaregrantsfromregimentalfunds`|`30,000`|||`50,004`|||
|`Covenantsandgiftaid`|`3,080`|||`3,271`|||
|`Refundoftaxondonations`|`770`|||`818`|||
|`Non-covenantedorgiftaiddonations`|`8,407`|||`11,785`|||
|`Subscriptions`|`430`|||`1,320`|||
|`Christmasdraw`|`17,889`|||`10,122`|||
|`Christmasgifts`|`210`|||`295`|||
|`Branchevents`|`31,026`|||`3,845`|||
|`Recurring`|`91,812`|||`81,460`|||
|`Legacies`|`1,000`|||`600`|||
|`Non-recurring`|`1,000`|||`600`|||
||||`92,812`|||`82,060`|
|`Totalincome`|||`133,934`|||`133,163`|
|`Recurringincome`|||`132,934`|||`132,563`|
|`Non-recurringincome`|||`1,000`|||`600`|
||||`133,934`|||`133,163`|





## 

|||`2021`|||`2020`||
|---|---|---|---|---|---|---|
|`Costofraisingfunds`|||||||
|`Costsofgoodssold`|||||||
|`Investmentmanagementfees`|||||||
||||`28,409`|||`32,131`|
|`Charitableactivities`|||||||
|`Grantsanddonations:`|||||||
|`Charitableallowancespaid`<br>`Christmasgifts`<br>`Welfaregrants`<br>`Welfareexpenses`|`5,115`<br>`5,817`<br>`32,085`<br>`3,590`|||`5,620`<br>`5,950`<br>`35,641`<br>`1,753`|||
||`46,607`|||`48,964`|||
|`Donations,wreathsandcrosses`|`3,981`|||`7,581`|||
||||`50,588`|||`56,545`|
|`Associationevents:`|||||||
|`GrenadierDayexpenses`|`318`||||||
|`RegimentalRemembranceDay`|`470`||||||
|`Branchdinnersofficialexpenses`|`349`||||||
|`Annualdinneranddance`|`26,286`||||||
|`Presentations`|`204`||||||
|`Other`|`18,597`||||||
||||`46,224`|||`5,359`|
|`Carriedforward`|||`125,221`|||`94,035`|





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|||`2021`||||
|---|---|---|---|---|---|
||||`£`|||
|`Broughtforward`|||`125,221`|||
|`Otherexpenditure`||||||
|`Supportcosts:`||||||
|`AGM,FinanceandCentralCommittee`|`5,976`|||`1,804`||
|`Generaladministrativecostsin`||||||
|`Branches`|`550`|||`608`||
|`Honoraria,pensionandtravelling`|`11,065`|||`13,029`||
|`Insurance`|`903`|||`824`||
|`Repairs,renewalsandmaintenance`|`543`|||`867`||
|`Postage`|`2,520`|||`2,187`||
|`Printing,stationeryandofficeexpenses`|`9,216`|||`9,770`||
|`Legalcosts`||||||
|`Auditandaccountancy`|`19,442`|||`12,464`||
|`Bankcharges`|`354`|||`370`||
|`Depreciationoffixedassets`|`1,109`|||`1,007`||
||||`51,678`||`42,930`|
|`Totalrecurringexpenditure`|||`176,899`||`136,965`|