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2020-10-31-accounts

REGISTERED COMPANY NUMBER: 00157888 (England and Wales) REGISTERED CHARITY NUMBER: 223625

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

Scott & Wilkinson LLP Chartered Accountants Dalton House 9 Dalton Square LANCASTER LA1 1WD

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

----- Start of picture text -----
Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Notes to the Financial Statements 11 to 20
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WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 OCTOBER 2020

Trustees Mr T G Bowring - President Revd R A Canham (resigned 20/5/2020) Mrs S M G Charles Colonel P E Dew Dr D M Elliott - Vice Chair Mrs J P Hardy Mrs C A M Johnson Prof M McIllmurray Colonel C W Owen - Chair Mr S J Quick (appointed 25/1/2021) Mr A Rickards Collinson - Treasurer Wg Cdr C J Tomlinson Mr W I Weir Registered office 1 Sir Thomas Storey House West Road LANCASTER LA1 5PE Registered company number 00157888 (England and Wales) Registered charity number 223625 Independent examiner Scott & Wilkinson LLP Chartered Accountants Dalton House 9 Dalton Square LANCASTER LA1 1WD

Page 1

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER (REGISTERED NUMBER: 00157888)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2020. 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 charity has two enduring objectives, for the public benefit, each underpinned by a number of aims.

Objective 1. The relief of those in need by reason of disability, ill health, financial hardship or other disadvantage by:

Aim 1. Providing a range of quality, affordable, rental accommodation to the Armed Forces Community. Aim 2. The provision of welfare support to residents of Westfield Village and to relieve need by providing financial support, as appropriate, and where public funds are not available or cannot be provided in a reasonable time. Aim 3. The disbursement of funds to charities and other organisations that support the Armed Forces Community.

Objective 2. The advancement of community development, education, culture and heritage by:

Aim 4. Providing Sir Thomas Storey House as a Community Centre for the residents of Westfield Village. Aim 5. Supporting residents of Westfield village in their community activities and maintaining the environment and ethos of the village.

Public benefit

The trustees have taken due cognisance of the Charity Commission's advice on public benefit with reference to its supplementary benefits guidance on the prevention and relief of poverty. We are pleased to report that we had no serious incidents within our Charity requiring the attention of the Charity Commission.

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievement and performance Review of the year

The dominating feature of this reporting year has without question been the coronavirus pandemic. Much activities have had to stop or be seriously curtailed in order to comply with government requirements. Despite the challenges, routine management has not stopped, and we have made significant changes in the way we do business and support the village and its residents.

Firstly, looking at governance, we have a new chair of the Council for the first time in ten years. We thank the outgoing chairman, Dr David Elliott, for his commitment and dedication. His concern and passion for the village and its inhabitants have been the hallmark of his time in office he has provided a shining example of unstinting dedication and commitment. We are fortunate that he is remaining as a trustee and has become Vice Chair, where his experience and sage counsel will be of great benefit.

Our new chair has initially focused on governance and has overseen a review of our policies and procedures making them more efficient and streamlined. Council meetings now take place quarterly, which ensures there is no loss of momentum and knowledge is not lost. Committees have been revamped and streamlined, allowing them to focus on particular areas, if necessary.

Page 2

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER (REGISTERED NUMBER: 00157888)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020

Achievement and performance

The work of the Secretary has been rebalanced with the emphasis on support to the Council and less on the delivery of village activities. This is not to undermine the importance of these activities, but rather to encourage greater resident participation. A new Residents Association committee has been elected and to facilitate its greater engagement we have sought to channel Council funding for activities through this body. In furtherance of this direction of travel we have appointed two trustees as village ambassadors, their role is to forge closer links with the Residents Association providing assistance support and guidance where necessary and improving communications between them and the wider Council. With less direct responsibility for village activities, the Secretary also has more capacity to support the chair, trustees and Council in the discharge of our governance responsibilities.

As a council, we are very conscious of the welfare and social needs of our residents and seek to make life on the village an enjoyable and rewarding experience. An example of this is the introduction of a decorating allowance, which will provide funds to assist residents, especially those new to the village, to improve the internal appearance of their homes. Additionally, we provided extra funds to the Residents Association to facilitate community activities, especially over the Christmas period, in order to mitigate some of the impact of COVID-19 measures.

Beyond the village, we have continued to support other charities and organisations, who in their turn support the Armed Forces community. In particular, we have maintained our practice of making a sizeable grant to the Duke of Lancaster's Regiment, our local Regiment, and the descendants of the King's Own Regiment who were involved at the very start with the creation of the village. Other charities we have supported include SSAFA, Combat Stress, The Not Forgotten Association and our local foodbank. We have also made a grant to the Lancaster Military Heritage Group. All of this work underlines our commitment not only to support the wider Armed Forces community but also our local community. We were also fortunate to receive a government grant through the local authority to assist the charity in its work. This small business grant of £10,000 has been used for COVID-19 measures, such as improving our ability to work from home and also for the benefit of the residents.

We have also sought to improve further our relations and partnership with TGP, who lease the village from us and manage it. This is evidenced by the fact that we have successfully and amicably renegotiated the ten-year rent review with TGP. We have also revised the management agreement between ourselves, changing it from an opaque legalistic document to one that is easy to read and clearly defines responsibilities. We expect the new document to be formally ratified by both parties in the very near future. The document also sets out a formal structure of meeting with TGP where we can share ideas and address issues. The benefit of this work is already being felt.

I should also formally note the retirement of the Rev Robert Canham from the trustees after ten years on the Council. He has been a stalwart Council member and his calm, sage advice and experience will be greatly missed. However, we are fortunate that he has agreed to continue to provide us with support to village services when needed. In the near future, we will be welcoming Stephen Quick as a new trustee and we are sure that with his financial background in investment management he will be of great benefit into the future.

Finally, we look forward to emerging from the pandemic and to facing 2021 with confidence, buoyed by both the success of the changes we have made this year, and having demonstrated our ability to manage the challenges thrown at us.

Page 3

WESTFIELD WAR MEMORIAL VILLAGE

- LANCASTER (REGISTERED NUMBER: 00157888)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020

Financial review

Reserves policy

The charity maintains sufficient free reserves to continue operating for a year and to cover major repairs. Any surplus funds may be paid out by way of grants in future years. Free reserves as at the year-end were £1,955,989 (2019 - £2,101,737), of which £1,763,670 (2019 - £1,965,438) is held as investments to generate income for the charity.

Structure, governance and management

Governing document

The charity is governed by its Memorandum and Articles dated 12 August 1919, as amended by special resolutions on 31 March 1950, 29 July 1957, 17 January 1983 and 7 October 2013.

The charity constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles of Association. Under the requirements of the Articles of Association members of the Charity may be elected to serve as a trustee and become a member of the governing Council. At each annual general meeting one-third of all, or nearest number to one-third, must retire from office. If eligible to do so they may offer themselves up for re-election.

Due to the varied nature of the charity's work with the Armed Forces Community, the Council seeks to ensure that the needs of this group are appropriately reflected in the trustees' makeup, whilst also seeking wider diversity.

The more traditional business, housing and welfare skills are well represented on the Council. In an effort to maintain this broad skill mix, trustees are requested to provide a list of their skills and experience. In the event of particular skills and experience being lost due to retirements, individuals are approached to become trustees and maintain our skill sets.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity will be set out in the accounts.

Page 4

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER (REGISTERED NUMBER: 00157888)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020

Structure, governance and management

Organisational structure

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles of Association. Together they form the Westfield War Memorial Village (WWMV) Council, which manages the charity and oversees the village.

The Council is currently made up of eleven trustees who meet quarterly and are responsible for the strategic direction and policy of the charity. The members are drawn from a variety of professional backgrounds relevant to the work of the charity. The charity's secretary sits on the Council but is not a trustee and has no voting rights.

The Council meets at least twice per year in Ordinary Council Meetings (OCMs), however, in the last year it has met quarterly, and this pattern will continue for the foreseeable future. One meeting, usually in March, is preceded by an Annual General Meeting (AGM). Additionally, following this meeting the day will close with the Annual Residents Forum. With recent changes in the way we engage with the village, the need for such a forum will be reviewed.

The day-to-day responsibility for running the charity rests with the Secretary, overseen by elected Council Officers: the Chair, supported by the Vice Chair and Treasurer. In addition, two trustees have been elected as 'Village Ambassadors' to liaise closely with the Residents' Association to guide, assist and support them in their activities and provide an easily accessible link with the Council.

Under the requirements of the Articles of Association, members of the charity may be elected to serve as a trustee and become a member of the Council. At each AGM one-third of trustees must retire from office. However, if eligible, they may seek re-election. Therefore, trustees serve for three years up to a maximum of nine years. Trustees who are elected as officers can serve two three-year terms in their post.

The Articles of Association allows the delegation of powers. We currently have a Finance Sub Committee made up of three designated trustees and a Policy Sub Committee made up of at least five designated trustees. They meet when necessary throughout the year to discuss issues as delegated at the Ordinary Council Meetings or to address issues that arise between meetings that need more immediate attention.

Induction and training of new trustees

Most trustees are already familiar with the practical work and organisational structure of the charity having been encouraged to attend a meeting of the trustees, meet with the Chairman and Secretary and attend some charity events. These help them to familiarise themselves with the charity's policies and the context within which it operates.

Trustees are also provided with:

Page 5

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER (REGISTERED NUMBER: 00157888)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020

Structure, governance and management

Risk management

The trustees are asked to identify any risks to the charity at each OCM. Additionally, a formal bi-annual review is conducted at the March and September OCMs as part of our s strategic risk management plan.

Appropriate procedures have been established to mitigate and address risks the charity faces. As evidence, significant external risks to finances have been identified, which have led to the diversification of investment funds into three separate and quite different funds as mitigation.

Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, residents and visitors to the office and community facilities. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.

Approved by order of the Council 15 March 2021 and signed on its behalf by:

Colonel C W Owen - Chair - Trustee

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

Independent examiner's report to the trustees of Westfield War Memorial Village - Lancaster ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Mr S W Hinnigan FCA CTA Scott & Wilkinson LLP Chartered Accountants Dalton House 9 Dalton Square LANCASTER LA1 1WD

4 May 2021

Page 7

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2020

Notes
Income and endowments from
Donations and legacies
Charitable activities
Housing and welfare at Westfield Village
Other trading activities
2
Investment income
3
Total
Expenditure on
Raising funds
4
Charitable activities
5
Housing and welfare at Westfield Village
Relief of such persons in need or hardship
To aid and support charitable organisations
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 2020
Unrestricted
funds
£
10,254
15,000
13,628
63,500
102,382
12,198
61,860
1,118
14,130
89,306
(134,059)
(120,983)
3,328,151
3,207,168		 2019
Total
funds
as restated
£
543
15,000
13,814
67,905
97,262
11,973
74,361
-
11,561
97,895
111,566
110,933
3,217,218
3,328,151

The notes form part of these financial statements

Page 8

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER (REGISTERED NUMBER: 00157888)

BALANCE SHEET 31 OCTOBER 2020

Notes
Fixed assets
Tangible assets
14
Investments
Investments
15
Investment property
16
Current assets
Debtors
17
Cash at bank and in hand
18
Creditors
Amounts falling due within one year
19
Net current assets
Total assets less current liabilities
NET ASSETS
Funds
20
Unrestricted funds
Total funds		 2020
Unrestricted
funds
£
1,141,179
1,763,670
110,000
3,014,849
2,106
195,637
197,743
(5,424)
192,319
3,207,168
3,207,168
3,207,168
3,207,168		 2019
Total
funds
as restated
£
1,139,914
1,965,437
86,500
3,191,851
1,580
139,335
140,915
(4,615)
136,300
3,328,151
3,328,151
3,328,151
3,328,151

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 9

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER (REGISTERED NUMBER: 00157888)

BALANCE SHEET - continued 31 OCTOBER 2020

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

The financial statements were approved by the Board of Trustees and authorised for issue on 15 March 2021 and were signed on its behalf by:

Colonel C W Owen - Chair - Trustee

The notes form part of these financial statements

Page 10

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. 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.

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.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% Reducing balance Computer equipment - Straight line over 3 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Page 11

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

1. Accounting policies - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Property managed by agents

All the housing properties owned by Westfield War Memorial Village - Lancaster are managed by The Guinness Partnership (TGP) under a 70 year lease from 11 November 2010. As all the financial risk lies with TGP, in accordance with recommended practice the income and expenditure arising from the property is excluded from these accounts. The Statement of Financial Activities includes only that income and expenditure which relates solely to Westfield War Memorial Village - Lancaster.

2. Other trading activities

Letting of offices
Management charges receivable		 2020
as
£
10,500
3,128
13,628		 2019
restated
£
10,534
3,280
13,814

3. Investment income

Investment income
Deposit account interest		 2020
as
£
63,370
130
63,500		 2019
restated
£
67,905
-
67,905

Page 12

WESTFIELD WAR MEMORIAL VILLAGE

- LANCASTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

4. Raising funds

Investment management costs

Portfolio management
5.
Charitable activities costs
Housing and welfare at Westfield
Village
Relief of such persons in need or
hardship
To aid and support charitable
organisations
6.
Grants payable
Relief of such persons in need or hardship
To aid and support charitable organisations
The total grants paid to institutions during the year w
The Duke of Lancaster's Regiment
Combat Stress
Not Forgotten Association
Westfield Residents' Association
British Legion
Sea Cadets
Air Cadets		 2020
as
£
12,198
Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
6)
note 7)
£
£
£
33,558
-
28,302
-
1,118
-
-
14,130
-
33,558
15,248
28,302
2020
as
£
1,118
14,130
15,248
as as follows:
2020
as
£
8,000
1,000
1,000
3,980
50
50
50
14,130		 2019
restated
£
11,973
Totals
£
61,860
1,118
14,130
77,108
2019
restated
£
-
11,561
11,561
2019
restated
£
8,000
1,000
1,000
1,336
125
50
50
11,561

Page 13

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

7. Support costs

Support costs
Governance
Finance costs Totals
£ £ £
Housing and welfare at Westfield Village 212 28,090 28,302

8. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

2020 2019
as restated
£ £
Depreciation - owned assets 1,729 1,588

9. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.

10. Staff costs

The average monthly number of employees during the year was as follows:

2020 2019
as restated
Charitable activities and governance 1 1

No employees received emoluments in excess of £60,000.

The total employee benefits of the key management personnel of the Charity were £26,308 (2019 - £26,654).

Page 14

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

11. Comparatives for the statement of financial activities
Unrestricted
funds
as restated
£
Income and endowments from
Donations and legacies 543
Charitable activities
Housing and welfare at Westfield Village 15,000
Other trading activities 13,814
Investment income 67,905
Total 97,262
Expenditure on
Raising funds 11,973
Charitable activities
Housing and welfare at Westfield Village 74,361
To aid and support charitable organisations 11,561
Total 97,895
Net gains on investments 111,566
NET INCOME 110,933
Reconciliation of funds
Total funds brought forward 3,217,218
Total funds carried forward 3,328,151

Page 15

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

12. Prior year adjustment

Property rented out under operating leases has been re-classified as Investment Property under SORP 2019. This has resulted in the following changes to the comparative figures:

Originally Amended
reported figures
£ £
Tangible fixed assets 1,226,414 1,139,914
Investment property nil 86,500

13. Independent examiners remuneration

The independent examiners remuneration amounts to an independent examination fee of £3,787 (2019 - £3,676).

14. Tangible fixed assets

Cost
At 1 November 2019
Additions
At 31 October 2020
Depreciation
At 1 November 2019
Charge for year
At 31 October 2020
Net book value
At 31 October 2020
At 31 October 2019		 Freehold
property
£
1,132,066
1,650
1,133,716
-
-
-
1,133,716
1,132,066		 Fixtures
and
fittings
£
29,561
-
29,561
22,392
1,078
23,470
6,091
7,169		 Computer
equipment
£
2,186
1,344
3,530
1,507
651
2,158
1,372
679		 Totals
£
1,163,813
2,994
1,166,807
23,899
1,729
25,628
1,141,179
1,139,914

Page 16

WESTFIELD WAR MEMORIAL VILLAGE

- LANCASTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

15. Fixed asset investments

Market value
At 1 November 2019
Additions
Disposals
Revaluations
At 31 October 2020
Net book value
At 31 October 2020
At 31 October 2019
There were no investment assets outside the UK.
16.
Investment property
Fair value
At 1 November 2019
Revaluation
At 31 October 2020
Net book value
At 31 October 2020
At 31 October 2019		 Listed
investments
£
1,965,437
153,786
(197,117)
(158,436)
1,763,670
1,763,670
1,965,437
£
86,500
23,500
110,000
110,000
86,500

The fair value of the investment property has been valued by a professional valuer at £110,000 (2019 - £86,500).

17. Debtors: amounts falling due within one year

Trade debtors
Prepayments		 2020
2019
as restated
£
£
1,250
1,250
856
330
2,106
1,580

Page 17

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

18. Cash at bank and in hand

Cash in hand
Bank account
Investment cash account
Total		 2020
Total
funds
£
-
130,157
65,480
195,637		 2019
as restated
Total
funds
£
50
103,701
35,584
139,335

19. Creditors: amounts falling due within one year

Trade creditors
Social security and other taxes
Other creditors
Deferred income
Accrued expenses		 2020
2019
as restated
£
£
134
641
1,433
357
207
-
1,750
1,750
1,900
1,867
5,424
4,615

20. Movement in funds

Unrestricted funds
General fund
Fair value reserve
Revaluation reserve
TOTAL FUNDS		 At
1/11/19
£
1,268,223
959,830
1,100,098
3,328,151
3,328,151		 Net
movement
in funds
£
13,076
(134,059)
-
(120,983)
(120,983)		 At
31/10/20
£
1,281,299
825,771
1,100,098
3,207,168
3,207,168

Page 18

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

20. Movement in funds - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fair value reserve
TOTAL FUNDS		 Incoming
resources
£
102,382
-
102,382
102,382		 Resources
expended
£
(89,306)
-
(89,306)
(89,306)		 Gains and
Movement
losses
in funds
£
£
-
13,076
(134,059)
(134,059)
(134,059)
(120,983)
(134,059)
(120,983)

Comparatives for movement in funds

Unrestricted funds
General fund
Fair value reserve
Revaluation reserve
TOTAL FUNDS		 At
1/11/18
£
1,268,856
848,264
1,100,098
3,217,218
3,217,218		 Net
movement
in funds
£
(633)
111,566
-
110,933
110,933		 At
31/10/19
£
1,268,223
959,830
1,100,098
3,328,151
3,328,151

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fair value reserve
TOTAL FUNDS		 Incoming
resources
£
97,262
-
97,262
97,262		 Resources
expended
£
(97,895)
-
(97,895)
(97,895)		 Gains and
Movement
losses
in funds
£
£
-
(633)
111,566
111,566
111,566
110,933
111,566
110,933

Page 19

WESTFIELD WAR MEMORIAL VILLAGE - LANCASTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020

21. Related party disclosures

There were no related party transactions for the year ended 31 October 2020.

Page 20