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2025-12-31-accounts

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

Registered number: 03179216 Charity number: 1186628

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 9
Independent auditor's report on the financial statements 10 - 13
Statement of financial activities 14
Balance sheet 15
Notes to the financial statements 16 - 29

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025

Trustees John Williams, Chairman2
Gillian Baker OBE2
Stephen Groves1
Nicholas Simpson, Vice Chairman2
Simon Westwood2
Patrick Wing MBE1
Richard Youds2
Susan Cleeton1
1
Narpo
2
Retired West Midlands Police Officers
Company registered
number
03179216
Charity registered
number
1186628
Registered office
Guardians House
2111 Coventry Road
Sheldon
Birmingham
B26 3EA
Secretary and General
Manager
Steve Newbury
Independent auditor
Cooper Parry Group Limited
Statutory Auditor
Cubo Birmingham
Office 401, 4th Floor
Two Chamberlain Square
Birmingham
B3 3AX
Bankers
Lloyds Bank Plc
6th Floor
33 Old Broad Street
London
EC2N 1HZ
Investment Managers
Evelyn Partners
103 Colmore Row
Birmingham
B3 3AG
Patron
Vacant

Page 1

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees have pleasure in presenting the Annual Report of the West Midlands Police Benevolent Fund for the year ended 31 December 2025 which is also prepared to meet the requirements of a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice (effective January 2019) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Charitable objectives

The current rules were adopted June 2016 (including some additional amendments made since that time) which formulated and regulated the activities of the Charity and its Trustees. Copies of the rules are available on request from the Charity's manager or on the Charity's website.

The objects of the Charity are for the public benefit, for the prevention or relief of poverty, suffering, distress or financial hardship amongst its beneficiaries which include both serving and retired police officers, members of police staff of the West Midlands Police Service, members of the Special Constabulary and in some cases dependents, in particular but not exclusively by providing financial assistance and support by way of grants or loans to those individuals in such ways that the trustees see fit from time to time and the advancement of such charitable purposes in connection with policing as the trustees see fit from time to time.

The Charity is also able to provide facilities for the relief of injury or illness through the provision of facilities for convalescence and rehabilitation.

b. Membership

Member benefits

Sickness vouchers

Both serving and retired members can apply for a £30 voucher if they have been off work for 21 days or more. They can apply for one further voucher if they have been off for over four months.

Interest Free Loans

All members can apply for interest free loans in times of hardship and need.

Grants

All members can apply for grants in times of hardship and need.

Convalescence and Rehabilitation

All members can apply to visit St Michaels Lodge in the Ribble Valley, Lancashire. They can receive a five day stay with food, accommodation and either physio or wellbeing treatment.

Discounted holiday breaks at our two holiday homes

All members can apply to stay at our two holiday homes at greatly reduced rates.

Death in Service Grants

All serving members receive a £4,000 death in service grant.

All dependent children of members who die in service will receive £25 a week until the age of 18 years.

Protected Rate Members

All protected rate members are entitled to claim up to £600 in consultations costs per year. (Scheme closed).

Page 2

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Objectives and activities (continued)

Discounted High Street Shopping Rewards Scheme

All members can access a variety of exclusive discounts including money off groceries, family days out, health and beauty, travel and offers on a large range of high street and online retailers via our ‘Yourrewards’ section within our website.

Free Will writing service

All members have access to free basic Will writing service via our partners Thompson Financial Solutions Limited which can be accessed via a portal within our website.

Mental Health Counselling

All members can apply for up to 12 online counselling sessions provided by Counsellors at St Michaels Lodge.

c. Subscriptions

Members subscribe to the Benevolent Fund by way of deductions at source either from their West Midlands Police salary or pension directly. In some circumstances members can pay via a direct debit or standing order facility but these numbers are limited to below 100.

Trustees took the decision this year NOT to make any increases in members' subscriptions and this will be reviewed again in late 2026 with a view to 2027.

Serving Police Officer £2.00
Special Constabulary £2.00
Serving Police Staff £2.00
Serving Protected Rate £5.00
Retired Police Officer/Staff £1.00
Retired Protected Rate £3.75

Protected rate membership is now closed and is not available to new or existing members. The total number of members 9,787, an increase of 5.66% for the year and is broken down as follows:

Serving Police Officers 5,281
Retired 3,683
Police Staff 785
Ex Dependents 38

Demand for services:

During the 2025 period demand for assistance with hardship loans and grants has increased but within manageable levels. The Fund has discussed, planned and has contingency for increased demands due to high rises in cost of living such as energy and food over the next 12 months and beyond. The 2026 budget will be reviewed mid-year to ensure demand and anticipated costs are understood and planned for.

Overall, the Charity feels it is in a very strong position to maintain service and continue to support our members through the cost-of-living crisis.

The Trustees considered in depth how the severe fuel, cost of living increases and the general state of the economy may effect our members and ensured that we are prepared for some very difficult and impactive times ahead with regards to reserves and financial planning.

The Trustees are very optimistic the Fund can sustain and deliver services and benefits in the years ahead.

Page 3

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Objectives and activities (continued)

d. Public Benefit Statement

The Trustees confirm that:

In the exercise of their powers as Charity Trustees, they have had due regard to the published guidance from the Charity Commission when renewing the Charity's aims and objectives and in planning future activities.

Achievements and performance

a. Main achievements of the Charity

The Charity continues to engage more closely with its subscribing members and in particular widows and orphans who we support.

During the year the Fund consolidated a new Free Will Writing partnership with Thomson Financial Services Limited, a well- established partner of policing.

Our mental health counselling services really established itself as our latest member benefit and was well received by both serving and retired members.

The Trustees approved the increase in the death in service grant from £3,500 to £4,000. The orphan benefit remains at £25 per week per child.

The Charity has agreed to support funding for the new West Midlands Police Memorial Garden project which will be developed at Tally Ho training Centre during 2026.

Throughout 2025 the Fund amended its rules slightly to create a permanent re-join process and donation system to cover lost membership. Thus it no longer requires amnesty periods each year.

In conjunction with the West Mids Police OK team the Fund supported and produced OK Cards which were delivered around the Forces locker rooms with cards being posted in officer’s and staffs lockers. This was to offer practical steps and support to promote mental health and wellbeing. It was also a valuable means of promoting the Benevolent Fund and was a great boost to membership. So far over 4,500 OK Cards delivered.

The Charity always continues actively seeks to increase and maintain membership in as many ways as possible some examples of this year’s marketing campaigns included attendance at:

New recruit induction events New recruit initial training courses. Police Federation retirement seminars; West Midlands Police Wellbeing events; West Midlands Police Family matters events; National Association of Retired Police Officers AGM’s; Police Federation Representatives meetings; Transferees and re-joiner events; Police Specials Events; PCSO initial training courses; Police NOW recruitment process; West Midlands Police Open Days Force reunion events Police Federation Road Shows

New Recruits proved successful again in 2025. The Charity has welcomed over 550 newly recruited officers to the Fund and work is well underway to target as effectively as possible the similar number that are projected in 2026.

Page 4

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Achievements and performance (continued)

The Charity has seen continued success too with its attempts at retention of officers when they retire. Attendance at retirement seminars has been very successful and will continue in reminding officers of the Funds benefits into retirement and the procedure to retain membership. Work will be undertaken in 2026 to retain Police Staff into retirement to increase retention in that area.

Whilst membership maintenance and increases will remain an important part of the charities work during 2026 the trustees will ensure that the Benevolent Fund continues to focus and establish itself more visibly as a charity. The Fund has held charity status now for over five years and it is time to work harder in the area of donations and legacies. This work has already begun with the Will writing benefit where those members creating wills are reminded of the Funds charity status and asked to consider a legacy within that will. This will be added to with a campaign to remind members of our charity status and work by reaching out to associations and groups within the police family by letters, e mails and presentations. We want to put the Benevolent Fund Charity at the forefront of their minds when considering fund raising, sponsorship and donations.

The Fund continues to be a proud and active member of Police Charities UK allowing us to come together with other Police charities and groups to partner and share best practices and ideas to deliver the best services to our members. This will further give Police Charities strength in numbers and with partnering gives stronger opportunities and buying power for merchandise, IT and digital infrastructure.

The Charity continues to engage with West Midlands Police at all levels to ensure opportunities to meet and engage with staff are found.

Plans for 2026

We will continue our successful recruitment drives to increase membership as a whole but in particular new recruits and police staff members. We will examine our retention processes in detail to ensure we can reduce the retired members losses. We will be examining all application forms and ensuring they meet current needs. Likewise with our website all detail and processes will be re-examined to ensure fit for purpose and meeting the needs of our membership.

Changes will be made to our promotional video to ensure its up to date benefits wise and its relevance to our members and potential members.

Develop a micro website which will run in conjunction with that of the new police memorial garden being developed and built at Tally Ho training Centre.

To carry out a refurbishment at Peels Retreat our holiday home in Weymouth. This will include flooring, bathrooms and external gates and security.

Distribution of Funds

All members can apply for interest free loans and grants in times of hardship and need. Members are required to submit a detailed application of their finances and situation to the Charity's general manager. Following further consultation and investigation the application is presented before the Operations Committee who deliberate, vote and decide on the type of assistance if any given. This decision is further considered and ratified in the following Trustees’ meeting before the application is finally authorized. The Committee can decide upon the type of assistance and the length and monthly repayments in the case of a loan.

These are the breakdowns of how member benefits were distributed this year:

Sickness Vouchers £7,310 Grants £37,586

Page 5

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Achievements and performance (continued)

Loans £4,736 Rehabilitation £43,492 Mental Health Counselling £11,200 Death Grants £12,000 Dependents £15,747 Private Consultations £2,358 Family Event £2,750

Here are some of the Grants and loans given by the Charity this year from applications received.

  1. £1,382 granted to a member for specialist bed to be located downstairs as upstairs inaccessible due to illness.

  2. £4,600 granted to a retired police officer member for a walk-in shower bathroom conversion following cancer and mobility issues.

  3. £1,100 granted to student member following no fault eviction and storage issues when seeking new accommodation.

  4. £500 emergency grant to serving officer following family split and beds and bedding required for child care as shared parental care.

  5. £14,209 granted to retired officers husband suffering from dementia and bathroom conversion required for them to be cared for at home.

  6. £2800 granted to serving staff members wife, an amputee for stairlift.

  7. £500 emergency grant to serving officer whose daughter suffering cancer to assist with travel costs and accommodation associated with continued and prolonged hospital visits.

  8. £500 granted to elderly retired officer suffering serious illness and whose wife had to travel long distances to see member during treatment and incurred high costs of accommodation and transport.

  9. £12,000 granted to retired member with progressive MND to assist with the cost of a specially adapted vehicle to travel in.

  10. £615 loaned to serving officer for vehicle repairs who was in severe financial difficulty.

  11. £4120 loaned to officer following severely acrimonious split suffering mental health issues and financial hardship to assist with solicitor’s fees.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustees have considered the guidance published by the Charity Commission in respect to reserves and feel it prudent to maintain a level of reserves both to support the ongoing activities of the charitable company and to establish a buffer against any decrease in income. The Trustees have therefore set a policy that the reserves target should be six months’ operating expenses which is approximately £130,000.

As at 31 December 2025, the free reserves of the Charity (that is those general unrestricted reserves not invested in fixed assets or represented by investments) were £211,404 (note 16).

Page 6

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

c. Financial review

Total income for the year amounted to £323,223 (2024: £473,823). The Charity incurred expenditure amounting to £372,970 (2024: £344,849) resulting in a deficit before investment gains of £49,747 (2024: Surplus of £128,974). Investment gains for the year amounted to £202,892 (2024: £96,837) resulting in total net increase in funds of £153,145 (2024: £225,811).

The charity’s listed investment portfolio was valued at £1,948,186 (2024: £1,710,213).

d. Risk Management

The Trustees keep under review the major strategic and operational risks which the Charity faces.

They believe that all necessary steps have been taken and systems are in place and established to minimise any such risks as might exist.

The Trustees consider the main risk to the Charity arises from its maintenance and retention of its existing membership. They instruct their staff to focus, deliver and establish continual innovative ways to achieve this which are continually assessed and developed at Operational and Trustee meetings.

The Trustees have agreed risk profiles with our investment managers.

The Trustees recognise the importance of its financial investments and continually review and seek guidance and updates from our financial investment team within Evelyn Partners. The Trustees have a clear risk level policy which is reviewed on an annual basis unless need arises for earlier intervention.

In the current year under review the Charity continued to hold a diverse portfolio to best represent its needs.

Structure, governance and management

a. Constitution

The West Midlands Police Benevolent Fund until July 2019 had been known as WMP Benevolent Fund and was a private company limited by guarantee. Following its AGM on 12 July 2019, the company adopted new ‘Articles of Association’ by way of a special resolution and voted to change its name to West Midlands Police Benevolent Fund. The decision was taken to apply for charity status.

On 28 November 2019 the Benevolent Fund successfully achieved charity status and was given the registration number 1186628.

All Trustees are members of the Operations Committee and are elected in accordance with the rules.

All payments made by the Charity must be authorised by the Committee and further approved by the Trustees. Arrangements are in place to deal with emergency situations outside of Trustee meetings.

Periodic meetings take place which comprise of regular Operations meetings followed by Trustee meetings, Annual General Meeting and an annual Budget meeting in accordance with the rules. In addition, there is a further mid-year budget which is also provided for approval by the Trustees.

During the pandemic regular Zoom meetings took place replacing the physical face to face meetings. This worked well and will continue where required and needed.

The Trustees recognise the need for ongoing reflection and inclusion within its board to ensure that all areas of the police family are represented within its Operations Committee and Trustee board. Amendments have been made to the Charity's rules to ensure a more diverse and representative makeup of both is ensured and to that end the Trustees have welcomed representatives of Black and Asian Police Officers Association, Women In Policing and the Disabled Police Association to the Operations Committee.

Page 7

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Structure, governance and management (continued)

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Trustees are listed on the reference and administrative details page.

c. Grant or Loan making policy

The Committees have no specific policies in relation to grants or loans. Each individual application is treated on its own merits in relation to hardship and need.

Applications are submitted to the general manager who investigates and meets applicants usually face to face to establish certain facts and details. The general manager will then present these applications without disclosure of applicants details to the Operations Committee who then question the general manager on his findings and scrutinise the application with discussions, between them. A vote on approval is then made by the committee. This decision is later ratified by a Trustees board meeting who have the final approval decision.

d. Policies adopted for the induction and training of Trustees

New and existing Trustees have undergone appropriate training to assist them in fulfilling their role which will include understanding their legal obligations under charity and company law, Charity Commission guidance on public benefit, the Operations Committee and decision-making process, the Charity’s business plan and any key recent financial performance of the Charity. This training was delivered by a qualified and suitable company, Higgs and Sons Solicitors via their Charity arm. Refresher training will be delivered on an annual basis to maintain full levels of understanding and governance.

e. Pay policy for key management personnel

In 2015 following a readjustment of accountabilities and organisational structure, West Midlands Police Benevolent Fund commissioned West Midlands Police Corporate HR to provide pay and grading advice for roles within the West Midlands Police Benevolent Fund aligned to that of their structure in remuneration of civilian Police staff. Following this evaluation, recommendations from that report were adopted and the West Midlands Police Benevolent Fund continues to align itself with those pay scales and structures.

The Trustees consider its key management personnel comprise the management team.

Page 8

Docusign Envelope ID." 102E9841-OE7D4487-B7D&A1C944F3E6C3 WEST MIOLANDS POLICE BENEVOLENT FUND (A company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR ThE YEAR ENDED 31 DECEMBER 2025 Statem•nt of Trustee•. rn•pon•ibiliti The Trustees (who are also the directors of the Chanty for the purposes of company lawl are responsible for preparing the Trustees, report and the financial state￿￿ntS in accordance wrth applicable law and United Kingdom Accountbng Standards (United Kingdom Generalty knepted Accounting PractscEI. Cornpany law requires the Trustees lo prepare finanual statements for each financial . Under company law, the Trustees must not approve the financial statements unless they a￿ salisffied that they give a tnje and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that penod. In prepanng these ffinanual slatemnts, the Truste85 are reqUI￿d to.. select sutsble accounting Folicies and then aP￿Y them ¢onsislently'. observe the methods and pnncip18s of the Charit￿ SORP IFRS 1021., make judgments and accounting esbrnales that are ￿asOnable and prudent., stste whether applicable UK Accountsng Standards IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financial stsleffenls", prepare the finantyal slalemenls on the goin9 concem basis unless il is inappropriate lo presume that tho Charity will conbnue in business. The Trustees are responsible for keeping adequate accountsng records that are $ufficienl lo show and explain the Charity's transactions and disclose with reasonable acLuracy at any time the financial posrtion of the Chanty and enable them lo ensure that the finanoal statements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence fof tsking reasonable steps for the p￿VentIon and deleth'on of fraud and other IrregU￿ntIes. Dl•¢lo•ur• ol Inlorni•tlon to audltor Each of the pewns who are Truste•s al the time when this Trustees. report 1$ approved has confiM￿ that.. so far as that Trustee Is aware. the￿ 1$ no relevant audrt infom)ation of which U)e charitys auditor is unaware. and that Trustee has taken all the steps that ought to have been taken as a Trustee in order lo be aware of any relevant audrt inft>rmation and lo establish that the charity's audrtor is aware of that infornalion. Audttor The auditor, C¢)oper Parry Group Lirnited, has indicated his willingness to continue in office. The designated Trustees will propose a motion reappoinbng the auditor at a rr￿trng of the Tnjstees. Approved by order of the members of the board of Trustees on 13 March 2026 and signed on their behalf by.. John Wllllam# Chaimian Page 9

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WEST MIDLANDS POLICE BENEVOLENT FUND

Opinion

We have audited the financial statements of West Midlands Police Benevolent Fund (the 'charitable company') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance sheet and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditor's 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 United Kingdom, including the Financial Reporting Council'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.

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.

Page 10

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WEST MIDLANDS POLICE BENEVOLENT FUND (CONTINUED)

Other information

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, except to the extent otherwise explicitly stated in our report, 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our 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 Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, 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.

Page 11

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WEST MIDLANDS POLICE BENEVOLENT FUND (CONTINUED)

Auditor's 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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our assessment focussed on key laws and regulations the charitable company has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Companies Act 2006, Charities Act 2011, Charities (Protection and Social Investment) Act 2016, taxation legislation, data protection, anti-bribery and employment legislation.

We are not responsible for preventing irregularities. Our approach to detecting irregularities included, but was not limited to, the following:

Whilst considering how our audit work addressed the detection of irregularities, we also considered the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditor's report.

Page 12

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WEST MIDLANDS POLICE BENEVOLENT FUND (CONTINUED)

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 Auditor's 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Glen Bott (Senior statutory auditor) for and on behalf of Cooper Parry Group Limited Statutory Auditor Cubo Birmingham Office 401, 4th Floor Two Chamberlain Square Birmingham B3 3AX 13 March 2026 Date:

Page 13

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025

Note
Income from:
Donations and legacies
3
Charitable activities
2
Other income
4
Investments
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
Total expenditure
Net gains on investments
12
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
15,644
243,846
12,700
51,033
323,223
10,120
362,850
372,970
202,892
153,145
2,658,817
153,145
2,811,962		 Total
funds
2025
£
15,644
243,846
12,700
51,033
323,223
10,120
362,850
372,970
202,892
153,145
2,658,817
153,145
2,811,962		 Total
funds
2024
£
176,750
234,696
12,600
49,777
473,823
9,286
335,563
344,849
96,837
225,811
2,433,006
225,811
2,658,817

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 16 to 29 form part of these financial statements.

Page 14

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee) REGISTERED NUMBER: 03179216

BALANCE SHEET AS AT 31 DECEMBER 2025

Note
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Investments
14
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
16
Unrestricted funds
Designated funds
16
General funds
16
Total unrestricted funds
16
Total funds		 13,405
103,539
145,227
262,171
(51,348)
2,601,139
210,823		 2025
£
652,953
1,948,186
2,601,139
210,823
2,811,962
2,811,962
-
2,811,962
2,811,962		 75,561
99,125
167,774
342,460
(60,729)
2,377,086
281,731		 2024
£
666,873
1,710,213
2,377,086
281,731
2,658,817
2,658,817
-
2,658,817
2,658,817

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 13 March 2026 and signed on their behalf by:

John Williams Chairman

The notes on pages 16 to 29 form part of these financial statements.

Page 15

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Accounting policies

1.1 Accounting Convention

West Midlands Police Benevolent Fund is a private registered company limited by guarantee with registered charitable status, in the United Kingdom. The company is incorporated in England. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the Charity’s operations and principal activities are to prevent or relieve poverty, suffering, distress or financial hardship amongst the beneficiaries by providing financial assistance and support as well as letting holiday properties to the beneficiaries.

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 (FRS 102), effective from 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

West Midlands Police Benevolent Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Page 16

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Accounting policies (continued)

1.3 Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

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.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Legacies are included in the statement of financial activities when the charity is advised by the personal representatives of an estate that payment will be made or property transferred and the amount involved can be quantified.

Government grants are included in the statement of financial activities when the charity is notified of the award.

1.4 Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:

• Expenditure on charitable activities includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them; and

• Governance costs including those costs associated with meeting the constitutional and statutory requirements of the Charity and include the audit fees and costs linked to the strategic management of the Charity.

1.5 Support costs allocation

Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Charity.

The analysis of these costs is included in note 7.

Page 17

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Accounting policies (continued)

1.6 Tangible fixed assets

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property - Over 50 years on a straight-line basis Plant and machinery - Over 4 years on a a straight-line basis Fixture and fittings - Over 3 years on a straight-line basis

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

A tangible fixed asset is capitalised if it has an economic useful life that extends beyond 12 months and/or was purchased, gifted or acquired by other means for a relatively high cost. A minimum spend of £1,000 is recommended for spend to be classed as a fixed asset.

1.7 Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the Charity is that of volatility in equity markets and investment market due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sector.

Unquoted investments are valued at managements best estimate of fair value and comprise medals.

1.8 Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year.

Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Investments are stated at market value as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on the revaluation and disposals throughout the year.

1.9 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.

Page 18

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Accounting policies (continued)

1.10 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.11 Current asset investments

Current asset investments are fixed term cash on deposit accounts with a maturity of less than one year.

1.12 Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

1.13 Employee benefits

The Charity operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the Charity pays fixed contributions into a separate entity. Once the contributions have been paid, the Charity has no further obligations.

The contributions are recognised as an expense in the Statement of Financial Activities when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Charity in independently administered funds.

1.14 Tax

The Charity is recognised 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.

1.15 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 and a significant net current asset position of £210,823 for the Charity to be able to continue as a going concern.

1.16 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Page 19

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Accounting policies (continued)

1.17 Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The areas where these judgments and estimates have been made include:

Depreciation and residual value:

The Trustees have reviewed the asset lives and associated residual values of all tangible fixed assets classes, and have concluded that asset lives and residual values are appropriate.

2. Income from charitable activities

Serving officers, pensioners subscriptions and support
Property income
Total 2025
Total 2024		 Unrestricted
funds
2025
£
196,996
46,850
243,846
234,696		 Total
funds
2025
£
196,996
46,850
243,846
234,696		 Total
funds
2024
£
188,456
46,240
234,696

3. Income from donations and legacies

Donations
Legacies
Total 2025
Total 2024		 Unrestricted
funds
2025
£
5,644
10,000
15,644
176,750		 Total
funds
2025
£
5,644
10,000
15,644
176,750		 Total
funds
2024
£
8,040
168,710
176,750

Page 20

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

4. Other Income

Income from non charitable trading activities

Rental Income
Total 2024		 Unrestricted
funds
2025
£
12,700
12,600		 Total
funds
2025
£
12,700
12,600		 Total
funds
2024
£
12,600
5.
Investment income
Dividends
Bank interest
Total 2024
6.
Expenditure on raising funds
Investment management fees
Total 2024		 Unrestricted
funds
2025
£
45,494
5,539
51,033
49,777
Unrestricted
funds
2025
£
10,120
9,286		 Total
funds
2025
£
45,494
5,539
51,033
49,777
Total
funds
2025
£
10,120
9,286		 Total
funds
2024
£
44,368
5,409
49,777
Total
funds
2024
£
9,286

Page 21

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

7. Analysis of expenditure by activities

Grant making
Lettings
Governance
Total 2024
Analysis of direct costs		 Activities
undertaken
directly
2025
£
148,429
46,115
-
194,544
179,775		 Support
costs
2025
£
141,905
-
26,401
168,306
155,788		 Total
funds
2025
£
290,334
46,115
26,401
362,850
335,563		 Total
funds
2024
£
273,056
38,405
24,102
335,563
Gifts and consultations
Other convalescence
Orphans and other contributions
Grants paid
Repairs and maintenance
Depreciation on property
Property expenses
Total 2025
Total 2024		 Grant
Making
2025
£
12,419
52,732
15,747
53,574
13,957
-
-
148,429
141,370		 Lettings
2025
£
-
-
-
-
-
10,748
35,367
46,115
38,405		 Total
funds
2025
£
12,419
52,732
15,747
53,574
13,957
10,748
35,367
194,544
179,775		 Total
funds
2024
£
20,779
33,850
18,922
54,242
13,577
10,748
27,657
179,775

Page 22

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Hotels, travel and subsistence
Printing and stationery
Telephone and fax
Advertising and promotion
Bank charges
Sundry expenses
Insurance
Equipment
Loss on disposal of tangible fixed assets
Auditor's remuneration
Legal and professional
Total 2025
Total 2024		 Grant
Making
2025
£
103,213
6,079
1,608
813
967
22,743
515
989
1,329
723
2,926
-
-
141,905
131,686		 Governance
2025
£
-
-
-
-
-
-
-
-
-
-
-
15,150
11,251
26,401
24,102		 Total
funds
2025
£
103,213
6,079
1,608
813
967
22,743
515
989
1,329
723
2,926
15,150
11,251
168,306
155,788		 Total
funds
2024
£
97,080
7,077
1,201
768
898
11,689
550
1,087
1,052
876
9,408
12,750
11,352
155,788

Expenditure on charitable activities for both years related to unrestricted funds.

8. Net incoming resources

Net incoming resources are stated after charging:

2025 2024
£ £
Depreciation of fixed assets 16,827 17,826
Auditor's remuneration - audit 13,560 12,750
Auditor's remuneration - tax compliance services 1,590 -
Defined contribution pension cost 9,052 8,421

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL).

Page 23

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

10. Staff costs

Wages and salaries
Social security costs
Pension costs		 2025
£
94,161
-
9,052
103,213		 2024
£
88,383
276
8,421
97,080

The average number of persons employed by the Charity during the year was as follows:

2025 2024
No. No.
Management and administration 4 4

No employee received remuneration amounting to more than £60,000 in either year.

The trustees consider its key management personnel comprise the management team. The total employment benefits including employer pension contributions of the key management personnel were £35,546 (2024: £35,427).

11. Tangible fixed assets

Cost or valuation
At 1 January 2025
Additions
Disposals
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the year
On disposals
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Freehold
property
£
900,601
5,833
(5,833)
900,601
234,774
15,781
(2,907)
247,648
652,953
665,827		 Plant and
machinery
£
30,658
-
-
30,658
30,658
-
-
30,658
-
-		 Fixtures and
fittings
£
10,808
-
-
10,808
9,762
1,046
-
10,808
-
1,046		 Total
£
942,067
5,833
(5,833)
942,067
275,194
16,827
(2,907)
289,114
652,953
666,873

Page 24

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

12. Fixed asset investments

Cost or valuation
At 1 January 2025
Additions
Disposals
Revaluations
Movement in capital account
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
13.
Debtors		 Listed
investments
£
1,707,213
25,945
(50,787)
202,892
59,923
1,945,186
1,945,186
1,707,213		 Other fixed
asset
investments
£
3,000
-
-
-
-
3,000
3,000
3,000		 Total
£
1,710,213
25,945
(50,787)
202,892
59,923
1,948,186
1,948,186
1,710,213
Due after more than one year
Loans to members
Due within one year
Loans to members
Other debtors
Prepayments and accrued income		 2025
£
4,277
4,277
2,236
3,039
3,853
13,405		 2024
£
8,139
8,139
5,823
3,164
58,435
75,561
14. Current asset investments
2025 2024
£ £
Short term cash deposits 103,539 99,125

Page 25

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

15. Creditors: Amounts falling due within one year

Other creditors
Deferred income		 2025
£
45,871
5,477
51,348		 2024
£
55,295
5,434
60,729

Deferred income represents subscription income received in relation to the following financial year.

16. Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
Investment
Revaluation
Fund
Investment
Historical
Cost
Tangible Fixed
Asset Fund
General Funds
Total
Unrestricted
funds		 Balance at 1
January
2025
£
323,917
1,386,296
666,873
2,377,086
281,731
2,658,817		 Income
£
-
-
-
-
323,223
323,223		 Expenditure
£
-
-
-
-
(372,970)
(372,970)		 Transfers
in/out
£
66,374
(31,293)
(13,920)
21,161
(21,161)
-		 Gains/
(Losses)
£
202,892
-
-
202,892
-
202,892		 Balance at
31
December
2025
£
593,183
1,355,003
652,953
2,601,139
210,823
2,811,962

Page 26

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

16. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Investment
Revaluation
Fund
Investment
Historical
Cost
Tangible Fixed
Asset Fund
General Funds
Total
Unrestricted
funds		 Balance at
1 January
2024
£
310,415
1,268,792
675,779
2,254,986
178,020
2,433,006		 Income
£
-
-
-
-
473,823
473,823		 Expenditure
£
-
-
-
-
(344,849)
(344,849)		 Transfers
in/out
£
(83,335)
117,504
(8,906)
25,263
(25,263)
-		 Gains/
(Losses)
£
96,837
-
-
96,837
-
96,837		 Balance at
31
December
2024
£
323,917
1,386,296
666,873
2,377,086
281,731
2,658,817

Investment revaluation fund – this represents the revaluation element of investments which fluctuate on a day to day basis. The Trustees believe that it is inappropriate to consider that the unrealised surplus is available for the ongoing work of the Charity.

Investment historical cost – this represents the book cost of investments which the Trustees maintain for long term investment and income generation. The income is used to support the charitable objectives.

Tangible fixed asset fund – this fund will fund the future depreciation of fixed assets.

Page 27

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2025
£
652,953
1,948,186
4,277
257,894
(51,348)
2,811,962		 Total
funds
2025
£
652,953
1,948,186
4,277
257,894
(51,348)
2,811,962

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
666,873
1,710,213
8,139
334,321
(60,729)
2,658,817		 Total
funds
2024
£
666,873
1,710,213
8,139
334,321
(60,729)
2,658,817

18. Pensions and other post-retirement benefits

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the year was £9,052 (2024: £8,421).

19. Capital commitments

Contracted for but not provided in these financial statements
Air-conditioning works
Air-con Works		 2025
£
42,000
35,000
77,000		 2024
£
-
-
-

Page 28

Docusign Envelope ID: 102E9B41-0E7D-4487-B7D3-A1C944F3E6C3

WEST MIDLANDS POLICE BENEVOLENT FUND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

20. Other financial commitments

The trustees have committed to contribute to the WMP Memorial Gardens Project.

21. Related party transactions

During the year there were no related party transactions.

22. Financial instruments

Financial assets
Measured at fair value through net income/expenditure
Fixed asset listed investments (note 12)
Debt instruments measured at amortised cost
Loans to members (note 13)
Other debtors (note 13)
Financial liabilities
Measured at amortised cost
- Other creditors (note 15)		 2025
£
1,948,186
6,513
3,039
9,552
1,957,738
2025
£
50,767		 2024
£
1,710,213
13,962
3,164
17,126
1,727,339
2024
£
60,729

Page 29