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$i 1 to 5 Report ofth• Ind•pèndtht Audltor4 6 to 9 St•tem•nt of Financial Activltles 10 8danc• Sh••t Notes to the Flnanclal Statements 12 10 22 THE WAR MEMORIAL VILLAGE-DERBY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The twslees who are ￿s0 direclcq5 of ihe charity kn the wr*)ses of ihe Ccrfnpanies Act 2006. present Iheir report with the financAal siaternents of Ihe charity for the year eThJed 31 Marth 2024. The trustees have adopted the provisions ot Accounknr4J and Rep)W by Charib8s." Staiém8nt of RecomThtwJed Prxtice ¥Jplicabl8 to charittas prepariro th8ir accoLmts in accordance with Ihe Financial Repcrfiwy standa￿ aF￿ble in the UK aThJ RepuNic of Ireland {FRS 1021 leffecb've 1 January 20191. OBJECTIVES AND ACTIVITES Oblectlvas and alms The prime ot¥'ective ol the chaiity is to own. op8rat8 mantan an er*lav8 ol hwjh 9radè housing in th8 Cty of Derby specfficalty for benefit of di$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 98￿rat¢S fur￿ k) be aw*ed ifirectty in furtherdrKe ofthtr prime objgcbve; - ¢Ol¥J8rat& vAlh olh8r (*arllias. èx.sÉTh￿è ¢entsal arKJ i(Kal govemment #ulhMties, private orporati¢Th. and l￿son5 in smilar ￿￿viDe8. aTrJ . sppty th8 wholè of Ihe materlal and ffinancial res(MJr¢es of Ihe i*writy. wher￿-S0 ever arKI how-so ever (kn¥ed. The tharity mawilains h8thy fin8rKial (ww8tiMJ rewve 8¢¢ounts estsNi**d to Sec￿re the aims pffjvroU￿Y slated. Thes¢ fin￿ry¥l wp ffK>nitored armj aLK*ted 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 Y￿nteerS aNI tske IK) remunwalion exi* the reirthrsemenl of travel expenses and bu￿ary. Publlc bonefit The trustees have gwn due rw to pubk bengfrt i65ue(J by the Ch￿l￿S Cornmission when re¥Aewlng hs alms and Ob￿￿veS pknrNng As described under obi￿tiveS and acbwlies. the d￿ritY 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 D*rby. spe¢tfKalty fgr Ihg b$nefft of disabled forner members of HM For￿S. the Emergew ServKes and otsr5 whorn the trusleos shall from b.me lo thlne deem worlhy of inclusic￿. The tnjslees review the ￿l¥￿teS of Ihe charity agawtsl its ams ￿ an onwing bas￿ and are satisfiad that all activibes contlnug lo be rdaled to its aims. ACHIEVEMENT AND PERFORldANCE Charltable actlvltl•s The board of direclorsltrustees has maintained th• estatè ui 8xcdl8nt conthlion thr{K￿ clos8 coopèration with t managlng agents, Derby HC￿eS Limited and by pruthnt of op9rating and ffjsorv¢ finawal rosources. We have eSta￿iShed have been wothing lo a 30-year ¢xrt&ne strategy lh* ￿MbineS malntenance and ￿developMent with detailed budgeted action for the short [In yearl and medwjn tums [ie k) 5yisl. The trA￿et is drafted each year and passed by Ihe tr*)ard of (h￿CtorS￿rustee$. Subiect•d to cont1￿OuS monitoring by thè Chalmian aThl Trèasurar, p8ri0 updates I￿￿ling Iofecast of ¢￿ttuM a￿ p￿sented at ea¢h warterfy m8ekn.ng of dWe¢t(KthSt￿$. Much of the year was laken up by the debate bemwn Ihe knjstees rm effects of Ihe Pandemic. fOrt￿Orning changes in legislal*Jn both in 2025 ￿ 2030 which wli requke svjniknnt investment the futu￿ of the vlllage. and its residenls was paramo￿t. Although the charity has recovwed fr(Mn the Pandèmlc #i purely financial t•m)s. Ihe loss ofthè income during COVID and subsequent "catch up" %Jith mayrtenancè iSsL￿$ wilh ihe On￿ income bein9 received by ihg charty bel￿ the rental inCc￿rE li was C￿ar 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 p￿selVeS 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 s￿￿US on Unr8striC￿ fijnds of £75,69912023: £67.1251 and a deficit on restricted funds 01 £29.23212023." def￿11 £29,232). The ovefall surpkts lor Ihe year an￿￿nted 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 swtrolio at £6.74 mifw. The a55ets we currenty *KW4n al (Jeemed Cost wiu) a not bof* v81ue of £5.48 milK)n. The trustees (k) not irbterKI lo ¢haThJe the of detrmed ¢ost to wev8lu8lK)n. The proftrssTronal valuati was ufKlertaken lo assess Ihe wnparl or the phase ore rthikl on the protmty pOr1f￿ avj to provide an indKation to Ihir(I paity&s ofth& potenth81 c￿¢ val￿. R￿OrY&S pollcy In accordanGe with Charity C(¥rwrMssim guthines. has hi5t(xK4ty tsrgete(l a rymnirnum reseN¢ of around 1.3 time$ ￿nUal revenue - llis ewates to (ir¢a £41* Howèvèr. Ihè estat8S Strat8gy thè u)neA)mitanl 7htrks. iyjudty thè Phas8 1 new tr￿11d, hav& reoL#r8d this figure to be k6pt som•what flexblè. Th8 balanc8 al b￿k as at 31 March 2024 sto(x1 at £336,151 %th"ch is below th¢ amou mentioned atrf)ve arKI reflecl$ a stn.ct contrd of gxp9ndi1u￿ fd1(Yw￿9 the applicab.on of funds for Ihe feconstNciion cost$ of Phase l &Th￿rred adthtional costs 01 £103k. partly to Ihe adverse effects of the global pand8nwc. The charity has no funds In der Goln9 ￿n¢ern Du¢ to the na1￿￿ of the Charf￿s thties rents fml its pr￿ertY ftym the main source ofits inc￿. Thér8 has been an increase in rent81 irthne n the yw 8nd8d 31 March 2024 dug r8rt Incr8as8s and th8 18tbng of propafbes folovjing refurbishm8nt *Y)rk. The Tmstees ckisely monitc* actual perfomiance tXKhJel *KI a sulp￿$ on LwWestr￿ed funds was en￿Saged for the year due to the carnful m￿lt011￿ of resw)nswe repaTrrs and ￿anned for propert*S Tr•Athin the portfdio. FUTURE PLANS Thg trvslees a￿ ¢urrenlly in %%i¢h Liwnited rwJarding Ihe transfer of the village and its assets. Tb*y are considering g)tk)ns avalats4e subject to le9a aTh1 the (x)rwt ouicoff￿ for the future ol the vlllage and Its ra￿dents. This is likely ks take place sometimè in 2025 after due dI￿nCe checks and ￿reement of the proposed transferwith Ihe Charity con￿lsS￿ln. Page 2 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 t18￿Y 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 cCrfn￿Y R•erultm•nt and appolntm•nt of n•w trust••s Tmstaès ar8 sélected on IhÈ basK% of speu8%st kn(￿￿eth3￿ Fw8¥10￿ eyrie￿0 in DirectcfThrustee - type roles. esp8oialty Trithin Ih8 sc¥>al hou5iry and milrtary seLtow& Pol¢nbal I￿1￿[frust8es are inteThth%wd by thè serv•¥J Board aNI decli(m is by wboffKe DIrectc￿rUSteeS based c merit and prOfes￿Onal ¢onirtJuliort of Ihe ¢andKlate. Inductlon and trainlrwj of tru5t•os The Trustees regularly conveng a governan￿ SWT¥nar (lefv￿1 by ￿ indepermlent SL*1￿￿ matter expert for the puwe of updabng the knovAedge base 4Mlh regard lo btest Chant*$ and Companies leglslatjon and to disCUS5 good t*a¢ti¢e. der nelwo The charity mwntains a dose relaknship V&ith ex-servrk ¢xrJwmSabw￿ through I￿1 reF¥esgntslives. The charity maintsins a dose ffjlation$hp Derby D8ttysh#è Oisablèd Soldlers. Setdement for th8 purpos of allèviatiny distress via financial awst8rt8 kneAIy. Rlsk m￿agement The trustees have a duty to Klenthfy and risks to whth the d)arity k8 ex￿ arml to 8nwre approprlatè cMlrols arè in rAae* lo rrfo¥￿• rè8son8bl• against Iraud and error. The Board has in m8nwJe1r￿nt kxjh'w rryul8rty asse&ses okwabry al￿ finan¢ial risks advised by the managry wJents- Derby Hornes Lirnf(ed. REFERENCE AND ADM1141STRATIVE DETAILS R•gl$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 8￿eWell Mlcky Doyle G￿n K8amey Ilel Mar￿n Ross M¢Cristal Ajan Grimadell Andrew Wall ChaIm￿n Vice Chairman T￿￿J￿r resw 17 May 2023 The Mayor of Dwby 1$ the P￿ident ofts ¢hanty * is an Ex-offw ty Thitalw)n. Conyany Secretary H Jenr4ngs THE WAR MEMORIAL VILLAGE￿ERBy REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Audltors jO￿S0n Tldsall Limf(ed Chart8f8d Acco￿ltantS & Statutory Auditor 81 Burton Road Dert)y Dert)yshirÈ DE1 1TJ B*kern HSBC Victw Road. Dèrt)y Derbysh DE24 9HX Charity Bar￿ LirT¥ted Fo$sè House 182 H￿ah Street Tonbridge TN9 IBE SollcltorB Freelh car￿jh1 Cardinal Square 10 NottirYJham Road Derby DE13QT Mr Jonathan Srnale and Mr Haryey JeM1Th￿ resportsibkn fry ts for day-tw manwmnl of the charity thrOu￿oUt the year. EVENTS SINCE THE END OF ThE YEAR Informalign Telatwy lo events snce Ihe eThJ of ihe year is uiven ￿ Ihe Tr)t8s to thè finandal stat8m8nts. STATEMENT OF TRUSTEES. RESPONSI8ILmES Thè trustéés (who art #180 the drectors of The War Mernimlal Vmlageikty for the purposes of company law) are r¢spwsiblg for preparing the Report of the Trusiees aTrJ ihe f￿anCIal StateM￿lS in accordance with applca)le law and United King(kMn A¢coLntsng Stsndards {United K¥yJcffi Generalty Accepted ACcO￿ting PYack81. Comp8ny18w rnquirès the trustees to Prepare financial statements foreach fmanc4al year whi¢h gtv¢ a tru¢ arKI fair view of Ihe statg of affairs of the ¢h8rilat4é ￿Mpar￿ and ol the inccrfr4ThJ res￿rceS and applkation of resources. including the in¢ome and eX￿￿K￿lure. of Il* charitabl8 company that pen(￿. In prepariThJ t￿se fina￿JaI statèments. th8 tru$le8$ are ￿qUired lo sel8Ct suMabt8 8ccounting peAKies 8nd then appty them con9st￿. ob￿￿ Ihg meth(Kls 8rKI principles in the Charity SORP: make I￿19￿Merb1S and eslThates that are reasonatAe aThJ pnhJenL prepare the financ￿1 statements ￿ the going concem bas.s unless it 1$ ¥)appropriat8 to wesume that lh8 ctharit8ble company WIM continuè IxJsw*ss. The trustees are r8sponsible for keepThJ proper ￿ntiThJ reccKds V*thich 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 st￿S frjr thè rmentiffi and de￿i)n offra￿1 and other irreguLalit￿. In so far os thg trus1895 are 8vrdre'. th&r8 is M relevant aut￿1 Informat￿ Qfwh￿h charAabk corrpany¥ wditors are Ltnaware: aThJ th8 trustées havè tskèn all step5 thal they 0￿h1 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 p￿pared in a¢(ordar￿￿￿h thg wial woviwns of Part IS ofthe Compan￿S Act 2fy)6 relating to small compaThes. Approved by ordw of the t#)8rtJ oftwslees M 23 DOwn￿r2024 and sgned cffl ils behalf by.. H Jenni s-Tvu Page 5 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE WAR MEMORIAL VILLAGE￿ERBy Oplnlon We have audited the financial StateM￿ts of The War MeM￿la1 Vll&Je-Derby (the 'charitth companll for the year èndad 31 March 2024 vknich rA)nwrise the Statemenl of FinaThial ActNit*s. Ihe Balar￿e Sheet arwj ￿te5 to the ffinancial slatem6nts, includM)g a summary ol swJThficant attoLmb"ThJ poliaes. The fin￿¢137 ￿pthIng framework that has been ap￿led in their preparab'ijn is awli(¥blo l•v •NI Ui*led ACcounti￿j StarThlards (United Ktngdom Generally Accepted Accounling Practice). In our opinion finanual stsiements: give a true fair view of the state ol the aff￿r5 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 A￿pted Acc(MmtiThJ Praclic8', aNI have been prepar&J in aCCord￿ce vrith the wiirefflenls ofttE Crynparues A¢t2(K)6. Basls for oplnlon We Condl￿ted ouraudit in acc4Jrdance V•ilh Intemallc￿aI Standards on (UK) IISAS IUKII ap￿(￿le law. Our $ponsibilities under ihose standards a￿ fwther dexribed in the Auditors. responsbilibes for audit of the financial statements of our report. We we iThJepeThlent ol Ihe tharitable company in acts)rd*u with thè èthical requirements that a￿ relevant to OUT wAit of Ihe ffina￿aal sialemenls in UK, ￿￿￿dir￿j Ihe FRC'S E￿CHI SlaniJ8rd. and we have bj￿Iled our ￿er elhical respongbilit*s in acco{dar￿ Ihese requiTemeTrts. We believe that the a4wJil idence we have obiained ts suffiaenl and appropriate to promde a ba￿$ for ￿r opinion. Coneluslons r•latlng to golng ¢4￿¢￿n In auditing th8 finanaal stst*iwits. 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 idenlff*d any material uncertainlies I￿at￿g lo events or conClit￿nS that, Individual￿ or collectivdy, may rast %gnfficant dO￿t on the charitaNe ccrfnpanrf5 abihty to conlinue a8 a goirvJ concèm for a WK)d of at lèast months frrxn Ihe fmancial statem￿ts are authorised for issue. Our respons￿111￿$ and the ￿$pC￿￿1￿ties of the trustses resFed to gthJ corKem are des(¥ibe(l ￿ Ihe relevant sactions ol this report. Oth•r Inlomiatlon The trustees a￿ ￿$￿)nsIt* the 0￿r *ifomiath)n. The other inf0m￿tion conyises the inforynation i￿lL*￿e{l in the Annual Rep(rt other than the financlal ststem&Xs and cw Rem oflhe Independent AuditcKs thereon. Our opinion on th• f￿an¢￿al ￿teM￿nts does not cover the oitw Infom￿1￿1￿ and, except to Ihe exlent otherv+ise explicitty slated in ￿pOrt. we th) Mt expwess any fonn of assurance cc*xlusion there￿. In conneclion ow a￿￿11 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 f￿ar￿la1 slalements. or our kno￿edge obtained in Ihe autht or othe￿iSe appears to be materiaty misslated. If we identhfy such material inconsistencies or apparent material ff#SstateM￿t$. we a￿ required to detemmne whether ihis gve5 rise to a rnaterial rnIS$ts￿M8nl in the financial statements themse￿eS. 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 {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 appr￿￿d by the Board of Trustees and aulh￿ISed lor issue on 23 D￿ernber 2024 and were skjned behalf by: HJe rKJs. Thg Thrte$ flym ofllw fffiancial Slate￿nts 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 CoM￿Y r￿ter. 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 sIalem￿ts is the PouThJ Slerfmg £. ACCOUNTING POLiaES Bas1$ of Pr￿aring 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 Ch*itiès SORP IFRS 102)'Account*ig and Reporting by Charthes.. Statemènt of Recomm8nd8d Practts 4)pltsblè lo thaiities prwng thèir accounts in accordance with Ihe Financial Repo￿￿9 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 [rya￿d urnler the historkal cost conv8ntion. as by the revaluation ofe4t•n ass8 Golng Gon￿rn 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 0￿rdI*￿A$ ol Ihè War K4emori￿ Vilagè D81ty. This is scheduled lo t*e FI￿ durng 2025. The88 81X04vts twwe(J on a win9 wnc¢m basi$. Refer lo tht note in these ffinw¢vJ Stat￿¥￿ on P(*t SI￿ Evwts. Signific￿t ludwments and e$timatss The estimates 8rKI ￿derf￿ng a￿Mpl￿S aTr revie**d on an ryirvJ basis. R￿1$￿)n$ lo wjunting estimates are reccgnbsed in the I￿ri(￿l in wlw¢h the e*vnate ts wised if onty affects that p*knd. or In the perfod of the revision and fu￿re peri(MJs rf the rovtyon affects both u*r¢nt aryl fuiurè pèriods. Th9 foll(Awg jwlg8m8rrts ￿{1 esthmatss h8¥e b9￿ rnadg in the prVE￿ of applwThJ Ihe charitable company account￿9 wlioes Ihal have had the Nw)st swifKant efknt reC￿￿nIsed in the finandal slatements.. DÈKWAalkin . Ihè usèful lrfe of rKc¥)èth. arè propthtes. ks bas•J on c￿ny>nant )untYKJ. Estim*8s are ¢akulated 8xpo1iow arKI wrronl $XF*¢tstr￿ of useful life. Flnanclal r•portlrtg standard 102- r•duc•d dsdosurn •x•mptlons The charilablè Company has tsken ad¥￿tage of the f0knww￿ disc1￿￿8 èxemption in prepwiThJ these finanaal stat6m8nts. 8s pernltt8d by FRS 102 Fin8NJal R•wrb'ry SlaThja￿ applicable in the UK and Republic of Irglar¥J': the reqyireNrt ofSeclKm 7 Slateftwl of Cash Fky4r6. Ineom• All in¢ome is r¢¢ognised in the Statem￿1 of Fina￿3a1 fvAivibgs *yKe the charity has entitlemenl lo Ihe fvnds, It 16 probable ihat Iho in¢om¢ *ill be re¢wvod. ￿ the anv)unt ￿ bg ￿lIably. For donati(￿$ to be rwnsed th8 charfty TA41 have be8n NAified of th• an￿unt$ and Ihe sethement date. If the ai• conditions attached to the donation and trws wlres a levd of perforn)￿Ce beflye entiuement can be obtair*d. then defewred unts"I Iho5e WKh"I￿ns lully mgt or the lulNmenl of ihose conditions is wthln the c￿tr￿ Of￿ Charity. and * is prcthbbe thal I￿ te fuffiled. Income from charita￿0 activrth?s inchjdes eamed fmm renls. Income is ￿1ved in exchange for supptying swvir*s rais& fund$ vkngn 8ntrtlèm&nt has oCcU￿d. 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 p￿12 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 intr￿l melhod and I￿[￿ne Ss recogniwl as charty's rtyl to recgive payiw)l ts e￿.1$hell. Debtors Other debtcffs are re¢ctyJnised at thè ￿rtI any ¢Js¢ounL Prepayrnerts are valugd 81 the amount prepaid. Expendlture Liabih'lies are reCO￿lsed as exper￿￿￿Te as s)on as there Is 3 legal or ￿n$t￿¢￿t obligalitin committing the charty to thal expendtture, it is Woba￿e that a transler of econcrfr4c tenefits wll be require(J ￿ settlement 8nd the amount of the ctligatTh can be meawred relia￿. Expenditure a￿U￿ted lor on an acGwls ba￿S 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 acb￿tres a ba￿3 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 ￿n￿nt due lo settle the 0￿￿On can be measured or estimated reli&Wy. Creditors are recogr4s&J at th￿r settlernenl arTk)unl. GO¥•mZ￿C* costs G0vema￿e costs comprise all costs invdwryJ Ihe ￿cOunts￿lity 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 ￿ aft￿￿1t spent on the main acliwty of the chaiity vthich is the Ffftigon of h￿S￿￿j seThices. Intanglbl• ass•ts Amortisation Is cal￿￿ated so as to ￿lte off the cost of an asset. les8 its esimat&J residual value, over the uselul economic of that as*t as f0H0v￿. Computer ￿ffv￿ra re Webgte- over 5 years St￿ht Ine T￿O[ble fixed a8••ts Freehold FKOF*rties were reflected al Va￿all￿ on 31 Mwch 2014. Unc*r FRS 102 the Iru*$è8 hav8 électe(J lo reflecl the freehcAd al deemed cost. Tangtle fixed assets are now 5tsted at co* or dèefft￿ ¢o¥t accumulated depreuation. Cost inchjdes Cosls ithrecity a￿lbUla￿de to m*iryJ the a58el cwle of operalW￿ a8 intended. Freehold properties, vthich a￿ housing properbes, are Wit betrfftn the slwcluTe and IIKJSÈ major components bthich require period￿ ￿placemenL Repl￿ement or resloraiion of such major ￿Th￿ne￿I5 is capitslised and depreciated over the aver&Je estimated usefijl life. War Mernorial Vilage De￿Y'S a&fel management strategy and Ihe rewIrerT￿tS of the C*cent H(xnes s1￿K1ard. D&precaal•￿ is charged over the exF*led u5efiJl ￿4)no[r￿ fves ofe&* c¥)mponent as foknv8.' Slructure Roof Windows and doors Kitchens and bathrC￿lS Mechanical seNlces Heating and phjmbw Fit out costs Solar panels Electrical ￿n9 100 25 25 25 Pag8 13 THE WAR MEMORIAL VILLAGE￿ERBy NOTES TO THE FINANCIAL STATEMENTS - contSnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUMTING POUCIES- contSnued TangIb￿ fix•d ass•ts A transfer is made from the r8valuation rgserve lo the inccTh aTrJ expeTrJiture aCcC￿t equal lo the difference bgtwpen dewgGiab"on lor iho ypar caIn￿al¢d on of Ihe histoital cost the aclual dep￿ation charge whth is cakulate(l usirKJ ￿ revabjed am(yJnts. In addits)n. (*precialicA) 1$ providÈd at an ahr#￿1 ra￿ on Ihè &8s8ts: Improvements to PTO Fixtures and fittirwJs Compulei eq￿prne 20% slraw I* 25% sIra￿l kne r*xatlon Fund accountlng The chanty has trtsjth ￿str￿￿e£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. ReSt￿￿on5 arise when speafjed by the dC￿Or OT ¥then fvnds are rais•Y for particular reslrKted pU￿Ose5. Furlher e¥pbnation of the nalwe 3￿5 puw of e￿ restncted fvnd ts wtkJdÉ(I w) nrtes to finaneial statwnents. Flnandal Instruments Financial in3trull*nts are das9W arKI a￿UnIed 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 T￿￿ees. expenses Rates and water Servti costs Grounds Ma￿tena￿e ManwJement lee Rents Insurancè Data procesgThJ Legal and professlcmal Gen8ral costs Appeals d￿allOnS 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. i￿￿le{l in the atx)Ve. 8re 8s foltr*&" Governance costs 2024 HOU￿￿9 S&M¢8S 2￿23 Totsl a¢livitie$ TnJstees' expenses Awlilors. r¢*wnerabr Acco￿1#ncY and I￿al fees 306 4.710 39 4.350 408 5,05S io. NET INCOMEI{EXPENDITUREI Nel inco￿(expen&tUreI is slaled ¢hwY￿(Credib￿J)'. 2024 2023 Auditors. ￿MUn￿ation Depreciab"on- ovmed assets ConM)uter solfvtsre alr￿r11Stit 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 erM￿j 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.$0012023.. £nill Mr J sMa￿- Treawrer £81)012023.. £nll T￿)12023.. h¥ol propeiti8s 7fvAthin Ihe W¥ Memori* Vilage Dthi are let to the fv)JkyhiThJ twstees. The renis are nmengjrale &mdar pft)P8th *ithffi vdl•J8. Tru8t•• Annual rental Annual rentsl 2024 2023 5.770 5,393 Mmart Trust•es' expenses 2024 2023 Tnjstees. expertses i￿Ing hcmraria Travellir4J ¢xwnse$ totalliTh) {2023: £nl) wert ra'mbur5ed to crt {2023: nil) truslee. Pa98 16 THE WAR MEMORIAL VILLAGE￿ERBy NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDEO 31 MARCH 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIALACnVmES unreSt￿ed Reslrithd funds Toial fvnds INCOME AND ENDOWMENTS FROIA Donalions and legac 2.451 2.451 Chp*5tabl• aeilvitl•$ Hou*ng service 293,862 Inv6stsnenl Incom8 Total EXPENDITURE ON RaI￿r￿j 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 bro￿ht lo￿a 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,$471 which i5 not depreciated. Freehold prope￿eS *ithin The War Mernorial Vffiage Dth FQrtfol￿ V•Ere valued by a fim) ol commèreial propeity consuttanis and land as at 31 March 2014 in eU￿rd81￿e with the RICS V8Iu8tion - Profe58ion81 Standards on Ihe bass of market value *iih FQ58esson 5pecafK for Hou5wy. On tranSti￿ to FRS102 t￿$ vauation was decled as deemed cost the asset porifdK¢. In May 2023 the t￿￿eeS obtaned a wofessKffla Va￿t￿ 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.$211. DEBTORS: AMOUlffS FALLING OUE iftifTriiN ONE YEAR 2024 2023 (Xher debto PrgpayThènts 24.536 1.950 58.769 1.530 60.299 Page 18 THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS - contlnu FOR THE YEAR ENDED 31 MARCH 2024 16. CREDITORS: AMOUNTS FALUNG DUE IMTHIII ONE YEAR 2014 2023 Bank hjans and overdrafts15ee ncrte 181 Other credrtors Accn￿lS defefred In￿ne 18.174 33,847 16.955 35,538 12,493 Othèr cTrditors as at 31 ma￿ 2ff24 wthJ8 final costs. incjjdry reteniKJns. of phase 1 of the new build complel8d by 31.03 2022 of £29.98912023.' £29.9891. 17. CREDITORS: Amouirrs FALLING DUE AFTER MORE THAN 0￿ YEAR 2024 2023 loans (see note 181 513,849 531.931 18. LOANS An 8nalysls of th8 malLwIty of loans is gw8n bekn￿. 2024 2023 AmcMJnts fallng due wthin one year on ￿￿." Bank h)ans Amounts falling due beh¥een and fve yeats: Bank loans- 2-5 years 80.9 Amounts falling due in more than fve yea Repayable by ￿slaIMents.. Bank loans more 5 yr by instal 427.030 450,935 The bar* loan is s6rured ty a a firsl b3al cthwge dated 20 Deceth 2019 over am freehold PTOPPrty known as land on the Th)rth ￿de of &"nfffb Road, sh￿1￿ Lock. Derby. Bank lo￿ terns of repayment are December 2039, armj w*erest 15 pay8t4e at 2.75% ¥bov8 base rats M the prinrjpal rnnt. If thi5 falls ￿loW 0% ihe is 0%. 19. SECURED DEBTS The follow¥￿ s￿jIed debts i￿kn￿d will¥n r¥edilors'. 2024 2023 Bank loans 548.886 P¥19 THE WAR MEMORIAL VILLAGE-DERBY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 20. PAOVEMENT IN FUNDS Transf8rs beh¥è8n fwids K)¥em8nl In funds At 114r23 3113124 Vnrostrl¢t￿ fvnds Géner81 fund Re¥8luab"on fmd 1295.649 3.720.649 75.699 10.202 10202) 1.381.550 3710447 4018.298 75.899 5,091,997 R•strlct•d funds Weware fuThl Propety ￿￿910[Inent 3.889 241.536 3.889 245 32 216 193 TOTAL FUNDS 5261723 46A67 5308 190 Net fflovement in funds. Thiduded in the above we as Id*y￿". Incomir¥J sources ResLwJrces expended Movemenl in lund$ 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 M￿M￿l 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: Incom￿9 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 ReSt￿ted funds comFWiSe: W•lfar• lund Relates to a donation from the Roya &ittsh L99V￿ Aknton beirwj a rolof f￿d for the w￿1a￿ of diSadv￿t￿ed servicaM￿ and ex. R•d•v•lopm•nt fund The fund i•lates to the allocation of R￿h1 to Buy rwts 8s gr8nl lunduw from Dertjy Cty C￿nCil. Th8 grant Is for the re￿￿ment 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 dep￿Ciat￿)n charge for the yw c*JJlated ¢m Ihe bags of Iw"s¢ori¢al c(6t and actual depre¢iaiion charge whkh is cakulated usmg the re¥￿Ued ¥fio￿ts. 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 ￿￿es￿l￿ ￿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 a￿1 operaiirms of the charity to its service prov•Jer Dertjy Homes LIMIt￿l. Thls deci%on VAS ￿athd due to the current trustees, ish to retire. The trustees a￿ corrithrirKJ the op￿"OnS regwth) Ihe tr*L5fvr. The p￿PoS015 put forward are S[￿lect to d diligence checks and inchjde Clearar￿ by the Charity Comissw)n but il is en￿Saged 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 vILLAGE￿Eft8y NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ULTIMATE CONTROLLING PARTY The CharitsL￿e cornp￿ry ¢￿trOled by its 8owd OfTn￿(eeS 22