Company registration number-. 05278018 Charity registration number.. 1107171 Wokingham United Charities (A company limited by guarantee) Annual Report and Financial Statrments for the Year ETJded 31 March 2025 Vale & West Accountancy SeTr ices Limited Chartered Accountants Victoria Hoe 26 Queen Victoria Street Reading Berkshire RGI ITG
Wokingham United Charities Contents (continued) Reference and Administrative Details I to2 Trustees, Report 3tolO Independent Auditors, Report Statcmcnt of Financial Activitics 15to 16 Ralance Sheet Statement of Cash Flows 18 Notes to the Financial Statements 19to37
Wokingham United Charities Reference and Administrative Details Chair J F. Hartley Trustees J E Hartley D C Auger D Morrison R Margetts K A M Hadfield G M Hobbs J F Rogers AEKing K A McGill H A Cannon S R Curtis J Pallas Charity Manager A Garstang Charity Registration Number 1107171 Cotnpany Registration Number 05278018 (England and Wales) Registered Office 22-24 Broad Street Wokingham Berkshire RG40 IBA Correspondence Address Westende London Road Wokingham Berkshire RG40 1 YA Auditor Valc & Wcst Accoulltancy Scrviccs Limitcd Chartered Accountants Victoria Housc 26 Queen Victoria Street Reading Berkshire RGI ITG Solicitors Clifton Ingram LLP 22 - 24 Broad Sireet Wokingham Berkshire RG40 IBA Bankers Barclays Bank UK PLC Leicestei LE87 2BB Page
Wokingham United Charities Reference and Administrative Details (continued) Investment Fund Managers Bre.In Dolphin PIC 12 Smithtield Street London ECIA 9BD CCLA Investment Management Limited Senator House 85 Queen Vicioria Sireel London EC4V 4ET Page 2
Wokingham United Charities Trustees, Report The irustees, 'hO are direciors for the purposes of company law. preseni the annual report iogether with the t-llMn¢ial stateInents and auditors, report of the charitable company for the year ended 31 March 2025. Objectives and aelivities Objects and aims Our charity was established to address the pressing needs of individuals facing poverty, hardship, or distress thin thc Borough of Wokingham. Our mission is to providc support and rclicf to thosc in nccd, cnsuring a belter qualiry of life for our community members. Thc primary aim of thc charity is thc rclicf of tKyvcrty, hardship, or distrcss among rcsidcnts of thc Borough of Wokingham. We achieve this through the aclivilies of our Iwo main funds: Almshouse Fund The Almshouse Fund is dedicated to rnanaging. maintaining, and improving the charil)Ps Almshouses al "Westende." The income from ihis fund is used to et]haDce the residents, use and cnjoyn]ent of the pruperty. Relief in Need Fund The Relief in Need Fund provides grants to help individuals, families. and local charities address issues such as isolation, lonclincss, homclcssncss prcvcntion, and povcrty rcduction. Summary ofActivities Throughout the year, our charity trusttts have WOTked tirelessly to ensure that our objectives are met and to advance our mission of alleviating poverty and hardship within the Borough of Wokingham. By managing the AInhOUSe5 and providing grants through thc Relief in Need Fund, we have made a significant impact on the lives of many residents. Our efforts hai.'e helped io alleviate poverty. provide safe and supportii'e housing. and address critical issues such as isolation and loneliness. We have seen firsthand the positive impact of our work, fostering a scnsc of cotnmunity and hope among thc residcnts we scrvc. Wc arc Proud of thc Progress made and remain dedicated to continuing this vital work in the years to come. Achievements and performanee Alm.%hou.ses Throughout 2024 and inio early 2025. we achieved several significant milestones and hosted numerous events. In April, we ¢ompleted the revised Resident's Handknok and reiTiewed and updated the application process for ncw rcsidenls. In Octobcr. we wclcuTned Cliyc Joncs MP for Wokinghan] lo discu55 the in]portanLe uf almshouses and iheir potential role in addressing future social housing needs. Trustees conducted flat inspections, whiLh received overall positive feedback wilh only minor remedial works required. This also provided a valuable opportunity for trustees to meet the residents. Relief iii Need Organisation Grants Relief .Ve¢d More than £35.000 was awarded to seven OTganisations through OUT Relief in Need Grant Fund. These granis supported charities with various needs, ranging from start-up costs and core expenses to specific assistance for vulnerable groups like Care Leavers. Page 3
Wokingham United Charities Trustees, Report (continued) Chariti. Chapnpions In line with the Charity Awards criteria and recommendations and after reviewing our previous grant awards, we introduced the c.harity Champions Grant Award. This iT]itiatiN'e invited organisatsons to apply for rnulti-year funding, reducing the administratii'e burden of repeated applications and reviews. Additionally, it proiTides charities with greater stability and sustainability through reliable, IoDg-tertn fuDdiDg. We are pleased to announce that three charities were Successful in securing thi5 multi-year funding= Citizens Advice WokIngha The Cowshed. and Homesian Wokingham. Importantly, this funding is unreslricled, with tlexible parameters, allom'ing the charities the autonomy to allocate the funds as they see fit. These chariries have consistently demonstrated significant impact and thorough monitoring in the past. We trust these organisations to utilise tbe funding effectively. allowing them to continue their valuable work with the assurance of ongoing financial support. School Giarti Awllrds As a rcsult of ihc Increing demands on school budgcts and the financial pressuTes faced by local families, we have seen a significant rise in requests for financial support to enable students to participate in school residential trips. Thcse trips arc highly valucd childhood cxpcricnces. esscntial not only for ct]hanciDg aLadctnic studies but also for broadening ihe experiences and opportunities ai-ailable to local children. Recogmising the imponance of these enriching aclivities, Ihe gtanis committee allocated resources to ensure more students could benefit. Over £14,500 M?s awarded 10 13 local schools to enable students to attend their residential trips. Additionally, we received supplementary funding from Wokingham Borough Council to support the Bright Futures grant fund. This allowed us to compleinent the school trip fund by noi only awarding standalone grants but also Tnatch-funding school trip grants. undei the Bright FutUTes program, thcTeby ensuring widespread qupport. Bright Fulure5 Fund We were fortunate to receive £25,000 (£2,500 was restricted for administration 5UPPOrt) in funding from Wokn'ngharn Borough Council's Tackling Povcrty Stratcgy. This funding supports childrcn and young pcoplc from low-income households in engang in exlracurricular ac1111]es. including school trips, thereby expanding the variety of actiTrities thal can be supported. The Bright Futures Grant Programme, widely promoted throughout the Borough in collaboration ivith panners. schools, and various organisaiions, aivards grants for a diverse range of activities such as study abroad trips, learn-to-swim programs, mcntal health workshops, football tours. holiday club aciiviiies. choir. dance lessons. Duke of Edinburgh participaiion. youth clubs. school residential trips, i¢e skating l¢ssons, and football clubs. Through 29 different projects. these initiatives benefitted 96 young people, pToTr'iding cnriching cxpcrienccs and Op)rtunIties. Essential Item Grunts 2024/2025 This financial year, we proi'ided £86,229 in essential item grants. benefiting 143 individuals and families in need. Committed to supportino community members facing financial challenges, these grants offer immediate assistance for crucial ilcms such as whitc goods. bcds. mattrcsscs. and. in cxccptional circuinstaDCCS, flooring amongst other more specific iiems for unique and specific needs. We continue to strive to demonsirale flexibility and responsiveness of our grant progrdmme in addressing diverse needs thin our eoinmunity and so reduce financial strain, improve quality of life, and promote dignity and stability for those facing challenging circumstances. By working in collal)oraiion with other organisations who provided essential item grants. we have broadened the opportunity for clicnts to rccciTr'c support i'la onc application pathway. Working closcly with thcsc organisations, enables professional referrers and clients to submit one application but potentially receive multiplc avcnucs of support dcpcnding on thcir location an(Vor othcr cligibility critcria. Partnciship organisations contribuied over £6,500 iowards seven grant awards. Page 4
Wokingham United Charities Trustees, Report (continued) Chrisimas Cheerl 20 ?4 For the fourth consecutive year: the Board suptK)rted the Christmas Cheer! 2024 grant programme. This initiatii'e provided funding to local charities to 'spread a little Christmas cheer, is dedicated to assisting residents during the holiday season by distribuiing food hampers and gifts. In totsl, six grants M'ere awarded, amounting to £10:651, lo ensure a brighter Christtnas for those ID need. Hot4.*ehold Si4ppnri Fiind (HSF) Thc Household Support Fund, a govcrnmcnt initiativc lauDcbed in 2021, providc5 funding to local authorities nationwide to assist people Thiih their fuel and food bills. Our charity collaborated with Wokingham Borough Council and thrcc othci local Lhalltics-A¥c UK Bcrkshirc. Citizclls Advicc WokinghaTn. and First Days Children's Charity-to facilitate this support and offer addiiional assistance as needed. The Household Suppoll Fund was extended again. starting in April 2024. It is divided into two components ro address specitic community needs. The first componeni. Holiday Food Vouchers, is awarded to tamilies whose childrcn qualify for mcdns-testcd frce school Tnca15, cnsuring thcy have acccss to nutritiou5 food during school holidays. The second component provides a one-time award to individuals or families facing financial hardship who do nul qualify for mcans-tcstcd frec schuul mcals but still rcquirc support. This dual appToaLh enables us to effectii'ely iarget and assist those most in need. Since April 2024. we have disiribuied 2.650 Household Support Fund gyanis, including £118.030 in vouchers, lo families and individuals. These grants proN'ided crucial financial support for food and energy costs. This effort included processing 317 new applicalions. Fundraising disclosures The charity had no fundraising activities that require disclosure under Sl 62A of the Charities Act. Public benefit In lollowing the charity's aims and objeclive& Ihe Iruslees have had regard to the Charity Conllnission's published guidance in complying with their duty in section 17(5) of the Charities Act 2011 on Public Benefit. The provision of the Almshouse accommodation for those in need provides an identifjable public benefit which is directly in line with the charity's aims. Beneficiaties of the Almshouses must be in need. The trustees Conf that they bave refeed to the guidance contained in the Cliarity Comtni5sion's general guidance on public benefit when seiiing the Reliel in Need grani-making policy for the year. Grant makingpolicies Grants aimed ai alleviating nee& hardship. or distress for indil'iduals are primarily administered through our essential itern grant programme. Professional RefeerS complete an application form on behalf of the applicants. The charity does not fund items that fall under Ihe responsibility of ihe state or local authorities. The charity has continued to awaTd grants to oiganisations. emphasising a "hand up" Tather than a "hand out" approach. This ethos has allowed the charity to diversify ILS granLs, providing meaningful support and creating opportunities. In response to the evolving needs of the local voluDtary sector. the grant-making policy was amended to inclLLde mulii-year funding awards. Page 5
Wokingham United Charities Trustees, Report (continued) Financial review Thc unicstrieted income of the charity during the year totalled £533.354 (2024= £500,295) composed of £19n,559 (2024.. £186.191) Irom Ihe Almshouse. £17,fi50 (2024.. £nil} from Relief in Need, and £325,145 (2024.- £314,104) income from investiiients. £207,699 (2024.. £215,718) was spent OD the upkeep and running costs of the Almshouses, of which £66.987 (2024: £66,980) was charged to ihe designated repair funds. £1,029.755 (2024.. £1,239,336) was spent on orants and a further £5.500 {2024.. £5.241) on professional fees. Support costs totallcd £40,380 {2024: £44.098) and iDVCStmcnt tt]anagcrs' fccs totallcd £44.681 (2024.. £41.571}. The total deficit for the year ended 31 March 2025. afteT net losses on investment of £63,356 (2024.. losses of £789,341) was £186.267 (2024- net deficit of £803.316). Policy on re.serves Alrnshouse Fund - The charity has a substantial onooing responsibility for housing 35 residenLS at Weslende. Tt is considercd that, to meet thcse substantial outgoings. the targct gcncral reseThTCS at l April each year should be equivaleni 10 12 months OfoSS expendiiure Irom Almshouse general lunds in the forihcoming year. The charity has total Almshouse rese.eS of £917.662 including £170.930 of functional assets and £376.355 for restricted purposes: leaving £370.377 of free reserves. Of this. £300.735 has been set aside for desigllaled purposes, with the remaining £69,642 available foi general use. This is in line the trustees, reserves policy. Relief in Need Fund - The tn15tees have a continuing reserve for the Relief in Need fund of a minimuTn of £150,000 for grants and £100,000 for salaries and annual running costs. The fomier is to ensure that there are sufficient reserves aN'ailable to coi'er six months of expected grant making an(Vor sufficient funds available should the trustees wish to fund a large projecl urgently. The charity has total Relief in Need reserves of £l1.839.018 with £l1.126.3LIO held for restricted purposes, leaving £712,677 of free reserves available for general use. Based on the trustees. current reserves policy, thi would Icavc £462,677 availablc as cxccss funds and thc trustccs arc n]aking plans to incrcasc its grant inaking activity this coming year. As the trusiees hai'e increased the charity"s area of benefii and recognised the impacts of Covid I g. they are increasingly being proactive when exploring innovative ways to increase the impact that the charity can make. Inve.ftmentpolicy and objectives A new investment policy was adopted by the tnte¢S in April 2025 after taking advice from our professional invcstment adviseTS, including YOKE who coT]ducled an indcpendcnt rcviell. for us in 2024. OUT IneStment policy is designed to produce an income to enable the chariiy lo operate effectively whilst ensuring thal over a ten-year period the capital value of our endownent exceeds inflation (CPI)- Page 6
Wokingham United Charities Trustees, Report (continued) Risk Nqanagemenl Thc trustecs hai'e identified and assessed the major strategic. business. and operational risks facing the charity. Both extemal and internal risks are continuously revie'ed, with a risk register updated annually. Key risks and preventative measures include.. Undei. per]Oi*Rance ofInve.vtmeni mai.kei.s Èo meei Ihe irn.¥iee.s' inconie reqtsirenienLY Our invcstmcnls arc managcd profcssionally. with quartcrly rcports scruliniscd by thc Financc Committcc and summaries provided to all trustees. Large and UPFforeseen e.rpenditiire on the Wesiende properti" Profcssional advice is sought for risks associated with the Almshouses, and safety measures are regularly monitored. Harni lo a benL.fic'iary diie lo a safÉ'guarding inc'id£'nl Staff closely monitor safeguardino risks at Westende and through care1 due diligence of grdnt applications to mitigalc tbis iisk. Concctlls Icportcd to ttuslccs. Loss ofL-e¥' staff/ tnislees Staff wellbeing is prioritised and cross-training is in place to reduce reliance on key individual staff members. We are building a pipeline of new trustees to ensure continuity and measures are in place to document key policies and operational inforniation. Trustees and officers The trustees and officers serving during the year and since the year end were as follows= Trustees: J E Hartley D C Auger D Morrison R Margett5 K A M Hadfield G M Hobbs J F Rogcrs AEKing R Tweed (appointed 17 September 2024 and resigned 13 May 2025) G Veitch (resigned 31 March 2025) J C Holloway (resigned I l June 2024) K A McGill (appointed 20 May 20251 H A Cannon (appointed 20 May 2025) S R Curtis (appointed 20 May 20251 J Pallas (appointcd 20 May 2025) Chair- J E Hartley (elected chair 20 May 2025} Charity manager.. A Garstang Page 7
Wokingham United Charities Trustees, Report (continued) Siructure* governance and managemenl Governing Documenl Our charity is govemed by a deed of trnst, which serves as our governing document. This document outlines the charitys putyose, structure, and operational idelIneS. As a liinited conwanv, limiled by guarantee, our structure is also goerned by the Companies Act 2006. The trustres, who are also the directors of the charitable company. guarantee to contribute an amount not exceedino £1 to the assets of the charitable company in the cvcnt of winding up. Recruitmen¢ artd appoin¢mertt oftr4slees This year, ptiotitised enhancing our boaid's diversity and expertise through a structured recruitment process. InN'aliiable collaboration '1th InTnL8ied at Ini-olve Community SeThices. helped us identify seNeral high-calibre candidates based on their eligibility, COD]petence, aDd specialist Skills. The charity's aim was to achieve a balanced mix of experience, diversity, and background. We were fortunate to otTer Commitlee positions to four candidaies. all of whom accepted and have brought fresh perspectives lo the team. These new committee members attend meetings as Volunteer Members and join various committees lo explore ai'ailable roles. learn about the charity. and Lfftdetsiand our journey and future direction. This process allows both the charity and the comtnittee meinbers to assess suitability before full board admission as trustees. The induction proces5 includes COTnprehen5ive briefings with the chair of trustees. charity Tnanager and committee chairs. While we benefited from InTrusted's support, Ihe recruitment and appointment of trustees remain internally managed to ensure alignment with our strategic needs. Oryani5ational struclure The charity is administered by the Board of trustees. (Ivho are appointed for a four-year term and may be re-appointed il willing lo See} meeting six limes a year lor general meeiings and once for an amiual general meeting, with additional ad hoc meetings as needed. Decisions are made during these meetings, which require a quorum of five trustees. Staff maintain the minule book. The trustees bring a wealth of experience from various fields, including accountancy, law, healihLare, business, and properry management. None of the trustees has any benefi¢ial interest in the company. Sub-CommitteeStructHre Following the successful inlroduciion of the Governance & Strafrgy Committee last year, we established a Staffing Committee this year. This committee has been instrumental in adi-.ancing various governance tasks and has provided valuable support in strategic planning. Wilh the upcoming vieW of the charity's strategy schcdulcd for 202512026, wc proposc to makc thc G&S Committcc a pcrmancnt fixturc. Thc committcc has proi'en lo be a positive force. facililaiing ihe progression of thsks and serving as a conduii for the Board io address matters outside of the tmain Board Ineetings. The five sub4ommittees. ]Ch meet regularly, are= We.s¢ende - Manages the ongoing administration and maintenance of the Almshouses. Grants- Rcvicws and approvcs grants to individuals and othcr charitablc organizations. Financ'e Maintains accurale accounting, prepares ihe annual budgei, and reviews ihe perforniance of the Investment Manager. Siaffing- Oversees personnel management. Goveriiuiice & Siidiegv - Actions and pro(Fresses governance. strategic planning, and the implementation of initidtives to cnsurc ihc Lhatity's ubJcLtivcs arc mct effcLtivcly and 5UStaindbly. Page 8
Wokingham United Charities Trustees, Report (continued) Adminislration and staffing The staff team remained stable with four members. the Household Support Fund (HSF) continued, the HSF adniinistrator prioritised n]anaging this initiative. Alongside the focus on the HSF. time and effort were also dedicated to enhancing the charitys marketing and social media presence. These efforts aimed to strengthen our brand and increase community engagement, ensuring we reach a wider audience. S¢rategvforgovernanee Over thc past ycar, OUT charity has focuscd on strcngthcning OUT governance frameworL eDsuring robusl oversight and accountability in all our operations_ This straiegic move has enhanced our leadership capabilities and pos11ioncd u5 to addrc55 futurc challcn¥cs. Additionally. wc havc bccn cvaluating our futurc prioritics, aligning our goals with the evolving needs of the communiiies e serve. Future plans Looking ahead, we will be building on our recent successe% including the recruitment of four new committee mcmbcrs who bring fresh pcrspcctivcs and cncrgy to out teatn. Wc are revisiting our inission goals in tbe light of current social and community needs as well as the sirafrgy to deliver them. Additionally, 'e will continue to develop our grant funding initiatives to support our projects and services. The trustees remain commiited to enhancing and maintaining the faciliiies at Wesiende Almshouses, thus ensuring the well-being of our rcsidcnts. To support our stratcgic dcTr'clopmcnt, a Board and Managcmcnt Away Day is schcdulcd for April 2025. This session will help assess curreni progress. ideniify fumre opporluniiies. and shape priorities lo ensure ali8nnllt with our mission and stakebolder needs. Statement of trustees, responsibilities The trustees (who are also ihe directors of Wokingham United Charities for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and Unitcd Kingdom Accounting Standards (Unitcd Kingdom Gcncrally Acccptcd Accounting Practicc), including FRS 102 "The Financial Reporting Standard applicable in ihe UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under coinpany law the trustees must not approve the financial statements unless they are saiisfied that they give a true and fair iwiew of the state of aftairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial slatements, the trustees are required to= select suitable accounting policies and apply them consistently. obscrvc thc mcthods and principlcs in thc Charitics SOiiP- make judgements and estimates that are reasonable and prudent; state whether applicable accounting standaids. comptising FRS 102 have been followed, subject to any material departures di£closed and explained in the financial statements- and prepare the financial SleMentS on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy al any time the financial position ofthe charitable company and enable tliem to ensure ihat the financial statements comply with the Companies Act 2006. They are also responsible foi safeguarding the assets of the charitable company and hence for raking reasonable steps for the prevention and deiection of fraud and other irregularities. The tnleeS are responsible for the mainlenance and integrity of the corporafr and financial infomiation included on the charitable company's website. Legislation goiTerning the preparation and dissemination of rmancial statements may differ from legislation in otbei jutisdictions. Page 9
Wokingham United Charities Trustees, Report (continued) Disclosure of information to auditor Each trustec has taken stCP5 that they ought to have taken as a trusttt in order to make themselves aivare of any relevant audit infom)ation and to establish that the charity's audiior is aware of that information. The trustees confirni tbat there is no relevant information that they know of and of which they know the auditor is unaware. Reappointment of auditor In aLLordanLC Wlth scLtion 485 of ihc CoTtwanics Act 2{6, a rcsolution foi thc rc-appointmcnt of Valc & Wcst Accountancy Services Limited as audiiors of the chariry is io be proposed at the forthcoming Annual General Meeting. 2211112025 The annual report was approTr'ed by the trustees of the charity on .................... and signed on its behalf by.. J E I lartley Chair and trustee Page 10
Wokingham United Charities Independent Auditor's Report to the Member5 of Wokingham United Charities Opinion We haN'e audited the financial statements of Wokingham United Charities (the 'eharity') for the year ended 31 March 2025, which comprise the Staiement of Financial Aciivities, Balance Sheet, Statement of Cash Flows. and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework thai has been applied in their preparaiion is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reportino Standard applicable in the UK and Republic of Ircland, and applicablc law {Unitcd Kingdom Gcncrally Acccptcd Accounting Practicc). In our opinion the fmarLcial stalements: give a true and fair view of Ihe state of the charily's affairs as at 31 March 2025 and of ils incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with Uni(ed Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the qUireMentS of the Companies Act 2006. Basis for opinion We conducted our audil in accordance with International Standards on Auditing (UK) {ISAs {UK)) and applicable law. Our responsibilities undet those standards ale funhei desLribed in the auditor responsibilities for the audit of the financial statcments section of our rcport. We are indcpcndcnt of thc charity in accordance th the ethical requirements that are relevant lo our audii of Ihe financial staiements in ihe UK. inLluding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believc that the audit eTr'idcnce wc have obtained is sufficient and appropriate to provide a basi5 for our opinion. Conclusions relating to going coneern In auditing thc financial statcmcnts, wc havc concludcd that thc trustccs usc of thc going conccrn basis of accounting in the preparalion ofihe financial staiemenis is appropriale. Bascd on the work we have performed, we have not identificd any material uncertainties relating to events or Londilions thai. individually 01 collcclivcly. may cast significanl doubt OD thc chdrity's ability lo Lontiiiue as a going concern for a period of at least tweli'e months from when the original financial stalements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the releN'ant sections of this report. Other information The trusfres are responsible for the other inforntion. The other infonnation Comprises the InforntIon included in the annual report. other than the financial statements and our auditor"s report thereon. Our opinion on the rinancial siaiements does noi cover the oiher infomlaiion and, excepi io the exient oiherwise explicitly stated in our repon, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other inforniation an in doing so, considcr whcthcr thc othcr information is matcrially inconsistcnt iF¥ith thc financial statcmcnts OT our knowledge obtained in Ihe audit or othenyise appears lo be maierially miss¢afrd. Ir we idenlify such malerial inconsistencies or apparent malerial misstatements, Ive are required to delerinine MThether there is a material misstatement in the financial statemeT]ts or a mateTial misstatemeT]t of the othu infoTmation. If, based on the work we have perfom]ed, we ¢onclude that there is a material rnisstatement of this other information, we are required to report that fd. ct. Page I
Wokingham United Charities Independent Auditor's Report to the Member5 of Wokingham United Charities (continued) We have nothing to report in this regard. Opinion on other matter prescribed by the Companie5 Act 2006 In our opinion. based on the work undertaken in Ihe course of the audit= the information giN'en in the TAtees, Report for the financial year for which the financial statements are prepared is consistent with the financial statements- and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which Ive are required to report by tAeeptio In the light of our knowledge and understandin? of the charity and its environment obtained in the course of the audit, wc havc not identified material misstatcments in the Trustees. Report. We have nothing to report in respecl of Ihe following matters there the Companies Act 2006 requires us lo report to you if, in our opinion= adeqiiate accounting records have not been kept, or returns adequate for our audit have not been received from branchcs not visilcd by us- or the financial statetnents are nol in agreement with the accounting records and returns- or certain disclosures of ttwsiees remuneration specified by law are not made: or we have not Teceived all the informatiOT] and cxplanations wc require foT OUT audit. Responsibilities of trustees As explained more fully in the Stalemeni of trustees, responsibilities (set out on page 9). the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trusttts detemine is necessary to enable the preparation of financial staiements that are free from material misstatemeni. wheiher due 10 fraud or error. In preparing the fmancial statements, Ihe trustees ale responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters relaied to going concern and using the going concern basis of accounting unless thc trustecs either intend to liquidate the charity or to ccasc operations. or have no realistic alt¢rnative but to do so. Auditor responsibilities for the audit of the financial statements Our objectivcs arc to obtain rcasonablc a5surancc about whcthcr thc financial statcmcnts as a Ththolc arc frcc from material missthtemenl. whethei due lo rtaud or error. and io issue an audiloi's report thal includes our opinion. Reasonable assurdnce is a high level of assurance, but is not a guarantee that an audit conducted in accordancc with ISAS (UK) will always detect a Tnatcrial misstatenient when it exists. Misstateinents can arise from fraud or error and are considered n]aterial if, individually or in the aggregate, they could reasonably b¢ expedcd to infiucncc Ihe economic decisioll5 of uscrs takcD oll the bas.is of thesc financial statemcDts. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below- Our approach to identifying and assessing the risks of Marial MISSlemen( in respecl ol irregularities, including fraud and non-compliance with laws and regulations, was as follows.. the engagemeni partner ensured that Ihe engagemenl ieam Collectively had the appropriaie competence, capabilitics and skills to identify or recognise non-compliance with applicable laws and rcgulations. we identified the laws and regulations applicable the company through discussions with directors and other management, and from our knowledge and experience of the charities sector. Page 12
Wokingham United Charities Independent Auditor's Report to the Member5 of Wokingham United Charities (continued) we focused on speciFic laiys and regulations which ive considered may have a direct malerial effecl on the financial staternents or the operaiion.s of the company, including the Cornpanies Act 2006, Charities A¢t 2011, employTnent and health and Safety legi51ation' we assessed the extent of compliance with the laivs and regulations identified above through making enquiries of management and inspecting legal correspondence- and identified la,$ and regulations were communicated within the audii team regularly and the ieam remained alert to inslances of non-compliance throughout thc audit. We assessed the siisceptibility of the company'5 financial statements to material misstatement. including ObLnIng an understanding of how fraud mighi occur. by.. making enquiries of D]anagement a5 to where they considered there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud- and considering the intemal controls in place to mitigate risks of fraud ad Don-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls. we: perfornied analytical procedures to identify any unusual or unexpected relationships- tested journal entries lo identify unusual trnnsactions- asscssed whether judgements and assumptions made in deternlining the accounting estimates weTe indicative of potential bias- and invesiigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which included, but were not limited to- agrcciDg financial statcmcnt disclosurcs to UDdcrlying supporting docuincntation. reading the minutes of meetings of those charged wilh governance. and enquiring of management as io actual and potential liiigaiion and claims. TheTe are inherent limilatsoDS in our audit prucedures desLribed above. The more removed that laws and regulaiions are frorn financial trdnsaciions. Ihe less likely li is that ive would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other managemeni and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of OUT Tesponsibilities for the audit of the finaTJcial statements is located on the Financial Reporting Council's website at Mvw.frc.org.uklauditorsresponsibilities. This description forn part of our Report of the Independent Auditors. Page 13
Wokingham United Charities Independent Auditor's Report to the Member5 of Wokingham United Charities (continued) Use of our report This report is made solely to the charitable company's trustee5. as a by. in accordance with Chapter 3 of Part 16 of Ihe Companies Act 2006. Our audi( work has been underthken so Ihal ive migh¢ state to (he charity's trustees those matters 'e are required to state to them in an auditor's report and for no other purpose. To the fullest extent perniilted by la,. we do noi accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this reporQ or for the opinions we have fonned. Jason Pykc FCA (Senior Statutory Auditor) For and on behalf of Vale & West Accountancy Services Limited. Statutory Auditors and Q"hartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RGI ITG 0111212025 Date=............................. Page 14
Wokingham United Charities Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restrieted Endowment funds funds 2025 Note Income and Endow'mellts from: Grant incoLne 725,868 725.868 208.209 325,145 Charitable activities Investment ineome 208.209 325,145 Total income 533,354 725,868 1,259,222 Expenditure on: Raising funds Charitable activities (4.097) (555,699) (40,584) (44,681) {1,337,452) (781,753) Total expenditure Gainsllosses on investment assets (559,796) 155,265 (781,753) (40,584} (1,382.133) (218,6211 (63.356) Net incomel(expenditure) Transfers bctween funds 128.823 .016 (55,885) (1,016) {259,205} (186,267) Net movement in funds 129,839 (56,901) (259,205} (186,267) Reconciliation of funds Total fimds brought forward 1,124,144 69,625 11,749,176 12,942,945 Total funds carried forivard 20 1.253.983 12.7?4 1,489.971 12,756,678 The notes on pages 19 37 fomj an integral part of these financial statements. Page 15
Wokingham United Charities Statement of Financial Activities for the Year Ended 31 March 2025 (continued) (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrieted funds Restrieted funds Endowment funds 2024 Note Income and Endow'mellts from: Donations and legacies Charitable activities Investment ineome 943.990 943.990 186.191 314,104 186,191 Total income 5(K).295 943,990 1,444,285 Expenditure on: Raising funds Charitable activities (3,372) (s,229) (38.199) (41,571) {1,597,074) (1,032,845) Total expenditure Gainsllosse8 on investment assets (567,601) (1,032,845) (38,199) (1.638,645) 72,539 971,879 1,044,418 Net incomel(expenditure) 5.233 (88.855) 933,680 850.058 Net movement in funds 5.233 {88.855) 933.680 850.058 Reconciliation of funds Total FLdS brought forward 1,118.911 158.480 10.815,496 12,092.887 Total funds carried forivard 20 1.124,144 69,625 11,749,176 12,942,945 All of the charity's activities dertve from continuing opeTations during the above two periods. The fi]nds breakdowi for 2024 is showi in note 20. The notes on pages 19 37 fomj an integral part of these financial statements. Page 16
Wokingham United Charities (Registration number: 05278018) Balance Sheet as at 31 March 2025 31 Marcb 2025 31 Mareh 2024 Note Fixed assets Tangible assets Invcstmcnts 13 14 170,930 12.555.218 176,155 12,645.933 12,726,148 12,822,088 Current assets Debtors Cash at bank and in hand 15 61,111 101,300 22,324 162,705 162.411 185,029 Credltors: Amounts falling due within one vear 16 (131.881) (64,172) Net current assets 30,530 120.857 Net assets 12,756,678 12,942,945 Fund5 of the charity: Endowment funds 1,489,971 11,749,176 Restricted income funds Restricted funds 12,724 69,625 Unrestricted income funds Unrestricted funds 1,253,983 1,124,144 Total funds 20 12,756,678 12,942,945 The f1nancial Statemen on pages 15 to 37 were approved by the trnstees. and authorised for issue on - and signed on their behalf by.. J E Hartley Tnte¢ J F Rogers Trustee The notes on pages 19 37 fomj an integral part of these financial statements. Page17
Wokingham United Charities Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Note Cash flows from operating activities Net cash (expenditure)lincon]e {186,267) 850.058 Adjustments to cash flows from non-cash items Depreciation Investment income Net {gains) losses on tnvestmenls Investment managemeni costs 5,225 (325,145) 177,616 44.681 5,225 (314,104) (1,044,418) 41,571 (283.890) (461,668) Working capital adjustments Increase iL] debtors Increase in creditors 15 16 138,787) 67.709 (1,284) 16,639 Net cash floivs from operating activities (254,968) (446,313) Cash flows from investing Y&ctiN'ities Acquisitions of investments ProLecds from sale of investments Fixed asset investment income Investmeni managemenl cosls (2,230,853) 2.143.952 325.145 (44.681) (2,722,677) 2.745.138 314.104 (41,571) Net cash flows from ini'esting activities 193.563 294.994 Net decrease in cash and cash cquivalcnt5 (61,405) (151,319) Cash and cash equivalents al l April 162,705 314,024 Cash and cash equiialents at 31 March 101,300 162.705 Reconeiliation of net eash flow to movement in net funds (Decrease)lincrease in cash (61.405) 162.705 Net fundsl(debt) at l April 2024 162,705 (314,024) Iyet fundsl{debt) at 31 March 2025 101,300 (151,319) All of the cash flow's are derived from continuing operations during the above two periods. The notes on pages 19 37 fomj an integral part of these financial statements. Page18
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 I Cbarity Status The charity is limited by guarantcc, IncoOrated in England and Wales, and consequcntly does not hat share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the cvcnt uf liquidation. The registered office address is stated in the Reference and Administrative Details section of the Annual Report. 2 Accounting policies Summary of signifieant aecounting policies and ke}. aecounting estimates The principal accounting policies applied in the preparation of these fmancial slaten]ents are set out below. These policies have been consistently applied lo all the years presenie& unless otherwise stated. Statement of eomplianee The financial starements have been prepared in accordance witb Accounting and Reporting by Charities.. Statement of Reconunended Practice {applicable to charities PTepating their accounts in accordance with the Financial Reportinn Standard applicable in Ihe UK and Republic of Ireland (FRS 102)} (issued in October 2019) (Charities SORP (FRS 102)), the Financial Rew)rting Standard applicable in the UK and Republic of Ireland {FRS 102) and ihe Companies Act 2006. Basis of preparation Wokingham United Charilies meets the derltIon of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or trdnsaction value unless otherwise stated in the rclcvant accounting policy notcs. The presentional and functional currency of the Charity is Sterling (£) and the financial statements are rounded to the nearest £1. Going concern The financial statements have been prepared on a going concern basis. The trustees assess .ether the use of going concern is appTopriate i.e. hether there are any niaterial uncertainties related io events or conditions that may cast significant doubt on the ability of the charity to Lontinue as a going concern. The ttustees make this assessment in respeLi of a peiiod of one year from the date of approval of the financial statements. Group accounts not prepared The accounts of Wokinglwn United Charities have not been consolidated with those of WUC Land Management Ltd as the irusiees Consider that the amounts involi'ed are not maierial. Page 19
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 2 Accounting policies (continued) Critieal accounting judgements and key sources of estimation uneertainty, In the application of the charity's accounting policies. trustees are required to n]ake judgements, estin]ates and assumptions about the carrying i'alue of assets and liabilities that may not be readily apparent from other sources. The estiination and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimaies. The estimates and underlving assumptions are reviewed on an on-going basis. ReN'isjoDS to accounting estimates are recognised in the period in which the estimate is iei'ised if the ieN'ision atTects only that period or in the period of revision and future periods if the revision affects the current and future periods. The critical judgement that has the most significant effect on amounts recognised in the financial statements is the market valiie of listed fixed asset investments. Listed investments are revalued at each balance sheet date and ihe markct movemcnl is recugniscd as a gain or loss in thc stalen]ent of finanLial activities foT Ihc period, The trustees engage professional ini'estment fund managers who i-alue the inN'estments at each accounting date by reference to stock market indices. The listed ini-estmenis are therefore subject to market volatility and any changes in value may significanily affect results of the period and future periods. Income and endoTrvments All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is piobable that the income will be ieccived and tbe arnount can be tneasured reliably. The following specific policies are applied to particular categories of income: Monthly maintenance contributions are recognised when receivable. Grants whcrc cntillcmcnt is not conditional on thc dclivcry of a spccific pcrformancc by thc charity, arc recognised when the charitv becomes unconditionally eniitled ¢0 the grant. Investn]ent income is included when receivable. Grants receivable Grants, including Governtnent gryants from local authoTities. aTe Tecognised Th'hen the charity has an entitlen]ent to the fiinds and any conditions linked to the erdnts have been met. Where perfom]ance conditions are attached tu thc gryant arc yet lu bc tnet, the income is rccogui5cd a liability and included on thc balanLt shLL"t as deferred income to be released. Expenditure All expenditure is recognised once there is a legal or construciive obligation to thal expenditure, it is probable settlement is required and the amount can be measuied ieliably. All costs are allocated to the applicable expenditure heading that aegregate similar costs to that category. Where costs cannot be directly attributed to partiLulai hcddings they have been alloLaied on a basis consistent with the usc of iesourLes, wilh Lcntral staff costs allocated on the basis of time spent: and depreciation charges allocated on the portion of the asset's use. Other siipport costs are allocated based on the spread of staff costs. Rai.singfunds Raising funds comprise Ihe costs associated TAith managing Ihe charitys investmen¢ ponfolio. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. li includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 20
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 2 Accounting policies (continued) GraHI cypenditure Grants payable are recognised as expenditure in the year in which a bindiiig comtnitment to make payments is entered inio and there are no condilions io be mei relating to the grant ii."hich remain in the control of the charity. Granlprovisions Provisions for grants are made when the intention to make a grant has been communicated to the recipient but thcrc is unccrtainty about cithcr thc tin]iDg of thc grant or thc amount of grant payable. Support costs Suppon costs comprise costs incunEd centrally in support of the chariry. This includes goi'ernance costs, these are the costs of rutming the charitable Company, including sirategic planning, external audii, any legal advice for directors, and all costs of compl)ring 1¢h consiiiutional and statutory requirements, such as the costs of board and committee meetings and of preparing statutory accounts and complying with public accountability- GoTrernance costs Thcsc includc thc costs attributablc to thc charity's compliancc with constitutional and statutory rcquircmcnts, including audit, siralegic management and irnsiees meeiings and reimbursed expenses. Taxation The charity is considered to pass the tests set out in Pardgrdph I Schedule 6 of the Finance Act 2010 and therefore it meeis the definition ol a charitable company for UK corporation thx purposes. Accordingly. the charity is potentially exempt from taxation in respe¢1 of income or capital gains received within categories covcrcd by Chaptcr 3 Part I l of thc coOTation Tax Act 2010 or Scction 256 of thc Taxation of Chargcablc Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulaied impaim]enl losses. Contributions towards the cost of fixed asscts are includcd as incomc whilst thc gross cost of fixed asscts are capilalised. Iiems wider £500 are nol capitalised. Depreciation and amortisatioll Depreciation is provided on tangible fixed asset5 so as to write off the cost or iTaluation, less any estimated residual N'alue. over their expected useful economic life as follows: Asset class Freehold propety Fixtures and fittings Depreciation method and rate Straight line oi'er 50 years Straight linc over l O years Page21
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 2 Accounting policies (continued) Fixed asset investments Fixed asset investments are included at n]arket value at the balance sheet date. Realised gains and losses on investments are calculaied as the difference betu'een sales proceeds and their market iwalue at the start of the year. or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movevnent in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Trade debtors Trade debtors are atnounts due from customers for merchandise sold or services perfornied in the ordinary course of business. Trade debiors are recognised inttially ai the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairn)eni. A provision for the impaiment of trade dcbtors is cstablishcd whcn thcrc is objcctivc cvidcncc that thc charity will not bc ablc to collect all amounts duc a¢¢ording to the original tern of the receivables. Cash and Cash equii'alents Cash and cash equii'alents comprise cash on hand and call deposits, and other short-temi highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade crcditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the rewrting period, to defer settlement of the creditor for ai least twelve months after the reporting dale. If there is an uncondilional right to defer settlement for at least twelve months aft¢r the r¢porting dat¢, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cosl Using thc cffcclivc intcrcst mcthod. Fund structure Unreslricied income funds are general fvnds that are available for use ai the trustees discretion in furtherance of the obj¢ctives of the charity. Designaled funds are unrestricted funds set aside for specific purposes at the discretion of the truslees. Rcstrictcd incomc funds arc ihosc donatcd for usc in a particular arca or for spccific purposcs, thc usc of Trthich is resiriLted io that area 01 purpose. Pensions and other post retirement obligations The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable Lompany's pension sLbeme ale charged to the Staiement of Financial Activities in the petiod to which they relate. Page 22
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 2 Accounting policies (continued) Financial instruments C14.$sifQÉl0rt Financial assets and financial liabilities are r¢¢ognised when the charity becomes a party to the contractual proviSLons of thc iDstrumcnt. Financial liabilities and equity instruments are classified according to the substance of the contractual atrangements enleied inio. An equily instrumeni is any coniracl thai evidences a iesidual inleresl in the assets of the ¢harity after deducting all of its liabilities. Recognition and mea5uremenl All financial assets and liabilities are initially measured at trdnsaction price (including trdnsaction costs), except rur thosc finanLial asscts classified as at fail valuc through profit or 105s. whiLh are iT)itially Ineasured at fail value (.l¢h is nornially the Iransaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an atrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar dcbt instrutncnt. Financial assets and liabilities are only offset in the statement of financial position when. and only when there exists a legally enforceable right to sei off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial assct cxpirc or arc scttlcd, b) thc charity transfcr5 to anothcr party substantially all of thc risks and rewards of ow)ership of the financial assei, or c) Ihe charity, despiie having retained some, but not all, significant risks and rcwards of o11c[Ship, has transfcrrcd control of thc asscl to aDothcr party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled 01 expiies. Inve.ftment.s Investmenis in non-convertible preference shares and non-puttable ordinary or preference shares {where shares are publicly traded or their fair value is reliably measurable) are measured at fair N'alue ihrough profit or loss. Where fair value cannot be measured reliably. investments are measured at cost less impairnient. Invcstmcnts in subsidiarics arc Tncasurcd at C05t Ic5s impairmcnt. Page 23
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 3 Income from grants Restricted funds 2025 2024 Grants, including capital grants- Local Government grnnts 725.868 725,868 943,990 725.868 725.868 943.990 Grants received, included in the above, are as follows= 2025 2024 Wokingham Borough Council - Household Support Wokingham Borough Council - Hardship Alliance Wokingham Borough Council - Bright Futures 702,952 910,000 31,906 2,084 22,916 725.868 943.990 4 Ineome from eharitable aetivities Unrestrieted funds General 2025 2024 Relief in Need Almshouse 17,650 190.559 17.650 190,559 186,191 208,209 208,209 IS6,191 Alrnhouse comprises maintenance charge income received from residents. 5 Investment income Unrestricted funds Designated General 2025 2024 Fixed asset investment income 13.619 311.526 325,145 314,104 Page 24
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 6 Expenditure on raisin% funds Endowment funds Permanent Unrestricted funds Designated General 2025 2024 Invcstmcnt n&wgcrncnt fcc5 Porfolio management 1.760 2.337 40.584 44,681 41.571 7 Expenditure on charitable activities Grant cost Support eost (Ilote 9) (Note 8) Direct Cost Totals Relief in Need Almshouse 59.618 207.699 1,029,755 25,056 15.324 ,114,469 223,023 267.317 1.029,755 40,380 1,337,492 Direct costs. included in the above, as as follows- Relief in l%e¢d Almshouse 2025 2024 Staff costs Rates and water 41,195 145 44,304 2,811 6,552 26.318 1,540 110 86,499 2,956 5,987 27,928 3,768 5,506 6,005 5,500 96,545 14.406 4.534 2,458 109,459 2,814 8,023 18.107 4,539 5,031 28,478 5,241 107,522 11,789 4.581 2,382 449 5.225 Insurances Light and heat Tclcphonc Advenising Office and sundries Professional fees Repairs Maintenance Cleaning Gardening Security Depreciation (565) 1.610 2.228 5.396 3,455 2,750 1,356 706 222 120 2.550 2.750 95,189 13.71 4,312 2.338 5.225 5.225 58,618 207.699 267,317 313,640 Repairs include £50,248 expended from the desiated Cyclical Maintenance Fund and £16.739 from the designaied Extraordinary Repair Fund. Page 25
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 8 Management and goverance costs Management Costs Governance Total Relief in Need Almshouse 16,045 12,091 9,011 3,233 25,056 15,324 28.136 12,244 40.380 Support cost, included in the above, comprise.. Relief in Need Almshouse 2025 2024 Salaries and other expenses Miscellaneous cost including professional fees Audit lees for audii seryives Audit fccs for non-audit scrviccs 5,863 5,864 11.727 11,359 10,182 4,942 4,069 6.227 2,220 1,013 16,409 7.162 5,082 21,129 6,998 4.612 25.056 15,324 40,380 44,098 9 Grant-making Grants to 1115titutions 2025 Grants to indii'iduals 2025 2024 2024 Analysis of grants Organisalions 36 (2024.. 31) Essential Itetns 143 (2024= 121) Lo¢al Welfare Provision O (2024= 30) Household Support 2650 (2024= 2121) Bright Futures 21 (2024.. 0) Bright Futures 9 (2024.. 0} 185,906 224,661 86,229 54,300 11,641 735,620 948,734 16,115 5.885 202,021 224,661 827,734 1,014,675 Grants paid during the year were directed entirely towards individuals and families experiencing hardship, in cirLumstances whcre no alternative support was available. Support w'as providcd for esscntial physical items such as household goods, cloihing, and educational nttds. In addition, grants were aarded to address issues including isolation. loneliness. and homelessness. Page 26
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 9 Grant-making (continued) Below are details of material grants made to institutions 2025 2024 Name of institution All Saints Primary School ARC ActiviN' Rclicf in Nccd Relief in Need Relief in Need Relief in Need 2,162 7.500 1,200 1,932 7,500 Becalm Foundation Berkshire Community Foundation Berkshire Healthcare NHS Foundation Trust Bohunt School Camp Mohawk CLASP The Cowshed Crowthorne Churches Together Edgebarrow School FinLhampslcad Baptist Church First Days Children's Charity The Foresi School Gorse Ride Junior School Grazclcy Parochial COE Primary School Hawkedon Primary School The Hawthorns Primary School Headway Thames Valley Highwood Primary School Thc Holt School Home-srart Wokingharn District Kaleidoscopic UK Kccp Hatch Prin]ary School The Link Visiting Scheme Maiden Erlegh School National Youth Advocacy Service NiT]e Mile Ride Primary School (hir Community First PACT Polehampton Junior School Power of Parenting Promise Inclusion Remap RenoN'a Trust i 10,000 Relief in Need 2.500 410 Rclicf in Nccd Relief in Need Relief in Need Relief in Need Relief in Need Relief in Need Rclief in Nced Relief in Need Relief in Need Relief in Need 6,400 7,651 23,200 1,255 2,000 2,000 946 245 2,000 5,967 17,230 2,000 500 3,395 Relief in Need 150 3,464 500 Relief in Need Relief in Need 468 Relief in Need Relief in Need Rclicf IT] Nccd Relief in Need Relief in Need Rclicf in Nccd Relief in Need Relief in Need Relief in Need Rclicf in Nccd Relief in Need Relief in Need Relief in Nttd Relief in Need 1.500 loo 651 20,000 2,000 3,190 2,000 125 3.300 2.000 9,670 2,000 i 0,000 200 5,000 Relief in Need Relief in Need Rclief in Need 5,000 1.000 15,000 1,538 Robert Piggott School Relief in Need Page 27
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 9 Grant-making (Continued) Share Wokingham Relief in Need Shinfield St Mary's CE Junior School Relief in Need St Nicolas Church of England Primary School St Scbastian's Parcnt Tcachcr Association The Rotary Club of Wokingham Tf0rd Comets FC Tyford, Wargarve & District Voluntecr Ccntre Walter Infant School Whileknights Primary School Winnersh Primary School Wokingham Baptist clCh Wokinghan Borough Charities Wokn'ngham and DistriLt Citizens Advice Bureau Wokingham Borough Council Duke of Edinburgh Wokingham Job Suppon Centre The Wokingham Lions WokiT)gham Withoul Mcn's Shcd Woodley CofE Primary School Yeldhall Manor i 0,000 3,000 Relief in Need 950 245 Relief in Need 6,000 Relief in Need Relief in Need 500 500 Relief in Need 1,000 Relief in Need Relief in Need Relief in Need Relief in Need Relief in Need 520 2,108 250 1,400 1,307 Relief in Need 61,308 25,290 Relief in Need 400 Relief in Need Relief in Need Rclicf in Nccd Relief in Need Relief in Need 5,000 1,000 5.000 1.950 1,920 185 224,661 202,021 10 Net inCOmiDgloutgoing resources Net outgoing resources for the year include: 2025 2024 Auditors, remuneration for audit services Auditors, remuneration for non-audit services {Profit)/loss on disposal of investments Depreciation of fixed assets 7,162 5,082 (114,260) 5.225 6,998 4,612 8,140 5.225 Page 28
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) I l Trustees remuneration and expenses Tru5tees' remuneration No trustees, nor any persons connected with them, have received any remuneration from the charity during the ycai. Trustees, expenses ThcTC wcrc no cxpcnscs paid to trustccs (2024: £1:007) during thc ycar. 12 Staff costs 2025 2024 Wages and salaries Social security costs Other pension costs 92,511 2,622 3.093 13.971 4,452 2,395 98,226 120,818 The monthly aireraiye number of perwns (includtng management) employed by the charity during the year expressed as full time equivalents was as follows= 2025 2024 Number Number Full lime Part time No employee received emoluments of more than £60.000 during the year. The total iernuneration (incuding pension benefits) of key management personnel of the charity were £40,733 (2024 - £38,810). Page 29
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 13 Tangible fixed assets Land alld buildings Furniture and equipmenl Total Cost At l April 2024 258,870 240 259,110 At 31 March 2025 258,870 240 259,110 Depreciation At l April 2024 C"harge for the year 82.955 5.177 82,955 5,225 48 At 31 Mawh 2025 88.132 48 88,180 Net book value At 31 March 2025 170,738 192 170,930 At 31 MarLh 2024 175.915 240 176,155 All tangible fixed assets are used for activities in either the furthcrance or swpport of the charity's objects. 14 Fixed asset investments 31 March 31 March 2024 Shares in group undertakings Listed investtncnts and managed cash deposits 12,555,217 12,645,932 12,555,218 12,645,933 Shares in group undertaking5 Shares in group undertakings comprise IOO/o interest in Ihe issued ordinary share capital of WUC Land Management Limited. a property management company registered in England and Wales. Page 30
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 14 Fixed asset investments {¢ontinlled) Listed investments Listed iniestments Managed cash deposits Total Cos¢ or Valuation At l April 2024 Revaluation Additions Disposals 12,475,696 (177,616) 2,198,195 (2.143,952) 170,236 12,645.932 (177,616) 2,230,853 {2.143,952) 32,658 At 31 March 2025 12,352,323 202,894 12,555,217 Net book value At 31 March 2025 12,352.323 202,894 12,555,217 At 31 Mar¢h 2024 12,475,696 170,236 12.645,932 The market value of the listed investments al 31 March 2025 was £12,352,32312024- £12,475.696). The historic cost of the listed investments at 31 March 2024 £1 1,189,130 (2024= £11,083,051)- Analysis of listed investments: 31 March 2025 31 March 2024 UK Bonds Overseas Bonds UK Equities North American Equities F.uropean F.quities Japancsc Equitics Developed Asia ex Japan Equities Emerging Market Equities Global Inv"estmcnts Absolute Return 571,000 1.013.391 1,654,899 3,178,452 429,731 286,827 588.955 100,641 3.464.636 88,594 244,509 206,853 246,091 199,964 77,780 562,799 914,404 1,753,741 3,008,850 523,965 264,878 546.439 91,621 3,720.698 84.481 254,808 251,162 271,266 101,763 124,820 Property Private Equity Other Investments Commodities Cash Products 12,352,323 12,475,695 Page31
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 14 Fixed asset investments {¢ontinlled) Investments forniing more tlwi 5 % of tbe total portfolio value: 31 March 2025 31 March 2024 COIF Charities Global Equity Income Fund Fidelity US Quality Income UCITS ETF- GBP Income Class 3,096.350 674,928 3,296,610 3,771,278 3,296,610 15 Debtors 31 March 2025 31 Lllarch 2024 Trade debtors Due from group undertakings Other debtors Prepayments and accrued income 5.030 1,507 502 792 19,523 56,081 61,111 22,324 16 Creditors: amounts falling due thIn one l'ear 31 March 2025 31 Mareh 2024 Trade creditors Ac¢ruals 77.664 54.217 34.331 29,841 131,881 64,172 17 Contingent assets A cash deposit is held in trust by Wokingham Borough Council on behalf of the Charity as a security for the Charity's obligation for thc ongoing maintcnancc of local Suilablc Altcrnatii'c Natural Grccn Spacc (SANG) land. This contin¥enl asset is noi recognised in ihe Charitgs accounts due to the long (emi nature of the obligation and uncertainty of re¢overing the deposit. The toial value of contingent assets is £572,676. 18 Contingent liabilities As at thc balancc shcct datc, thc charity had authoriscd grants for paymcnt in thc ncxt financial ycar of £30,000 (2024: £28.500). Page 32
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 19 Related part). tran5a¢tion5 During the yeaT the charity made the following relaied party transactions: R Margetts R Margetts, a trustee of the charity, also serves as a Councillor for Wokingham Borough Council. During the ycar, thc charity rcccivcd grant5 totalling £725,868 (2024.. £94J,990) from Wokingham Borough Council in support of ils Relief in Need activities. K Hadfield K Hadfield, a trustee of the charity, is also associated with ARC. During the year. the Charity awarded a grant of £7,500 {2024= £15.000) lo ARC. D Morrison D Morrison, a trustee of the charity, is also associaied with CLASP. During the year, the charity awarded a grant of £7,651 {2024= £1,255) to CLASP. K McGill K Mc(will, a trustec of the chaTity, is also associated with Homestart Wokingham. During the year, the charity awarded a grant of £20,000 to Homestan Wokingham. Page 33
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 20 Funds Other recognised Balance gains at31 and March (losses) 2025 Balance atl April Incoming Resources 2024 resources expended Transfers Unrestricted funds General Rclicf in Need Aln]shouse 601,318 201.063 319.598 {334.481) (30,373) 156,615 712,677 200.137 (156.568) {2.880) 11,181) 240.571 519,735 (491,049) {33,253) 155.434 953,248 802.381 Designated Cyclical Maintenance Extraordinary Repair 100.265 221.498 4,751 8.868 (50,862) (17,885) 40.229 {i.960) (549) 380 93,834 206,901 321.763 13,619 168,747) 34.269 (169} 300,735 Total unrestrieted funds 1.124.144 533.354 {559.796) 1.016 155,265 1,253,983 Restricted funds Household Support Fund Bright Trutures Trund 67.541 2.084 702,952 (757,253) 22.916 (24.500) (1,016) 12,224 500 69,625 725,868 (781,753) (1,016) 12,724 Endowment funds Permanent Relief in Need Endownenl Fund 11,373,090 Almshouse Endowment Fund 376.086 (38,791) (1.793) (220,683) 11,113,616 2,062 376.355 ,749.176 {40,584} (218,621} 11,489,971 Total funds 12,942,945 1,259.222 (1,382,133) (63,356) 12,756,678 Page 34
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 20 Funds (continued) Other recognised Balance gains at31 and March (losses) 2024 Balance atl April Incoming Resources 2023 resources expended Transfers Unrestricted funds General Relief in Need Almshouse 620.568 185,249 294,623 {349.755) 205,672 (145,836) (52,360) 3).882 8,338 601.318 201,063 805.817 500.295 (495.591) {52.360) 44,220 802,381 De.fignatÉd Cyclical Maintenance Extraordinary Repair 124,808 188.286 (67,556) (4.454) 33,096 19,2 9,917 18,402 100,265 221,498 313,094 (72,010) 52.360 28,319 321,763 Total unrestrieted funds 1,118,911 500,295 (567,601) 72,539 1,124,144 Restricted funds Local Welfare Provision Fund Hardship Alliance Fund Houschold Support Fund Bright Futures Fund 11.681 {553) 147,352 (11,681) 31.906 (31,353) 910,OIM) (989,811) 2.084 67,541 2,084 158.480 943.990 (1,032,845) 69,625 Endowment funds Permanent Rclicf in Nccd Endoincnl Fund 10.466,834 Almshouse Endowment Fund 348,662 (36.508) (1,691) 942,764 11,373.090 29,115 376,086 10.815.496 {38.199) 971.879 11,749.176 Total funds 12,092,887 1.444,285 (1.638,(A5) 1,044,418 12,942,945 Page 35
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 20 Funds (continued) General funds General fiLnds are available for the furtberdnce of the charity's objectives as follows: Almshouse Fund - funds for the provision of almshouses in Wokinghain. . Relief in Need Fund - funds for the making of gwants for those in nttd. hanlship or distress. Designated fulld5 Funds have been set aside for specific purposes by the trnstees as follows- Cyclical Maintenance Fund - funds for almshouse repairs recurring a¢ infrequent but regular intervals. . Extraordinary Repair Fund - fimds for n]ajor"one-OtT' almshouse repairs and improvements. Restricted funds Funds with rcstrictcd purposcs aTC as follows: Local Welfare Provision Trund - funds foT the proi'ision of critical short-ierni help and assistance with limited one-off household goods. Household Support Fund - funds for the provision of fjnancial support for food and fuel to those in need in Wokingham. Hardship Alliance Fund - funds to ta¢kle poverty in Wokingham Borough. Bright Futures Fund funds to empower children from low-income households through enriching extracurricular experiences Permanent endoivmen¢ funds Thcsc arc thc capital funds rcccivcd by various prcdcccs50r charitics, whcrc thcrc is no powcr to convcrt this into income. Transfers between funds Transfers are made to the designated almshouse repair funds based upon the guidelines issued by the National AIn'houSe Assuciation. t)uring the year £5,960 (2024.. £19.264) M'as transferred to the Extraordinary Repair Fund from the general Almshouse Fund and £40,229 (2024: £33,096) M'as transferred from the Cyclical Maintenance Fund from the gcncral Almshousc Fund. Page 36
Wokingham United Charities Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 21 Analysis of net assets behveen funds Total fund5 at31 March Endowment funds Permanent Unrestricted fund5 General Designated Restricted funds 2025 Tangible fixed assets Fixed asset ini'eslments Current assets Current liabilities 170.930 7)3.665 126,785 {98,132) 170.930 12,555,218 162.411 {131,881) 301,192 11,500,361 35,626 (22.902) (457) (10.390) Total net assets 953.248 300.735 12.724 11.489,971 12,756,678 Total funds at31 Mareh 2024 Endowment funds Permanenl Unrtstricted funds General Designaled Restrieted funds Tangible fixed assets Fixed asset investments Cu¢llt asscls Current liabilities 146.797 626.808 78.698 {49,922) 29.358 292.862 176,155 12,645,933 185,029 (64.172) 11.726,263 33,302 (10.389) 73,029 {3,404) (457) Total net assets 802.381 321.763 69.625 11.749,176 12,942,945 Page37