Charity registrdtion number 1001330 (England and Wales) Company registration number 02543708 THE WATERSIDE CENTRE, KINGS LANGLEY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE WATERSIDE CENTRE, KINGS LANGLEY LEGALAND ADMINISTRATIVE INFORMATION Trustees MrA. Donovan Mr l. Passey Mr R McLean Mrs S. Kidd Ms H. Fletcher Mrs S. Abbott Mr A Johnson (Appointed 27 January 20251 (Appointed 27 January 2025) Mi R Bright Chair Mr R. McLean Secretary Ms D. Bowman Centre Manager Ms D. Bowman Charity number 1001330 Company number 02543708 Principal address 63 Waterside King5 Langley Hertfordshire WD4 8HE Registered office 63 Walerside Kings Langley Hertfordshire WD4 8HE Independent examiner John Wilson FCAATII Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 ONE
THE WATERSIDE CENTRE, KINGS LANGLEY CONTENTS Page Trustees, report Slalemenl of Trustees, responsibilities Independent examinerfs report Slalemenl of financial activilies Balance sheet Notes lo the financial statement5 9-16
THE WATERSIDE CENTRE, KINGS LANGLEY TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. The financial slalemenls have been prepared in accordan with the accounting policies sel out in note 1 to the financial slalemenls and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance I'iilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019)" Objectives and activities The principal objects of the charity are lo enhance the life experien$ of persons with learning disabililiÈs and to offer opportunities lo develop the inlelleclual 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 allend the Cenlie on specified days each week. The Waterside Centre has a capaaty for up lo 60'People we support, who have used Ihe Centre and are whose needs are known to the Staff and Volunteers. Given the physical reslrictions of Ihe property il is only possible to cater for a maximum of 30 on any given day from that knoi'in 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 attendan on 2 daily basis or in some cases in blocks of days, thus the actual individuals %vho attend varies on a daisy basis. Hence our potential list of Clients being as high as 60 different individuals i'iith 30 in attendance over any given day of the week. The Centre has a significant number of potential Users viishing lo enjoy the services of Waterside and this is normally by viord of tnouth or reputation so ive do not operate a documented 'waiting list,, this is not necessary and of course we hope our reputation is sufficient to continually encourage new tjsers going foard. We regularly run 'taster days.. as requested, for Ihose polential Users who have heard about the services of Waterside. In most circumstances those individuals who have undertaken a 'laster day. end up allending 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 lo places of interest. The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the ¢harily should undertake. The Trustees also wish lo record their heartfelt thanks to the volunteers without wham the charity would be unable to maintain the quality of service al the level of expenditure that is currently enjoyed. We have four to five Volunteers available lo the Centre, often these are the parenls of offspring who are Clients of Waterside.
THE WATERSIDE CENTRE, KINGS LANGLEY TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance The Centre currently has 56 registered users. The sessions available for the people we support vary based on needs, requiremenls and demands. The variety of activities offered include arts and crafts, needlework, cookery. singing and dancing, literacy, table games, active games. quizzes and group discussion. Outside in the community there are village walks, swimming. gym. badminton and sailing. In addition there are visits to places of interest lo the people we support which have become regular since the lease of a minibus in late 2024. We have 14 contract staff, 4 bank staff and 3 volunteers. Currently there are 8 trustees The Centre is extremely grateful to all its staff, i'ihose dedication and hard work provides for a safe, inviting and inclusive place for the people we support. We knoi'i that the users and their families are appreciative of this. The Centre is also grateful to the lime invested by Ihe Iruslees and the other volunteers who either provide a governance role. assist the staff, or generally provide some help and support where necessary_ Financial review For the year ended 31 March 2025, the provisional results show InMe of £378k. up from £353k (2024). The increase has been as a result of the Sponsorship income rising by approximately 8 %. However this increase has been offset by a rise in charitable costs from £344k to £383K up 11 /0, With staff cost increases claiming the bulk of this, rising from £267k to £293k (up 10 /0 in the year}. The rising cost for staff was partly due to the changes in National Minimum and Living Wage, and will have a greater impact going forviard due to 2025-26 wage changes and national insurance changes. Overall this has resulted in the charity going from a small surplus in 2024 (£9k) to a deficit in 20251£5k), vihich has caused the reserves al the end of the year lo fall to £165K. The level of reserves provides an element of comfort. bul il does show the vulnerability to changes outside of the control of the Cenlre. After factors such as further changes to National Minimum Wage levels. full impact of the Employers National Insurance changes, ever increasing compliance both in terms of the provision for the Centre attendee5 and lo maintain and enhance the current setting. without a coiresponding increase in the Sponsorship Income, the Centre may be forced to use more of the Reserves in future years. and is expecting that to be the case for 2025- 26. This does mean that the Centre ivill need to constantly reMew ils operations and how il can continue meeting the needs of the Centre Users whi15t being able to manage the budget and work on the current income levels 11 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 monlh's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a material change lo ils major funding source, they will be able lo continue the charity's current activities while consideration is given to ways in which additional fund5 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.
THE WATERSIDE CENTRE, KINGS LANGLEY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, dLJring the year, evaluated the Reserves Policy of the Cenlfe In doing so, they identified that ils major funding source of income was from ils Service Users under the control of Hertfordshire County Council Commissioning. The Trustees agreed that any reserves policy set by the Centre would need lo be such that il addressed the risks of unplanned closure on the SeNice Users. staff and volunteers. The Trustees have designated funds to provide for the cost of maintenance Ihat is required lo the fabric of the charity's building. The provision exisls in order lo reGognise that the building must be maintained to a "fil for purpose" standard. Provisions will be made lo the Fund in future to ensure that the level of the Fund meets the Cenlre's needs. In summary the Trustees have agreed that the level of reserves should be set at: Risks of Unplanned Closure- £100.000 Building Exlernalllnlernal Repairs - £50.000 (held as a designated fund) With fund balances al 31 March 2025 of £170.612. the Ttustee5 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 lo 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 ofAssociation. the charity has the power lo make any investment that the Trustee5 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 chaiitable cornpany C'the chartty") was iegistered as a charity by the Charity Commission on 18 December 1990. The charity is constituted as a company limiled 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 bul the minimum number is six. The Trustees meet a minimum of six times per annum lo 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 allend the Centre and Trustees meetings to acquaint themselves with all aspects of the charity before they are forrnally invited to become Tru5tee5. Day lo day activities are delegated lo the manager and staff team. The Trustees regularly attend the centre and rnonilor activities. The Trustees, who are also the directors for Ihe purpose of company law. and who served during the year and up lo the dale of signature of the financial slalements were.. MrA. Donovan Mr l. Passey Mr R McLean Mrs S. Kidd Ms H. Fletcher Mrs S. Abbott MrA Johnson Mr R Bright (Appointed 27 January 2025) (Appointed 27 January 2025) None of the TrLJslees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee lo contribute £1 in the event of a winding up.
THE WATERSIDE CENTRE, KINGS LANGLEY TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The directors of the charitable company {'Ihe charity,) are ils Trustees for the purpose of charity law and throughout this report are referred lo as the Trustees. A list of the Trustees are given on the Legal and Administration page to the financial slalemenls. All of the Trustees named on Ihat page served during the year. The board of Trustees has the power to appoint addilional Trustees as il sees fil. Those Trustees appointed during the period plus one third of the existing Trustees musl 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. Mr R McLean Trustee Dated.
THE WATERSIDE CENTRE, KINGS LANGLEY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are a150 the directors of The Waterside Cenlre. 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 lo prepare financial statements for each financial year which give a true and fair view of the slate 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 lo.. select suitable accounting policies and then apply them consistently- observe the methods and principles in Ihe Charities SORP.. make judgements and eslimales that are reasonable and prudent.. slate whether applicable UK Accounting Standards have been followed. subject lo any material departures disclosed and explained in the financial statements", and prepare the financial statements on the going conceffl basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial pos11ion of the charity and enable them to ensure that the financial slalemenls 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.
THE WATERSIDE CENTRE, KINGS LANGLEY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WATERSIDE CENTRE. KINGS LANGLEY I 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 2025. Responsibilities and basis of report As the Trustees of the charity (and also ils 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. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respeGI of my examination of the charity's financial slalemenls carried out under section 145 of the Charities Act 2011 . In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5){bl of the Charities Act 2011 . Independent examiner's statement Since the charity's gross income exceeded £250.000. Ihe independent examiner musl be a member of a body listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one ofthe listed bodie5. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe Ihal in any material respect". accounting records were not kepl in respect of the charity as required by section 386 of the Companies Act 2006. the financial slalemenls do not accord with those records-. or the financial statements do not comply with the accounling requirements of section 396 of the Companies Act 2006 other than any requirement that the financial slalemenls give a true and fair vieiv, which is not a matter considered as part of an independent examinalion-: or the financial statements have not been prepared in accordance Nyith the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ,•Ji,I John Wilson FCA ATII Howard Wilson Chartered Accountants 36 Crown Rise Walford Hertfordshire WD25 ONE Dale..
THE WATERSIDE CENTRE, KINGS LANGLEY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Restricted funds 2025 Total Unrestricted funds 2024 2025 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income 3.262 369,929 1.298 2,127 242 1,186 4,448 369.929 1.298 2.127 242 6,364 345,163 1,184 762 100 Total income 376.858 1.186 378,044 353,573 Expenditure on: Raising funds Charitable activities 60 384.480 30 344,171 383.294 1.186 Total expenditure 383.354 1.186 384,540 344,201 Net incomellexpenditurel and movement in funds (6,496) 16,496) 9,372 Reconciliation of funds: Fund balances al 1 April 2024 170,612 170,612 161,240 Fund balances at 31 March 2025 164.116 164,116 170,612 The statement of financial a¢livilie5 includes all gains and losses recognised in the year. All income and expenditure derive Irom continuing aclivilies.
THE WATERSIDE CENTRE, KINGS LANGLEY BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 13 3,303 Current assets Debtors Cash al bank and in hand 14 35,187 136.056 32,193 141,977 171.243 174,170 Creditors.. amounts falling due within one year 15 (10.430) (3.558) Net current assets 160.813 170,612 Total assets less current liabilities 164,116 170,612 The funds of the charity Unrestricted funds 18 164,116 170,612 164,116 170,612 The company is entitled to the exemption from Ihe audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accaunling records and the preparation of financial slalements. The members have not required the company to obtain an audil of its financial statements for the year in question in accordance with Section 476. These financial statements have been prepared in accordance with the prowsions applicable lo companies subject lo the small companies regime. The financial statements were approved by the Trustees on ....... Mr l. Passey Trustee Mr R McLean Trustee Company registration number 02543708 (England and Wales)
THE WATERSIDE CENTRE, KINGS LANGLEY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity infomiation The V4Jalerside Cenlre. Kings Langley is a private company limited by guarantee incorporated in England and Wales. The registered office 1$ 63 WaleTside, 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 viinding 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 'Limiled' in the tille. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Memorandum and Articles of AssociatlDn, the Companies Act 2006 and "Accounting and Reporting by Charilie5'. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191" 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 FIoNvs. The financial statements are prepared in sterling, Ivhich 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 Ihe hislorical cosl convention. The principal accounting policies adopted are set out below_ 1.2 Going concern Al the lime of approving the financial statements. the Truslees have a reasonable expectation that Ihe charity has adequate resources ID continue in operational existence for the foreseeable future. Thus the Trustees cor)tinue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unreslricled 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 enlilled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be reoived. Cash donations are recognised on leIpl. Other donations are recognised once Ihe Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is reGognised at the lime of the donation. 1.5 Expenditure Resources expended are included in the Statement of Finanaal Activities on an accruals basis inclusive of VAT. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation, nel of depreciation and any impairment losses.
THE WATERSIDE CENTRE, KINGS LANGLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Depreciation is recognised so as lo write off the cost or valuation of assets less Iheir residual values over their useful lives on the following bases- Plant and machinery 25°k 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. Assets costing under £1,500 are chaiged directly to the Slalement of Financial Activities in the year of purchase. Where capital items are acquired through donations received. those assels are wrillen off in the year ol purchase. 1.7 Impaimient of fixed assets At each reporting end date, the charity reweiv5 the carrying amounts of its tangible assets to delerrnine 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 lo determine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposils held at call wilh banks, other 5hort-term liquid investments with original maturities of three monlhs or less, and bank overdrafts. Bank overdrafls are shown within borroivings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity'5 balan sheet when the charity becomes party to the contractual provisions of the inslrumenl. Financial assets and liabilities are offset, with the net amounts presented in Ihe financial staternents, when there is a legally enforceable righl to sel off the recognised amounts and there is an intention to settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic financial assets 8asiG financial assets. which include debtors and cash and bank balances, are initially measured al 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 al the present value of the future receipts discounted at a market rate of interest. Financial assets classifièd as receivable ivilhin one year are not amortised. 10-
THE WATERSIDE CENTRE, KINGS LANGLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continuedl Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement conslitules a financing transaction, where the debt instrument is measured at the present value of the future payments discounted al a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cosl. using the effective interest rale method. Trade creditors are obligations lo 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 al transaction price and subsequently measured at amortised cost using Ihe effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the chanty's conlfaclual obligations expire or are discharged or cancelled. 1.10 Taxation The activities of the charity are exempt from Cortioration Tax under Section 505 of the Income and Corporation Taxes Act 1988 to the extent that they are applied lo 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 lo provide termination benefits. 1.12 Retirement benefits Payments to defined contribulion retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounling policies, the Trustees are required lo 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 a based on historical experience and other factors that are considered lo be relevant. Actual results may differ from thèse eslimales. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales 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. Income from donations and legacies Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Donations and gifts 3.262 1.186 6.364 6,364 11
THE WATERSIDE CENTRE, KINGS LANGLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charitable activities Unrestricted funds 2025 Unrestricted funds 2024 Charitable activities Sponsorship income Activities and outings Lunch receipts 337,095 4,391 28,443 314,955 4,373 25,835 369,929 345,163 Income from other trading activities Unrestricted Unrestricted funds funds 2025 2024 Other trading activities 1,298 1,184 Income from investments Unrestricted Unrestricted funds funds 2025 2024 Interest receivable 2,127 762 Other income Unrestricted Unrestricted funds funds 2025 2024 Other income 242 100 12
THE WATERSIDE CENTRE, KINGS LANGLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on raising funds Unrestricted Unrestricted funds funds 2025 2024 Community fundraising, events and sponsorship Other fundraising costs 60 30 Charitable activities 2025 2024 Staff costs Depreciation and impaiment Material costs Lunches Rent & rates Light, heat and water Repairs and renewals Office costs Staff expenses Insurance Equipment hire Legal and professional Staff training Activities and outings Sundry expenses Governance costs Other charitable expenditure 293,110 1,101 13,484 22,312 9,000 9,264 2.882 3,300 3,963 3,854 6.816 3.873 588 8.712 136 1,249 836 267.089 1,743 11,500 16,794 9,OQO 6,607 7,720 3,048 2,637 3,160 1,240 4,939 610 6,666 265 1,153 384.480 344,171 Analysis by fund Unreslricled funds Reslricled funds 383.294 1,186 344,171 384,480 344,171 Governance costs comprise independenl examinerfs fees of £1.249 (2024 - £1.153). 10 Trustees None of the Trustees (or any persons connected with Ihem) received any remuneration during the year. 13-
THE WATERSIDE CENTRE, KINGS LANGLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Employees Number of employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Direct charitable work Management Adminislralive 14 12 Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 274,190 13,898 5,022 249,489 12,888 4,712 293,110 267,089 There were no employees whose annual remuneration was £60.000 or more. 12 Taxation The charity is exempl from taxation on ils activities because all ils income is applied for charitable purposes. 13 Tangible fixed assets Plant and machinery Cost Al 1 April 2024 Additions 9,372 4,404 At 31 March 2025 13,776 Depreciation and impaimient Al 1 April 2024 Depreciation charged in the year 9,372 1,101 At 31 March 2025 10,473 Carrying amount At 31 March 2025 3.303 At 31 March 2024 14-
THE WATERSIDE CENTRE, KINGS LANGLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Prepayments and accrued income 31,930 3,257 28,832 3.361 3S,187 32,193 15 Creditors: amounts falling due within one year 2025 2024 Other taxalion and social security Trade creditors Other creditors Accruals and deferred income 4,420 3,688 1.122 1.200 1,437 921 1,200 10,430 3,558 16 Retirement benefit scheTnes 2025 2024 Defined contribution schemes Charge lo profit or loss in respect of defined contribution schemes 5,022 4,712 The charity operates a defined contribution pension scheme for all qualifying employees. The 2ssels of the scheme are held separately from those of the charity in an independently administered fund. 17 Restricted funds The reslricled funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2024 Incoming resources Rèsources At 31 March expended 2025 Minibus Fund 1,186 (1,1861 The Minibus Fund is for donations lo fund the costs of a minibus for the charity 15-
THE WATERSIDE CENTRE, KINGS LANGLEY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unreslricled funds by the trustees for specific purposes. At 1 April 2024 Incoming Resources At 31 March resources expended 2025 General funds 170.612 376,858 1383,354) 164.116 Previou5 year: At 1 April 2023 Incoming resources Resources At 31 March expended 2024 Contingency Fund General funds 50.000 111.240 50,000 120,612 353,573 (344,2011 161.240 353,573 (344,2011 170,612 The contingency fund has been established to prowde for the cost of maintenance that is required to the fabric of the charity's building. The provision exists in order lo recognise that the building must be maintained to a "fit for purpose" level for the period of the lease Ivhich l'ias renelved 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 Cenlre's needs. 19 Related party transactions There were no disclosable related party transactions during the year (2024 - none). 16-