God save the Queen

An unabashed Anglophile, I sometimes follow the press about the Royal family. I notice that Queen Elizabeth always carries her pocket book (it's not a purse or a handbag, I assure you). She has it at state and official visits, galas and even at her grandson's wedding. What on earth could Her Majesty be carrying? Cash? Credit cards? Lipstick? Isn't that why she has a footman and a lady in waiting, so she doesn't have to haul her own crap around?