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2022-03-31-accounts

Trustees John Casstles
Harjit Grewal
Steve McNicholas
Pam Parmar
Alec Ray
Syd Nadim
Honorary Presidents Dean Russell MP
Peter Taylor, elected Mayor of Watford
Baroness Thomhill MBE
Honorary Vice Presidents Pearline McFarlane
Phil Willerton
Chair Guy Foxell (retired 18 May 2022)
Syd Nadim (from 18 May 2022)
Vice Chair Alec Ray
Treasurer and Company Secretary John Casstles
Chief Executive Officer Bob Jones
Charity number 1085518
Company number 4090701
Principal address and Holywell Community Centre
Registered Office Chaffinch Lane
Tolpits Lane
Watford
Hertfordshire
WD18 9QD
Auditor Gowers Limited
The Old School House
Bridge Road
Hunton Bridge
Kings Langley
Hertfordshire
WD4 8SZ

WATFORD AND THREE RIVERS TRUST LEGAL AND ADMINISTRATIVE INFORMATION Bankers Lloyds Bonk 32 & 32a Intu Shopping Centre High Street Warford Hertfordshire WD17 2UB CAF Bank 25 Kings Hlll Avenue West M811ing Kenl ME19 4JQ

Current financial year
Unrestricted Restricted Total Total
funds funds
2022 2022 2022 2021
Notes
Income from:
Donations and legacies 3 132,448 24,012 156,460 313,576
Charitable activities 5 2,575,211 708,560 3,283,771 2,044,501
Activities for generating funds 4 857 857 296
Investment income 6 17 17
Total income 2,708,533 732,572 3,441,105 2,358,373
Expenditure on:
Fundraising costs 7 20 - 20 20
Charitable activities 8 2,567,261 694,715 3,261,976 2,313,409
Total expenditure 2,567,281 694,715 3,261,996 2,313,429
Net incoming resources before transfers 141,25237,857 179,10944,944
Gross transfers between funds (1,813)1,813
Net income for the year/
Net incoming resources 139,439 39,670 179,109 44,944
Other recognised gains and losses
Actuarial gain on defined benefit pension schemes 11,568 11,568
Net movement in funds 151,007 39,670 190,677 44,944
Fund balances at1April 2021 235,075 119,801 354,876 309,932
Fund balances at 31 March 2022 386,082 159,471 545,553 354,876

Prior financial year
Unrestricted Restricted Total
funds funds
2021 2021 2021
Notes
Income from:
Donations and legacies 3 157,992 155,584 313,576
Charitable activities 5 1,877,295 167,206 2,044,501
Activities for generating funds 4 296 - 296
Total income 2,035,583 322,790 2,358,373
Expenditure on:
Fundraising costs 7 20 - 20
Charitable activities 8 2,057,203 256,206 2,313,409
Total expenditure 2,057,223 256,206 2,313,429
Net income for the year/
Net incoming resources (21,640) 66,584 44,944
Other recognised gains and losses
Net movement in funds (21,640) 66,584 44,944
Fund balances at1April 2020 256,715 53,217 309,932
Fund balances at 31March 2021 235,075 119,801 354,876

20222021 20222021
Notes
Current assets
Debtors11 316,010 192,579
Cash at bank and in hand 1 ,307,046 687,812
1 ,623,056 880,391
Creditors: amounts falling due within
one year12 (1 ,073,479) (504,641)
Net current assets 549,577 375, 750
Provisions for liabilities13 (4,024) (20, 874)
Net assets 545,553 354, 876
Income funds
Restricted funds16159,471119,801
Unrestricted funds
Designated funds18 8,606 8,606
General unrestricted funds 381,500 247,343
Pension reserve (4,024) (20,874)
386,082 235,075
545,553 354,876
The Balance Sheet continues on the next page

2022 2021
Notes
Cash flows from operating activities
Cash generated from operations 21 619,217 433,947
Investing activities
Interest received 17
Net cash generated from/(used in)
investing activities 17
Net cash used in financing activities
Net increase in cash and cash equivalents 619,234 433,947
Cash and cash equivalents at beginning of year 687,812 253,865
Cash and cash equivalents at end of year 1,307,046 687,812

Unrestricted Restricted Total Total
funds funds 2022 2021
Donations and other voluntary income 49,275 24,012 73,287 160,631
Grants receivable for core activities 83,173 - 83,173 152,945
132,448 24,012 156,460 313,576
For the year ended 31 March 2021 157,992 155,584 313,576
Donations and gifts
Camelot UK Lotteries 106,292
Watford Council 2,500 - 2,500 13,500
Berkeley Homes (North East London) - - - 2,000
The Childwick Trust 9,720 - 9,720 -
TKMaxx 6,480 - 6,480
Watford Community Housing Trust 6,480 - 6,480
Garfield Weston Foundation 10,000 - 10,000
Jaspar Foundation 3,600 - 3,600
Everyone Active - 6,450 6,450 -
Warner Bros - 2,000 2,000
Other 10,495 15,562 26,057 38,839
49,275 24,012 73,287 160,631
Grants receivable for core activities
Watford Council - CVS Grant79,173-79,17379,173
Watford Council - COVID-19 Grant - Holywell
Community Centre---44,843
Watford Council-COVID-19 Grant-Barn4,000-4,00014,429
Three Rivers District Council - COVID-19 Grant---5,000
CDA Herts - COVID Champions Grant---9,500
83,173-83,173152,945

4 Activities for generating funds
Unrestricted Unrestricted
funds funds
2022 2021
Membership subscriptions 857 296

Room hire and Fees and Lunch clubs Total Total
facilities contracts and transport 2022 2021
Income from charitable activities 80,980 445,239 88,864 615,083 445,466
Project grants 2,668,688 2,668,688 1,599,035
80,980 3,113,927 88,864 3,283,771 2,044,501
Analysis by fund
Unrestricted funds 79,470 2,409,290 86,451 2,575,211
Restricted funds 1,510 704,637 2,413 708,560
80,980 3,113,927 88,864 3,283,771
For the year ended 31 March 2021
Unrestricted funds 12,916 1,862,149 2,230 1,877,295
Restricted funds 167,206 167,206
12,916 2,029,355 2,230 2,044,501
Project grants
Watford Council 216,670 216,67086,680
Hertfordshire County Council 1,655,926 1,655,926 1,283,373
Big Lottery Fund 98,959 98,95996,456
Communities1st - Community Help
Hertfordshire 27,100 27,10042,917
Herts Valleys Clinical Commissioning
Group 17,800
Three Rivers District Council
Sustainability & Community
Development 20,718 20,718 56,000
Three Rivers District Council
Additional Restrictions & Health
Protection Board Grants 235,000 235,000
Watford Borough Council Additional
Restrictions & Health Protection
Board Grants 330,000 330,000
NHS England 5,367 5,36711,833
Other 78,948 78,9483,976
2,668,688 2,668,688 1,599,035

Investment income
Unrestricted Total
funds
2022 2021
Interest receivable 17
7 Fundraising costs
Unrestricted Unrestricted
fundsfunds
2022 2021
Fundraising costs
Other fundraising costs 20 20
20 20

2022 2021
Staff costs 1,017,695 880,832
Other staff costs 33,408 19,707
Project costs 1,676,841 1,084,241
Premises costs 47,663 40,734
Insurance costs 8,710 8,965
Repairs and maintenance costs 156,515 39,499
Office costs 30,727 35,371
Computer costs 178,340 82,272
Promotion and publicity costs 11,310 18,626
Travel and subsistence costs 54,555 44,475
General expenses 8,447 12,699
Legal and professional costs 33,661 41,229
Bank charges and other finance costs 1,704 2,359
Governance costs 2,400 2,400
,976
3,261
,313,409
2,
Analysis by fund
Unrestricted funds ,261
2,567
Restricted funds ,715
694
,976
3,261
For the year ended 31 March 2021
Unrestricted funds ,057,203
2,
Restricted funds 256,206
CM I 313,409

Number of employees
The average monthly number of employees during the year was:
2022 2021
Number Number
Charitable and administrative 44 45
Employment costs 2022 2021
Wages and salaries 918,836 793,496
Termination payments - 5,350
Social security costs 73,376 63,787
Other pension costs 25,483 23,549
1,017,695 886,182
There were no employees whose annual remuneration was 60,000 or more.
11 Debtors
2022 2021
Amounts falling due within one year:
Trade debtors 314,765 170,098
Other debtors 115 115
Prepayments and accrued income 1,130 22,366
316,010 192,579
12 Creditors: amounts falling due within one year
2022 2021
Notes
Deferred income 14 860,168 281,848
Trade creditors 196,801 155,268
Other creditors 10,110 5,295
Accruals 6,400 62,230
1,073,479 504,641

13 Provisions for liabilities 2022 2021
Notes
Retirement benefit obligations 15 4,024 20,874
4,024 20,874
14 Deferred income
2022 2021
Other deferred income 860,168 281,848
Deferred income is included in the financial statements as follows:
2022 2021
Deferred income is included within:
Current liabilities 860,168 281,848
Movements in the year:
Deferred income at 1 April 2021 281,848
Released from previous periods (281,848) -
Resources deferred in the year 860,168 281,848
Deferred income at 31 March 2022 860,168 281,848

31 March 2022 31 March 2021 31 March 2020
(s) (s) (s)
Present value of provision 4,024 20,874 24,733
Reconciliation of opening and closing provisions Period Ended 31 Period Ended 31
March 2022 March 2021
(s) (s)
Provision at start of period 20,874 24,733
Unwinding of the discount factor (interest expense) 120 556
Deficit contribution paid (5,282) (5,129)
Remeasurements - impact of any change in assumptions (92) 714
Remeasurements - amendments to the contribution schedule (11,596) -
Provision at end of period 4,024 20,874

15 Retirement benefit schemes (Continued)
Income and Expenditure Impact Period Ended 31 Period Ended 31
March 2021 March 2020
(s) (s)
Interest expense 120 556
Remeasurements - impact of any change in assumptions (92) 714
Remeasurements - amendments to the contribution schedule (11,596)
Contributions paid in respect of future service
Costs recognised in income and expenditure account
Assumptions 31 March 2022 31 March 2021 31 March 2020
% per annum % per annum % per annum
Rate of discount 2.35 0.66 2.53
The discount rates shown above are the equivalent single discount rates which, when used to discount the
future recovery plan contributions due, would give the same results as using a full AA corporate bond yield
curve to discount the same recovery plan contributions.
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17 Analysis of net assets between funds
funds
Unrestricted
funds
Restricted
Total funds
Unrestricted
funds
Restricted
i orai
2022 2022 2022 2021 2021 2021
Fund balances at 31
March 2022 are
represented by:
Current assets/
(liabilities) 390,106 159,471 549,577 255,949 119,801 375,750
Provisionsand
pensions (4,024) - (4,024) (20,874) - (20,874)
386,082 159,471 545,553 235,075 119,801 354,876

Movement
in funds
Balance at Resources Balance at Incoming Balance at
1 April 2020 expended 1 April 2021 resources 31 March 2022
Premises Maintenance Fund 4,646 4,646 4,646
Development Fund 15,640 (11,680) 3,960 - 3,960
20,286 (11,680) 8,606 - 8,606