2025-03-31-accounts - The Welwyn Hatfield Foyer Charitable Trust

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The Welwyn Hatfield Foyer Charitable Trust

Report and Financial Statements For the year ended 31 March 2025

Registered Charity Number 1086217

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

	INDEX
		Page number
Trustees' Annual Report		1 - 3
Report of the Independent Examiner		4
Statement of Financial Activities		5
Balance Sheet		6
Notes to the Financial Statements		7 - 11

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES' ANNUAL REPORT

The Trustees present their annual report and the financial statements for the year ended 31 March 2025.

Reference and administrative information:

Name of the Charity and principal address

The Welwyn Hatfield Foyer Charitable Trust is a registered charity no. 1086217. The principal address of the Charity is:

1 Glory Park Avenue, Wooburn Green, Buckinghamshire, HP10 0DF.

Trustees

Susan Jones Mark Richardson (Chair)

Independent examiner, solicitors and bankers

Independent examiner: Heather Wheelhouse, BDO LLP, 55 Baker Street, London, W1U 7EU Solicitors: Trowers and Hamlins, 3 Bunhill Row, London, EC1Y 8YZ

Structure, governance and management:

Constitution

The Charity is a Charitable Trust incorporated on 19 March 2001. The charity is registered with the Charity Commission under registration no. 1086217.

Organisation

The body of Trustees, which administers the Charity shall consist of three persons, including one Trustee nominated by Paradigm Homes Charitable Housing Association Limited (“PHCHA”) and one nominated by Welwyn Hatfield District Council. As of September 2022 one of the Trustees resigned, leaving only two Trustees. The remaining Trustees are actively trying to recruit a third Trustee in accordance with its governing document.

Recruitment and appointment of Trustees

Trustees are appointed for a term of four years and any appointments are approved by the Board in accordance with its governing document, following nominations, where required, from PHCHA and Welwyn Hatfield District Council.

Public benefit

The Trustees have considered the Charity Commission's general guidance on public benefit and consider that the Trust provides a public benefit. The application of funds is limited only by need, age and geographic location. Details of the charity's objectives and activities are set out below.

Third party indemnity provision for trustees

Qualifying third party indemnity provision was in place for the benefit of all trustees of the Charity.

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES' ANNUAL REPORT (CONTINUED)

Objectives and activities:

The Charity’s objects are:

To relieve poverty by the provision of accommodation and any associated amenities for single homeless persons in necessitous circumstances between the ages of 16 and 25 years in the administrative area of Welwyn Hatfield and to further help those so accommodated who are in need of advice, counselling and other forms of aid to find employment, training education and other benefit to prepare them for a settled way of life in the community.
To encourage, foster, assist and promote such of the activities of the Welwyn Hatfield Foyer as are charitable and those of any similar organisations established for charitable purposes as shall be approved by the Trustees from time to time.

These objects are achieved through the provision of grants mainly, though not exclusively, to the Welwyn Hatfield Foyer which is run by PHCHA. The Welwyn Hatfield Foyer is located on the ground to sixth floor of Goldings House, Goldings Crescent, Hatfield, Hertfordshire. This accommodation is used for the provision at an affordable rent, of high quality residential accommodation for young people aged between 16 and 25, in or seeking low paid employment. A wide range of support services for job seeking, training and personal development are provided.

Financial review

In the year under review the Charity has continued to focus its activities on the provision of grants to the support of the Welwyn Hatfield Foyer.

Income for the year totalled £63,336 (2024: £62,750). Grants made during the year totalled £45,900 (2024: £45,900) and at the end of the year its total funds were £1,031,400 (2024: £1,025,886).

Achievements

The main achievement of the trust has been to assist in providing financial support for tenants at The Foyer. This has included working closely with staff to achieve Foyer Federation Accreditation which has given tenants and staff access to a large support network across the country, pooling experience, learning programmes and knowledge for best practices in a Foyer environment. Learning and development opportunities have also been given to residents supported by the funding received from the Trust, these have included employment in the automotive industry and some moving into higher education and their first university student.

Plans for future periods

In 2025-26 the Charity will continue to provide support to The Foyer and to young people in the local area. The Trustees are reviewing future plans to utilise restricted funds for training and employment and aim to reduce unrestricted reserves to £100,000 over the next five years.

Reserves policy

The Trustees have reviewed the Charity's reserves and decided that to support its long-term commitment to the Welwyn Hatfield Foyer and develop other activities, the Charity should aim to keep its unrestricted reserves above £700,000 in the coming year. This will ensure it can meet its objectives. The Trustees will continue to monitor expenditure closely to ensure the reserves are maintained at an adequate level to continue to meet their objectives.

The undertaking holds total reserves of £1,031,400 (2024: £1,025,886), made up of restricted funds of £292,876 (2024: £278,930) and £738,524 (2024: £746,956) of unrestricted funds, which is deemed sufficient for the year ahead.

Investment policy

Under the Charitable Trust, the Charity has the power to make any investment which the Trustees see fit. The Trustees have considered the need to maximise the return on their investments and minimise risk, as well as the need to have funds available at short notice for charitable purposes.

As the Trustees work closely with PHCHA and rely on PHCHA for management of the Trust, they have loaned PHCHA surplus funds to invest on behalf of the Trust with financially secure organisations on short term loans at variable interest rates to obtain a better rate than if the Trust invested the funds themselves.

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES' ANNUAL REPORT (CONTINUED)

There were no gains or losses on investments during the year. Investment income during the year was £51,414 (2024: £51,285).

Risk management

The Trustees have assessed the principal risks and uncertainties to which the Charity is exposed, in particular those relating to the operations and finances of the Charity and confirm that they have established systems to mitigate the significant risks the Charity faces.

Going concern

The trustees have reviewed the circumstances of the charity and consider that it is a going concern and that they believe that sufficient resources are available to fund the activities for the foreseeable future. There are no material uncertainties about the Charity’s ability to continue as a going concern, please refer to note 1 of the accounting policies.

Trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the Trustees must not approve the financial statements unless they are satisfied that they 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 charity for that period. the law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each 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, of the charity for that period.

In preparing the financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees and signed on their behalf on 29 April 2026.

Mark Richardson Trustee

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WELWYN HATFIELD FOYER CHARITABLE TRUST

I report to the trustees on my examination of the accounts of The Welwyn Hatfield Foyer Charitable Trust (‘the charity’) for the year ended 31 March 2025, which are set out on pages 5 to 11.

This report is made solely to the charity's trustees, as a body, in accordance with Regulation 31 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity's trustees as a body, for my work, for this report, or for the statement I have made.

Responsibilities and basis for report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

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

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts 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 accounts to be reached.

Signed:

Name: Heather Wheelhouse ACA BDO LLP 55 Baker Street London W1U 7EU

Date: 29 April 2026 29 April 202630 April 2026

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

STATEMENT OF FINANCIAL ACTIVITIES

Notes Income from: Investments 2 Donations 3 Total Expenditure on: Charitable activities 4 Total Net (expenditure)/income Total funds brought forward Total funds carried forward 10	2025 2024 Unrestricted income funds Restricted income funds Total charity funds Total charity funds £ £ £ £ 37,468 13,946 51,414 51,285 11,922 - 11,922 11,465 49,390 13,946 63,336 62,750 57,822 - 57,822 57,365
	57,822 - 57,822 57,365
	(8,432) 13,946 5,514 5,385 746,956 278,930 1,025,886 1,020,501 738,524 292,876 1,031,400 1,025,886

The notes on pages 7 to 11 form part of these financial statements.

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

BALANCE SHEET

Notes Current assets Debtors 7 Creditors Amounts falling due within one year 8 Net current assets Total net assets The funds of the charity Restricted income funds 9 Unrestricted income funds Total charity funds 10	2025 £ 1,036,440 (5,040) 1,031,400 1,031,400 292,876 738,524 1,031,400	2024 £ 1,030,686 (4,800)
		1,025,886
		1,025,886
		278,930 746,956
		1,025,886

These financial statements were approved by the Trustees on 29 April 2026.

Signed on behalf of the Trustees

Mark Richardson Trustee

The notes on pages 7 to11 form of these financial statements.

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

GENERAL INFORMATION

The Welwyn Hatfield Foyer Charitable Trust ("the Charity") is a registered charity regulated by the Charity Commission, registered number 1086217. The address of the Charity’s registered office is 1 Glory Park Avenue, Wooburn Green, Bucks, HP10 0DF.

BASIS OF ACCOUNTING

The financial statements have been prepared in accordance with 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 - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act (2011).

The financial statements have been 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 are prepared under the historical cost convention and in accordance with the Charities Act 2011 and applicable accounting standards. In preparing the financial statements the Charity follows the recommendations of the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP) including FRS 102 issued in January 2019. The financial statements have been prepared to give a “true and fair” view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a “true and fair view”. This departure has involved following 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) (second edition) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Welwyn Hatfield Foyer Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Going concern

After reviewing the charity's forecasts and projections, the Trustees have reasonable expectation that the undertaking will continue in operational existence for the foreseeable future, being a period of at least twelve months after the date on which the report and financial statements are signed. As part of the review, the trustees have evaluated the ability of PHCHA to continue to pay the interest and maintain the fund balances invested on behalf of the charity. The charity therefore continues to adopt the going concern basis in the financial statements. There are no material uncertainties about the charity’s ability to continue as a going concern.

Income

Income is recognised in the period to which it relates.

Investment income is treated as unrestricted unless the income has been derived from the investment of restricted income funds.

Donations are recognised in the statement of financial activities when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be met.

Donated Goods and Services

Donations in kind are for services, insurances and other costs provided pro-bono by Paradigm Homes Charitable Housing Association (“PHCHA”) that the Charity would otherwise have to purchase on the open market are estimated at their open market value to the Charity.

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES (CONTINUED)

Expenditure

Expenditure is recognised in the period to which it relates.

Charitable expenditure comprises expenditure directly related to the objects of the Charity. Included within this amount is an estimate of the services provided pro-bono by PHCHA as noted above. There were no costs of raising funds.

Fund accounting

The Charity holds both unrestricted and restricted income funds. Unrestricted income funds are available for use in furthering the general objectives of the Charity at the discretion of the Trustees. Restricted income funds are funds which can only be used for particular restricted purposes within the objects of the Charity.

Significant judgements and estimates

The preparation of financial statements in compliance with FRS 102 requires management to exercise judgement in applying the Charity's accounting policies. Estimates and judgments are continually evaluated by the Trustees based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any key areas of judgement in these financial statements.

2. INVESTMENT INCOME

Interest receivable from PHCHA

Interest receivable from PHCHA

3.
DONATIONS

Donation in kind from PHCHA

Donation in kind from PHCHA

2025
2025
2025
Unrestricted
Restricted
Total
£
£
£
37,468
13,946
51,414
2024
2024
2024
Unrestricted
Restricted
Total
£
£
£
37,990
13,295
51,285
2025
2025
2025
Unrestricted
Restricted
Total
£
£
£
11,922
-
11,922
2024
2024
2024
Unrestricted
Restricted
Total
£
£
£
11,465
-
11,465

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS

4. EXPENDITURE ON CHARITABLE ACTIVITIES

4. EXPENDITURE ON CHARITABLE ACTIVITIES
	2025	2025	2025
	Unrestricted	Restricted	Total
Costs directly attributable to charitable activities:	£	£	£
Donations to PHCHA:
Welwyn Hatfield Foyer	45,900	-	45,900
Support & Governance costs (see note 6)	11,922	-	11,922
Total Expenditure	57,822	-	57,822
	2024	2024	2024
	Unrestricted	Restricted	Total
Costs directly attributable to charitable activities:	£	£	£
Donations to PHCHA:
Welwyn Hatfield Foyer	45,900	-	45,900
Support & Governance costs (see note 6)	11,465	-	11,465
Total	57,365	-	57,365

5. STAFF COSTS AND TRUSTEES' REMUNERATION

No staff were employed during the current or prior year. None of the Trustees received remuneration during the current or prior year. No expenses were reimbursed to Trustees during the current or prior year.

6. SUPPORT COSTS

6. SUPPORT COSTS
Governance costs: Independent Examiner fee Insurance Accountancy & admin fee (donated service) Total support costs 7. DEBTORS Amounts owed by PHCHA Amounts owed by Related Parties	2025 £ 5,040 2,292 4,590 11,922 2025 £ 1,031,400 5,040 1,036,440	2024 £ 4,800 2,075 4,590
		11,465
		2024 £ 1,025,886 4,800
		1,030,686

The above balance represents funds invested, via Paradigm Homes Charitable Housing Association ("PCHCA"), in the short term with various financial institutions at variable interest rates. Average interest of

5.0% (2024: 5.0%) was charged on the amounts included within amounts owed by PHCHA during the year. This amount is repayable on demand.

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS

8. CREDITORS

8. CREDITORS
Accruals 9. RESTRICTED INCOME FUNDS Training and employment fund: Opening balance Income Expenditure Closing balance	2025 £ 5,040	2024 £ 4,800
	2025 £ 278,930 13,946 - 292,876	2024 £ 265,635 13,295 -
		278,930

These are funds which can only be used for particular restricted purposes within the objects of the Charity.

The restriction was specified by the donor when the funds were given.

The training and employment fund is to be used for the following restricted purposes:

To provide small grants to local employers to help them offer modern apprenticeships in areas of skill shortages to young people in the Welwyn Hatfield area.
To provide general support for local employment and training schemes for young people in the Welwyn Hatfield area, linked to the Welwyn Hatfield Foyer project.
To provide community initiatives in the Welwyn Hatfield area which support activities such as anti-poverty, community development, equality, economic regeneration and improving the environment.

10. FUNDS

2025

Unrestricted funds Restricted funds Total Funds Unrestricted funds Restricted funds Total Funds	Opening balance 1 April 2024 Income Expenditure £ £ 746,956 49,390 (57,822) 278,930 13,946 - 1,025,886 63,336 (57,822) 2024 Opening balance 1 April 2023 Income Expenditure £ £ 754,866 49,455 (57,365) 265,635 13,295 - 1,020,501 62,750 (57,365)	Closing balance 31 March 2025 £ 738,524 292,876
		1,031,400
		Closing balance 31 March 2024 £ 746,956 278,930
		1,025,886

WELWYN HATFIELD FOYER CHARITABLE TRUST REGISTERED CHARITY NUMBER 1086217 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

		2025
	Unrestricted	Restricted	Total
	£	£	£
Net current assets	738,524	292,876	1,031,400
		2024
	Unrestricted	Restricted	Total
	£	£	£
Net current assets	746,956	278,930	1,025,886

12. RELATED PARTY TRANSACTIONS

The Charity and Paradigm Homes Charitable Housing Association (PHCHA) is a related party due to Mark Richardson being a Trustee and also a member of key management personnel of PHCHA. PHCHA is a subsidiary of Paradigm Housing Group Limited (PHGL).

Any surplus funds held by the Charity are invested, via PHCHA, in short-term investments with income generated from the investments returned to the Charity by PHCHA. Interest received in the year was £51,414 (2024: £51,285).

PHCHA nominates one of the trustees of the Charity.

Transactions between the entities during the year were as follows:

The Charity provides support to the Welwyn Hatfield Foyer through the provision of grants to PHCHA. In the year the grants totalled £45,900 (2024: £45,900).
PHGL has paid for Trustee Indemnity insurance on behalf of The Welwyn Hatfield Foyer Charitable Trust. The approximate annual value of this is £2,292 (2024: £2,075).
The independent examination fee for the charity is paid on an annual basis by PHGL. This is recognised as a donation in the year. At the year end the amount of £5,040 in respect of the independent examination fee is recognised as a debtor (2024: £4,800).
PHGL has provided, free of charge, accountancy and administrative services, to The Welwyn Hatfield Foyer Charitable Trust. The approximate value of this is £4,590 (2024: £4,590) and it has been recognised as a donation in kind and reciprocal expense.

Details of debtor balances can be seen in note 7.