REGTSTERED COMPANY NUMBER: 5902240 (England and Wales) REGISTERED CHARITY NUMBER: 1115964 ort of the Trustees and Unaudited Financial Statenienls For The Year Endin for TTust o 31 March 2024 Wat¢rb¢r W¢lfar¢ Soci¢ rntin as Thc WatcrbcT Trnst
Waterber Welfare Socie Trust o eratin as The Waterber Tt Contents of the Financial Statements for the Year Endin 31 March 2024 Page Chairn]an's Report 2to3 Report of the Trustees 4t07 Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 12to 19 Detailed Statement of Financial Activities 20
Waterber Welfare Soci Trust o eratin as The Waterber Trust -Improving the welfare of the children of the Waterberg in heolth, education and their environment Chairn]an's Re ort for the Year Endin 31 March 2024 For the last ten years, the WalerbeTg Welfare Society Trusi has been operating under its new and broader remit as The Waterberg Trust (TWT) supporting welfare initiatives across the Waterberg, uplifting the people and iheir environment. Quarterly reports from Sisler Grace and Dr Peter Farrant on behalf of TWT detail the social 'elfare of the less prii'ileged of the Waterberg. They give a mcasurc of what TWT is sccking to address and thcy ale incrcasingly alarn]ing. Major conccrns includc increasing substancc abusc, vagrancy, absenteeism from school and general poor behaviour. The academic perfonnance of the local schools is deteriorating because they are underfunded and teacher N'acancies are often either poorly filled or remain unfilled. However, there are encouraging factors also with some teachers providin extra classes to help children catch up and prepare better for their exams, and some supporting afteT school activities, with .%port being increasingly encouraged. Twf initiatives include conserving the environment and helping the pooresl and all the young people of the Waterberg to achieve their potential by encouraging them to stay in education. This inTrolves basic and simple initiatives. By providing reuseable washable sanitary wear (Dignity Dreams), TWT has again met its priority this year by enabling all the adolescent girls of the Waterberg (about 400) to attend School for all of every month for the five years of their secondary education. As a rcsult. far fcwcr girls drop out of ¢ducation bccausc thcy no longcr fall bchind through missing school. Twf pays the salary of Sister Grace (c£15.500 depending on the exchange rate) out of raised income. Her work involves providing the first line of primary care for the medical. mental and general welfare needs of the school children of the Waterberg. She manages the distribution of the Dignity Dreams packs and instructing the girls in how to use them, when she explains also the sex education leaflet that is an important part of the package. Through dedicated teaching sessions, she instructs the pupils in human reproduction and sex education and the use and availability of contraception methods. As a direct consequence, the numbers of teenage pregnancies have been reduced consistently each year. Sister Grace supports the teenage murns with baby care instruction, guidance and baby essentials where they are not available. A150, she champions important initiatives such as the school vegetable gardens that the children cultivate, and helping the children to remain IT]Otivated to study and to choose the right subjects that will support their career choices. In addition, she suptM)rts the health of the weakest in the community and distributes food parcels with the local "Acts of Mercy" initiative of the local St John's Church to those who are deStite. In South Africa, you cannot go to school if you do not have 8 uniform. which is something that the poorest families in the community cannot afford. So TWT helps lo fund the provision of school unifomls and shoes so that every child in th¢ Waterberg can go to school. TWF provides scholarships so that the more able can continue inlo further education and not be held back by the poverty of their family circumstances. For example, Elton Chitandra is a deserving and able student from the Waterberg who is an orphan living with his aunt. TWT awarded Elton a scholarship for his university tuition fees for three years. He is now in the third year of his Computcr Softwarc dcgrcc at a local univcrsity. Importantly, TWT also conserves tbe envirorllnent of the Walerberg. Over many years, TWT bas contributed much to help the rangFers protect the Rhinos of the Waterberg from poachcTS by fundingF caineras and road gyates. As a conscqucnce, the Watcrberg bas lost very few Rhino to poachers these last few years, which is sadly in contrast lo other areas of South Arica. This year, TWT has made another large donation to the Save the Waterberg Rhino initiative that has changed its name to the Waterberg Landscape Alliance (IVLA) charity to reflect its broader conservation remit that is enabled by its focus on saving the endangered Waterberg rhino. TWT sends school childr¢n to Ihc Lapalala Wildcrncss School so that the young p¢ople can learn about Ihcir precious environment amongst which they live and the importance of conserving the habitat and diversity of species. Educating d]e young in such important matters also results in the parents becoming much more aware. Twf pioneered a new circular cycle route from Cambridge across the counties of Cambridgeshire and Bedfordshire for its annual sponsored cycle ride that was much enjoyed by an ever increasing field of riders. Circa £13,794 was raised, beating the £ l 0,000 targ¢t. Total Funds received by Twf for the financial year ending March 2024 were: £48.087 (2023. £53,630) Total funds outgoing from TWT for the year were £39.687 (2023: £52,257} Page 2
Waterber WelfaTe Socie TTUSt o eratin as The Waterber Trust Chairman'5 Re ort for the Year Endin 31 March 2024 •ff lTraterberg Landscape Alliance/Save The Il'aterberg Rhino £20,000 Donations (£20,000) (2023 - £30,2(K)) •[ Northern Education Trust - Sister Grace (Sehool Nurse) £12.503 Salary June 2023 to May 2024 (2023- £15,071) •0 Northern Education Trust - Elton Chitandra £2.454 Tuition fees (2023 £0) •[ Dignitv Dreams {addres5ing period poverty, keeping girls in education) (Part payment previously paid and a key sponsor's fund being paid directly to thc Dignity Drcanis on bchalf of Twr) (2023 - £3,500) £0 Total costs for the y¢ar w¢r¢ £4,730 (£3,486 - 2023) of which £2.777 was paid lo Th¢ Trust Partnership. £1.140 to Dunklcy's for thcir financial advicc, and £610 for bank and JusiGiving fccs and wcbsitc costs. Whilc Ihcrc is still work to b¢ donc in cnhancing Ihc conspicuity of thc Trust in thc Watcrbcrg, it has b¢cn tli¢ Icad supporter of some important projects to do with healih, education and the environment. TTP have continued to provid¢ massiv¢ support both administratively and in consultation. which is much appr¢¢iat¢d. Barry Burles Chairnian June 2024 Page 3
Waterber Welfare Socie TTUSt o ratin as The Waterber Trust ort of the Trustees for the Year Endin 31 March 2024 The trustees who are also directors of the charity for the purposes of ihe Companies Act 2006, Present their report with the f1nancial slalemenls of the charity for the Year Ending 31 March 2024. The financial slalements have been prepared in accordance with the accounting policies sel out on pages eleven to thirteen of the attached accollnrs and comply with the charity's trust deed, the Charities Act 2011, regulations applicable to that Act, and Accounting and Rq)orling by Charities-. Statement of Recommended Practice applicable to charities preparing their accounts in accordance Th'ith the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), etTectie from accounting periods commencing I st January 2019 or later. REFERENCE AND ADMINISTRATIVE DET AILS Registered Companv uMber 5902240 (England and Wale5) Registered Charity number 1115964 Registered office 6 Trull Farm Buildings Tctbury Glouccstcrshirc GL8 8SQ Trustees Mrs J E IVhitbr¢ad Mrs W Loudon-Barnaart Mr B W Burles Mrs E M Franklin Mr W Onne Mrs K Lane Chair Independent Examiners Dunkley's Woodlands Grange Woodlands Lane Bradley Stoke Bristol, BS32 4JY Solicitors Huntcrs 9 New Square Lincoln's Inn London WC2A 3QN Bankers CAF Bank 25 Kings Hill Avenue Kings Hill, West Malling, Kent ME19 4JQ Investment Managers M & G Securities Laurence Pountney Hill London EC4R OHH Administrators The Trust Partnership 6 Trull Fann Buildings Tetbury Gloucestershire GL8 8SQ Page 4
Waterber Welfare Socie TTUSt o eratin a5 The Waterbe Tt ort of the Trustees for the Year Endin 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goN'erning docun]enl. Memorandum and Articles of Association, and constitutes a company, by guarantee, as defined by the Companies Act 1985. The Charity changed its operating name to The Waterberg Trust on 13.03.2015. Key Management Personnel The trustees consider that they cornprise the key management of the charity in chaTge of direcling and controlling, running and operating the charity on a day to day basis. The trustees receii'e no remuneration for their duties but may claiin Teimbursement of expenses. Recruitment and appointment of new trustees The charity has six trustees who meet three tiines every year. The identification of potential T]ew trustees is carried out by the board, the aim being to appoint those '1th the appropriate expertise and experience for the charity's WOTk. On agreeing to become a truslee of the charity. they are thoroughly briefed by their co-truslees on the history of the trust, the day-to- day managernent, the responsibilities of the trustees, the current objectives and future plans. The trustees aTe also cncouragcd to altcnd any courscs. Organisational structure Thc trustccs aTC uItiTnatcly rcsponsiblc for thc policics. activiti¢s and asscts of Ihc charity. Thcy mccl thrcc timcs cvcry year to revi¢w developments wilh regard lo the charity, its grant giving activities and lo make any iinportanl decisions. When n¢c¢ssary, th¢ irustees seek advice and support from the charity's professional advisers. Risk management In line with the requirement for trustees lo undertake a risk assessment exercise and report on the same in their annual report, the trustees have looked at the risks. The trustees have ideniified five main areas where risks may occur and considered how they might mitigate against them.. Governance and management risk looks at the risk the charity might suffer from the lack of direction, the skills and Iraining of the trustees and the good use of its funds. Operational risk looks at the risk inherent in the charity's activities including supporting unsuitable appeals from charities, continuity of staff, lack of a disaster recoverj, policy, etc. Financi41 risks include those arising a5 a result of poor budgetary control. inappropriate spending. poor accounting, inappropriate investment policies. etc. The Charities fanCeS are reviewed by trustees at the trustee meetings to consider inveslments and funds available for grant making. Reputational risk looks at th¢ possibl¢ damag¢ to thc charity's rcputation, through association with unsuitablc charitics, or with inappropriat¢ activity- Lgiv$, regulations, external and environment21 risk looks at the effects olgovernment policies and the consequences of non-compliance with the laws and regulations. Having assessed the major risks to which ihe charity is exposed, in particular to its finances, the tn]stees believe that by monitoring reserve levels, by ensuring that controls exisl over ihe key fmancial systems, and by examining the operational and business risks faced by the charity. they have estsblished effective systems to mitigate those risks. 0EcTIVEs AND ACTIVITIES Charitable objectives The Trust's charitable objectiTres are= Ihe furtherance of chaTilable purposes which, in the Republic of South Africa. promote the welfare of those infected with HIV l Aids and of ihose dependent on them and the ividows, children and other dependants of persons who have died from the consequences ol such infection, or which promote education and oiher work aimed to prevent the spread of HIV / Aids. to support organisations or individuals promoting the welfare of the people of the Waterberg and; general charitable purposes in the Waterberg. b} Page 5
Waterber Welfare Socie TTUSt o eratin a5 The Waterbe Tt ort of the Trustees for the Year Endin 31 March 2024 Charitable activities The Waterberg Trust supports individuals and organisalions in the Waterberg SA via a range of healthcare, education, welfare, conservation and general charitable projects: in order to uplift the people and place of the Waterberg. Public benefit The Iruslees confinn thai they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trusl's aims and objectives and in planning future activities and setting the grant making policy for the year. The Trnstees are satisfied that all grants tnade during the year are for the benefit of the public and the benefits of each and every grant are clearly identifiable. ACHIEVEMENT AND PERFORMANCE Summar), of achievements The Chairnian's Report summarises the Tnain achievements in the year. Donations Thc trustccs would likc to thank most warnily all thos¢ who support us financially with donations and grants. Investment performance During March 2012 the irust¢¢s inv¢sied £5,600 in th¢ M&G Inv¢stm¢nls. Charibond Chariti¢s Fix¢d Inter¢st Common Inv¢sim¢nt Fund. The value of this inv¢stm¢nt at 31" March 2024 was £7.488 (2023 £7,157) an in¢r¢as¢ of £1,888 on th¢ original inv¢stm¢nt. FINANCIAL REVIEW Financial Summary Income for the year was £48,087 (2023 £53,630). Expenditure for the year was £39,356 (2023 £52.632). As a result, for Ihe year ended 31, March 2024, there was a benefil of £8,731 (2023 benefit £998). Reserves Policy The trnstees will maintain adequate reserves to cover grant commitments and budgeted costs for the current financial year and maintain an appropriate budget for years to cover longer term grant commitments. The investments held by M&G Investments as at 31" Marcb 2024 are treated as a reserve by The Waterberg Tnt, to cover one years, Worth of operating cost of £4,730. Reserves available at 31 ' March 2024 are £62.102. Going Conccrn Thc Trust¢¢s of thc Charity h2v¢ conclud¢d that thcrc arc no mat¢rial unccrtaintics rclatcd to cvcnts or conditions that may cast significant doubt on thc ability of thc Charity to continu¢ as a going conccrn. Givcn th¢ additional chall¢ng¢s of Covid-19 in 2020 and 2021 and th¢ Cost of Living Crisis in 2022 and 2023. thc Tn(¢¢$ arc of ihc opinion that th¢ Charity will still havc sufficicnt rcsourccs lo mcct its liabilitics as they fall duc. FUTURE DEVELOPMENTS We will continue to maintain and develop relationships with funders in the UK in the coming year. Page 6
Watcrber Welfare Societ TnLSt o ratin as The Watcrbcr Trust ort of thc Trustecs for the Year Endin 31 March 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees (who are also the directors of Waierberg Welfare Society Trust for the purposes of company law) are responsible for preparing the trnstees, report and accounts in accordance '1th applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a trne and fair view of the state of affairs of the charitable company and of the income and expendithre of the charitable company for that period. In preparing these financial statements, the trn5tees are required to= select suitable accounting policies and then apply them con%istently- ob5eTve the meihods and principles in Accountinu and Reporting by Charities.. Statement of Recommended Practice 4ippIicdble to charities preparing their accounts in accordance with the Financial Reporting Standard appliciible in the UK and Republic of Ireland (FRS 102). make judgements and estiTnates thal are reasoT]able and prudent- state whethcr applicablc United Kingdom Accounting Standards have bccn followed, subjcct to any material departures disc105ed and explained in the accounts- and prepare the accounts on the going concern basis unless il is inappropriate to presume that the charity will continue in operation. The trustees ar¢ responsible for keeping proper accounting records which disclose with reasonable accuracy at any tim¢ the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, applicable Charity {Accounts and Reports) Regulations and the provisions of the charity's trust deed. They are also responsible for safeguarding the assels of the charitable company and hence for taking reasonable steps for the preveniion and detection of fraud and other irregularities. In so far as the trnslees are aware.. there is no relevant audit infomiation of which the charitable company's examiner5 are unaware; and the trustees have taken all step5 that they ought to have taken to make themselves aware of any relevant audit information and io establish that the examiners are aware of that information. Independent Examiners Tl)e Independent Examiners, Dunkley's, will be proposed for re-appointment at the forthcoming Annual General Meeting. ON BEHALF OF THE BOARD: Barry Burl (Nov 7, 2024 12:18 GMT) Barry Burles Tn]st¢e - Chair Date.. Page 7
Inde endent Examiner's Re Il'aterber Welfare Socie ort to the Trustees of Trust o eratin as The Ivaterber Trust Independent examiner's report to the trustees of Waterberg Welfare Soeiety Trust operating as The Waterberg Trust {'the Company,) I report lo the charity trnstees on my examination of the accounts of the Company for the period l April 2023 to 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for Ihe preparation of the accounts in accordance with the requirements of ihe Companies Act 2006 ('the 2006 Act'}. Having satisfied myself that the accounts of the c.ompany are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 201 l ACV). IT] carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5} (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I Confi that no matters have come to my attention in connection with the examination giving rne cause to believe- accounting records wcrc not kept in respect of thc Company as requircd by section 386 of thc 2006 thc accounts do not accord with thos¢ TccoTds- OT thc accounis do not comply with thc accounting rcquircmcnts of scction 396 of thc 2006 Act othcr than any requirenicnt that the accounts give a true and f2ir view which is not a mattcT considcrcd as part of an independeni examination. or the accounts have not b¢¢n pr¢par¢d in a¢cordan¢¢ with th¢ m¢ihods and principles of the Stat¢ment of R¢¢omm¢nd¢d Pra¢lic¢ lor accounting and reporting by chariii¢s (applicabl¢ to ¢liariti¢s preparing their accounts in accordance with the Financial Reporting Sthndard 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 underslanding of the accounts to be reached. Matthcw Dobbins FCA Dunklcy's Woodlands Grangc Woodlands Lanc Bradlcy Stokc Bristol BS32 4JY Date.. 0711112024 Page 8
Waterber Welfare Socie TTUSt o eratin as The Waterber Trust Statement of Financial Activities for the Year Endin 31 March 2024 31.03.24 31.03.23 Total Total funds funds Llnrestrietcd funds Restrictcd funds Notes INCOME Donations Income from other activities Interest 7.926 13,794 63 26.304 34.230 13.794 63 45,484 8,064 82 Total income 21,783 26.304 48,087 53,630 EXPENDITURE Charitable aCtitieS Grant Giving 7,184 32.503 39.687 52,257 (Gains)ILosses on investment assets {331) (331) 375 Total expenditure 6,853 32,503 39,356 52,632 Net incomel(eipenditure) 14.930 (6,199) 8,731 998 Transfer between funds 14 (2.365) 2.365 RECONCILIATION OF FUNDS Total funds brought fonvard 49,537 6,587 56,124 55,126 TOTAL FUNDS CARRIED FORWARD 62,102 2,753 64,855 56,124 Page 9
Waterber Welfare Socie TTUSt o eratin as The Waterber Trust Com arative Statement of Financial Activities for the Year Endin 31 March 2023 31.03.23 Total funds LTnrestricted funds Restricted funds Notes TNCOME Donations Income from other activities Intcrcsl 4,951 8,064 82 40,533 16,823 8,064 82 Total income 13,097 40,533 53,630 EXPENDITURE Charitable activities Grant Giving 3.486 48,771 52,257 Losses (Gains) on investment assets 375 375 Total expenditure 3.861 48,771 52,632 Net incomel(expenditure) 9,236 8,238 998 Transfer behveen funds 14 4,198 (4,198) RECONCILIATION OF FUNDS Total funds brought forn'ard 36.103 19,023 55,126 TOTAL FUNDS CARRtED FORWARD 49,537 6.587 56,124 Page 10
Waterber Welfare Socie Balance Sheet At 31 March 2024 TTUSt o eratin as The Waterber Trust Co. No. 5902240 31.03.24 Total nds 31.03.23 Total Funds Unrestricted funds Restricted funds Note5 FIXED ASSETS Invcstmcnts 7.488 7.488 7,157 CURRENT ASSETS Debiors Cash at bank 420 59.181 20,000 3,892 20,420 63,073 200 84,413 59.601 23,892 83,493 84,613 CREDITORS Amounts falling due within one year 12 (4,987} (21,139) (26,126) (35,fv16) NET CURRENT ASSETS 54.614 2.753 57,367 48,967 TOTAL ASSETS LESS CURRENT LIABILITIES 62,102 2,753 64,855 56,124 NET ASSETS 62.102 2,753 64,855 56,124 FUNDS 13 Unrestricted funds 62,102 62,102 49,537 Restricted ndS 2,753 2,753 6,587 TOTAL FUNDS 62.102 2.753 64.855 56,124 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obLgin an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trnstees acknowledge their responsibilities for (a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (bl pr¢paring financial slal¢m¢nls 'hIch give a lrn¢ and fair view of the stat¢ of affairs of th¢ charitabl¢ company as at the end of each financial year and of ils surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which other'Ise comply with the requirements of the c.ompanies Act 2006 relating to financial statements. so far as applicable to the charitable company. These fanCIal statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trnstees and authorised for issue on 03.10. 2024, and were signed on its behalf by: 567kk Barry Burle (Nov 7, 2024 12-18 GMT) Barry Burles Trustee- Chair Pagell
Waterber Welfare Socie TTUSt o eratin a5 The Waterbe Tt Notes to the Financial Statements for the Year Endin 31 March 2024 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below. Basis of preparation These accounts have been prepared for ihe year to 31 March 2024. The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been Prepared in accordance with the Charities SORP (FRS 102) '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 l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial slalements have been prepared under the historical cost convention, with the exceplion of investments which are included at market value. The accounts arc prcscntcd in sterling and arc roundcd lo thc ncarcst pound. Critical accounting estimates and areas of judgement Prcparntion of the financial statcmcnts r¢quir¢s the trustees to make significant judgcmcnls and cstiinatcs. The Irusl¢es do not consider ihal there ar¢ any sourc¢s of ¢siimalion unc¢rtaintyi or any key judg¢n)¢nts mad¢ in th¢ pr¢paration of th¢ financial statemen. Assessment of going ¢on¢ern The Iruslces have assessed whether the use of the going concern assumption is appropriate in preparing these financial slalements. The trustees have made this assessment in respeci 10 a period of one year from the date of approval of d)ese financial statements. The Trnstees of the Charity have concluded that there are no material uncertainties related to events OT conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. Given the additional challenges of Covid-19 and the Cost of Living Crisis in 2022 and 2023. the Trustees are of the opinion that the Charity will still have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed above. iv) Income recognition Income is recognised in the pertod in Th'hich the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received. Incom¢ is dcf¢rrcd only wh¢n thc group or charity has to fulfil conditions b¢forc bccoming cntitlcd to it or wh¢rc the donor has spccificd that thc incomc is to bc cxpcndcd in a futurc accounting pcriod. Income comprises donations, investtnent income and interest receivable. Donations are recognised when the charity has confinnation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where ihe receipt is considered probable. In the event that a donation is subjeci to conditions that require a level of perfonnance before the charity is entitled to the funds, the income is deterred and not recognised until either ihose condiiions are llY met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Dividends are recognised at the earlier of declaration and notification of dividends or when ihe dividend is received. Interest on funds held on deposit is included 'hen receii'able and the amount can be measured reliably by the charity; Ihis is nonnally upon notification ot.the interesl paid or payable by the bank. The notes forni pan of tbese fmancial statements Page 12
Waterber Welfare Socie TTUSt o ratin as The Waterber Trust Notes to the Financial StatemeT]ts - continued for the Year Endin 31 March 2024 Eipenditure reeognition Liabilitics are recognised as expenditure as soon as there is a legal or constrnctive obligation committing the group or charity to make a payment to a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accnlals basis and includes attributable VAT which cannot be recovered. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated to the applicable expenditure heading. The cost of charitable activities comprises grants payable to nurses, the cost of the TelephoT]e Befriending Service and allocated support cost5. Grants payable are included in the statement of financial activities when approved and when the intended recipient has eiiher received the funds or been infornied of the decision to make ihe grant and has satisfied all related conditions VA) Allocation of support and governance eosts Support costs rcprcscnt indirccl charitablc expcnditurc. In ordcr to carry out the primary purposes of thc charity it is ncccssary to providc support in th¢ forni of financial and gov¢Tnanc¢ PToc¢dur¢s, provision of offic¢ scrviccs and cquipmcnt and a suitablc working cnvironmcnt. Governanc¢ costs Compris¢ all costs r¢laling to the public accountabiliry of the charity and its compliance with regulation and good practi¢e. Th¢se Costs include cosis relating io lh¢ indep¢ndenl ¢xaminalion of th¢ f1nancial stat¢m¢nts and l¢gal f¢es. Support costs and governance cosis are allocated to the chariry's single charitable activity- vil} Investments Listed investments are a forni of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as al the balance sheet date using the closing quoted markei price. The charity does not acquire put options, derivatives or other complex financial instruments. Realised gains (or losse5) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is acquired subsequent to the rSt day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in M,hich they arise. Othcr Inv¢stmcnts arc includcd at cost, which is considcrcd to bc approxiinatc to their markct valuc. viii) Debtors Debtors are recognised at their settletnent avnount. les5 any provision for non-recoverability. They have been discounted to the present value of the future cash receipt where such di5COUVlting is vnaterial. Cash at bank and in hand Cash at bank and in hand represents such accounts and instnlments that are available on demand or have a inaturity of less than three months from the date of acquisition. Creditors and provisions Creditors and provisions are recognised when ihere is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and proN'isions are recognised at the amount the charity anticipates it .111 pay to settle the debt. They have been discounted to the present value of the future cash payment ivhere such discounting is material. The notes fonn part of tbese fmancial statements Page 13
Waterber Welfare Socie TTUSt o ratin as The Waterber Trust Notes to the Financial StatemeT]ts - continued for the Year Endin 31 March 2024 xi) Fund accounting Restricted funds are monies raised for, and their use restricted to, a specific purpose. or donations subject to donor- imposed conditions Unrestricted funds represent those monies ihal are freely available for application towards achieving any charitable purpose that fall within the charity's charitable objects. Designated funds are set aside as part of the unrestricted ndS to be used for a particular tUre project OT commitment. xi1} Statement of cash flows The financial staternents do not include a statement of cash flows because ihe charity is exempt from the requirement to prepare such a statement under the Charities SORP FRS 102 Update Bulletins l and 2. xiii) Taxation The charity is exempt from corporation tax on its charitable activities. xiv) Foreign Currencies Asscts and liabilili¢s in forcign currcnci¢s ar¢ translatcd into st¢Tling at thc rat¢s of ¢xchang¢ ruling at th¢ balancc sh¢¢t dat¢. Transactions in forcign curtcncics arc translatcd into stCTling at th¢ Tatc of cxchangc ruling at thc datc of transaction. Exchangc diffcrcnccs arc tak¢n into account in arriving at th¢ opcrating rcsult. DONATIONS Year Ended 31.03.24 Year Ended 31.03.23 Other Donations Other Donations Restricted Dignity Dreams The Van Dedem Foundalion Trust Restricted School Nurse/ Counsellor Other Donations Restricted The Kilroot Foundation Gift aid 7,706 30 6,274 20,000 220 4,751 4,375 6,158 30,000 200 34,230 45,484 INCOME FROM OTHER ACTIVITIES Year End¢d 31.03.24 Year End¢d 31.03.23 Fundraising cvcnt incomc - Sponsor¢d Bik¢ Rid¢ 13,794 $,064 13.794 8,064 The notes fonn part of these fmancial statements Page 14
Waterber Welfare Socie TTUSt o eratin as The Waterbe Tt Notes to the Financial Statements - continued for the Year Endin 31 March 2024 CHARITABLE ACTIVITIES COSTS Year Ended 31.03.24 Year Ended 31.03.23 Grants lo institutions Support costs Governance costs Note 5 Note 6 Note 7 34.957 3,574 1,156 48,771 3,380 106 39,687 52,257 GRANTS PAYABLE Year Ended 31.03.24 Year Ended 31.03.23 Grants to institutions 34,957 48,771 The total grants accrued and paid to institutions during th¢ year w¢r¢ as follows: 31.03.24 31.03.23 Dignity Dreams (Restricted) Northern Education Trust (Restricted) June 23 to May 24 Northern Education Trust (Lnrestricted) Waterberg Landscape Alliance/Save ihe Waterberg Rhino (Restricted) 3,500 15,071 12,503 2,454 20.000 30,200 34,957 48,771 SUPPORT COSTS 31.03.24 31.03.23 Other resources expended Management The notes fonn part of ihese financial statements Page 15
Waterber Welfare Socie TTUSt o eratin as The Waterbe Tt Notes to the Financial Statements - continued for the Year Endin 31 March 2024 SUPPORT COSTS (cont.) Costs. included in the above. are as follows: Year Ended 31.03.24 Year Ended 31.03.23 Other resources Other resources expended expended Bank charges Printing, Postage and Stationery Commission Administration Website 238 109 216 2,855 156 292 130 180 2,647 131 3,574 3,380 GOVERNANCE COSTS 31.03.24 31.03.23 Examiners, remuneration Compani¢5 Housc 1,140 16 90 16 1,156 106 NET tNCOMEI(EXPENDITURE) N¢1 r¢sour¢es are stal¢d afi¢r ¢hargingl(crediting)= 31.03.24 31.03.23 Examiners, remuneration 1,140 90 TRUSTEES, REMUIYERATION AND BENEFITS There were no trustees, remunerdtion or otber benefjls for the Year Ending 31 March 2024 nor for the year ended 31 March 2023. Staff Costs and remuneration of key management personnel Th¢ ¢harity ¢mploy¢d no m¢mbcrs of staff during thc pcriod. Thc administration and financial managcmcnt of thc of the charity is outsourced to The Trust Pattnership. The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and opernting the ehatity on a day to day basis. The truste¢s leceied no remuneration in LonneLtion with their duties. Trustees, Expense5 Trustees. expenses amounling to £nil were paid during the Year Ending 31 March 2024 {2023.' £Nil). The notes fonn part of ihese fmancial statements Page 16
Waterber Welfare Socie TTUSt o eratin a5 The Waterbe Tt Notes to the Financial Statements - continued for the Year Endin 31 March 2024 io. RELA TED PARTIES DISCLOSURES During the accounting year from l April 2023 to 31" March 2024 there were Trustees of the Waterberg Trust who were also Trustees or committee members of other Charities or Funds but did not benefit from Grants made by the Waierberg Trust. ii. FIXED ASSET INVESTMENTS Listed investments as at 31"March 2024 MARKET VALUE Ai 31 MaTch 2023 Additions Rci'aluations 7,157 331 At 31 March 2024 NET BOOK VALUE At 31 March 2024 7.488 Ai 31 March 2023 7.157 Thcrc w¢r¢ no inv¢stm¢nt as[5 outsid¢ th¢ UK. Th¢ invcstmcnts hcld as at 31 "' March 2024 arc tr¢at¢d as a rcs¢rvc by Th¢ WatcrbcTg TTUSt, to covcr on¢ ycars, worth of operating cost. 12. CREDITORS: Amounts falling due within one vear 31.03.24 31.03.23 Grants payable Grants payable (Restricted) Waterberg Welfare Society, Food Parcels Grants payable (Restricted) STWR/WLA grant aCcnl Oiber creditors 1,113 1,139 20,000 3,874 1,113 1,139 30,000 3,394 26,126 35,646 The notes fonn part of ihese fmancial statements Page 17
Waterber Welfare Socie Trust o eratin as The Waterber Tn]st Notes to the Financial Statcmcnts - continued for the Year Endin 31 March 2024 13. MOVEMENT IN FUNDS Net movement in funds At 31.03.23 At 31.03.24 Unrestricted funds General fund Designated funds Sister Grace salary Food parcel distribution Kettner Grant 18,091 11,154 29,245 26,135 1,113 4,198 3.865 30,000 1,113 1,744 (2,454) Restricted funds Dignity Dream5 Sister Grace salary 2,723 3,864 30 (3,864) 2,753 TOTAL FUNDS 56,124 8,731 64,855 Incom¢ Expcnditur¢ Gains and (loss¢s) Fund Mov¢mcnt in Transfcrs funds Unrestricted funds General fund 21.783 (7,184} 331 (3.776) Designated funds Sister Grace salary Food parc¢l distribution Kettner Grant 3.865 3,865 (2,454} (2,454) Restrieted funds Dignity Dreams Sister Grace salary 30 6.274 30 (3,864) (12,503} 2,365 TOTAL FUNDS 28,087 (19.687) 331 8,731 The notes forni part of these fUkclaI statements Page 18
Waterber Welfare Societ Trust o ratin as The Waterber Trust Notes to the Financial Statcmcnts - continued for thc Ycar Endin 31 Mdreh 2024 14. ANALYSIS OF NET ASSETS BETIVEEN FUNDS 2024 Fixcd Assets Net Assets Total Unrestricted funds General fund Designated funds Sister Grace salary Food parcel distribution Kettner Grant 7,488 21,757 29,245 30,000 1,113 1,744 30,000 1,113 1,744 Restricted funds Dignity Dreams 2,753 2,753 TOTAL FUNDS 7,488 57,367 64,855 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS COMPARATIVE ANALYSIS OF NET ASSETS BETII'EEN FUNDS 2023 Fixed Assets Net Asset5 Total Unrestricted funds Gcncral fund Designated funds Sister Grace salary Food parcel distribution Keitner Grant 7,157 10,934 18,091 26,135 26,135 4,198 4,198 Restricted funds Dignity Dreams Sister Grace salary Kettner Grant 2,723 3,864 2,723 3,864 TOTAL FUNDS 7,157 48,967 56,124 Restricted funds Dignity Dreams- Funds received specifically to provide Dignity Dreams packs. Designated funds- In 2020 Trustees designated £45.000 to fund the salary of Sister Grace through to 2023. Balance increased to £30,(K)O io cover two years of salary. Food Parcels purchase and distribution to the mosl needy iviihin the Waterberg by Sister Grace. Kettner grant giving fid historically transfeed to designaled from restricted as funds not used up. The note5 form part of these financial statements Page 19
Waterber Welfare Socie Trust o ratin as The Waterber Trusl Notes to the Financial Statcmcnts - continued for thc Year Endin 31 Mdreh 2024 YeaT Ended 31.03.24 Year Ended 31.03.23 INCOME Donations Bike Ride Donations Gift aidlreclaimed tax Interest 34,010 13,794 220 63 45.284 8,064 200 82 48,087 53,630 Total income 48.087 53,630 EXPENDITURE Grants to institutions 34,957 48,771 Governance costs Examin¢rs' rcmuncration Companics Housc 1,140 16 90 16 36,113 48,877 Support costs anagement Bank charges Printing, Postage and Stationery Commission Administration W¢bsil¢ 238 109 216 2,855 156 292 130 180 2,647 131 3,574 3,380 Realised (gains)Ilosses (331) 375 Total expenditure 39,356 52,632 Net income 8,731 998 This page does not fonn part of the slatutory financial statements Page 20