Charity Registration No. 1168060
WALTERS FAMILY CHARITABLE FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
(CHARITABLE INCORPORATED ORGANISATION)
WALTERS FAMILY CHARITABLE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr R Walters |
|---|---|
| Mrs S R Walters | |
| Mr M Walters | |
| Mr S Rose | |
| Charity number | 1168060 |
| Principal address | 55 Ennismore Gardens |
| London | |
| SW7 1AJ | |
| Registered office | 55 Ennismore Gardens |
| London | |
| SW7 1AJ | |
| Independent examiner | D Patel FCCA |
| Gerald Edelman | |
| 73 Cornhill | |
| London | |
| EC3V 3QQ | |
| Bankers | Metro Bank |
| 1 Southampton Row | |
| London | |
| WC1B 5HA |
WALTERS FAMILY CHARITABLE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Statement of Trustees responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 - 12 |
WALTERS FAMILY CHARITABLE FOUNDATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 5 APRIL 2025
The Trustees present their annual report and accounts for the year ended 5 April 2025.
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 governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019)
Objectives and activities
The charity's objects are as follows:
a) the promotion of good health and well being people of all ages wherever situated both at home and abroad b) the advancement of education of young people both at home and abroad c) the pursuit of such other philanthropic causes as the Trustees determine
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The Trustees review all applications received be they from individuals, institutions or other projects in consultation with their contacts in the relevant sectors of operation. Decisions are then made as how to best utilise the funds available in support of the chosen party and in line with the aims and objectives of the charity.
Achievements and performance
During the period grants were paid to worthwhile causes of £192,878 (2024:£157,500). The main grants were made as follows:
Jewish Care- sum of £80,000 in support of services provided including their BeFriending programme
Yesodot Letzmicha Dror- the sum of £40,000 towards the eductaion and empowerment of young people and those on the social periphery to contribute to communities in Israel.
Please see note 6 for detailed breakdown of other grants paid.
Financial review
The net expenditure for the year was £33,857 (2024: £14,472).
The total income received was £162,589 (2024:£146,088). This primarily arose from donations arising from the family interests of the trustee Mr R Walters.
Total expenditure amounted to £196,446 (2024: £160,560) which consisted of grants made as described earlier
in this report of £192,878 and support costs of £3,568.
Having reviewed the charity's financial forecast and expected future cash flows , the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, a period of not less than 12 months from the date of approval of these financial statements.
Accordingly, the Trustees continues to adopt the going concern basis in preparing the financial statements for the year ended 5 April 2025. Further details regarding adoption of the going concern basis can be found in note 1.2 to the financial statements.
The reserves at the balance sheet date totalled £146,765. This level of reserves is not sufficient to ensure that the planned commitments of the charity can be met. The Trustees acknowledge the need to provide additional funding to enable activities to continue at their current level.
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.
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WALTERS FAMILY CHARITABLE FOUNDATION
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 5 APRIL 2025
Structure, governance and management
The charity is a charitable incorporated organisation governed by a constitution dated 10 November 2015.
The Trustees who served during the year and up to the date of signature of the financial statements were:
Mr R Walters Mrs S R Walters Mr M Walters Mr S Rose
Additional trustees can be appointed at the discretion of the board.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The charity is administered on a day to day basis by the Trustees who regularly hold informal meetings to discuss ongoing issues arising. All Trustees give freely of their time and no remuneration or benefits are paid to them.
The Trustees report was approved by the Board of Trustees.
Mr R Walters
Trustee Dated: 15 December 2025
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WALTERS FAMILY CHARITABLE FOUNDATION
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 5 APRIL 2025
The Charities Act 2011 requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable incorporated organisation for that year.
In preparing these accounts, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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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 adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust constitution. They also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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WALTERS FAMILY CHARITABLE FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WALTERS FAMILY CHARITABLE FOUNDATION
I report to the Trustees on my examination of the financial statements of Walters Family Charitable Foundation (the charity) for the year ended 5 April 2025.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act)
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act.
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2 the financial statements do not accord with those records; or
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3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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
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.
D Patel FCCA Dated: 15 December 2025 For and on behalf of Gerald Edelman Chartered Accountants 73 Cornhill EC3V 3QQ
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WALTERS FAMILY CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
| Notes Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 5 Net expenditure for the year Fund balances at 6 April 2024 Fund balances at 5 April 2025 |
2025 £ 161,250 1,339 162,589 196,446 (33,857) 180,622 146,765 |
2024 £ 143,110 2,978 146,088 160,560 (14,472) 195,094 180,622 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
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WALTERS FAMILY CHARITABLE FOUNDATION
BALANCE SHEET
AS AT 5 APRIL 2025
| 2025 | 2024 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||
| Current assets | |||||||
| Debtors | 10 | 60,375 | 28,125 | ||||
| Cash at bank and in hand | 92,750 | 155,377 | |||||
| 153,125 | 183,502 | ||||||
| Creditors: amounts falling due within | 11 | ||||||
| one year | (6,360) | (2,880) | |||||
| Net current assets | 146,765 | 180,622 | |||||
| The funds of the charity | |||||||
| Unrestricted funds | 146,765 | 180,622 | |||||
| 146,765 | 180,622 |
The financial statements were approved by the Trustees on 15 December 2025
Mr R Walters Trustee
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WALTERS FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
Charity information
Walters Family Charitable Foundation is a charitable incorporated organisation incorporated in England and Wales. The registered office is 55 Ennismore Gardens, London SW7 1AJ .
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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WALTERS FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Any irrecoverable VAT is charged against the expenditure heading to which it relates.
Grants payable are payments made to third parties in the furtherance of the charitable activities of the Trust. Grants are recognised in the accounts when paid or when the Trustees have agreed to pay the grant without condition. At the end of each year a review is carried out in respect of future charitable commitments to be made and a note to the accounts in included in respect of the total commitments.
Charitable expenditure includes grants payable, consultancy fees and trustee expenses incurred regarding the provision and supervision of charitable projects. Support costs are also included under charitable expenditure in line with the Statement of Recommended Practice.
Support costs comprise governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to independent examination and legal fees.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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WALTERS FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.8 Taxation
As a registered charity the Society is exempt from taxation on its activities which fall within the scope of part 10 ITA 2007 and section 256 of the Taxation of Chargeable Gains Act 1992.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Donations and gifts | 161,250 | 143,110 |
The donations were received from the family interests of the trustee Mr R Walters.
4 Investments
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Interest receivable | 1,339 | 2,978 |
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WALTERS FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
5 Charitable activities
| Grant funding of activities (see note 6) Support costs Governance costs |
2025 £ 192,878 507 3,061 196,446 |
2024 £ 157,500 - 3,060 |
|---|---|---|
| 160,560 |
6 Grants payable
| Grants to institutions: Beit Halochem UK Board of Deputies Chai Cancer Care CAA Community Security Trust Jewish Blind Society Jewish Care JTV Yesodot Letzmicha Dror Meir Baal MDA UK Parness Rays of Sunshine Stand With Us Tikva UK Half Way House UJIA United Haztallah WHII Youth Aliyah Other |
2025 £ - - - 2,500 10,000 - 80,000 5,400 40,000 2,500 - 7,500 3,000 2,500 10,000 15,478 - 10,000 2,500 1,500 192,878 |
2024 £ 10,000 5,000 2,500 - - 3,000 20,000 5,000 30,500 - 10,000 - - - 40,000 20,000 10,000 - - 1,500 |
|---|---|---|
| 157,500 |
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WALTERS FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
7 Governance costs
| Independent examination fees Accountancy |
2025 £ 2,400 661 3,061 |
2024 £ 2,400 661 |
|---|---|---|
| 3,061 |
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No expenses were paid to the trustees in the year.
9 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | |||
|---|---|---|---|
| 2025 | 2024 | ||
| Number | Number | ||
| Total | - | - | |
| 10 | Debtors | ||
| 2025 | 2024 | ||
| Amounts falling due within one year: | £ | £ | |
| Income tax recoverable | 60,375 | 28,125 | |
| 11 | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accruals and deferred income | 6,360 | 2,880 |
12 Share capital
The company has no share capital being a Charitable Incorporated Organisation
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WALTERS FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025
13 Related party transactions
During the year, the charity received donations of £161,250 (2024: £143,110) from the Trustees of the charity.
There were no other related party transactions in the year under review.
14 APB Ethical Standard relevant circumstances
In common with many entities of our size we use our independent examiners to assist with the preparation of the accounts
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