REGISTERED COMPANY NUMBER: 08961292 (England and Wales) REGISTERED CHARITY NUMBER: 1159831
Report of the Trustees and
Financial Statements
for the Year Ended 31 December 2021
for
The Police Arboretum Memorial Trust
Locke Williams Associates LLP Chartered Accountants Registered Auditors c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL
The Police Arboretum Memorial Trust
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |||
|---|---|---|---|
| Chairman's Report | 1 | ||
| Report of the Trustees | 2 | to | 7 |
| Report of the Independent Auditors | 8 | to | 10 |
| **Statement of Financial Activities ** | 11 | ||
| Balance Sheet | 12 | ||
| Cash Flow Statement | 13 | ||
| Notes to the Cash Flow Statement | 14 | ||
| Notes to the Financial Statements | 15 | to | 21 |
The Police Arboretum Memorial Trust
Chairman's Report for the Year Ended 31 December 2021
The Police Arboretum Memorial Trust is creating a new UK Police Memorial to pay tribute to our police service and to honour the dedication, courage and sacrifice of its members who have died. This new Memorial provides a place of ceremony, remembrance and quiet reflection at the National Memorial Arboretum in Staffordshire, the UK's national place for year-round remembrance. Together with a national campaign, the Memorial will also help foster a national sense of pride and value in our police service for generations to come.
Since 1749 and the creation of the Bow Street Runners as the world's first recognised police service, over 4,000 men and women have given their lives to serve and protect our communities in the United Kingdom. Losses in British Colonial and other UK administered forces overseas number as many as a further 1,000.
The sacrifices made by the members of our police services deserve to be acknowledged and that tribute must become a part of the fabric of our national life. It is therefore fitting that, to honour the lives of the men and women who have given so much to serve and protect our communities, our nation should have a place of remembrance and celebration - both for them and their families.
We are delighted to say that thanks to the generosity of all our many donors, we achieved sufficient funding to complete the first phase of the project - the physical Memorial at the National Memorial Arboretum, a place where the nation can remember and pay tribute to our colleagues who have made the ultimate sacrifice.
The new UK Police Memorial was dedicated on 28th July 2021, in the presence of HRH, The Prince of Wales, the Prime Minister and other government representatives, families of the fallen, the police family and donors who made this project possible.
We are now working to fully complete the Memorial project in a final phase which will include the development of the Digital Memorial, and funding to endow a long-term maintenance programme for both the physical and digital elements of the Memorial.
The Digital Memorial, which can be seen here in beta format: http://digital.ukpolicememorial.org/) will use the latest multi-media technology to tell the stories behind the badge, commemorating by name those 4,000 plus members of our police service who have given their lives to the service. It will honour lives lived as well as remembering lives lost.
Our project is one of major national significance, supported by leaders, forces and associations of the police service. The Trustees and Patrons of the Police Arboretum Memorial Trust invite you to help us complete the Memorial that our police service and our country so richly deserve. A heartfelt thank you to all of those who have supported us and to all who are considering support.
When we enlist with the police service, we don't sign up to lay down our lives in the service of our communities. We do know that might happen, however, and sadly it has happened to many of our colleagues over the years.
Please support us as we now complete the vision and provide the tribute our policing heroes so richly deserve.
Martin Hewitt QPM Chair The Police Arboretum Memorial Trust www.ukpolicememorial.org
Page 1
The Police Arboretum Memorial Trust (Registered number: 08961292)
Report of the Trustees for the Year Ended 31 December 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. 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
Objectives, aims and significant activities
The Police Arboretum Memorial Trust has been established to ensure a fitting tribute is paid to the UK's police service through the creation of a new UK Police Memorial at the National Memorial Arboretum in Staffordshire, the UK's recognised centre for remembrance.
The objects of the charity are:
-
The promotion of good citizenship for the public benefit through the provision and maintenance of a permanent memorial to the police officers who have lost their lives in the performance of their duties.
-
To relieve the needs of the dependents of police officers who have lost their lives in the performance of their duties by providing or assisting in the provision of counselling, support and by such other means as the trustees may determine.
More specifically, the new Memorial aims to achieve many goals, which its trustees believe are fundamental to our country and national conscience:
-
Honour the dedication, courage and sacrifice of UK policing members who have dedicated their lives to serve and protect their communities;
-
Provide quiet space for personal reflection and remembrance;
-
Create an area for larger public events;
-
Foster a deeper understanding of UK policing nationally;
-
Celebrate UK policing - our nation's gift to the world.
-
Work with other police charities to support the families left behind
Public benefit
In setting these objectives and aims, the trustees have given due regard to the guidance published by the Charity Commission on Public Benefit.
Page 2
The Police Arboretum Memorial Trust (Registered number: 08961292)
Report of the Trustees for the Year Ended 31 December 2021
ACHIEVEMENT AND PERFORMANCE Charitable activities
FUNDRAISING
Fundraising during 2021 has been achieved through police forces, federations and other police family organisations, corporate and individual donors. The latter have been progressed mainly through personal networks of existing donors and supporters who have become ambassadors for the Trust. Leads have been followed only where there has been an indication of interest in the Memorial project.
Public fundraising is managed via the Trust's website which leads to the Trust's Just Giving page so that individuals who opt to make a gift, do so through a publicly respected forum.
The charity has always undertaken all of its fundraising in a manner without undue intrusion, pressure or persistence.
Thanks to the generous support from within the police family, individuals, businesses, trusts and foundations and Government, we have secured the funding required to complete the first phase of the project, the physical memorial and to enable the Memorial to be dedicated in a fitting manner.
A further £750,000 is required so that we can complete the rest of the project which includes completion of the Digital Memorial and an endowment fund which will ensure the maintenance of the Memorial in perpetuity.
DESIGN AND BUILD
Construction began on site in June 2020, with completion in May 2021, and dedication of the Memorial in July 2021.
DIGITAL
Development of the Digital Memorial has been put on hold due to lack of budget and the need to focus on physical build at the NMA.
This element of the Memorial is a multi-media hub which is currently very much at a developmental stage and has vast scope for further development. Working in partnership with the Police Roll of Honour Trust, the Digital Memorial commemorates over 4,000 fallen members of the police service. Data can be searched by name, date, force and rank; an 'on this day' feature which lists the names of those who have fallen on the anniversary of their death, along with a brief citation; and historical information about incidents in policing over the years.
It also features a number of enhanced profiles of fallen officers which tell the human stories of those behind the badge. As funding becomes available, the Trust aims to develop more of these enhanced profiles.
Funding is also needed so that we can create an education programme to highlight the history of the police service, focusing on the vital role it plays in modern society and develop an education hub to provide informed learning for students and to support teaching professional in the delivery of key milestone within the National Curriculum and a broader education framework.
The Digital Memorial was launched in partnership with Twitter in December 2019 and can be seen at http://digital.ukpolicememorial.org/).
FINANCIAL REVIEW
Principal funding sources
Principal funding to date has been secured through philanthropic donations from the majority of the UK's police forces, private donors, corporate partners and Government. The trustees would like to express their gratitude to all who have supported the Memorial project and to all those who are considering their support.
Page 3
The Police Arboretum Memorial Trust (Registered number: 08961292)
Report of the Trustees for the Year Ended 31 December 2021
FINANCIAL REVIEW
Reserves policy
Reserves are reviewed at each meeting of the Project Committee, Development Committee and of the Board of Trustees. Cashflow is closely monitored, and all activities will be reviewed, should the level of reserves fall below the amount required to operate the Trust for a period of three months.
The surplus of income over expenditure for the period is £ (£26,698) which is as expected, given that construction of the Memorial was completed in the year. Unrestricted free reserves are £121,536, which will contribute to second and final phase of the Memorial project.
While the Trust aims to function within its operating budget, meeting short-term expenditure and liabilities, this reserves level is within anticipated levels, with the first phase of the project having been delivered during the year.
FUTURE PLANS
The Trust has achieved the first phase of its vision to create a fitting tribute to policing at the National Memorial Arboretum. It is now focusing on completing the project which will include completion of the Digital Memorial and education programme, and creating an endowment fund to ensure the maintenance of the Memorial in perpetuity.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The governing document is its Articles of Association.
Charity constitution
The Police Arboretum Memorial Trust is a charity, incorporated under the Companies Act 2006 as a company, limited by guarantee, with its registered office in England & Wales and registered with the Commission in January 2015.
Recruitment and appointment of new trustees
There are currently fourteen trustees, all of whom have been recruited as individuals by virtue of their roles as police family stakeholders who are committed to ensuring that a new and fitting memorial to UK policing is realised.
All trustees are appointed by ordinary resolution at Ordinary General Meetings.
Induction and training of new trustees
Trustees are inducted to the charity individually by the Chairman and the management team. In addition, all new trustees receive a copy of the Trust's Articles of Association and a summary of trustee responsibilities published by the Charity Commission.
Page 4
The Police Arboretum Memorial Trust (Registered number: 08961292)
Report of the Trustees for the Year Ended 31 December 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure and decision making
The Board of trustees during the year were as follows:
Sir Hugh Orde OBE QPM (retired 21/09/2021 Stephen Mann Sir Paul Scott-Lee QPM DL Michael Foster QPM Jane Sawyers QPM DL Mark Lindsay MBE Gareth Morgan (retired 15/06/2021) Martyn Underhill Giles York QPM Paul Griffiths OBE Martin Hewitt QPM (Chair) John Partington Rachel Swann QPM (appointed 21/09/2021) Christopher Rowley (appointed 21/09/2021) Martin Jelley (appointed 21/09/2021) Marc Jones (appointed 13/12/2021)
They continue to meet quarterly.
The Project Committee, which was formed by Trustees to oversee the construction of the Memorial, continued to meet until the first phase of the project was delivered. The Project Committee was replaced by a Development Committee whose focus is to oversee fundraising and delivery of the second phase of the project. As for the Project Committee, all decisions by the Development Committee are ratified by the full Board at trustees' meetings.
A Dedication Sub-Committee was formed specifically to oversee arrangements for the Dedication in July 2018. This Sub-Committee disbanded once the event was delivered.
The trustees are supported in day-to-day operational matters and project management by a small management team. Management is subcontracted to Morgen Thomas Ltd, a specialist third sector advisory and fundraising organisation whose associates abide by the Chartered Institute of Fundraising Member Code of Conduct. Additional professional services such as communications and digital development, are commissioned as and when needed. The management fee is agreed by trustees, as is requisite spend for additional services.
The performance of Morgen Thomas Ltd is monitored through reporting at trustee Board and Project Committee meetings.
The contract with Morgen Thomas Ltd has been extended to June 2022 to deliver funding for the second phase of the project and project management. This will be reviewed in June 2022, when the trustees review the future direction of the Trust, the level of management support it will require and options for delivering that support.
Neither the trustees nor any of the Sub-Committee volunteers receive remuneration, nor do they charge expenses.
During 2021, the Board's key areas of focus have been to:
-
Ensure funds to design, build and maintain a new UK Police Memorial are in place; Consult with police 'family' stakeholders to ensure that commemoration protocols are appropriate and
-
- comprehensive;
-
Progress digital and online opportunities for commemoration;
-
Progress construction plans;
Page 5
The Police Arboretum Memorial Trust (Registered number: 08961292)
Report of the Trustees for the Year Ended 31 December 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The following systems have been put in place specifically to manage risk:
-
Risks, Assumptions, Issues and Dependencies log which is maintained by the management team and reviewed regularly both by the Project Committee and the Board;
-
Project spend forecasts which are reviewed regularly by the Project Committee and the Board;
-
Cashflow forecast, also reviewed regularly by the Project Committee and the Board;
-
Decision by the Board to phase build to ensure that costs do not exceed secured funds
-
Accounting systems manual which sets out accounting processes;
-
Spot checks on accounting records administration by the charity's auditors.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08961292 (England and Wales)
Registered Charity number
1159831
Registered office
c/o NPCC First Floor 10 Victoria Street London SW1H 0NN
Trustees
The full list of trustees serving during the period is given in the organisational structure section of this report.
Auditors
Locke Williams Associates LLP Chartered Accountants Registered Auditors c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of The Police Arboretum Memorial Trust for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Page 6
The Police Arboretum Memorial Trust (Registered number: 08961292)
Report of the Trustees for the Year Ended 31 December 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Locke Williams Associates LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 6 June 2022 and signed on its behalf by:
Martin Hewitt QPM - Trustee
Page 7
Report of the Independent Auditors to the Members of The Police Arboretum Memorial Trust (Registered number: 08961292)
Opinion
We have audited the financial statements of The Police Arboretum Memorial Trust (the 'charitable company') for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 December 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 13 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 8
Report of the Independent Auditors to the Members of The Police Arboretum Memorial Trust (Registered number: 08961292)
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We planned our audit to gain an understanding of the legal and regulatory framework applicable to the charitable company and the sector in which it operates, and during the audit considered the risk of acts by the charitable company that were contrary to applicable laws and regulations, including fraud. We designed our detailed audit procedures in response to those risks, whilst recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We concentrated on those laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, and the Charities SORP (FRS 102). Our audit tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management and with third parties, where relevant. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud.
As in all our audits, we also addressed the risk of management override of internal controls and evaluating whether there was evidence of bias by the management or trustees that represented a risk of material misstatement due to fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 9
Report of the Independent Auditors to the Members of The Police Arboretum Memorial Trust (Registered number: 08961292)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
David Williams (Senior Statutory Auditor) for and on behalf of Locke Williams Associates LLP Chartered Accountants Registered Auditors c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL
6 June 2022
Page 10
The Police Arboretum Memorial Trust
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 3 Design and construction incl online Total EXPENDITURE ON Charitable activities 4 Management Operations and fundraising Design and construction incl online Memorial maintenance Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.12.21 Unrestricted fund £ 196,625 414,930 611,555 158,482 285,679 134,582 6,114 584,857 26,698 94,837 121,535 |
31.12.20 Total funds £ 1,361,115 - 1,361,115 165,600 76,221 1,529,625 - 1,771,446 (410,331) 505,168 94,837 |
|---|---|---|
The notes form part of these financial statements
Page 11
The Police Arboretum Memorial Trust (Registered number: 08961292)
Balance Sheet 31 December 2021
| 31.12.21 Unrestricted fund Notes £ CURRENT ASSETS Debtors 9 - Cash at bank and in hand 150,116 150,116 CREDITORS Amounts falling due within one year 10 (28,581) NET CURRENT ASSETS 121,535 TOTAL ASSETS LESS CURRENT LIABILITIES 121,535 NET ASSETS/(LIABILITIES) 121,535 FUNDS 11 Unrestricted funds 121,535 TOTAL FUNDS 121,535 |
31.12.20 Total funds £ 95,823 109,793 205,616 (110,779) 94,837 94,837 94,837 94,837 94,837 |
|---|---|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 6 June 2022 and were signed on its behalf by:
Stephen Mann - Trustee
The notes form part of these financial statements
Page 12
The Police Arboretum Memorial Trust
Cash Flow Statement for the Year Ended 31 December 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.12.21 £ 40,323 40,323 40,323 109,793 150,116 |
31.12.20 £ (415,843) (415,843) (415,843) 525,636 109,793 |
|---|---|---|
The notes form part of these financial statements
Page 13
The Police Arboretum Memorial Trust
Notes to the Cash Flow Statement for the Year Ended 31 December 2021
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash provided by/(used in) operations |
31.12.21 £ 26,698 95,823 (82,198) 40,323 |
31.12.20 £ (410,331) (92,230) 86,718 (415,843) |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.21 | Cash flow | At 31.12.21 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 109,793 | 40,323 | 150,116 |
| 109,793 | 40,323 | 150,116 | |
| Total | 109,793 | 40,323 | 150,116 |
The notes form part of these financial statements
Page 14
The Police Arboretum Memorial Trust
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Grant income is recognised when there is: 1) entitlement to the grant, 2) virtual certainty that it will be received and 3) sufficient measurability of the amount. Where amounts so recognised are actually received after the balance sheet date, these are shown in the balance sheet as assets.
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.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Allocation and apportionment of costs
All costs, other than Governance costs, are incurred directly in support of expenditure on the objects of the charity and include:
| Management | Costs of overall project management and fundraising management |
|---|---|
| Design and construction | Costs relating to the design, planning and construction of both the |
| (including online) | physical and digital memorials |
| Operations and | Costs incurred in support of the above activities, including advertising |
| fundraising | and branding and other general overhead costs. |
All costs associated with the overall project management and design and construction of the memorial are expended through the Statement of Financial Activities, as the charity will not 'have ownership' of the memorial asset once constructed.
Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Page 15
The Police Arboretum Memorial Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
At this time, the charity has only received funds in furtherance of its one charitable activity and so total funds are therefore unrestricted funds.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|
| Donations Gift aid Grants Grants received, included in the above, are as follows: Department for Culture Media & Sport - Memorials Grant Scheme The Gerald and Gail Ronson Family Foundation |
31.12.21 £ 180,435 148 16,042 196,625 31.12.21 £ 16,042 - 16,042 |
31.12.20 £ 805,218 2,274 553,623 |
||
| 1,361,115 | ||||
| 31.12.20 £ 253,623 300,000 |
||||
| 553,623 |
Page 16
The Police Arboretum Memorial Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
3. INCOME FROM CHARITABLE ACTIVITIES
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Activity | £ | £ | |
| Sponsorship | Design and construction incl online | 414,930 | - |
4. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |
|---|---|
| Support | |
| costs (see | |
| note 5) | |
| £ | |
| Management | 158,482 |
| Operations and fundraising | 285,679 |
| Design and construction incl online | 134,582 |
| Memorial maintenance | 6,114 |
| 584,857 |
5. SUPPORT COSTS
| Design and construction incl Management online £ £ Management 158,482 - Operations and fundraising - - Design and construction incl online - 134,582 Memorial maintenance - 6,114 158,482 140,696 |
Operations and Governance fundraising costs £ £ - - 283,519 2,160 - - - - 283,519 2,160 |
Totals £ 158,482 285,679 134,582 6,114 |
|---|---|---|
| 584,857 |
Support costs, included in the above, are as follows:
| Trust & project management fees Design and construction fees Online costs Memorial maintenance costs Postage and direct marketing Travel Membership and insurance Accountancy and legal compliance Events and hospitality Branding design fees Sundries Bank charges Carried forward |
Management £ 158,482 - - - - - - - - - - - 158,482 |
Operations and fundraising £ - - - - 1,034 1,988 7,218 259 4,586 46,051 6,324 - 67,460 |
Design and construction incl online £ - 134,582 - - - - - - - - - - 134,582 |
|---|---|---|---|
Page 17
The Police Arboretum Memorial Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
5. SUPPORT COSTS - continued
| Management £ Brought forward 158,482 Dedication costs - Auditors' remuneration - 158,482 Memorial maintenance £ Trust & project management fees - Design and construction fees - Online costs - Memorial maintenance costs 6,114 Postage and direct marketing - Travel - Membership and insurance - Accountancy and legal compliance - Events and hospitality - Branding design fees - Sundries - Bank charges - Dedication costs - Auditors' remuneration - 6,114 6. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Auditors' remuneration |
Operations and fundraising £ 67,460 216,059 2,160 285,679 31.12.21 Total activities £ 158,482 134,582 - 6,114 1,034 1,988 7,218 259 4,586 46,051 6,324 - 216,059 2,160 584,857 31.12.21 £ 2,160 |
Design and construction incl online £ 134,582 - - 134,582 31.12.20 Total activities £ 165,600 1,523,791 5,834 - 958 3,680 473 200 846 51,744 5,931 149 10,080 2,160 1,771,446 31.12.20 £ 2,160 |
|---|---|---|
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Page 18
The Police Arboretum Memorial Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Management Operations and fundraising Design and construction incl online Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accruals and deferred income |
31.12.21 £ - 31.12.21 £ 26,162 - 2,419 28,581 |
Unrestricted fund £ 1,361,115 165,600 76,221 1,529,625 1,771,446 (410,331) 505,168 94,837 31.12.20 £ 95,823 31.12.20 £ 108,355 80 2,344 110,779 |
|---|---|---|
Page 19
The Police Arboretum Memorial Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
11. MOVEMENT IN FUNDS
| At 1.1.21 £ Unrestricted funds General fund 94,837 TOTAL FUNDS 94,837 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 611,555 TOTAL FUNDS 611,555 Comparatives for movement in funds At 1.1.20 £ Unrestricted funds General fund 505,168 TOTAL FUNDS 505,168 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 1,361,115 TOTAL FUNDS 1,361,115 |
Net movement in funds £ 26,698 26,698 Resources expended £ (584,857) (584,857) Net movement in funds £ (410,331) (410,331) Resources expended £ (1,771,446) (1,771,446) |
At 31.12.21 £ 121,535 121,535 Movement in funds £ 26,698 26,698 At 31.12.20 £ 94,837 94,837 Movement in funds £ (410,331) (410,331) |
|---|---|---|
Page 20
The Police Arboretum Memorial Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
Page 21