COMMONWFALTH WAR GRAVES FOUNDATION AINNU2IL REI)()RT r,OR THF. YF.AR F.NDF.D 31 LMARCH 2022 CHARJVI RF,.GJSTRATI(IN NLlIvIBF.R 1171(J47 COMMONWEALTH WAR GRAVES FOUNDATION Financial Statements for the year ended 31 Match 2022 Contents Page Reference and &idm]nistrative det￿lIS A messALre from our Chair Tru5rees' Repcjrt Trustcc8' Rc%ptinsibilitic% StAt¢m¢nt IAatpeAdtnt Auditor'5 rtport 9-12 FinanciAi %tatemtnt% 1_3-1_5 PrinapRI Accounting PoliciL5 16-18 otes to tht FinAnci21 Statements 19-27 COMMONWEALTH WAR GRAVES FOUNDATION Trustees Executives and Advisors for the year ended 31 March 2022 Trustees: Damc Judith Ilai,hciv Jonas DBF,. (Chair) Major General Alastair Bmce KStJ ()BE VR Lady Luc}. French OBF. {re5igmed 22nd August 2022) The kInn Kei'an Jr)nes TrIP Ire&ppr)inttd 6th September 20221 Sir,Idrian Alastait M()nt2£ue CBE Caprain Singh-sohal ITR Mr Terence Flewctt Ircsignea ?2nd ALigust 2022) It JuliAn (appointed 6th SeprtfflbLr 20221 Chief Executive: Clairc Horton CBr,. Executive Director: John Grain Registeted Office: 2 Marlnw Road. Trlaidtnhead. Berk%hire, SL() 7DX Bankers: HSBC, The BoulcNard, CrA￿,lL},, l¥.'e%t SU￿￿ex, RHIO IUT BNI) I}￿1b￿S Forus, Korte TorhoutstraAt 1, 8900 Ieper BNP Paribas, Ccntrc d'.4ffiircs N<)rd dc Francc F.ntrcpriscs, 140, PaTh-.is de Rorterdam, 59777 lille Auditors: BuzzacL)tt. 130 IKiJod Srreet. LLindL)n EC2IT 6DL COMMONWEALTH WAR GRAVES FOUNDATION A MESSAGE FROM OUR CHAIR It EiTas another }ear Th-here COI'ID-IL) continued to jnip&lCt hugeli, on both our progran]mes and our fundraisinx resultinKT in man}. of our planned actririties beinKT often delai?ed or even cancelled completeli.. Chief amon¥5t these ￿,￿S oiir first ever Carol SernTice t the Ro!',ii fylihtari. Ch&ipel in I￿1]d￿lI, ￿hICh had pJ"umised ro be a m4rical evenin&,. Debplte this, T ain deligFhred thar The still recorded some siyJificant ucce%%e% and i)ITerall, the F()undau()n c()ntinue% t(} grow and deiTtI()p as the education charit}T of the CummUn￿e￿]th W'-ar GrAI-es CummibSiUn. Despite rhe p1ndemic, Our E}'es On Hands On N"c)luntter prI)￿ra1￿Me has cc)ntinued t() pti)i'e a hugre success. B}.. tlie end of the l'tir ntarli, 2,111111 volunteer% Th'ere actii-e up and dDivn tht UK, 2nd close to 11111,111111 hC&idEt()nL￿ ll()w bten inSPLCtcd sinct thc pr()gFnmtnc lut tn talk abuut the ivork nd hisioti of Ihc Commr)nThealrh 11 GrATr-es in Far greater nuniber.%. In all oicr C)1111 talks wtrt giitn Nvith nur 8pe£Lker% rtceixiing unifr)rmli cAcell£nt feedbAck in terms (If qualiti.- and en¥y"n]uit. Elsewhere membership numbtrs remi& inea stable, and we ipere forttinate to benefit Eroni generoiis grant awards from thL MacRobLrt'l'rust and thc Cado£an Charits., as iTrcll ab a hold a vcr! buccL%%ful N'irtual Ivalk eN"ent that ra15td oi'er £2U,000 from more thin 400 participants and sponsors. l£gici' notifications and incom¢ ￿'Cr¢ up and a]1 of thcsc factors mc%n ￿'C arc #bl¢ to plan tror thc futur¢ ￿1th confidcncc, ￿'1th som¢ exciting new project5 and progr1& mme5 in devtlupmenr. Finalli,, l iv()uld like tn recr)rd mi, thank% tn mi. ftlloTh, TrLLStets for their very, Th-elcomt guidance, sllppnrt and conrributions ol.er the }-ear. DocUs￿￿dtsy'. D73EABFQDEE9 Chair Df Triistce Date.. ()th september 21122 COMMONWEALTH WAR GRAVES FOUNDATION Trustees, Report for the year ended 31 Match 2022 Introductlon The Trustees present their report and &lCCOilllts, for the Foundation's fourth operational }'ear, ending on 31 larLh 2022. Structure and Governan¢e The CommnnTh'ealth Wiir GraiTes F,nundAtinn ("rhe F,c)undiltion" or 'CWIGF,") is a Charitable Incorporkted Organi%atir)n ICIOI, goi'erned bi, its Consrirution, regi%tered on 8 .Nlarch 2017 t]d %ub%tquendi amended c)n 6 NIA}- 2n17. 'fhe r,oundxtic>n i8 reLTisrered ivith the Chxriry.. Cc>mmi%%inn of F.n£land & Wmles (chmrity registri& tion number 1171947). The Poundation has dsn estl& blished nd regisrered branches in.. Belgium (cnrcrpri£c numbcr 0689.789.2891. #nd in F,r3ncc (Sirct numbLr 8.10 666 645 0001.31, govcrncd undcr the %#mc consiiiutinn. Thc fi)mmr)nwcalth iK'Rr GrAiTCS Cnmmi%8inn f'thc Cnmmi88inn" or "Cll'Gf"), an r)rgani%atrnn c%tabli,£hcd b}.- Roi'il Charter in Lll&ii 1917, 1% thc sole member of the Foundation. The Found&itioll 1% sub%idiiri of thc Commission. Thc Commission is not a charity as its purposcs Arc not cxclu8iN'cli.- charitablc. qember5 of the Foundauon'b Buatd of Ttusree5 are appointed b}, the Comnii5bivn' the fflajoriry.- of the FounaAtion'8 Tni%tees are nrit I"t)mmi%%ir)ner%. The Friundatinn'% c.hief Extciitivt al%rJ %eThe8 the Commisbiull'b Director General. Four Trustee meetinxs took place during the }'eAr. New TrLL8t¢¢%' induction is proiTid¢d bi.- m¢¢tinLry th¢ Foundation's (-hi¢f Ex¢clltiv¢ aionby%id¢ m¢ttinL th mttnber5 of rhe Commi5510ll'5 senior mxnagTremeni teAm. ObJaetlv•s and actlvltles The objectii'e5 ()f rhe FoundArinn Are.. To promr)te nd %upprJrt the intenance and upkeep rif gr£ll'e%, cemtteries, building8 and memorials fnr the burial and ci)ninien]i)ratii)n ()f tneniber5 1)f rhe Nal, tnilitArn". and arn]ed f()tceb fri)m c()untrits IIF the (.rJn]mr)nweAlth Kvho Kvere kJ"Iled duiing the Fir%t l¥,ord or the Stcond l¥.'orld I￿,￿r anYT￿here in thL ￿'orld, IA P2£ rriculn's mxin site% in Belgium and f,rani¥. The Trustee.% confirm thi& r thei I)a￿'e referred to rhe guidancc publi%hed by rhe Charit}, Commission in regard tc) public benefit ￿"hen reTrithing the r,c)undation's objeLtIlTes and plannin£ future dLtiTrities. Activities and Achievements Dcspitc th¢ ongoing impact of thc pAndemic. th¢ FnLindAuon mgd¢ progress in the following Arcas.. Gtthv membership supporter numbeLS to 1,496. DeliNered oi.et 600 ralks from trained i'olunteers in the Speakers Proxrmjme and iTia CIK'GC Public Engagement Co-ordinators. The ()nline ver%itsn i)f the N()or Ini!-.at I(han exhibitiL)n, celebr&itinL the hfe of Specid ()per&iU()ns .xecutive Noxjr Inl<}'Ar FJian rransitioned b<1ck ro tht Runn}rynedt Memori11 unce COIIID_19 r¢8trictions tas¢d. Th¢ F.!T¢S ()n Hands (In volLLnt¢¢rinL prc)gryamm¢ r¢8um¢d fLiII!'. Ift¢r (-(IVID-19 restrictions ¢xsed 2nd at the end ot Trfj1rch 2022, alillost 2,000 criNe voluntetts had inbpected alillost 100,000 headbtont arnund the UK. and cltantd r)r clt&irtd almr)st 13,111111. As a rtsult nf in%pectinns. tht Comn)i88ion h28 betn able to c()rrtct 157 trr()rs in ()ur hist()rical reci)rds and atchiiTes, rePl<￿e 54 htadstones Iiai-e 593 repairs r)r cr)rrectinns carritd out our Oper1& tions ttam. Our fJr%t virtual fLTndrai8ing cvcnt (Walking Our GraK'¢8 - The l¥'¢stcrn Frnnt) IAunched in April and s a greit 5ucces5, r?& ising over £20,000 Erom oN'tr 200 participAnts aiid ne14 rl! 500 5pon50r5. Tht FoiindatioA rtbrindtd to become more aligned Thryth the new Commission bt2t]ding 2nd a150 d¢i'¢lop¢d and Igunched its OllTn w¢hsitt in Nnvtmher 21121. Thc FoU￿d￿tIon dcp¢nds th¢ siipport frnm th¢ Commission, th¢ Commi%%inn'% IToILint¢crs and its volunteers for their deth"Cl& tion nd commitment to the delii'en, of the charitable &iCtiI'ities. It] the year, 1,905 voluntccrs gFaVC thcir timc and encrgn." an cstimatcd 15.021 hours, with an Cstimated valuc uf £134k. Buslnass Plan 2022-23 The Foundation'5 ke}, deljiTerables in 2022/23 are pl&inned to include.. Developing neTh' outreach and educ&iuon progr&￿mMeS in partnership wilh Ihe CW'GC. Re%rarting the Intern% (now called Guide%) progran]me in France Belgiun] assuming COITID.19 rcstrictions allo￿. COMMONWEALTH WAR GRAVES FOUNDATION Trustees, Report for the year ended 31 Match 2022 R¢g]bterinx tht FL)undariun as a charitable otxanisarivn in Scodand. Further imptovemenr5 in tn%awng TrKth supporters and grO￿an¥ membership, in oirder ro fund the nninx costs otr thc Foundxtion. R¢cruitm¢nt ana trainingk of aadition8] voluntccrs for thc 'F'.}."¢s On Hands On" projcct which Mill prui'ide COiTeragTre of berween 80-' 8i'/D of SC2& ttered pes in rhe UK. Ne￿, Noluntetrs coinmenc "hands on" gryii'c m&intcnancc followinby appropriatc tr&ir)inb. Incrc&sing r>ur fundraisit]g c&paciti hy rccruiting twa ncw pasts fnr Ei?cr)ts and fnr T￿StS (-nrpr)rate fundraisers. Repeating our iirtud ipalk &2nd Footsteps 06 our Forces eleiits. Holding n open ei'ening ei'ent at Brookwc)fKI and the Carc)I Cc)ncerr at the Roi?#l Guards Chapel in l.nndnn. In%txlling contxctlc%% donxtion st#rion% in thc Visitors Ccntrc in F,rAncc #nd thc InEomiArion CLnttc in Be1￿￿m. Further dcvelr)pit)g incr)me %tream8 friim dtinatinn%. ￿la %urpluses from the %ale OF new 2nd updated merchandise at the Commib5io)n'b Ieper Info)rmRtion Centrt and French Vibitot Centrt. Volunteers policy The Fuundallon encoura%es, I4Telcome5 and reco)gni5t5 I"olunteer5. The}, Eulfil a variets, of toles including.. acting ()ur el'es tArs ()n the brr()und f()r the "Ei'ts C)n I lands ()n" pr()jtct," tauCAttn¥￿ and inf()rminbr tht ￿'ider public un the Commission's wurk havingF rectii'ed ttainiA.¥ funded bi". Kantur,. and suppurting cure FL)uAdition actii'it}, frttli, lendingy their umt 2nd skdl%. Remun•ratlon polley for key management personnel ThL FIiLLndatitin's kti management cnmpriscs the TrLlSttcs, the ("hief EiecutiiTt and thc Executive Directnr., h()MTever, T￿￿tte￿ art unpaid, and rhe Chief ExecullN"t is ni)t remunerartd bi-. rht Fi)undari()n. During￿ rhe Ve under reiitTh' the FrJund2ur)n had ju%t fr)ur empln}'ee8, NTii nf UThom were emploired nn fiked term crjntracts. The F()undati()n's appr()Ich 1nd p()IiciT ()n remunerari()n f()11()ws rhar ()[ rhe C()tnniis5i()n, which is that remunerauon IciTcl% arc in Line ￿1th meth"In m&irLet diita for the not-for-profit 8ector e8tablishcJ from St21?1 tb survL}' and benchmxrk dar2& . Thc Cummissio)n agreed rhat during thL Fo)undatio)n's st?1 rr-up pLtiod, until it £rcc c2.%h tr) pa!, lor Administratir)t). finance markcting. tl)at it ivould prrjvidc h2ck-r)£fice 8upprirt free of cliarge. Top Risks and Mitigation The Found&itiL)n m&iintains a register of risks and their mitigation. Risks are tegorised 15 (Iperational, ReputatiL)nal, [,in￿clAI, ur C()VID-19. mirixarion measures are identified fut each one. This regisrer is monitnrtd bs, management and the Tru%ttts to it 1% kq)t reltvant and up to date. The top risk under eAch cat£gorJ' is.. C)perationd.. ()vercomtnitJnent on project acuviry. before funds are reCeI￿ed- which 15 Jnitigrittd througTrh business planningi, comprehensii."e project manag￿ement and KPI measurements. Rtput<1tiOn<11.. Threat i)f c},ber security bre1< ch/hacking,1I4Tebsite malfuncti()n - niitigArtd thri)ugh bt2fE rtaining,, intern21 fr txperuse and resnurcts and Cle￿ reporting guidelines. F,inanci#l.. Insnlvcncy- mitibY#tLd bv h#vin£ a re%ernTCS polie)-, finkncixl c()nrrc)ls And rcpnrting. COMMONWEALTH WAR GRAVES FOUNDATION Trustees, Report for the year ended 31 Match 2022 COIIID-19.. Funders, prioriue5 change (short-tertnl fuiidri& ising income is &iEEecttd bl closiires, del&il'S aiid rcccssion. 'lThcsc arc miti%atcd b!. prc-planning %0 that projcct8 #rc primcd to %tArt when rcstrictions alloiv, preparing funding proposals, and assessing new Eunding opportunitie5 and streams. Reserv•s The Foundation's re5erYe5 at 31 March 2022 were £453k, 5pht beThTten £353k restricted and £IOOk unrestricted. The Fuundatiun has set reseri.-es tarLiet of £48k L)f unrestricted reserves. This level of reserve is considertd Sufficient to coi'er the costs arising on the windup of the koundation and R4TDuId.. Crji'er the redllndanc! cost% of tht Fnundatinn'% employte%,' and l£ike proiTision for earli tern]inAtion of lly Other contr2Ct8 currentl}T in place. At Nlxrih 2022, available unre8triited reserves of £1 CKlk exieed rhe tqr£et of £48k by 1080/0. There IS A loan f2ciliry' Sull 21"unts nr nur knr)wlcdgc ()btr e haN"e nnt received all the inf()rm#ti()n and explanati()ns we require Ii)r ()ur audit. Responsibilities of Trustees As explained more fully in the Trnstees, re%ponsibilities statement, rhe Trustee% are responbible for the prep&iration OE the accoiints nd for being satisfied that the} gil'e a true and fair vieuT and for such internal control as thc Trustccs dct¢rn]sn¢ is ntyc¢ssar}' to ¢n8bl¢ the preparation ol accounts that arc Fr¢¢ from material misstatement, I￿hether due to fraud or tttor. In preparingy the accounts, the Trustceb are reswJnsible fur abbebsin¥ the ch2rity-'s abilit5. to co)ntinut as a going ct)ncern, disclosing￿. a% applicable, matter% related tn griing cnncern and using the xoinLk conctrn ba%is of accountinir unlcss th¢ Trllst¢¢s eithcr int¢nd to liquidatc the charity or to c¢ase operations. or hav¢ no re11istic alternatI￿c but to do Auditor 5 tesponsibilitie5 for the audii of the accounts Our objeclliTes are tn obtain reasnnable a55urance aboui whether the accounts a5 a whole art free from m<eriAI mi88t2ttmtnt. UThether due to fr&iud Dr error, to i%%ue an uditor'% report that incliides nur c)pinion. Rc#%c>nxblc #s%ur%ncc is # high Ici.-cl <)F 2%8ur*ncc, but 1% not # gu2rxnrcc that #n Audit ci)nductcd in ccordance with ISAS (LK) will 411￿,1, vs detccr a material mi55tatemenrwhen it exist5. Llli55tArcmenrs can arise io Independent auditor's report to the Trustees of Commonwealth War Graves Foundation from fraud or error and are considered material if, individuall!, or in the a&£re￿[e, the}, could reasonablTr be cxpcctcd to influcncc the cconomic dccisions OF ugcrs takcn on thc basis OE thcsc accounts. Irrcxulaiitics. includinx fraua. arc irtstanccs of non-compli4ncL ￿'1th la￿% and rc¥ilations. W'L a¢si4n procedurts in bne wtli our rebponsibiiities, oudinedi thcm in 2n auditnr's rtpr)rt 2nd f()r n() i)thtt putp()se. T() the fullesr txrent Pttmirted by12iv, we d() n()t accept ()t a55Utnt rtbp()nbibilin- t() Ini-oiie other rhi& n the charity and Ihe charity's Tru%tees as a bod},, for our audit work, for rhi% reporr, or for thc npininns wt havc tnrmed. Buzzacott LLP Statutori. Au(litor 1.30 Woud Stteet l.ondon F.(-2N' 6DI. Date.. 17 October 2022 Buzzacott LLP is eligible to Acr as an uditnr in tenns of section 1212 OE the Companies Acr 2006 COMMONWEALTH WAR GRAVES FOUNDATION Statement of Financial Activtties for the year ended 31 March 2022 testticted Funds 2022 Restricted Funds Lln. rcstrictLd Funds Total Rtstrict¢d Total 2022 2022 2021 2021 Nrjte Income from: D()natiiins & LLkTaCjC Charitable Actii'ities 298,232 48,675 346,907 1()4,224 335200 499,424 18,331 18,331 Supp()rier Scheme Incatne Otlier Trading Acti￿tieS 50,238 50.238 41.291 41,291 18,?(H) 18.51 7,8n3 Total Income 366,970 48,675 415.645 213.318 -353,-531 566,849 Expendithre ott.. Raising funds FuAdrqTrsJng custs Charitable Activities 273,0()8 9i,i61 273,098 103,274 112.170 33,69", 112,170 138,41)8 13 104,8111 Total expenditure -3C)8,C)79 376.372 145.8C)7 104.81)1 25(),C?C?8 INet (expenditute) / income 11,6891 ,962 39,273 248,7.50 -116,181 OthLr rLC().¥Fni%cd gains /llr)qsesl 534 534 1447) 14471 Net movement in funds 39.807 67,004 248.7.30 31 *,734 Recnnciliatioti of funds TotAI tut)ds brought ffir￿ard Nct mo￿.cmtAt in fund.s 13 101,763 311,721 413.484 34,759 62.991 97,7>0 13 39.807 67,004 248.730 31 *,7.34 Total funds carried forn'ard 13 3>2,683 453.291 101763 -311.721 413,484 All the kbove results dre deri￿ed From continuing dLtiTr-.ities. There were no other reiognised gdins nr losses nther th£in those stattd Aboit. Th¢ accompaniing accouniin£ wlicirc xl81) cr)n%c)lidxtcd in the results of the Commission on a linc bi, Line bA51S. Going Concern The financial %t&2remeArs I-t been prepRred on going conccrn basi￿. The Poundarion's financial %tAremenr8 Irc in 2 net 288et po8iti()ll tif £4.5.3..3k At .31 NIArch 21122 121121 £,41_3..Skl- The nct inttrgrnup 17212ncc h2 incrLa5cd ro.. £12.Ik oTh'Ld to rhc FDundAriuii b} thL Commission12021-£0.4k ￿￿'ca to thc Commission). Thc FoLinaatiiin currend}' ha8 Cash bAliticc% rif £47_5.Ik 1211211-£41_5.ILI wliich will crii'er it% grant actii'ities and eneral runnin% cobts. in 2022-23. The FL)undation expecr5 its memberbhip, doiiationb and other incunie tu borh conunue and grow oi.er the medium term, the charit}. Incrta8e.% it8 abihti, to hoch idtnuf} and attract ne sources uf granr and charitable fundin%. Trustee5 haRre approved budxet for 2022123 iTrirh forecast income of £446k, split between £398k unrestricted and £49k restricted. B￿a&￿tea cosrs iDdude LFrants to rhe Cominission L)f £-,339k. ttnplL)Tr'IMent Costs uf 1'269k and direct & runlling￿ costs of £"ICJOk resulung in a forecast deficit for the i.-ear ()f £"350k which ￿111 be funded b}-. reseriTes. If required, the FDund&ifio)n C2n i&150 do)￿￿ &idditional cash troin tht Commission's agTrrted loan faciliti. of £.500k in pl2cc until Nf&rch 2Q2.3. On this basis. thc Fnuna&ti()n is cnnsidtrcd to bL & going conccrn Ftir a ptriod of least 12 111()Aths from rhe d&1ft ()f apprnval ()[ these fin1< nci&l1 statements. Fund accounting The Found&ition holds unrestricted resrricted funds. Lnrcstrictcd incomc lunds comprisc thosc Funds ￿,hICh thc 'lrustccs arc Frcc to usc at thcir discrction in furtherat]ce 06 the objectii.-es of the Foundauon. Restsicted funds are subject to sp¢ofJc r¢strictions imposed b} th¢ donors. Income recognition Tncoine is recuLinised once the Foundation has entitlement to the income, it is probable that the incume ￿11] be receivtd, and the amout]t can b£ mei& sured rehabl}. Donations D()nati(In8 rtctived art rec()Lmi8ed ()nce tht F(iundatir)n ha8 tnutltment to the inctimt, it 18 pmbxble that tht incoine bt rtctii'ed, nd the Amount of income receiv&ible can be ine1< sured reliabli,. Supporter membership scheme Ancome Incnme from the.%uppnrters' membership %cheme ]% treated and rtcngni%ed as a doni& tit)n ivhen the atnount of incomc rcccivxblc can bc mc&%urcd rLliAblJ. 16 COMMONWEALTH WAR GRAVES FOUNDATION Principal Accounting Polices for the year ended 31 March 2022 Donated services, facilities and goods The F()undati()n rtctllTe8 8ertTice%. facilitit% gi)()d% free ()f charLFe in %upp<)rt i)f its fjnanct, human rt%()urces, lekryl, 111<1nakrement and operatiiJnal acriNities includinkr matketin¥ actii7lties. The vdue L)f these is rccogFnised as d()nattd %ervices D()nared st￿lCe5 and f1< cilitits teceii'ed Eree (Ilch2£ are sh()Ivn d()n<1ti()ns in kind nd tec()Amised in incoin¢ ryth an equivalent aniount rtcognised as an expen8e under charit&iblt cr)%t8. Tht ialuation attributed tri the%e d()n&2ti()ns is as f()Ilows'. rhe Foundati()n has been &211()Lated 5Q/u ()[ tlie runrtin￿ c()sts ()F bnth the Ieper Infortnatinn Centre and rhe Beaurains ITi%itor Centre, 11.i'lu of CWIGC'% toral ppIiciÉ ble back-office supporr ¢o%t% Andl (H)O/o of thc sixfF cost£ For thc dcdicAtcd finxnic And Admini%tr#tion £upport. Donarii)ns nf book Stocks frnm the Commission are recngni5ed in the period Ihat rhei are received. Grant Funding Fiinding from organisatiot]s supporting the Foundation'5 objectives is treated as restricted fuiids and shoR4 5Lpar1tLI}"' iii thL sr?t tLniLtit of Iiiiancial £2Ctil-itiL5 a5 this 15 mand1tLd b}- thL grant agYLcment5. The full inconie is recngni%ed in the )'t2r in which tht Fiiundatir)n btciimes £ull}' entitled to receivt it. Recognition of expenditure All cxpcnditurc is acc(iuntcd f(Ir in thc statcmcnt of financial activitics on an accruals basis. Cl•ssification of expenditure The f.uundatiun's expenditure is Analysed between fundraisin.4F Custs Rnd charitable activities. Expenditure on raising funds Expenditure i)n 15ing funds includes the cost5 to many rhe supporter scheme, mArketiAg and promotion costs tn raise income, f)ther direct Lr)sts attribLlt,'Ible tn rAisinK fund% iniluding a pr)rtinn r)f the d()n#ted in-kind siipport cnsr frnm the CWGC. The resources expended 1& nd &idmini5tering rhe chi& riti, include IOO'/o nf Sri& f respt)nsible fnr fund r&i%in£. ?.%t)/ii of the F,.xecUri￿¢ 3nd Adtninisrr&ti¢)n support. The donated in-kind cnst is plit 750/0 for the Admini%tratiNe support, iOO/D for the dcdicatcd finance %upport and 50010 for &ill orher donated E¥penditure on charitable activities Expenditure on charitable activities includeb.. all eipenditure direcd! relatin£ to the charitable activities of rhe Foundation,. resources expended on managing and administeriiig the chiriry. the direct cost of debiTerin% the cliaritable actlrities: Xranrs Pi?I'able,' and a PL)rriun uf the dL)nated in-Lind suppo)rt cost Erom the CW'-GC. The rt%()urce8 expended and xdmini%terin% the chArit}' indllde 2ill/th {)f the Execlltti"e and AdministrAti<)n %upport. The dL)nRted in-kind CL)St is spLit 250/fi for the AdtMistrative suppurr, 500/n fur the dedicated finance support and iOI/I th for all other donated costs. Ch4rit8blc 4ctii?itics arc curr¢ntli' J%sociatLd ￿'1th 2 4Ctivitics.. Adi-ancinLT public Ldueati(In on First and Second 'orld rs And Promotingr nd Supporting￿ acuiTltie5 undtrraken bi.- Cli,'GC. The total cost of the expenditure on chxritiblc 2ctiiiltics is apportii)n¢d 50..50 to thcsc 2Ctii'iti¢s. Governance costs G[)￿tr￿41￿CE c()Sf5 rtpre5tnt ditect expenditure incutred bv, Iir behalf ()E, the F()undati()A, fi)r external audit nd Itgal cnst%. 17 COMMONWEALTH WAR GRAVES FOUNDATION Principal Accounting Polices for the year ended 31 March 2022 Other recognised Gain/losses The expenditure u'ithin i)ther l()%%t% rel&tes tii eXchang￿e difftrtnct%. Inventory Cost for th¢ stnck of mtyrchandisc is includcd in currLnt asscts. TrIcrch3ndis¢, dir¢ct]}' purchas¢d by the Found&ityon'8 Bdgan and French br￿CheE, 18 ITalued it co%t. Tht Conimission's hi%toric %tock nf bnnk% and maps has been donated to rhe F'nundation free ot char£e. Pro￿$10n$ PruvibioA5 fur EururL likbilities rc rLciJgnised if rhLre 15 R ILgal ur con5trucrii'L finAnci21 obbgation that can be readi15' estimated and fr)r which there 18 a rtasnn£Lhle cxpectatir)n th&t p2}pmtnt ￿111 he m&dc. Foreign currencies I'ransactions in forci£n C￿￿encIeS arc trAnsl#tcd at thc monthl}". #vcr#£c cxchangc ratc. Cutrcncy balanccs xt the i'car-end are rranslated at thc }'ear-cnd rare. The net cxchange loss ivas £nil12021- ￿lA of £4771. Oper2ting le2ses Th¢ Foundation curr¢nd}T has no opuatinLk lcascs. Rent is not curr¢nt]}T CharL￿ed for Foundation ¢nLThbY¢m¢n¢ activitle5 cuiiducted at Commission locauon5, i.e., the Ieper InEL)rmation Ctntre 1nd French ITisitur Centre. The ()f th¢ Inf()rmatii)n and ITi%it(Ir (-entrt% 18 di)nAttd in kind b} th¢ (.ommi%%i()n and 1% acc()unted f()r under dL)nations and expenditure in kind. Value Added Tax (VAT) The Puundation's trading￿ actii"itie5 hai"e not Jet rei& ched the IlilT thresholds in the LIK, Pranct or Belgium Ind thcrcfnrt it is not currtnt]I' rcquirtd to rtgistcr for I'AT. Restricted funds The F()undari()n'5 financial statements include rtstricred fund5 f()r graAf Crivities. Significant estimates and judgements Estimates Thcrc contractual rcNcnuc cannot be allocltcd with ccrtaint¥,, but is rclatcd to thc currcnt financial period, an e5un]ate of the income is booked within the fiiiaAcial statements based on the aiiticipi< ted completion i-.2iue. Costs arc 8llocat¢d on an accrualg basis for costs incurrcd ￿'1th1n tlic current fJnancia] pcriod. Judgements ,Icmb¢rship income is r¢¢uLrnisca in tlic mL)nth it is r¢¢¢ii'¢d rather than bcinLr amc)rtisca i)v¢r the N"¢lv¢- month subscription period. This r￿'enue recogniuon approach ha5 been adopted btClumcs. m&}, not bc sr)Id ￿TI[￿l￿ the rweli'e moArhs following thc end OF the ieat. Dut to the continued imppcn for thL Eull pcriod, a }?cMr's provision exists For 500/0 of the stock valiie. io Debtors: amounts falling due Mqthin one year 2022 2021 PrepaNryneots 1,535 7,797 Accrued Donations 3,334 8,946 Inter4yroup balance ()￿£d b}, Communwealth lilar Grai'es Commissi()n 65,748 4,869 82.491 Prcp2srmcnt8 incluilc £1,245 for thc French 2nd Bclgium F.POS systcm xnd insurance costs and £290 For 5ub5cripuon c05tS t Hcad Office. ,.Iccrued donations rc for funds recciiTed of L2.3k ￿la CW.'GC's Pa},Pm Tht l-ammnnwc2lth lilar Crr2iits (-.nmmissinn far ann2tir)ns 2nd legacics Itss direct Cn5ts atni)unting tn £56k12021 a cosr rech