2025-12-31-accounts - Watling Community Association

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Watling Community Association

Charity No. 1107689

Company No. 05268484

Trustee's Report and Unaudited Accounts

31 December 2025

Watling Community Association Contents Pages Page I

Watling Community Association Trustees Annual Report

The trustee, who is also a director of the charity for the purposes of the Companies Act 2006, presents their report with the unaudited financial statements of the charity for the year ended 31 December 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 05268484

Charity No. 1107689

Registered Office

Watling Community 145 Orange Hill Road Edgware HA8 0TR

Director and Trustee

The Director of the charitable company are its Trustee for the purposes of charity law. The following Director and Trustee served during the year:

Company Secretary

V.A. EDWARDS

Accountants

Aria Accountants Ltd 130 Manor Way Ruislip HA4 8HR

The Trustee is 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 Companies Act 2006. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

V.A. EDWARDS

Company Secretary 10 March 2026

Page 2

Watling Community Association Statement of Financial Activities

for the year ended 31 December 2025

Unrestricted funds 2025 £ 3,698 191,504	Restricted funds 2025 £ - -	Total funds 2025 £ 3,698 191,504	Total funds 2024 £ 5,398 177,959
195,202 20,000 146,437	- - -	195,202 20,000 146,437	183,357 - 137,226
166,437 -	- -	166,437 -	137,226 -
28,765 -	- -	28,765 -	46,131 -
28,765	-	28,765	46,131
28,765 -	- 772,288	28,765 772,288	46,131 726,157
28,765	772,288	801,053	772,288

Page 3

Watling Community Association Summary Income and Expenditure Account

for the year ended 31 December 2025

Income Interest and investment income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net income before tax for the year Net income for the year	2025 £ 191,504 3,698 195,202 145,785 20,652 166,437 28,765 28,765	2024 £ 177,959 5,398
		183,357
		109,173 28,053
		137,226
		46,131
		46,131

Page 4

Watling Community Association Balance Sheet

at 31 December 2025

Company No. 05268484 Notes 2025 £ Fixed assets Intangible assets 10 22,752 Tangible assets 11 254,671 277,423 Current assets Debtors 12 803 Cash at bank and in hand 522,827 523,630 Net current assets 523,630 Total assets less current liabilities 801,053 Net assets excluding pension asset or liability 801,053 Total net assets 801,053 The funds of the charity Restricted funds 13 Restricted income funds 772,288 772,288 Unrestricted funds 13 General funds 28,765 28,765 Reserves 13 Total funds 801,053	2024 £ 30,336 252,522
	282,858 - 489,430
	489,430
	489,430 772,288
	772,288
	772,288
	772,288
	772,288 -
	-
	772,288

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 December 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

Approved by the board on 10 March 2026

And signed on its behalf by:

Trustee

10 March 2026

Page 5

Watling Community Association Statement of Cash flows

for the year ended 31 December 2025

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Amortisation of intangible assets Dividends, interest and rents from investments (Increase)/Decrease in trade and other receivables Decrease in trade and other payables Net cash used in operating activities Cash flows from investing activities Payments for property, plant and equipment Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2025 £ 28,765 13,068 7,584 (195,202) (803) - (146,588) (15,217) 195,202 179,985 - 33,397 489,430 522,827 522,827 522,827	2024 £ 46,131 20,469 7,584 (183,357) 981 (495)
		(108,687) (169,888) 183,357
		5,501

		-

		(103,186)
		592,616
		489,430

		489,430

		489,430

Page 6

Watling Community Association Notes to the Accounts

for the year ended 31 December 2025

1 Accounting policies

Basis of preparation

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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Watling Community Association Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

Watling Community Association Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 9

Watling Community Association

Notes to the Accounts

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Investments Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from investments 5 Other income	Unrestricted funds 2024 £ 5,398 177,959 183,357 137,226 137,226 46,131 46,131 46,131 - 46,131 Unrestricted £ 3,698 3,698 Unrestricted £ 191,504 191,504	Restricted funds 2024 £ - - - - - - - - 726,157 726,157 Total 2025 £ 3,698 3,698 Total 2025 £ 191,504 191,504	Total funds 2024 £ 5,398 177,959
			183,357 137,226
			137,226
			46,131
			46,131
			46,131 726,157
			772,288
			Total 2024 £ 5,398
			5,398
			Total 2024 £ 177,959
			177,959

Page 10

Watling Community Association Notes to the Accounts

6 Expenditure on charitable activities

Expenditure on charitable activities Governance costs 7 Other expenditure Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net income before transfers This is stated after charging: Depreciation of owned fixed assets Amortisation of intangible fixed assets 9 Staff costs Salaries and wages Pension costs	Unrestricted £ 20,000 20,000 Unrestricted £ 79,065 2,717 38,371 20,652 1,254 4,378 146,437 2025 £ 13,068 7,584 2025 78,124 941 79,065	Total 2025 £ 20,000 20,000 Total 2025 £ 79,065 2,717 38,371 20,652 1,254 4,378 146,437	Total 2024 £ -
			-
			Total 2024 £ 68,992 399 24,120 28,053 11,006 4,656
			137,226
			2024 £ 20,469 7,584 2024 67,955 1,037
			68,992

No employee received emoluments in excess of £60,000.

Page 11

Watling Community Association Notes to the Accounts

10 Intangible fixed assets

Cost At 1 January 2025 At 31 December 2025 Amortisation and impairment At 1 January 2025 Amortisation charge for the year At 31 December 2025 Net book values At 31 December 2025 At 31 December 2024 11 Tangible fixed assets Cost or revaluation At 1 January 2025 Additions At 31 December 2025 Depreciation and impairment At 1 January 2025 Depreciation charge for the year At 31 December 2025 Net book values At 31 December 2025 At 31 December 2024 12 Debtors Prepayments and accrued income	£ 474,762 - 474,762 240,560 4,684 245,244 229,518 234,202 2025 £ 803 803	Develop-me nt costs £ 37,920 37,920 7,584 7,584 15,168 22,752 30,336 £ 75,335 15,217 90,552 57,015 8,384 65,399 25,153 18,320	Total £ 37,920
			37,920
			7,584 7,584
			15,168
			22,752
			30,336
			£ 550,097 15,217
			565,314
			297,575 13,068
			310,643
			254,671
			252,522
			2024 £ -
			-

Page 12

Watling Community Association Notes to the Accounts

13 Movement in funds

Incoming resources (including other gains/losses ) £ - - 195,202 195,202 Unrestricted funds £ 254,671 522,827 777,498 At 1 January 2025 £	Resources expended £ - - (166,437) (166,437) Restricted funds £ 22,752 803 23,555 Cash flows £	At 31 December 2025 £ 772,288
		772,288
		28,765
		801,053
		Total £ 277,423 523,630
		801,053
		At 31 December 2025 £
489,430	33,397	522,827
489,430 489,430	33,397 33,397	522,827
		522,827

Page 13

Watling Community Association Notes to the Accounts

16 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

2025 Land and buildings £ Operating leases with expiry date: *Pension commitments* The pension cost charge to the company amounted to: 17 Related party disclosures *Controlling party*	2025 2024 Other Land and buildings £ £ 2025 £ 941	2024 Other £ 2024 £ 1,037

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 14

Watling Community Association Detailed Statement of Financial Activities

for the year ended 31 December 2025

Income and endowments from: Investments Other Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Employee costs Salaries/wages Pension costs Motor and travel costs Travel and subsistence Fares Premises costs Rates Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Amortisation Depreciation of land and buildings Depreciation of Bank charges Stationery and printing	Unrestricte d funds 2025 £ 3,698 3,698 191,504 191,504 195,202 20,000 20,000 20,000 78,124 941 79,065 1,524 1,193 2,717 - 21,582 5,072 7,657 1,266 2,794 38,371 7,584 4,684 8,384 2 -	2025 £ - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds 2025 £ 3,698 3,698 191,504 191,504 195,202 20,000 20,000 20,000 78,124 941 79,065 1,524 1,193 2,717 - 21,582 5,072 7,657 1,266 2,794 38,371 7,584 4,684 8,384 2 -	Total funds 2024 £ 5,398
				5,398
				177,959
				177,959
				183,357 -
				-
				- 67,955 1,037
				68,992
				399 -
				399
				5,163 4,331 5,007 7,290 - 2,329
				24,120
				7,584 14,362 6,107 - 337

Page 15

Watling Community Association Detailed Statement of Financial Activities

Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	- 1,252 21,906 1,800 2,578 4,378 146,437 166,437 - 28,765 28,765 - 28,765 - 28,765	- - - - - - - - - - - - - 772,288 772,288	- 1,252 21,906 1,800 2,578 4,378 146,437 166,437 - 28,765 28,765 - 28,765 772,288 801,053	9,601 1,068
				39,059
				1,900 2,756
				4,656

				137,226
				137,226 -
				46,131
				46,131 -
				46,131
				726,157
				772,288

Page 16