REGISTERED COMPANY NUMBER: 5902240 (England and Wale5) REGISTERED CHARITY NUMBER: 1115964 ort of the Trustee5 and Unaudited Financial Statements For The Year Endin for Trust o 31 March 2025 Waterber Welfare Socie eratin a5 The Waterbe Trust
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Contents of the Financial Statements for the Year Endin 31 March 2025 Page Chainnan's Report 2to3 Report of the Trustees 4t07 Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 12to19 Detailed Statement of Financial Activities 20
Waterber Welfare Socie Trust o eratin as The Waterbe Trust Improving the lives ofthe people of the Walerberg in healih, educalion and ihe enTrironnient Chairn]an's Re ort for the Year Endin 31 March 2025 Introduction- For the last eleven years, the The Waterberg Trust (TW'T) has been supporting local health, education and environmental initiatives across the Waterberg. upliftinu the people and their environment. TW'T initiatives include conserving the environnient and helping the poorest and all the voung people of the Waterberg to achieve their potential by encouraging them to stay in education. The academic performance of the local schools is deterioratiT] because the}, are underfunded and teacher vacancies are often either poorl. filled or remain unfilled. Hom'ever. there are encouraging factors also '1th some teachers providing exira classes to help children catch up and prepare better for their exams, and some supporting after school activities, with sport being increasingly encouraged. Quarterly reports from Sister Grace and Dr Peter Farrani on behalf of TWT detail the social welfare of the less privileged of the Waterberg. They give a measure of Vs'hat Twf is seeking to address and the}, are increasingly alarn]ing. Major concerns include increasing substance abuse. vagrdncy.. absenteeism from school and gei)eral poor behaviour. TWT helps food and cloihing parcels to be given regularly lo those in need '1th1n the Waterberg such as migrants, teenage mums and large families. This year, the Total Funds received by TWT for the financial year ending March 2025 were: £59,684 (2024; £48,087). And the Total Funds outgoing from TWT for the year were £51,059 {2024: £)9,687). Health: TWT has again met its priority this year by enabling all the adolescent girls of the Waterber? {about 420) to attend school for all of every month for the five vears of their secondary educaiion by providing reuseable washable sanitary wear (Dignity Dreams). As a result, far fewer girls drop out of education because they no longer fall behind through missing school. As a direct consequence of many years of this initiative, increasingly more girls are nom, able to compete with the boys on equal tenns for jobs and university places. Sister Grace meets the first line of primary care lor the medical, vnental and general welfare needs of the school children of the Waterberg. TWT pays the salary of Sister Grace (c£15.000 depending on the exchange rate) out of raised income. She manages the distribution of the Dignity Dreams packs and instructs the girls in hoiv 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 consisiently each year from over 200 10 less than 20, and in one year O. Sister Grace supports the teenage mums with bab! care insiruction. ouidance aTJd donates baby esseiitials 'ber¢ they are not available. Also, she champions importani iniliatives such as the school vegethble gardens ihat the children cultivate, and she helps the children to remain motivated to study and to choose ihe righi subjects ihat will support their career choices. IT) addition, she supports the health of the weakest in the community and with the "Acts of Mercy" initiative of the local St John's Church, she distributes food parcels to those who are destitute. Education- In South Africa, you cannot go to school if you do not have a uniform, which is something that the poorest families in the community cannot afford. So TWT has been helping to fund the provision of school uniforms and shoes so that every child in the Waterberg can go to school. TWT provides scholarships so that ihe more able can conlinue into further education and not be held back by the poverty of their family circumstances. For example: TWT has been supporting a deserving and able student from the Waterberg called Elton Chitandra with a scholarship for his university tuitiOTJ fees for three years. He has now finished hi5 Computer Software degree at a local university, at which he excelled. He is considering a further degree whist finding a job. Environment.. TWT sends 62 School children to the Lapalala Wilderne55 School for one week full board 50 that the young people can have an immersive experience and experientiallv learn about the precious environment amongst which they live aiid the importance of conserving the habitat and diversity of species. Educating the young in such important matters also results in the parents becoming much more aware. Page 2
Waterber Welfare Socie Trust o ratin as The Waterber Trust Chatman's Re ort for the Year Endin 31 March 2025 Importantly.. TWT also conserves the environmeni of the Waterberg. Over many years, Twf has contributed much to help the rangers protect the rhinos of the Waterberg from poachers by funding cameras and road gates. As a consequence, the Waterberg has lost very few rhinos to poachers these last fe. Vears: which is sadly in contrast to other area5 of South Africa. This year, TWT has made another large donation to the Save ihe Waterberg Rhino initiative that is now called the Waterberg Landscape Alliance (WLA) charity. The new name reflects Its broader conservation remit that is enabled by its focus on saving the endaiigered Waterberg rhino. Fund Raisin Initiatives: Essentially Twf raises funds ihrough an annual sponsored cycle ride and from participating in the Big Give week each year . TWT has developed for its annual sponsored cycle ride new circular cycle routes from Cambridge across the counties of Cambridgeshire and Bedfordshire. The routes are much enjoyed by an ever In¢a$Jng field of riders. This year, circa £12,425 was raised, beating the £ l 0.000 target. Waterberg Landscape Alliancelsave The Waterberg Rhino £20,000 Donations (£20,000) {2024 - £20,000) Northern Education Trust- Sister Grace (School IYur5e) £12,943 Salary June 2024 to May 2025 (2024- £12,503) Northern Education Trust- Elton Chitandra £3,018 Tuition fees (2024 - £2,454) Dignity Dreams (addressing period poverty, keeping girls in edueation) (Part payment previously paid and a key sponsor's fund being paid directly to the Dignity Dreams on behalf of Twr) (2024- £3,500) £0 Total costs for the year were £6,598 {£4.730 - 2024) of which £4,764 was paid to The Trust Partnership, £900 to Dunkley's for their financial advice: and £934 for bank and JustGAving fees and website costs. There is still work to be done in enhancing the conspicuitv of the Trust in the Waterberg. It has been the lead supporter of some important projects to do with healih, educaiion and the environment. rrp have continued to provide massive support both administratively and in consultation, which is much appreciated. Barry Burles Chainnan June 2025 Page 3
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Re ort of the Trustees for the Year Endin 31 March 2025 The trustees who are also direciors olthe Charitv for the purposes of ihe Companies Act 2006, present their report with the financial statements of ihe charil! for ihe Year Ending J l March 2025. The financial statements have been prepared An accordance with the accounting policies set out on pages eleven to (hirteen of the attached accoui)ts and con)ply with the charity's trust deed, the Charities Act 201 l. regulations applicable to that ACL and Accounting and Reporting by Charities.. Statement of Recommended Praciice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). effective from accounting periods commencing 1st January 2019 or later. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 5902240 (England and Wales) Registered Charity number 1115964 Registered office 6 Trull Fami Buildings Tetbury Gloucestershire GL8 8SQ Truslees Mrs J E Whitbread Mrs W Loudon-Barnaart Mr B W Burles Mrs E M Franklin Mr W Ornie Mrs K Lane Mrs C Nias (from 13.06.25} Chair Independent Examiners Dunkley's Woodlands Grange Woodlands Lane Bradley Stoke Bristol, BS32 4JY Solicitors Hunters 9 New Square Lincoln's Inn London WC2A 3QN Bankers CAF Bank 25 Kings Hill Avenue Kings Hill, West Malling, Kent ME194JQ Inl'estment 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 Trust o eratinu as The Waterbe Trust Re ort of the Trustees for the Year Endin 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeument The charity is controlled by its governing document. Memordndum 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 comprise the key management of the charitv in charge of directing and controlling, running and operating the charity on a day to day basis. The trustees receive no remuneration for their duties but may claim reimbursement of expenses. Reeruitment and appointment of new trustees The charity has six trustees M,ho meet three times every. vear. The identification of potential new trustees is carried out b}, the board, the aim being to appoint those with the appropriate expertise and experience for the charitV'5 work. On agreeing to become a trustee of the charity, they are thoroughly briefed by their CtruSteeS on the history of the tru5L the day-to- day management, the responsibilities of the trustees, the current objectives and future plans. The trustees are also encouraged to attend any courses. Organisational slruclure The twsiees are ultimaiely responsible for the policies. activilies and assets of the charity. They meet three times every year to review developmenis '1th regard to the charity. its grant giving activities aiid to make any important decisions. When necessary,, the trustees seek advice and support from the ¢haritv's professional advisers. Risk managemenl In line with the requirement for trustees to undertake a risk assessment exercise and report on the same in their annual report, the trustees have looked al the risks. The Irustees have idenilfied five main areas where risks may occur and considered how they might mitigaie against them= Governance and management risk looks at the risk the charity might suffer from the lack of direction, the skills and training of the trustees and the good use of ils 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 recovery policy. etc. Financial risks include those arising as a result of poor budgetary control, inappropriate spending, poor accounting, inappropriate investment policie5, etc. The Charities finances are reviewed by trustee5 at the trustee Tneetings to consider investments and fund5 available for grant making. Reputational risk looks at the possible damage to the charity's reputation, throuJ association with unsuitable charities, or with inappropriate activity. Laws, regulations, external and environmenlal risk looks at the effects of government policies and the consequences of non-compliance with the laws and regulations. Having assessed the major risks to M'hich the charity is exposed. in particular to its finances, the trustees believe that by monitoring reserve levels, by ensuring that controls exist over the k.ey financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks. 0ECTIVEs AND ACTIVITIES Charitable objectives The Trust's charitable objectives are: the furtherance of charitable purposes which, in the Republic of South Africa, promote the welfare of those infected with HIV l Aids and of those dependent on them and the widows, children and other dependants of persons who have died from the consequences of such infection, or which promote education and other work aimed to prevent the spread of HIV l 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 Trust o eratinu as The Waterbe Trust Re ort of the Trustees for the Year Endin 31 March 2025 Charitable activities The Waterberg Trust supports individuals and organisations 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 trustees confirni that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing ihe Trust's aims and objeclives and in planning future activities and setting the grant making policy for the year. The Trustees are satisfied that all grants made during the year are for the benefit of the public and the benefits of each and every grant are clearly identifiable. ACHIEVEMENT AND PERFORMANCE Summary of achievements The Chairman s Report summarises the main achievements in the year. Donations The trustees would like to thank most wamily all those who support us financially with donations and grants. Investmeni performance During March 2012 the trustees invested £5,600 in the M&G Investments, Charibond Charities Fixed Interest Common Investment Fund. The value of this investment at 31" March 2025 was £7,663 (2024 £7,488) an increase of £2,063 on the original investment. FINANCIAL REVIEW Finaneial Summary Income for the year was £59.684 (2024 £48,087). Expenditure for the Vear was £50,884 (2024 £39,356). As a result, for the year ended 31" March 2025, there was a benefit of £8.800 (2024 benefit £8,731). Reserves Policy The trustees will maintain adequate reserves to cover grant commitments and budgeted costs for the current financial year and maintain an appropriate budget for future )'ears to cover longer terni grani commitments. The investments held by M&G Investments as at 31" March 2025 are treated as a reserve by The Waterberg Trust. to cover one }'ears worth of operating cost of £6,598. Reserves available at J I" March 2025 are £64,920. Going Concern The Trustees of the Charity have concluded that there are no material uncertaintie5 related to events or conditions that may cast significant doubt on the ability olthe Charity to continue as a going concern. Given the additional challenges of the Cost of Living Crisis: the Trustees are olthe opinion that the Charity will still have sufficient resource5 to meet its liabilities as they fall due. FUTURE DEVELOPMENTS We will continue to maintain and develop relationships with funders in the UK in the coming year. Page 6
Waterber Welfare Socie Trust o eratin a5 The Waterber Trust Re ort of the Trustees for the Year Endin 31 March 2025 STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees (who are also the direclors of Waterberg Welfare Society Trnst for the purposes of company law) are responsible for preparing the trus(ees' report and accounts in accordance with applicable law and United Kingdoin Accounting Standards (United KAngdom Generally Accepted Accouniing Practice). Company law requires the trustees to prepare financial slalements for each financial vear which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these fLnancial statements, the trustees are required to: select suiL2ble accounting policies and then apply them consistently- observe the methods and principles in Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- make judgements and e5timate5 that are reasonable and prudent" state whether applicable United Kingdom Accounting Standards have been followed, Subject to any material departures disclosed and explained in the accounts. and prepare the accounts on the going concern basis unles5 It is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of ihe Charithble company and io enable them to ensure ihat ihe financial StatelentS comply with the Companies Act 2006. the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the charily's trust deed. They are also responsible for safeguarding the assets of the charitable company and hence for thking reasonable steps for the prevention and deiectlon of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit inforniation of which the charitable compan} s examiners are unaw'are; and the trustees have thken all steps (hat they ought 10 have taken to make themselves aware of any relevant audit infomlation and to esthblish thai (he examiners are aware of thai inforniaiion. Independent Examiners The Independent Examiners, Dunkley's. will be proposed for re-appointment at the forthcoming Annual General Meeting. ON BEHALF OF THE BOARD: Barry Burlo5 (Dec 23, 202J 13.41..43 GMT) Barry Burles Trustee - Chair Date: 2311212025 Page 7
Inde endent Examiner's Re ort to the Trustee5 of Waterber Welfare Societv Trust o eratin as The Waterber Trust Independent examiner's report lo ihe truslees of Waterberg Welfare Society Trust operating as The Waterberg Trusl ('Ihe Company,) I report to the charit>. trustees on my examinatton ofthe accounts of the Company for the period l April 2024 to 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of companv law) you are responsible for the preparation of the accounts in accordance with the requiremenis of Ihe Companies Act 2006 ('the 2006 Act,). Having satisfied mvself that the accounts of the Company 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 ?0 I l Act,). In can)'ing out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 201 l Act. Independent examiner's statement I have completed m). examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Colnpany as required by Section 386 of the 2006 Act- or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of seciion 396 of the 2006 Act other than any requirement that ihe accounis give a true and fair view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prac(ice for accounting and reporting by charities (applicable to charities preparing their accounis in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concems and have come across no other matters in conneciion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Matthew Dobbins (Dec 23, 2025 16:35:11 GMT) Matthew Dobbins FCA Dunkley's Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY Date: 2311212025 Page 8
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Statement of Financial Activittes for the Year Endin 31 March 2025 31.03.25 31.03.24 Unrestricted Restricted Total Total funds funds funds Funds Notes INCOME Donations 14,181 12.425 930 32,148 46,329 12,425 930 34,230 13,794 63 Income from other activities Interest Total income 27,536 32,148 59,684 48,087 EXPEIYDITURE Charitable activities Grant Giving 18,116 32,943 51,059 39,687 Total expenditure 18.116 32,943 51,059 39,687 Net ineomel(expenditure) before gains and losses 9.420 (795) 8,625 8,400 Realised gains 175 175 331 Iyet income/(expenditure) 9,595 (795) 8,800 8,731 Transfer betiveen funds 14 (6,777) 6,777 RECONCILIATION OF FUNDS Total funds brought forward 62,102 2,753 64,855 56,124 TOTAL FUNDS CARRIED FORWARD (Fl,920 8,735 73,655 64,855 Page 9
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Com arative Statement of Ftnanctal Activittes for the Year Endin 31 March 2024 31.03.24 Unrestricted Restricted Total funds funds Funds Notes INCOME Donations 7.926 26,304 34,230 13.794 63 Income from other activities Interest 63 Total income 21,783 26,304 48,087 EXPENDITURE Charitable activitie5 Grant Giving 7,184 32,503 39,687 Total expenditure 7,184 32,503 39,687 Iyet income/(expenditure) before gains and 1055es 14,599 (6,199) 8.400 Realised gains 331 331 Net incomel(expenditure) 14,930 (6,199) 8,731 Transfer between funds 14 (2,365) 2,365 RECONCILIATION OF FUNDS Total funds brought forward 49,537 6,587 56,124 TOTAL FUNDS CARRIED FORWARD 62,102 2,753 64,855 Page 10
Waterber Welfare Socie Balance Sheet At 31 March 2025 Trust o eratinu as The Waterbe Trust Co. No. 5902240 31.03.25 31.03.24 Unrestricted Restricted Total Total funds funds funds Funds Notes FIXED ASSETS Investments 7,663 7,663 7,488 CURRENT ASSETS Debtors 320 320 20,420 63,073 Cash at bank 65,217 8,735 73,952 65,537 8,735 74,272 83,493 CREDITORS Amounts falling due within one year 12 (8,280) (8,280) (26,126) NET CURRENT ASSETS 57,257 8,735 65,992 57,367 IYET ASSETS 61,920 8,735 73,6)5 64,855 FUNDS 13 Unrestricted funds 64,920 64,920 8,735 62,102 2,753 Restricted funds 8,735 TOTAL FUNDS 64,920 8.735 64,855 The charitable company is eniitled to exemption from audil under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance '1th Section 476 of the Companles Aci 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that compl>, with Sections J86 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year IT] accordance with the requirements of Sections 394 and 395 and which otherwise comply 'Ith the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial 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 ol Trustees and authorised for 155ue on 191h December 2025, and were signed on it5 behalf by.. Barry Burle (Dec 23, 2025 13..41'.43 GMTI Barry Burles Trustee- Chair Page 11
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Notes to the Financial Statements for the Year Endin 31 March 2025 ACCOUNTING POLICIES The principal accounting policies adopted: judgemenls 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 the year to 31 March 2025. The financial statements of the charitable compan),, 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 w ith 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 statements have been prepared under the historical c05t convention, with the exception of investments which are included at market value. The accounts are presented in sterling and are rounded to the nearest pound. Critical accounting estimates and areas of judgement Preparaiion of the financial sthiemenis requires the twsiees to make significant judoements and estimates. The trustees do not Consider thai ihere are any sources of estimation uncertainty or kmy k.ey judgements made in the preparaiion of the financial statements. Assessment of going con¢¢rn The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessmenl in respect to a period of one N'ear from the date of approval of these financial statements. The Trustees of the Charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubl on the ability of the Charity lo continue as a going concern. Given the additional challenges of the Cost of Living Crisis, 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 period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the incovne will be received. Income is deferred only when the group or charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future accounting period. Income comprises donation5, investment income and interest receivable. Donations are recognised when the Charity has confirniaiion of both the amount and settlement date. In the event of donations pledtred bui noi received, the amouni is accrued for where ihe receipt is considered probable. In the event that a donation is subject to conditions ihat require a level of perforniance before the charitN' is entitled to tl)e funds, the income is deferred and not recognised uniil either those conditions are fully met. or the fulfilment of those conditions is wholl), 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 the dividend is received. Interest on ndS held on deposit is included ivhen receivable and the amount can be measured reliably by the charity. this is normally upon notification of the inierest paid or payable by the bank. Page 12
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Notes to the Financial Statements - continued for the Year Endin 31 March 2025 Expenditure recognition Liabilities 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. it is probable that a Irdnsfer 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 grdnts payable to nurses. the cost of the Telephone Befriending Service and allocated support costs. Grants payable are included in the statement of financial activities when approved and when the intended recipient has either received the fund5 or been informed of the decision to make the grant and has 5at15fied all related conditions vi) Allocation of Support and governance costs Support costs represent indirect charitable expeTtditure. In Order to carry Out the primary purwses of the charity it is necessary to provide support in the form ol financial and governance procedure5, provision of office Services and equipment and a suitable working environment. Governance costs comprise all costs relating to the public accountabilit)f of the charity and its compliance with regulation and good practice. These cosis include costs relating to the independent examination of the financial statements and legal fees. Support costs and governance costs are allocated to the charity's single charitable activity. vii) Investments Listed investments are a forni of basic financial instrumeni and are initiall).. recoLYnised at their transaction value and subsequently measured al their fair value as at the balance sheet date using the closing quoied market price. The charity does not acquire put options, derivatives or other complex financial instruments. Realised gains {or losses) 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 first day of the financial }'ear. 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 (or1055es) are combined in the statement of financial activitie5 and are credited {or debited) in the year in which the). arise. Other Investments are included at cosL which is considered to be approximate to their market value. viii) Debtors Debtors are recognised at their settlement amount, less any provision for non-recoverability. They have been discounted to the present value of the future cash receipt where such discounting is material. ix Cash at bank and in hand Cash at bank and in hand represents such accounts and instrnments that are available on demand or have a maturity of less than three months from the date of acquisition. Creditors and provisions Creditors and provisions are recognised when there 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 provisions are recolnised at the amouni Ihe charity aniicipates it will pay to settle the debt. They have been discounÈd to the present value of the fuwre cash payment where such discountlng is material. Page IJ
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Notes to the Financial Statements - continued for the Year Endin 31 March 2025 Fund accounting Restricied funds are monies raised for, and (heir use restricted to, a specific purpose. or donations subject to donor- imposed conditions Unrestricted funds represent those monies that 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 funds to be used for a particular future project or commitment. xii) Statement of cash flows The financial statements do not include a statement of cash flows because the 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 activitie5. xiv) Foreign Currencies Assets and liabilities in foreign currencies are translated into Sterling at the rdtes of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated inio sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. DONATIONS Year Ended Year Ended 31.03.25 31.03.24 Other Donations 13,850 5,294 6,166 20,000 7,706 30 Other Donations Restricted Dignity Dreams The Van Dedem Foundation Trust Restrieted School Nursel Counsellor 6,274 20,000 220 Other Donations Restrieted The Kilroot Foundation Gift aid Gift aid Restricted 688 46,329 34,230 INCOME FROM OTHER ACTIVITIES Year Ended Year Ended 31.03.25 31.03.24 Fundraising event income - Sponsored Bike Ride 12,425 13,794 12,425 13,794 Page 14
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Notes to the Financial Statements - continued for the Year Endin 31 March 2025 CHARITABLE ACTIVITIES COSTS Year Ended Year Ended 31.03.25 31.03.24 Grants to institutions Note 5 44,461 5,657 941 34,957 3,574 1156 Support costs Govemance costs Note 6 Note 7 51,059 39,687 GRANTS PAYABLE Year Ended 31.03.25 Year Ended 31.03.24 Grants to institutions 44,461 34,957 The total grants accrued and paid to institutions during the year were as follows: Year Ended Year Ended 31.03.25 31.03.24 Northern Education Trust (Restricted) June 24 to May 25 Northern Education Trust (Unrestricted) Lapala Wilderness School (Unrestricted) Waterberg Landscape Alliance/Save the Waterberg Rhino (Restricted) 12,943 3.018 2,454 8,500 20,000 20,000 44,461 34,957 6 SUPPORT COSTS Year Ended Year Ended 31.03.25 31.03.24 Other resources expended by Management 5,657 3,574 The notes fonn part of these flnancial statements Page 15
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Notes to the Financial Statements - continued for the Year Endin 31 March 2025 SUPPORT COSTS (conl.) Costs, included in the above, are as follows: Year Ended Year Ended 31.03.25 31.03.24 Other resources Other resources Expended Expended Bank charges Printing, Postage and Stationery Commission 288 238 230 109 216 216 Administration 4,858 65 2,855 156 Website 5,657 3,574 7 GOVERNANCE COSTS Year ended Year ended 31.03.25 31.03.24 Examiners, remuneration 900 1,140 16 Companies House 41 941 1,156 NET INCOME/(EXPENDITURE) Net resources are stated after charging{crediting): Year ended Year ended 31.03.25 31.03.24 Examiners, remuneration 900 1,140 Page 16
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Notes to the Financial Statements - continued for the Year Endin 31 March 2025 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the Year Ending J l March 2025 nor for the year ended 31 March 2024. Staff eosts and remuneration of key management personnel The charity employed no members of staff during the period. The administraiion and financial management of the of the charitv is outsourced to The Trust Partnership. The trustees consider that they comprise the key management of the charity in charge of directing and controlling. running and operating the charity on a day to day basis. The trustees received no remuneration in connection ivith their duties. Tru5tees' Expenses Trustees, expenses amounting to £nil M'ere paid during the Year Ending 31 March 2025 (2024- £Nil). io. RELATED PARTIES DISCLOSURES During the accounting year from I" April 2024 to 31" March 2025 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 Waterberg Trusi. During the accounting year from l April 2024 to 31" March 2025, the charily received unrestricted donations from trustees and oiher related parties totalling £10.505 (prior year £5.675), £1,000 restricted (prior year £0). No conditions were attached. No other related pany transactions requiring disclosure occurred. and no trustees were remunerated. 1 I. FIXED ASSET INVESTMENTS Listed investments as at 31 ' March 2025 MARKET VALUE At 31 March 2024 7,488 Additions Revaluations 175 At 31 March 2025 7,663 NET BOOK VALUE At 31 March 2025 7,663 7,488 At 31 March 2024 12 CREDITORS: Amounts falling due within one vear Year Ended Year Ended 31.03.25 31.03.24 Grants payable Grants payable (Restricted) Waterberg Welfare Society, Food Parcels Grants payable (Restrict) STWIUIVLA grant accrual Other creditors 2,252 1,113 1,139 20,000 3,874 26,126 6,028 8,280 Page 17
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Notes to the Financial Statements - continued for the Year Endin 31 March 2025 13 MOVEMENT IN FUNDS Net movement in At funds 31.03.25 At 31.03.24 Unrestricted funds General fund 29,245 4,562 33,807 Designated funds Sister Grace salary Food parcel distribution Kettner Grant 30,000 1,113 1,744 30,000 1,113 (1,744) Restrieted funds Dignity Dreams 2,753 5,982 8,735 TOTAL FUNDS 64,855 8.800 73,655 14 AIYALYSIS OF NET ASSETS BETWEEN FUIYDS 2025 Fixed Assets Net Assets Total Unrestricted funds General fund 7,663 26,144 33,807 Designated funds Sister Grace salary Food parcel distribution Kettner Grant 30,000 1,113 30,000 1,113 Restricted funds Dignity Dreams 8,735 8,735 TOTAL FUNDS 7,663 65,992 73,655 Page 18
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Notes to the Financial Statements - continued for the Year Endin 31 March 2025 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS COMPARATIVE ANALYSIS OF NET ASSETS BETWEEIY FUNDS 2024 Fixed Assets Net Assets Total Unrestricted funds General fund 7,488 21,757 29,245 Designated funds Sister Grace salary Food parcel distribution Kettner Grant 30,000 30,000 1,113 1,744 1,744 Restricled funds Dignity Dreams 2,753 2,753 TOTAL FUNDS 7.488 57,367 64,855 Restricted funds Dignity Dreams- Funds received specifically to provide Dignity Dreams packs. Designated funds- Jn 2020 Trusiees designated £45,000 to fund the salary of Sister Grace through to 2025. Balance increased to £30,000 to cover two years of salary. Food Parcels purchase and distribution to the most needy wiihin the Waterberg by Sister Grace. Page 19
Waterber Welfare Socie Trust o eratinu as The Waterbe Trust Notes to the Financial Statements - continued for the Year Endin 31 March 2025 Year Ended Year Ended 31.03.25 31.03.24 IIYCOME Donations 45,998 12,425 34,010 Bike Ride Donations 13,794 220 Gift aidlreclaimed tax Interest 930 63 Total income 59,684 48,087 EXPENDITURE Grants to institutions 44,461 34,957 Governance costs Examiners, remuneration 900 1,140 Companies House 41 16 45,402 36,113 Support costs- Management Bank charges Printing, Postage and Stationery Commission 288 238 230 109 216 216 Administration 4,858 65 2,855 156 Website 5,657 3,574 Total expenditure 51,059 39,687 Net income before gains and losses 8,625 8,400 Realised gains 175 331 Net income 8,800 8,731 Page 20