REGISTERED CHARITY NUMBER: 1087525
Report of the Trustees and
Financial Statements for the Year Ended 31st March 2022
for
West Mercia Police Welfare Fund
The Richards Sandy Partnership Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU
West Mercia Police Welfare Fund
Contents of the Financial Statements for the Year Ended 31st March 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 16 |
| Detailed Statement of Financial Activities | 17 |
West Mercia Police Welfare Fund
Report of the Trustees for the Year Ended 31st March 2022
The trustees present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Charity's objects
The charity's objects are to relieve in cases of need, contributing members, past and present, of the West Mercia Constabulary and their families and dependents who are sick, convalescent, disabled, handicapped or infirm or may be in necessitous or impoverished condition, or who are suffering from temporary financial hardship, by providing, or paying for, items, services or facilities which are calculated to alleviate the suffering or assist the recovery of such persons in such cases, but are not readily available from other sources, or by providing monetary grants or loans. Such grants or loans will be at the discretion of the Executive Committee upon such terms as seem fit.
Ensuring our work delivers our aims
Each year our aims, objectives and activities are reviewed, based on the outcome of our work in the previous 12 months, to ensure they still reflect and further our aims and legal purposes. In our planning, setting objectives and determining our activities the trustees have paid due regard to the 'General Guidance on Public Benefit' published by the Charity Commission. In so doing, the Trustees consider the activities planned and how they further the aims and objectives they have set. The success of activities is reviewed each year in the context of benefits they bring to those groups of people we are set up to help.
Social benefit
By carrying out our aims and objectives the trustees have demonstrated their due regard to the guidance published by the Charity Commission on public benefit by promoting the efficiency of the police service together with assisting former members and their dependents who otherwise would be reliant on public funds for any assistance.
Grant and loan making policy
Emergency grants and loans are made by the Executive Committee following the procedures as set out in the Constitution. Applications are received by the Fund and then given consideration by a minimum of three members of the Executive Committee , one of whom must be an honorary officer.
The grants and loans made by the three members are then reported to the full Executive Committee at the next meeting of the said Committee.
The Executive Committee meets quarterly and receives grant and loan applications and approves Emergency Grants already provided.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity receives income, principally from the members as subscriptions. The subscription received contains two elements which constitute restricted funds, namely subscriptions to Flint House Police Rehabilitation (formerly called The Police Rehabilitation Centre) and The Police Children's Charity (formerly called St George's Police Children Trust). The element of the subscription relating to these two items is passed straight on to the relevant bodies.
During the year the charity issued grants to deserving members totalling £15,565 (2021 - £10,848) and had at the year end interest free loans to deserving members in issue of £22,635 (2021 - £34,223).
The charity also owns a static caravan which is rented out as a holiday home to members for no or nominal proceeds. Unfortunately due to Covid-19 restrictions this was unavailable for use for most of the year.
Fundraising activities
The members only lottery operated by the charity ceased trading in the current year.
Investment performance
The listed investments held for the purposes of generating income are managed by Quilter Cheviot.
The charity, due to its size and nature, has no formal process to enable it to measure the success of its actions excepting that it continues to support the force members.
Significant events in the year
During the year the charity amended its governing document in regard to how trustees are appointed from various branches and affiliate organisations of the West Mercia Police. All but one of the trustees stepped down and new trustees were appointed.
The charity also ceased using West Mercia Police Federation to provide administrative services on behalf of the charity.
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West Mercia Police Welfare Fund
Report of the Trustees for the Year Ended 31st March 2022
FINANCIAL REVIEW
Financial results for the year
During the year the charity had incoming resources of £184,964 (2021 - £179,489) and outgoing resources of £198,120 (2021 - £175,663), with net gains on investments of £13,371 (2021 - net gains of £92,355). The net incoming resources for the year was £215 (2021 - net incoming resources of £96,181).
The results for the year are as set out in the Statement of Financial Activities on page 6.
Investment policy and objectives
There are some restrictions on the charity's power to invest. These restrictions are, however, consistent with a prudent approach to investment strategy. The strategy is such that the funds will be invested in low and medium risk investments with a view to ensuring that capital appreciation is achieved which exceeds inflation . The fund investment strategy is reviewed with independent advisers and a revised strategy adopted based upon their recommendations, such reviews are performed on an annual basis such that a report may be made to the AGM.
Reserves policy
It is the policy of the Charity to maintain such liquid reserves (unrestricted) as will enable it to meet all its expenditure requirements for a period of at least six months. The charity has to fund administration expenditure, and reserves are held to cover payments made while pursuing the charity's objectives as well as administration charges levied by West Mercia Police Federation.
At the year end the charity held unrestricted reserves of £758,618 (2021 - £758,403), of which £49,249 (2021 - £53,902) were held as functional assets of the charity and £507,865 (2021 - £496,750) were held as listed investments for the purpose of generating investment income, leaving free reserves of £201,504 (2021 - £207,751), representing approximately 12 months (2021 - 14 months) of annual expenditure.
As the charity currently has reserves in excess of their reserves policy, the Executive Committee has made the decision not to increase member fees for the next financial year. This is budgeted to result in a net cash deficit for the next financial year to be funded out of general reserves.
The Executive Committee also plans to increase the amounts held as listed investments for the purpose of generating investment income.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The West Mercia Police Welfare Fund is constituted under a trust deed dated 25 April 2001 (as amended on 2 October 2013 and on 21 October 2021) and is an unincorporated charity registered with Charity Commission For England And Wales (charity number 1087525).
Recruitment and appointment of new trustees
Following a change to the trust deed in the year, the Executive Committee consists of not less than 7 nor more than 12 nominated members. The members of the Executive Committee are elected annually at the Annual General Meeting as follows:
-
the Chief Constables for the force (who shall be the president of the charity);
-
one member of the Chief Officer Group for the force;
-
one member of the Superintendent's Association for the force;
-
four members of the Police Federation Joint Branch Board of the force (at least one of whom shall be female);
-
one member of the Force Welfare Department;
-
one member from the Force Chaplaincy; and
-
two members from the National Association of Retired Police Officers.
In addition one member of the Force Occupational Health Department shall be co-opted members without voting rights.
Other persons may be co-opted onto the Executive Committee without voting rights.
The Chairman, Vice Chairman, Secretary and Treasurer are elected by the members from those elected to the Executive Committee.
Organisational structure
The day to day administration of the charity is performed by the Officers, namely, Chairman, Vice Chairman and Secretary/Treasurer.
The Holding Trustees are, in accordance with the trust deed, the Chairman, Secretary and Treasurer. The Holding Trustees act as custodians of all investments held by the Charity.
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West Mercia Police Welfare Fund
Report of the Trustees for the Year Ended 31st March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees
New trustees attend a course on trustee responsibilities as soon as is practicable after becoming appointed.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1087525
Principal address
West Mercia Police Headquarters Hindlip Hall Hindlip Worcestershire WR3 8SP
Trustees
| Trustees | |
|---|---|
| Steven Butler | (resigned 21st October 2021) |
| Margaret Case | (appointed 21st October 2021) |
| Sarah Cooper | |
| Stephanie Dyer | (appointed 21st October 2021) |
| Craig Harris | (appointed 31st January 2022) |
| Richard Johnson | (appointed 21st October 2021) |
| Morwenna Lansdale | (appointed 21st October 2021) |
| Ann-Marie Laws | (resigned 21st October 2021) |
| Phillippa Mills | (appointed 21st October 2021) |
| Julian Moss | (appointed 21st October 2021) |
| Peter Picken | (appointed 21st October 2021) |
| Amanda Teague Lesley Williams Honorary officers Chairman |
(appointed 31st January 2022) (resigned 21st October 2021) Sarah Cooper (to 21st October 2021) |
| Morwenna Lansdale (from 21st October 2021) |
|
| Vice Chairman | Lesley Williams (to 21st October 2021) |
| Sarah Cooper (from 21st October 2021) |
|
| Secretary | Steve Butler (to 21st October 2021) |
| Julian Moss (from 21st October 2021) |
|
| Assistant Secretary | Christopher Thomas* (to 21st October 2021) |
| Richard Johnson (from 21st October 2021) |
|
| Treasurer | Lesley Williams (to 21st October 2021) |
| Craig Harris (from 31st January 2022) |
|
| Assistant Treasurer | Peter Nightingale* (to 21st October 2021) |
| Peter Picken from 21st October 2021) |
-
- indicates individuals who are honorary officers but are not also trustees.
Independent Examiner
Nicholas Paul Sandy FCA The Richards Sandy Partnership Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU
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West Mercia Police Wèlfare Fund Report of the Trustees for th6 Y•ar Ended 31st Mar¢h 2022 REFERENCE AND ADMINISTRATIVE DETAILS Bankers HSBC 16 Sh&rWO Square T&lford Shopping Contr6 Telford TF34AN UnityTru5t Bank PO Box 7193 Planetary Road willhall WVI 9DG Investmènt managers Iljiller Chemot Toronto Square Toronto Stre81 Leeds Wesl Yorkshire LS12HJ Approved by order of the board ol trustees on nd sied on 118 b8half by Mr Craig rns- Twst80 Page 4
Independ•nt Examlnerfs R•port to th• Truste63 of West Mercla Police Welfare Fund Independènt e¥¥minerfs report to the trustees of West Mercia Police Welfare Fund I report to the charity twstees on my examlnation of the accounts of Wesl Mercia Police Wellare Fund {the Trust) for the year ended 31st March 2022. Re8ponslbllitios and ba818 of report As the charity truste8s of the Trust YOU ar8 responslbla for th8 preparation of th• accounts in accofdance wth the requirernents of the Charities Act 2011 flhe ACVI. I report in respect of my exarnination of the Trust'8 accounts Carr out undef sedion 145 of the Act and in e2rrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145{5llbl of the Indopgndent •xamln•rf8 $tstemfrnt I h8vè complgtèd my examination. I conffirm that no mattrrial matt•rs have come lo my att8ntion in connection with the examlnation glving me cause to bèlleve Ihat in any matèriBI re8P8¢t'. accounting iecord8 were not kept in reBpe¢t of the Trust a8 required by 8ection 130 of the Act,. or the account8 do not accord with those records., or the acwunts do not eomply with Ihe applicable requirements conc•ming th• form and ¢ontenl of accounts set out In the Ch8rille8 {Accounls and Reports) Regulations 2008 other than 8ny requirement that the accounts give a truo and fair vi8w which is not a matter considered as part of An independent examination. I havè no concems and have come acro88 no other rnaitsrs In connectJon the examln8tion to which attantion Should be drawn in this reptsrt in order to enable a proper understsnding of th8 accoun18 to bé r•ach*d. NicholBS Paul Sandy FCA The RS¢h8rds Sandy Partner8hlp Thomelo8 House 25 Borbourn¢ Rogd Wor¢esler Worceslershife WR1 1RU Date.. Pagg 5
West Mercia Police Welfare Fund
Statement of Financial Activities for the Year Ended 31st March 2022
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| as restated | ||||||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 4 | 40,886 | 132,194 | 173,080 | 166,316 | |
| Charitable activities | ||||||
| Holiday home made avaliable to members | 2,420 | - | 2,420 | - | ||
| Other trading activities | 5 | 2,596 | - | 2,596 | 8,172 | |
| Investment income | 6 | 6,868 | - | 6,868 | 5,001 | |
| Total | 52,770 | 132,194 | 184,964 | 179,489 | ||
| EXPENDITURE ON | ||||||
| Raising funds | ||||||
| Other trading activities | 7 | 1,480 | - | 1,480 | 7,060 | |
| Investment management costs | 8 | 6,566 | - | 6,566 | 5,687 | |
| 8,046 | - | 8,046 | 12,747 | |||
| Charitable activities | 9 | |||||
| Relief provided to members | 43,604 | 132,194 | 175,798 | 159,125 | ||
| Holiday home made avaliable to members | 11,526 | - | 11,526 | 3,791 | ||
| Grants issued to other charities | 2,750 | - | 2,750 | - | ||
| Total | 65,926 | 132,194 | 198,120 | 175,663 | ||
| Net gains on investments | 13,371 | - | 13,371 | 92,355 | ||
| NET INCOME | 215 | - | 215 | 96,181 | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 758,403 | - | 758,403 | 662,222 | ||
| TOTAL FUNDS CARRIED FORWARD | 758,618 | - | 758,618 | 758,403 |
The notes form part of these financial statements
Page 6
West Mercia Polic8 Wèlfarè Fund Balance Sheet 31st March 2022 2022 Total funds 2021 To181 funds as restated unreslrled funds Reslllcted funds Notes FIXED ASSETS Tangible assets Investrn&nls 17 18 49,249 507.865 49,249 507,865 53,902 496.750 557.114 557,114 550,652 CURRENT ASSETS Debtors amount5 falling due within one year Debtors amourtls falling due after more than on8 year Cash at bank 19 10,930 10,936 13.527 19 15,535 181,387 15.535 213,985 24,132 188.304 32,598 207.858 32,598 240,456 225,963 CREDITORS Amounts falling due wlhin one year 20 16,3541 132.5981 138,9521 118,2121 NET CURRENT ASSETS 201,504 201,504 207,751 TOTAL ASSETS LESS CURRENT LIABILITIES 758.618 758.618 758,403 NET ASSETS 758,618 75B,618 758.403 FUNDS Unr8StrKled funds General fund 22 758,618 758,403 TOTAL FUNDS 758,618 758,403 Th8 financial 513lemenls wer8 approv8d by the Board of Truste88 8nd aulhonsed fcf GUe and were signed on Its b&haK by on iaig Hams- Trustee The noles form part ol these fin8nci81 slaternents Page 7
West Mercia Police Welfare Fund
Notes to the Financial Statements for the Year Ended 31st March 2022
1. STATUTORY INFORMATION
The charity is an unincorporated charity registered with the Charity Commission for England and Wales.
The charity's address can be found in the Report of the Trustees.
2. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations are accounted for when received.
Membership subscriptions are considered to be, in substance, donations rather than payment for services. Membership subscriptions are recognised over the subscription period on a straight-line basis.
Income tax refunds in respect of Gift Aid are accounted for in the period in which the charity receives the refund (see note 3 - critical accounting judgements and key sources of estimation uncertainty).
Lottery income is recognised at the point when draws take place.
Holiday home let income is recognised in line with the period of the holiday let.
Income from listed investments is recognised when the right to receive payment is established.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants paid to eligible members to alleviate hardship which are not repayable by the members are recognised when paid.
Grants to institutions are recognised at the point when the offer made by the charity is conveyed to the recipient, except in cases where the offer is subject to conditions not yet met.
ALLOCATION OF SUPPORT COSTS BETWEEN ACTIVITIES
Support costs are allocated solely to the principal charitable activity of providing relief to members.
TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently depreciated.
Depreciation is recognised so as to write off the cost of assets over their useful economic lives on the following basis:
- Static caravan - over 12 years on cost (in line with the caravan park licence agreement)
TAXATION
The charity is exempt from tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds and donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose are available as general funds
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West Mercia Police Welfare Fund
Notes to the Financial Statements - continued for the Year Ended 31st March 2022
2. ACCOUNTING POLICIES - continued
FUND ACCOUNTING
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria, is charged to the restricted funds.
FINANCIAL INSTRUMENTS
The charity has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the charity becomes party to contractual provisions of the instrument.
Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Fixed asset investments
Investments are held at market value with gains and losses on revaluations recognised within the Statement of Financial Activities.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Concessionary loans
Concessionary loans (i.e. free of interest) are granted to eligible members to alleviate hardship. These loans, which are repayable after more than one year, they are initially recognised at the amount paid, with the carrying value adjusted in subsequent years to reflect repayments, adjusted for any impairment if necessary.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.
3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
Gift aid claims
The charity makes gift aid claims from HMRC on amounts received from members. These claims are processed by an agent on behalf of the charity. Due to the time scale as to when these claims are made, it is not considered practicable to make a reliable estimate as to the level of gift aid to be claimed after the year end that relates to amounts received from members during the current financial year. As such, gift aid claims are not brought into account and recognised until they are received.
In the current year total gift aid claims received amounted to £33,444 (2021 - £30,981).
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West Mercia Police Welfare Fund
Notes to the Financial Statements - continued for the Year Ended 31st March 2022
4. DONATIONS AND LEGACIES
| Donations Gift aid Membership subscriptions 5. OTHER TRADING ACTIVITIES Lottery income 6. INVESTMENT INCOME Listed investment income 7. OTHER TRADING ACTIVITIES Lottery prizes 8. INVESTMENT MANAGEMENT COSTS Listed investment manager fees 9. CHARITABLE ACTIVITIES COSTS Relief provided to members Holiday home made avaliable to members Grants issued to other charities |
Direct Costs (see note 10) £ 2,417 11,526 - 13,943 |
Grant funding of activities (see note 11) £ 147,995 - 2,750 150,745 |
2022 2021 as restated £ £ 80 50 33,444 30,981 139,556 135,285 173,080 166,316 2022 2021 as restated £ £ 2,596 8,172 2022 2021 as restated £ £ 6,868 5,001 2022 2021 as restated £ £ 1,480 7,060 2022 2021 as restated £ £ 6,566 5,687 Support costs (see note 12) Totals £ £ 25,386 175,798 - 11,526 - 2,750 25,386 190,074 |
|---|---|---|---|
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West Mercia Police Welfare Fund
Notes to the Financial Statements - continued for the Year Ended 31st March 2022
10. DIRECT COSTS OF CHARITABLE ACTIVITIES
| Rental of holiday home for free use by qualifying members Convalescent home expenses Cleaning supplies (distributed free to police staff) Static caravan running costs Depreciation GRANTS PAYABLE Relief provided to members Grants issued to other charities The total grants paid to institutions during the year was as follows: Flint House Police Rehabilitation The Police Children's Trust West Mercia Police Civilian Welfare Fund Care Of Police Survivors Small institutional grants (less than £500 each) |
2022 2021 as restated £ £ - 1,500 2,417 251 - 306 6,873 1,852 4,653 1,939 13,943 5,848 2022 2021 as restated £ £ 147,995 139,200 2,750 - 150,745 139,200 2022 2021 as restated £ £ 118,237 114,603 13,957 13,529 236 220 1,000 - 1,750 - 135,180 128,352 |
|---|---|
11. GRANTS PAYABLE
Grants issued to Flint House Police Rehabilitation and The Police Children's Charity are funded out of fixed elements of membership subscription income received for this purpose.
Grants issued to West Mercia Police Civilian Welfare Fund are partly funded from lottery trading activities.
Grants issued to other charities are made at the request of members who are participating in fund raising activities in support of those charities.
The total grants paid to individuals during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| as restated | ||
| £ | £ | |
| Grants to individuals | 15,565 | 10,848 |
Grants paid to individuals represent amounts paid to or on behalf of members in need.
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West Mercia Police Welfare Fund
Notes to the Financial Statements - continued for the Year Ended 31st March 2022
12. SUPPORT COSTS
Relief provided to members
Governance costs £ 25,386
During the previous year the charity paid a contribution towards the implementation of a new national database of members, which is to be administered centrally by the Police Federation of England and Wales.
Support costs, included in the above, are as follows:
| Support costs, included in the above, are as follows: | ||
|---|---|---|
| 2022 | 2021 | |
| as restated | ||
| Relief | ||
| provided | ||
| to | Total | |
| members | activities | |
| £ | £ | |
| Independent examiner's fees | 2,280 | 2,280 |
| Legal fees | 6,913 | - |
| Provision for bad debts | 5,910 | - |
| National membership database contribution | - | 7,640 |
| Sundries | 68 | 20 |
| Administration charges | 10,215 | 7,928 |
| 25,386 | 17,868 |
13. TRUSTEES' REMUNERATION AND BENEFITS
During both the current and previous years no remuneration has been paid to any trustees.
TRUSTEES' EXPENSES
Total travel expenses reimbursed to 1 (2021 - 1) trustee totalled £52 (2021 - £45).
14. STAFF COSTS
The charity did not directly employ any staff during either the current or the previous years.
However the charity is recharged an administration fee by West Mercia Police and previously by West Mercia Constabulary Police Federation in regard to the staff costs of a shared administrative employee. Total administration fees for the year was £10,215 (2021 - £7,928).
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West Mercia Police Welfare Fund
Notes to the Financial Statements - continued for the Year Ended 31st March 2022
15. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 38,184 Other trading activities 8,172 Investment income 5,001 Total 51,357 EXPENDITURE ON Raising funds Other trading activities 7,060 Investment management costs 5,687 12,747 Charitable activities Relief provided to members 30,993 Holiday home made avaliable to members 3,791 Total 47,531 Net gains on investments 92,355 NET INCOME 96,181 RECONCILIATION OF FUNDS Total funds brought forward 662,222 TOTAL FUNDS CARRIED FORWARD 758,403 |
Restricted Total funds funds as restated £ £ 128,132 166,316 - 8,172 - 5,001 128,132 179,489 - 7,060 - 5,687 - 12,747 128,132 159,125 - 3,791 128,132 175,663 - 92,355 - 96,181 - 662,222 - 758,403 |
|
| 179,489 | ||
| 7,060 5,687 |
||
| 12,747 159,125 3,791 |
||
| 175,663 | ||
| 92,355 | ||
| 96,181 662,222 |
||
| 758,403 |
16. PRIOR YEAR ADJUSTMENT The comparatives have been amended to reduce accrued income in regard to listed investment income by £7,489.
17. TANGIBLE FIXED ASSETS
| COST At 1st April 2021 and 31st March 2022 DEPRECIATION At 1st April 2021 Charge for year At 31st March 2022 NET BOOK VALUE At 31st March 2022 At 31st March 2021 |
Static caravan £ 55,841 |
|---|---|
| 1,939 4,653 |
|
| 6,592 | |
| 49,249 | |
| 53,902 |
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West Mercia Police Welfare Fund
Notes to the Financial Statements - continued for the Year Ended 31st March 2022
18. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1st April 2021 | 496,750 |
| Additions | 98,086 |
| Disposals | (100,342) |
| Revaluations | 13,371 |
| At 31st March 2022 | 507,865 |
| NET BOOK VALUE | |
| At 31st March 2022 | 507,865 |
| At 31st March 2021 | 496,750 |
The valuation of the investments, at market value, was performed by Quilter Cheviot.
The investments are held to provide an investment return to the charity.
19. DEBTORS
| Amounts falling due within one year: Loans granted to members Accrued income Prepayments Amounts falling due after more than one year: Loans granted to members Aggregate amounts |
2022 as £ 7,100 616 3,220 10,936 15,535 26,471 |
2021 restated £ 10,091 143 3,293 13,527 24,132 37,659 |
|---|---|---|
Loans to granted to members
Loans granted to members are unsecured concessionary loans where no interest is charged and are being settled by way of monthly repayments by the members collected by West Mercia Police on behalf of the charity.
Loans granted to members outstanding at the year end were as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Amounts falling due within one year | 9,464 | 10,091 |
| Amounts falling due after more than one year | 19,081 | 24,132 |
| 28,545 | 34,223 | |
| Loans granted to members movement in the year: | ||
| 2022 | 2021 | |
| £ | £ | |
| As at 1 April 2021 | 34,223 | 37,921 |
| Member repayments received in the year | (8,678) | (10,698) |
| New member loans issued in the year | 3,000 | 7,000 |
| As at 31 March 2022 | 28,545 | 34,223 |
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West Mercia Police Welfare Fund
Notes to the Financial Statements - continued for the Year Ended 31st March 2022
20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accruals for grants payable Accrued expenses |
2022 as £ 32,598 6,354 38,952 |
2021 restated £ 10,990 7,222 18,212 |
|---|---|---|
21. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years In more than five years |
2022 as £ 4,940 19,760 27,994 52,694 |
2021 restated £ 4,940 19,760 32,934 57,634 |
|---|---|---|
Operating lease costs for the year were £4,808 (2021 - £1,512).
22. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 1.4.21 | in funds | 31.3.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 758,403 | 215 | 758,618 | |
| TOTAL FUNDS | 758,403 | 215 | 758,618 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 52,770 | (65,926) | 13,371 | 215 |
| Restricted funds | ||||
| Flint House Police Rehabilitation | 118,237 | (118,237) | - | - |
| The Police Children's Charity | 13,957 | (13,957) | - | - |
| 132,194 | (132,194) | - | - | |
| TOTAL FUNDS | 184,964 | (198,120) | 13,371 | 215 |
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continued...
West Mercia Police Welfare Fund
Notes to the Financial Statements - continued for the Year Ended 31st March 2022
22. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the Unrestricted funds General fund Restricted funds Flint House Police Rehabilitation The Police Children's Charity TOTAL FUNDS |
At 1.4.20 £ 662,222 662,222 above are as follows: Incoming Resources resources expended £ £ 51,357 (47,531) 114,604 (114,604) 13,528 (13,528) 128,132 (128,132) 179,489 (175,663) |
Net movement At in funds 31.3.21 £ £ 96,181 758,403 96,181 758,403 Gains and Movement losses in funds £ £ 92,355 96,181 - - - - - - 92,355 96,181 |
At 31.3.21 £ 758,403 |
|---|---|---|---|
| 758,403 | |||
| - | |||
| 96,181 |
RESTRICTED FUNDS
Flint House Police Rehabilitation
A fixed percentage of subscriptions income received is paid over to Flint House Police Rehabilitation (formerly called The Police Rehabilitation Centre) for the provision of facilities and services for contributing members past and present of the West Mercia Police and their families and dependents to aid sickness recovery and help to alleviate distress from disabilities and handicaps and to provide care for the infirm and for convalescence.
The Police Children's Charity
A fixed percentage of subscriptions income received is paid over to The Police Children's Charity (formerly called St George's Police Children Trust) for the care of needy children of deceased police officers.
23. RELATED PARTY DISCLOSURES
For part of the year the charity was administered by West Mercia Constabulary Police Federation and 3 of the trustees of the charity (including 2 trustees that resigned during the year) are officers of West Mercia Constabulary Police Federation. During the year administrative fees of £8,172 (2021 - £7,928) and use of holiday home costs of £nil (2021 - £1,500) were payable to West Mercia Constabulary Police Federation. At the year end the charity owed £nil (2021 - £3,462) to West Mercia Constabulary Police Federation.
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West Mercia Police Welfare Fund
| Detailed Statement of Financial Activities for the Year Ended 31st March 2022 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Membership subscriptions Other trading activities Lottery income Investment income Listed investment income Charitable activities Static caravan lets (rented to members at no or nominal fee) Total incoming resources EXPENDITURE Other trading activities Lottery prizes Investment management costs Listed investment manager fees Charitable activities Rental of holiday home for free use by qualifying members Convalescent home expenses Cleaning supplies (distributed free to police staff) Static caravan running costs Static caravan depreciation Grants to institutions Grants to individuals Support costs Governance costs Independent examiner's fees Legal fees Provision for bad debts National membership database contribution Sundries Administration charges Total resources expended Net (expenditure)/income |
2022 2021 as restated £ £ 80 50 33,444 30,981 139,556 135,285 173,080 166,316 2,596 8,172 6,868 5,001 2,420 - 184,964 179,489 1,480 7,060 6,566 5,687 - 1,500 2,417 251 - 306 6,873 1,852 4,653 1,939 135,180 128,352 15,565 10,848 164,688 145,048 2,280 2,280 6,913 - 5,910 - - 7,640 68 20 10,215 7,928 25,386 17,868 198,120 175,663 (13,156) 3,826 |
2022 2021 as restated £ £ 80 50 33,444 30,981 139,556 135,285 173,080 166,316 2,596 8,172 6,868 5,001 2,420 - 184,964 179,489 1,480 7,060 6,566 5,687 - 1,500 2,417 251 - 306 6,873 1,852 4,653 1,939 135,180 128,352 15,565 10,848 164,688 145,048 2,280 2,280 6,913 - 5,910 - - 7,640 68 20 10,215 7,928 25,386 17,868 198,120 175,663 (13,156) 3,826 |
|---|---|---|
| 166,316 8,172 5,001 - |
||
| 179,489 7,060 5,687 1,500 251 306 1,852 1,939 128,352 10,848 |
||
| 145,048 2,280 - - 7,640 20 7,928 |
||
| 17,868 | ||
| 175,663 | ||
| 3,826 |
This page does not form part of the statutory financial statements
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