CWR
CharteredAccountants
THE COTTON INDUSTRY WAR
MEMORIAL TRUST
TRUSTEES ANNUAL REPORT
AND THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED
3 1ST DECEMBER 2024
CHAIUTY NUMBER 242721
20 M2nnin Way? lancaster Business Park, Caton R02d, Lancaster LAI 3SW Tel: (01524) 67371
CWR is thc Irading name of CW&R Limited, a company registercd in England and Wales, number 05568929
www.cwr-accountants.co.uk

COThON tNDUSTRY WAR MEMORtAL TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
CONTENTS
PAGE
Trustees Annual Report
Auditors Report
9-12
Statement of Financial Activities
13
Balance Sheet
14
Notes to the Financial Statements

THE Co￿ON tNDUSTRY WAR MEMORIAL TRUST
THE ANNUAL REPORT OF THE TRUSTEES OF THE corfoN tNDUSTRY WAR MEMORIAL
TRUST 19 SHEPHERD STREET ROCHDALE LANCS OLI 15SU
REGISTERED CHARITY 242721
Introduction
This Annual Report of the Trustees, together with the Statement of Accounts has been prepared in
accordance with the Statement of Recommended Practlce on 'Accounting by Charities, issued by the
Charity Commissioners for England and Wales and with subsequent Icgislation.
The Cotton Indust War Memorial Trust
The Cotton Industry War Memorial Trust Ac¢ 1947, as amended by regulations made in 1971, is the
legislation under which the trust operates. There are eight Trustees (four of whom are representative of
the employers and four of whom are representative of employees in the industry) who, under clause 4
of the 1947 Act, are constituted for all purposes as a body corporate by name 'The Cotton Industry War
Memorial Trust,.
Trustees and Secreta
The Department for Biisiness and Trade (DBT), in their absolute discretion, have power (a) to appoint
any person to be a Trustee of this Trust for the purpose of filling a vacancy and (b) to remove any
Ti'ustee. In making any appointments, the DBT consults with such persons and bodies representative of
the interests of employers carying on business and of operatives employed in the industry as appear to
them to be desirable to secure just and equitable representation on the Trust of the interests of both
employers and employees in the industy.
During the year 2024, the following served as Trustees:
resentative of Em
lo
ers:
Re
resentative of Em
ees:
Michael Glover Bartle
Alan Paul Robinson
Peter John Davey
Adrian George Abel
Malcolm Douglas Jarvis
Peter John Richard Booth
Philip Clay
Robert Christopher Trotter
The Chairman and Vice Chairnian are elected annually, but each serves for a period of two years. Both
offices rotate between Trustee representatives of employers and employees. During 2024 Malcolm
Douglas Jarvis served as Chairn)an, Trustee Alan Paul Robinson served as Vice Chairman in
accordance with the Schedules of the 1947 Act.
Mr. Philip William Roberts served as Trust Secretary
Trustee Trainin
Policies and procedures are in place for the induction and training of new Trustees. However, in
recognition of the vast experience, which is evident amongst the current Trustees. the Trust has no plans
for the training of Trustees at present. The Trustees are aware that if the need arises. they will of course
arrange such training to be carried out.

THE COTTON tNDUSTRY WAR MEMORIAL TRUST
THE ANNUAL REPORT OF THE TRUSTEES OF THE COTTON tNDUSTRY WAR MEMORIAL
TRUST
Continued
Trust Advisers
Bankers
The National Westminster Bank plc
Lancaster Business Centre
POBOX 17
68 Church Street
LANCASTER
LAI ILN
Sol icitors
Kniglits
l O Mannin Way
Lancaster Business Park
LANCASTER
LAI 3SW
Auditors
CWR Chartered Accountants
20 Mannin Way
Lancaster Business Park
Caton Road
LANCASTER
LAI 3SW
Investment Advisers
QLli Iter Clieviot
Senator House
85 Queen Victoria Street
LONDON
EC4V 4AB

THE COTTON INDUSTRY WAR MEMORIAL TRUST
THE ANNUAL REPORT OF THE TRUSTEES OF THE COTTON tNDUSTRY WAR MEMORIAL
TRUST
Continued
Trust Funds and Investment Powers
The Trust must act in accordance with the provisions of the Cotton Industy War Memorial Trust Act
1947, as amended in 1971. Under Section I l of the Act, the Trustees have power to invest the funds
and to vary those investments, and to apply the capital and income therc from for the purposes set out
in Section 12 of the Act. The second Scliedule of the Act sets out the "restricted funds" of the Trust,
which fonn the original Trust Fund. That capital cannot be expended without prior consent of DBT.
Section 12 of the 1947 Act provides that (a) any investment made out of unapplied income of any year
or the accumulations of such income and (b) bonuses or profits arising out of the conversion or sale of
any investment of the Trust may be applied by the Trustees for any purposes set out in Section 12 of
the Act and the consent of DBT shall not be required for such application.
The Trustees have considered the type of service required from the Trust's Investment Advisers. They
have concluded that an Advisory Portfolio Service adequately meets the investment needs of the Trust.
After advice. investments are made in accordance with the provisiorls of the Trustee Investment Act
1961. Moreover, because of the size of the Trust's portfolio, it is felt that the investment need in respect
of narrow and wider range investments are best served by using gilt-edge securities and a reputable
Cominon Investment Fund rather than a private discretionary management service. This policy is under
constant I'eview by the Trustees based on inforniation supplied by the Trust Accountants and Financial
Advisors at regular intervals.
Ob ectives of the Trust and Policies of Im
lementation
The objects of the Trust are set out fully in the provisions of The Cotton Industy War Memorial Trust
Act 1947, as amended in 1971. Regulations made under Section 8 (2) of the Act detemine the operation
of the Trust. Employers and Trade Unions in the industy, appropriate Educational and research
establishinents, Citizens Advice Bureau, together with published Directories of Charities. etc., are tnade
aware of the provisions of the Act and of its objectives. The Trustees hold at least four meetings
annlially to consider policy, requests for funds or grants, disbursements and the uses to which thc Trust
runds should be put. From tim¢-to-tiTne urgent decisions can be made by means of Trustee
Memorandum Resolutions. These are subsequently confinned in meetings.
The Secretary, in regular consultation with the Chairn]an and Vice Chairman, implements the policies
and decisions of the Trustees. Minutes of meetings, investment portfolios and the annual report are
submitted to the Trustees for approval. Copies of the Annual Report of the Trustees and Financial
Stateinents are sent to the Charities Commission.
All decisions on the disbursement of the Trust Funds are made and approved by Trustees in meeting.
Detailed information is given on every item of expenditure, and Trustces receive regular reports on
approved research projects etc., and details of grants made to eligible students by textile educational
establishments.
The Trustees regularly review the policies adopted in canying out their functions and responsibilities
under the 1947 Act and under the Charities Acts. No major material changes in these policies have
been made since the previous Annual report of the Trustees.
The Secretary is the sole executive of the Trust. No further staff are employed. This obviously involves
close liaison with the Trustees, the Chaiman and Vice Chairnian and thc Trust's advisers.

THE corroN INDUSTRY WAR MEMORIAL TRUST
THE ANNUAL REPORT OF THE TRUSTEES OF THE COTTON tNDUSTRY WAR MEMORIAL
TRUST
Continued
Public Benefit
The Trustees confirni that they have referred to the guidance contained in the Charity Commission's
general guidance on public benefit when reviewing the Trust's aims and objectives and in planning
future activities and setting the grant-making policy for the year.
This will enable more infonnation to be made available to the public and the users. The Trust is fully
aware of developments in all areas of work and will take the necessary steps to ensure compliance with
the new requirements as they are laid down and brought into force.
lementation of section 12 of the Act
The income of the Trust is solely derived from its investments, except that the "restricted funds" cannot
be expendcd without prior consent of DBT.
Disbursements to beneficial trusts are made under Section 12 of the 1947 Act.
During the year 2024, apart from making pension payments to fonner employees of the Trust and
meeting the expenses of operating the Trust, the income of the Trust has been used for the following
purposes:
Tlie cost of operating (under rules deterniined, and reviewed regularly, by the Trustees) the
Convalescence Scheme for those individuals currently employed in the industy, or for those who have
been so employed at some time during the last forty years, who are currently sick or injured and who
have been certified by their own Doctor as being in need of convalescence rest. Commercial hotels in
Blackpool provide necessary accommodation, and visits are made during the year to the hotels used in
order to ensure the accommodation and service is appropriate for the needs of the convalescent and the
smooth operation of the Trust's Convalescence Scheme.
In 2024, the Trust arranged convalescence for 44 applicants who qualified for the assistance offered by
the scheme. This figure shows a decrease from those attending convalescence in 2023. This decrease is
mainly due to clients exhausting their entitlement of the convalescence scheme. Letters and cards had
been received from several clients who the convalescence, thanking the Trust in allowing them the
opportunity to recuperate. This appreciation also applied to the management and staff of both the
Imperial Hotel and the Headlands Hotel in Blackpool, for the most courteous and helpful way they were
treated, and for the excellent service provided.
Grants are available to be made under Section 12 (1) of the 1947 Act, to eligible individuals within the
scope of that provision who require a variety of needs and who may fall within the scope of the Act
under which the Trust operates.
With regard to the above, individual requests for grant aid can be made to the Trust. represented by
such organizations as the Age Concern, SAFA, CAB, Macmillan etc.
During 2024 the Trust considered the following grant applications:
l. Blesma the limbless Veterans Trust was awarded a grant of £1 0,000 for their work with ex service
personnel.
2 The Children Adventure Fann was awarded £35,200 towards a new project in 202412025.
3. £10,000 was awarded for the 2024 Textile Biennial Event workshops held in the Blackburn area.
4. A grant of £8,000 was awarded to Burnley Boys and Girls Club for premises re￿rbiShments.

THE COThON tNDUSTRY WAR MEMORIAL TRUST
THE ANNUAL REPORT OF THE TRUSTEES OF THE COTTON INDUSTRY WAR MEMORIAL
TRUST
Continued
5. £26,000 was made available to Foodbanks in Lancashire and South Yorkshire during the year.
6. A grant of £14,328 was awarded to Gawthorpe Textile Collection.
7. Grants of £5,000 each were awarded to MedEquip4kids, Together Dementia Support, S.E.N.
families support group and Saint Vincent De Paul
8. Manchester Outdoor Education Trust was awarded £ l 0,000 towards a new outdoor project
202412025.
9. A grant of £25,000 was awarded to Boomerang Bury for new equipment.
l O. Orchid was aivarded a grant of £6,000 towards providing cancer awareness workshops in two fornier
cotton textile towns in the North West of England.
I l. Accrington Stanley Community Trust was awarded a grant of £10,000 towards new sports
equipment.
12. Seashell Trust was awarded £30,000 towards extending the school premises.
13. A grant of £1 0,000 was awarded to Veterans into Logistics for fomier Amed Forces personnel
retraining.
14. Derby Toc H was awarded a grant of £8,000 towards providing respite care.
15. Newlyn Art Gallery was awarded £5,000 to help purchase Textile Machinery.
16. The Society of Dyers and Colourists was awarded £ l 0,000 towards hosting several workshops in
2024.
17. Garvald Weavers was awarded £5,450 for the purchase of new materials for their workshops.
Financial Review
The Trust's work is entirely reliant on income from its investments. The income on fixed interest
investments and on Charifund income units for 2024 was up in cotnparison to the previous year.
The value of the Trust's investments lias also increased during the year.
The Trustees consider that future income levels will be sufficient to cover the costs of the Trust.
Trust Investments
Acting on professional advice and within the provision of the Trustee Investment Act 1961, the Trustees
have made every endeavor to ensure that the investments held by the Trust have been acquired in good
faith and are fully in accordance with the powers given to them by The Cotton Industry War Memorial
Trust Act 1947.
Le
islation
During the year, various new elements of legislation have either been enacted or brought into force and
the Charity Commission is becoming more involved in the functions, finances and detailed activities of
Charities. Th¢ legislative changes are intended to meet the need for public accountability for resources
in the hands of Charities.

THE corfoN INDUSTRY WAR MEMORIAL TRUST
THE ANNUAL REPORT OF THE TRUSTEES OF THE COTTON INDUSTRY WAR MEMORIAL
TRUST
Continued
Reserves Polic
It is the policy of the Charity to maintain unrestricted funds, which are the free reserves of the Charity,
at a level they consider to be appropriate for maintaining the current levels of expenditure. This
provides sufficient funds to cover management and administration and support costs, and to respond to
emergency applications for funding, which arise from time to time,
Risk Mana
emcnt
The Trustees have examined the major strategic, business and operational risk which the Charity faces
and confimls that systems have been established to enable regular reports to be produced so that the
necessary steps can be taken to lessen the risk.
Future Plans
The Trust's plans for the future aims and key objectives will continue to offer what help it can, in grant
aid or other measures, in assisting individuals or organisations who request help, providing of course it
comes within the scope of the Cotton Industry War Memorial Trust Act 1947.
Trustees Res
onsibilities in Relation to the Financial Statements
Laws applicable to Charities in England and Wales requires the Trustees to prepare financial statements
for each financial year which give a true and fair view of the Charity's financial activities during the
year and of its financial position at the end of the year. In preparing those financial statements the
Trustees arc required to:
Select suitable accounting policies and then apply them consistently.
Make judgments and estimates that are reasonablc and prudent.
State whether applicable accounting standards and statements of recommended practice have
been followed subject to any departure disclosed and explained in the financial statements.
and
Prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Charity will continue in business.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy
at any time the financial position of the Charity and enable them to ensure that the financial statements
comply with the Charities Act 2011 They are also responsible for safeguarding the assets of the Charity
and hence for taking reasonable steps for thc prevention and detection of fraud and other irregularities.
Approved by the Truste¢s on Thursday 17 April 2025 and signed on their behalf by:
A P ROBINSON
CHAIRMAN

THE Co￿ON tNDUSTRY WAR MEMORIAL TRUST
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF THE COTTON tNDUSTRY WAR
MEMORIAL TRUST
Opinion
We have audited the financial statements of The Cotton Industry War Memorial Trust (the "Charity")
for the year ended 31" December 2024 which comprise the Statement of Financial Activitics, the
Balance Sheet and notes to the financial statements, including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law
and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial
Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted
Accounting Practice).
In our opinion, the financial statements:
the infonnation given in the trustees, report is inconsistent in any material respect with the
financial statements. or
give a true and fair view of the state of the Charity's affairs as at 31" December 2024 and of its
income and expenditure for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.
have been prepared in accordance with the requirements of the Charities Act 2011,
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor,
responsibilities for the audit of the financial statements section of our report. We are independent of the
Cliarity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
CoDclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees use of the going concern basis
of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability
to Continue as a going concern for a period of at least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described
in thc relevant sections of this report.
Other information
The trustees are responsible for the other inforniation. The other infom]ation comprises the inforn]ation
included in the annual report other than the financial statements and our auditor's report thereon. Our
opinion on the financial statements does not cover the other infom]ation and, except to the extent
otherwise explicitly stated in our report, we do not express any fom] of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other infonnation is materially inconsistent with the
financial statements or our knowledge obtained in the audit or othenvise appears to be materially
m isstated. If we identify sucli material inconsistencies or apparent material misstatements, we are

10
THE COTTON TNDUSTRY WAR MEMORIAL TRUST
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF THE COTTON tNDUSTRY WAR
MEMORIAL TRUST
Continued
required to determ ine whether there is a material misstatement in the financial statements or a material
Inisstatement of the other information.
If, based on the work we have perfomied, we conclude that there is a material misstatement of this other
inforniation, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, Annual Report.
We have nothing to report in respect of the following matters in relation to which the Charities Act
2011 requires us to report to you if, in our opinion:
sufficient accounting records have not been kept.
the financial statements are not in agreement with the accounting records and returns. or
we have not obtained all the infonnation and explanations necessary for the purposes of our
audit.
Responsibilities of the trustees
As explained more fully in the trustees, responsibilities statement set out on page 7, the trustees are
responsible for the preparation of the financial statements and for being satisfied that they give a true
and fair view, and for such internal control as they deterniine is necessary to enable the preparation of
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees ar¢ responsible for assessing the Charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going Concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease
operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate. they could reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect
or irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risk of material misstatement in respect of irregularities.
including fraud and non-compliance with laws and regulations was as follows:
we identified the laws and regulations applicable to the foundation from our knowledge and
experience of the charity sector.
the engagement partner ensured that the engagement team collectively had the appropriate
competence and skills to identify non compliance with applicable laws and regulations.
we assessed the risk of management override of controls, including through journal testing and
other adjustments for appropriateness.

THE corfoN INDUSTRY WAR MEMORIAL TRUST
INDEPENDENT AUDITORS REPORTTO THE TRUSTEES OF THE COTTON FNDUSTRY WAR
MEMORIAL TRUST
Continued
we reviewed the financial statement disclosures and tested to supporting documentation to
assess compliance with laws and regulations.
Owing to the inherent limitations of an audit, there is an unavoidable risk that some material
m isstatements in the financial statements may not be detected, even though the audit is properly planned
and perfonned in accordance with the ISAS (UK). For instance, the further removed non compliance is
from the events and transactions reflected in the financial statements, the less likely the auditor is to
become aware of it or to recognise the non-compliance. Also, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may
involve deliberate concealment or collusion.
A further descriptton of our responsibilitics is available on the Financial Reporting Council's website
at: ¥K'Ki'Ki. l-i'c.orL).Ii1. 1I1LicI iloi'.brL
)oii%ibi l ilics. This description forn]s part of our auditor's report.
As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintain
professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatcment of the financial statements. whether due
to fraud or error, design and perfonn audit procedures responsive to those risks, and obtain
audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
not detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal Control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the internal ¥ontrol.
Evaluate the appropriateness of accounting policies uscd and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees, use of the going concem basis of accounting
and. based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the Charity's ability to continue as a
going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in our auditor's report to tlie related disclosures in the financial statements or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor's report. However, future events or conditions
may cause the Charity to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including
the disclosures, and whether the financial statcments rcpresent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters. the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.

12
THE COTTON INDUSTRY WAR MEMORIAL TRUST
Use of our report
This report is made solely to the Charity's trustees, as a body, in accordance with section 144 of the
Charities Act 201 l and the regulations made under section 154 of that Act. Our audit work has been
undertaken so that we might state to the Charity's trustees those matters we are required to state to them
in an auditor's report and for no other purpose. To the fullest extent perniitted by law, we do not accept
or assume responsibility to anyone other than the Charity's trustees as a body, for our audit work, for
this report, or for the opinions we havc fonned.
Robert Mitchell (Senior Statutory Auditor)
For and on behalf of CWR Chartered Accountants and Statutory Auditor
20 Mannin Way
Lancaster Business Park
Caton Road
Lancaster
LAI 3SW
17, April 2025

13
THE COTTON tNDUSTRY WAR MEMORIAL TRUST
STATEMENT OF FINANCIALACTIVITIES
ST
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
NOTES LfNRESTRICTED RESTRICTED
FUNDS
FUNDS
2024
TOTAL
FLfNDS
2023
TOTAL
FLfNDS
tNCOME AND ENDOWMENTS
Incoming Resources from Generated
Funds..
Investment Income
424232
424232
398216
TOTAL tNCOME
424232
424232
398216
EXPENDITURE
Costs of Generating Funds..
Investment Management Costs
Charitable Activities
3611
376473
3611
376473
3631
348315
TOTAL EXPENDITURE
380084
380084
351946
NET INCOME FOR THE YEAR
44148
44148
46270
OTHER RECOGNISED
GAtNSI
LOSSES
Gain/(Loss) on Investment Assets
10
136729
136729
154868
NET MOVEMENT tN FUNDS
180877
180877
(108598)
RECONCILIATION OF FUNDS
TOTAL FLfNDS BROUGHT
FORWARD AT 1ST JANUARY 2024
5917296
790970
6708266
6816864
TOTAL FUNDS CARRIED FORWARD
AT 31ST DECEMBER 2024
6098173
790970
6889143
6708266

14
THE corfoN tNDUSTRY WAR MEMORIAL TRUST
BALANCE SHEET
AS AT 3 1ST DECEMBER 2024
UNRESTRICTED
FLtNDS
RESTRICTED
FUNDS
TOTAL
2024
TOTAL
2023
NOTES
FIXED ASSETS
Investments
6201639
790970
6992609
6757895
CURRENT ASSETS
Debtors
Cash at Bank and in Hand
44512
141647
44512
141647
42960
287091
12
TOTAL CURRENT ASSETS
186159
E86159
330051
LIABILITIES
Creditors: Amounts Falling
Due Within One Year
13
60040
60040
98026
NET CURRENT ASSETS
126119
126119
232025
TOTAL ASSETS LESS
CURRENT LIABILITIES
6327758
790970
7118728
6989920
Creditors.. Amounts Falling
Due After More Than One
Year
14
229585
229585
281654
TOTAL NET ASSETS
6098173
790970
6889143
6708266
FUNDS
16
6098173
790970
6889143
6708266
These Financial Statements were approved by the Trustces on 17 April 2025
A P ROBNSON
CHAIRMAN
The notes on Pages 15 to 21 forni part of these Financial Statements

[5
THE COTTON tNDUSTRY WAR MEMORIAL TRUST
NOTES TO THE FtNANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
PRINCIPAL ACCOUNTING POLICIES
Basis of
re
aration
The financial statements are prepared under the historical cost convention as modified by the
revaluation of fixed asset investments. The financial statements have been prepared in
accordance with the Charities Act 2011 and in compliance with the provisions of FRS102, 'The
Financial Reporting Standard applicable in the UK and the Republic of Ireland.
b)
Investment Income
Investsnent Income consists of income received in the year after adjusting for opening and
closing accrued income.
enditure
Expenditure is included on an accruals basis.
Charitable Activity Grants payable are charged in the year when the offer is conveyed to the
recipient except in those cases where the offer is conditional, such grants being recognised as
expenditure when the conditions attaching arc fulfilled. Grants offered subject to conditions
which have not been met at the year end are noted as a commitment, but not accrued as
expenditure.
Charitable Activity costs comprise costs for processing grants and applications, including
support to actual and potential applicants. Governance Costs comprises costs for the running
of tlie Charity itself as an organisation.
Where overhead and support costs cannot be directly attributed to either of these two categories,
it is estimated based on activity levels that 66.670/0 of staffing costs and 66.670/0 of the costs are
attributable to charitable costs with the balance attributable to governance costs. The allocation
of overhead and support costs is analysed in note 4.
Fixed Asset Investments
Investments are valued at the middle market price at the close of business on 3 1st December
2024.
d)
Gains/(Losses) arising on revaluation or disposal are recognised in note 10, Gain/(Loss) on
Investment Assets, and creditedlcharged to the Statement of Financial Activities.
Fund Accountin
Details of the nature and purpose of each fund is set out in note 16.
Pensions
Pension provisions are based on external valuations obtained by the Trustees. Details of the
current provision is set out in note 15.
Goin
Concern
The Trustees consider that there are no material uncertainties about the Charity's ability to
continue as a going concern.
g)
2. TNVESTMENT tNCOME
2024
21718
401478
1036
424232
2023
21718
375813
685
398216
Interest on UK Gilt Edged Securities and Fixed Interest Unit Trusts
Dividend on UK M & G Securities Charifund Income
Interest on Bank Dcposits

16
THE COTTON tNDUSTRY WAR MEMORIAL TRUST
NOTES TO THE FtNANCIAL STATEMENTS
FOR THE YEAR ENDED 3 1ST DECEMBER 2024
Continued
3. tNVESTMENT MANAGEMENT COSTS
2024
2023
Stockbrokers Fees
3611
3631
4. ALLOCATION OF SUPPORT COSTS AND OVERHEADS
Total
Charitable
Activities
Governance
Costs
Staff Costs
otrice Costs and Overheads
33766
5109
22512
3406
11254
1703
38875
25918
12957
5. CHARITABLE ACTIVITIES
2024
2023
Staff Costs
Office Costs and other Overheads
Convalescent Scheme Costs
Grants payable- see note 6
Governance Costs - see note 7
22512
3406
35437
285278
29840
21468
1719
32394
264325
28409
376473
348315

17
THE corroN tNDUSTRY WAR MEMORIAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3 1ST DECEMBER 2024
Continued
6. GRANTS PAYABLE
2024
2023
a) Children's Adventure Farm Trust
b) Leeds University
c) Medi Equip 4 Kids
d) Go Beyond
e) Bradford Textile Society
British Textile Biennial
g) Donations to 13 Regional Food Banks
h) Leeds Weekend Care
i) Boomerang Play Centre
j) Accrington Stanley Community Trust
k) Growthorpe
l) Seashell Trust
m) Rcfresh Carers
n) Orchid
o) SEN Manchester
p) Leeds Hospital Charity
q) Henshaw
r) Francis House Children's Hospice
s) Newlyn Art Gallery
t) Derby Toc H Children's Camp
u) Depaul UK Steps to Success
v) Bradford Inclusive Disability Service
w) Cartis Salford
x) Blesma
y) Chrysalis Holiday
z) Little Hearts Matter
aa) Textile Conservation Foundation
ab) Grove Tennis Club
ac) Heron Corn Mill
ad) The Shop of Hope
ae) Ribble Valley Art 4 All
aD Stick N Step
ag) Veterans Logistics
ah) Aspire Communities
ai) Playlist for Life
aj) Little Hiccups
ak) Leeds University- Debbie Bamford
al) Stanley Grange
am) Manchester Outdoor Education
an) Together Dementia
ao) Coactive Arts
ap) William Merit Centre
35200
59625
5000
3300
4500
6800
14000
5000
7000
i 0000
26000
3000
25000
i 0000
14328
30000
4000
6000
5000
i 0000
30000
6000
4500
5000
4000
i 0000
5000
3000
5000
8000
5000
4000
3300
i 0000
8000
10000
10000
5000
4000
10000
4000
1000
2000
850
1000
3500
10000
9000
1000
5000
2250
20000
i 0000
i 0000
5000
1000
1000
Carried forward
255828
264325

18
THE COTTON tNDUSTRY WAR MEMORIAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3 1ST DECEMBER 2024
Continued
GRANTS PAYABLE CONTINUED
2024
2023
Brought fonvard
255828
264325
aq) Garvald Edinburgh
ar) Bury Music Centre
as) Burnley Boys and Girls Club
at) The Society of Dyers and Colourists
au) Section 12(1) Grants
5450
5000
8000
i 0000
1000
285278
264325
RECONCILIATION OF GRANTS PAYABLE
Commitments at 1st January 2024
Comm itments Made in the Year
Commitments Met
105625
285278
337903
40000
264325
198700
Coinmitments at 31 st December 2024
53000
105625
7. GOVERNANCE COSTS
Staff Costs
Office Costs and Other Overheads
Auditor Fees for Audit Services
Auditors Fees for Other Services
Costs of Mcetings
11254
1703
5256
8562
3065
10733
861
5124
8244
3447
29840
28409
8. STAFF COSTS AND TRUSTEES, REMUNERATION
Salaries
Social Security Costs
33766
32201
33766
32201
The average number of cmployees during the year was
Trustees received no remuneration (2023: nil)
Travel allowances of £2120 were paid to Trustees (2023: £2351)

19
THE COTTON INDUSTRY WAR MEMORIAL TRUST
NOTES TO THE FTNANCIAL STATEMENTS
FOR THE YEAR ENDED 3 1ST DECEMBER 2024
Continued
9. FIXED ASSET INVESTMENTS
Movement in fixed asset investments
2024
2023
Market value at 1° January 2024
Add: Investments in Year at cost
6757895
97985
6855880
6912763
6912763
Less: Investments Realised in Year
6855880
136729
6912763
(154868)
Net Investment Gainsl(Losses) in Year (Note 10)
Market value at 3 ISI December 2024
6992609
6757895
Cost at 31, December 2024
2042212
1944228
Investments at market value comprised:
Equities
Fixed Interest Securities
6509786
482823
6245364
512531
6992609
6757895
All investments were held in the UK at 31, December 2024 and represented more than 50/0 of the
portfolio by market value.
I O. GAtNS/
LOSSES
ON INVESTMENT ASSETS
Realised Losses on Disposal of Investment Assets
Change in Unrealised Gain/(Losses) on Investment Assets
136729
(154868)
NET INVESTMENT GAtNSI
LOSSES
136729
(154868)
I I. DEBTORS
Prepayments
Accrued Income
218
44294
743
42217
44512
42960

20
THE COTTON tNDUSTRY WAR MEMORIAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3 1ST DECEMBER 2024
Continued
12. CASH AT BANK AND tN HAND
2024
2023
General Account
High Interest Reserve Account
Cash in Hand
101007
40640
222494
64597
141647
287091
13. CREDITORS: Amounts Fallin
Due Within One Year
Accruals
Pension Provision (Note 15)
22821
37219
62941
35085
60040
98026
14. CREDITORS: Amounts Fallin
Due After More Than One Year
Creditors
Pension Provision (Note 15)
39750
189835
53000
228654
229585
281654
15. PENSION PROVISION
The previous secretaries to the Trust retired in April 2009, April 2014, and April 2019. The Trustees
have agreed to pay each a discretionary pension for the terni of their lives.
A provision for the pensions is included within creditors notes 13 and 14. The provision is based
on an external valuation of the pensions obtained by the Trustees.
It has been decided by the Trustees that discretionary pensions will not be paid to the cu￿ent or
future sccretaries when they retire, New secretaries will be offered the opportunity to join a
contributory pension scheme.
16. FUNDS
Unrestricted Funds
These comprise those funds which the Trustees are free to use in accordance with the provisions
of The Cotton Industry War Memorial Trust Act 1947.

21
THE COTTON INDUSTRY WAR MEMOIUAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
Continued
Restricted Funds
This fund represents the capital of the trust established under the provisions of The Cotton Industry
War Memorial Trust Act 1947. Any accumulated income and surplus arising from sale of
investments are available to be used by thc Trustees at their discretion under the ternis of the Act.
17. RELATED PARTY TRANSACTIONS
No related party transaction took place during the year other than disclosed at note 8 for Trustee
expenses.