Waterloo Community Association
Charity No. 1118706
Company No. 05746765
Trustees' Report and Unaudited Accounts
31 March 2025
Waterloo Community Association Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 3 to 5 | |
| Independent Examiner's Report | 6 | |
| Statement of Financial Activities | 7 | |
| Summary Income and Expenditure Account | 8 | |
| Balance Sheet | 9 | |
| Notes to the Accounts | 10 to | 17 |
Page 1
Waterloo Community Association Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, herein present their report with the unaudited financial statements of the charity for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 05746765
Charity No. 1118706
Registered Office
Old School Building Great George Road Waterloo Liverpool L22 1RD
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
P.G. Cowley P.P. Cummins L. Kennedy M. Kerbey P. Lappin J. Lee-Martin (Resigned 19 July 2024) E. Smith
Key Management Personnel
| Key Management Personnel | |
|---|---|
| Chair | Patricia Cowley |
| Centre Manager | Mike Cain |
Accountants
Sefton Council for Voluntary Service Burlington House Crosby Road North Waterloo Liverpool L22 0LG
Bankers
Co-operative Bank Plc
Page 2
Waterloo Community Association Trustees Annual Report
PO Box 250
Skelmersdale West Lancs WN8 6WT
OBJECTIVES AND ACTIVITIES
The objects of the charity are:-
1) promote the benefit of the inhabitants of the area of benefit without distinction of sex, sexual orientation, nationality, age, disability, race or of political, religious or other opinions by associating together the said inhabitants and the statutory authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants;
2) establish, or to secure the establishment of a Community Centre and to maintain and manage the same (whether alone or in co-operation with any statutory authority or other person or body) in furtherance of the above objects:
3) promote such other charitable purposes as may from time to time be determined.
In relation to these objects we have operated a community centre with a wide range of activities which are linked to the wellbeing of local residents including a weekly community kitchen and cycle club.
In setting our objectives and planning our activities the trustees have given careful consideration to the Charity Commission's guidance on public benefit.
ACHIEVEMENTS AND PERFORMANCE
We want to record our thanks to Mike Cain, our Centre Manager, who retired during the year and welcome our new Centre Manager, Jane Eccleston and Patrick Eccleston, our Site Manager..
As last year we have noticed a continued increase in people asking for assistance and continue to network with others locally to ensure we can signpost people to relevant organisations as appropriate. After creating a Warm Hub a couple of years ago, which operates during the day to provide a warm space for local residents to meet, have a drink and a chat and a hot meal we continued to offer this, and demand has increased over the period. As always, we are eternally grateful to the volunteers who have returned to help operate the hub and for those that support the cycle club Tour de Friends.
The Building
We are still seeking ways to progress work on the building, meanwhile we continue to maintain and cherish the fabric of the building to ensure it is open for all the community in Waterloo and the surrounding area. Activities
As mentioned previously we operate a Warm Hub, which we now call a Welcome Hub, with our partner Crosby Housing Association. This is open on a Friday for a hot meal and a place to meet with others and socialise. Customer numbers have increased over time, and we are noticing a request from them for more information about what is available locally to support them with requests about housing, benefits etc. Customers are also telling us about the benefits they receive by meeting with others in a warm environment.
Page 3
Waterloo Community Association
Trustees Annual Report
The Tour de Friends Cycling Club continues to operate and is immensely popular. The group is as much for the social side as the physical rides that members enjoy. This regular contact was crucial during the pandemic, some members of the group live alone and had no contact with others apart from online meetings, and they have told us how valuable these rides are for both their continuing physical as well as their mental health. There are a number of trained bike leaders running separate rides, several times a week including weekends with all the groups meeting together regularly.
We have started a weekly Old School Art Club which runs on the same day as the Welcome Hub so members can enjoy a meal together at the end of class.
We continue to offer hire of the building out to local groups and the community, enabling a range of activities to take place in the area which help our local community lead fulfilling lives.
FINANCIAL REVIEW
As at 31st March 2025 total funds of £137,085 were held, of which £132,002 were in unrestricted funds. However, the fixed asset fund, which represents the net book value of fixed assets, was £132,514. General funds were a negative £512.
We have been fortunate to receive grants from Sefton Council which have enabled us to cover some of our costs.
The trustees have designated certain funds to assist in the financial management of the charitable company. In order to assist the trustees to identify the free cash reserves a designated Fixed Asset fund should hold the value of tangible fixed assets as at each year-end
We have a policy for holding reserves once we have reached a set limit. This has not yet been reached and we will continue to monitor this policy. The reserve policy is to ensure that should there be an unforeseen event or if we are to look to undertake major works we have the resources to do so. At this point in time we have sufficient funds to cover our liabilities.
PLANS FOR FUTURE PERIODS
The Trustees focus is firmly on the building refurbishment, particularly the roof, as well as working with all our partners to ensure that they enjoy using the Centre and that we as an organisation are able to respond to local need, particularly since the long term impact of the pandemic clearly shows that there are emotional, social and mental health needs that, going forward, we will need to react to as an organisation for our community. A survey was carried out last year to find out what local residents want from their community centre and, as previously mentioned, we have new activities due to start shortly as a result of the feedback. This survey will be carried out regularly to ensure we are meeting the needs of our community.
Thanks
Although previously referenced we would like to record our thanks to the staff, including volunteers, Mike Cain for his incredible support during the year as a paid employee and who also continues to support us by volunteering at the Welcome Hub. We thank Jane and Patrick for settling in so quickly and understanding the needs of our community so well. Thanks also go to Sefton Council for its ongoing support and the wider community for continuing to work with us, we value their trust and look forward to developing further our community facilities for all the residents in Waterloo and the surrounding area.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
Page 4
Waterloo Community Association Trustees Annual Report
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
P. Lappin P. Lappin Trustee Trustee 11 December 2025 11 December 2025
Page 5
Waterloo Community Association Independent Examiners Report
Independent Examiner's Report to the trustees of Waterloo Community Association
I report to the charity trustees on my examination of the financial statements of Waterloo Community Association for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the financial statements of the charity 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 financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (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 understanding of the financial statements to be reached.
Ian Wright Chartered Accountant Sefton Council for Voluntary Service Burlington House Crosby Road North Waterloo Liverpool L22 0LG 11 December 2025
Page 6
Waterloo Community Association Statement of Financial Activities
for the year ended 31 March 2025
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Total Expenditure on: Charitable activities 6 Total Net gains on investments Net expenditure 7 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2025 £ 8,854 15,124 |
Restricted funds 2025 £ - 9,100 |
Total funds 2025 £ 8,854 24,224 |
Total funds 2024 £ 4,944 42,945 |
|---|---|---|---|---|
| 23,978 37,757 |
9,100 9,176 |
33,078 46,933 |
47,889 52,004 |
|
| 37,757 - |
9,176 - |
46,933 - |
52,004 - |
|
| (13,779) - |
(76) - |
(13,855) - |
(4,115) - |
|
| (13,779) | (76) | (13,855) | (4,115) | |
| (13,779) 145,781 |
(76) 5,159 |
(13,855) 150,940 |
(4,115) 155,055 |
|
| 132,002 | 5,083 | 137,085 | 150,940 |
Page 7
Waterloo Community Association Summary Income and Expenditure Account
for the year ended 31 March 2025
| Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2025 £ 33,078 33,078 43,160 3,773 46,933 (13,855) (13,855) |
2024 £ 47,889 |
|---|---|---|
| 47,889 | ||
| 48,140 3,864 |
||
| 52,004 | ||
| (4,115) | ||
| (4,115) |
Page 8
Waterloo Community Association Balance Sheet
at 31 March 2025
| Company No. 05746765 Notes 2025 £ Fixed assets Tangible assets 9 132,514 132,514 Current assets Debtors 10 246 Cash at bank and in hand 8,063 8,309 Creditors:Amount falling due within one year 11 (3,738) Net current assets 4,571 Total assets less current liabilities 137,085 Net assets excluding pension asset or liability 137,085 Total net assets 137,085 The funds of the charity Restricted funds 12 Restricted income funds 5,083 5,083 Unrestricted funds 12 General funds (512) Designated funds 132,514 132,002 Reserves 12 Total funds 137,085 |
2024 £ 135,828 |
|---|---|
| 135,828 229 17,122 |
|
| 17,351 (2,239) |
|
| 15,112 150,940 |
|
| 150,940 | |
| 150,940 | |
| 5,159 | |
| 5,159 9,953 135,828 |
|
| 145,781 | |
| 150,940 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 11 December 2025
And signed on its behalf by:
P. Lappin Trustee
11 December 2025
Page 9
Waterloo Community Association Notes to the Accounts
for the year ended 31 March 2025
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The functional currency used is the £ Sterling.
Preparation of the accounts on a going concern basis
At the time of approving the accounts, the trustees' have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the forseeable future. As such these accounts have been prepared under the going concern basis.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Page 10
Waterloo Community Association Notes to the Accounts
-
Income Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page 11
Waterloo Community Association Notes to the Accounts
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property 2%% Straight line Equipment 15%% Reducing balance
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Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 12
Waterloo Community Association Notes to the Accounts
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
||||
|---|---|---|---|---|
| Income and endowments from: Donations and legacies Charitable activities Total Expenditure on: Charitable activities Total Net income Transfers between funds Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Donations 5 Income from charitable activities Sefton MBC Crosby Housing Association Room hire Vola Digital Cycle UK Sefton Care Christmas Event Elizabeth Rathbone |
Unrestricted £ - - 15,124 - - - - 15,124 |
Unrestricted funds 2024 £ 4,944 21,523 26,467 35,418 35,418 (8,951) 7,092 (1,859) (1,859) 147,640 145,781 Unrestricted £ 8,854 8,854 Restricted £ 4,500 2,600 - - - - 2,000 9,100 |
Restricted funds 2024 £ - 21,422 21,422 16,586 16,586 4,836 (7,092) (2,256) (2,256) 7,415 5,159 Total 2025 £ 8,854 8,854 Total 2025 £ 4,500 2,600 15,124 - - - 2,000 24,224 |
Total funds 2024 £ 4,944 42,945 |
| 47,889 52,004 |
||||
| 52,004 | ||||
| (4,115) - |
||||
| (4,115) | ||||
| (4,115) 155,055 |
||||
| 150,940 | ||||
| Total 2024 £ 4,944 |
||||
| 4,944 | ||||
| Total 2024 £ 4,500 3,626 21,523 8,889 2,907 1,500 - |
||||
| 42,945 |
Page 13
Waterloo Community Association Notes to the Accounts
6 Expenditure on charitable activities
| Expenditure on charitable activities Sefton MBC Crosby Housing Association Sefton Care Christmas Event Admin costs Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 7 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 8 Staff costs Salaries and wages Pension costs |
Unrestricted £ - 8,315 - - 19,795 2,169 3,773 2,704 1,001 37,757 |
Restricted £ - - - - - 8,602 - 574 - 9,176 2025 £ 3,773 2025 19,588 207 19,795 |
Total 2025 £ - 8,315 - - 19,795 10,771 3,773 3,278 1,001 46,933 |
Total 2024 £ 1,750 4,453 2,185 304 17,271 16,365 3,864 4,918 894 |
|---|---|---|---|---|
| 52,004 | ||||
| 2024 £ 3,864 2024 17,160 - |
||||
| 17,160 |
No employee received emoluments in excess of £60,000.
Page 14
Waterloo Community Association Notes to the Accounts
9 Tangible fixed assets
| Cost or revaluation At 1 April 2024 Additions At 31 March 2025 Depreciation and impairment At 1 April 2024 Depreciation charge for the year At 31 March 2025 Net book values At 31 March 2025 At 31 March 2024 10 Debtors Trade debtors Prepayments and accrued income 11 Creditors: amounts falling due within one year Trade creditors Other creditors Accruals |
Land and buildings £ 155,000 - 155,000 25,200 2,800 28,000 127,000 129,800 2025 £ 175 71 246 2025 £ 1,034 2,423 281 3,738 |
Equipment £ 7,092 459 7,551 1,064 973 2,037 5,514 6,028 |
Total £ 162,092 459 |
|---|---|---|---|
| 162,551 | |||
| 26,264 3,773 |
|||
| 30,037 | |||
| 132,514 | |||
| 135,828 | |||
| 2024 £ 200 29 |
|||
| 229 | |||
| 2024 £ 983 975 281 |
|||
| 2,239 |
Page 15
Waterloo Community Association Notes to the Accounts
12 Movement in funds
| 12 Movement in funds | |||||
|---|---|---|---|---|---|
| At 1 April 2024 2,191 2,394 - 574 - 5,159 9,953 135,828 135,828 150,940 |
Incoming resources (including other gains/losses) £ 2,600 - 4,500 - 2,000 9,100 23,978 - - 33,078 |
Resources expended £ |
Gross transfers £ - - - - - - 3,314 (3,314) (3,314) - |
At 31 March 2025 £ 1,933 1,150 - - 2,000 |
|
| Restricted funds: Restricted income funds: Crosby Housing - Winter Warm Hub Sefton MBC - Transition Fund Sefton MBC Vola Digital Grant Elizabeth Rathbone Total Unrestricted funds: General funds Designated funds: Fixed Asset Fund Total Total funds |
|||||
| (2,858) | |||||
| (1,244) | |||||
| (4,500) | |||||
| (574) - (9,176) (37,757) - - (46,933) |
|||||
| 5,083 | |||||
| (512) 132,514 |
|||||
| 132,514 | |||||
| 137,085 |
Purposes and restrictions in relation to the funds:
Restricted funds: Crosby Housing - Winter Development of the charity Warm Hub Sefton MBC - Transition Fund Support the cost repairs to the roof Sefton MBC Enable the charity to meet general running costs Vola Digital Grant Purchase of IT equipment Elizabeth Rathbone Development of the Charity Designated funds: Fixed Asset Fund Cover the cost of Fixed Assets which are not available for general use.
13 Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| Fixed assets Net current assets |
Unrestricted funds £ 127,000 4,571 131,571 |
Restricted funds £ 5,514 - 5,514 |
Total £ 132,514 4,571 |
| 137,085 |
Page 16
Waterloo Community Association Notes to the Accounts
14 Reconciliation of net cash / (net debt)
| Reconciliation of net cash / (net debt) | |||
|---|---|---|---|
| Cash and cash equivalents Net cash / (net debt) |
At 1 April 2024 £ |
Cash flows £ |
At 31 March 2025 £ |
| 17,122 | (9,059) | 8,063 | |
| 17,122 17,122 |
(9,059) (9,059) |
8,063 | |
| 8,063 |
FRS 102 requires and entity to report changes in net debt in the accounting period. Waterloo Community Association does not carry any debt or other borrowings and has a positive net cash position
15 Commitments
Pension commitments
| Pension commitments | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| The pension cost charge to the company | ||
| amounted to: | 207 | - |
16 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 17