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 C￿truSteeS 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.
0￿ECTIVEs 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 Statel￿entS 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