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2023-03-31-accounts

CHARITY NO. 1170651

COMPANY NO. 09832183

THE WSUP CHARITY

REPORT AND FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

THE WSUP CHARITY

CONTENTS Page
Legal and administrative information 2
Trustees’ Annual Report 3
Auditors Report 10
Statement of Financial Activities 13
Balance Sheet 14
Cash Flow Statement 15
Notes to Financial Statements 16

1

THE WSUP CHARITY

Trustees’ Annual Report

Legal and Administrative Information

The WSUP Charity was established in November 2016 and registered with the Charity Commission of England and Wales, Charity number 1170651 and registered company number 09832183.

The Trustees are appointed by the Trustees in accordance with clause 25 of the Memorandum of Association of the charity.

Principal Address 1 Giltspur Street, London EC1A 9DD
Registered Address 124 City Road, London EC1V 2NX
Bankers CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent ME19 4JQ
Legal Advisors Bates Wells LLP
10 Queen Street Place
London EC4R 1BE
Trustees Richard Aylard
David Birch
Katherine Nightingale (resigned 11 October 2023)
Peter Lochery
Ulrike Sapiro
Manager Jeremy Horner
Company Secretary Anzo Francis
Auditors Crowe U.K. LLP
4th Floor St James House
St James Square
Cheltenham, GL50 3PR

2

THE WSUP CHARITY

Trustees’ Annual Report

The Trustees present their report together with financial statements for the accounting year from 1 April 2022 to 31 March 2023.

The financial statements comply with the current statutory requirements; the Companies Act 2026 , and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities (effective January 2019.

The WSUP Charity is a charity registered with the Charity Commission of England and Wales, charity number 1170651, and is a registered private company limited by guarantee, company number 09832183. Water & Sanitation for the Urban Poor (Registered Company no. 05419428) is the sole member of The WSUP Charity.

Objects of the Charity

The WSUP Charity was founded with the following objects:

Trustees

The Trustees of the Charity, appointed in accordance with the Memorandum of Association, are as follows:

Richard Aylard (Chair) – appointed November 2016 David Birch – appointed November 2016 Peter Lochery – appointed November 2016 Katherine Nightingale – appointed May 2018 and resigned 11 October 2023 Ulrike Sapiro – appointed May 2018

Trustees are selected to give the Charity a good mix of appropriate professional skills. New trustees are provided with an induction pack consisting of the governing documents, previous 2 years’ annual reports and accounts, policies and procedures of the Charity, and the Charity Commission’s guidance: the essential trustee: what you need to know, what you need to do (CC3). The Charity’s auditors provide useful material and run courses for trustees on their roles and responsibilities.

Responsibilities of the Trustees

Trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity and the incoming resources and application of resources, including the net income or expenditure, of the Charity for the year. In preparing those financial statements the Trustees are required to:

3

THE WSUP CHARITY

Trustees’ Annual Report

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities SORP.

The Trustees are 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. The Trustees confirm that to the best of their knowledge there is no information which would give rise to concern.

The Trustees have no beneficial interest in the Charity, they only possess voting rights. The Trustees are responsible for making grants from the Charity’s funds in conformity with the objects given above.

Meetings of the Trustees are held quarterly to discuss and agree matters affecting the governance of the Charity, financial statements and to review applications for grant funding and award grants in line with the objects outlined above.

Activities for Public Benefit

The Trustees of the Charity seek to guide the Charity to contribute to the alleviation of poverty through providing safe water and sanitation in any part of the world. It has been decided upon to focus our work to respond to the unprecedented explosion in urbanisation and the ensuing crisis in water and sanitation provision in low-income urban cities. The Trustees acknowledge that many individuals, both young and old, travel to cities in search of better employment opportunities and often become trapped in poverty and low-quality sanitation and water services often compound this. The Trustees believe that providing safe and dependable water and sanitation access in these communities is one of most critical components for improving the lives of the vulnerable and altering the course of their life away from poverty.

The Objects of the Trust are given above. The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on Public Benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year

Grants awarded

The Trustees have made grants within the objects of the Charity as stated above.

During the year, the Charity awarded grants of £2,600,306 to Water & Sanitation for the Urban Poor (WSUP). The grant supports WSUP’s programme in Mozambique, Ghana and Madagascar and strengthens WSUP’s organisational development. The grant support enables WSUP to achieve its business plan outcomes in Mozambique, Ghana and Madagascar covering a range of WASH components in implementation, capacity development of partner organisations, and influencing policy, regulation, and WASH investments. The support to organisational development covers research and learning, business analytics, thought leadership, people management, financial and stakeholder management.

Key outputs achieved over the period 1 June 2022 to 31 July 2023 included the following:

4

THE WSUP CHARITY

Trustees’ Annual Report

Madagascar projects:

A. Improving Schools WASH facilities based on WASH Friendly Schools approach in Antananarivo & Mahajanga (15 in total)

15 school WASH blocks were successfully completed, eight in Tana and seven in Mahajanga and handed over to the school administrations. These provide improved WASH facilities to an estimated 12,295 children and teachers (boys - 6,117; girls – 5,957; teachers – 221).

B. Improving access to water through social household connections in Antananarivo (50 in total)

67 social household connections were successfully completed and operational providing water access to 700 households with an estimated 2,846 persons. This exceeded the original target thanks to the assistance and support from the municipalities (Communes), the utility (JIRAMA) and responding to the needs in the target communities.

Ghana Project

Community water supply schemes (three) & improved schools WASH (four) in Ashanti Region

Three community water supply schemes were successfully completed in Asankere, Kyekyebiase and Serebourso providing access to an estimated 11,359 persons in 2,065 households.

Four school WASH facilities were successfully completed in Asankere, Kyekyebiase, Serebourso and Abofour providing WASH access to 2,956 school children and teachers (boys – 1,391; girls – 1,491; teachers – 74). The WASH facilities in Asankere, Kyekyebiase, Serebourso are equipped with 14-seater toilets and 20-seater toilets in Abofour including for persons with disabilities.

Training was provided to school management teams, teachers, pupils, School Health Education Programme (SHEP) coordinators and district environmental health officers on effective operations and maintenance of school WASH facilities.

Hygiene promotion campaigns were undertaken for the schools and the communities linked to the community water supply schemes. These have reached an estimated 15,588 persons.

Kenya projects

A. Improved sanitation through simplified sewer systems in Nairobi & Nakuru (SSS)

Approximately 5,353 meters of sewer pipelines were completed in the Nairobi and Nakuru low income areas (Nairobi – 2,980 m; Nakuru – 2,373). The simplified sewer systems have led to a population of 9,970 in Nairobi and11,360 in Nakuru (total: 21,330) getting connected by upgrading and connecting their household or compound toilets to the new sewer system simplified sewer systems.

Training of artisans and technicians was a key successful activity as they are critical to upgrading toilets to connect to the new sewer lines.

5

THE WSUP CHARITY

Trustees’ Annual Report

Sanitation marketing was another key activity with training of community health volunteers and marketing staff in the two utilities. They would lead the promotion of toilet upgrading to a larger population in the two cities.

The planned tasks on strengthening sanitation policy and regulation were successfully completed including the Simplified Sewer System publication which was launched by the Ministry of Water, Sanitation, and Irrigation (MoWSI) and key stakeholders on World Toilet Day 2022 (November 19th), and finalising the Nakuru City WASH by-laws.

A range of interlinked tasks were successfully completed to facilitate and create the enabling environment for improving the on-site sanitation facilities for families. Owing to significant cost increases due to inflation, the original target of 100 toilets in each area was reduced to 84 in Kisumu and 46 in Malindi. The revised target was achieved benefitting an estimated 2,924 population (Kisumu – 2,004; Malindi – 920).

A range of activities was completed to support and promote improved on-site sanitation services. This included improving the services and safety of toilet pit emptiers with better safety equipment, capacity and skills development to operate their businesses, and to diversify their services to include solid waste management.

An estimated 24,660 persons in these low-income communities have benefitted from improved pit emptying services (Kisumu – 17,460; Malindi – 7,200), and 14,670 persons have benefited from on-site solid waste management services in Kisumu.

The activity to support the waste-to-resource business of Nakuru utility (NAWASSCOAL) with their briquette production and marketing has been a significant success with their sales increasing to 87,000 customers during the period of the project. The planned activities to strengthen the capacity of the utilities to manage on site sanitation and the on-site sanitation framework were completed successfully

Outreach

During the year, the Charity continued to develop relationships across several sectors in order to raise funds to further the objects of the Charity, notably:

6

THE WSUP CHARITY

Trustees’ Annual Report

During the coming year, the Charity will seek to secure new grants from both UK based and international Trusts and Foundations and focus on developing relationships with HNWIs. Some public fundraising efforts may be considered on an ad hoc basis.

The Trustees would like to express their gratitude to the hard work of all the volunteers who work to administer the work of the Charity and give their time to further the objects outlined above.

Fundraising

The Charity’s fundraising model has been focussed on existing relationships with institutions, corporations, and a small number of individuals. The Charity has not engaged with third parties to raise funds and any direct approach to members of the public for funding has been limited. No complaints were received in relation to the Charity’s fundraising activities. The Charity is not registered with the Fundraising Regulator.

Grant making policy

In accordance with the current Charity Commission guidelines, the Charity has devised a Grant Making Policy in order to:

The Grant Making Policy of the Charity states that grants provided by the Charity will support charities and other organisations which carry out projects that are charitable under the law of England and Wales, working to improve the lives of low-income people in urban environments in developing countries by funding the establishment and management of projects that provide water, sanitation and hygiene services in advancement of the objects of the Charity.

Trustees will approve applications subject to the successful completion of the necessary due diligence checks, to be performed by the Manager, as outlined in the policy and grants will be conditional upon the recipients agreeing to the Charity’s grant terms and conditions and no funds will be advanced before the grantee has signed up to the terms and conditions.

Review of Financial Provision

The financial statements for the accounting period ending 31 March 2023 show an excess of expenditure over income of £3,457 (year ended 31 March 2022: excess of income over expenditure of £10,744).

Reserves Policy

The trustees aim to maintain free reserves in unrestricted funds equivalent to 3 to 12 months of unrestricted charitable expenditure, which equates to £2063 to £8250.

At 31 March 2023, The WSUP Charity held total funds of £16,076 of which £12,685 was restricted and £3,391was unrestricted (31 March 2022: total funds of £19,533 of which £11,505 was restricted and £8,028 was unrestricted).

7

THE WSUP CHARITY

Trustees’ Annual Report

The trustees consider the reserves policy to remain appropriate.

Risk Management

The Trustees have reviewed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate the exposure to these risks. There are two main risks: Funding pipeline and delivery partner risk.

The funding pipeline for the Charity remains relatively weak. At present the Charity has only one major donor. Action has been taken to ensure that the relationship with the major donor is managed well. Additional steps will be taken to build the quality and scale of the funding pipeline.

The Charity’s principal delivery partner is WSUP. WSUP’s financial position has been affected by the reduction in broadly restricted funding, and increased reliance on restricted funding. WSUP has taken mitigation action to manage the risks that it faces, and the WSUP Board consider that WSUP will remain a going concern for the foreseeable future.

Going Concern

The Trustees have reviewed the:

The Trustees note that the Charity has secured a grant for the 24-month period from January 2023 to December 2024 totalling £2,994,090.

After considering the forecasts and projections, including funding pipeline and cost controls, the Trustees have concluded that the Charity has a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future and have continued to prepare the financial statements on a going concern basis.

Audit information

The Trustees confirm that:

In preparing this report, the directors have taken advantage of the small companies’ exemptions provided by Section 415A of the Companies Act 2006.

8

THE WSUP CHARITY

Trustees’ Annual Report

Approved by the Trustees on 26 October 2023 and signed on their behalf by:

Richard Aylard Chair of Trustees

9

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE WSUP CHARITY

Opinion

We have audited the financial statements of The WSUP Charity (‘the charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

10

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE WSUP CHARITY

consistent with the financial statements; and

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 3, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context

11

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE WSUP CHARITY

were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR) and anti-fraud, bribery, and corruption legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management and grant income recognition . Our audit procedures to respond to these risks included enquiries of management, and the Trustees about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Tara Westcott Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor Cheltenham, UK

Date:

12

THE WSUP CHARITY

Statement of Financial Activities for the year ended 31 March 2023

INCOME AND ENDOWMENTS FROM:
Note
Donations and legacies
3
TOTAL
EXPENDITURE ON:
Charitable Activities
Grant making
4
Support costs
TOTAL
Net income/(expenditure) before tax for
reporting period
Net income/(expenditure) after tax before
investment gains/(losses)
Net movement in funds
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 31 March
2023
31 March
2022
Restricted
Unrestricted
Total
Total
£
£
£
£
2,640,322
3,613
2,643,935
2,066,364
2,640,322
3,613
2,643,935
2,066,364
2,635,632
8,250
2,643,882
2,040,390
3,510
-
3,510
15,227
2,639,142
8,250
2,647,392
2,055,617
1,180
(4,637)
(3,457)
10,744
1,180
(4,637)
(3,457)
10,744
1,180
(4,637)
(3,457)
10,744
11,505
8,028
19,533
8,789
12,685
3,391
16,076
19,533

13

THE WSUP CHARITY

Company number 09832183

Balance Sheet as at 31 March 2023

Note
CURRENT ASSETS
Cash at bank and in hand
Total Current Assets
LIABILITIES
Creditors: Amounts due within one year 6
NET CURRENT ASSETS
NET ASSETS
FUNDS
9
TOTAL FUNDS		 31 March
2023
31 March
2022
Restricted
Unrestricted
Total
Total
£
£
£
£
702,512
24,046
726,558
24,075
702,512
24,046
726,558
24,075
689,827
20,655
710,482
4,542
12,685
3,391
16,076
19,533
12,685
3,391
16,076
19,533
12,685
3,391
16,076
19,533

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. The financial statements have been prepared in accordance with the provisions applicable to small companies’ regime.

Approved by the Trustees and authorised for issue on 26 October 2023 and signed on their behalf by

Richard Aylard Chair of Trustees

14

THE WSUP CHARITY

Cash flow statement for the year ended 31 March 2023

Notes
Cash flows from operating activities:
Net cash provided by operating activities
11
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
12		 31 March
2023
31 March
2022
£
£
702,483
(672,425)
702,483
(672,425)
24,075
696,500
726,558
24,075

15

THE WSUP CHARITY

Notes to the Financial Statements for the year ended 31 March 2023

1. Basis of Preparation

a) Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts .

The financial statements are prepared in accordance with the Charities SORP (FRS 102) issued October 2019, the Companies Act 2006, the Charities Act 2011 and applicable Accounting Standards.

The Charity constitutes a public benefit entity as defined by FRS 102.

b) Going concern

After considering the forecasts and projections, including funding pipeline, and cost controls, the Trustees have concluded that the Charity has a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future and have continued to prepare the financial statements on a going concern basis.

c) Accounting Policy

The accounts present a true and fair view and no changes have been made to the accounting policies.

2. Accounting Policies

a) Income

Income is recognised when WSUP Charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when WSUP Charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service or agreed activity is deferred until the series is delivered or activity is carried out. In the case of contracted income that includes a budgeted profit margin, income is recognised on the basis of actual costs incurred together with the attributable recoverable margin

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

The value of any voluntary help received is not included in the accounts but is described in the Trustees’ annual report.

b) Expenditure

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the Charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

16

THE WSUP CHARITY

Notes to the Financial Statements for the year ended 31 March 2023 (continued)

2. Accounting Policies (continued)

c) Assets

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the Charity. Subsequently, they are measured at the cash or other consideration expected to be received.

d) Critical estimates and judgements

In the application of the company’s accounting policies, which are described in note 2, the directors are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods.

In the view of the directors, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

3. Income

Donations and gifts
Donations and gifts		 Year ended
31 March
2023
Restricted
Unrestricted
Total
£
£
£
2,640,322
3,613
2,643,935
Year ended
31 March
2022
Restricted
Unrestricted
Total
£
£
£
2,060,979
5,382
2,066.364

17

THE WSUP CHARITY

Notes to the Financial Statements for the year ended 31 March 2023 (continued)

4. Expenditure

Expenditure on
charitable activities
Support Costs
Bank charges
Support Costs
Insurance
Support Costs
Registered
office and filing
fees
Support Costs
Meeting
expenses
Support Costs
Fundraising
Support Costs
Audit		 Year ended
31 March
2023
Restricted
Unrestricted
Total
£
£
£
2,365,632
8,250
2,643,882
96
-
96
2,531
-
2,531
35
-
35
218
-
218
-
-
-
630
-
630
2,639,142
8,250
2,647,392
Expenditure on
charitable activities
Support Costs
Bank charges
Support Costs
Insurance
Support Costs
Registered Office
Support Costs
IT
Support Costs
Meeting expenses
Support Costs
Fundraising
Support Costs
Audit		 Year ended
31 March
2022
Restricted
Unrestricted
Total
£
£
£
2,052,390
-
2,052,390
132
-
132
-
-
-
525
-
525
-
-
-
135
-
135
-
1,805
1,805
630
-
630
2,053,812
1,805
2,055,617

18

THE WSUP CHARITY

Notes to the Financial Statements for the year ended 31 March 2023 (continued)

Analysis of expenditure on charitable activities
Activity
Activities undertaken directly
Activity 1
WASH sector in Mozambique, Ghana,
Madagascar, and Organisation
Development
Activity 2
Project administration
Total		 Grant
funding of
activities
Year
ended 31
March
2023
Year
ended 31
March
2022
£
£
£
2,622,191
2,622,191
2,040,390
21,691
21,691
12,000
2,643,882
2,643,882
2,052,390

5. Net Income

Net income is stated after Auditor’s remuneration of £525 plus VAT (31 March 2022: £525 plus VAT).

6. Creditors due within one year

Accruals
Inter-company creditor – Water & Sanitation for the Urban Poor		 2023
2022
£
£
3,688
1,230
706,794
3,312
710,482
4,542

7. Transactions with Trustees and related parties

One trustee received remuneration or other benefits from employment with a related entity totalling £10,836 (2022: £10,320). £218 trustee travel expenses were incurred (2022: £135).

During the year, grants of £2,643,882 (2022: £2,052,390) were made to Water & Sanitation for the Urban Poor, the charity’s sole member. At the balance sheet date, £706,974 (2022: £nil) was owed to Water & Sanitation for the Urban Poor by the WSUP Charity in respect of grant approved but not yet paid.

8. Additional disclosures

The WSUP Charity is a charity registered with the Charity Commission of England and Wales, charity number 1170651, and is a registered private company limited by guarantee, company number 09832183. Its registered address is 124 City Road, London EC1V 2NX.

Water & Sanitation for the Urban Poor (registered company no. 05419428) is the sole member of the WSUP Charity. Its registered address is 124 City Road, London EC1V 2NX.

19

THE WSUP CHARITY

Notes to the Financial Statements for the year ended 31 March 2023 (continued)

9. Statement of funds

Year ended 31 March 2023
Brought
forward
Income
Expenditure
Transfers
in/(out)
Carried
forward
£
£
£
£
£
Unrestricted funds
General funds
8,028
3,613
(8,250)
-
3,391
Restricted funds
WASH transformation
and
organisational
development
11,505
2,640,322
(2,639,142)
-
12,685
TOTAL FUNDS
19,533
2,643,935
(2,647,392)
-
16,076
Year ended 31 March 2022
Brought
forward
Income
Expenditure
Transfers
in/(out)
Carried
forward
£
£
£
£
£
Unrestricted funds
General funds
4,451
5,382
(1,805)
-
8,028
Restricted funds
WASH transformation
4,338
2,060,979
(2,053,812)
-
11,505
TOTAL FUNDS
8,269
2,066,364
(2,055,617)
-
19,533
WASH transformation expenditure supports WSUP’s programmes in Mozambique, Madagascar and
hana, and strengthens WSUP’s organisational development.
. Analysis of net assets by fund
Restricted
funds
Unrestricted
funds
Total
Funds
Total
funds
2023
2023
2023
2022
£
£
£
£
Cash and bank
702,512
24,046
726,558
24,075
Creditors
(689,827)
(20,655)
(710,482)
(4,542)
12,685
3,391
16,076
19,533		 Year ended 31 March 2023
Brought
forward
Income
Expenditure
Transfers
in/(out)
Carried
forward
£
£
£
£
£
Unrestricted funds
General funds
8,028
3,613
(8,250)
-
3,391
Restricted funds
WASH transformation
and
organisational
development
11,505
2,640,322
(2,639,142)
-
12,685
TOTAL FUNDS
19,533
2,643,935
(2,647,392)
-
16,076
Year ended 31 March 2022
Brought
forward
Income
Expenditure
Transfers
in/(out)
Carried
forward
£
£
£
£
£
Unrestricted funds
General funds
4,451
5,382
(1,805)
-
8,028
Restricted funds
WASH transformation
4,338
2,060,979
(2,053,812)
-
11,505
TOTAL FUNDS
8,269
2,066,364
(2,055,617)
-
19,533
WASH transformation expenditure supports WSUP’s programmes in Mozambique, Madagascar and
hana, and strengthens WSUP’s organisational development.
. Analysis of net assets by fund
Restricted
funds
Unrestricted
funds
Total
Funds
Total
funds
2023
2023
2023
2022
£
£
£
£
Cash and bank
702,512
24,046
726,558
24,075
Creditors
(689,827)
(20,655)
(710,482)
(4,542)
12,685
3,391
16,076
19,533		 Income
Expenditure
Transfers
in/(out)
Carried
forward
£
£
£
£
3,613
(8,250)
-
3,391
2,640,322
(2,639,142)
-
12,685
19,533 2,643,935
(2,647,392)
-
16,076
Income
Expenditure
Transfers
in/(out)
Carried
forward
£
£
£
£
5,382
(1,805)
-
8,028
2,060,979
(2,053,812)
-
11,505
8,269
 2,066,364
(2,055,617)
-
19,533

WASH transformation expenditure supports WSUP’s programmes in Mozambique, Madagascar and Ghana, and strengthens WSUP’s organisational development.

10. Analysis of net assets by fund

20

THE WSUP CHARITY

Notes to the Financial Statements for the year ended 31 March 2023 (continued)

11. Net cash provided by operating activities

Net income for the year
(as per Statement of financial activities)
Adjustment for:
Increase/(Decrease) in creditors
Net cash provided by operating activities
12. Analysis of cash and cash equivalents
Cash at bank
13. Analysis of changes in net cash
At 1
April 2022
£
Cash at bank
24,075		 2023
2022
£
£
(3,457)
10,744
705,940
(683,169)
702,483
(672,425)
2023
2022
£
£
726,558
24,075
Cashflows
At 31
March 2023
£
£
702,483
726,558

21