Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
Companies House number: 12176231 Registered Charity number: 1198106
## WH COMMUNITY TRUST
# REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
For the period ended 31 March 2025
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust For the Year Ending 31 March 2025
## **Contents**
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Report of the Trustees|2|
|Independent Auditors Report|6|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes to the financial statements|12|
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
For the Year Ended 31 March 2025
## **Reference and Administrative Details**
|**Trustees**|Helen Rice (Chair)|
|---|---|
||Guy Collar (resigned 30 November 2024)|
||Donna Cezair|
|**Company Secretary**|Julian Pitcher|
|**Registered office**|Davison House|
||North Street|
||Worthing|
||West Sussex BN11 1ER|
|**Legal status**|Companies House number: 12176231|
||Charity number: 1198106|
|**Auditors**|Kreston Reeves Audit LLP|
||9 Donnington Park|
||85 Birdham Road|
||Chichester|
||West Sussex|
||PO20 7AJ|
|**Bankers**|Lloyds Bank Plc|
||3rd Floor, 25 Gresham Street|
||London EC2V 7HN|
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Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
## **Report of the Trustees**
The trustees, who are directors of the charitable company for the purposes of company law, present their report with the financial statements of WH Community Trust (the Trust) for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.
## **Chair’s report** .
## Together Arun
The project was formerly run by Worthing Homes Limited and was set up as the country first exited lockdown, with the aim of rebuilding communities, with many people having felt lost and separated from the wider community and friendship groups. Many of those had suffered social isolation and hardship during this period and the project provided a range of activities to help alleviate the effects.
Unfortunately, the project was unsuccessful in our bid for continued funding from the National Lottery Community Fund and was officially closed down during the year. However, many of the activities begun under the project have continued, driven by the community themselves – a fitting legacy of the work done over that last 4 years.
## Community House
Community House has been an established part of the landscape for over 15 years and continues to build on its activity base both at the House itself but also at a number of other venues in the East Worthing Community.
Each year we seek to build on the activities we offer to reach the largest number of people possible. Our pottery classes in particular are incredibly popular with waiting lists for every set of sessions. This year we have also taken “Community House on the Road” – taking our activities to new venues to reach even more people. The benefits of these activities have been significant with people reporting better mental health and having something to look forward to as well as the sheer fun of the activity and connecting with others.
The link between physical activity and mental wellbeing is well documented and so this year we have begun a “Yes You Can” campaign in conjunction with a local gym. So far,16 people have completed an 8-week programme of gym sessions and have subsequently continued on their fitness journey. We also run local Zumba and Yoga sessions which are regularly full and offer several different mindfulness sessions from the House, including Reiki healing which is new this year.
We continued to provide a daily foodbank, and there has been a continual increase in need for its services. The average number of visitors per month were 1146, compared to 989 per month in the last financial period.
## The Future
The rationale behind establishing WH Community Trust as a separate entity was to allow us to access additional funding streams for our Community Development work. Unfortunately, this has not been as successful as we had hoped and combined with the additional overheads of running a separate organisation, we will be ceasing the activities of the Trust from 31[st] March 2025. As such, the financial statements have been prepared on a basis other than going concern as described in Note 2.
We will continue to deliver the good work of WH Community Trust from within Worthing Homes.
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
## **Report of the Trustees (continued)**
## **Directors/Trustees**
The directors/trustees who have held office during the year are as follows:
Helen Rice (Chair) Guy Collar (resigned 30 November 2024) Donna Cezair
## **Objectives and Activities**
The objectives of the Trust are:
1. The relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage by the provision of accommodation and care to such persons of the areas in which Worthing Homes Limited (the Parent) operates.
2. The provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life for the residents of areas in which the Parent operates.
3. The relief of financial hardship amongst the residents of the areas in which the Parent operates.
4. The promotion of social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society for the residents of areas in which the Parent operates.
5. Any other charitable purposes for the public benefit as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine.
The trustees have had regard to the Charity Commission guidance on public benefit.
## **Achievement and Performance**
During the year Trust continued to have a significant impact upon the local community, with it being calculated that it generated a social value of £7,740,729 during 2024-25, as calculated using the established methodology of the Housing Association Charitable Trust (HACT).
Each pound spent on Community House generated £67.11 of social value.
## Community House
Community House has seen an increase in the numbers accessing its food bank service with 13,757 visits in total during the year, compared to 11,870 visits during 23-24, an increase of 15.9%. Community House also continues to provide emergency food parcels, in addition to this, Christmas lunches were also provided to over 100 families.
Community House has continued to provide a number of courses/classes & groups for the local community, with a varied range of activities offered, from Baby and toddler sessions through to yoga, Zumba, crafting and pottery classes. We also offer several mindfulness sessions from the House including Reiki healing which is new this year.
It should be noted that although facilitated by the Trust, Community House is reliant upon volunteers to provide a number of these services, with 21 individuals currently helping to support it.
3
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
## **Report of the Trustees (continued)**
## Together Arun
The termination costs of the Together Arun project have been funded by Worthing Homes following the unsuccessful bid for further Lottery funding.
## **Financial Review**
The Trust is reliant on the funding provided from Worthing Homes Limited for its general operations which accounts for 95% of the total income of the Trust for the year ended March 2025.
Total donations received in the year were £216,860 (2024: £256,818), with Worthing Homes Limited donating £207,546 The statement of financial activities shows a surplus on the unrestricted funds and total funds of £16,405 (2024: £6,648). The surplus on the restricted funds is £nil (2024: £nil).
The charitable company has been unable to secure external funding for future years. As such, the Trustees have elected to transfer the activities of the Trust to its parent company, Worthing Homes Limited as this results in a more cost-effective means to carry on supporting the Worthing Homes community. The financial statements have been prepared on a basis other than going concern.
## **Structure, Governance and Management**
WH Community Trust is a wholly owned subsidiary of Worthing Homes Limited. The company is limited by guarantee governed by its Memorandum and Articles of Association dated 10 February 2022. Worthing Homes Limited has subscribed as the sole member of the company. The liability of Worthing Homes Limited as member is limited to £1.
As set out in the Articles of Association the trustees can be appointed, removed or replaced by the parent company Worthing Homes Limited.
## **Reserves Policy**
The trustees aim to accumulate and maintain reserves at a level which equates to approximately two months of unrestricted charitable expenditure. The trustees consider that this level is sufficient given the support provided by the parent company Worthing Homes Limited.
The balance held as unrestricted funds at 31 March was £32,772. Two months unrestricted expenditure is £24,282. The current level of reserves is therefore sufficient.
4
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
## **Report of the Trustees (continued)**
## **Trustees' responsibilities statement**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Trust and of its incoming resources and application of resources, including its income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Trust’s transactions and disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditors**
Each of the persons who are trustees at the time when this Report of the Trustees is approved has confirmed that so far as that Trustee is aware, there is no relevant audit information of which the Trust's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the Trust's auditors are aware of that information.
## **Auditors**
The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. Kreston Reeves Audit LLP were formally appointed as auditor to the charity on 6 October 2025.
The auditors, Kreston Reeves Audit LLP, have indicated their willingness to continue in office.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
4/12/2025
This report was approved by the board of trustees on …………………… and signed on behalf of the board by:
Chair – Helen Rice
___________________
5
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
For the Year Ended 31 March 2025
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF WH COMMUNITY TRUST**
## **Opinion on the financial statements**
We have audited the financial statements of WH Community Trust (“the Trust”) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, and notes to the financial statements, including a summary of 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:
- give a true and fair view of the state of the Trust’s affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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 Trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’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.
## **Emphasis of matter – financial statements prepared on a basis other than going concern**
We draw attention to Note 2 to the financial statements which explains that the Trustees intend to dissolve the charitable company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.
## **Other information**
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. 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 course of 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.
6
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
For the Year Ended 31 March 2025
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF WH COMMUNITY TRUST (CONTINUED)**
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the Trust and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report 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 returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.
## **Responsibilities of Trustees**
As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the Trust 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 Trust’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 Trust 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 Auditors' 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
7
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
For the Year Ended 31 March 2025
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF WH COMMUNITY TRUST (CONTINUED)**
## _Capability of the audit in detecting irregularities, including fraud_
Based on our understanding of the Trust and sector, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to related to the Charities Act 2011, health and safety, anti-bribery, GDPR legislation and tax legislation. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP (FRS 102) 2019, the Charities Act 2011, the Companies Act 2006 and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure and management bias in accounting estimates.
Audit procedures performed by the engagement team included:
- Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations and fraud; and
- Assessment of identified fraud risk factors; and
- Challenging assumptions and judgements made by management in its significant accounting estimates; and
- Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
- Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
- Reading minutes of meetings of those charged with governance; and
- Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and
- Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation; and
- Challenging assumptions and judgements made by management in its significant accounting estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Trust's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
8
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
For the Year Ended 31 March 2025
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF WH COMMUNITY TRUST (CONTINUED)**
- Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Trust's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' Report. However, future events or conditions may cause the Trust to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **Use of our report**
This report is made solely to the Trust’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 Trust’s members those matters we are required to state to them in an Auditors' 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 Trust and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
**Lucy Hammond BSc FCA (Senior statutory auditor)** For and on behalf of **Kreston Reeves Audit LLP** Statutory Auditor Chichester
Date: 9/12/2025
9
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
## WH Community Trust
For the Year Ended 31 March 2025
## **Statement of Financial Activities** (incorporating and income and expenditure account)
|**Notes**
**Income and Endowments**
**from**
Donations and legacies
3
Other trading activities
Interest Receivable
**Total Incoming Resources**
**Expenditure**
Raising funds
4
Charitable activities
4
**Total Expenditure**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED**
**FORWARD**
8|Unrestricted
Fund 2025
Restricted
Fund 2025
**Total**
**2025**
Unrestricted
Fund 2024
Restricted
Fund 2024
Total
2024
£
£
**£**
£
£
£
216,860
-
**216,860**
151,951
104,867
256,818
2,970
-
**2,970**
95
-
95
595
-
**595**
291
-
291|
|---|---|
||220,425
-
**220,425**
152,337
104,867
257,204|
||12,500
-
**12,500**
-
12,500
12,500
191,520
-
**121,520**
145,689
92,367
238,056|
||204,020
-
**204,020**
145,689
104,867
250,556|
||16,405
-
**16,405**
6,648
-
6,648
16,367
-
**16,367**
9,719
-
9,719|
||32,772
-
**32,772**
16,367
-
16,367|
All activities are recognised on a basis other than going concern, as disclosed in Note 2.
The notes on pages 12 to 16 form part of these financial statements.
10
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
## WH Community Trust
For the Year Ended 31 March 2025
## **Balance Sheet – As at 31[st] March 2025 Company Number: 12176231**
|**Notes**
**Current Assets**
Debtors
6
Cash at bank and in hand
**Creditors: amounts falling**
**due within one year**
7
**Net Assets**
**Funds**
Unrestricted Funds
8
Restricted Funds
8
**Total**|Unrestricted
Fund 2025
Restricted
Fund 2025
**Total**
**2025**
Unrestricted
Fund 2024
Restricted
Fund 2024
Total
2024
£
£
**£**
£
£
£
621
-
**621**
114
-
114
97,780
-
**97,780**
62,628
-
62,628|
|---|---|
||98,401
-
**98,401**
62,742
-
62,742|
||65,629
-
**65,629**
46,375
-
46,375|
||32,772
-
**32,772**
46,375
-
46,375|
||32,772
-
**32,772**
16,367
-
16,367
-
-
**-**
-
-
-|
||32,772
-
**32,772**
16,367
-
16,367|
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved and authorised for issue by the board on ……………….. 4/12/2025 and signed on their behalf by:
Chair – Helen Rice
____________________
The notes on pages 12 to 16 form part of these financial statements.
11
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
For the Year Ended 31 March 2025
## **Notes to the financial statements**
## **1. LEGAL STATUS**
WH Community Trust is a private charitable company limited by guarantee and registered in England and Wales.
## **2. ACCOUNTING POLICES**
## **Basis of preparing the financial statements**
These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these financial statements **.**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2026.
The Trust constitutes a public benefit entity as defined by FRS 102.
As more fully disclosed in note 10, the charitable company’s activities together with certain of its assets and liabilities were transferred to the parent association, Following the transfer, it is the intention of the Trustees to dissolve the charitable company as soon as practicable to do so. For this reason, the Trustees do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. The financial statements have been prepared on a basis whereby the charitable company’s assets are stated at amounts which are not greater than the amounts expected to be realised in the period up to the date of transfer or dissolution, liabilities have been recognised as and when they become due, and provisions, if any, have been made for any known or expected obligations arising from the transfer and dissolution.
## **Financial Reporting Standard 102 – reduced disclosure exemptions**
The Trust has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102:
- The requirements of Section 7 Statement of Cash Flows.
- The requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii),11.48(a)(iv), 11.48(b), 11.48(c).
- The requirements of paragraphs 12.26, 12.27, 12.29(a),12.29(b), and 12.29A.
- The requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23.
- The requirement of paragraph 33.7.
## **Income**
All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Income from donations and legacies comprises income generated from the following sources:
- Gifts and donations received/receivable including legacies.
12
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
WH Community Trust
For the Year Ended 31 March 2025
## **2. ACCOUNTING POLICES (continued)**
## **Income (continued)**
Should donations and legacies be received subject to the specific wishes of the donor, they would be credited to the relevant restricted funds.
Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the Trust 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.
## **Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.
VAT is irrecoverable, and expenses shown include this tax.
## **Debtors**
Other debtors are recognised at the settlement amount.
## **Cash and cash equivalents**
Cash and cash equivalents in the Trust’s statement of financial position consists of cash at bank, in hand, deposits and short term investments with an original maturity of three months or less.
## **Liabilities**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are measured at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **Fund accounting**
The unrestricted revenue reserve reflects the historic realised surpluses of the Trust. The reserves will be utilised to further the aims of the Trust with Trustee approval.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Trust for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.
13
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
## WH Community Trust
For the Year Ended 31 March 2025
## **3. DONATIONS AND LEGACIES**
|Together Arun Grant Funding
Donation from Worthing
Homes Limited
Other Donations & Gifts
**4. EXPENDITURE**
**Raising funds**
Management Charge
**Charitable Activities**
Group Work & Participation
Community Development
Staff Costs
Other Support Costs
**Total Expenditure**|Unrestricted
Fund 2025
Restricted
Fund 2025
**Total**
**2025**
Unrestricted
Fund 2024
Restricted
Fund 2024
Total
2024
£
£
**£**
£
£
£
-
-
**-**
-
104,867
104,867
207,546
-
**207,546**
150,386
-
150,386
9,314
-
**9,314**
1,565
-
1,565|
|---|---|
||216,860
-
**216,860**
151,951
104,867
256,818|
||Community
House and
Other
Activities
Together
Arun
Grant
Funded
**Total**
**2025**
Community
House and
Other
Activities
Together
Arun
Grant
Funded
Total
2024
£
£
**£**
£
£
£
12,500
-
**12,500**
-
12,500
12,500|
||27,334
-
**27,334**
31,014
32,560
63,574
-
-
**-**
-
-
-
132,873
-
**132,873**
78,726
59,548
138,274
31,313
-
**31,313**
35,949
259
36,208|
||191,520
-
**191,520**
145,689
92,367
238,056|
|||
||204,020
-
**204,020**
145,689
104,867
250,556|
Other support costs include office overheads and governance costs.
Governance costs consist of external audit fees of £10,332 (2024:£10,200).
14
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
## WH Community Trust
For the Year Ended 31 March 2025
## **5. EMPLOYEES**
|Wages and salaries
National insurance
Pension costs
Total|Unrestricted
Fund 2025
Restricted
Fund 2025
**Total**
**2025**
Unrestricted
Fund 2024
Restricted
Fund 2024
Total
2024
£
£
**£**
£
£
£
105,011
-
**105,011**
52,666
52,124
104,790
9,074
-
**9,074**
5,008
4,339
9,347
7,661
-
**7,661**
3,544
3,085
6,629|
|---|---|
||121,747
-
**121,747**
61,218
59,548
120,766|
Staff were directly employed by the parent company, Worthing Homes Limited. Costs attributable to services provided to WH Community Trust amounted to £121,747 (2024: £120,766).
The average number of employees working for the Trust during the period was 6 (2024 – 5).
There were no employees who received total employee benefits (excluding pension costs) of more than £60,000.
During the year, termination payments totalling £5,933 (2024: £Nil) were paid. These consisted of contractual termination benefits. These are recognised as an expense on the employment end date. At the balance sheet date there were no outstanding amounts relating to termination benefits.
None of the trustees were remunerated in the year and there was no reimbursement of expenses for trustees.
## **6. DEBTORS**
||Unrestricted|Restricted|**Total**|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||Fund 2025|Fund 2025|**2025**|Fund 2024|Fund 2024|2024|
||£|£|**£**|£|£|£|
|**Due within one year**|||||||
|Amounts due from Worthing|621|-|**621**|114|-|114|
|Homes Limited|||||||
## **7. CREDITORS**
|**Due within one year**
Trade Creditors
Other Creditors
Accruals & deferred income
Amounts due to Worthing
Homes Limited
Total|Unrestricted
Fund 2025
Restricted
Fund 2025
**Total**
**2025**
Unrestricted
Fund 2024
Restricted
Fund 2024
Total
2024
£
£
**£**
£
£
£
2,890
-
**2,890**
7,731
-
7,731
-
-
**-**
19
-
19
30,618
-
**30,618**
24,786
-
24,786
32,121
-
**32,121**
13,839
-
13,839|
|---|---|
||65,629
-
**65,629**
46,375
-
46,375|
15
Docusign Envelope ID: 64A0C450-9710-4E23-85C0-CF525C29B0A8
## WH Community Trust
For the Year Ended 31 March 2025
## **8. FUNDS**
## **Analysis of fund movements**
|Restricted Fund
Unrestricted Fund
Total
**Analysis of fund movements – prior year**
Restricted Fund
Unrestricted Fund
Total|Balance
1 April 24
£
-
16,367
16,367
Balance
1 April 23
£
-
9,719
9,719|Income
£
-
220,425
220,425
Income
£
104,867
152,337
257,204|Expenditure
£
-
204,020
204,020
Expenditure
£
104,867
145,689
250,556|**Balance**
**31 March 25**
**£**
**-**
**32,772**
**32,772**
Balance
31 March 24
£
-
16,367
16,367|
|---|---|---|---|---|
## **Analysis of fund movements – prior year**
The restricted funds are those funds that have been designated as restricted by the grant provider for the Together Arun project.
## **9. RELATED PARTY DISCLOSURES**
Worthing Homes Limited (parent company), is a registered provider of social housing, with 4,174 homes in the Sussex coastal area, offering social, affordable and intermediate rented housing as well as shared ownership and market sale homes.
Worthing Homes Limited is a registered community benefit society, registration number RS008337. The registered office address is Davison House, North Street, Worthing, West Sussex, BN11 1ER.
During the year, Worthing Homes Limited made donations totalling £207,546 (2024: £150,386) to the WH Community Trust and charged management fees of £12,500 (2024: £12,500). Salary costs recharged are shown in note 5. Outstanding balances at the year end are shown in notes 6 and 7.
## **10. POST BALANCE SHEET EVENTS**
The charitable company has been unable to secure additional funding to independently support it’s charitable objectives. Effective 1 April 2025, the Trustees entered into an arrangement with the parent association, Worthing Homes Limited (“WHL”), under which the charitable company’s activities would be transferred to WHL.
Following the transfer, it is the intention of the Trustees to make plans for the orderly dissolution of the charitable company as soon as it is practicably possible to do so.
16