THE LEAGUE OF REMEMBRANCE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2014
14 Other financial commitments
2014
£
At the year end the company had annual commitments under non-cancellable operating leases as set out below:
2013
£
Operating leases which expire:
within one to two years
9,20 0
9,200
15 Endowment Fund
The Council of the League acts as Trustee of the League of Remembrance (1914-45) Endowment Trust Fund, which is a
restricted fund which must be preserved for the purpose of endowment. All contributions to the Fund are invested in the name
of the League, and the investments must be kept separate from the other funds of the League.
The capital of the Trust Fund has been placed in the care of the charity commissioners COIF as the best way of securing the
perpetuity of the Fund.
The income of this fund is to be paid to the League and to be used for general purposes in accordance with the establishment
of the Fund on 26 November 1931 and is therefore unrestricted.
16 Operating Fund
The Operating Fund is an unrestricted fund that is used to further the charity's objectives. The fund has arisen over many years
of the charity investing large donations and legacies into various types of investment to give the charity a regular return in order
to carry out its charitable activities.
17 Status of the company
The League of Remembrance is a company limited by guarantee. The liability of each member is limited to £1.
The company is under the control of the trustee directors as listed in the Directors' and Trustees' Report. There is no overall
18 Control
control.
17
