**REGISTERED CHARITY NUMBER: 1087525** **Report of the Trustees and Financial Statements for the Year Ended 31st March 2023** **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 2023** ||**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 2023** The trustees present their report with the financial statements of the charity for the year ended 31st March 2023. 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 an element relating to subscriptions payable to Flint House Police Rehabilitation and until December 2022 The Police Children's Charity. Following Flint House Police Rehabilitation and The Police Children's Charity increasing their prices per member in the year the charity made the decision not to increase their membership subscriptions, resulting in the charity paying out more in subscriptions to Flint House Police Rehabilitation and The Police Children's Charity than the charity was receiving. As a result in this the charity ceased their arrangement with The Police Children's Charity in December 2022. During the year the charity issued grants to deserving members totalling £35,220 (2022 - £15,565) and had at the year end interest free loans to deserving members in issue of £32,918 (2022 - £22,635). The charity also owns a static caravan which is rented out as a holiday home to members for no or nominal proceeds. ## **Fundraising activities** The members only lottery operated by the charity ceased trading in the previous 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. After the year end the charity changed investment managers to CCLA. Page 1 ## **West Mercia Police Welfare Fund** ## **Report of the Trustees for the Year Ended 31st March 2023** ## **FINANCIAL REVIEW** ## **Financial results for the year** During the year the charity had incoming resources of £184,058 (2022 - £184,964) and outgoing resources of £236,073 (2022 - £198,120), with net losses on investments of £48,718 (2022 - net gains of £13,371). The net outgoing resources for the year was £100,733 (2022 - net incoming resources of £215). 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 £657,885 (2022 - £758,618), of which £44,596 (2022 - £49,249) were held as functional assets of the charity and £455,074 (2022 - £507,865) were held as listed investments for the purpose of generating investment income, leaving free reserves of £158,215 (2022 - £201,504), representing approximately 8 months (2022 - 12 months) of annual expenditure. As the charity currently has reserves in excess of their reserves policy, the Executive Committee made the decision not to increase member fees for both the current and next financial years. 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 constitution 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 2023** ## **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 - served in the reporting period**|**Trustees - served in the reporting period**|| |---|---|---| |Margaret Case||| |Sarah Cooper|(resigned 18 May 2023)|| |Stephanie Dyer|(resigned 18 May 2023)|| |Craig Harris||| |Richard Johnson||| |Morwenna Lansdale|(resigned 18 May 2023)|| |Phillippa Mills||| |Julian Moss|(resigned 24 September 2022)|| |Alex Murray|(appointed 6 December 2022)|| |Peter Picken|(resigned 18 May 2023)|| |Amanda Teague|(resigned 18 May 2023)|| |**Trustees – appointed after the year end**||| |Rachel Adie|(appointed 25 May 2023)|| |Deborah Bentley|
(appointed 18 May 2023)|| |Steven Butler|(appointed 18 May 2023)|| |Rachel Hartland-Lane|
(appointed 18 May 2023)|| |Kevin Jones|(appointed 18 May 2023)|| |Peter Rigby|(appointed 18 May 2023)|| |Carla Thomas|(appointed 18 May 2023)|| |Timothy Viner|(appointed 18 May 2023)|| |Edward Williams|(appointed 18 May 2023)|| |**Honorary officers - served in the reporting period**||| |President|Pippa Mills|| |Chairman|Morwenna Lansdale|(to 18 May 2023)| |Vice Chairman|Sarah Cooper|(to 18 May 2023)| |Secretary|Julian Moss|(to 1st September 2022)| ||Alex Murray|(from 1 September 2022 to 18 May 2022)| |Assistant Secretary|Richard Johnson|(to 18 May 2023)| |Treasurer|Craig Harris|(to 18 May 2023)| |Assistant Treasurer|Peter Picken|(to 18 May 2023)| |**Honorary officers – appointed after the year end**||| |Chairman|Edd Williams|(from 18 May 2023)| |Vice Chairman|Carla Thomas|(from 18 May 2023)| |Secretary|Kevin Jones|(from 18 May 2023)| |Treasurer|Rachel Adie|(from 18 May 2023)| ## **Independent Examiner** Melissa Godwin The Richards Sandy Partnership Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU Page 3 West Mercia Police Welfare Fund Report of the Trustees for the Year Ended 31 st March 2(b23 REFERENCE AND ADMINISTRATIVE DETAILS Bankers HSBC 16 Sherwood Square Telford Shopping Centre Te51ord TF34AN Investment managers Quiller Cheviol Toronto Square Toronto Street Lee£Js W8St Yorkshire LS12HJ Approved by order of the tx)ard of trustee5 on Z6/01/24 ar￿ signed on Its behalf by Ms Rachel Adi8- Trustee Page 4 In(knpend•nt Examin*s Reportto the Tr￿1￿ of West Mercia Pollce WeWawB Fund Ind•p•ndentexamin8es report to th•tn*tre• (rf West IA9￿51 Polleè W•lfar• Fund I report to the chanty Iru5ke5 Lm my eknvninabon of ￿tyJnts of IAtst Ilertsa IAwfare Fund lthe Trust) for th8 year ende)untsnts The Rich8rds SaTrSy Partn•rshp Thon*1￿ House 25 B8tsJum8 Ro8d Worc￿ter WorcMteFshir• WRI 1RIJ Page 5 ## **West Mercia Police Welfare Fund** ## **Statement of Financial Activities** ## **for the Year Ended 31st March 2023** |Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
4
**175,053**
**Charitable activities**
Holiday home made available to members
**890**
Other trading activities
5
**-**
Investment income
6
**8,115**
**Total**
**184,058**
**EXPENDITURE ON**
**Raising funds**
Other trading activities
7
**-**
Investment management costs
8
**5,666**
**5,666**
**Charitable activities**
9
Relief provided to members
**215,735**
Holiday home made available to members
**14,172**
Grants issued to other charities
**500**
**Total**
**236,073**
Net gains/(losses) on investments
**(48,718) **
**NET INCOME/(EXPENDITURE)**
**(100,733)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**758,618**
**TOTAL FUNDS CARRIED FORWARD**
**657,885**|Restricted
funds
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2023**
**Total**
**funds**
**£**
**175,053**
**890**
**-**
**8,115**
**184,058**
**-**
**5,666**
**5,666**
**215,735**
**14,172**
**500**
**236,073**
**(48,718) **
**(100,733)**
**758,618**
**657,885**|2022
Total
funds
£
173,081
2,420
2,596
6,867
184,964
1,480
6,566
8,046
175,798
11,526
2,750
198,120
13,371
215
758,403
758,618| |---|---|---|---| The notes form part of these financial statements Page 6 West Mercia Poll¢e W•lfarg Fund 8alance Sheet 31st March 2023 2023 Total funds 2022 Total funds Unr8slri¢t8d funds Restricted funds Not8s FIXED ASSETS Tangitile assets Investments 16 17 44,598 455,074 44,596 455,074 49,249 507,865 499,670 499,670 557,114 CURRENT ASSETS Debtors amounts falling due within one year Debtors amoLtnls falling due after more than one year Cash al bank 18 14,454 14,454 10,936 18 24,250 152 999 24,250 152.999 15,535 213,984 191.703 191.703 240,455 CREDITORS Arnounts falling due within one year 19 133.4881 133,4881 138,9511 NET CURRENT ASSETS 158215 58.215 201,504 TOTAL ASSETS LESS CURRENT LIABILITIES 657.885 657.885 758,618 NET ASSETS 657,885 657.885 758,618 FUNDS Uniestncted tunds General fund 21 657 885 758,618 TOTAL FUNDS 657,885 758,618 n¢ I statements were approved by the Board of Twslees and authonsed for Issue on and were signed on its behalf by Ms Rachel Adie- Trustee The notes form part of these finan￿81 statèments Pag8 7 **West Mercia Police Welfare Fund** **Notes to the Financial Statements for the Year Ended 31st March 2023** ## **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 2023** ## **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 £34,550 (2022 - £33,444). Page 9 continued... **West Mercia Police Welfare Fund** ## **Notes to the Financial Statements - continued for the Year Ended 31st March 2023** |**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 available to
members
Grants issued to other charities|Direct
Costs (see
note 10)
£
**164,591**
**14,172**
**-**
**178,763**|Grant
funding of
activities
(see note
11)
£
**35,220**
**-**
**500**
**35,720**|**2023**
**£**
**675**
**34,550**
**139,828**
**175,053**
**2023**
**£**
**-**
**2023**
**£**
**8,115**
**2023**
**£**
**-**
**2023**
**£**
**5,666**
Support
costs (see
note 12)
£
**15,924**
**-**
**-**
**15,924**|2022
£
80
33,444
139,557
173,081
2022
£
2,596
2022
£
6,867
2022
£
1,480
2022
£
6,566
Totals
£
**215,735**
**14,172**
**500**
**230,407 **| |---|---|---|---|---| Page 10 continued... **West Mercia Police Welfare Fund** ## **Notes to the Financial Statements - continued for the Year Ended 31st March 2023** ## **10. DIRECT COSTS OF CHARITABLE ACTIVITIES** |Flint House Police Rehabilitation subscriptions paid on behalf of members
The Police Children's Trust subscriptions paid on behalf of members
Convalescent home expenses
Static caravan running costs
Depreciation
**11.**
**GRANTS PAYABLE**
Relief provided to members
Grants issued to other charities
The total grants paid to institutions during the year was as follows:
Care Of Police Survivors
West Mercia Police Civilian Welfare Fund
Small institutional grants (less than £500 each)|**2023**
**£**
**145,640**
**15,153**
**3,798**
**9,519**
**4,653**
**178,763**
**2023**
**£**
**35,220**
**500**
**35,720**
**2023**
**£**
**500**
**-**
**-**
**500**|2022
£
118,237
13,957
2,417
6,873
4,653|2022
£
118,237
13,957
2,417
6,873
4,653|2022
£
118,237
13,957
2,417
6,873
4,653| |---|---|---|---|---| |||146,137||| ||||2022
£
15,801
2,750|| ||||18,551|| ||||2022
£
1,000
236
1,750
2,986|| |||||2,986| Grants issued to West Mercia Police Civilian Welfare Fund were paid out of income received from lottery fundraising 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: |Grants to individuals|**2023**
**£**
**35,220**|2022
£
15,565| |---|---|---| Grants paid to individuals represent amounts paid to or on behalf of members in need. ## **12. SUPPORT COSTS** |**SUPPORT COSTS**|| |---|---| ||Governance| ||costs| ||£| |Relief provided to members|**15,924**| Page 11 continued... ## **West Mercia Police Welfare Fund** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31st March 2023** ## **12. SUPPORT COSTS - continued** Support costs, included in the above, are as follows: |**2023**
Relief
provided
to
members
**£**
Independent examiner's fees
**2,970**
Legal fees
**-**
Provision for bad debts
**-**
Insurance
**374**
Sundries
**-**
Administration charges
**12,580**
**15,924**|2022
Total
activities
£
**2,280**
**6,913**
**5,910**
**-**
**68**
**10,215**
**25,386**| |---|---| ## **13. TRUSTEES' REMUNERATION AND BENEFITS** During both the current and previous years no remuneration has been paid to any trustees. ## **TRUSTEES' EXPENSES** During the year no trustee expenses were paid (2022 - 1 trustee was reimbursed travel expenses totalling £52). ## **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 last year by West Mercia Constabulary Police Federation) in regard to the staff costs of a shared administrative employee. Total administration fees for the year was £12,580 (2022 - £10,215). Page 12 continued... ## **West Mercia Police Welfare Fund** ## **Notes to the Financial Statements - continued for the Year Ended 31st March 2023** |**15.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
173,081
**Charitable activities**
Holiday home made avaliable to members
2,420
Other trading activities
2,596
Investment income
6,867
**Total**
184,964
**EXPENDITURE ON**
**Raising funds**
Other trading activities
1,480
Investment management costs
6,566
8,046
**Charitable activities**
Relief provided to members
175,798
Holiday home made avaliable to members
11,526
Grants issued to other charities
2,750
**Total**
198,120
Net gains on investments
13,371
**NET INCOME**
215
**RECONCILIATION OF FUNDS**
Total funds brought forward
758,403
**TOTAL FUNDS CARRIED FORWARD**
758,618
**16.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1st April 2022 and 31st March 2023
**DEPRECIATION**
At 1st April 2022
Charge for year
At 31st March 2023
**NET BOOK VALUE**
At 31st March 2023
At 31st March 2022|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
funds
£
173,081
2,420
2,596
6,867
184,964
1,480
6,566
8,046
175,798
11,526
2,750
198,120
13,371
215
758,403
758,618
Static
caravan
£
**55,841**
**6,592**
**4,653**
**11,245**
**44,596**
49,249| |---|---|---| Page 13 continued... **West Mercia Police Welfare Fund** ## **Notes to the Financial Statements - continued for the Year Ended 31st March 2023** ## **17. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|| |---|---| ||Listed| ||investments| ||£| |**MARKET VALUE**|| |At 1st April 2022|**507,865**| |Additions|**111,836**| |Disposals|**(115,909)**| |Revaluations|**(48,718) **| |At 31st March 2023|**455,074**| |**NET BOOK VALUE**|| |At 31st March 2023|**455,074**| |At 31st March 2022|507,865| 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. ## **18. 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|**2023**
**£**
**8,668**
**767**
**5,019**
**14,454 **
**24,250**
**38,704 **|2022
£
7,100
616
3,220
10,936
15,535
26,471| |---|---|---| ## **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: |Amounts falling due within one year
Amounts falling due after more than one year
Loans granted to members movement in the year:
As at 1 April 2022
Member repayments received in the year
New member loans issued in the year
Bad debt provision
**As at 31 March 2023**|**2023**
**£**
**8,668**
**24,250 **
**32,918**
**2023**
**£**
**22,635**
**(10,517)**
**20,800**
**-**
**32,918 **|2022
£
7,100
15,535
22,635
2022
£
34,223
(8,678)
3,000
(5,910)
22,635| |---|---|---| Page 14 continued... **West Mercia Police Welfare Fund** ## **Notes to the Financial Statements - continued for the Year Ended 31st March 2023** ## **19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
Accrued expenses|**2023**
**£**
**24,968**
**8,520**
**33,488**|2022
£
32,597
6,354
38,951| |---|---|---| ## **20. 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|**2023**
**£**
**4,940**
**19,760**
**23,053**
**47,753**|2022
£
4,940
19,760
27,994
52,694| |---|---|---| Operating lease costs for the year were £5,160 (2022 - £4,808). ## **21. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**184,058**
**TOTAL FUNDS**
**184,058**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.22
£
**758,618**
**758,618**
Resources
expended
£
**(236,073)**
**(236,073) **
At 1.4.21
£
758,403
758,403|Net
movement
At
in funds
31.3.23
£
£
**(100,733)**
**657,885**
**(100,733) **
**657,885**
Gains and
Movement
losses
in funds
£
£
**(48,718)**
**(100,733)**
**(48,718) **
**(100,733) **
Net
movement
At
in funds
31.3.22
£
£
215
758,618
215
758,618| |---|---|---| Page 15 continued... ## **West Mercia Police Welfare Fund** ## **Notes to the Financial Statements - continued for the Year Ended 31st March 2023** ## **21. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
184,964
184,964|Resources
expended
£
(198,120)
(198,120)|Gains and
Movement
losses
in funds
£
£
13,371
215
13,371
215| |---|---|---|---| ## **22. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31st March 2023. ## **23. PRIOR YEAR ADJUSTMENT** The comparatives have been amended to show within unrestricted funds activity amounts which were previously reported as restricted fund activity. These amounts relate to past arrangements to pay an element of membership subscription income to both Flint House Police Rehabilitation and The Police Children's Trust. In addition the relating expenditure has been shown within direct costs rather than as grants payable. Both unrestricted and restricted fund balances as at 31 March 2022 have remained unchanged. Page 16 ## **West Mercia Police Welfare Fund** ## **Detailed Statement of Financial Activities for the Year Ended 31st March 2023** |**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**
Flint House Police Rehabilitation subscriptions
paid on behalf of members
The Police Children's Trust subscriptions paid on
behalf of members
Convalescent home expenses
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
Insurance
Sundries
Administration charges
Total resources expended
**Net expenditure**|2023
£
**675**
**34,550**
**139,828**
**175,053**
**-**
**8,115**
**890**
**184,058**
**-**
**5,666**
**145,640**
**15,153**
**3,798**
**9,519**
**4,653**
**500**
**35,220**
**214,483**
**2,970**
**-**
**-**
**374**
**-**
**12,580**
**15,924**
**236,073**
**(52,015) **|2022
£
80
33,444
139,557
173,081
2,596
6,867
2,420
184,964
1,480
6,566
118,237
13,957
2,417
6,873
4,653
2,986
15,565
164,688
2,280
6,913
5,910
-
68
10,215
25,386
198,120
(13,156)| |---|---|---| This page does not form part of the statutory financial statements Page 17