REGISTERED COI•ANY NUMBER: 00469470 (England and Wales) REGISTERED CHARITY NUMBER: 241516 REPORT OF THE TRUSTEES AND FINANCIAL STATEPAENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR THE WAR MEAIORIAL VILLAGE-DERBY
THE WAR MEMORIAL VILLAGE-DER8Y CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 R•port ol th? Tru$i 1 to 5 Report ofth• Ind•pèndtht Audltor4 6 to 9 St•tem•nt of Financial Activltles 10 8danc• Sh••t Notes to the Flnanclal Statements 12 10 22
THE WAR MEMORIAL VILLAGE-DERBY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The twslees who are s0 direclcq5 of ihe charity kn the wr)ses of ihe Ccrfnpanies Act 2006. present Iheir report with the financAal siaternents of Ihe charity for the year eThJed 31 Marth 2024. The trustees have adopted the provisions ot Accounknr4J and Rep)W by Charib8s." Staiém8nt of RecomThtwJed Prxtice ¥Jplicabl8 to charittas prepariro th8ir accoLmts in accordance with Ihe Financial Repcrfiwy standa aFble in the UK aThJ RepuNic of Ireland {FRS 1021 leffecb've 1 January 20191. OBJECTIVES AND ACTIVITES Oblectlvas and alms The prime ot¥'ective ol the chaiity is to own. op8rat8 mantan an erlav8 ol hwjh 9radè housing in th8 Cty of Derby specfficalty for benefit of di$abled fomw HM For[. Ihg Ern9WGy Sprvmxs othgws whom the trusl¢e$ shall twne to b'me dew Drthy of irMJug1m. In th8 Iwth8rarth of its obi8dNa charty slrwes to.. . prowde mofts 98n&ral non.resKlenlwl fyliefof noed for benefu. . 8ng48 k) Other tharitth thal 98rat¢S fur k) be awed ifirectty in furtherdrKe ofthtr prime objgcbve; - ¢Ol¥J8rat& vAlh olh8r (arllias. èx.sÉThè ¢entsal arKJ i(Kal govemment #ulhMties, private orporati¢Th. and lson5 in smilar viDe8. aTrJ . sppty th8 wholè of Ihe materlal and ffinancial res(MJr¢es of Ihe iwrity. wher-S0 ever arKI how-so ever (kn¥ed. The tharity mawilains h8thy fin8rKial (ww8tiMJ rewve 8¢¢ounts estsNid to Secre the aims pffjvroUY slated. Thes¢ finry¥l wp ffK>nitored armj aLKted by acccwnlants and legal athiseTr. Thè charitable con¥)any is manage<1 by a ly)aril of Ikerxorsthslees who are all volunleers wFwle the estate is managed and maintained by r managirtg agènts- Derby Hcffts Lim&e(l- the s(Mial departrneni of Derby Cty CouncAI. Tru8te•s AM dlrectfNsI trustees are YnteerS aNI tske IK) remunwalion exi the reirthrsemenl of travel expenses and buary. Publlc bonefit The trustees have gwn due rw to pubk bengfrt i65ue(J by the ChlS Cornmission when re¥Aewlng hs alms and ObveS pknrNng As described under obitiveS and acbwlies. the dritY is committéd to provithg and marttaining hhJh gradè soeAal housing in the City of Dwby, within the sch&me known a$ War Merrw)rial Villa90 Drby. spe¢tfKalty fgr Ihg b$nefft of disabled forner members of HM ForS. the Emergew ServKes and otsr5 whorn the trusleos shall from b.me lo thlne deem worlhy of inclusic. The tnjslees review the l¥teS of Ihe charity agawtsl its ams an onwing bas and are satisfiad that all activibes contlnug lo be rdaled to its aims. ACHIEVEMENT AND PERFORldANCE Charltable actlvltl•s The board of direclorsltrustees has maintained th• estatè ui 8xcdl8nt conthlion thr{K clos8 coopèration with t managlng agents, Derby HCeS Limited and by pruthnt of op9rating and ffjsorv¢ finawal rosources. We have eStaiShed have been wothing lo a 30-year ¢xrt&ne strategy lh MbineS malntenance and developMent with detailed budgeted action for the short [In yearl and medwjn tums [ie k) 5yisl. The trAet is drafted each year and passed by Ihe tr)ard of (hCtorSrustee$. Subiect•d to cont1OuS monitoring by thè Chalmian aThl Trèasurar, p8ri0 updates Iling Iofecast of ¢ttuM a psented at ea¢h warterfy m8ekn.ng of dWe¢t(KthSt$. Much of the year was laken up by the debate bemwn Ihe knjstees rm effects of Ihe Pandemic. fOrtOrning changes in legislalJn both in 2025 2030 which wli requke svjniknnt investment the futu of the vlllage. and its residenls was paramot. Although the charity has recovwed fr(Mn the Pandèmlc #i purely financial t•m)s. Ihe loss ofthè income during COVID and subsequent "catch up" %Jith mayrtenancè iSsL$ wilh ihe On income bein9 received by ihg charty bel the rental inCcrE li was Car that the fijtU of ihe vilage cojld noi be sustained in its current fomiat. Having taken advice from OLY solicitors the trLtstees have decKfjed to PUtsL Ihe most wable option vknlch pselVeS the War Memorial Village and protects its derts into ihe forttrthThng year and the tntstees will base their decision on fvlure negob'ations. P)8 I
THE WAR MEMORIAL VILLAGE-DERBY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
Flnanclal posltlon
The results for the year th)w a sUS on Unr8striC fijnds of £75,69912023: £67.1251 and a deficit on restricted funds
01 £29.23212023." def11 £29,232). The ovefall surpkts lor Ihe year annted to E46.46712023: £37.8931.
Unrestricted fijnds as at 31 March 2024 totaled £5.lJ31.9)712023: £5.0162981 of whth £3,710.447 rdated io a propety
revaluation reserve {2023.' £3.720.6491.
Restrictad funds a$ at 31 March 2024 tolaled £216.19312023: £245.4251.
Prlnclpal fundlng soure•s
The priwpal s
THE WAR MEMORIAL VILLAGE-DERBY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Go¥•rnlng d¢xument Th8 War oi1a1 Vllag8 t18Y is govemed by ts MernrKan Athles of Asscaation and is a cornpany limiled by guarants8. liability of memb8r is liTrMt•J to an amount nrt exc £1. The Chanty ha$ a Board ofTrustees ch 0 cortsblutes ofthe cCrfnY R•erultm•nt and appolntm•nt of n•w trust••s Tmstaès ar8 sélected on IhÈ basK% of speu8%st kn(eth3 Fw8¥10 eyrie0 in DirectcfThrustee - type roles. esp8oialty Trithin Ih8 sc¥>al hou5iry and milrtary seLtow& Pol¢nbal I1[frust8es are inteThth%wd by thè serv•¥J Board aNI decli(m is by wboffKe DIrectcrUSteeS based c merit and prOfesOnal ¢onirtJuliort of Ihe ¢andKlate. Inductlon and trainlrwj of tru5t•os The Trustees regularly conveng a governan SWT¥nar (lefv1 by indepermlent SL1 matter expert for the puwe of updabng the knovAedge base 4Mlh regard lo btest Chant$ and Companies leglslatjon and to disCUS5 good ta¢ti¢e. der nelwo The charity mwntains a dose relaknship V&ith ex-servrk ¢xrJwmSabw through I1 reF¥esgntslives. The charity maintsins a dose ffjlation$hp Derby D8ttysh#è Oisablèd Soldlers. Setdement for th8 purpos of allèviatiny distress via financial awst8rt8 kneAIy. Rlsk magement The trustees have a duty to Klenthfy and risks to whth the d)arity k8 ex arml to 8nwre approprlatè cMlrols arè in rAae lo rrfo¥• rè8son8bl• against Iraud and error. The Board has in m8nwJe1rnt kxjh'w rryul8rty asse&ses okwabry al finan¢ial risks advised by the managry wJents- Derby Hornes Lirnf(ed. REFERENCE AND ADM1141STRATIVE DETAILS R•gl$t•rod Company number 00469476 (England and Wales) Rogl$torod Chority numb¢r 241516 R•gl$t¢r•d 0ffi¢o 81 Burt Ro Derby Dèrbyshire DE1 1TJ HaNey J8nnings John J8nningS Jonathan Smale Nomia 8eWell Mlcky Doyle Gn K8amey Ilel Marn Ross M¢Cristal Ajan Grimadell Andrew Wall ChaImn Vice Chairman TJr resw 17 May 2023 The Mayor of Dwby 1$ the Pident ofts ¢hanty * is an Ex-offw ty Thitalw)n. Conyany Secretary H Jenr4ngs
THE WAR MEMORIAL VILLAGEERBy REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Audltors jOS0n Tldsall Limf(ed Chart8f8d AccoltantS & Statutory Auditor 81 Burton Road Dert)y Dert)yshirÈ DE1 1TJ Bkern HSBC Victw Road. Dèrt)y Derbysh DE24 9HX Charity Bar LirT¥ted Fo$sè House 182 Hah Street Tonbridge TN9 IBE SollcltorB Freelh carjh1 Cardinal Square 10 NottirYJham Road Derby DE13QT Mr Jonathan Srnale and Mr Haryey JeM1Th resportsibkn fry ts for day-tw manwmnl of the charity thrOuoUt the year. EVENTS SINCE THE END OF ThE YEAR Informalign Telatwy lo events snce Ihe eThJ of ihe year is uiven Ihe Tr)t8s to thè finandal stat8m8nts. STATEMENT OF TRUSTEES. RESPONSI8ILmES Thè trustéés (who art #180 the drectors of The War Mernimlal Vmlageikty for the purposes of company law) are r¢spwsiblg for preparing the Report of the Trusiees aTrJ ihe fanCIal StateMlS in accordance with applca)le law and United King(kMn A¢coLntsng Stsndards {United K¥yJcffi Generalty Accepted ACcOting PYack81. Comp8ny18w rnquirès the trustees to Prepare financial statements foreach fmanc4al year whi¢h gtv¢ a tru¢ arKI fair view of Ihe statg of affairs of the ¢h8rilat4é Mpar and ol the inccrfr4ThJ resrceS and applkation of resources. including the in¢ome and eXKlure. of Il charitabl8 company that pen(. In prepariThJ tse finaJaI statèments. th8 tru$le8$ are qUired lo sel8Ct suMabt8 8ccounting peAKies 8nd then appty them con9st. ob Ihg meth(Kls 8rKI principles in the Charity SORP: make I19Merb1S and eslThates that are reasonatAe aThJ pnhJenL prepare the financ1 statements the going concem bas.s unless it 1$ ¥)appropriat8 to wesume that lh8 ctharit8ble company WIM continuè IxJswss. The trustees are r8sponsible for keepThJ proper ntiThJ reccKds Vthich dsclose with reasonable accuracy al any time the finawa position of the charilaLAe company and to enable them to ensure that the fThnaal statemènts comply wth the Companles Act 20. They are also responsble for safeguarth"ThJ the assets of Ihe company and hancè for taking roasonabl8 stS frjr thè rmentiffi and dei)n offra1 and other irreguLalit. In so far os thg trus1895 are 8vrdre'. th&r8 is M relevant aut1 Informat Qfwhh charAabk corrpany¥ wditors are Ltnaware: aThJ th8 trustées havè tskèn all step5 thal they 0h1 to have 12ken to make tlwnsefves avrfar¢ ol arby relevant audit Snfom)abon and lo estsblish Ihat the 8v¢*tors are avmre of Ihat informthn.
THE WAR MEMORIAL VILLAGE-DERBY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ThSs port has been ppared in a¢(ordarh thg wial woviwns of Part IS ofthe CompanS Act 2fy)6 relating to small compaThes. Approved by ordw of the t#)8rtJ oftwslees M 23 DOwnr2024 and sgned cffl ils behalf by.. H Jenni s-Tvu Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE WAR MEMORIAL VILLAGEERBy Oplnlon We have audited the financial StateMts of The War MeMla1 Vll&Je-Derby (the 'charitth companll for the year èndad 31 March 2024 vknich rA)nwrise the Statemenl of FinaThial ActNits. Ihe Balare Sheet arwj te5 to the ffinancial slatem6nts, includM)g a summary ol swJThficant attoLmb"ThJ poliaes. The fin¢137 pthIng framework that has been apled in their preparab'ijn is awli(¥blo l•v •NI Uiled ACcountij StarThlards (United Ktngdom Generally Accepted Accounling Practice). In our opinion finanual stsiements: give a true fair view of the state ol the affr5 as * 31 Mar¢h 2024 and of its inconw resources and application ol resources, inclu(Jvw ts iwKorne and oxpwKJilure, lor the year ended,. have been propety pared in vrtth Uniie(l Kingdfm Generalty Apted Acc(MmtiThJ Praclic8', aNI have been prepar&J in aCCordce vrith the wiirefflenls ofttE Crynparues A¢t2(K)6. Basls for oplnlon We Condlted ouraudit in acc4Jrdance V•ilh IntemallcaI Standards on (UK) IISAS IUKII ap(le law. Our $ponsibilities under ihose standards a fwther dexribed in the Auditors. responsbilibes for audit of the financial statements of our report. We we iThJepeThlent ol Ihe tharitable company in acts)rdu with thè èthical requirements that a relevant to OUT wAit of Ihe ffinaaal sialemenls in UK, dirj Ihe FRC'S ECHI SlaniJ8rd. and we have bjIled our er elhical respongbilits in acco{dar Ihese requiTemeTrts. We believe that the a4wJil idence we have obiained ts suffiaenl and appropriate to promde a ba$ for r opinion. Coneluslons r•latlng to golng ¢4¢n In auditing th8 finanaal ststiwits. wè have corKlud8d Ihat the trustee5' use olthe gJiThJ nCern of accounting In th8 pr8parati of thè ffinancial statèments is approFThIe. Based on the we have Ferfomied. have not idenlffd any material uncertainlies Iatg lo events or conClitnS that, Individual or collectivdy, may rast %gnfficant dOt on the charitaNe ccrfnpanrf5 abihty to conlinue a8 a goirvJ concèm for a WK)d of at lèast months frrxn Ihe fmancial statemts are authorised for issue. Our respons111$ and the $pC1ties of the trustses resFed to gthJ corKem are des(¥ibe(l Ihe relevant sactions ol this report. Oth•r Inlomiatlon The trustees a $)nsIt the 0r ifomiath)n. The other inf0mtion conyises the inforynation ilLe{l in the Annual Rep(rt other than the financlal ststem&Xs and cw Rem oflhe Independent AuditcKs thereon. Our opinion on th• fan¢al teMnts does not cover the oitw Infom11 and, except to Ihe exlent otherv+ise explicitty slated in pOrt. we th) Mt expwess any fonn of assurance ccxlusion there. In conneclion ow a11 of the ffinan(#al temenls. our responsii¥lty is lo read the other nfomialion and, in L•)IrYJ so. consid8r vthether th8 other infc¥mation is maleriamy inconsisient with the farla1 slalements. or our knoedge obtained in Ihe autht or otheiSe appears to be materiaty misslated. If we identhfy such material inconsistencies or apparent material ff#SstateMt$. we a required to detemmne whether ihis gve5 rise to a rnaterial rnIS$tsM8nl in the financial statements themseeS. If, based cfft the wcrfk we have perkymed. cY•nthd8 that Ihgre 15 a materi81 misstatement of this (Aher Infomiats"on. are r8quir•J lo report that lact. We have nolhing to report in this regard. Oplnlons on oth•r matt•r8 ry•scrlb•d by tho C<xnpankn Ad 2006 In our opinion. based on the undertaken n the ccJrse of the alit.. the infomiatlon given in the Report of the Trust8es lor ihe la1 year fijr the ffinanaal statements arè prépared is consistent wilh th8 financial slalements: the ReM of ihe Truslee$ ha$ been FKepared in applcatle legal re¢wiremenls. Mattors on whlch w• ar• requlr•d to YeprAI by excepl In Ihe Ilght ol th8 knowladge and uNl•rSdIng of the charitsbl8 ccrf and its envirment obtained in the course of tho a1t. we have ideMffied material mtsslalements in the Report of the TnAtees. We have nothin9 to port in spt of lo10Y mattetswhere the CeS Act 2006 reqLire5 US to report to you 11, kn our opinion.. ad8qlte accounting rec(Kds not b8en kept l[s adewate kn our authi have not Lwn receNed from bronches nol wsited by u$: or Ihe financial stslements are ncl in ¥greent with the accoJnlkvJ records and retwns., or certah) dlsclosures of tnjstees, renwnerth.on specffjd by Law we not made: or we havè not e1Ved all ihe infomialion aThJ exli0nS we requi for our •xlil', or Ihe iwstees We nol entitled to take vantJe ol Ihe small coTrwnies' exenplhjn from the requirernent to prepare a Strategic Report or in prepariTh3 the Report of the TruStS. Page 6
REPORT OF THE INOEPENDENT AUDITORS TO THE MEMBERS OF THE WAR MEMORIAL VILLAGE-DERBY Rèspon8lbllltl•• of trustws As explaned more fully Sn thè Stat&ment ol Tntstees. Re¥KJn9b1rt, the tnjstees l*fv) are also the directors of th8 charitable company for th8 purposes of company lawl respoNblÈ for ts preparnta)n of the fin8n¢i81 $tatsments and for beiry sab"sffied that they give a true and fair ¥. and for sLKh intemal control as the Irustees detennine is necessary lo enawe the prepardlw of fYwn¢41 statem1$1hat we free from matwial ff#SstatenI. %thelher due to fraud or error. In pr8p8ring thè fin8n¢ial st#temènls. the tree5 responsible for assessir4J the charitable conwany's a&illty lo continue as a going ccrn. dix4osing. as applcable. matters rdated lo goiThJ conc8m and US1t thè goino cowm basis of accOUnj unless ihe trustees either to liwidate thè tharitable compw or to c8aso op8rations, or have no realist alternaVe but to do so. P•Je 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE WAR MEMORIAL VILLAGE-DERBY Our r•$ponslWllt1 lor th• audlt of th• final ¥tatwrwnts Our objectives a to obtsin asonae 3$$Jae about whether Ihe finala1 slatements as a we are free from materlal mlsstatement, vthèther duè to or ermi. and to IS a Report of Ihè Independ8nt Authtors that ItKludes our opinion. Rèasonabk a$wrdnee is a high thl of xsswxne£ is 8 guatantèè that an audit condu¢ted in 8ccordance Yrith ISAS IUKI wil aayS detect a Materi misststerwt il exists. Misstatgmenls can aw frcrfn fr8U or errny and arp con5Klered materi rf. trKJivKJualty or in the aggreg8le. Ihey cwld reasonably be expeGteil to inflUere the e¢onornK deciwons of u8ers taken (n the iyasis of these staterwwts. The extent to which our prc¢e(#yes we Capa ofde1lIg frnud o deiailed bew. Irregularies. induding Iraud. are Stae5 of n(TrPhae with Ithv5 arwj Tegukgivjns. We (Jesign prrxedure5 in Ilne th our responsijilibes, jIned atl¥e. to de1 maleiial missialements in respect ol wre1illes, ¥KknJlng frajd. Because of the inherent lThilatiors of an auLIL there is a iisk thal Tr)1 detect all irregularities. inchJdiThJ those leadir4J to a material misstatement in tre finarKial statemerts or t•CoMlare with rg3th1)n. Th's risk increases the more ihat compliance with a law or re9ulabM is removed from the events and transaclions relknted in the financial stalements, as we V+ill be less likely lo tOme awe of instances of non<c¥nplIar. The risk is also greater regarding IrregularleS (tcwring due to fraLJ rather than error. as fra1 #ThoeS kntennal concealment. fcKgery, collusion. OMI0 or misTepresentalion. In identrfying and assessiThJ the risks of matérial nMssiaIemt in r8sp8ct of Ywulaiits. inchjding fraud and non.compliance ith laws and regulab"ons. Ihe fol¢)Mn9.' -Th& nalure and control 8nwronment of the thity -OLW discussions with Managent and swvernar ¥th8ther Ihoy of any a¢iual. susp8Gtgd ty alljed fraud -Th• intsmal controls to mitigate the rlsks of Follng our review. e hlentifd the areas a deen io have ts 9atest polential for fraud c material misslatement the fwRncial slate1$.. -The recognil)n of rnntsl IrMe -Third paity ccrffirnation ofownership of tide lo freehohl PfOFerty - Calculation of depreciation in accordance wilh the accounti79 - Work Caled out by ents In relaUcn to txomi maintenaKe - The risk of management override We also conwdw&J any laws aTrJ Ta[S Ihal central to the C(erati of chty i1ng charity law aThJ emFloyment law. The following W0de$ re undertn in respecl of the iisks wh8we J8ntifk the potential for matwial misstatement.. - Detailed rental summaries per woperty. wL1j renials in ararS pad in thance, were obtained from agents. A control COUnt was prepared. and total i1me was recorKld lo the fmanaal sialements. Rent increases were agreed to twstees. meeting ¥nUteS. . A sample of properties were tesbj to ten &3reents and welY rents agreed. . ¢)wnerslup of all freehold properties delailed n the drtabl8 conyr)Ys portfc4) was cmfimed Mth HM Land Registry. - Deweciathjn calculations based on Ccrfn[nenI xcountMYJ in respect of existirrfJ properties aml the new build WKler Phase 1 were tested to the accountyry pc4ry whth was by test¥vJ lo the re¢wirernents of the Dent Homes Siandard. - Delailed SCheIeS of work Ca1 oul per prcyety by tirj a9ents for the chaiitat4e company were rewewed and cosls agree(I to amounts paid quarterty by Ihe charity iih emphasis on non-roubne expenditure Tequirry trustee approval. A sample of fflatenance transacticms were tested to ihe Serv providerfs system. - No ioum81 entsies were poste(S by the chaiity. J1 audil considered any lar9e, unusual or transactions outside the rKJrmal covw of tr8135 were h3htj as a resum of our testi.
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE WAR MEMORIAL VILLAGE-DERBY - We reviewed the minutes of twstees. ThtiJ$ contrds pul in pe by the t(JaTd of trustees incding a rev of their risk assessmenL - At the planniy slage disLussed management arry aThJ regukiS wlich ¥re central lo the oparation of Ihe charity. -The finawal slatemonts were revieved alLry%de dtsch)sur8 checkjists to ithntfy any unusual or unexpected ralalonships or any af8as of nOnthC(mnsrte. vme held with managem8nt Nth8re it was consmlered additional ¢Jis¢losures wwe wuired. - We r&naned akrt to any Inthcatif of fraud. material misststmnt ty ThYFCom1arte ilh I re9allOnS throughout the audii iithding those rel8lir¥J lo alem8. A fvrther de8cripthon of our resnbilitieS for the au¢Jt of Ihe statements is Iwatgd on thg Financi81 ReportiNJ Counril's website at wWw.frc.org.u9V[thlOlreSPWsIt¥Irtle$. description fomis part of ¢xJr Report of th8 IndeperK58nl Audbtors. U$• of our report This report is made solety to the dwritsble a)mpan5 rrwknrs. as a tody. n accordaThx vrith Chapter 3 of Part 16 of the CompaThes Act 20. Our audit work has been uThJertaken so that we miJht state to the tharitsble company's members those matteTS we are requirgj kn state to thun in an ars. report and for no othei purpose. To the fumest extent pernYtt&Y by law, we do not accept or assume resF4jb1ty to anyone other than the charilable company and the ¢haritatAè ¢ornpany's members as a i)ty. for tyjr Alitwryk. for tr¥s reFyL or the opin•)ns have fcrfm8d. David Me CA (Senior Stabjtcry Auditor) for and on behalf ol JOhnn Tidsai LiffliteJ Chartered Acowntants & Statutory Auditor 81 Burton Road DeY DeyshiT8 DE1 1TJ Page 9
THE WAR MEMORIAL VILLAGE-DERBY STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUND FOR THE YEAR ENDED 31 MARCH 2024 2024 Tdal 2023 T¢A81 fvn(Js fuThJs INCOME AND ENOOWPAENTS FROM Donations and le9S 2,451 Charliabl• actlvltl•s Housing seNic8s 315,182 315,182 293,862 Inveslment wKL)me 2,057 607 T¢)tal 310.534 318.534 2.920 EXPENDITURE ON Raising fvnds 126 Charltabl¢ a¢tlvltios Houslng services 242.835 29.232 272,067 258.901 Total 242.835 29,232 271007 259.027 NET INCOMW(EXPEl*f)ITURE) 7469• {29232) 407 37.893 RECONCILIATION OF FUNDS Total funds tought fcthard 5.016,298 245.425 5.261.723 5,223.830 TOTAL FUs CARRIED FORWARD 216 193 5 261 723 P8p 10
THE WAR MEMORIAL VILLAGE-DERBY BALANCE SHEET 31 MARCH 2024 2024 Tot•1 2023 Total funds UNestncbJ RestwKted thjnds FIXED ASSETS Intangibl8 assets Tang*)le osseb 13 14 2,100 5 587 299 5,307.954 58 5.307,954 212.304 S520,2$8 5,589.399 CURRE1 ASSETS Debtors Cash at bk 15 26,486 332,262 26.486 336,1S1 3,889 208,942 358.748 302,637 269.241 CREDITORS Amounts falling due within year 16 {60J56 (60,8561 164.9861 NET CURRENT ASSETS 297.892 3,889 301.781 204,255 TOTAL $SET3 LESS CURRENT LIABIUTIES 5.605.846 216.193 5,822.039 5.793.654 CREDITORS Amounts lalliTr3 the after more than year 17 1513,8491 {513W9> {531.9311 NET ASSETS 5.091.997 216.193 5 308 190 5 261 723 FUNDS Unrestricted tunds Restricted funds 5,091,997 216 193 5,016,298 245.425 TOTAL FUNDS 5.308.190 5 261 723 These finandal statements have twepar&J in &COrd ¥&ilh the Fffo¥isiorts applicable to charitatle companies subjecl to the small ccthpanies. r4ime. Tho finan¢ial statements were apprd by the Board of Trustees and aulhISed lor issue on 23 Dernber 2024 and were skjned behalf by: HJe rKJs. Thg Thrte$ flym ofllw fffiancial Slatents P&Je11
THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IMRCH 2024 STATUTORY INFORMATION The War MenM)rial Village - Dwby s a ctsitable CL¥npww. LS(e in EryJlaThY Wtjes. The chariiable company's r89ister8d CoMY rter. regSIe ¢han"ty ntjnber. regSIe ofke address and bugness Jdfess can be found in the referen aJmn6trative details of ihe Rem of the Trustees. The wesentatkn currency ofthe sIalemts is the PouThJ Slerfmg £. ACCOUNTING POLiaES Bas1$ of Praring tho financlal •tat•m The financi stslements of chartab corry)¥ry. is a public benefit entity under FRS 102. have been prepa li 8¢cOrda vth thè Chitiès SORP IFRS 102)'Accountig and Reporting by Charthes.. Statemènt of Recomm8nd8d Practts 4)pltsblè lo thaiities prwng thèir accounts in accordance with Ihe Financial Repo9 Stsndard appk'¢abl8 in the UK arKI Repubk of Irgland IFRS 102) {eff¢thve 1 January 20191., Finanaal Repoiting Standaril 102 The FThDc Rewxtiry Starnlard applcable in UK and Republi¢ ol Ireland. and 11)e Companies Act 2006. The finanual sialemffits have been [ryad urnler the historkal cost conv8ntion. as by the revaluation ofe4t•n ass8 Golng Gonrn During the year the twslees of War Memorwl WilwJe Derby have been in wotiation wth Dety Phy$ Limrted. the charity's rent arKI woperty maintenm wvi¢8 ww"der. regarding a w4)osed transfer to Dèrby Homès LMNlod ol thè assèts and 0rdIA$ ol Ihè War K4emori Vilagè D81ty. This is scheduled lo te FI durng 2025. The88 81X04vts twwe(J on a win9 wnc¢m basi$. Refer lo tht note in these ffinw¢vJ Stat¥ on P(t SI Evwts. Significt ludwments and e$timatss The estimates 8rKI derfng aMplS aTr revied on an ryirvJ basis. R1$)n$ lo wjunting estimates are reccgnbsed in the Iri(l in wlw¢h the evnate ts wised if onty affects that pknd. or In the perfod of the revision and fure peri(MJs rf the rovtyon affects both ur¢nt aryl fuiurè pèriods. Th9 foll(Awg jwlg8m8rrts {1 esthmatss h8¥e b9 rnadg in the prVE of applwThJ Ihe charitable company account9 wlioes Ihal have had the Nw)st swifKant efknt reCnIsed in the finandal slatements.. DÈKWAalkin . Ihè usèful lrfe of rKc¥)èth. arè propthtes. ks bas•J on cny>nant )untYKJ. Estim8s are ¢akulated 8xpo1iow arKI wrronl $XF¢tstr of useful life. Flnanclal r•portlrtg standard 102- r•duc•d dsdosurn •x•mptlons The charilablè Company has tsken ad¥tage of the f0knww disc18 èxemption in prepwiThJ these finanaal stat6m8nts. 8s pernltt8d by FRS 102 Fin8NJal R•wrb'ry SlaThja applicable in the UK and Republic of Irglar¥J': the reqyireNrt ofSeclKm 7 Slateftwl of Cash Fky4r6. Ineom• All in¢ome is r¢¢ognised in the Statem1 of Fina3a1 fvAivibgs yKe the charity has entitlemenl lo Ihe fvnds, It 16 probable ihat Iho in¢om¢ ill be re¢wvod. the anv)unt bg lIably. For donati($ to be rwnsed th8 charfty TA41 have be8n NAified of th• anunt$ and Ihe sethement date. If the ai• conditions attached to the donation and trws wlres a levd of perforn)Ce beflye entiuement can be obtaird. then defewred unts"I Iho5e WKh"Ins lully mgt or the lulNmenl of ihose conditions is wthln the ctr Of Charity. and * is prcthbbe thal I te fuffiled. Income from charita0 activrth?s inchjdes eamed fmm renls. Income is 1ved in exchange for supptying swvirs rais& fund$ vkngn 8ntrtlèm&nt has oCcUd. Income from INling activities inckth incoff eamed frc*n funthLsirKJ events and trading actNiiies to raise funds foi the charity. Income is recerved in exchavJ• lor SUPF4yiThJ g(xMJs and servKes in order lo raise fijnds and p12
THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNnNG POUCIES- ¢¢¥rtinu•d In¢om InvèslmÈnt income is 8aM tlrngh hddmvj assets frjr mveslm&nt purposes such as bank deposit accounts. It relates lo bank in19rest. Inleresl Irwm8 Is reG(wi8ed th9 gffgdive intrl melhod and I[ne Ss recogniwl as charty's rtyl to recgive payiw)l ts e.1$hell. Debtors Other debtcffs are re¢ctyJnised at thè rtI any ¢Js¢ounL Prepayrnerts are valugd 81 the amount prepaid. Expendlture Liabih'lies are reCOlsed as experTe as s)on as there Is 3 legal or n$t¢t obligalitin committing the charty to thal expendtture, it is Wobae that a transler of econcrfr4c tenefits wll be require(J settlement 8nd the amount of the ctligatTh can be meawred relia. Expenditure aUted lor on an acGwls baS and has been classiw under headirgs that ajwegate all cost related to the category. Where costs cannot be direcily attributed to part)Jlar headr4J& they have teen aMctat&J lo acbtres a ba3 consistertt with the use of resources. Cr•dltors ¢dItOrS are recognr&ed Vlthere the chanty has a wesenl &gai)n resuthg frcffi a past ent Ihal will probabty result in the transfef of fijnds to a third paity and the nnt due lo settle the 0On can be measured or estimated reli&Wy. Creditors are recogr4s&J at thr settlernenl arTk)unl. GO¥•mZC costs G0vemae costs comprise all costs invdwryJ Ihe cOuntslity ol Ihe charity aThJ include the reimbursement of trustees. expensesa1 relaled io the statutory wdiL Allocailon and apportlonm•nt of costs The costs of Ihe charity haye been appoitwj the bags of aft1t spent on the main acliwty of the chaiity vthich is the Ffftigon of hSj seThices. Intanglbl• ass•ts Amortisation Is calated so as to lte off the cost of an asset. les8 its esimat&J residual value, over the uselul economic of that ast as f0H0v. Computer ffvra re Webgte- over 5 years Stht Ine TO[ble fixed a8••ts Freehold FKOFrties were reflected al Vaall on 31 Mwch 2014. Uncr FRS 102 the Iru$è8 hav8 électe(J lo reflecl the freehcAd al deemed cost. Tangtle fixed assets are now 5tsted at co or dèefft ¢o¥t accumulated depreuation. Cost inchjdes Cosls ithrecity albUlade to miryJ the a58el cwle of operalW a8 intended. Freehold properties, vthich a housing properbes, are Wit betrfftn the slwcluTe and IIKJSÈ major components bthich require period placemenL Replement or resloraiion of such major ThneI5 is capitslised and depreciated over the aver&Je estimated usefijl life. War Mernorial Vilage DeY'S a&fel management strategy and Ihe rewIrerTtS of the Ccent H(xnes s1K1ard. D&precaal• is charged over the exFled u5efiJl 4)no[r fves ofe& c¥)mponent as foknv8.' Slructure Roof Windows and doors Kitchens and bathrClS Mechanical seNlces Heating and phjmbw Fit out costs Solar panels Electrical n9 100 25 25 25 Pag8 13
THE WAR MEMORIAL VILLAGEERBy NOTES TO THE FINANCIAL STATEMENTS - contSnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUMTING POUCIES- contSnued TangIb fix•d ass•ts A transfer is made from the r8valuation rgserve lo the inccTh aTrJ expeTrJiture aCcCt equal lo the difference bgtwpen dewgGiab"on lor iho ypar caInal¢d on of Ihe histoital cost the aclual depation charge whth is cakulate(l usirKJ revabjed am(yJnts. In addits)n. (precialicA) 1$ providÈd at an ahr#1 ra on Ihè &8s8ts: Improvements to PTO Fixtures and fittirwJs Compulei eqprne 20% slraw I 25% sIral kne rxatlon Fund accountlng The chanty has trtsjth stre£l arKI unres¢rthd All Lts8d to trAn8fit arK1 th8 charitable ot¥ects ofthe charty. Unrestricted funds are general fvnd5 afe available for use al diwebon of the Iru$lees in fvrtherance of the general objectives ol the charity and have been desvJnaled f Lther purw$. Restricted fijnds can only be Used lor part•>Jlar reslrKted purFM)ses within the objects of the chawity. ReSton5 arise when speafjed by the dCOr OT ¥then fvnds are rais•Y for particular reslrKted pUOse5. Furlher e¥pbnation of the nalwe 35 puw of e restncted fvnd ts wtkJdÉ(I w) nrtes to finaneial statwnents. Flnandal Instruments Financial in3trullnts are das9W arKI aUnIed for. a(wdir¥J to Ihe wbslancè ol the contractual rangement. as financial assels, fffjancial h"aimlit cff equty inslwments. An èquity Instrunènt is any Contract thai evidences a res¥1 interest n the olthe coffwny after deducliry all ofils liabilities. DONATKINS AND LEGACIES 2024 2023 Ctlnations 2.451 INVEST&IENT INCOME 2024 2023 Depowt 8c¢(uil intwest 2,657 607 PwJe 14
THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTMTES 2024 2023 31 293.862 RAISING FUNDS Oth•rtradlng xtlvltl•s 2024 2023 Just Giviry charg8S 126 CHARITABLE AcnviTIES COSTS Support ¢osts Ise8 n& 9} Costs { no¢e 8) Totsls HowrwJ seNces 207.012 5.055 DIRECT COSTS OF CHARITABLE ACTMTIES 2024 2023 Tees. expenses Rates and water Servti costs Grounds Matenae ManwJement lee Rents Insurancè Data procesgThJ Legal and professlcmal Gen8ral costs Appeals dallOnS Bank charges Bad debts Intemet hosting Dèpr8ciation Interest payable and smlar ch$ 2,300 1.645 42.235 19,387 45.605 6,000 11,280 1.486 59.124 15.746 42.619 6,000 8,984 348 5,400 200 767 254 70 1,338 68 12001 496 90.232 41.736 89.774 27.183 267.012 254.143 Page 15
THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDEO 31 MARCH 2024 SUPPORT COSTS Governance HousFng serwces 5.055 sup[ costs. ile{l in the atx)Ve. 8re 8s foltr&" Governance costs 2024 HOU9 S&M¢8S 223 Totsl a¢livitie$ TnJstees' expenses Awlilors. r¢wnerabr Acco1#ncY and Ial fees 306 4.710 39 4.350 408 5,05S io. NET INCOMEI{EXPENDITUREI Nel inco(expen&tUreI is slaled ¢hwY(CredibJ)'. 2024 2023 Auditors. MUnation Depreciab"on- ovmed assets ConM)uter solfvtsre alrr11Stit 4.710 88,132 4,350 87.674 2,100 11. TRUSTEES, REMUNERATION AND 8ENEFITS There wwe IK) Irustees, rnmunoralKm or other benefts for the yew erMj 31 March 2024 nor lor the year ended 31 Mwch 2023. Dvring the ye¥ hon(xw Te pwd lo tnAtees to cover eX[s wKuThed by them thjring th8 year. Mr H Jennin9s- Chaimmn £1.$0012023.. £nill Mr J sMa- Treawrer £81)012023.. £nll T)12023.. h¥ol propeiti8s 7fvAthin Ihe W¥ Memori Vilage Dthi are let to the fv)JkyhiThJ twstees. The renis are nmengjrale &mdar pft)P8th ithffi vdl•J8. Tru8t•• Annual rental Annual rentsl 2024 2023 5.770 5,393 Mmart Trust•es' expenses 2024 2023 Tnjstees. expertses iIng hcmraria Travellir4J ¢xwnse$ totalliTh) {2023: £nl) wert ra'mbur5ed to crt {2023: nil) truslee. Pa98 16
THE WAR MEMORIAL VILLAGEERBy NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDEO 31 MARCH 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIALACnVmES unreSted Reslrithd funds Toial fvnds INCOME AND ENDOWMENTS FROIA Donalions and legac 2.451 2.451 Chp5tabl• aeilvitl•$ Houng service 293,862 Inv6stsnenl Incom8 Total EXPENDITURE ON RaIrj funds 126 126 Charltabl• aetl¥lll•s Hou&ng s8ThiC 29,232 Totsl 229.795 29.232 259 027 NET INCOMEIIEXPENDmiRE) 67.125 129,2321 37,893 RECONCILIATrON OF FUNOS Toial lunds broht loa 4.949.173 274,657 5.223.830 TOTAL FUNDS CARRIED FORVIARD 5.016.298 245.425 5.2fj1,723 13. INTANGIBLE FIXED ASSETS Compulèr software At 1 April 2023 aThJ 31 2024 AMORTISATION At 1 April 2023 char for year 8,400 Al 31 Mar¢h 2024 10.500 NET BOOK VALUE Al 31 March 2024 Al 31 March 2023 Page 17
THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 14. TANGIBLE FIXED ASSETS to Compuler equipment rKopffjT fithr Totals COST At 1 April 2023 fj,057322 20,237 2.978 6.123.717 At 31 Mwth2024 43 6.078.313 80 6 144 808 DEPRECIATION At 1 April 2023 Charge for ye 512,597 82251 844 1.732 14,3S7 3,803 2,620 536,418 88,132 At 31 March 2024 8,576 18.100 624,550 NET 800K VALUE At 31 March 2024 5A83,465 34.704 2,077 12 5 $20 258 At 31 March 2023 S.544.25 50 358 5,587.299 Included in cosl or vabjabon of and tulthThJs is Ireehold land of £2.525.547 {2023- £2A25,$471 which i5 not depreciated. Freehold propeeS ithin The War Mernorial Vffiage Dth FQrtfol V•Ere valued by a fim) ol commèreial propeity consuttanis and land as at 31 March 2014 in eUrd81e with the RICS V8Iu8tion - Profe58ion81 Standards on Ihe bass of market value *iih FQ58esson 5pecafK for Hou5wy. On tranSti to FRS102 t$ vauation was decled as deemed cost the asset porifdK¢. In May 2023 the teeS obtaned a wofessKffla Vat of The War kleftK&rial l8g# rKopthlès. This has not been inthded in these fironcial Statements bul values the prcyerlies 81 £6.7 million which is in excess of the deemed cost. The lis1rylc cost of housry prcperbes kn deprecBkn 15 £2.2W.W12023.. £2.341.$211. DEBTORS: AMOUlffS FALLING OUE iftifTriiN ONE YEAR 2024 2023 (Xher debto PrgpayThènts 24.536 1.950 58.769 1.530 60.299 Page 18
THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS - contlnu FOR THE YEAR ENDED 31 MARCH 2024 16. CREDITORS: AMOUNTS FALUNG DUE IMTHIII ONE YEAR 2014 2023 Bank hjans and overdrafts15ee ncrte 181 Other credrtors AccnlS defefred Inne 18.174 33,847 16.955 35,538 12,493 Othèr cTrditors as at 31 ma 2ff24 wthJ8 final costs. incjjdry reteniKJns. of phase 1 of the new build complel8d by 31.03 2022 of £29.98912023.' £29.9891. 17. CREDITORS: Amouirrs FALLING DUE AFTER MORE THAN 0 YEAR 2024 2023 loans (see note 181 513,849 531.931 18. LOANS An 8nalysls of th8 malLwIty of loans is gw8n bekn. 2024 2023 AmcMJnts fallng due wthin one year on ." Bank h)ans Amounts falling due beh¥een and fve yeats: Bank loans- 2-5 years 80.9 Amounts falling due in more than fve yea Repayable by slaIMents.. Bank loans more 5 yr by instal 427.030 450,935 The bar loan is s6rured ty a a firsl b3al cthwge dated 20 Deceth 2019 over am freehold PTOPPrty known as land on the Th)rth de of &"nfffb Road, sh1 Lock. Derby. Bank lo terns of repayment are December 2039, armj werest 15 pay8t4e at 2.75% ¥bov8 base rats M the prinrjpal rnnt. If thi5 falls loW 0% ihe is 0%. 19. SECURED DEBTS The follow¥ sjIed debts iknd will¥n r¥edilors'. 2024 2023 Bank loans 548.886 P¥19
THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 20. PAOVEMENT IN FUNDS Transf8rs beh¥è8n fwids K)¥em8nl In funds At 114r23 3113124 Vnrostrl¢t fvnds Géner81 fund Re¥8luab"on fmd 1295.649 3.720.649 75.699 10.202 10202) 1.381.550 3710447 4018.298 75.899 5,091,997 R•strlct•d funds Weware fuThl Propety 910[Inent 3.889 241.536 3.889 245 32 216 193 TOTAL FUNDS 5261723 46A67 5308 190 Net fflovement in funds. Thiduded in the above we as Id*y". Incomir¥J sources ResLwJrces expended Movemenl in lund$ UnrMtrlci•d funds General fund 318.534 1242,8351 75.899 Restrlcted fund8 Property redevelownent 129.232) {29.2321 TOTAL FUNDS 272.06 Comparati$ for MMl In fund¥ Transfers At 3113123 At 114r22 in funds fijnds Vnrestrlcted funds General lund Rgvaluab"on 1.218.322 3 730 851 67,125 10,202 102021 1,295,649 3 720 649 4.949.173 67.125 5.018.298 Restrlcted fund8 Welfarè fund 3.889 241,536 270,768 292321 274,657 29.2321 245,425 TOTAL FUNDS 5.223.830 37.893 61.723
THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 20. MOVE141ENT IN FUNDS- contlnu•d CfAry)ardtNe n8t movèm8nt in fimds. in the abo¥& ar& as fcAky4J3: Incom9 Resourcès experKled Movgmgnl in fvrvjs UnrnStrlet fundi Gènèral fun (Z29.7951 67,125 Rtrstrlrt fvnds Property redevelopment (29,2321 129,2321 TOTAL FUPX)S 296.920 259.0271 37.893 ReStted funds comFWiSe: W•lfar• lund Relates to a donation from the Roya &ittsh L99V Aknton beirwj a rolof fd for the w1a of diSadvted servicaM and ex. R•d•v•lopm•nt fund The fund i•lates to the allocation of Rh1 to Buy rwts 8s gr8nl lunduw from Dertjy Cty CnCil. Th8 grant Is for the rement of un&itatAe aThJ the of nw htyn¥ Transf•rs b•tw••n funds A transfer is made from the ValUab)n to the frxwwJilur8 a¢¢¢wt gqual lo th8 differ8rtc& befften the depCiat)n charge for the yw cJJlated ¢m Ihe bags of Iw"s¢ori¢al c(6t and actual depre¢iaiion charge whkh is cakulated usmg the re¥Ued ¥fiots. 21. OTHER FINANCIAL COMMITMEMTS As at 31 March 2024 the charity had finanoal crmmilrrwts of £60.(XJO 12023.. £66.(N))l in SpeCt ol nts ¢Jn leasehold propeities. The commitment esl ntS forlhe tenn of Ihe se whxth expkes kn 2034. RELATED PARTY DISCLOSURES There were no related paty transths for the rende 31 March 2024. 23. POST BALANCE SHEET EVENTS thjring the year the INstees sowJht bJal advice a w)posed trnnsfer of assets a1 operaiirms of the charity to its service prov•Jer Dertjy Homes LIMItl. Thls deci%on VAS athd due to the current trustees, ish to retire. The trustees a corrithrirKJ the op"OnS regwth) Ihe trL5fvr. The pPoS015 put forward are S[lect to d diligence checks and inchjde Clearar by the Charity Comissw)n but il is enSaged that ihe transfer wlll take place somelime sn 2025. Oerby Homes is an Ami's Opjanisalw (LMOI •KI B 0 lo ¢)wned subsidiary of O¢rby City Council. PaJe21
THE WAR MEMORIAL vILLAGEEft8y NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ULTIMATE CONTROLLING PARTY The CharitsLe cornpry ¢trOled by its 8owd OfTn(eeS 22