Company registration number 11133860 (England and Wales) Charlty rnglstratlon numbér 1181775 (England and Wales) THE WELLAND TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
THE WELLAND TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms J Rees Miss P Jonès Miss l Murphy Mrs S Saunders Charlty number 118177S Company number 11133860 R•gistèred offic• Craftsman House De Salis Diive Hampton Lovett Droibmich Worcestershire England VVR9 OQE Ind8pendent examiner Colm McGrory Omerod Ruttei Limited The Oakley Kidderrninster Road Droitwich Worcestershire WR9 9AY
THE WELLAND TRUST CONTENTS Payè Tiu$lees' report Independ&nt exarninerfs report Slalement of finanaal actiwlies Balance sheet Notes to the financial stslernenls 8-17
THE WELLAND TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present their annual report and financial statements for the year ended 31 Oecember 2025. The financial statements have been prepared in accordance with the accounting policie5 sel out in note 1 to the financial statements and comply with the charills memorandum and articles of association, the Companies Act 2006 and "Accounting and Reporting by Charities". Statemènt of Recomm&nded Practice applicable lo charities preparing their acwunt5 In accordance with the Financial Reporting Slandaid applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Oble¢tives and activities Thè Charity'$ objects 1. To relieve the needs of care experienced people primarily, bul not exclusively. through advanclng their health, relieving unemployrnenl, Ihe provision of financial assistance and by developing their skills and capa(ity so that they are able lo participate more fully in society. 2. The provision ol housing. including Social Housing, and assistance lo help house care experienced people and associated facililles, amenities and services for them. For the purpose of this clause "care experienced" mean5 children or 8dulls who have at some stage had foster ¢aie or residential care experience. The Charity's aims The Welland Trust continued lo deliver on the long-term strategy during the year, focusing on funding and support of projects, services and initiatNes delivered by other organisalions who seek to benefit adu115 who have experienced care. We are particularly keen 10 5UPPOrt the cre3lion of opportunities which help reduce homelessness. reduce re- offending, and support that will enhance the phy5i¢al and mental wellbelng of adults who've been in care. The project5 we are looking lo support will be those who will serve care experienced people of all ages, genders and backgrounds. in particular, we have a passion for projects that support opportunities for training, ernploymenl and further education lor care leavers who are over 25 where there is no statutory support available. Publlc benefit The trustees have ¢(>mplied with Iheii dvty lo have due regard to the guidance on public beneff( as published by the Charity Commi55ion and consider all the activitie5 undertaken lo further the charily's purposes lo be of public benefit. Property The charty aims to purchase. lease. exchange, hire or otherwise acquire any real or personal propety rlghls or privileges (including shared or Contingent interests). The tharity may also nStrUct, aller, improve, Convert, maintsin, equip, furnish andlor demolish any buildings, structures or prr)perty. The charity may sell, lease, linSe. exchange, dispose of or otherwise de81 with proporty Isubjed to the rostrith'on5 in the Charities Acl 20111. The charity aims lo rent property lo care experlenced people at bolow market rents in order lo enable them to live inler-dependently. The charity may provide accomrnodation for any other charitabl8 organisallon on such terms as tha Board deades lincluding renl-free or al nominal or non-commercial rents) subject to the restrictions in the Charities Act 2011. Grants and Loans The chaiily aims to make gTants. donations or loans, lo give guarantees and to gSve security for thosg guaranlees15ubject to the restrictions in the Charities Act 20111.
THE WELLAND TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT} (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Use of staff and volunteers Th8 charity may efflploy staff or engage consullanls and advisers on such tgms as the Board thinks fil. The charity will recruit and manage voluntary workers, induding paying their reasonable expenses,. the charlly is very grateful lo the volunteers who provide support and help to raise awareness and funding for the ¢harty. Achlevgmants and performance Financial review Following a year of exceptionally strong investment performance throughout 2024 it was encouraging lo see continued growth in 2025, albeit al lower levels than the previous year. In 2025 the inveslrnenls grew by £246,662 during thè year, with a downlum in thè first quarter followed by recovery for the remainder of the year. The dosing investment balance was £7,146.827. Grant giving for the year was £584,787. with 51aff costs and overheads of £336,456 and £126,599 respeclivety. The nel deficit for the year was £897,448. Rasorvos and Investrnent policy The trustees Consider that a prudent level of reserves should be held tr) support the aims of the charrty and enable Continued and sustainable grant giving. It is the Iruslee's intention that surplus lunds held in excess ol those required for medium term finandal commitments be invested, and that the ielurn achieved on the investments will be used lo fund the ¢haritable giwng and overheads. Thè inveslrnent portfolio will be professionally managed and invested in diversified, èthical. and environmentally friendly securities. The risk prtsfile for the investments is currently moderate, this will bè rewewèd al least annually lo ensure an a¢pIable risklrelum balance is maintained. The Ch8rlty maintains a borrowing facility of up to £500.000. Ihls sum Can be drawn down as required, with the balance 5ecuied against the investments. The borrowing facility adds a degree of flexibiltty, enabling the Charity lo make withdrawals from investments at the most optimal times. The inloresl rale on thè borrowng is lower than the long term average investment returns. Future Plans In 2026, the Charity will expand its focus on providing safe, affordable shad housing for care lèavers through the acquisition of residential properties in areas of identified need. Working in partnership with local authoritiès and like-minded charitsble organisations. the charity will help ensure residents have access lo appropriate $upport services while benefiting from stsble and affordable accommodation. These property acquisitions will fvrthèr the charity's charitable objectives, diveisfy its assèt portfolio, and generate a sustainable and predictsble income stream lo support its long-lerm a¢tivilies and impact.
THE WELLAND TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Structure, gov•mance and management Goveming document- The chaiity 15 governed by its Memorandum and Articles ofAssociation dated 4th January 2018, as amended by special resolution registered al Companies House on 12th De¢embèr 2018 and lurthgr amended by special resolution dated W December 2020 also lodged with Companiès House. Thè tiuslees, who are also the directors lor the purpose of company law, and who served dursng the year and up lo the dale of signature of the financial statements were.. Ms J Rèes Miss P Jonè5 Miss l Murphy Mrs S Saunders Recruitment and appolntment of new trustee8 The trustees, who are also directors under cornpany law, are appointed by ordinary resolution or by the existing trustees of the ¢harily. None of the trustees have any beneficial interest in the company. All of the trustees are members of th8 ¢ompany and guaTanlee to contribute £1 in the event of a winding up. Organisational structure The trustees are responslble for Governance and ensurfng the charitable objectives are being met. The Chair and truslees provide strategic direction and decision making lo the exécutivè tèam, who has delegated authority for delivering the strategic plan and operational leadership, induding the day to day running of the Charity. Inductlon and training of new trustees New trustees are provided wlh information in the fomi of a Trustee5' Handbook in¢ltkding details from the Charity Commission explaining their duties and responsibilitie5 a5 Iruslee5. the terms of their engagement as Irvstee and details ol the charity's key principles and airns lor ils work. Each Iruslee is also providèd with copy of the ¢hariVs Memorandum and Arts'cles of Association and a recommended iesource 8nd adIng list lo assist theiT role and development,. these are also available from the charity.
THE WELLAND TRUST TRUSTEES, REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Statsm•nt of trustees. responslbllltles The trustees. who are also the directors of The Welland Trust for the purpose of company18w. are responsible for preparing the Trustees. Report and the financial staternent5 in accordance with applicable law and United lfjngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Cornpany Law requires thè trustees lo piepare financial statements for each finanaal year which give a true and fair view of the state of affairs of the charity and of the incoming resoureès and application of reSoUrs, including the income and exptrndilure. of the charitable company for that year. In preparing these financial statements, the trustees are required lo.. sele¢t suitable accounting policies and then apply them consistently. observe the mgthods and principles in the Charitias SORP. make judgements and estimates th81 are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject lo any material departures disdosad and explaed in the finanaal statements,. and prepare the financial statements on the gng concem basis unless it is inappropTiale lo presume tt)81 the charity will continue in operation. The trustees are responsible for k8eping adèquate accounting records that disclose with reasonable accuracy at any time the financial position of the chaiity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are 81s0 responsible for safeguarding thè assets of the tharity and hence for taking reasonablè steps for the prevention and dete10ft of fraud and other iriegularitias. The usle&s' report was approved by the Board ofTrustees. Ms J Rees Trustee Daled..141h Au9USt 2026
THE WELLAND TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WELLAND TRUST I report to the Iruslees on my examination of the financial statements of The Welland Trust Ilhe charity) for the year ended 31 December 2025. Responsibiliti•$ and ba$1$ of report As the Iruslees of the charity (and also its directors for the purposes of company lawl, you are responsible for the preparation of th6 financial statements in accordance wilh tha raquiremonts of the Companies Act 2006. Having satisfied myself that the hlnancial statements of the charity are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the d)arity's financial statements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Acll. In carrying out my exatninalion I have followed all the applicable Directions given by the Charity Commission under section 145151{bl ol the 2011 Act. Independènt •xaminerfs statement I have completed my examination. l ¢onfim thal no matters have come lo my attention in connection with the examination giving tNÈ cause lo believe that in any material iesp&ct'. accounting records were not képt in respect of the charity as required by section 386 of the Companies Act 2006. the financial slalemenls do not accord with those records; or the financial 518lernenls do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial slalemenls give a true and fair view, which is not a matter Considered as part of an independent examination.. or the financial statements have not been prepared in a¢GoTdan¢é with thè methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their finan¢ial statements in a¢¢ordan¢e with the FSn8nu81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}. I have no concerns and have come across no other matters in connection with the examination lo whlch allenlion should be drawn in this report in order to enable a proper understanding of the financial slalemenls lo be reached. Colm McGrnry FCA Ormerod Rutter Limrted The Oakley Kiddeminster Road Droifvlich Worcestershire WR9 9AY
THE WELLAND TRUST STATEMENT QF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestrlcted fund$ 2025 Unrestricted lund$ 2024 Notss Income from.. Donations and1gga¢i¢s Investments 12.000 91.732 20.000 114.684 Total income 103.732 134,684 Expènditure on: Raising funds Charitable activities 40.614 1,007,228 44,155 897,026 Tol81 expendllure 1,047.842 941.181 Net gains on investments 246.662 790,184 Net expenditura and mov•mont In funds {697.4481 {16,3131 Reconciliation of fund8: Fund balances at 1 January 202S 9,021.949 9.038,262 Fund balanees at 31 December 2025 8,324.501 9.021,949 The slalemenl of finan¢lal actiwlies Includes 811 gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE WELLAND TRUST BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Notes Fixed •ets Tangiblè assèts Investrnents 13 14 399,724 6,871.633 407,381 7.760,971 7,271,357 8.168,352 Current assets Debtor5 Cash al bank and in hand 15 ge9,245 246,202 817,248 68.931 1.215,447 886,179 Creditors: amounts falling due within one year 16 1162,303} 132,582) Net currènt assets 1,053,144 853,597 Totsl atrts less current liabilittes 8,324,501 9.021,949 Income funds Unrèstricted fund$ 8.324,501 9.021,949 8,324,501 9.021,949 The company is enlilled to the exemption from the audit requirement contsined in sedion 477 of the Companies Act 2006, for the year ended 31 December 2025. The direciors acknowledge their responsibilities for ¢omplying with the requiremenls of the Companie5 Act 2006 whh respect to accounting recoids and the preparation of finanaal slalemenls. The members have not required the company to oblain an audit of Ils 11nanclal ststemenls for the year in question in accordan¢e wth section 478. These financial statements have been prepa In accordance with Ihe provisions applicable lo companies subject to the small companies iegime. Thefi ancial statements were approved by the Trustees on 14th AugvstRQ26 Ms J Rees TNstee Company Registrntion No. 11133860
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng poli¢ies Charity inforn)atlon The Welland Trust is a private company limited by guarantee incorporated in England and Wales. The iegislered office is Craftsman House. Dg Salis Drive, Hampton Lovett. Droitwi¢h, Worcèstershire, WR9 OQE, England. 1.1 Accounting Convention The financial statements have been prepared In a¢coTdan¢e with the tharitys memorandum and articles of a550ciation. the Companies Act 2006 and 'Accounling and Reporting by Charities.. Stalernent of Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for accounting (effective 7 January 20191. The charity is a Public Benefft Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Updata Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in 51erling, which is the functional currency of the charity. Monetary amounts in these finan¢i8151alemenls are rounded lo the nearest £. The financial slalements have been prepared under the historical cost convention. The pritKipal accounting poliaes adopted are set oui below. 1.2 Going Concern At the tirne of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational exist@nee for the foreseeable future. Thus the t¥ustees conlinije lo adopt the going concarn basis of accounting in prèparing thè financial statèmènts. 1.3 Charltsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of Ihwr charitable objèctivas. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial slalements. 1A Incoming re$our¢e$ Income is recognised when the charity is legally entitled to It after any perfom8n¢e conditions have been mel. the amounts can be measured reliably, and il is probable that income will be reIVed. Cash donations are re¢ognised on welpt. Other don8tlons are recognised once the charity has been notified of the donation. unless perforrnance conditions require deferral of the amount. Incorne tax re¢oveiable In relation to donations received under GiftAid or deeds of covenant is recogni5ed at the lime of the donation. Legacies are recognised on Teceipl or otherwise if the tharity ha5 been notified of an irnpending dislribulion. the amount is known, and reIpl is expecled. If the amount is not known. the legacy 15 treated as a contingent asseL
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accountln9 poIi¢i•s Icontlnu•dl 1.5 Resourcès expended Liabilities are iecognised a5 expenditure as soon as there is a legal or ¢onslru¢tive obligation committin9 thg charity to that expenditure, il Is probable that a transfer of econorllic benefits will be reqLJiied in settlement and the amount of the obligation can be measured reliably, Expenditure 15 accounted for on an accruals basis and has bèèn dassified under headings thal aggregate all cost related lo the category. Where cos15 cannot be directly attributed to particular headings they have been allocated to actimties on a basis consislenl with the use of resources. Costs of raising fijnds comprises of costs incurred during investing activities. Fund raising costs indude the costs of good$ Sold, (*é costs and their associate support and govemance costs. Expenditure on charitable activities includes costs of provSdSng grants In Ilne wllh charitable aims and objectives and their associate 5UPPOrt and govemance costs. 1.6 Tangible flxed a$$ets Tangible fixed assets are initially measured at cost and subsequentty measured at cost or valuation, net of depreciation and any impairrnenl losses. Depreclalion is recognised so as to write off the cost or valuaty'on of assets less their residual values over their useful live5 on the following bases.. Freehold land and buildings Leasehold Improvernenls Fixtures and fittings Computer equipment 2°A straight line 33°h straight line 33% straight line 33 /0 slraighl line Thè gain or loss arising on the disposal of an asset is determined as the difference between the sale proceed5 and the carrying value of the asset. and is recogni5ed in the slalemenl of financial aclivilies. 1.7 Fixèd asset investments Fixed asset inve51rnenls are Initial measu al Iransacllon price excluding transactn costs, and aTe subsequenlty measured al fair value at each reporting dale. Changes in fair value ale rgcognised in nèt in¢omellexpenditurel for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power lo govem the financial and oparating policies of the enlily so as lo obtain benefits from ils activities. 1.8 Impairm•nt of fixed assets At each repo"n9 end dalts. the charity rewiews the carying amounts of ils tsngible assets to determine whether thère hs any indication that those assets have Suffered an impairTnent loss. If any such indication exists, the COVerable amount of the asset is estimated in order lo determine the extent of the impairment loss Irf any). 1.9 Cash and cash equivalents Cash and ¢ash equivalents include cash in hand, deposits held at ¢all with banks. other short-lem liquid investments with original rnaturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilth'es.
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng policies Icontinuedl 1.10 Financial instruments The charitable company only has financial as5e15 and finan¢?al liabilib.es of a kind that qualify as basic rinancial instruments. Basic financial instrumen13 are initially recogniseil at transaction value and subsequently measured at their settlement value. 1.11 Taxation The charity is exempt from corporation tax on its charrtable activities. 1.12 Provisions Provisions are recognised when the charity has a legal or constructive piesenl obligation as a rèsult of a past event, it is probable that the charity will be qUired to settle that obligation and a reliable estimate ¢8n be made of the amount of the obligation. The amount gnIse(l as a provision is the best estlmate of the consideration required lo settle the present obligation at the reporting end dale, taking into account the risks and uncertainties surrounding Ihe obligation. lfvhere the effect of the time value of rnoney is material, the amounl expectèd to be required to settle the obligation is recognised at present value. When a provision is measured al present valuè, Ihe unwinding of the diseounl is recognised as a finance cost in net incornellexpendilure) in the period in which it arises. 1.13 Retirement banoflts The ¢harilable company operates a defined contribution pension scheme. Contributions payable to tha hartable company's pension scheme are charged lo the Statement of Financial Aclimlies in the pèriod to which they relate. 1.14 Leases Rentals payable under opèrating laasas. induding any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease. Critscal accounting estimates and judgements In th$ application of the charity's accounting policies, the tru51ees are required to make judgèmènts. ostimates and assumptions about the carwng amount of assets and liabilrties that are not readily apparent from other Sour5. The estimates and associated assumptions are based on historical experience and olhei factors that are considered to be rèlevant. Actuaj results may differ from these estimates. The estimates and underlying a55umpb.ons are ravied on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or In the period of the revision and fulufe periods Whe the revision affects both current and future peritsds. Income from donatlon$ and lega¢les Unrestrlcted funds 2025 Unrestricted funds 2024 Donations and gifts 12,000 20.000 10-
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 Incomg from investments Unrestricted Unrestricted fund$ fund$ 202S 2024 DIldend income Rental in¢ome Interest receivable 49,022 12,000 30,710 61,Y53 12,(M)O 40,931 91,732 114,684 Ral$ing funds Unrestricted Unrestricted fund$ lunds 2025 2024 Investment management fees 40,614 44,155 40,614 44,155 11
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Charitable actlvltlès 2025 2024 Staff costs Deprècialton Training, recruilmenl and other staff costs Telephone, postage and slalionery Computer and Soare Rent and rates Motor and travel Insurance SundTies Premises expenses Bank chargès emberships and subscriptions 336,456 9,964 2,288 2,199 2,533 4,705 2,189 3,771 1,201 23,457 23,862 2.025 209,017 10,448 1,989 2.579 3.146 5,451 1.845 3.758 320 20,029 19,593 2.152 414,650 280.327 Grant funding of actmties (see note 71 584,787 61Q,848 Share of support costs Isee note 81 Share of governance cost5 (see note 8 1.819 6,172 796 5,055 1.007.228 897,026 Grants payablè 2025 2024 Grants lo in51ilulions.. Other 580.958 610,848 Grants to indNiduals 3,829 584.787 610,848 12-
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Support costs Support Governance Costs costs 2025 Support costs Governance C051s 2024 Professional fe&s Accountancy fees 1,619 1.819 8.172 796 796 5,055 6,172 5,055 1,619 6,172 7.791 796 5,055 5.851 Analysed befvveen Charitable aolivilies 1,619 6,172 7,791 796 5,055 5.851 Accountancy fee5 primarily indude £4,10912024.. £3,713} in respect of the Ind&pèndant Examiners fees and £1,32412024.. £1,022> in respect of payroll costs. Trustees None of the Iruslee5 lor any persons connected with them) recelved any remuneratlon or benefiis from the charity during the year. 10 Employees Number of Èmployèès The average monthly numbw of employees during the year was.. 2025 Number 2024 Number Emplayment costs 2025 2024 Wage5 and salaries Social security costs Other penslon costs 282.324 3e,884 17,248 173,080 23.809 12.128 336.456 209,017 The number of employè8s whosa annual ramuneration was £60.000 or more {excluding ernployer pension costs) were". 202S Number 2024 Number £60,001- £70,000 £70,Q01- £80,000 £80,001- £90,000 13
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 11 N8t galn$lllossesl on investments 2025 2024 Revaluation ol investmènts 246,662 790.184 12 Taxation The charity 15 exempt from laxalion on ils activities because all its income is applied lor charitable purpose5. 13 Tangible fix ass•ts Fwhold land Lèa80hold Flxtur06 and and bulldlnys ImptOVBments flttlnys Computer èqulpment Total Cost Al 1 January 2025 Additions 452,419 4,050 2.894 7,192 2.307 466.555 2,307 Al 31 Decembèr 2025 452,419 4,050 2,894 9.499 468.862 Depreciation and Impalmient At 1 January 2025 Depreciation charged in the year 45,996 4,050 2,891 6,237 916 59,174 9.964 At 31 December 2025 55,044 4,050 2,891 7,153 69,138 Carrying amount Al 31 December 2025 397,375 2,346 399,724 Al 31 December 2024 406.423 955 407,381 14-
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 14 Fixed asset investments Listed Other investments investsnents Total Cost or valuatton At 1 January 2025 Additions Valuation change5 C85h movements Facility rnovement Disposals 7.760,970 2,508,905 246,662 191,6481 173,7601 {3,479.4971 7.760,971 2.508,905 246,662 191,6481 173,7601 13,479,497) Al 31 December 202S 6,871.632 .871,633 Carrying amount Al 31 Decemb8r 2025 6,871,632 6.871,633 At 31 December 2024 7,760,970 7,760,971 2025 2024 Other investrnents comprise.. Notès Investments in subsidiaries 21 15 Debtors 2025 2024 Amounts falling due within one year: Amounts owed by subsidiary Ltndertakings Other debtors Prepayments atKI awued income 958,760 3.600 6,885 810.976 6.272 969.245 817.248 16 Crèditors- amounts falllng du& wlthln one yèar 2025 2024 Other taxation and social security Trade creditor5 Accruals and deferred income 15,047 132.553 14,703 9.493 7.761 15,328 182,303 32.582 15-
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEIVIBER 2025 17 Retirement benefit schemes 2025 2024 Dèfined contributlon schèmes Charge to profil or loss in respect of defined contribution schernes 17,248 12,128 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 18 Unrestricted lunds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These indude designatad fund5 which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2025 In¢omlng reSoUe5 Re$our¢e$ expended Galn$ and 10sses At31 December 2025 General funds 9,021,949 103,732 {1,047,8421 246,662 8,324,501 Previous yèar: At1 January 2024 In¢omlng resources Resources expended Gain$ #nd lo$$es At31 December 2024 General ftjnds 9,038,262 134,684 1941.1811 790,184 9,021.949 19 Analy$l$ of net assats betweèn funds Unrestricted 2025 Total 2025 Total 2024 Fund balance5 al 31 December 2025 are represented by.. Tangible assèts Investments Cuirenl 8sselsl{liabilitiesl 399,724 399.724 407,381 6,871.633 6,871.633 7.760,971 1,053,144 1,053.144 853,597 8.324.501 8,324,501 9.021,949 16-
THE WELLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 20 Related party tran$actions During the year the charity entèred into the following transactions relalgd parties.. During the period, £147.78412024.. £12.1081 was made available lo Welland Residential Holdings Limited, wholly owned subsrdiary. for the purpose of purchasing and mainlairiing properties lo fulfil ils principal 8Ctivilies. An amount of £nil12024.' £2991 has been repaid during Ihe year, leaving an amount still due from the subsidiary at the year end of £958,76012024'. £810.976). Ouring the period. donations of £12,000 12024.. £20.0001 were received from WeNand Residential Holding5 Limited, a wholly owned subsidiary, for the purpose of pui¢hasing and malnlaining piopertles lo fulfil 115 principle activities. During the period, £3,60012024.. £nill was tnade avaitable lo Tyre Hill Estate Limiled, a related party. Leaving an amount still due from the related party al the year end of £3.800 {2024.' £nill. During the period salary recharges of £3,60012024'. £Nill', £19,031 12024.. £Nill', and £58,194.7912024'. £Nill were rnade lo Refugee Host Support Limited, Rees Parent and Child Fostering Ltd., and Rees Parenting Support & Assessment Servis Limited respectively. related partios by virtue of the controlling interest of J Rees, a Trustee12024'. £Nill. 21 Subsidiaries Thèsè financial statements are separatè charity financial stslemenls foi The Welland Trust. Details of the ch8riVs subsidiaries al 31 December 2025 are a5 follows.. Name of undertaking Registered Nature of business Class of % Held shares held Direct Indirect Welland Rèsidential Holdings Limited Craftsman House Residential Property De Salis Orwe, Hampton Lovett, Dro11¢h, England, WR9 OQE Ordinary share 100.00 The aggregate capital and rèsgNas and thè rgsult for the year of sub5idiarie$ was as follows.. Name of undartaking ProfiUILossl Capital and Reserves Welland Residential Holdings Limited 122.4671 198.2151 17-