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2025-09-30-accounts

Cha�i�� Regi���a��� N�� �������

C���a�� Regi���a��� N�� �������� �E�g�a�d a�d Wa�e��

BOURNEMOUTH WAR MEMORIAL HOMES

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED �� SEPTEMBER ����

Waverley House ���-��� Holdenhurst Road Bournemouth Dorset BH� �DY

BOURNEMOUTH WAR MEMORIAL HOMES

CONTENTS

Page
Company informaton �
Trustees' report � - �
Statement of Trustees' responsibilites �
Independent auditor's report � - ��
Statement of fnancial actvites ��
Balance sheet ��
Statement of cash fows ��
Notes to the fnancial statements �� - ��

BOURNEMOUTH WAR MEMORIAL HOMES

COMPANY INFORMATION

T����ee� Air Commodore R Cobelli OBE RAF (Ret'd) Mr. G Long Mrs. S Round Mr. M Powell Mr. P Matthews Ms. N J Burman Cha�i�� ���be� ������� C���a�� ���be� �������� Regi��e�ed �ffice ��a Woodsford Green Castle Lane West Bournemouth Dorset BH� �TP A�di��� TC Group Waverley House ���-��� Holdenhurst Road Bournemouth Dorset BH� �DY

BOURNEMOUTH WAR MEMORIAL HOMES

TRUSTEES� REPORT �INCLUDING DIRECTORS� REPORT�

FOR THE YEAR ENDED �0 SEPTEMBER �0��

The Trustees present their report and accounts for the year ended �� September ����.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act ���� and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS��� the Financial Reporting Standard applicable in the UK and Republic of Ireland.

Objec��e� a�d ac��i�e�

The Bournemouth War Memorial Homes charity was founded soon after the ���� - ���� war, through the creation of a Trust Deed, which governed the running of the homes. On �� January ���� a new limited company (Company No ��������) was incorporated to take over the old unincorporated charitable trust. The new company was formally registered with the Charity Commission on �th June ���� (Registered No �������) and all of the assets were transferred across on �st October ����.

The Homes comprise fifty-three individual properties in Castle Lane West and Jewell Road, one home in Ibbertson Road and five purpose-built properties in Poppy Lane - a total of �� properties, all in Bournemouth. These are provided at a subsidised differential rent, dependent on the property type, to former service personnel of the Armed Forces of the Crown and former members of the Merchant Navy and their dependents who are in need or vulnerable by reason of their physical or mental health, social or economic circumstances with preference given to those who reside or have resided in the Borough of Bournemouth.

The Trustees' objective is to run the Homes in an efficient way and to maintain the high standards of accommodation for the benefit of its residents. At the same time, the Trustees are very conscious of the estate's management and maintenance expenditure and seek to keep these costs well under control.

The estate manager (Tracy Poole) is responsible to the Trustees for the management of the Homes. Tracy and her team oversee the estate on a day-to-day basis and have regular meetings with the Trustees and residents to deal with any matters arising. Services provided to the residents include the:

In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit and confirm they have complied with the duty in Section � of the Charity Act ����.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achie�e�e��� a�d �e�f���a�ce

Rents are reviewed annually & are linked to the estimated commercial rents for similar properties in the vicinity before applying a discount. All rents are discounted by at least ��� with a higher level of discount for elderly residents. In addition, the Trustees make grants in cases of hardship.

BOURNEMOUTH WAR MEMORIAL HOMES

TRUSTEES� REPORT �CONTINUED��INCLUDING DIRECTORS� REPORT�

FOR THE YEAR ENDED �0 SEPTEMBER �0��

In this financial year, a number of our older properties have been refurbished, as they became vacant. These required a complete updating of the electrical and heating/hot water systems, along with replacementkitchens � bathrooms, redecoration, and replacement of carpets.

General improvements to the Homes have continued with kitchens, bathrooms and old and inefficient boilers being replaced, as necessary. When a property becomes vacant, it is refurbished and redecorated prior to the arrival of the new tenant.

The Trustees are looking for other opportunities to expand the number of properties available to help alleviate our waiting list.

Plan� fo� �he f����e

As mentioned last year, planning permission had been granted for the redevelopment of redundant garages into purpose-built accommodation. The building work has commenced and is well underway. We expect to welcome our residents to these four new properties in the summer of ����. This is a substantial project, and we are delighted that The Armed Forces Covenant Fund Trust is assisting with the funding, and they have agreed to contribute ����,��� to this project. We are extremely grateful for their help with this project. More on this can be found on https://bwmh.org.uk/news/.

We have also made applications to other organisations to assist with the funding of this project and are currently waiting to hear if our requests have been successful.

If the opportunity to acquire or construct new properties becomes available, then such projects will be robustly assessed and undertaken if they fit with the overall objectives of the charity.

Financial �e�ie�

The trustees endeavour to retain sufficient reserves to meet future repair and other expenditure as required. Funds are also retained for the acquisition or construction of additional properties.

Surplus funds are invested or held on deposit. Brooks Macdonald manage our investments alongside CCLA Investment Management Limited. At the year end, the investments were valued at ����,��� (Note ��).

Following the appointment of Brooks Macdonald, the Trustees have agreed an Investment Policy. Our investment objectives are to produce the best financial returns within an acceptable level of risk. Income from our investments is not crucial to our activities and on this basis we are looking to maximise capital growth. Investments that conflict with our objectives will be excluded.

The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

BOURNEMOUTH WAR MEMORIAL HOMES

TRUSTEES� REPORT �CONTINUED��INCLUDING DIRECTORS� REPORT�

FOR THE YEAR ENDED �0 SEPTEMBER �0��

At the end of the year unrestricted reserves amounted to ��,���,��� (���� - ��,���,���) and restricted reserves amounted to �nil (���� - ��,���). Included in the unrestricted reserves at the year end is a fair value reserve of ����,��� (���� - ����,���). This fair value reserve represents the unrealised profits held in the investment portfolio.

The charity is reporting a surplus of ����,��� for the year (prior year: ����,���). The increase in reported surplus is primarily due to the receipt of a significant grant from the Armed Forces Covenant Fund, awarded to support the Poppy Lane � development.

During the year, the charity recognised grant income from the Armed Forces Covenant Fund of ����,���, in accordance with FRS ��� Section �A and the Charities SORP. The grant was fully utilised to fund additions to land and buildings. As capital expenditure is not expensed through the Statement of Financial Activities, this results in an increase in reported surplus for the year without a corresponding charge to expenditure.

This impact on the surplus reflects the accounting treatment of capital grants rather than an underlying increase in unrestricted operating income or reduction in operating costs.

The board is committed to maintaining a reserve holding of ����,���at all times with any surplus being available for project and enhancement works. The current reserves are considered to be sufficient.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

S���c���e� go�e�nance and managemen�

The charity is a company limited by guarantee and registered with the Charity Commission in June ���� and is therefore subject to the provisions of the Charities Acts.

The Trustees, who are also the directors for the purpose of company law, and who served during the year were:

Air Commodore R Cobelli OBE RAF(Ret�d) Mr. G Long Mrs. S Round Mr. M Powell Mr. P Matthews Ms. N J Burman

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute �� in the event of a winding up.

BOURNEMOUTH WAR MEMORIAL HOMES TRUSTEES, REPORT ICONTINUEDIIINCLUDING DIREcfoRS' REPORTI FOR THE YEAR ENDED 30 SEPTEMBER 2025 The charity's governing documenl is bts Articles of Association, which w35 approved by Special Resolution dated 30 April 2015. There must be at least three trustees. Tfilstees. who are also the direclws lor the purpose of company law, are appointed by ordinary resolution of the trustees and one-thiid of the trustees must retire at each annual general meeting. In selecting individuals for appointment as trustees, the trustees aTe tnindful of the skills, knowledge and experience needed for the effective administration of the tharity. When the Trustees consider there is a shortfall in the skills, knowledge and experience of existing trustees, they endeavour to recruit new trustees who can lill those gaps. Details of vacancies will be circu13ted to groups with connections to the Homes. Potential new tru5tee5 will be intefvtewed by the existing Trustees and Estaie Manager. On acceptance of their appointment, new trustees will be required to undertake a pertod of induction with the existing trustees and estate manager. to fully understand the objectives and wortin8s of the Charity. Decisions are made by the trustees. and the day-to-day administration K% delegated to the estate manager. We are members of the Confederation of Service Charities Icobseol. Cobseo represents the whole S￿ving and Veterans Community and adheience to their feEulations is a condition of membership. Audltor In accordance with the companvs articles, a resolution proposing that TC Group be reappoirnted as auditoi of the company will be put at a General Meeting. Dlsclosure of Snformation to auditor Each of the Trustees has confirmod that there 15 no infoFrrbahon of whKh they ace aware wh.ch Is relevant to the audit, bui of which the auditor is unaware. They have further confirmed that they have taken apwopriate steps to identify such relevant infoitnation and to establish that the auditor are aware of such information. The Trustees, report was approved by the Boaid of Trustees. ommodore R Cobelli OBE RAFIRet'dl Trustee

BOURNEMOUTH WAR MEMORIAL HOMES

STATEMENT OF TRUSTEES� RESPONSIBILITIES

FOR THE YEAR ENDED �0 SEPTEMBER �0��

The Trustees, who are also the directors of Bournemouth War Memorial Homes for the purpose of company law, are responsible for preparing the Trustees� 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act ����. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BOURNEMOUTH WAR MEMORIAL HOMES

INDEPENDENT AUDITOR�S REPORT

TO THE TRUSTEES OF BOURNEMOUTH WAR MEMORIAL HOMES

O�i�i��

We have audited the financial statements of Bournemouth War Memorial Homes (the ‘charity’) for the year ended �0 September 202� which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 T�e F��a�c�a� Re������ S�a�da�d a����cab�e �� ��e UK a�d Re��b��c �f I�e�a�d (United Kingdom Generally Accepted Accounting Practice).

Ba�i� f�� ��i�i��

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 A�d������ �e������b����e� f�� ��e a�d�� �f ��e fi�a�c�a� ��a�e�e��� section of our report. We are independent of the charity 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 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.

C��cl��i��� �ela��g �� g�i�g c��ce��

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.

O�he� i�f��ma���

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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.

BOURNEMOUTH WAR MEMORIAL HOMES

INDEPENDENT AUDITOR�S REPORT �CONTINUED�

TO THE TRUSTEES OF BOURNEMOUTH WAR MEMORIAL HOMES

Ma�e�� �� �hich �e a�e �e��i�ed �� �e���� b� e�ce����

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 200� require us to report to you if, in our opinion:

Re�����ibili�e� �f T����ee�

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose 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 charity’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.

A�di����� �e�����ibili�e� f�� �he a�di� �f �he fi�a�cial ��a�eme���

We have been appointed as auditor under section 1�� of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 an auditor's report 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

BOURNEMOUTH WAR MEMORIAL HOMES

INDEPENDENT AUDITOR�S REPORT �CONTINUED�

TO THE TRUSTEES OF BOURNEMOUTH WAR MEMORIAL HOMES

E��e�� �� �hich �he a�di� �a� c���ide�ed ca�able �f de�ec��g i��eg�la�i�e�� i�cl�di�g f�a�d

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. These include Health and Safety, Employment Law and Licencing. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

BOIIftNFMOUTH WAR MEMORIAL HOMES INLIEVtNUENT AUDITOR'S REPORT ICONTINUEDI TO I HE TRUSTEES OF BOiIRNEMOUTH WAR MEMORIAI HOMF% Use ol our report This report l j mlidp members, as a boty, In )ccord3nce with Chapter 3 of Part 16 1)f Ilie Cuiiip3111es Act 2U(K>. Uur audit work has been undertèken 50 that we miRhi fitatr tn thi. (-.hLirildblL' company's members those matters we are reouired to 3taie to them in Jib audilors, report and for no dher purpose To tho fullost extent pprrnittpd hy l.Iw, wp iiul dLLVPi or 355￿￿e responsibiliiy to anvone other than Ihv rli.Iril.41Ilp LiJIIIVAllV'S i11￿111￿¥15 d5 d bijdy. loi ouc audit work. for this rep(>rt. or for thp npininn". formed. Lucy Fller FCA Isenlor Siatutory Audilorl for and on behalf of TC Group St•tytory Auditor Uato... 2710512028 TC GroLlP 15 è118ible fnr xppnlnrmoni a% Fl11rtiirii til Ilip ( IIAiily by virtue of rt5 diffibility for appointment a5 auditor ul IJ LUfiiPJlly uiider of sectron 1212 01 tht Companies Act 2￿16 10-

BOURNEMOUTH WAR MEMORIAL HOMES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED �0 SEPTEMBER �0��

U��e����c�ed
f��d�
����
N��e�
�
I�c��e a�d e�d���e��� f����
Donatons and legacies
�
2�,�23
Charitable actvites
�
4�1,�03
Investments
�
2�,�10
Other income
�
-
T��a� ��c��e
�4�,23�
E��e�d����e ���
�
Charitable actvites
2��,�41
T��a� e��e�d����e
2��,�41
Net gains/(losses) on
investments
��
2�,���
Ne� ��c��e
30�,1�4
Transfers between
funds
2��,00�
Ne� ���e�e�� ��
f��d�
��
��3,201
Rec��c���a��� �f f��d��
Fund balances at 1 October
2024
�,2��,���
F��d ba�a�ce� a� ��
Se��e�be� ����
�,�31,0�0		 Re����c�ed
f��d�
����
�
2�4,2��
-
-
-
2�4,2��
3,1��
3,1��
-
2�1,0��
(2��,00�)
(�,�1�)
�,�1�
-		 T��a�
U��e����c�ed
f��d�
����
����
�
�
2�2,0�0
2,41�
4�1,�03
4�2,��3
2�,�10
24,1��
-
1,43�
�10,�03
4�0,���
2��,�20
33�,24�
2��,�20
33�,24�
2�,���
��,443
���,2�2
231,��3
-
32,2�0
���,2�2
2�4,243
�,2�3,���
4,��3,�2�
�,�31,0�0
�,2��,���		 Re����c�ed
f��d�
����
�
3�,000
-
-
-
3�,000
-
-
-
3�,000
(32,2�0)
2,�40
3,1��
�,�1�		 T��a�
����
�
3�,41�
4�2,��3
24,1��
1,43�
�2�,���
33�,24�
33�,24�
��,443
2��,��3
-
2��,��3
4,���,�0�
�,2�3,���

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BOURNEMOUTH WAR MEMORIAL HOMES BALANCE SHEET AS AT305EPTEMBER2025 2025 2024 Notes Fixed assets Tangible assets Investments 17 16 4.752.151 828.426 4.229.263 794.300 5.580.577 5.023,563 Current assets Debtors Cash at bank and in harbd 18 64.029 279.262 32,298 221.165 343.291 253,463 Credltors.. amounts falline due wlthln one year 19 192.7981 113,2381 Nel current assets 250.493 240,225 Total assets less current Ilablllties 5.831.070 5.263.788 The funds of the charity Restricted funds Unrestricted funds Unrestricted- fair value reserve 20 5,919 5,128,348 129,521 5.674,849 156,221 5,831.070 5.263.788 The compèny is entitled tcTr the exemption from the audit requirement contained in section 477 of the Cornpanies Act 2006, for the year ended 30 September 2025. although an Budit has been carried out under section 144 01 the Charities Act 2011. The clirectOT5 acknowledge their responsibtlities for complwng with the requirements of the Companies Act 20C6 with respect to accounting records and the preparation of h"nancial statements. These financial statements have been prepared in accordance with the provi5ion5 applicable to ctsmpanies Subject to the small companies regime. The financial statements were approved by the Trustees on- Air Commodore R Cobelli OBE RAFIRet'dl Trustee Company re8lStration number 08867218 (England and Wale51 12

BOURNEMOUTH WAR MEMORIAL HOMES

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED �0 SEPTEMBER �0��

����
N��e�
�
�
Ca�h f��� f��� ��e�a��g ac����e�
Cash generated from operatons
��2,�1�
I��e���g ac����e�
Purchase of tangible fxed assets
(�23,�04)
Purchase of investments
(�,42�)
Investment income received
2�,�10
Ne� ca�h ��ed �� ���e���g ac����e�
(�04,421)
Ne� ca�h ��ed �� f�a�c��g ac����e�
-
Ne� ��c�ea�e �� ca�h a�d ca�h e����a�e���
��,0��
Cash and cash equivalents at beginning of year
221,1��
Ca�h a�d ca�h e����a�e��� a� e�d �f �ea�
2��,2�2		 ����
�
(32,2�0)
(�,��1)
24,1��		 �
14�,0�1
(1�,��4)
-
12�,43�
�1,�2�
221,1��

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED �0 SEPTEMBER �0��

� Acc�����g ����c�e�

Cha���� ��f���a���

Bournemouth War Memorial Homes is a private company limited by guarantee incorporated in England and Wales. The registered office is 12a Woodsford Green, Castle Lane West, Bournemouth, Dorset, BH� �TP.

��� Acc�����g c���e����

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 201�, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 200� and UK Generally Accepted Accounting Practice.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

The accounts have been prepared under the historical cost convention modified to include the revaluation of certain financial instruments.

��� G���g c��ce��

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

��� Cha���ab�e f��d�

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Where the charity purchases an asset utilising restricted funds but the asset is held for a general purpose, a transfer will be used to release the cost from restricted funds to unrestricted funds upon purchase as the restriction is deemed to be fulfilled.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

The fair value reserve represents the total unrealised gains at the balance sheet date from the charities investment portfolio.

��� I�c��e

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS �CONTINUED�

FOR THE YEAR ENDED �� SEPTEMBER ����

� Acc��n�ng ��licie�

�C�n�n�ed�

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. hhe value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Income from investments is included in the year in which it is receivable.

��� E��endi���e

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAh which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Support costs are those costs incurred direct in support of expenditure on the objects of the charity and included project management.

��� Tangible fi�ed a��e��

hangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

hangible fixed assets are initially measured at cost, or valuation (deemed cost) in the case of tangible fixed assets gifted to the charity, and are subsequently stated net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost of assets less their residual values over their useful economic lives. In respect of the freehold property, it is the charity's practice to maintain the property in a continual state of sound repair and to make improvements from time to time. Accordingly, the trustees consider that the useful economic life of the freehold property is so long, and the residual value so high, that depreciation is insignificant to the financial statements.

Land and buildings Not depreciated
Fixtures, ftngs & equipment 20� Straight Line
Computers 20� Straight Line

hhe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS �CONTINUED�

FOR THE YEAR ENDED �� SEPTEMBER ����

� Acc��n�ng ��licie�

�C�n�n�ed�

����Em�l��ee benefi��

hhe cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

hermination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

����Re��emen� benefi��

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

���� Limi�ed b� g�a�an�ee

hhe charity in limited by guarantee and therefore has no share capital.

� C�i�cal acc��n�ng e��ma�e� and j�dgemen��

In the application of the charity’s accounting policies, the hrustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. hhe estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

hhe estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

hhe key assumptions and other sources of estimation uncertainty that have significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are as follows:

hhe annual depreciation charge is considered with reference to the estimated useful economic lives and residual value of the assets. hhe useful economic lives and residual values are re-assessed annually.

Welfare grants are assessed on a case by case basis and authorised by hrustees, see note �.

hhere were no other key sources of estimation uncertainty.

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS �CONTINUED�

FOR THE YEAR ENDED �� SEPTEMBER ����

� Acc��n�ng ��licie�

�C�n�n�ed�

��� Fi�ed a��e� in�e��men��

Investments held within fixed assets represent the charity's portfolio of managed investment funds. hhey are stated at fair value within the financial statements, calculated with reference to the mid-market value of the investment at the balance sheet date. All gains and losses are taken to the Statement of Financial Activities.

��� Im�ai�men� �f fi�ed a��e��

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

��� Ca�h and ca�h e��i�alen��

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

����Financial in����men��

hhe 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 in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when 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.

Ba��� ��a���a� a�����

Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised.

Ba��� ��a���a� ��a�������

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

hrade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. hrade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS �CONTINUED�

FOR THE YEAR ENDED �� SEPTEMBER ����

� D�na��n� and legacie�

Un�e���ic�ed Re���ic�ed T��al hotal
f�nd� f�nd�
���� ���� ���� 202�
� � � £
Donatons and gifs 2�,�2� 2��,2�� 2�2,0�0 ��,�1�

� Cha�i�able ac��i�e� ��n�e���ic�ed

Rents due from tenants and garages
Grants awarded to tenants		 ����
�
�2�,�1�
(��,11�)
��1,�0�		 ����
�
�0�,1��
(�2,���)
��2,���

Income of rents from tenants and garages as shown above is wholly attributable to unrestricted funds.

Rents are reviewed annually and are linked to the estimated commercial rents for similar properties in the vicinity before applying a discount. All rents are discounted by at least �0� with a higher level ofdiscount for elderly residents. hhese discounts are included in the £���,1�� income shown above. hotal rental income excluding discounts is £�2�,1��.

Grants awarded to tenants, are further discounts of rent and are provided to certain tenants who are in need of additional financial support, typically on a short-term basis. hhe grants awarded to tenants are approved by the trustees and the conditions of each award are regularly reviewed. hhe discount is recognised in the financial statements as a deduction from the related rental income, in the period the trustees approve the grant.

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS �CONTINUED�

FOR THE YEAR ENDED �0 SEPTEMBER �0��

� In�e��men��

Un�e���ic�ed Total
f�nd�
���� 202�
� £
Investment interest and dividends 2�,�10 2�,1��

Investment income as shown above is wholly attributable to unrestricted funds.

� S���l��

The charity is reporting a surplus of £���,2�2 for the year (prior year: £2��,��3). The increase in reported surplus is primarily due to the receipt of a significant grant from the Armed Forces Covenant Fund, awarded to support the Poppy Lane 2 development.

During the year, the charity recognised grant income from the Armed Forces Covenant Fund of £2��,2��, in accordance with FRS 102 Section 1A and the Charities SORP. The grant was fully utilised to fund additions to land and buildings. As capital expenditure is not expensed through the Statement of Financial Activities, this results in an increase in reported surplus for the year without a corresponding charge to expenditure.

This impact on the surplus reflects the accounting treatment of capital grants rather than an underlying increase in unrestricted operating income or reduction in operating costs.

� Co��� of cha�i�able ac��i�e� �b� ac��i��

Co��� of cha�i�able ac��i�e� �b� ac��i��
Ac��i�e�
�nde��aken S���o�� To�al
To�al
di�ec�l� co��� ���� ����
� � � �
Letng of homes to service veterans in need 1��,13� 102,��� 2��,�20 33�,2��

Included in activities undertaken directly are £3,1�� (202� - £nil) of costs attributable to restricted funds.

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS �CONTINUED�

FOR THE YEAR ENDED �0 SEPTEMBER �0��

� Ac��i�e� �nde��aken di�ec�l�

Council tax and water rates
Light and heat
Repairs and maintenance
Maintenance of grounds
Insurance
Cleaner's salary
Cleaning materials
Legal and professional
Telephone
Warden call system
Resident support costs
Bad debts
Special projects - 1� Memorial Homes fat conversion		 ����
�
�11
�,��1
��,�1�
33,��0
�,��2
�,���
2��
3��
3��
�,���
�0
1�,���
-
1��,13�		 ����
�
�2�
(1��)
1��,3�0
1�,�30
�,�23
�,�21
�3�
�,��1
2��
�,�1�
��
(��0)
�01
2�1,���

Included in activities undertaken directly are £3,1�� (202� - £nil) of costs attributable to restricted funds.

� O�he� income

Un�e���ic�ed Total
f�nd�
���� 202�
� £
Sundry income - 1,�3�

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS �CONTINUED�

FOR THE YEAR ENDED �0 SEPTEMBER �0��

�� S���o�� co���

��
S���o�� co���
Estate manager's salary
Wages and salaries
Employer's NI contributons
Staf pension costs
Printng, postage and statonery
Telephone and internet for ofce
General expenses
Trustee indemnity insurance
Accountancy
Depreciaton
Audit
Investment management charges
All support costs as shown above are wholly atributable to unrestricted funds.
��
Ne� mo�emen� in f�nd�
The net movement in funds is stated afer charging/(creditng):
Depreciaton of owned tangible fxed assets		 ����
�
�3,���
1�,0�3
1,�22
3,1��
1,���
1,3��
�,0��
1,�03
�,01�
�1�
3,�00
�,�2�
102,���
����
�
�1�		 ����
�
�1,�12
1�,�2�
1,��1
2,210
1,3��
1,001
2,0�2
1,��0
�,3�0
�1�
3,�00
�,���
��,���
����
�
�1�

�� T����ee�

None of the Trustees (or any persons connected with them) received any remuneration during the year.

No expenses have been reimbursed to the directors during the year.

�� Gain� and lo��e� on in�e��men��

Un�e���ic�ed Un�e���ic�ed
f�nd� f�nd�
���� ����
Gains/(losses) arising on: � �
Revaluaton of investments 2�,��� ��,��3

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS �CONTINUED�

FOR THE YEAR ENDED �0 SEPTEMBER �0��

�� Em�lo�ee�

The average monthly number of employees during the year was:

���� ����
N�mbe� N�mbe�
Estate manager 1 1
Resident manager 1 1
Cleaner 1 1
3 3
Em�lo�men� co��� ���� ����
� �
Wages and salaries ��,�0� �2,���
Social security costs 1,�22 1,��1
Staf pension costs 3,1�� 2,210
�0,�1� ��,32�

No employee received remuneration of greater than £�0,000 in the current or previous year.

Total remuneration of key management personnel during the year was £�3,��� (202�: £�1,�12) and employers pensions £3,1�� (202�: £2,210).

Pension contributions were paid to 2 (202�: 2) staff under a defined contribution scheme.

�� Ta�a�on

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED �0 SEPTEMBER �0��

16 Fixed asset investments

Unlisted
investments
£
Cost or valuaton
At 1 October 202� ���,300
Additons �,�2�
Valuaton changes 2�,���
At 30 September 202� �2�,�2�
Carrying amount
At 30 September 202� �2�,�2�
At 30 September 202� ���,300

At the 30 September 202� the charity held an investment portfolio comprising of £2��,�1� (202� - £�1�,��3) in equity securities, £21,���(202� - £�0,�0�) in structured return investments, £�2,�3�(202� - £12�,�03) in fixed interest investments, £1�,���(202� - £��,331) in hedge funds, £12,21� in property investments (202� - £1�,���) and £��2,��� (202� - £20,2�2) in cash deposits. These cash balances are managed by the charity’s investment managers as part of the overall investment strategy and are not held directly by the charity.

All fixed asset investments are held within the United Kingdom.

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED �0 SEPTEMBER �0��

17 Tangible fixed assets

Cost
At 1 October 202�
Additons
At 30 September 202�
Depreciaton and impairment
At 1 October 202�
Depreciaton charged in the year
At 30 September 202�
Carrying amount
At 30 September 202�
At 30 September 202�
18
Debtors
Amounts falling due within one year:
Amounts due from residents
Accrued income
19
Creditors: amounts falling due within one year
Other taxaton and social security
Trade creditors
Other creditors
Accruals and deferred income		 Land and
buildings
Fixtures,
ftngs &
equipment
Computers
£
£
£
�,22�,��2
2,1�1
2,3��
�23,�0�
-
-
�,��0,���
2,1�1
2,3��
-
1,30�
1,000
-
�3�
��0
-
1,���
1,��0
�,��0,���
�3�
�1�
�,22�,��2
��3
1,3��
2025
£
1�,02�
�0,000
��,02�
2025
£
1,1��
��,2�0
��0
11,�00
�2,���		 Total
£
�,231,��1
�23,�0�
�,���,3��
2,30�
�1�
3,22�
�,��2,1�1
�,22�,2�3
2024
£
32,2��
-
32,2��
2024
£
1,01�
�,032
���
�,�2�
13,23�

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED �0 SEPTEMBER �0��

20 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1
Queen Mary's Roehampton
Trust fund - boilers
Queen Mary's Roehampton
Trust fund - Poppy Lane 2
Armed Forces Covenant Fund -
Poppy Lane 2
Previous year:
At 1
Queen Mary's Roehampton
Trust fund - boilers
Queen Mary's Roehampton
Trust fund - Poppy Lane 2		 October
2024
Incoming
resources
Resources
expended
Transfers
At 30
September
2025
£
£
£
£
£
3,1��
-
(3,1��)
-
-
2,��0
-
-
(2,��0)
-
-
2��,2��
-
(2��,2��)
-
�,�1�
2��,2��
(3,1��)
(2��,00�)
-
October
2023
Incoming
resources
Resources
expended
Transfers
At 30
September
2024
£
£
£
£
£
3,1��
-
-
-
3,1��
-
3�,000
-
(32,2�0)
2,��0
3,1��
3�,000
-
(32,2�0)
�,�1�		 October
2024
Incoming
resources
Resources
expended
Transfers
At 30
September
2025
£
£
£
£
£
3,1��
-
(3,1��)
-
-
2,��0
-
-
(2,��0)
-
-
2��,2��
-
(2��,2��)
-
�,�1�
2��,2��
(3,1��)
(2��,00�)
-
October
2023
Incoming
resources
Resources
expended
Transfers
At 30
September
2024
£
£
£
£
£
3,1��
-
-
-
3,1��
-
3�,000
-
(32,2�0)
2,��0
3,1��
3�,000
-
(32,2�0)
�,�1�
�,�1�

BOURNEMOUTH WAR MEMORIAL HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED �0 SEPTEMBER �0��

20 Restricted funds

(Continued)

Queen Mary's Roehampton Trust fund - boilers

During the year ending 30 September 2023, grant income of £21,000 was recognised from the QMRT (Queen Mary's Roehampton Trust). The grant documentation states that these funds must be spent exclusively on the purpose of grant, which is to replace boilers in � of the properties, that are in excess of 2� years old.

Queen Mary's Roehampton Trust Fund - Poppy Lane 2 development

During the year ending 30 September 202�, grant income of £3�,000 was recognised from the QMRT (Queen Mary's Roehampton Trust). The grant documentation states that these funds must be spent exclusively on the purpose of grant, which is to contribute toward the building of four new bungalows on the Estate.

The Armed Forces Covenant Fund Trust - Poppy Lane 2 development

During the year ending 30 September 202�, grant income of £�00,000 was awarded from The Armed Forces Covenant Fund Trust. The grant documentation states that these funds must be spent exclusively on the purpose of grant, which is to contribute toward the building of four new bungalows on the Estate. Grant money has been recognised in line with the terms and conditions of the grant.

21 Analysis of net assets between funds

Unrestricted
2025
£
Fund balances at 30 September 202� are
represented by:
Tangible assets
�,��2,1�1
Investments
�2�,�2�
Current assets/(liabilites)
2�0,��3
�,�31,0�0		 Restricted
2025
£
-
-
-
-		 Total
2025
£
�,��2,1�1
�2�,�2�
2�0,��3
�,�31,0�0		 Total
202�
£
�,22�,2�3
���,300
2�0,22�
�,2�3,���

22 Capital commitments

At the year end, the charity was in the process of developing the property at 2 Poppy Lane. The charity had entered into contractual agreements for construction and development works relating to this project. As a result, the charity had capital commitments at the balance sheet date for costs that had been contractually agreed but not yet incurred. The total value of capital commitments outstanding at 30 September 202�was £��0,��� (202�: £nil). These commitments represent amounts due under construction and development contracts for work to be completed after the year end.

23 Related party transactions

There were no disclosable related party transactions during the year. During the prior year, legal services were provided by Genesis Solicitors, of which Natalie Burnman is a director. The sum of these services totalled £��2, and were deemed to be at normal market rate.