INDEPENDENT AUDITOR'S REPORT TO THETRUSTEES OF
THE LEAGUEOFREMEMBRANCE
We have audited the financial statements of The League of Remembrance for the year ended 31 August 2014 which comprise
the Statement of Financial Activities, the Statement of Total Recongnlsed Gains and Losses, the Balance Sheet and the related
notes.
The financial reporting framework that has been applied In their presentation Is applicable law and the Financial Reporting
Standard for Smaller Entities (Effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to smaller
entitles).
This report is made solely to the company's members, as a body, In accordance with Chapter 3 of Part 16 of the Companies Act
2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to
state to them In an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this
report, or for the opinions we have formed.
Respective Responsibilities of directors and the auditors
As explained more fully In the Trustees' Responsibilities Statement set out on page 4 the trustees (who are also the directors of
the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for
being satisfied that they give a true and fair view.
Our responsibility Is to audit and express an opinion on the financial statements In accordance with applicable law and
International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's
(APB's) Ethical Standards for Auditors.
Scope of the audit of the financial statements
An audit Involves obtaining evidence about the amounts and disclosures In the financial statements sufficient to give reasonable
assurance that the financial statements are free frommaterial misstatement, whether caused by fraud or error. This Includes an
assessment of: whether the accounting policies are appropriate to the charitable company's circumstances and have been
consistently applied and adequately disclosed; the reasonableness of significant accounting'estimates made by the trustees; and
the overall presentation of the financial statements. In addition, we read all the financial and non-financial information In the
chairman's and trustees' report to Identify material inconsistencies with the audited financial statements. If we become aware of
any apparent material misstatements or Inconsistencies we consider the Implications for our report.
Matters onwhich we are required to report by exception
We have nothing to report In respect of the following matters where the Companies Act 2006 requires us to report to you If, In
our opinion:
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches
not visited by us; or
the financial statements are not In agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
the trustees were not entitled to prepare the financial statements In accordance with the small companies regime and take
advantage of the small companies exemption In preparing the directors' report.
ft
THE LEAGUE OFREMEMBRANCE
NOTESTOTHE FINANCIAL STATEMENTS
FORTHE YEAR ENDED 31 AUGUST 2014
1 Principal accounting policies
These financial statements have been prepared under the historical cost convention as modified by the revaluation of
Investments and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP
2005) issued in March 2005, with the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Companies
Act 2006. The principal accounting policies are set out below.
Incoming resources
Donation and Investment income Is accounted for on a receivables basis. Income tax recoverable on gift aid Is accounted for on
an accruals basis.
Resources expended
Cost of charitable expenditure includes those expenses Incurred directly by the Remembrance Workers and costs from
fundraising activities. The remaining expenditure Is classified under governance of the charity and Includes costs Incurred for
the maintenance of the charity.
Resources expended are recognised In the period In which the obligation arises. Resources expended Include attributable VAT
which cannot be recovered.
Tangible fixed assets
The cost of tangible fixed assets Is their purchase cost, together with any Incidental expenses of acquisition. The cost of
furniture, fittings and other office contents is charged to Income and expenditure In the year of acquisition, where such costs
per item are less than £500.
Depreciation Is calculated so as to write off the cost or valuation of tangible fixed assets, less their estimated residual values, on
a straight line basis over the expected useful economic lives of the assets concerned. The annual rate used for this purpose Is
20%on computer equipment.
Fixedasset Investments
Fixed asset investments are recorded at market value at the balance sheet date. Changes in value during the year, and profits
and losses on sales, are reported In the Statement of Financial Activities.
Fundstructure
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 Income from these
reserves is expendable.
The remaining reserves relate to an unrestricted operating fund, generating Income for the charity to use In accordance with its
objectives.
Operating lease commitments
Rentals applicable to operating leases are charged to the Statement of Financial Activity over the period In which the cost is
Incurred.
2 Donations
2014
2013
£
/
Donations
42,255
22,618
42,255
22,618
13
