' THE LEAGUE OF REMEMBRANCE
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2014
Investment policy and performance
The Council reviews the investment performance of its portfolio three times per year. At each of these meetings, a representative
from CCLA Investment Management Umited (CCLA) has attended and CCLA's report has been discussed and reviewed in detail.
The charity's intention is to earn the maximum from its investments that is possible in current economic conditions and considers a
four monthly review will satisfy its needs.
The League's portfolio is invested in a number of COIF Charity Funds which are monitored and supervised for the benefits of
participating charities by an independent board of individuals with considerable investment, legal and other experience. As part of
its responsible approach, the COIF Charities Investment Fund Board has formally agreed to take into account social, environmental
and economic factors as part of the investment process. The three fold approach encompasses firstly the Fund's exclusions,
secondly a pro-active strategy with companies, and thirdly an active corporate governance policy.
The COIF Charities Investment Fund aims to avoid investing in companies whose main business is gambling, tobacco or
armaments, where there is 50% or more of turnover from gambling and tobacco, and 20% or more from armaments. The COIF
Charities Fixed Interest Fund will not hold corporate bonds issued by companies that are excluded by the COIF Charities
Investment Fund. The SRI policy followed by the COIF Charities Property Fund focuses more upon environmental issues.
Risk assessment
During the course of the Council meetings which take place throughout the year, Council members ensure that adequate measures
are being implemented to identify and mitigate the effects of any major risks to which the charity is exposed.
The financial risks associated with the charity's investments have been addressed by regular review of the portfolio performance in
the presence of a representative from the investment advisers.
As part of the League's contingency planning, the role of the Assistant Secretary has been broadened to provide continuity of
service should the Secretary be absent from work for any length of time.
Disclosure of information to the auditor
So far as each trustee at the date of approval of this report is aware:
- there is no relevant audit information of which the company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and
to establish that the auditors are aware of that information.
Statements of Trustees' responsibilities
The Council confirms that they have had due regard to guidance published by The Charity Comission in section 17 of the Charities
Act 2011 on public benefit.
The Council is required by UK company law to prepare financial statements for each financial year that give a true and fair view of
the state of affairs and the net surplus/deficit of the company as at the end of the financial year.
The Council confirms that suitable accounting policies have been used and applied consistently, and reasonable and prudent
judgements and estimates have been made in the preparation of the financial statements for the year ended 31 August 2014. The
Council also confirms that applicable accounting standards have been followed and that the financial statements have been
prepared on the going concern basis.
The Council is responsible for keeping proper accounting records to enable it to ensure that the financial statements comply with
the Companies Act 2006. It is also responsible for safeguarding the assets of the company and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
The report of the Council is prepared in accordance with the special provisions in section 415A of the Companies Act 2006 relating
to small companies.
4
