REGISTERED CHARITY NUMBEIL. 207852 of the Trustees and Financial Statem¢nts for the Y¢ar Ended 30 June 2024 l£ics & L'shire War Memorial Fo Woodford Nornwi Accouniing Limited 7 Kevern Close Wigsio tti¢e*r Leicesiershiye LE182GR
Leics & L'shi War Mem al Foundatio Contents of the Financial Statements or the Year Ended 30 June 2024 Pag¢ RerA)rt of the TnJ5tees Independent Examinels Reprt Statement of Financial A¢tivities Balance Sheet Notes to the Financial Statements 7 to 11 Detailed Ststemeni of Financial Activities 12
& L'shire War Memorial Foundation of the TteeS for the Year Ended 30 Jwle 2024 The tNstees present their report with the financial ateMentS of the charity for the year ended 30 June 2024. The trustee5 have adopted the provisions of Accounting and Reporting by Charities.. Statcment of Recomm¢nded Practice applicable to charities preparing their &rounts in xcordpnce with the Financia] Reporting Stsndard applicable in th¢ UK and Republic of Ireland IFRS 102) (effective l January 2019). OWEcfivES AND ACTIVITIES Objectives and aims The principle purpose of the Fth]ndation is to buil(L equip. endow and maintain dwelling house5 for disabled or othernise afflicted L£icestetshire velerans of the arnied force& merchani navy and civil def¢n¢¢ forces of the Crowi and their faTnilies and dendentS. There have been no changes to th¢5¢ objectives and p)licies since the FowKithn was esthblished. Wh¢n all dwelling hows are occupie4 the Found*ion maintaTns and upj8 a waiting li for future eligible residents. FINANCIAL REVIEW Investment ManagemeDt Th¢ Trustees have delegated the authority to w their Investm to the COIF Charities Investmen¢ Fund. with a small proportion to Schr(Kler Inveslments Limited (their Charity Investmeni Fund). The level of investment risk is #150 estkbli5hed and agreed in accordance with guidelines provided by Ix)th Fund manager& and these are reviewed annually by the Trustees. The objective has the primary aim of maximising income, whilst maintaining capital growth through the funds diversified portfolio of securities. Risk SesSMent The Trustees haye carrted out an overall risk Ls5essment to identtfy the risks associated wth the Operatio of the Foundation, and where appn)priate, have tntr(XIed controls and saftguards to minimi5e the effect of those risk5. Funding The Trnstees are satisfied that the Foundation's are available and adequate to fvlfil its obligations. Reserves polley The Foundations's reserves comprise fund5 restricted for specific PUTPOSes ag set out in the noies to the financial statements, and general reserves to provide working capitsl. and to 5xur¢ the c4)nEinuity of the Found10n.$ activities in the future. Page I
& L'shire War M FoUndlOn ofth neeS ear Ended 30 Ju for th 2024 srRUCTURE, GOVERNANCE AND MANAGEMENT Governing dotument The Foundation's objecL8 and polices are contai1 in Found&ion's Deeds of Tru5L registered with th¢ Supreme Court of Judicature, Chancery Registravs office, High CourL under docwnent r¢f¢rence 1952- L799. The Foundion's TnJste¢s are listed below. Col R M L Colville TD DL (Chaimwi) Mr A J Moore Mr D Mak51W Ltcol D RJ Young TD DL Mr P Walden Mr B H Brotherton MBE Cllr G Graham The acting Trustees have the EX)wer to appoini or eled new TnLecS. The current practic¢ is to apint new TnJses who are to the current Tnthes. and Th) fornrdl che£ks are Iherefore considered nece&sary. Appointees are inviied to a TnLsiee me¢iin& rffior io apwintmenL New Trustees T¢1ve a copy of the governing docurnenL ihe financial StateM¢n and the Charity Commission publicatio "Responsibility of a Charity Tntee". The Ttustees hav¢ power to invesi in any st(Kk& shares, or 5eawities. lA8 investsnents for the tinK ]ng authorised by law for the tnvestment of Tnjst fi]nds and freehold land. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 207852 Principal addre55 The Office Hamilton Lane Scrdptoft LEt¢ester tticesteshire LE7 9SA Trustees Col R M L Colville TD DL A J Moore D Maks)Thiw Lt Col D R J Young TD DL P Walden B H Broiherton MBE Cllr G Graharn Independent Examiner Woodford Norman AoUnting Limited 7 Kev¢rn C105e Wigston L¢icester Leicestershire LE182GR Page 2
&L Tru REFERENCE AND ADMINIrnTIVE DrrAIIS Solieltors Rich & Carr Freer Bts POBOX 15 24 Rutland Strtet L¢i¢es*r LEI 9GX Appyoved by order of th¢ board of tswtees M £& 10 ?024 athl on its lf Ey: AJM
Inde nd¢nt Examinerfs Re rt io the TnreeS of ics & L'shire W Memorial Foundation lrtdependent examiner's report ¢0 the trn5ttts of Leies & L'Shar¢ War Memoril Foundation I report lo th¢ ¢hariry rnsttts on my examination of the XCOWhL8 of t£1 & L'shire War Memorial Foundation (the Tnjst) for the year ended 30 June 2024. RtSPODsibilities and basis of report As the charity trustees of the Tnt you are reSt)S1]e for the weparation of the aCcOts in ordanCe with the requirements of the Chariiies A¢t 2011 (Ihe Act?. I retx)rt in respe¢t of my examination of the Trusvs &counts carried w)der se£tion 145 of the Act and in canying oui my examination I havè followed all applicabl¢ Direciions given by the Charity Commission under section 14515Kb) of the Aci. Independent ex#rnin¢r's ststemtnt I have completed my examination. I confirni that no material matters have come to my attention rn connection with the examitiation giving me cawe to believe in any materiat res. counting records were not kw in respect of the Trust as required by section 130 of the Ac¢ or the CoUnts do not accord with those records. or the accounts do not Comply with the applicable requrements concerning the forni content of xcounts set out in th¢ Chariiies (Accounts and Reports) Regulions 28 thher than any requirement that th¢ Unts give a true and fair view which is not a maller cO51dered &$ part of an iNlependent examination. I have no concerns and hav¢ ¢ome across no h¢r matters in connection with the exarnination to which attention should be drawn in this reryTrrt in order to enable a proper understanding of the accounts to be reach¢d. Mrs Yvonne Woodford Woodford Norman Accounting Limited 7 Kevern CliTrse Wigston lkicester Leicestershire LE182GR 29 Septemb¢r 2024
tgics & L'sh. War Memorial Foundation Stst t of Financial Activities e Year En 30 June 2024 30.6.24 Total funds 30.6.23 Totsl funds General Restricted fijnd fund INCOME AND ENDOWMEIYTS FROM Donations and legacies 159 Charlt#ble #¢tivities Property Rents 33.769 33,769 34,539 Investment income 7,032 7,032 7.235 Total 40,801 40.801 41,933 EXPENDITURE ON Charitable activities Property Rents 47.172 47,172 50.132 Net gains on inve%kn¢nts 34,727 34,727 14.728 NET INCOME 28.356 28,356 6,529 RECONCILIATION OF FUNDS Total funds brought forward 435.760 435.760 429.231 TOTAL FUNDS CARRIED FORWARD 464.116 464.116 435,760 The notes foTm part of these financial 5tstements Page 5
Warm 30.6.24 Total 30.6.23 Totsl Notes FIXED ASSETS Tangible Investsnents 51.960 401.767 51.960 401.767 51.960 378.041 453.727 453.727 430,001 CURREKf AETs 11284 Cash at bank 11.284 6,655 11288 11288 6,659 CREDITORS Arnounts falling withiD one year (899) (899) (9) NET CURRENf ErS 10.389 10.389 5.759 TOTAL ASSETS LE&S CURRENT LIABILrriES 464.116 464.116 435,760 NET LSSETS 464,116 464.116 435.760 FUNDS Uftresthaed fvnds 10 464,116 435,760 TOTAL FUNDS 464,116 435.760 Signed its behb. R M L Colville TD DL- TnLStrt
ics & L'shire War Mem l Foundation Notes t e Financial SiateTnents for the Year Ende une 2024 ACCOUNTING POLICIES B4sis of preparing the fiDaDcil slatemettts The financial Stateme1 of the tharity. which is a public benefit eniity w)der FRS 102, have been pwared in accordance with the chart11 SORP (FRS 102) 'Accounting and RerIng by Charities.. Statement of Recommended Practice applicable io charilies preparing their arUnts in accordance with the Financial Reporting Standard applicable irt the UK and Republic of Ireland IFRS 102) {effectiv¢ l January 2019),, Financial Reporting Siandard 102 The Finanoial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial stsiements have been prewed under the historical cost ¢onvention, with the exception of investments which ar¢ IrKlUd at maTkei valu¢ a8 nKxlifi¢d by the revaluation of certain assets. Income All income 15 recognised in the Ststonent of FinarKial Activities 0¢ the charity has entitlemeni to the fvnds it is probabl¢ that the income will be received and the amount tan b¢ measured reliably. EipeDditure Liabilities are recognised &s expe1]Jre &8 soon as there is a legal or Constructive obligation committÉng the charity to thai exrKnditure. tt is probable th a transfer of economic benefits whll be required in settlement and the amount of the obligation can be nured reliably. Expenditure is a¢¢ounied for on an accruels basis and has b¢¢D classified under heddirtgs that aggregate all wst related to the category. Where costs cannot be directly attributed to parti¢ular headings they have been allocaied activities on a basis consistent Mith th¢ use of rewur¢es. Tangibk fixed assets D¢preciation is provided at th¢ following annual ra*s in to WTite off each &8set over its estimated usefiEI life. T4xatw)n The charity 15 exempt from Mx on its charitable activiiie& Fund aeeounting The Endowmeni Fund and the Special Reserve Fund were esthblished by a Court Order in 1956. and the restrictiot)s placed on Capitsl and incomes &% Imtt in the note& Unrestricted fid reprtseni ttnts received and other incomingre50u recetved or generated for expenditure o the general objeoiv¢s of the Charity. Hire purchase #nd leas1¥ commitrnents Rentals paid under opernting l¢ase5 are charged io the St¥tement of Financial Activities on a straight line basis over ihe period of the lease. DONATIONS AND LEGACIES 30.6.24 30.6.23 fjitis Donations (i) 159 Page 7 ontinued...
& L'shire War Memo al Foundation Not the Financial Statem nts- continued for the Year En(kd 30 June 2024 INVESTMENT INCOME 30.6.24 30.6.23 Income from Investments 7,032 7,235 CHARITABLE AcfIviTIES COSTS. Direct Costs Support costs Totals 35,499 11,673 47,172 TRUSTEES. REMUNERATION AND BENEFTrs There were no trStreS, remuneration w (Ah¢r benefns for the year ffided 30 jur 2024 nor for the y¢ar ended 30 June 2023. Trnstecs, expenses There wetr no trustee5' exwises paid for the year ended 30 June 2024 rrfjr forthe year ended 30 Jun¢ 2023. COMPARATIVFS FOR THE STATEMENT OF FINANCIAL ACTIVITIES General fimd liestricted fijnd Total INCOME AND ENDOWMENTS FROM Donations and legacies 159 159 Ch4rit*blt aetivities Propety Rents 34,539 34,539 Inve51ment income 7235 7235 Total 41.933 41.933 EXPENDITURE ON Charitable aetivities Property Rents 50.132 50,132 Nei gains on inveslments 14,728 14.728 NET INCOME 6.529 6329 RECONCILIATION OF FUNDS Total funds brougbt fonvard 429231 429.231 TOTAL FUNDS CARRIED FORWARD 435,760 435.760 Page 8 ntinued...
LEi¢s & L'shtre W Memorial F dation Noi s to the Financial Statements- ¢oDtinued for the Y Ended 30 June 2024 TANGIBLE FIXED A&8ETS Freehold Freehold Totals COST At l Ju]y 2023 and 30 June 2024 2.692 49,268 51,960 NET BK VALUE AI 30 June 2024 2.6W2 49.268 51,960 At 30 June 2023 2.692 49.268 51.960 FIXED ASSET INVESTMENTS COIF- Income & Acc Schr(Mlerfs In Mgmt Ltd Totsls MARKET VALUE At l July 2023 Disposals iievaluations 361,384 (11,Ix)i} 34227 16.657 378,041 (I 1,001) 34.727 500 At 30 June 2024 384,610 17.157 401,767 NET BOOK VALUE At 30 June 2024 384.610 17.157 401,767 At 30 June 2023 361.384 16.657 378,lJ41 All invesknents are UK investsneni &8sets. Cost or valuation at 30 June 2024 is representrd by: COIF- Income & Schrodevs In Mgml Lid Shares Totals Valuation in 2023 Valuation in 2024 361,384 23226 16,657 500 378,041 23,726 384,610 17.157 401.767 If COIF & SchrThl&s Imd not been reVU¢d they would have been included #¢ the following historical cosL' 30.6.24 30.6.23 333,409 333,409 COIF & Schr(xWs were valued on fixed &ssd investments basis th) 30 June 2024 by mid market value. Pag¢ 9 ontinued...
Leics & L. hire War Memorial Foundation tes to the Finamcral Statements. continued for the Year End¢d 30 June 2024 CREDITORS: AMOUNTS FALLING DUE WH1N ONE YEAR 30.6.24 30.6.23 Trade creditors Other crediiors 900 899 io. MOVEMEiYf IN FUNDS Net movement in funds At 30.6.24 At 1.7.23 Unrestricted lufjds General fuTrJ 435,760 28.356 464,116 TOTAL FUNDS 435.760 28,356 4fA.116 Nei movemeni in fimd% in¢luded Tn the alx)v¢ are as follows: Inwming Resourtes expended Gains aThl losses Movement in funds Unrestricted funds Generdl fund 40.801 (47,172) 34.727 28,356 TOTAL FUNDS 40.801 (47.172) 34.727 28,356 Comp4rntiVfs for movem¢ttt in funds Net movement in fuThJs At 30.6.23 At 1.7.22 Unrestrieted funds General fuTKI 429,231 6.529 435,760 TOTAL FUNDS 429231 6.529 435,760 Compardiive movement in fittS, included in the ave aTe as follows.. Incoming resources expended Gains and Movement in funds UTrrestritted funds Gencrdl futvj 41.933 (50.132) 14,728 6.529 TOTAL FUNDS 41.933 (50.132) 14.728 529 Page 10 eontinued...
Leics & L'shire War Memorial Foun Noies to the Financial S ements- conti for the Year Ended O June 2024 io. MOVEMENT IN FUNDS- wTrtinued A curr¢nt year 12 months and tffior year 12 months combined sItiOn is as follows.. Nei movernent in funds Ai 30.6.24 At 1.7.22 Unrestri¢ted funds Generdl fund 429.231 34.885 464,116 TOTAL FUNDS 429231 34,885 464,116 A ¢UTrent year 12 months and prior year 12 th$ combined movement in fund& included in the above a as follows-. Incomtng Resourc expended Gains and 10sse5 Movement in fvnds Unrestricted funds Generdl fund 82.734 (97,304) 49,455 34.885 TOTAL FUNDS 82,734 (97,304) 49,455 34,885 All activiles of the Charity are ¢Itfied as continuin& The fimds held by the Found*ion comprisc.. Income Fund which is rEStric the Special Reserve F)d and the Endowment Fund Mthich are restricied but ly in aecordan¢e with the Charity's Conmitutio RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 30 June 2024. Pagell
s & L'shire War M orial Foundation Detailed tatemeni of Financi l Activities for the Year En 30 June 2024 30.6.24 30.6.23 INCOME AND ENDOWMENTS Donations #nd legxcies Gift Donations (i) 159 InVtment ineome Income from Investments 7.032 7235 Charitable activitks Propety Rents Grants 33.769 24.539 10.o(MJ 33,769 34,539 Total ineomittg reM)urres 40.801 41.933 EXPENDITURE Charitable #etivities Upkeep of Property Rates and wer Insur8nc¢ Light, Heat & Power Hon Secretatys Honordrium Sundrieg 27,943 2,916 2,678 978 750 234 40,295 2,451 2,595 530 600 246 35.499 46,711 Support eosts Gov¢r44nce eosts Auditors, remun¢ration for Don audit wth Legal Ftts 900 2.515 10.773 11.673 3,415 Tothl resources expended 47,172 50,132 Net expenditure before gains and lo&qes (6J71) (8.199) Realised reeogTri%d gaiTr5 l( Investments 34.727 14,728 Net iDcome 28.356 6.529 This page does not fonn part of the statytt>ry financial statements Page 12