REGISTERED CHARITY NUMBER.. 1087525 Report of the Trustees and Financial Statements for the Year Ended 31st March 2024 for West Mercia Police Welfare Fund The Richards Sandy Partnership Thomeloe House 25 B8rbourne Road Worcester Worcestershire WR1 1RU West Mercia Police Welfare Fund Contents of the Financial Statements for the Year Ended 31st March 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 10 15 Detalled Statement of Financial Activltles 16 West Mèrcia Police Welfare Fund Report of the Trustees for the Year Ended 31st March 2024 The trustees present their report with the financial statements of the charily for the year ended 31 st March 2024 The Iruslees have adopted the provisions of Accounting and Reporling by Charities Statement of Recommended Practi applicable to charities preparing their accounts In accordan￿ with the Financial Reporting Standard applicable In the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 2019) OBJECTIVES AND ACTIVITIES Charity's oblects The charity's objects are lo relieve In cases of need, contributing members, past and present, of the Wesl Mercia Constabulary and Iheir families and dependents who are sick, convalescent, disabled, handicapped or Infirm or may be In necessilous or Impoverished condition, or who are suffering from temporary financial hardship, by providing, or paying for, Items, services or facilities whiGh are calculated to alleviate the suffering or assist the recovery of such persons In such cases, bul 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 Execulive Committee upon such terms as seem fit Ensuring ourwork delivers our aims Each year our aims, obieclives and 8clivilies 2re reviewed, based on IhÈ outcome of our WOTk In the previous 12 months, to ensure they still reflect and further our aims and legal purposes In our planning, setting obieclives and determining our activities the trustees have p81d due regard to the 'General Guidance on Public Benefit, published by the Ch8rily Commission In so doing, the Trustees consider the activities planned and how they further the aims and objectives they have set The 8uccess of activities Is reviewed each year In the context of benefits they bring lo those groups of people we are sel up lo help Soclal benefit By carrying out our aims and objectives the trustees have demonslraled their due regard lo the guidance published by the Charity Commission on public benefit by promoting the seNices and support available lo members. and 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 Ihe procedures as sel out In the Conslilulion Applications are received by the Fund and then given consideration by a minimum of three members of the Executive Committee The grants and loans made by the three members are then reported to the full Executive Committee at the next meeting of the said Commillee The Executive Commillee meels quarterfy ACHIEVEMENT AND PERFORMANCE Charitable activities The charity receives Income. principally from Ihe members as subscriptions The subscription received contains an element relaling to subscriptions payable lo Flint House Police Rehabilitation and untsl December 2022 The Police Children's Charity Following Flint House Police Rehabilitation and The Police Children's Chanly Increasing their pnces per member In the previous year the chanly made the decision not lo Increase their membership subscnplions, resulting In Ihe chanly paying out more In subscnptsons to Flint House Police Rehabilitation and The Police Children's Charity than the charity was receiving As a result the Gharity ceased their arrangement with The Police Children's Chanty In December 2022 During the year the chanty Issued grants to deseNing members lotalling £15,496 12023 £35,220), funded therapy sessions on behalf of members lolalling £7,99412023 £nill and had al the year end Interest free loans lo deseNing members In Issue of£59,259 {2023- £32,918) The charity also owns a stali¢ caravan which Is available lo Membe￿ for holiday rent, or provided free of charge In deserving cases as wellbeing support Investment performance Dunng the year the listed Investments managed by Quilter Cheviol w8re sold and the money was Instead reinvested Into CCLA COIF Charities Investment accumulation fund units The charity. due lo Ils size and nature, has no formal process to formally measure the success of its Investment holdings Page 1 West Mercia Polic¢ Welfare Fund Report of the Trustees for the Year Ended 31st March 2024 FINANCIAL REVIEW Financial results for the year Incoming resources for the year lotalled £224,672 12023 £184,058), although this Is distorted by the change In accounting estimate regarding the timing of when gift aid Income Is recognised which resulted In one off additional Income recognised of £42,945 Outgoing resources for th6 year totalled £209,005 (2023 £236,073), wlh the decrease In costs being due lo less lolal grants and therapy sessions paid In regard to Individual members and Ihe charity ceasing lo fund The Police Children's Trust subscnplions for members part way through last year The results for the year are as sel out In the Statement of Financial Activities on page 6 Investment policy and obSectlves There are some reslnclions on the charity's power lo Invest These restrictions are. however, consistent with a prudent approach lo Investment strategy The strategy Is such that the funds will be Invested In low and medium risk Investments with a view lo 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 lo the AGM Resetves policy It Is the policy of the Charity to maintain such liquid reserves {unrestricted) as will enable It to meet all Ils expenditure requirements for a period of at least six months The charity has lo fund 8dminislr8tion expenditure. and reserves are held lo cover payments made whil8 pursuing the charity's obieclives as well as administration charges levied by West Mercia Police Federation At the year end the Gharity held unreslriclad reserves of £719,868 {2023 £657,885), of which £39.94312023 £44,596) were held as functional assets of the charity and £523.600 {2023 £455,074) were held as listed Investments for the purpose of generating Investment Income, leaving free reserves of £156,325 {2023 £158,215) representing 8pproxim2lely 9 monlhs {2023 - 8 months) of annual expenditure As the charity currenlly has reseNes 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 1s budgeted lo result In a net cash deficit for the next financial year lo be funded out of general reserves STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The Wesl Mercia Police Welfare Fund Is constituted under a constitution dated 25 Apnl 2001 las amended on 2 October 2013, on 21 Oclober 2021, and again on May 181h 2023) and Is an unincorporated charity registered with the Charity Commission For England And Wales Icharily number 10875251 Recrultment and appointment of new trustees Following a change lo the trust deed In the ye8r, the Executive Committee consists of not less than 7 nor more than 12 persons The normal term of office Is three years, after which Iruslees are eligible lo sland for re-election or nomination for a further three year term In the first year only, after the latest change of conslilulion {May 20231, three trustees were elecledlnominaled for one year, three trustees for two years, and the remainder for three years. In order lo stagger Ihe retirement of trustees The members of the Executive Committee are elecledlnominaled at the Annual General Meeting as follows the Chief Conslables (who Is also the president of the charity) or their nominee, one nominee of the Superinlendenl's Association for the force, two nominees of the Police Federation Joint Branch Board of the force, one nominee from the Wesl Mercia Branch of the National Association of Relired Police Officers, four members elected from and by the members of the charity, and up to three persons coopted by Ihe executive committee The Chaimian, Vice Chairman, Secretary and Treasurer are elected by the members from those elected lo the Executive Committee Organisational structure The day lo day administration of the charity Is performed by the Officers, namely, Chaimian, Vice Chairman and SecrelarylTreasurer 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 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT {continued) Induction and tralning of new trustees New Iruslees attend 8 course on Iruslee responsibilities as soon as Is practicable after becoming appointed REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1087525 Prlnclpal address Wesl Mercia Police Headquarters Hindlip Hall Hindlip Worcestershire WR3 8SP TrustÈÈs serving during the financial yèar Name Term of office Nominated by Office Rachel Adie Deborah Bentley Steven Butler Margaret Case Sarah Cooper Stephanie Dyer Craig Harris Rachel Hartland-Lane Richard Johnson Kevin Jones Momenna Lansdale Phillippa Mills Alex Murray Peler Picken Peter Rigby Amanda Teague Carla Thomas Timothy Viner Edward Williams (coopted 25 May 20231 (elected 18 May 20231 (nominated 18 May 2023 for years) (nominated 18 May 2023 for one yearl. (term ended 18 May 20231 (term ended 18 May 2023) (coopted 18 May 2023), {nominaled 18 May 2023 for two years) {coopled 18 May 2023), {elecled 18 May 2023 for two years) {term ended 18 May 20231 Ilerm ended 18 May 20231 (term ended 18 May 20231 (term ended 18 May 20231 (nominated 18 May 20231 (term ended 18 May 20231 (elected 18 May 2023 for one year) (elected 18 May 2023 for one year) (nominated 18 May 2023) Treasurer Federation NARPO Federation Federation Vice-chair Treasurer CC nominee Secretary Chair Supts Association Chief Conslable CC nominee NARPO Federation Occupational Heallh Secretary Vice Chair Supls Association Chair Trustees who served throughout the financial year Honorary officers President Alex Murray Pippa Mills Edward Williams MoNenna Lansdale Carta Thomas Sarah Cooper Kevin Jones Alex Murray Rachel Adie Craig Harris (from 1 Oclober 2023) {10 30 September 2023) (from 18 May 2023) {10 18 May 20231 {from 18 May 20231 {to 18 May 20231 {from 18 May 20231 110 18 May 20231 (from 18 May 20231 (to 18 May 2023) Chairman Vice Chairman Secretary Treasurer Independent Examlner Melissa Jean Godwin ACA ACCA 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 31st March 2024 REFERENCE AND ADMINISTRATIVE DETAILS {continued) Bankers HSBC 16 SheTwood Square Telford Shopping Centre Telford TF3 4AN Investment managers Quilter Cheviol Toronto Square Toronto Street Leeds West Yorkshire LS1 2HJ (to 13 June 2023) Approved by order of the board of trustees on 26/09 /2621 and signed on Ils behalf by c) Ms Rachel Adie- Trustee P8ge 4 ## Independent Examiner's Report to the Trustees of West Mercia Police Welfare Fund Independent examiner's report to the trustees of West Mercia Police Welfare Fund | report to the charity trustees on my examination of the accounts of West Mercia Police Welfare Fund (the Trust) for the year ended 31st March 2024 Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act') | report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act . ‘ Independent examiner's statement | have completed my examination | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect 1 accounting records were not kept in respect of the Trust as required by Section 130 of the Act, or 2 the accounts do not accord with those records, or 3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which Is not a matter considered as part of an independent examination | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached Melissa Jean Godwin ACA ACCA The Association of Chartered Certified Accountants The Richards Sandy Partnership Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU Date I3-\\- 2 Page 5 West Mercia Policè Wèlfare Fund Statemènt of Financial Activities for the Year Ended 31st March 2024 2024 Total funds 2023 To181 funds Unrestricted funds Re8lricled funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 220,479 220.479 175,053 Charitable activities Holiday home made available lo members 1,640 1,640 890 Investment Income 2,553 2.553 8,115 Total 224.672 224,672 184,058 EXPENDITURE ON Ralsing funds Investment management costs 1,275 1,275 5,666 1,275 1,275 5.666 Charitable activities Relief provided lo members Holiday home made available to members Grants Issued lo other ch8nlies 191,784 14,696 1,250 191,784 14,896 1,250 215.735 14,172 500 Total 209,005 209,005 236,073 Net gainslllosse5) on Investments 48 7181 NET INCOMEIIEXPENDITUREI 61.983 61.983 (100,7331 RECONCILIATION OF FUNDS Total funds brought forward 657.885 657.885 758,618 TOTAL FUNDS CARRIED FORWARD 719,868 719,868 657,885 The notes form part of these financial sl8lements Page 6 West Mèrcia Police Welfare Fund Balance Sheet 31st March 2024 2024 Total funds 2023 Total funds Unreslri¢ted funds Reslricled funds Notes FIXED ASSETS Tangible assets Investments 14 15 39,943 523,600 39,943 523.600 44,596 455,074 563,543 563,543 499,670 CURRENT ASSETS D8blors amounts falling due within one year Debtors amounts falling due after more than one year Cash 81 bank 16 53,099 53,099 14,454 16 53,286 66.611 53.286 66,611 24.250 152,999 172,996 172,996 191,703 CREDITORS Amounts falling due wlhin one year 17 {16,671) 116,6711 {33,4881 NET CURRENT ASSETS 156 325 156325 158,215 TOTAL ASSETS LESS CURRENT LIABILITIES 719,868 719.868 657,885 NET ASSETS 719,868 719,868 657,885 FUNDS Unreslncled funds General fund a9 719.868 657,885 TOTAL FUNDS 719.868 657,885 The fin nei slalemenls were approved by the Board of Trustees and aulhonsed for Issue on 16foq22¥ and were signed on Ils behalf by Ms Rachel Adie - Trustee The notes form part of these financial statements Page 7 West Mercia Police Welfare Fund Notes to the Financial Statements for the Year Ended 31st March 2024 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 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charity, which Is 8 public benefit enlily under FRS 102, have been prepared In accordanGe with the Charities SORP (FRS 102) 'Accounting and Reporting by Chanlies Statement of Recommended Practice applicable lo charities prepanng their accounts In accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191,. Financial Reporting Standard 102 'The Firhancial Reporting Standard applicable In Ihe UK and Republic of Ireland, and the Chanlies Act 2017 The finan¢ial sl8lements have been prepared under the historical cost convention, with the exception of Investments which are Included al 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 enlillemenl lo 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 subscnplions are considered to be, In substance, don81ions rather than payment for se￿1￿8 Membership subscriptions are recognised over the subscription period on a slraighl-line basis Gift aid claimed on membership subscriptions Is reGognised In line WFlh the recognition of the relating membership subscriptions This Is a change In accounting estimate from last year (see note 3) Holiday home let Income Is recognised In line with the period of the holiday let Interest Income (Including Interest receivab18 on fixed Interest Iisled Investment bonds) Is recognised for 811 Interest-bearing Instruments on the effeclive Interest rale basis Dividends are recognised In the Income statement when they are declared EXPENDITURE Liabilities are recognised as expenditure as soon as there Is a legal or conslruclive obligation committing the charity lo (hat 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 re18ted lo the category Where costs cannot be directly attnbuled to particular headings they have been allocated lo activities on a basis consistent with the use of resouTces Grants paid to eligible members to alleviate hardship which are not repayable by Ihe members are recognised when paid Grants lo 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 SLtbiecl lo conditions not yel met ALLOCATION OF SUPPORT COSTS BETWEEN ACTIVITIES Support costs are allocated solely to the pnncipal Gharilable activity of providing relief lo members TANGIBLE FIXED ASSETS Tangible fixed assets are Initially measured al cosl and subsequently depreciated Depreciation Is recognised so as to write off the cost of assets over their useful economic lives on Ihe following basis Static caravan over 12 years on Gost (in line with the caravafl park Iicence agreement) TAXATION The charity Is exempl from lax on Ils charitable activities FUNO ACCOUNTING Unreslncled funds and donations and other 1ncoming resources receivable or generated for the objects of the charity wilhoul further specified purpose are available as general funds Page 8 continued West Mercia Police Welfare Fund Notes to the Financial Statements continued tor the Year Ended 31st March 2024 ACCOUNTING POLICIES - continued FUND ACCOUNTING Reslricled funds are lo be used for specific purposes as laid down by the donor Expenditure which meels these criteria, Is charged lo the restricted funds FINANCIAL INSTRUMENTS The charily has elected lo apply the provisions of Section 11. Basic Financial Instruments. and Section 12 '01her Financial Instruments Issues. of FRS 102 10 all of Ils financial Inslrum6nls Financial Inslrum6nls are recognised when the charity becomes party to conlraclual provisions of the Instrument Financial assets are offset. with the nel amounts presented In the accounts where there Is a legally enforceable right lo sel off the recognised amounts and there Is an Intention lo sellle on a nel basis or to realise the asset and sellle the liability simultaneously Fixed asset Investments Investments are held al markel value with gains and losses on revalualions recognised within the Slalemenl of Financial Activities Basic financial assets Basic financial assets, which Include Ir8de and other receivables and cash 2nd bank b81anc8s, are Initially measured al transaction pnce including transaction costs and are subsequently carried al amortised cost using the effective Interest method unless the arrangement congtilutes a financing Iransaclion, where the transaction Is measured at the present value of the future receipts discounted at a market rate of Interesl Concessionary loans Concessionary loans {1 è free of Interest) are granted lo 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 adiusled In subsequent years to reflect repayments, adiusled for any Impairment If necessary Basic financial Iiabilitias Basic financial liabilities, Including trade and other payables, are Initially recognised at transaction price unless the 8rrangemenl con8lilules a financing Irans8clioii, where the debt Instrument Is measured al the present value of future re￿Ip1s, discounted al a market rale of Interest Debt Instruments are subsequently carried at 8mortised cost, using Ihe effective Interest rate method Trade payables are obligations to pay for goods or setvices that have been acquired In the ordsnary course of the operations from suppliers Accounts payable are classified as current Iiabililies If payment Is due within one year or less If not, they are presented as non-current Iiabililies Trade payables are recognised Initially at transaction CHANGE IN ACCOUNTING ESTIMATION The chanty claims glft aid on Ils membership subscnptions In previous years Il was considered Impractical to reliably estimate future gift aid claims relat1ng lo current year membership subscriptions received However this year 8 reliable estimate of £42,178 has been made for the year end debtor relating to accrued gifl aid Income Gift aid Income for the year represents approximately two yeals worth of claims as a result DONATIONS AND LEGACIES 2024 2023 Donations Gift aid Membership subscriptions 490 77,526 142,463 675 34,550 139,828 220 479 175,053 Page 9 continued West Mèrcia Police Welfare Fund Notes to the Financial Statements continued for the Year Ended 31st March 2024 INVESTMENT INCOME 2024 2023 Bank Interest Listed Investment Income 356 2.197 265 7,850 2,553 8,115 INVESTMENT MANAGEMENT COSTS 2024 2023 Listed investment manager fees 1,275 5,666 CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note Direct Costs (see note 81 Support costs (see note 101 91 Totals Relief provided lo members Holiday home made available lo members Grants Issued lo other chanlies 160,639 15,496 15,649 191,784 14.696 14,696 1.250 1,250 175,335 16,746 15,649 207,730 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Flint House Police Rehabilitation subscriptions paid on behalf of members The Police Children's Trust subscriptions paid on beh81f of members Convalescent home expenses Therapy sessions SlaliG caravan running costs Depreciation 150.823 145,640 15,153 3,798 1.822 7,994 10.043 4,653 9,519 4,653 175,335 178,763 GRANTS PAYABLE 2024 2023 Relief provided lo members Grants Issued lo other chanlies 15,496 1,250 35,220 500 16,746 35,720 The total grants paid to Institutions during the year was as follows 2024 2023 Care Of Police Survivors Climbing Out Small Inslitulional grants (less than £500 each) 500 500 250 500 500 Grants Issued to other charities are made at the request of members who are participating In fund raising activities In support of those charities Page 10 continued West Mèrcia Police Wolfare Fund Notes to the Financial Statements - continued for the Year Ended 31st March 2024 GRANTS PAYABLE - continued The total grants paid lo Individuals during the year was as follows 2024 2023 Grants to Individuals 15,496 35,220 Grants paid lo Individuals represenl amounts paid lo or on behalf of members In need ?0 SUPPORT COSTS Govern8nce costs Relief provided to members 15,649 Support costs, Included In Ihe above, are as follows 2024 Relief provided lo members 2023 Total activities Independent examinerfs fees Insurance Administration charges 1,740 510 13,399 2,970 374 12,580 15,649 15,924 11 TRUSTEES. REMUNERATION AND BENEFITS During both the current and previous years no remuneration has been paid to any trustees TRUSTEES, EXPENSES There were no 31st March 2023 trustees, expenses paid for the year ended 31st March 2024 nor for the year ended 12. STAFF COSTS The charity did not directly employ any staff during either th8 current or the previous years However the charity Is recharged on administration fee by Wesl MercI3 Police In regard lo the staff costs of a shared administrative employee Total administration fees for the year was £13.399 {2023 - £12,580) Page 11 continued West Mercia Police Welfare Fund Notes to the Financial Statements - continued for the Year Ended 31st March 2024 13 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unr8slricted funds Reslricled funds Total funds INCOME AND ENDOWMENTS FROM Donations and leg8cies 175,053 175,053 Charitable activities Holiday home made available to members 890 890 Investment Income 8.115 8.115 Total 184,058 184.058 EXPENDITURE ON Raising funds Investment management cosls 5,666 5,666 5,666 5,666 Charitable activities Relief provided to members Holiday home made available to members Grants Issued to other chanlies 215,735 14,172 500 215,735 14,172 500 Total 236.073 236,073 Nel gainslllosses) on Investments 48.718) 48,7181 NET INCOMEIIEXPENDITURE} {100,733) 1100.7331 RECONCILIATION OF FUNDS Total funds brought forw2rd 758,618 758,618 TOTAL FUNDS CARRIED FORWARD 657,885 657,885 14 TANGIBLE FIXED ASSETS Static caravan COST Ai 1 sl April 2023 and 31st March 2024 55,841 DEPRECIATION At 1 st April 2023 Charge for year 11,245 4,653 At 31st March 2024 15.898 NET BOOK VALUE At 31st March 2024 39,943 At 31st March 2023 44,596 Page 12 continued West Mercia Police Welfare Fund Notes to the Financial Statements - continued for the Year Ended 31st March 2024 15. FIXED ASSET INVESTMENTS Listed Investments MARKET VALUE At 1 sl Apnl 2023 Additions Disposals Revaluations 455.074 490,392 {468,1821 46,316 Al 31st March 2024 523,600 NET BOOK VALUE At 31st March 2024 523,600 Al 31st March 2023 455,074 16 DEBTORS 2024 2023 Amounts falling due wilhin one year Loans granted to members Accrued Income Prepaymenls 5,973 42,178 4,948 8.668 767 5,019 53,099 14,454 Amounts falling due afler more than one year L03ns gr8nl8d lo members 24,250 Aggregate amounts 106,385 38.704 Loans to granted to members L02ns granted to members are unsecured concessionary loans where no Interest Is charged and are being sellled by way of monthly repayments by the member5 collected by Wesl Mercia Police on behalf of the charity Loans granted to members outstanding at the year end were as follows 2024 2023 Amounts falling due within one year Amounts falling due after more than one year 5,973 53,286 8,668 24,250 59,259 32.918 Loans granted lo members movement In the year 2024 2023 As at 1 April 2023 ember repayments received In the year New member loans Issued In the year 32,918 (9,809) 36,150 22,635 {10,517) 20,800 As at 31 March 2024 32,918 Page 13 continued West Mercia Police Welfare Fund Notes to the Financlal Statements continued for the Year Ended 31st March 2024 17. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Accrued expenses 12,719 3.952 24,968 8,520 16,671 33,488 18. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows 2024 2023 Within one year Between one and five years In more than five years 6.939 27,758 25,444 4,940 19.760 23,053 47.753 Operating lease costs for the year were £6,57612023 - £5,160) 19. MOVEMENT IN FUNDS Nel movement In funds Al 31324 A11423 Unrestricted funds General fund 657,885 61,983 719,868 TOTAL FUNDS 657.885 61.983 719,868 Nel movement In funds, Included In the above are as follows Incoming resources Resources expended Gains and losse8 Movement In funds Unrestricted funds General fund 224,672 {209,005) 46,316 61,983 TOTAL FUNDS 224,672 209.0051 Comparatives for movement In funds Nel movement In funds Al 31323 At1422 Unrestricted funds General fund 758,618 (100,7331 657,885 TOTAL FUNDS 758,618 100,7331 657,885 Page 14 continued West Mercia Police Welfare Fund Notes to the Financial Statements - continued for the Year Ended 31st March 2024 19 MOVEMENT IN FUNDS - continued Comparative nel movement In funds, Included In the above are as follows InGoming resources Resources expended Gains and losses Movement In funds Unrestricted funds General fund 184.058 {236.073) (48,7181 (100,733) TOTAL FUNDS 184,058 236.073) 48,7181 100.733) 20. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 st March 2024 Page 15 West Mercia Police Welfare Fund Detailed Slatement of Financial Activities for the Year Ended 31st March 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Membership subscriptions 490 77.526 142,463 675 34,550 139,828 220,479 175,053 Investment Income Bank Interest Listed Investment Income 356 2,197 265 7,850 2,553 8,115 Charltable actlvlties Static caravan lets 1.640 890 Total Incoming resources 224,672 184,058 EXPENDITURE Investment management costs Listed Investment manager fees 1,275 5,666 Charitable activities Flint House Police Rehabilitation subscriptions paid on behalf of members The Police Children's Trust subscnplions paid on behalfof members Convalescent home expenses Therapy sessions Static oaravan running costs static caravan depreciation Grants lo Institutions Grants to Individuals 150,823 145,640 15,153 3,798 1,822 7,994 10,043 4,653 1,250 15,496 9,519 4,653 500 35.220 192,081 214,483 Support costs Governance costs Independent examiner's fees Insurance Adminislralion charges 1,740 510 13.399 2,970 374 12,580 15.649 15,924 Total resources expended 209,005 236,073 Net Incomel{expenditurel 15.667 52,0151 This page does not form part of the slalulory financial statements P8ge 16