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2024-03-31-accounts

Charity registration number 1001330

Company registration number 02543708 (England and Wales)

THE WATERSIDE CENTRE, KINGS LANGLEY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

THE WATERSIDE CENTRE, KINGS LANGLEY

LEGAL AND ADMINISTRATIVE INFORMATION

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Trustees

Mr A. Donovan

Mr I. Passey Mr R McLean Mrs S. Kidd Ms H. Fletcher Mrs S. Abbott

Chair Mr R. McLean Secretary Ms D. Bowman Centre Manager Ms D. Bowman Charity number 1001330 Company number 02543708 Principal address 63 Waterside Kings Langley Hertfordshire WD4 8HE

Registered office 63 Waterside Kings Langley Hertfordshire WD4 8HE

Independent examiner

John Wilson FCA ATII Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 ONE

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THE WATERSIDE CENTRE, KINGS LANGLEY

CONTENTS

Page
Trustees’ report 1-4
Statement ofTrustees’ responsibilities 5
Independent examiner's report 6
Statement offinancial activities 7
Balance sheet 8
Notestothefinancialstatements 9-17

| | THE WATERSIDE CENTRE, KINGS LANGLEY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024 eee

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The principal objects of the charity are to enhance the life experiences of persons with learning disabilities and to offer opportunities to develop the intellectual capacity and abilities of such persons that they may achieve their full potential both as individuals and members of society.

To meet the aims, people with learning disabilities are sponsored by Hertfordshire County Council Adult Care Service, Charities, and individuals to attend the Centre on specified days each week.

The Waterside Centre has a capacity for up to 60 ‘People we support’ who have used the Centre and are whose needs are known to the Staff and Volunteers. Given the physical restrictions of the property it is only possible to cater for a maximum of 30 on any given day from that known pool of 60, therefore some scheduling needs to be in place to ensure the correct balance of User needs, space, activities, and support staff are available to ensure a safe experience.

The ‘People we support’ (this is the new name for Clients) purchase attendance on a daily basis or in some cases in blocks of days, thus the actual individuals who attend varies on a daily basis. Hence our potential list of Clients being as high as 60 different individuals with 30 in attendance over any given day of the week.

The Centre has a significant number of potential Users wishing to enjoy the services of Waterside and this is normally by word of mouth or reputation so we do not operate a documented ‘waiting list’, this is not necessary and of course we hope our reputation is sufficient to continually encourage new users going forward.

We regularly run ‘taster days’, as requested, for those potential Users who have heard about the services of Waterside. In most circumstances those individuals who have undertakena ‘taster day’ end up attending on a regular basis for maybe two or three days a week.

The variety of activities offered includes needlework, cookery, arts and crafts, woodwork, singing and dancing, basic numeracy, literacy and computer skills, discussion and group work.

Outside in the community we offer regular walks and some gardening. We also offer swimming, gym, badminton and trips to places of interest.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The Trustees also wish to record their heartfelt thanks to the volunteers without whom the charity would be unable to maintain the quality of service at the level of expenditure that is currently enjoyed. We have four to five Volunteers available to the Centre, often these are the parents of offspring who are Clients of Waterside.

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THE WATERSIDE CENTRE, KINGS LANGLEY | TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Following an extensive Framework Tender process in 2021, Hertfordshire County Council Commissioning awarded a three year contract to The Waterside Centre. This allows us to retain existing service users who will passport to the new system and choose new referrals. HCC will monitor the centre to ensure the development of individuals over the period of the contract with demonstrable and measurable outcomes.

The third annual Contract Monitoring took place in June 2024. Their report rated the Centre as GOOD.

The Trustees recognise that the award of the contract is a significant outcome for the Centre. We give thanks to the management and staff in completing the framework application and continuing to operate the Centre to the highest standards in compliance with covid and other protocols.

Following discussions with the Trustees, Dacorum Borough Council have renewed the lease for the Waterside building for a period of 15 years. DBC also awarded discretionary rates relief to the Centre for a period of 3 years.

The major issue in expanding the service is clearly the physical limitations on the building structure, it is not designed to readily offer space for, say, multiple wheelchair users, much as we would like to offer this service and indeed there is an increasing demand.

We do prioritise requests for additional days from existing and known and regular Service Users as their requirements are known to both the Staff and Volunteers and we have a record of being able to cope with the specific needs of those familiar and regular Clients.

Staffing numbers are both good and adequate to the existing needs. Should we, at some point find new and more sizeable premises, we think unlikely in the current financial climate being experienced by Local Authorities, we would certainly need to recruit additional staff both at the permanent and Volunteer level.

Our current permanent staffing at Management and Administration level is three, this is supplemented by thirteen contracted staff and a further four Bank staff, the latter two categories attend as needed and are paid individuals, this is to all intents and purposes a ‘Zero hours’ contract type of system which works well for the Centre.

There is a formal training regime for staff which is formally documented and recorded and is available to all staff. This is dictated by the Local Authority and is monitored by both the Trustees and Hertfordshire County Council. This is regularly reviewed as part of the Hertfordshire County Council ongoing contract management. It also forms a regular item on the meeting of Trustees. In addition Policies, covering all aspects of the service are developed by the Centre Management and Trustees and are reviewed and updated on a regular basis. Key among these are policies on Safeguarding, Data Protection, Social Media standards and usage and many more. A full review of all the Centres policies has taken place over the past three months and registered and documented, they are available for viewing and necessary.

Financial review

The Trustees report that there was a surplus for the year of £9,372 compared to a small deficit in the previous period of £807. The main reason for the increased performance was due to the Centre being at capacity during the year, with increased Sponsorship income being partly offset by higher staff costs.

The charity aims to maintain staffing ratios and skills at the existing level to ensure that a positive and enhancing service is provided to all Service Users who attend the Centre.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three month's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a material change to its major funding source, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been increased during the year. The Trustees have agreed that the level of reserves held should be subject to review on an annual basis.

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THE WATERSIDE CENTRE, KINGS LANGLEY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) | FOR THE YEAR ENDED 31 MARCH 2024 eee The Trustees, during the year, evaluated the Reserves Policy of the Centre. In doing so, they identified that its major funding source of income was from its Service Users under the control of Hertfordshire County Council Commissioning. The Trustees agreed that any reserves policy set by the Centre would need to be such that it addressed the risks of unplanned closure on the Service Users, staff and volunteers. The Trustees have designated funds to provide for the cost of maintenance that is required to the fabric of the charity's building. The provision exists in order to recognise that the building must be maintained to a "fit for purpose" standard. Provisions will be made to the Fund in future to ensure that the level of the Fund meets the Centre's needs.

In summary the Trustees have agreed that the level of reserves should be set at:

Risks of Unplanned Closure - £100,000

Building External/Internal Repairs - £50,000 (held as a designated fund)

With fund balances at 31 March 2024 of £170,612, the Trustees have agreed to enter a lease contract for two years for a minibus. This will provide many more opportunities for external activities and visits. The minibus is due to be delivered in October 2024. The Centre will look to obtain donations to offset the lease and running costs of the minibus.

Under the Memorandum and Articles of Association, the charity has the power to make any investment that the Trustees see fit.

Structure, governance and management The charitable company is governed by a Memorandum and Articles of Association and was incorporated on 27 September 1990. The Memorandum and Articles of Association was amended by a resolution dated 22 November 1990. The charitable company ("the charity") was registered as a charity by the Charity Commission on 18 December 1990.

The charity is constituted as a company limited by guarantee with a board of Trustees, who are also Directors of the charity for Companies Act purposes. There is no maximum number of Trustees that can be appointed but the minimum number is six. The Trustees meet a minimum of six times per annum to oversee the running of the organisation. Their responsibilities are defined in the Articles of Association. No remuneration is payable to the members of the Management Committee. Suitable candidates are identified and invited to join the Trustee body. Prospective Trustees are invited to attend the Centre and Trustees meetings to acquaint themselves with all aspects of the charity before they are formally invited to become Trustees.

Day to day activities are delegated to the manager and staff team. The Trustees regularly attend the centre and monitor activities.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

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Mr J. Biggs (Resigned 19 August 2023)
Mr A. Donovan
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Mr I. Passey Mr R McLean

Mrs S. Kidd Mrs T Moloney (Resigned 15 January 2024)

Ms H. Fletcher Mrs S. Abbott

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

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THE WATERSIDE CENTRE, KINGS LANGLEY

| TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The directors of the charitable company (‘the charity’) are its Trustees for the purpose of charity law and throughout this report are referred to as the Trustees. A list of the Trustees are given on the Legal and Administration page to the financial statements. All of the Trustees named on that page served during the year. The board of Trustees has the power to appoint additional Trustees as it sees fit. Those Trustees appointed during the period plus one third of the existing Trustees must retire by rotation at the next Annual General Meeting. All retiring Trustees are eligible for re-election.

The Trustees’ report was approved by the Board of Trustees. theK noes . Mr R McLean Trustee Dated: 24 October 2024

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THE WATERSIDE CENTRE, KINGS LANGLEY

STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

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The Trustees, who are also the directors of The Waterside Centre, Kings Langley for the purpose of company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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| | report to the Trustees on my examination of the financial statements of The Waterside Centre, Kings Langley (the | charity) for the year ended 31 March 2024. |

THE WATERSIDE CENTRE, KINGS LANGLEY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WATERSIDE CENTRE, KINGS LANGLEY

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of ICAEW, which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in thiswe to enable a proper understanding of the financial statements to be reached. all John Wilson FCA ATII

Howard Wilson Chartered Accountants

36 Crown Rise Watford Hertfordshire WD25 ONE

Dated: 24 October 2024

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THE WATERSIDE CENTRE, KINGS LANGLEY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

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Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income and endowments from:
Donations and legacies 3 6,364 9,054
Charitable activities 4 345,363 288,321
Othertrading activities 5 984 477
Investments 6 762 23
Otherincome 7 100 1,614
Total income 353,573 299,489
Expenditure on:
Raising funds 8 30 370
Charitable activities 9 344,171 299,926
Totalexpenditure 344,201 300,296
Netincome/(expenditure) andmovementinfunds 9,372 (807)
Reconciliation offunds:
Fund balances at 1 April2023 161,240 162,047
Fundbalancesat31March2024 170,612 161,240

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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THE WATERSIDE CENTRE, KINGS LANGLEY

BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 14 - 1,743
Current assets
Debtors 15 32,193 26,618
Cash at bank and in hand 141,977 135,736
174,170 162,354
Creditors: amounts falling duewithin
oneyear 16 (3,558) (2,857)
Net current assets 170,612 159,497
Total assets less current liabilities 170,612 161,240
Income funds
Unrestricted funds
Designated funds 18 50,000 50,000
General unrestricted funds 120,612 111,240
170,612 161,240
170,612 161,240

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 24 October 2024

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Mr I. Passey Mr R McLean Sf.
Trustee LF 7 / of ae,e
Company Registration No. 025437YS Trustee CCon
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| THE WATERSIDE CENTRE, KINGS LANGLEY | NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Charity information

The Waterside Centre, Kings Langley is a private company limited by guarantee incorporated in England and Wales. The registered office is 63 Waterside, Kings Langley, Hertfordshire, WD4 8HE.

The company is a private company limited by guarantee and not having any share capital. The extent of the liability of the members of the company on a winding up is limited to a maximum of one pound each. The company is also a registered charity and accordingly no liability to corporation tax arises on the financial statements.

The charitable company has an exemption under section 30(5) of the Companies Act 1985 from using ‘Limited’ in the title.

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Resources expended are included in the Statement of Financial Activities on an accruals basis inclusive of VAT.

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THE WATERSIDE CENTRE, KINGS LANGLEY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) | FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery

25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Where capital items are acquired through donations received, those assets are written off in the year of purchase.

1.7. Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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THE WATERSIDE CENTRE, KINGS LANGLEY | NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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1 Accounting policies (Continued)
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Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The activities of the charity are exempt from Corporation Tax under Section 505 of the Income and Corporation Taxes Act 1988 to the extent that they are applied to the organisation's charitable objects.

1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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THE WATERSIDE CENTRE, KINGS LANGLEY

| NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 6,364 8,384
Grants - 670
6,364 9,054
Grants
Rozenn Solutions - 670
- 670
Provision ofactivities forpeople with learning disabilities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Sponsorship income 314,955 266,550
Activities and outings 4,373 3,228
Lunch receipts 25,835 18,543
Charitable rental income 200 -
345363 288,321

4 Provision of activities for people with learning disabilities

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other trading activities 984 477

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THE WATERSIDE CENTRE, KINGS LANGLEY

| NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6 Income from investments

Interest receivable

Unrestricted Unrestricted
funds funds
2024 2023
£ £
762 23

7 Other income

Other income

Unrestricted Unrestricted
funds funds
2024 2023
£ £
100 1,614

8 Raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Community fundraising, events and sponsorship
Otherfundraising costs 30 370
30 370

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THE WATERSIDE CENTRE, KINGS LANGLEY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) | FOR THE YEAR ENDED 31 MARCH 2024

9 Charitable activities

2024 2023
£ £
Staff costs 267,089 241,139
Depreciation and impairment 1,743 1,743
Material costs 11,500 9,635
Lunches 16,794 8,461
Rent & rates 9,000 9,000
Light, heat andwater 6,607 6,421
Repairs and renewals 7,720 4,831
Office costs 3,048 3,375
Staffexpenses 2,637 2,223
Insurance 3,160 2,425
Equipment hire 1,240 1,371
Legal and professional 4,939 3,766
Staff training 610 86
Activities and outings 6,666 3,977
Sundry expenses 265 320
Governance costs 1,153 1,153
344,171 299,926
Analysis byfund
Unrestricted funds 344,171 299,926
Governance costs comprise independent examiner's fees of£1,153 (2023 - £1,153).
10 Netmovement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation ofowned tangible fixed assets 1,743 1,743
11. Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year.

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THE WATERSIDE CENTRE, KINGS LANGLEY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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12 Employees

Number of employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Direct charitablework 12 11
Management 2 2
Administrative 1 1
15 14
Employment costs 2024 2023
£ £
Wagesand salaries 249,489 224,665
Social security costs 12,888 12,089
Otherpension costs 4,712 4,385
267,089 241,139

There were no employees whose annual remuneration was £60,000 or more.

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Tangible fixed assets
Plant and
machinery
£
Cost
At 1 April2023 9,372
At 31 March 2024 9,372
Depreciation and impairment
At 1 April2023
Depreciation charged in theyear		 7,629
1,743
At31 March 2024 9,372
Carrying amount
At 31 March 2024
-
At31March2023 1,743

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| NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) | FOR THE YEAR ENDED 31 MARCH 2024 a | | 15 Debtors

THE WATERSIDE CENTRE, KINGS LANGLEY

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |a|rrr| |15|Debtors| |2024|2023| |Amounts|falling|due|within|one|year:|£|£| |Trade|debtors|28,832|23,260| |Prepayments|and|accrued|income|3,361|3,358| |32,193|26,618| |16|Creditors:|amounts|falling|due|within|one year| |2024|2023| |£|£| |Trade|creditors|1,437|856| |Other|creditors|921|801| |Accruals|and|deferred|income|1,200|1,200| |3,558|2,857| |17|Retirement|benefit schemes| |2024|2023| |Defined|contribution|schemes|£|£| |Charge|to|profit|or|loss|in|respect|of defined|contribution|schemes|4,712|4,385|

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The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

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THE WATERSIDE CENTRE, KINGS LANGLEY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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18 Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Movement Movement
in funds in funds
1 Balanceat
April2022		 Incoming
resources		 Balanceat
1 April 2023		 Incoming
resources		 Balanceat
31 March 2024
£ £ £ £ £
ContingencyFund 50,000 - 50,000 - 50,000
50,000 - 50,000 - 50,000

The contingency fund has been established to provide for the cost of maintenance that is required to the fabric of the charity's building. The provision exists in order to recognise that the building must be maintained to a "fit for purpose" level for the period of the lease which was renewed for a period of 15 years during the year. Provisions will be made to the Fund in future to ensure that the level of the Fund meets the Centre's needs.

19 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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