Charity registration numbèr 1168947 IEngland and Wales) Company reglstration number 09327637 WATERMOOR HOUSE R C H ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
WATERMOOR HOUSE R C H LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr K B8dcock Earl A C B Bathurst Mrs J Carter DrSROwen MrJ WLamus Charfty number (England and Wales) 1168947 Company number 09327637 Reglstered offi¢e Watermoor House Watemioor Road Cirencester Gloucestershire United Kingdom GL7 1JR Auditor BK Plus Audit Limited 6 Manor Park Business Centre MacKenzie Way Swindon Village Cheltenham Gloucestershire United Kingdom GL519TX
WATERMOOR HOUSE R C H CONTENTS Paga Chaimian's ststement Trustees. report Independent audilorfs report 8-10 statement of financial a&iwb'es 11 ststement of financial position 12 statement of cash flows 13 Notes t¢ the financial statements 14-24
WATERMOOR HOUSE R C H CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 AUGusf2025 After a challenging year in 2024, Watermoor House set its targets for this ye8r as one of change under the leadership of our new Home Manager, who we welcomed to Watermoor House at the start of this finanaal year. She was strongly sUPPOrted by our Business & Operations Manager, who joined Walemioor House in thè prèviou3 quarter. Our high-level organi3alional goals werè to reverse the previous year's low occupancy ratès and reboot our company culture to drive both operational improvements and finanaal recovery. We knew these were ambrtious goals that would require strong leadership. persistence, and refom across all aspects of our opÈrations. Throughout all this, we were determined lo maintain a caring, homely. happy atmosphere for Watemioor House residents and we are proud to have achieved this. Administrative improvements achieved induded more nuanced assessment of residents, care need3 prior lo admission, tightening of financial controls, changing stsff training practices to indude more engaging and hands-on training methods and upskilling in areas such a5 dementia management and assessment of mental capaaty, improved staff induction and updating, then embedding in many of our poliaes. Our new Kitchen Manager led a resel of staff worf(ing pra¢tice5 for our catering and improved per50nalisalion of menus to ensure they better meet the individual and varied needs and preferences of our residents. We introduced more visible trustee involvement and built doser relats'onships wth local heaych professionals such as Gloucestershire County Council departments dealing care and support for older people and local GP5 and introduced regular Saturday friends & farnity coffee momings for residents, their friends and family members, trustees and other volunteers and management to mix in an informal setting. As anticipated, some staff had difficuttie$ adjusting to these changes but through trustees and management working t¢gelher wich staff, we have begun to effect real changes in the way Vvatermoor House works. The use Of agency stsff for resident care has reduced to near-zero levels. occupancy rates gradually increased in the year as did our financial outtum, significantly reducing the previous year's deficits. We recognise that we still have a way to go to achieve the balan of residents required to consistenuy generate ongoing surpluses so that we ¢an build reserves and invest in renovations of our beautiful Grade 11 listèd premises and gTounds. We have made a start on these this year as well. Redecoration of our dining room was completed in February with minimal disruption to residents. routines. who now enjoy thè lighter, brighter ambience for meals. An arèa in which Watemioor House has exeelled for many years is end of lif& carÉ. W& moved to elevate this by seeking Gold Standard recognition. Led by our new Home Manager who brought expertise in this area, more fomal training across management and stsff was carried out with extensive dowmentation of the outstanding end of life care d¢livered. We now offer a comfortable, welcorning family room for use by rtlatsves to enable them to remain ose lo residents during their final days. We await our assessment and achievement of the Gold Standard next year. Through all this change, making daily living enjoyable, stimulating and safe for residents continued as usual. Our de programme of in-house activities led by our in-house actiwties coordinators plus entertainers and volunteer5 from the comrnunity, specialist exercise & fitness professionals for physitsl stimulation in a fun setting, celebrations of seasonal festivals and residents, birthdays, local OLrtings and parbcipation in community events is described more fvlly in the Achievement and Performan¢e Section below. Finally, we wish thank residents and their loved ones for all the support they have given us this past year, and we look forward with optimism forthe coming year wth them. DR S R Owen-chair If a02
WATERMOOR HOUSE R C H TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The trustees who are also directors of the charity for the purposes of tre Companies Act 2006, present their report th the financial statement5 of the Charty for the year ended 31 August 2025 The finanryal statements have been prepared in accordance wth the aceounling policie5 set out in note 1 to the financial statements and cornply with the Charity's governing document, the Companies Act 2006, FRS 102 'The Finanaal Repong Stsndard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charib"es'. Statement of Recommended Practice applicable to charyiies preparing their accounts in a¢¢ordance Imth the FinancAal Reporting Standard appIlble in the UK and Republic of Ireland IFRS 102)" Objectives and a¢tivitie5 The Company's eharitable objectives are lo provide care for older people in GIouStr$hl', as stsled in our goveming do(xJrnent, 'the relief of the needs of elderfy people by the provision of such housing, care and amenities as appropriate for their conditions of life.. It ¢urrenUy operates a residential home providing a mix of permanent accommodation and respite care for up to 39 elderfy residents in appealing and safe surroundings wth constant care and attention. Our short-term aim is to provide most the requirements to maximisè thè quality ¢f life for our residents at an affordable cost. Our longer-lerm goal is to enable us to ntInue ¢Joing so for Others like them in the fvture. Our strategy to achieve this is to operate eff aenuy at a viable level ¢f attpanCY wth well trained staff who perforrn their duty'es in a professional yet friendly manner. Our guiding principle is that our Home is our residents, home. W8tèrmoor House currendy prowdes accommodation, meals and domesti¢ services, personal ¢are, ¢ommunal facilrf£ies, a wide range of activities and other serwces to assist residents. daily living in a caring and personal atmosphere. INe arrange visits to and frorn healthcare providers and, unlike many care provideTS, we make no additional charge frjr lran5porb.ng and accompanying residents to hospital and doctovs visits. We provide daily a¢knvities, outing5 for residents and arrangements for hairdressing and chiropody in the Home for residents. In addition to ensuring the smooth running of the Home, the Trustees remain aware of the longer-term changes in the ¢are industry and the need to take appropriate action to remain effiaent and continue to provide care at an affordable cost. Residents tend to come into care later in life. in rn0 frail condition requiTrng more intense support. The effects of the pandemie continue to affect our finanrial perfornian. To date, no Watermoor House resident has been seriously ill, qUId hospitalisation or passed away from Covid. The Company is a registered tharity. Govemance and strategic lèadérship are provided by the Board of Directors, all of whom are trustees and provide their services as unpaid volunteers. Public benefit In planning the ¢haritsble companl3 activities. the trustees keep in mind the Charity Commission's guidance on public benefiL AcsS to the Home is available to all whether it be as one of our permanent residents or respite dients, or as a visitor on an activity or opèn day. Thè foeus of thé Charity's aetiwb.es during the year Is set tsui below under'achievements and perfomanee., which explains the delivery by the Charity of public benefit.
WATERMOOR HOUSE R C H TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Achievèments and perfomiance Significant activities and achievements against objectives W8termoor House RCH subsidises the fees for a significant proporbon of residents who are funded by Social Serwces., well over 40% of residents throughout this year. Additionally, with no discrimination between fvll fe paying dients and others, additional special needs such as a55iSted activities, accompanied transport to medical appointments, spacial diets and assisted feeding are provided at no charge regardle55 of fee status. We hav¢ continued to provide a varied and busy activitès schedule to meet the needs and interests of all our residents well beyond the levels required for adequate care at no charge regardless of fee status. Our dedicated, qualified activities teorn, together with other members of staff, identify activitle5 to meet the different interests of our residents. Thruughout this year they havè worked wth our extemal activities partners and volunteers from the communty lo provide enrichment, stimulation, social interaction and mu¢h joy and laughter amongst residents. Our regular actiwts'es ranged from our adapted yet lively in4)ouse phy8i¢al games and amichair exerasès to suit all ability levels to weekly topical discussion groups and aftemoon filrn 5creenings', from the weekly board games. card games and word garnes sessions to Zoolab visits bringing exotic but tame animals for residents lo hold and interact th, including birds of prey and snakes. Less exotic bL5t still sociable ail d stirriLJlating are card games and themed craft sessions, through lo interactive musical entert3inments, sing-along sessions and even a magic sh¢)w. Our speaal eelebr3tions, activities and meals to mark seasonal holidays have been highlights throughout this year, including our commemoration of Remembrance Day, Easter, Halloween and, of course, Christmas complete w((h an in-house panto. Other regular activities include outings to places of lo¢al interest, joining in church and other community acivities. serapb¢¢k rnaking recalling old memories and recording new ones, crafting individualised fJ¢¢r de¢or¥lions, Chri51rnas decorations for residents, rooms and Christmas table decorations. staff continue to provide 1-tO-1 in-room activty sessions for those who cannot or choose not to join group activrties. Ea¢h residenys birthday is celebrated. We enjoyed several 1 OOth- and more than 100th- birthday parties this year wrth family members and friends from both in outside the Home. The Board monit¢rs performance across all the Home's endeavours. firstly through monthly House and Business reports to set formats. These routinely report and tra¢k ¢ccupancy, enquiries, staff levels, sid(ness and agency US8ge, training, any complaints or reportablè inadenls, quality audits, finanaal perfomiance, business and marketing activity. The Home's management regularfy ask residents to contribute thèir vièws, ttither through resident meetings which are open to sll residents and one-to-one sessions with residents individually. Our financial perfom)anee is highly geared to the level of room occupancy. Increasing overall occupancy whilst improving quality standards has been a key strategic target for Watem)oor Htsuse this ye8r. We monitor this as described above to provide us with an ongoing rneasure of marketing and operational performance which, in a time of natural change in OUT permanent residents, is a measure of the effectiveness of aur eharity's strategy. Our finanaal position this year has improved markedly from increased occupancy levels, Ihgugh not as rapidly as we wislTr.ed. The proportions of privataly fu4dad and local authorty funded residents have rernained stubbomly liY(ed towards a higher proportion of local authority funded residents than that set by our strategic targets. While our overall finan81 turnaround this year has been extremely positive, the impact of these two key occupancy measuros slowed il down. However. tre trend is very positive and we expect on our overall finan31 recovery to continue in the coming year.
WATERMOOR HOUSE R C H TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Flnaneial r8view 202412025 has béen another difficult year, but the New Horne Manager and Business Manager, recruited during the pvIouS finanrAal year, have made remarkabl¢ progress in luming around the finanaal situation for the Companyl Charity. Income for the year has been increased by £21 Ok lo £1,745k. This was achieved through improved levels of occupancy, an infjation•based increase in the fees charged to private residents and ensuring that fees for ¢ouncil funded residents faidy.'eflected the care needs of the resident. The management team also made excellent progress in controlling costs whilst achieving the higher oecupancy levels. This was achieved alongsidé over811 expenditure for the year. 1£1,750kl being only £8k10.SQAI higher than total expenditure in tre previous financial year. Vllhilst there is sb'll some way to go before the Charity achièves its tsbjèctive of generating the annual surplus necessary to ensure a sustainablè finanaal fLrture for the Charity, the reduct'on of £205k in the annual deficlt {£209k in 202312024., £4k in 2024120251 15 a remad(able athievement by the whole team at Watemoor House RCH. Tho ne interest loan agreements Mrith the private b8nefa¢tor remain in place. The coming finan31 year wll (xjntynue to be challenging as the team strive to cot)troJ ctssts 8n(J to maintaintJntrèa$é occupancy levels whilst also increasing the ratio of privatety funded residents to councAI funded residents. Going concern hilst major progress h85 been made towards ensuring the ftrtUTe financial viability of the charity much work still needs lo be done. Targets for total occupancy levels and the ratio C>f privately funded residents have been set and are being wothed towards. It is anticipatèd the ¢hange to a higher proportion of privately nded residents will initially result in lower levels of oe(yJpancy. Vthen a resident leaves Watenroor House it is relativety straighrforward to find a council funded resident, but private residents take longer to find and often take several weeks to make the necessary arrangements re their current accommodation and finan¢es before they a ready to m¢ve in. We are extremely gratefijl that our current benefactor has agreed to continue finanung the charity during thi$ ongoing transition. Trust&es are also aware that addits'onal investment is required if the property is to be adequately maintained and pd8led lo reflect increased expectat'ons, espeaally of privately funded residents. To this end the trustees ¥rtr actively working on identifying works, costs and altemative sources of funding. th the improvements already rnade year on year, plans for the current year, the support of our current benefactor and the research into alternative fvndingfinvestment streams the trustees are confident that Watermoor House can continue as a going concem. Reserves policy The Trustees have examined the requirement for free resetves, which are those unrestricted fvnds not invested in fixed assets or designated for speCfIC purpo. The Trustee5 nSider that, as a minimurn, they should aim for free reserves of £200,000. However, in the finanaal year under rewew, it has despite the very significant irnprovements not been p055ible to elirninate the need for loan support or eate reserve5. However, the increase in the borrowing requirementldeficAt at the year-end has been significandy reduced (Just an additional £4k for the yearl. The next two years wll see Some restructuring lo financing and (i is anticipated that in addition to investing the buildings a start wll be made in eatIng the rArca £200k ffnanryal reserves necessary for the long-term finanaal viability of the Companylcharity. Investment policy Under the Artides of Association, the TrusteeslDirectors have the power to invest in any way they think fit. The Trustees have considered the most appropriate policy for investing funds and have found that a balaneèd portfolio of specialised unit trusts, designed for the charty section, would meet their requirements lo generate both income and capital growth. The Trustees mon(tor market changes but still ¢onsider this type of invèstment portfolio will be the most appropriate strategy for investing the Company's reserves.
WATERMOOR HOUSE R C H TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGusf2025 Plans for fvture periods Goals for the ctsming year are to.. Inuo85e occupancy numbers and proportion of privately funded residents to levels that consistently generate significant ¢peralional surpluses Continue our progress to regain the Home'5 GOOD rating by the CQC To chsnnel surpluses into investment in the building. equipment and rebuilding reserves. all of which knrill help secure the future of Walerrnoor House. Structure, governance and management The tharitable company 15 limited by guarantee, having no Share capitsl. It is established under a Memorandum of Assoaation, whiokn sets out the objects and powers of the tharttable company, and is govemed under rfc5 Arb"de5 of Assoaation, as amended by Speaal Resoluti¢ns dated 20 April 2016 and 11 August 201 S, respectively. The Trustees, whts are also the directors for the purptsse of company law, and who served during the year ¥nd up to the dale of signature of the financial stsl¢ments were-. Dr K Badcock Ear£ A C B Bathurst Mrs J Carter DrSROwèn Mr J WLamus Revd P Light (Resigned 22 January 2025} RÈeruitm¥nt and appointment of trustees New Trustees wlh appropriate life and professional skills are appointed by the members to strengthen the Board for the future good Df the Company. Every new Trustee must have an enhanced Disclosure and Barring Service check conducted before tsking up appointment and undergoes an induction pro$8. TFiis year f<everend Penny Light retired after five years as an active Trustee and many more years leading prayers and Holy Cornmunion with residents in-house On a month. We all thank her for her valued seNc8. She continues as a friend and supporter of Watèrmoor House in her retirement. Organisational structure The charity is administered by the Board of TNslees all of whom give their time for no finanual reward. There are no standing subcommittees bul working o)mmittees of Trustees and Officers are appointed a5 the Board deerns ne$sary on an ad ho¢ basi5. A Home Manager is appointed by the Trustees to manage the day-iowday operaOnS of the Company. This is SUPPOrted by a Business and Operations Manager. To facilvtate èffectivé operations. they have delegated authority within temis of delegation approved by the Trustees for operational rnatters including finance, employment, purchasing, compliance with regulations and dealing with residents. needs and requirements. Deasions concerning the pay and remuneration of key management personnel are made by thè Board in conjunction witr HR consultants by reference to the salaries paid by other similar lo¢al organisalions. All pay rates are reviewed annual. Inductlon and tr31ning of trustees New Trustees undergo a formal pro¢e$s for induction. It aims to familiallse the new member wth their legal obligations as wèll 8$ the werkings of Watermoor House and ils personnel. They meet one-tone with the Chair, other Board reberS and senior managernent and are tsken on a tour of Watermoor House. They receive a p8d( Of wrttten materials including recent Board papers, the last Annual Report and documents from the CQC and Charity Commission. Through the induction process new trustees are infornied of the general operational activities of the Home, finanaal reporting, obligations of being a Company director and a regISted charity and the regulatory framework in which the Company operates. The Company's Board members are updated on the legal requirements for Trustees on an ongoing basis by the C¢rnpany's Officers.
WATERMOOR HOUSE R C H TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGusf2025 Risk Management The charitable Company ¢arries out a fornial annual risk review procedure and updates its continuty plan in which major risks are identified and brought to the attention of the Board, which then deudes the appropriate course of action to avoid the risk, share or transfer it. mitigate or expl¢it it. These procedures have highlighted risks that might arise through non-compliance in the ever-changing regulatory regime. Tisks to residents. safety and financial risks. The Board has takèn appropriate action in resp¢nse to them. With the added help of fundraising, it is the intention to create suffient reserves in the future to further mitigate finanaal risks and this policy is reviewed regulady at 8oard meetings by referen to current management accounts. The company has required a small increase in borrowing in the current year 1£4kl but expects to elirninate the defiat as occupancy improves and finanaal restrueturing is undertaken, leading to a start in creating the long-term finan31 reserves reqUId to rninimi5e risk. We wll then (x)ntinue to bUild our fe SeThe$ to resources in the event of adverse condition5 and ensure addrtion81 long-terrn resilience for the Company Regular statutory inspections for health and safety, food and hygiene, fire and by the Care Quality Commission are reported through the offirS to the Board and assist in highlighting operational risks. Statèmènt of Tru3tees' responsibilities The Trustees. who are also the di ctors of emOOr House R C H for the purpose of company law, are responsible for preparing the Trvslees, Report and the finanty31 ststemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company18w requires the Trustees to preptt finan¢i81 ststemenls for each finan¢ial 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, induding the income and expenditure, Df the tharitsble ¢ompany for that year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and tren apply them consistentty., observe the methods and principles in the Charib'es SORP., - make judgements and estimates that are reasonable and prudent., and ppa the financi81 stslements on the going con¢em basis unlèss it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting reTh)rds that disrAose knllth 8$onble accuracy at any time the ffnancAal position of the Charity and enable thern to ensure that the finanaal statements comply the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and 17ence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor In accordance with the company's artides. a resolution proposing that BK Plus Audit Limited be reappointed as auditor of the company will be put at a General Meeting. This report has been prepared in accordance with the speoal provisions of Part 15 of the Cornpanies Act 2006 relating to small companies.
WATERMOOR HOUSE R C H TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Disclosure of infomiation to audltor Each of the Trustees has confimied Ihat there is no infomaltsn tsf which they are awarè which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate step$ to identrfy such Televant infomab.on and to establish that the auditor is aware of such information. The Trustees, pOrt was approved by thè Board of Trustees. DrSROwen Trustee
WATERMOOR HOUSE R C H INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WATERMOOR HOUSE R C H Opinion We have audited the finanoal ststements of &terM00r House R C H lthe 'Charity') for the year ended 31 August 2025 which comprise the statement of financial activities, the statement of finanaal position, the statement of cash flows and notes to the financial statements, including significant accounting PDlicies. The financial reportin9 framework that has been applied in their preparation is applible law and Unrted Kingdom Accounting Standard5, including Finanaal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and R8public of Ire15nd Iunffied Kingdom Generally Accepted Accounting Pracb"cel. In our opinion, the finanaal statements.. give a true and fair view of the stste of the tharrtable company's affairs as at 31 August 2025 and of it5 incoming resources and application of resources, induding its income and expenditure, for the year then ended., have been propèrty pr&p8red in accordance wf(h United ngdoM Generally Aw¢pled Accounting Practice.. have been prepared in accordance with the requirements of the Companies Act 2008. Basis for opinion We conducted Dur audit in accc*rdance with Intemati()nal Stsndards on Auditing (u IISAS lu) and applicable law. Our responsibilities under those Standards sre furt17er described tt7 the AuditoHs kysponsibilpts lor the 8(lt of the financial statements section of our report. We are independent Of the Charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Stsndard, and we hève fulfilled our other ethical responsibilities in accordance rith these requirements. We believe that the audit evidence we have obtained is suffiaent and appropriate lo prode a b8S15 for our opinion. Matsrial uncertainty relating to going concern We draw attention to the Statement of Financial Actiwties on page 11 which Tecords a deficff of £4,319 for the year to 31 August 2025, compared to a deficit of £208,985 in the previou5 accounting year, and lo the Statement of Financial Position on page 12 which records net current liabilities of £175,966. The charitable company has used its brought forward reserves to fvnd this defiat and have been tsbliged to continue loan funding both for wod(ing capital and on a bridying basis arxoss the year under report. The trustees have acknowledged the financial position and prowded their explanation of the causes of the deficit and have outlined the steps that have been taken. and are being tsken. to improve the company's finan¢ial position. They eondude that the charity can nb"nue lo operate as a going concem. The existen of recent economic challenges outside of the trustees, control, induding the speafic challenge of increasing occupancy rates lo the point that the charitable company retums to regular surplus and positive cashflow indicates that a material uncertainty exists that may cast doubt on the charitable company's ability to continue as going concém. Our opinion is not modifiad in this regard. In auditing the financial statements, we have concluded that the trustees use of the going concem basis of auntIng in the prtpafytion of the finanryal ststemenls is appropriate. Our responsibilib'es and the responsibilib'es of the trustees with regard to going conrn are described in the relevant sections of this report.
WATERMOOR HOUSE R C H INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WATERMOOR HOUSE R C H Other infomiation The other infom)ation Comprises the infomiation in¢luded in the annual report other th8n financial statements and our auditorfs report thereon. The Trustee5 are responsible for the other information contained within the annual port. Our opinion on the financial statements does not cover the other infomiats'on and, except to the extent otherwise expliatly staled in our report, we do not express any forrn of assurance conclusion Ihereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the ¢ther information is materially inconsistent with the financial statements or our knoedge obtained in the course of thé audit, or otherwise appears ttr be materially misstated. If we identify such material inconsistencies Or apparent matellal misststements, we are required to determine whether this gives rise to a material misststement in the financial statements thernselves. If, based on the work we have performed. we CLsndude that there is a material mi$ststement of this other infomiation, we are required lo report that fact. We have nothing to report in this regard. Opinions on other matters proscribed by the Companies Act 2006 In our opinion, based on the work undertaken in thè course of our audit= th¢ infonnation given in the Trustees. report for the finanaal ye8r for whith the fnantsal statements are prepared, which indudes the directors, rèport prepared for the purposes of company law, is consistent the financial statements,. and the directors, report induded within the Trustees, report has been prepared in accordance w(th applicable legal requirements. Matters on which we are required to report by exctption In the light of the knowledge and understanding of the Charty and its environment obtained in the course of the audit, we have not identified material misstatements in the directors. Ep¢rt induded wthin the Trustees, report. We hav¢ nothing lo report in respe¢X of the following matters in relation to which the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and retums,. or certain disdosures of trustees. remuneration speafied by law are not made,. or we have not rec£ived all the information and explanations we require for our audit,. or the Trustees were not enlrtled to prepare the financial statements in accordan with the small companies regime and lake advantage of the small companies, exemptyons in preparin9 the Trustees, report and from the requirement to prepare a strategic TepoTL Rèspon$lbllidès of Trustees As explained more ful in the 51aternenl of Trustees, responsibilities, the Trustees, who ar¢ also the dire¢tors of the Charity for the purpose of company law. are responsible for the preparation of the financial sl8tement5 and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material misslalement, whether due lo fraud or error. In preparing the finanaal statements, the Trustees are responsible for assessing the Charity's ability to continue as a going concern, disdosing, as applicable, matters related to going concern and uslng the golng cnTrm basis of accounb'ng unless the Trustees eitrer intend to liquidate the Charitable company or to cease operations. or have no realistic altemative but to do so. Auditor's rèsponsibilitiès for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the finanrAal statements a5 a whole are free from material misstatement, whether due to fraud or error, and to issue an audTtof s report that indudes our opinion. ReasDnab5e assurance is a high level of assurance but is n¢t a guarantee that an audit conducted in accordance with ISAS IUIQ Mrill always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggTeg*e, they could reasonably be expected to influence the e¢ontsmic deasions of users taken on the basis of these financAal statements.
WATERMOOR HOUSE R C H INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WATERMOOR HOUSE R C H O¥Mng to the inherent limitations of an audit, there is an unavoidable risk that. despitè us planning an¢J perforrning our audit in accordance with auditing standards, one or more matèrial misstatements in the financial statements may have gone undetected by our audbt. As wlh any audit, there is a high risk that irregularities and fraud will go undete¢ted where they involve matters su¢h as rnisrepresentslions from management, collusion, deliberate omissions and override of controls. It is not the role of the auditor to prevent non-compliance and we cannot be expected to detèct every instance of noTrcompliance with all laws and regulab"ons. In identifying and as8e551ng risks of maleThal misstatement in respect of irTegulariti&$, including fraud and non- mpliance with laws and regulations, our procedures included the following.. enquiries of management induding a pre audit meèting., obtaining and rewewing supporting documentation of policAes concerning tre laws and regulations applicable to the business,. understsnding how the company complies with its regulatory framework by making enquiries of management., considering the culture inherent in the ¢ompany and whether this represènts 8 culture of honesty and ethical behaviour with a strong emphasis of detection and prevention Of fraud. We assessed the susceptibility of the companvs finanrial statements to material misstatement and considered how fraud might occur. The audrt prorEdures perfomed induded, but were not limited to.. challenging management 8ssiJrnplions and estimates., dent'fying and tèsting unusual journal entries., asse¥sing how the relevant laws and gUlatiOns have been complied rith and noting any instances of non compliance., reviewing the finanaal st*emenls for compliance with relevantAccounting Standards and accounting legislation appli¢able to a small company., considering how those charged with goveman¢e have addressed the possibility of an override of essential controls or other Influen over the finanaal reporbng processes. In addition, we also considered other nDn financial laws relevant to the company. These do not necessarily have a direct influence on the finanaal statements but rn19ht affect the company's ability to operate. A futher description of our responsibilities is available on the Finano81 Reporting CouncAI's website at https.'Il ¥NMAy.frc.org.uklauditorsresponsibilib'es. This des¢ripknon fomis part of our auditorfs report. Use of our report This report is madè solely to tre charitable cornpany's members, as a body, in ac¢ord¥n¢e Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we Tnight state to the charitable company's members those matters we are required to slate lo them in an auditor's report and for no other purposè. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charrft8ble company's members as a body, for our audit work. forthis report, orfor the opinions we have forTned. Roger Downes FCA Isenlor Statutory Auditor) For and on behalf of BP< Plus Audit Limited, Statutory Auditor Chartered Certified Aountants 6 Manor Park Business Centre MacKenzie Way Swndon Village Cheltenham Gloucestershire GL519TA Date.. 10-
WATERMOOR HOUSE R C H STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unr95tFiCted nd5 RestriGtpd fund5 Totsl Unrestrictsd funds 2024 R8Stri¢ted fund5 To 2025 2025 2025 2024 2024 Nots$ Incomè from.. Donation5 and legaoe5 Charitable activities Investments 5,777 1,739,517 5,777 1,739,517 3,046 1,528,785 3.201 3,046 1,528,78S 3,201 Totsl in¢¢)mo 1.745,299 1,745,299 1,535,032 1,535.032 Expenditure on: Charitable activfcies 1.749,618 1,749,618 1,742,477 1,742,477 Total expenditure 1.749,618 1,749,818 1,742,477 1,742,477 Net gainslllosses) Dn investmènts 11 11,540) 11,5401 Nèt expenditure 14,3191 14,319) 1208,985) 1208,9851 Transfers between fijnds 4.Cf4 {4.0641 Net movement in funds 1255} (4,0641 14,3191 {208,9851 {208,9851 Rè¢OnciliaOn of funds: Fund balanS at 1 September 2024 599,467 4,064 603.531 808,452 4,064 812,516 Fund balan¢es at 31 August 2025 599.212 599,212 599,467 4,064 603,531 The notes on pages 14 to 24 form part of these financAal statements.
WATERMOOR HOUSE R C H STATEMENT OF FINANCIAL POSITION ASAT31 AUGusf2025 2025 2024 Notss Fixed assets Tangible assets 12 775,178 785,571 Current assets Stock$ Debtors Cash at bank and in hand 13 14 5,083 57,029 9.810 3,128 44,704 7,505 71,922 55,337 Creditors.. amounts falling due wtthln one year 15 {247,8881 {237,3771 Net current liabilitié$ (175.966) 1182.0401 Total assets less currènt Ilabilities 599,212 603,531 The funds of the Charity Restricted income fun4Js Unrestricted funds 17 18 4,OS4 599,467 599,212 599.212 603.531 The notes on pages 14 to 24 fomi part tsf these financAal statements. These financial statements havè been prepared in accordance wth the provisions applicable to Companies subject to the small companies regime. The finanaal ststements were approved by the Tnjstees on ........... DrSROwen Trustee Company registration number 09327637 (England and Wales) 12-
WATERMOOR HOUSE R C H STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST2025 2025 2024 Notss Cash flows from operating aetivits Cash generated frtsrnllabsorbed by) opgraty'ons 23 2.300 186,8031 Investlng •¢tivities Purchase of tangible fixed assets Proceeds from disposal of investments Investment income received 18.1001 13,489 3.201 Net cash generated from Inv¢sting activities 8,570 Net cash generdtsd from financing activities Net increaselldecreasel in cash and ca$h equivalents 2,305 (78,2331 Cash and cash equivalents at beginning of yèar 7,505 85,738 Cash and cash equivalents at end of year 9,810 7,505 The notes on pages 14 to 24 form part of these ffnanc4al statements. 13-
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 AccountFng polleies Charity information Vvatermoor House R C H is a private company limited by guarantee incorporated in England and les. The registered office 1$ M&lemioor House, Vltrdtemioor Road, Cirencester, GIOustershlre, GL7 1JR. United King(50m. 1.1 Accounting ¢onvention The financial ststements have been prepared in accordance with the Charity's governing document, the Gornpanies Act 200S. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo tharities prèparing their accounts in accordance wth the Finanrial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021" The Charity is a Public Benefit Entty as defined by FRS 102. The finanryal ststements are pparèd in sterting, whith is the fijnctional CAJrrency of the Charity. Mtsnetary amounts in these financial statements are rtsunded to the nearest £. The finanaal statements have been prepared under tt7e historical cost convention, mo(Jified to include certain financial instruments al fair value. The principal accounting policies adopted are set out below. 1.2 Going con¢em The lumaround in the charity's finanLYal performance during the yeaT 2024125 has been significant. Income increased by £21 Ok, driven by fee increases and a strategic deu5ion to admit local 8ulhority-funded residents rather than leaving Tooms vacant while waib.ng for privately funded residents-a process that typically tskes longer. stronger management practices also contributed signffiur)tly to this improvement, in parbcular. tighter cA)ntrol over agency staff dUCed costs from £51k in 2023124 to £18k in 2024125 and improved supplier agreements delivered better value for money, with energy costs falling frorn £114k to £53k. As a result, this increase in overall costs was limited lo £8k10.50AI year on year. Reducing reliance on agency staff also had a positive impact on care delivery, providing residents wth greater cAJntinuity through farniliar stsff. though the foreeast surplus of £56k was not achieved. the near break-even result of a £4k defiat demonstt¢S clear progress and indicates that the ¢ompany is on track to meet Its longer-ierm flnanclal objectives. Performance in 2025126 to the end of April has been disappointing. with a defiut of £41k compared w(Éh a budgeted surplus f)f £17k This variance was driven by three main factors.. residents transitioning from privatè funding to local authority fvnding a higher number of resident deaths due to ag&related factors (You will have noted in the Trustees, report that a number of residents celebrated exceeding the age of 100.1 a proactive de¢isien to redu vacancy levels by accep*ng more local authority-funded resldents. resulting in a net income reduction of £68k from pemanent resident fees Despite these thallenges, rn1 performan¢¢ has improved. Both Mar¢h and April recorded small trading surpluses, and the c051 control measures introduced have delivered savings of £7k against budget to dale. Vwiile progress in increasing o¢()Jpancy levels and improving the proportion of privately fvnded residents has been slower than anticipated, the trustees are satisfied that both are trending in the right direction and will be achieved. Forecasts for 2026127 indicate an annu31 surplus of £32k. Continued extemal financial support has been fomially agreed, and additional financAal re51nJcturing options are under consideration. These measures will support completion ofthe recovery programme. Accordingly, the trustees have prepared the financial statements on a goin9 eoncem basis. 14-
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting pollelès (Continued) 1.3 Charitsble fvnds Unreslrieted fund$ can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds comprise unrestricted funds that have been set aside by the trustees for parbcular purposes. Restricted funds Can only Pje used for partioJlar restricted purposes within the objects of the eharity. Restrictions arise when speafied by the donor or when funds are raised for particular restricted purposes. Further ¢xplanation of the nature and purp¢x of eath fund is induded in the notes to the financial slatemenls. 1A Income All income is recognised in the Statement of Financial Actiwties once the charty h88 enb"demènt to thè funds,- it is probable that the incA)rne wll be received and the arnounl can be measured reliably. Residential care Invoices are raised in advance on the 1st of the month for every resident's Month caTe fees. Income is recognised in the financAal 5tsternenls at the ptsint of invoicing. Donations and Legacies Donab"ons and lega¢ie8 are included in the year in which they are receivable, which is when the tharity becomes entitled to the resource. In accordance with this policy, legacies are induded when the charity is advised by the personal repSentativeS of an estate that payment wll be made or propety transferred 3nd the amount involved can be quantiffed. Investmènt ineomo Inve5trnent income is induded in the year in which it is receivable. Other income Other Inrne comprises rental income and grants. Rental income, from tre letting of the non-invethenl property, is payable in advance per calendar month and is recognised in the period to which il relate5. Afthough 'The Lodge" is let on a short-teTm lease for rental income, the primary purpose of the propety is to support the charitsble a¢tivities of the charitsble company and the intention is that It 15 kept for a supported living house. The Lodge is located wthin the grounds of Watemioor House and has no sep8r3te leg81 title to that of WatermooT House filed Tmth the Land Registry. Gronts, induding Government grants, are recognised when the chaTity 1$ entitled lo receipt. Where entrtlement occurs before the income is received, the InMe is accrued. 1.5 Expendlture Liabilities are recognised a5 expendituty as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits wll be requirèd in setdement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an a¢¢ruals basis and ha5 been dassified under headings that aggregate all c051s related to the category. Vvhere c051s cannot be diredy attributed to parbcular headings they have been allocated to activitie5 on a basis consistent with the use of resource5. 1.6 Tangible fixed assets Tangible fixed assets are inits'ally measured at cost and subsequentty measured at cost or valuation, net of depreciation and any impaimient losses. 15.
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting poll¢ies Icontinuedl Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their Useful lives on the followng bases.. Freehold land and buildings Fixtures and fitb.ngs Minibus Not depreciated 10% on reducing balance 25Vo on reducing balance aepreriation has not been provided on the freehold bijildings as the Trustees considèr that the residual value will exceed the book value. No depreatIOn is prowded on freehold18nd. Tangible fixed assets are capitalised when they are initially acquired by the charity- SUbSUent expenditure on tangible fixed assets is written off to the Statement of Finanaal Activities unless it replaces or restores a speryfically identy'fied cornponent within the fixed asset tsr ènhances the asset. A88els indiwdually costing under £1,000 are written off to the Stslttment of Finanaal Actiwties. The gain or105s arising on the disposal of an asset is detemiined as thè difference btheèn thÈ sale procèeds and the carying value of the asset and is recognisèd in the statèrnt of finanual activities_ 1.7 Stocks Stocks arè valued at thtr lower of ¢>JSt and net realisable value, after making due allowance for c*bsolete and Slow moving items. 1.8 Financial instruments The charity only has finanaal assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their $ettl¢mpnt lUC. Debtor¥ Trade and other debtors are recognised at the settlement amount. Prepayments are valued al the 8rntrunl prepaid. Cash at bank and in hand Cash a+ bank and in hand indudes cash and highly liquid investments with a short maturity of three months Qr less from the date of acquisititsn or opening of the deposit or similar account. Liabilitiès Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event. i( is probable that a transfer of economic benefit will be required in setdement and thè amount of the settlement n be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates il will pay to sèttlè thè debt. 1.9 Taxation The charty benefits from rates relief and is exempt from corporation tax on its chaTitablÈ activities. It is not, however. exempt from VAT and irrecoverable VAT is induded in the $t of those items to which it relates. 1.10 RetiMÈnt bènefits The charitable c¢mpany operates a defined contribution pension stheme. Contributions payable to the charitable companys pension stherne are charged to the Statement of Financial A¢tivitie$ in the period to which they relate. 16-
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Critical accounting estimates andjudgèments In the applition of the Charity's accounting poliues. the Trustees are required to make judgements, eslimales and assumptions about the Izrying arnount 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 dhffer from these estimate5. The estimates and underfying assumptions are remewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects oyly that period, or in the period of the revision and future periods where the revision affects both current and future periad$. Depreciation Write down of the value of tangible fixed assets over their expected useful lives. Income from donations and legacie5 Unrestrithd fvnds Unre5tri¢ted fundJ 2025 2024 Donation5 and gnls 5,777 3,046 Income from charitable activities Unrestricted funds 2025 Unr8Strictsd funds 2024 Charitable activities Received Trom re5ident5 Received from Lo¢al Authority Income from Lodge Other fees 1,080,731 636,771 10,200 11.815 1,038,882 480,896 9,007 1,739,517 1,528,785 Income from investments Ufiresthcted Unr8stricted funds funds 2025 2024 Interest re1vable 3,201 17-
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Expgnditure on chaFitsble activitigs Charitsble activities 2025 Charitable activities 2024 Direct ¢osts Staff costs Depreciation and irnpairment Subscriptions and registrab"¢n fees Light and heat Motor vehicle expenses Post, stationery, advertising and sundriès Legal and professional fees Equipment rental and maintenan Other house expenses Food Property maintenance & repairs Other property expenses Accountancy and payroll Lodge costs Agency staff costs 1,308.284 10,392 6,101 53,281 2,958 98,181 1,040 44,794 38,456 91,375 33.301 27,093 2.860 4,764 17.908 1.183,414 11.853 5,893 114,357 4,012 114,350 1,272 42.345 38.795 93,385 39.373 26,008 3,750 1.441 50,929 1,738,788 1,731.177 Share of support and govemance costs (see note 71 Governance 10,S30 11,300 1,749,618 1.742.477 Analysis by fund Unrestricted funds 1,749,618 1,742,477 Support costs alloeatod to a¢tlvlti¢s 2025 2024 Auditors remuneration 10,830 11,300 Analysed between: Charitsble activrftie$ 10,830 11,300 18-
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Net movemènt in fund 2025 2024 The net movement in funds is stated after ¢hargingl1credng). Fees payable to thè d)arWs auditor. for the audit ¢f the chanty's financial statements - for other finanaal seNces DeprecAalion of owned tangible fixed assets 8,660 2.170 10,392 9,000 2.300 11,853 Trustees None of the Trustees lor any persons connected them) ¢¢iVe gny remuneraliDn or beneffts from the Charity during thè year. Trustees. expenses There were no tnjstees, expensés paid f¢r the year ended 31 August 2025 nor for the year ended 31 August 2024. 10 Employee8 The av¢rage monthly number of employees during the year w8S'. 202S Number 2024 Number Administration Support 10 37 38 Total 47 46 Employment costs 2025 2024 Wages and 3alaries Social security costs Other pension costs 1,175,909 106,961 25,414 1.075,495 85,139 22,780 1,308,284 1,183,414 There were no employees vthose annual remuner3tion wa$ more than £60.000. Remuneration of key management personnel Th& key management personnel of the Chartty comprise tre H¢me Manager, Deputy Home Manager, Business Manager, Finance offir, and Office Manager. The total ¢tsst to the Charity of the key management pèrsonnel was £192,40812024.' £167,187). 19-
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 11 Gains and lo$$es on investmènts Ur>re51ri¢tsd fvnd5 UnT68tr4ctod *unds 2024 2025 Gainslllossesl arising on.. Sale of investments 11,5401 12 Tangible fixed assets Freehold land Flxtures and and busldings ffttings Minibu5 Total Cost At 1 September 2024 689,416 221,267 24,995 935.678 At 31 August 2025 689,416 221,287 24.995 935,678 Depreciation and impairment At 1 September 2024 Depreaation charged in the year 133,021 8,415 17,087 1,977 1SO.108 10,392 At 31 August 2025 141,436 19,064 160,500 Carying amount At 31 August 2025 689,418 79,831 S,931 77S,178 At 31 August 2024 689,418 88,248 7,909 785,571 13 Stocks 2025 2024 Kil¢hen and h¢usekeeping st¢cks 5.083 3,128 14 Debtors 2025 2024 Amounts falling duo wlthln onè y•ar: Trade debtors ppaYmentS and ac¢Ned inc¢me 28,225 30,804 19,077 25,627 57,029 44,704 20-
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 15 Creditors: amtsunts falling due within one year 2025 2024 Other tsxation and social security Trade creditors Other creditors Accruals and deferred income 47,819 75,560 104.945 19,564 51,950 85,397 73,830 26,200 247,888 237,377 16 Retirèmènt benefit schemes 2025 2024 Defined contribution schemes Charge to profft or loss in re$pe¢t of defined contribution sthemes 25,414 22,780 The Charity operates a defined conlribub.on pension scheme for all qualifying employee$. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the ChaThty to the fund. Contributions payable to the fund at the balan sheet date were £4,57012024." £5,214). 17 Restricted funds The restricted fiJnds of the charity comprise the unexpènded balan3 of donations and grants held on trust subject to spérific ¢ondib"ons by donors as lo how trey may be used. At1 Saptembar 2024 Transfers At 31 August 2025 Dining room renovations 4,QS4 14,0641 Prèvious year: At1 September 2023 Trnnsfers At 31 August 2024 Dining room Tenovations 4,064 4,064 Purpos8 of restricted fund- Dining room renovation¥ Grant awarded by Mrs D K WAnstone Trust to provide fiJnding for the n0VatIon ¢f the SIdentS dining room and the patio garden adIant to the dining room. 21
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2025 17 Restricted funds (Continued) Transf between funds Transfer5 are made beeen restricted and unrestricted lunds at the end of every a¢counting period in cases where.. lil The activity of the restricted fund has come to an end and there is an unspent balance that is not repayabl& to the fvnderlsl, when the surplus is transferred to unrestricted SJnds', lill thè restricted fvnd is in defiat and has either COTne to an end or theTe is no prospect of a surplus in a later period, which the defici( is elirninated by transfer from unrestrided funds,, and liiil to transfer thè value ¢f tsngible fixed assets from restricted lo unrestricted fiJnds when the assèt has been purchased from a restricted fund donation but is held for a general and not a restricted purpose. 18 Unrestricted fund$ The unrestricted fvnds of the charity ty)mpri5e the unexpended balances of d¢nalions and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds whith have been set aside out of unrestricted funds by the trustees for sperific purposes. At1 Strptsmber 2024 In¢oming Resources resources expended Transfers Gains and At 31 August losses 2025 General funds 599,467 1,745,299 {1,749,6181 4,064 599,212 Previous yoar. At1 September 2023 Incoming resourcas Resources oxpènded Transfors Galns and At 31 August losses 2024 General fvnds 808,452 1.535,032 11,742.4771 11,5401 599,467 19 Anatysis of net assets between funds Unrestricted funds 2025 Restrictsd funds Total 2025 2025 At 31 August 2025- Tangible assets Current assetsllliabilitiesl 775,178 1175.9661 775,178 1175,9661 599,212 599,212 -22-
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 19 Analysis of net ats between fiinds (Continued) UThrestri¢tèd R05trÉcted fvnd5 2024 Total funds 2024 2024 At 31 August 2024: Tangible assets Current assatsllliabilities) 785,571 1186,1041 785.571 {182,0401 4,064 599,467 4,064 603,531 20 Contingent liabilities Various funders retain the right to daw bad< grants should the use of fvnds not be in accordan with the tenns of the grant. In the ¢)pinion of the Trustees no SLt¢h liability exists at the year end. 21 Operating lease commitnonts Lèss•• At the reporting end date the Charity had ¢ul$tsnding commitments for fLrture rninimum lease payments under non-cancellable operating leases, which fall due as follows.. 2026 2024 Within one year Btheen and five years 9,557 17,920 9.557 31,783 27,477 41,340 22 Related party transactions Transactions with rglatsd partie3 Induded in other creditor$ is a balance of £98,500 owing to one of the directors and a trustee of the ch8ri1able ¢ompany. Of this balance. £80,000 relates to a longer-tèrm loan. wth the remaining £18,500 relating to short- terni advances. The loans are unsecured, intèrest-free and repayable on dernand. The short-tem advances are provided a$ bridging finance to support workn.ng capital requirement5 towards the end of each month. enabling liabilities to be setued pending reipt of income from residents at the stsrt of the following month. The longer-term loan fomis part of the tharitable ¢ompany's ongoing working capital support. 23-
WATERMOOR HOUSE R C H NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGusf2025 23 Cash g$nerated froml{absorbèd by) operatlons 2025 2024 Deficpt for year {4,319) 1208,985) Adjustsnents for.. Investment income recognised in statement of financial activities IGainllloss on disposal of investments DeprèrJ.on and impairment of tangible fixed assets 151 {3.2011 1,540 11,853 10,392 Movements in working capital: Ilncreaselldea5e in stocks Iln¢xeaselldecrease in debtors Increase in uedilors 11.9551 112,3251 10,512 3,821 20.464 87,705 Cash ggnorated froml(absorbèd by) operations 2.300 188,8031 24 Anafysis of changos in net funds The Charty had n¢ material debt during the year. -24-