**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. Page 1 ## **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. Page 2 **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 Page 3 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 will￿hall WVI 9DG Investmènt managers Iljiller Chemot Toronto Square Toronto Stre81 Leeds Wesl Yorkshire LS12HJ Approved by order of the board ol trustees on nd si￿ed 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 unreslrl￿ed 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 Page 8 continued... **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). Page 9 continued... ## **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**| |---|---|---|---| Page 10 continued... ## **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. Page 11 continued... **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). Page 12 continued... ## **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| Page 13 continued... **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| |||| Page 14 continued... **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**| Page 15 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. Page 16 ## **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 Page 17