**REGISTERED CHARITY NUMBER: 207852**
## Report of the Trustees and
Financial Statements for the Year Ended 30 June 2025
for
Leics & L'Shire War Memorial Foundation
Woodford Norman Accounting Limited 7 Kevern Close Wigston Leicester Leicestershire LE18 2GR
Leics & L'Shire War Memorial Foundation
Contents of the Financial Statements for the Year Ended 30 June 2025
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|3|
|Independent Examiner's Report||4||
|Statement of Financial Activities||5||
|Balance Sheet||6||
|Notes to the Financial Statements|7|to|10|
|Detailed Statement of Financial Activities||11||
Leics & L'Shire War Memorial Foundation
for the Year Ended 30 June 2025
## Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The principle purpose of the Foundation is to build, equip, endow and maintain dwelling houses for disabled or otherwise afflicted Leicestershire veterans of the armed forces, merchant navy and civil defence forces of the Crown and their families and dependents.
There have been no changes to these objectives and policies since the Foundation was established.
When all dwelling houses are occupied, the Foundation maintains and updates a waiting list for future eligible residents.
## **FINANCIAL REVIEW**
## **Investment Management**
The Trustees have delegated the authority to manage their investments to the COIF Charities Investment Fund, with a small proportion to Schroder Investments Limited (their Charity Investment Fund). The level of investment risk is also established and agreed in accordance with guidelines provided by both Fund managers, 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 assessment
The Trustees have carried out an overall risk assessment to identify the risks associated with the operations of the Foundation, and where appropriate, have introduced controls and safeguards to minimise the effect of those risks.
## Funding
The Trustees are satisfied that the Foundation's assets are available and adequate to fulfil its obligations.
## **Reserves policy**
The Foundations's reserves comprise funds restricted for specific purposes as set out in the notes to the financial statements, and general reserves to provide working capital, and to secure the continuity of the Foundation's activities in the future.
Page 1
Leics & L'Shire War Memorial Foundation
Report of the Trustees
for the Year Ended 30 June 2025
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The Foundation's objects and polices are contained in the Foundation's Deeds of Trust, registered with the Supreme Court of Judicature, Chancery Registrar's office, High Court, under document reference 1952 - L799.
The Foundation's Trustees are listed below:
Col R M L Colville TD DL (Chairman) Mr A J Moore Mr D Maksymiw Lt Col D R J Young TD DL Mr P Walden Mr B H Brotherton MBE Cllr G Graham
The acting Trustees have the power to appoint or elect new Trustees.
The current practice is to appoint new Trustees who are known to the current Trustees, and no formal checks are therefore considered necessary.
Appointees are invited to a Trustee meeting, prior to appointment. New Trustees receive a copy of the governing document, the financial statements, and the Charity Commission publication. "Responsibility of a Charity Trustee".
The Trustees have power to invest in any stocks, shares, or securities, being investments for the time being authorised by law for the investment of Trust funds and freehold land.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
207852
## **Principal address**
The Office Hamilton Lane Scraptoft Leicester Leicesteshire LE7 9SA
## **Trustees**
Col R M L Colville TD DL A J Moore D Maksymiw Lt Col D R J Young TD DL P Walden B H Brotherton MBE Cllr G Graham
## **Independent Examiner**
Woodford Norman Accounting Limited 7 Kevern Close Wigston Leicester Leicestershire LE18 2GR
Page 2
Leics & L'Shire War Memorial Foundation
Report of the Trustees for the Year Ended 30 June 2025
## **REFERENCE AND ADMINISTRATIVE DETAILS Solicitors**
Rich & Carr Freer Bouskell PO Box 15 24 Rutland Street Leicester LE1 9GX Approved by order of the board of trustees on .........................................2026 and signed on its behalf by:
........................................................................ A J Moore - Trustee
Page 3
Independent Examiner's Report to the Trustees of Leics & L'Shire War Memorial Foundation
## **Independent examiner's report to the trustees of Leics & L'Shire War Memorial Foundation**
I report to the charity trustees on my examination of the accounts of Leics & L'Shire War Memorial Foundation (the Trust) for the year ended 30 June 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs Yvonne Woodford
Woodford Norman Accounting Limited 7 Kevern Close Wigston Leicester Leicestershire LE18 2GR
16 March 2026
Page 4
Leics & L'Shire War Memorial Foundation
## Statement of Financial Activities for the Year Ended 30 June 2025
|Unrestricted
funds
Notes
£
**INCOME AND**
**ENDOWMENTS FROM**
**Charitable activities**
Property Rents
-
Investment income
2
-
**Total**
-
**EXPENDITURE ON**
**Charitable activities**
3
Property Rents
-
Net gains/(losses) on
investments
651
**NET**
**INCOME/(EXPENDITURE)**
651
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
150,239
**TOTAL FUNDS CARRIED**
**FORWARD**
150,890|General
fund
£
43,492
6,965
50,457
39,460
-
10,997
10,389
21,386|Restricted
Endowment
funds
funds
£
£
-
-
-
-
-
-
-
-
-
(13,100)
-
(13,100)
2,000
301,489
2,000
288,389|Total
funds
£
43,492
6,965
50,457
39,460
(12,449)
(1,452)
464,117
462,665|
|---|---|---|---|
The notes form part of these financial statements
Page 5
Leics & L'Shire War Memorial Foundation
## Balance Sheet 30 June 2025
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
5
-
Investments
6
150,890
150,890
**CURRENT ASSETS**
Cash at bank
-
**CREDITORS**
Amounts falling due within one
year
7
-
**NET CURRENT ASSETS**
-
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
150,890
**NET ASSETS**
150,890
**FUNDS**
8
Unrestricted funds
Restricted funds
Endowment funds
**TOTAL FUNDS**|General
fund
£
-
-
-
22,385
(999)
21,386
21,386
21,386|Restricted
Endowment
funds
funds
£
£
-
51,960
2,000
236,429
2,000
288,389
-
-
-
-
-
-
2,000
288,389
2,000
288,389|Total
funds
£
51,960
389,319
441,279
22,385
(999)
21,386
462,665
462,665
172,276
2,000
288,389
462,665|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on .........................................2026 and were signed on its behalf by:
.............................................
R M L Colville TD DL - Trustee
The notes form part of these financial statements
Page 6
Leics & L'Shire War Memorial Foundation
Notes to the Financial Statements for the Year Ended 30 June 2025
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
The Endowment Fund and the Special Reserve Fund were established by a Court Order in 1956, and the restrictions placed on capital and incomes as set out in the notes.
Unrestricted fund represent rents received and other incoming resources received or generated for expenditure on the general objectives of the Charity.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **2. INVESTMENT INCOME**
Income from Investments
£ 6,965
continued...
Page 7
Leics & L'Shire War Memorial Foundation
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
## **3. CHARITABLE ACTIVITIES COSTS**
|**CHARITABLE ACTIVITIES COSTS**||||
|---|---|---|---|
||Direct|Support||
||Costs|costs|Totals|
||£|£|£|
|Property Rents|36,734|2,726|39,460|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2025.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 June 2025.
## **5. TANGIBLE FIXED ASSETS**
|**COST**|Freehold
property
£|
|---|---|
|At 1 July 2024 and 30 June 2025|51,960|
|**NET BOOK VALUE**||
|At 30 June 2025|51,960|
## **6. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 July 2024
Revaluations
At 30 June 2025
**NET BOOK VALUE**
At 30 June 2025|COIF -
Income &
Acc
Shares
£
384,611
(13,100)
371,511
371,511|Schroder's
In Mgmt
Ltd
£
17,157
651
17,808
17,808|Totals
£
401,768
(12,449)
389,319
389,319|
|---|---|---|---|
All investments are UK investment assets.
Cost or valuation at 30 June 2025 is represented by:
|Valuation in 2024
Valuation in 2025|COIF -
Income &
Acc
Shares
£
384,611
(13,100)
371,511|Schroder's
In Mgmt
Ltd
£
17,157
651
17,808|Totals
£
401,768
(12,449)
389,319|
|---|---|---|---|
continued...
Page 8
Leics & L'Shire War Memorial Foundation
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
## **6. FIXED ASSET INVESTMENTS - continued**
If COIF & Schroder's had not been revalued they would have been included at the following historical cost:
£ Cost 333,409 COIF & Schroder's valued on fixedf asset investment basis on 30 June 2025 by mid market value.
## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Other creditors
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
COIF Charities
Schroder's Investment
**Restricted funds**
Special Reserve Fund
**Endowment funds**
Freehold Land
Freehold Buildings
COIF Charities
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
50,457
Schroder's Investment
-
50,457
**Endowment funds**
COIF Charities
-
**TOTAL FUNDS**
50,457|At 1.7.24
£
10,389
133,082
17,157
160,628
2,000
2,692
49,268
249,529
301,489
464,117
Resources
expended
£
(39,460)
-
(39,460)
-
(39,460)|£
(1)
1,000
999
Net
movement
At
in funds
30.6.25
£
£
10,997
21,386
-
133,082
651
17,808
11,648
172,276
-
2,000
-
2,692
-
49,268
(13,100)
236,429
(13,100)
288,389
(1,452)
462,665
Gains and
Movement
losses
in funds
£
£
-
10,997
651
651
651
11,648
(13,100)
(13,100)
(12,449)
(1,452)|
|---|---|---|
## **8. MOVEMENT IN FUNDS**
continued...
Page 9
Leics & L'Shire War Memorial Foundation
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
## **8. MOVEMENT IN FUNDS - continued**
All activites of the Charity are classified as continuing.
The funds held by the Foundation comprise:
Income Fund which is unrestricted, the Special Reserve Fund and the Endowment Fund which are restricted but only in accordance with the Charity's Constitution,
## **9. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 June 2025.
Page 10
Leics & L'Shire War Memorial Foundation
Detailed Statement of Financial Activities for the Year Ended 30 June 2025
|**INCOME AND ENDOWMENTS**
**Investment income**
Income from Investments
**Charitable activities**
Property Rents
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Upkeep of Property
Rates and water
Insurance
Light, Heat & Power
Hon Secretary's Honorarium
Sundries
**Support costs**
**Governance costs**
Auditors' remuneration for non audit work
Legal Fees
Total resources expended
**Net income before gains and losses**
**Realised recognised gains and losses**
Investments
**Net expenditure**|£
6,965
43,492
50,457
29,290
2,836
2,726
720
850
312
36,734
900
1,826
2,726
39,460
10,997
(12,449)
(1,452)|
|---|---|
This page does not form part of the statutory financial statements
Page 11