# **FOUNDATION FOR WATER** (A Company Limited by Guarantee) Annual Report and Financial Statements For the Year Ending 29[th] February 2024 Company Number 06505102 Charity Number 1133741 ## **FOUNDATION FOR WATER** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **REGISTERED CHARITY NUMBER:** 1133741 **COMPANY NUMBER : 06505102** 6505102 **REGISTERED ADDRESS** Pixton Hill Hartfield Road Forest Row East Sussex RH18 5JX **TRUSTEES & DIRECTORS** Professor C Giorgetti (resigned 21/11/2023) Thomas Wilkes Peter Malaise (resigned 21/11/2023) Nigel Wells (appointed 21/11/2023) Hayley Spence (appointed 21/11/2023) Michael Monzies (appointed 21/11/2023) Simon Charter (appointed 21/11/2023) **COMPANY SECRETARY** Trustees **INDEPENDENT EXAMINER** Lydia Hounsell ACMA CGMA Missieki Martin Limited Chartered Management Accountants 10 Parkway Crosby Liverpool L23 0ST 2 ## **FOUNDATION FOR WATER** The Trustees present their report and accounts for the year ended 29 February 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Articles of Association, the Companies Act 2006 and the Charities SORP (FRS102) - Second Edition October 2019. ## **Structure, governance and management** The charity is a company limited by guarantee. The Trustees, who are also the directors for the purpose of company law, and who served during the year were: Professor C Giorgetti (resigned 21/11/2023) Thomas Wilkes Peter Malaise (resigned 21/11/2023) Nigel Wells (appointed 21/11/2023) Hayley Spence (appointed 21/11/2023) Michael Monzies (appointed 21/11/2023) Simon Charter (appointed 21/11/2023) Trustees are appointed by ordinary resolution of the members in general meeting and are inducted and trained by existing trustees. None of the members of the trustees has any beneficial interest in the company. All of the members of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up, while they are still members or within a year of membership ceasing. The trustees make the decisions of the charity. The charity has links with other water foundations across the world to widen its influence and research in order to further meet its charitable objectives. These links do not constitute related parties as deemed by the Companies Act 2006. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Objectives and Activities** The Charity's objects are: - to promote, for the benefit of the public, the conservation, protection and improvement of the physical and natural environment, with a non-exclusive focus on enhancing the capacity of water to support life and otherwise improving the quality of water, - to promote public health, by carrying out research and developing ecologically supportive technology and methods in domestic, agricultural, industrial and natural situations for the benefit of local communities and the public generally, - to advance the education of the public in relation to the life-supporting capacities and other characteristics of water with a nonexclusive focus on ways of thinking developed by JW Goethe and Rudolf Steiner. The trustees have paid due regard to the guidance issued by the Charity Commission in deciding what activities the charity should undertake. 3 ## **FOUNDATION FOR WATER** **TRUSTEES' REPORT for the year ended 29 February 2024** ## **Achievements & Performance** ## **Overview** Our main aim over the last year has been to continue sustaining our basic financial security and also carry on to the new sit uation with new trustees. To go through the building and grounds around sorting moulds and prototypes as well as to initiate new activity. ## **Representation** The Foundation was represented at an International Biodynamic Agriculture Conference in Switzerland by two trustees and a supporter where water workshops and lectures were given as well as an exhibition on the work of the Foundation. A new brochure about the Foundation was created, published and printed for the occasion. ## **Research** The year has been taken up by consolidating our previous research and looking to formulate a water education research project for both adults and children of school age. This will start looking for funding within a short time. Communication and networking with other water organisations that can be connected to the Foundation’s aims. ## **Education** The Foundation organised the first of a series of conferences/workshops both live in the Foundation building and internationally coupled through internet. On the Foundation site there was set up an interactive water play channel for children (also adults) showing 8 different natural water-course movements. Plans were started for the making of an outside exhibition area. ## **Relationship with Landlord** The Foundation for Water has a 999-year lease of its 0.25 ha property and three-story building from its landlord, Emerson College Charitable Trust. The process of negotiating a variation of the lease contract with them to make it a more equitable balanced legal document was commenced during 2022/23 year of report and concluded in October 2023. An anonymous donor has funded the Foundation with loans to cover the considerable legal costs involved. ## **Staff** Two trustees resigned during the year and four new trustees were appointed. The Foundation continues to actively seek furthe r trustees in order to maintain depth of governance. ## **Planning and Finances** The Foundation has a stable situation with the school tenant relationship developing well, and maintenance of the grounds and building is ongoing with both voluntary and professional help. Further conferences are planned which will help get the downstairs area into better shape for educational purposes. Four Trustee meetings took place during the year ## **Assets** The maintenance of building and grounds are continually appraised for more activity. The legacy of previous research and development activity paves the way along with the new website to further the future plans of the Foundation. On behalf of the board of trustees ……………………………………………. ## **Nigel Wells** Trustee Dated: 15 October 2024 4 ## **FOUNDATION FOR WATER** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees, who are also the directors of the Foundation for Water for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity. Under that law the directors have elected to prepare the financial statements in accordance with UK Accounting Standards and applicable law. The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; and - prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that its financial statements comply with the Charities Act 1993 and the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities. 5 ## **FOUNDATION FOR WATER** **Report to the Trustees/Directors of Foundation For Water on accounts for the year ended 29 February 2024** **Charity Number:** 1133741 **Company Number:** 06505102 I report on the accounts of the charity for the year ended 29 February 2024, which are set out on pages 7 to 13. ## **Responsibilities and basis of report** As the charity's trustees of the Company (who are also the directors of Foundation For Water for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year 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 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** The company's gross income did not exceed £250,000. I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or - the accounts do not accord with such records; or - the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts 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 Charities SORP (FRS102) I have no concerns and have come across no other matter in connection 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. Lydia Hounsell ACMA Missieki Martin Limited Chartered Management Accountants 10 Parkway Crosby Liverpool L23 0ST Dated 13 November 2024 6 ## **FOUNDATION FOR WATER** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## **For the year ended 29 February 2024** |**Notes**
**Incoming Resources**
Donations and legacies
2
Activities for generating funds
2
Rental income & Guest Accommodation
2
Sales & Other income
2
Grant Income
2
Investment Income
3
**TOTAL INCOMING RESOURCES**
**Resources expended**
**Cost of generating funds**
Costs of generating donations and legacies
4
**TOTAL RESOURCES EXPENDED**
Net incoming resources available
**Charitable Activities**
Administration and finance
6
Governance costs
4
Project costs
5
Total resources expended
Net (outgoing)/incoming resources before
provisions
Transfers between funds
**NET MOVEMENT IN FUNDS**
Fund Balances brought forward
**Fund balances carried forward**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2024 Total**
**Funds**
2023 Total
Funds
**10,823**
**0**
**10,823**
32,077
**0**
**0**
**0**
0
**22,950**
**0**
**22,950**
18,301
**76**
**0**
**76**
78
**0**
**0**
**0**
0
**245**
**0**
**245**
68| |---|---| ||**34,094**
**0**
**34,094**
50,524
**0**
**0**
**0**
0| ||**0**
**0**
**0**
0| ||**34,094**
**0**
**34,094**
50,524
**30,417**
**0**
**11,929**
11,929
**24,433**
**0**
**22,070**
22,070
**0**
**0**
**0**
0
**54,850**
**0**
**54,850**
33,999
**(20,756)**
**0**
**(20,756)**
16,525
7,200
(7,200)
0
0| ||**(13,556)**
**(7,200)**
**(20,756)**
16,525
**522,435**
**18,153**
**540,588**
524,063| ||**508,879**
**10,953**
**519,832**
540,588| 7 ## **FOUNDATION FOR WATER** ## **BALANCE SHEET As at 29 February 2024** |||||**2024**||2023| |---|---|---|---|---|---|---| ||**Notes**||**£**|**£**|£|£| |**Fixed Assets**||||||| |Tangible assets||8||**650,000**||650,000| |**Current Assets**||||||| |Cash at bank and in hand|||**27,694**||36,692|| |Creditors: amounts falling due within one year||9|**2,640**||0|| |**Net current (liabilities)/assets**||||**25,054**||36,692| |**Total assets less current liabilities**||||**675,054**||686,692| |**Creditors: amounts falling due after**||||||| |**more than one year**||10|**(155,222)**|**(155,222)**||(146,104)| |**Net assets**||||**519,832**||540,588| |**Income funds**||||||| |Unrestricted funds||||**158,879**||172,435| |Restricted funds||||**10,953**||18,153| |Non-distributable reserve|||**350,000**|**350,000**||350,000| |||||**519,832**||540,588| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act. 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. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies’ regime. The notes on pages 9 to 13 form part of these financial statements. Approved by the Board on 15 October 2024 ……………………………………………………….. Nigel Wells **Trustee** **Company registration number** **6505102** 8 ## **FOUNDATION FOR WATER** **NOTES TO THE ACCOUNTS For the year ended 29 February 2024** ## **1 Accounting Policies** ## **Accounting convention** The accounts have been prepared under the historical cost convention and comply with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and in accordance with the financial reporting standards for smaller entities (FRSSE) and the Companies Act 2006. ## **Reporting currency** The accounts are prepared in GBP, which is the principal operating currency of the company. ## **Incoming resources** All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities when receivable. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. ## **Resources expended** Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered, and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Tangible fixed assets and depreciation** Tangible fixed assets comprise land and buildings, which are not depreciated. 9 ## **FOUNDATION FOR WATER** ## **NOTES TO THE ACCOUNTS For the year ended 29 February 2024** ## **2 Donations and Legacies** |Activities for generating funds
Donations and gifts
AS & GB Grant Income
SAGT Science Proposal
Research SAG Phase 2
Rental income
Royalties
Other income
Sales|**Unrestricted**
**funds**
**£**
0
**Restricted**
**Funds**
**£**
0
**Total 2024**
**£**
**0**
10,823
0
**10,823**
0
0
**0**
0
0
**0**
0
0
**0**
22,950
0
**22,950**
76
0
**76**
0
0
**0**
0
0
**0**
33,849
0
**33,849**|Total 2023
£
0
32,077
0
0
0
18,300
78
0
0| |---|---|---| |||50,455| ## **3 Investment income** |Interest receivable
**4 Total resources expended**
**Cost of generating funds**
Cost of generating donations and legacies
**Charitable activities**
Activities undertaken directly
**Governance costs**
_Includes accountancy fees & other legal fees_|**Total 2024**
**£**
245
**Total 2024**
**£**
0
30,417
24,433
54,850|Total 2023
£
68| |---|---|---| |||Total 2023
£
0
11,929
22,070| |||33,999| ## **5 Project Costs** In the financial year to 29 February 2024 there were no costs directly associated with any specific projects (2023: £nil). 10 ## **FOUNDATION FOR WATER** ## **NOTES TO THE ACCOUNTS For the year ended 29 February 2024** ## **6 Charitable Activity Costs** |**Activities undertaken directly**
Other costs relating to Administration and Finance comprising:
Printing, postage and stationery
Bank charges
Interest on loans
Books and publications
Advertising
Telephone and fax
Legal and professional
Insurance
IT Supplies
Sundry expenses
Rates
Repairs and Maintenance
Heat, Light and Power
Disposal of fixed assets
Staff costs|**Total 2024**
**£**
0
158
1,235
0
639
391
24,433
2,749
55
0
1,540
9,580
12,525
0
1,545
54,850|**Total 2023**
**£**
11
213
1,595
0
1,155
372
22,070
2,486
80
0
2,675
1,878
0
0
1,463| |---|---|---| |||33,999| ## **7 Trustees** None of the trustees received remuneration during the year. 11 ## **FOUNDATION FOR WATER** ## **NOTES TO THE ACCOUNTS For the year ended 29 February 2024** ## **8 Tangible fixed assets** |**Cost**
At 28 February 2023
Revaluation
Disposal of fixed asset
At 29 February 2024
**Depreciation**
At 28 February 2023
Charge in the year
Depreciation - disposal
At 29 February 2024
**Net book Value**
At 28 February 2023
At 29 February 2024|**Land and**
**buildings**
650,000
0
0
650,000
0
0
0
0
650,000
650,000|**Plant &**
**Machinery**
0
0
0|**Total**
650,000
0
0| |---|---|---|---| |||0|650,000| |||0
0
0
0
0
0|0
0
0| ||||0| ||||| ||||650,000| ||||| ||||650,000| The purchase price of the building was £300,000. On 16 September 2020 RH & RW Clutton LLP carried out a market valuation of the land and property at Water Science Building, Emerson College, Forest Row which concluded that the property should be valued at £650,000. Gains on properties are not subject to tax where the gain is applied for the charity's charitable purposes. Accordingly, we have not made provision to tax on the property's increase in value. ## **9 Creditors falling due within one year** |Other creditors
Accruals|**Total 2024**
**£**
2,640
0
2,640|Total 2023
£
0
0| |---|---|---| |||0| 12 ## **FOUNDATION FOR WATER** **NOTES TO THE ACCOUNTS For the year ended 29 February 2024** ## **10 Creditors: amounts falling due after more than one year** |**Creditors: amounts falling due after more than one year**||| |---|---|---| |Related party loans
Other loans|**Total 2024**
**£**
139,822
15,400
155,222|**Total 2023**
**£**
123,004
23,100| |||146,104| A loan from Software AG Stiftung of DM500,000 in 2001, in the form of a restricted covenant, guaranteed on the Foundation for Water's building for as long as it is used to support water related research and education in line with John Wilkes' work, and to be converted to a donation at a rate of 4% (£7,700) annually over 25 years on a straight line basis. The total as of 29 February 2024 is £15,400. A mortgage is also held on the building, including accumulated interest, of £71,211 (2023: £81,976) by the family of a Trustee, Mr Thomas Wilkes. Interest is payable on the loan at 3.0% per annum. A former Trustee, Professor C Giorgetti, has made an additional interest free loan to the Foundation, of £24,119, which added to the loan already outstanding totals £65,147 (2023 £41,028). 13