REGISTERED CHARITY NUMBER: 213327
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
FOR
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL
CHARITIES
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2025
| Page | |
|---|---|
| Report of the Trustees | 2-3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Statement of Cash Flows | 7 |
| Notes to the Financial Statements | 8 - 15 |
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
REFERENCE AND ADMINISTRATIVE DETAILS
Registrations
Almshouse Association Number 1791 Charity Commission Number 213327
Principal Office
Francis Greene House Grove Court Waltham Abbey Essex EN9 1BP
Trustees
J Law Chair L Anderson N Page Waltham Abbey Town Clerk P H Smith S J Colley
Managing Agents Harrison Housing 46 St James’s Gardens London W11 4RQ A Robson-Young FCCA J Grinham
Chief Executive Finance Manager
Independent Examiner Jan Rickler FCA Alwyns LLP Chartered Accountants Crown House 151 High Road Loughton Essex IG10 4LG
Bankers HSBC Bank 45 High Street Hoddesdon Hertfordshire EN11 8TA
Page 1
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
REPORT OF THE TRUSTEES
for the Year Ended 31 December 2025
The Trustees present their annual report along with the financial statements of the charity for the year ended 31 December 2025. The report includes details of those activities undertaken by the charity to further its charitable purposes for the public benefit. They have also complied with the duty in the Charities Act 2011 to have regard to public benefit guidance published by the Commission.
CONSTITUTION, CHARITABLE OBJECTS AND ACTIVITIES
Waltham Abbey Non-Educational Parochial Charities ("the Charity") was established in 1894 as Waltham Abbey Parochial Charities under a scheme of the Charity Commissioners. The Scheme was varied in 1912 and registered with the Charity Commission on 17 January 1963 under its present name. The Charity comprises 16 constituent charities, including Green’s Almshouses, which was originally established in 1626 by Francis Greene, Purveyor to King James I.
The primary purpose of the Charity is to provide accommodation for poor persons of good character. The Charity provides 11 almshouses built in 1992 known as Francis Greene House in Waltham Abbey to fulfill its purpose.
GOVERNANCE AND MANAGEMENT ARRANGEMENTS
Administration of the Charity is carried out by up to 10 trustees, appointed as follows:
-
(i) Three ex-officio Trustees, being the Rector of the Parish Church of the Holy Cross and St. Lawrence Waltham Abbey, the Town Clerk of Waltham Abbey and a minister or representative of “Churches Together” in Waltham Abbey;
-
(ii) Five Representative Trustees appointed by the Waltham Abbey Town Council. Each appointment being for a term of 4 years.
-
(iii) Two Co-Optative Trustees, being persons residing or carrying on business in or near the Parish of Waltham Holy Cross, appointed for a term of 5 years by a resolution of the Trustees.
Upon a vacancy arising, efforts are made to appoint a new trustee with relevant skills and background, having regard to the activities of the charity and the need to maintain a diversity of skills among the trustees. There is no formal induction or training but the existing trustees seek to ensure that all trustees are aware of their duties and are equipped with the knowledge to carry them out.
The trustees who served during the year ended 31 December 2025 are shown on page 1 of this report, as well as any changes in trustees after the year end.
Usually, the trustees meet quarterly to make decisions of policy and allocations, monitor performance, manage risk, receive accounts, and approve the budget and any significant expenditure. Day-to-day management is delegated to the managing agent, Harrison Housing. Representatives of the managing agent attend meetings of trustees but have no voting rights. The use of a managing agent enables the Charity to benefit from professional management.
PURPOSE, OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The Trustees have considered the Charity Commission guidance on public benefit and consider that the activities of the charity meet its charitable objects and provide a benefit to the public.
A CHIEVEMENTS AND FUTURE PLANS
Income from residents’ contributions for accommodation was £124,866 (2024: £109,975). The Weekly Maintenance Contributions are reviewed annually by the Trustees with new rates applied from 1 October each year, in 2025 this was 2.7%. The Charity occupancy rate was 99.58% in 2025 (2024: 91%), above the Charity’s target rate of 98%.
Expenditure on Charitable Activities was £134,288 (2024: £139,414). An analysis of these costs is shown in note 6 on page 11. The communal carpet was replaced in 2025 at significant cost (£10,411), this has driven the cost of repairs up from the 2024 cost. Void repairs have however reduced by £13,024 from 2024 as only 1 void occurred in the year. This is as opposed to 6 voids requiring maintenance work in 2024. Depreciation costs have risen as our tangible fixed assets have grown throughout the year and items delivered in 2024 have incurred a full year of depreciation in 2025.
The investment portfolio performed similarly to 2024 with regards to income, however has generated significantly improved returns of £8,370 (2024: £3,410) owing to the wider market performance enjoyed in 2025. Returns to start 2026 show marginal gain has been generated, despite the more general market downturn. The same was seen to begin 2025 whereby the M&G investments, comprising 71% of the charity’s investments, have outperformed the market during market decline.
Page 2
WALTHAM ABBEY NON-EDUCATIONAL PAR CHIAL CHARlEs REPORT OF THE TRUSTEES for the Year Ended 31 Detember 2 Th¢ value of Ihe Cyclical RepaiT5 Fund ai the sttrt of the year was £68.629 and has b¢¢n Jtduced by £10.411 cyc15cal $p¢nd in the y&Trr for replacement of the cwpet. A transfer of £25.000 is proTK)wJ to bring lh¢ fund £83,218 at the end of Ihc vcar io mainiain a 5ufficierti fijnd for future delivery of Cyclical Repwrs. Thc CxiraoFdinary Repairs Fund Itolds it funher balancL of £00.380 to provide additional support if required. A trdnsfer of £9.187 repr¢s¢niing ihe depreciation on assets acquired u5in8 IhL grant money rweived h&s bcen made from the s(Ki Housing Grants Fund to the General RerveS. RESERVES POLICY Designad res¢Tves are maintainedb&sedonguidance iU¢d by the AlmshouseAssociation forexpenditurcort cvclical rnaintenance and extrwrdinary repairs of thc Charity's prop¢ni¢s. The Truste¢s have r¢view¢d the reservcs policy and consider it prudent io keep sutTi¢ient general rcscrve5. riot invt%icd in tangible rjxed assets to cnable the paymentof running St$ for a minitnum 01. 12 months. Ai the pr¢sertt tim¢ the policy cannot b¢ achi¢ved but the TTUStees Temwn ¢tsnfLdeni ihat the Charity has suffjcienl working capital as a large pereeniage of its income compris¢5 Housing B¢nefil. REiATED PARTYTRANSACTIONS There wert no tran(11$ with related parttes during the peTiOd. IUSK POLICY AND RISK MANAGEMEIYT The Tnjsiees hav¢ revi¢wed the Risk Registu which s¢eks io idcntify ihe significani risks to which thc Charin is exstd and have thc plans in place io rnitigate ihos¢ risks.. The risks Itviewed include itK>5e relating to the operations and financ of the Chlty and ihev are satisfjed thai sysicrns in placc adequaicly tnitigate ihose risks. RcvisLd procedures are in plact io ensure ¢omplianGc with hth and safety ofresidents $tsff. and volunteers. STATEMEIWTOFTRusfEES RESPONSIBILITIES The irusiee5 are responsible for pr¢paTingihe Report ofthe Ttusiees and the firw>¢ial siatemenis in ac¢ordance i¥iih applicable law and Tcgulations. The law applicable 10 ChilieS in England & Wales requires the iNsiees to prepare financial statLmcnts for each rinancialyear in accordance wilh United Kingdom G¢n¢raJly Accepied Accounting Practir¢ (United Kirtgdom Acwuniingsiandards and applicable law). The trustees tTrust not approi'e the tinancial statemertts unle55 they ar¢ s&isfJed that they give a irue and fair view of the sthie of affairs of ihe charity and of the intoming rek)urces application of re50urces, inrluding Ihe income and expendi(UTe. of the charity lor that riod. In preparing th¢se financia] siateynenis. the trSleeS are requir¢d to.. select suitable accounting )11¢1¢5 3nd apply them consistentlyy ob5etvt the methods and prirtcipl&s in the Chariiits SORP- tnake judgtncnts and a¢Un11ng estimat¢s th are rc&wnable and prudent. state whcthcr applicable UK Accounting Standards havc be¢n followe4L subject LO anN maierial departures di5rlosed and explained in the finaDGial siatemcnts. prepar¢ the financial statements on the going cvncern basis unl5 it is inappN)pri to presume ihai Ihe charity will continue to OP¢t2te. The trusteesare r¢5ponsible for keepirbg Sufficient ac£ountingrecordsthatdisclose with reasonable atcuracy ai anv lime the financial )sition of the charity and cnable thcm to ensure thai ihe financial statcmenis comply with the Chzrili¢4 AGI 2011. thc Charity (Accounts and RerM)rt51 R¢gulation$ 2008 and the provisions of tht irusi d¢ed. They are also Ftsponsible tor saft2uallng the assets of thc charity and henee for tsking Teasonabl¢ steps forthe prevention and detcciion of fraud and other Irregulitie5. ON BEHALF OF THE BOARD: TRUSTEE Dated.. 2 June 2026 Page 3
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
Independent Examiner’s Report to the Trustees of Waltham Abbey Non-Educational Parochial Charities
I report to the charity trustees on my examination of the financial statements of the Charity for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of the Charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
J A Ricker, FCA ICAEW Alwyns LLP Chartered Accountants Crown House 151 High Road Loughton Essex IG10 4LG
Date:
Page 4
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2025
| Note INCOME & ENDOWMENTS FROM Charitable activities 3 Investment income 4 TOTAL INCOME EXPENDITURE ON: Charitable activities 6,7 TOTAL EXPENDITURE Net gains/ (losses) on investments NET (EXPENDITURE)/ INCOME BEFORE TRANSFERS Transfers Between Funds 13 NET (EXPENDITURE)/ INCOME AFTER TRANSFERS BETWEEN FUNDS RECONCILIATION OF FUNDS: 13 FUNDS BROUGHT FORWARD FUNDS CARRIED FORWARD |
Unrestricted General Designated £ £ 124,866 - 4,935 - 129,801 - 123,877 10,411 123,877 10,411 - - 5,924 (10,411) (15,813) 25,000 (9,889) 14,589 60,327 129,009 50,438 143,598 |
Restricted £ - - - - - 8,370 8,370 (9,187) (817) 428,961 428,144 |
Total 2025 £ 124,866 4,935 129,801 134,288 134,288 8,370 3,883 - 3,883 618,297 622,180 |
Total 2024 £ 109,975 4,783 |
|---|---|---|---|---|
| 114,758 | ||||
| 139,414 | ||||
| 139,414 | ||||
| 3,410 | ||||
| (21,246) - |
||||
| (21,246) 639,543 |
||||
| 618,297 |
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 5
WALTTrIAM ABBEY NON_EDUCATIONAL PAROCHIAL CHARITK BALANCE SHEET sai31 Dettm 2025 2024 Notes FIXED ASSETS Housing and OEher property InVeMertts io 474.784 129.089 485,685 603.873 602,797 CLIRRENT ASSETS-. D¢biors and prcpaytnents Cash a¢ bank and in hand 4.394 27.454 31.187 31.848 34.808 CREDITORS: Amounts flIng du¢ i¥'iihin on¢ year (13.541 19.308 NET CURRENT Assrrs: TOTAL ASSETS LIABILITIES: 6?? 180 618.?97 RESERVES: UnTesirict¢d..- InLome expenditure account IGcn¢rdl fiJnd} Designated res¢Tves 50.438 143.598 60.327 129.009 ResiriLt¢d..- Endoivmeni fund Social Housing Grant fund Revaluaiion Te5erYe 205,993 174.55) 47.599 205.993 183,739 6?? 180 618.297 The financ2al statements wcre approved artd #uthorised for issue by the Board of Tn]S*¢s on O? June 2026 and were signtd on its behalf by-. TRLISTEE.. The notes fonn of these financiJ sraiements Page 6
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
STATEMENT OF CASH FLOWS for the Year Ended 31 December 2025
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation charges Interest received Dividends received (Gains)/losses on investments (Increase)/decrease in debtors Increase/(decrease) in creditors Loss on disposal of fixed assets Net Cash provided/(used in) by operation activities STATEMENT OF CASH FLOWS Cash flows from operating activities: Cash generated from operations (See above) Cash flows from investing activities: Interest received Dividends received Dividends reinvested Purchase of tangible fixed assets Net cash provided by investing activities Change in cash and cash equivalents in the Reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2025 £ 3,883 38,706 (274) (4,661) (8,370) (772) (5,767) - 22,745 2025 £ 22,745 ______ 274 4,661 (3,607) (27,806) ______ (26,478) ______ (3,733) 31,187 ______ 27,454 |
2024 £ (21,246) 37,021 (422) (4,361) (3,410) 1,053 (448) - 8,187 2024 £ 8,187 ______ 422 4,361 (3,342) (20,371) ______ (18,930) ______ (10,743) 41,930 ______ 31,187 |
|---|---|---|
The notes form part of these financial statements
Page 7
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2025
1. ACCOUNTING POLICIES
Waltham Abbey Non-Educational Parochial Charities is a Charity registered in England & Wales, number 213327, and is governed by a Scheme approved by the Charity commission dated 17 January 1963.
Basis of Accounting
The accounts (financial statements) of the charity have been prepared on a going concern basis under the historical cost convention, with the exception that investments are included at market value. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS102) and applicable UK Accounting Standards and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Charity meets the definition of a public entity under FRS 102.
The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest pound
Going Concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.
Income and Endowments
All income is recognised in the Statement of Financial Activities when the charity is legally entitled to the income. Residents’ contributions (which includes Service charge income) are accounted for in the period to which they relate.
Expenditure and Basis of Apportioning Costs
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised once there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
Charitable expenditure
Costs for the full year include the costs of refurbishment, maintenance and management of the property and costs relating to the general welfare of the residents. All expenditure is charged in the financial year to which it relates.
Housing Properties and Component Accounting
The original Francis Greene Almshouses were constructed in 1626. Since there is no precise record of the original cost, no value is attributed thereto. The cost of the Housing Properties relates to improvements carried out since 1992 which have been funded by Social Housing Grant, a mortgage loan secured by a charge on the Almshouse properties, and from the Charities own resources.
Page 8
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2025
Housing Properties are stated at cost less accumulated depreciation and any impairment losses. Waltham Abbey Non-Educational Parochial Charities calculates depreciation by implementing component accounting. Estimated figures have been used where due to the elapse of time or the disproportionate cost of ascertaining the figures, it has not been possible to get actual information. This means that depreciation is charged based on the expected useful life of each component within the housing properties as follows:
| Freehold Property | 20 years |
|---|---|
| Building | 50 years |
| Warden Call system | 20 years |
| Mains water conversion | 20 years |
| Kitchens & Bathrooms | 20 years |
| Communal lounge furniture | 10 years |
| Fire Alarm system | 20 years |
| Communal areas radiators | 20 years |
| Electric heating (all flats) | 15-20 years |
| Kitchen Flat | 20 years |
| Windows | 30 years |
| Guttering | 20 years |
Other Tangible Fixed Assets
Plant and machinery is stated at cost less accumulated depreciation and any impairment losses. Assets are written off on a straight line basis over 5 – 50 years.
Major Repairs
Costs of major repairs, unless representing improvements to the fabric of the Housing Properties, are charged to the SOFA in the year in which they are incurred.
Impairment
At each Balance Sheet date, housing properties are assessed to determine if there are indicators that the properties may be impaired in value; if there are such indicators of impairment, then a comparison of the properties’ carrying value is compared to its recoverable amount is undertaken. Any excess over the recoverable amount is recognised as an impairment loss and charged as expenditure in the SOFA; the carrying value is reduced appropriately.
Investments
Investments are measured initially at cost and subsequently at fair value (their market value) at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year. The trustees adopt a cautious investment policy so as to minimise risk. Investments are monitored and reviewed by trustees on a regular basis.
Social Housing Grant
Social Housing Grant (SHG) was paid by the Housing Corporation to reduce the cost of development. In accordance with the Charity SORP (FRS 102) the SHG is recognised as income in the year of receipt and treated as a restricted fund (Social Housing Grant Fund). This fund is reduced annually over the expected useful life of the building. The total SHG received was £459,349 and is repayable usually only if the property is demolished. The value of the grant would usually transfer with the property to new owners if sold.
Cash at bank and in hand
Cash at bank and in hand includes current and bank deposit accounts with no withdrawal limitations.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
Financial Instruments
Financial assets and financial liabilities are recognised in the statement of financial position when the Charity becomes a party to the contractual provisions of the instrument.
Trade (including rental) and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Charity will
Page 8
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Charity’s cash management.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
The Designated reserve consists of funds set aside to meet maintenance costs in excess of annual budgeted expenditure.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
Value Added Tax
Waltham Abbey Non-Educational Parochial Charities is not registered for VAT and in these financial statements, where applicable, expenditure shown is inclusive of VAT.
2. STATEMENT OF FINANCIAL ACTIVITIES (2024 COMPARATIVE)
| INCOME & ENDOWMENTS FROM: Charitable activities Investment income TOTAL INCOME EXPENDITURE ON: Charitable activities TOTAL EXPENDITURE Net losses on investment assets NET (EXPENDITURE)/INCOME BEFORE TRANSFERS Transfers Between Funds NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: FUNDS BROUGHT FORWARD FUNDS CARRIED FORWARD |
Unrestricted General Designated £ £ 109,975 - 4,783 - 114,758 - 139,414 - 139,414 - - - (24,656) - 29,558 (20,371) 4,902 (20,371) 55,425 149,380 60,327 129,009 |
Restricted £ - - - - - 3,410 3,410 (9,187) (5,777) 434,738 428,961 |
Total 2024 £ 109,975 4,783 |
|---|---|---|---|
| 114,758 | |||
| 139,414 | |||
| 139,414 | |||
| 3,410 | |||
| (21,246) - |
|||
| (21,246) | |||
| 639,543 618,297 |
Page 8
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2025
3. WEEKLY MAINTENANCE CONTRIBUTIONS
| EKLY MAINTENANCE CONTRIBUTIONS | |
|---|---|
| Gross amount receivable Less: Voids |
2025 2024 £ £ 125,352 118,577 (486) (8,602) |
| 124,866 109,975 |
4. INTEREST RECEIVABLE AND SIMILAR INCOME
| Dividends Interest received |
2025 2024 £ £ 4,661 4,361 274 422 |
|---|---|
| 4,935 4,783 |
5. TRUSTEES’ AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES
The Trustees, who comprise all the Key Management Personnel of the Charity, neither received nor waived any remuneration during the year (2024: £nil). The Trustees did not have any expenses reimbursed during the year (2024: £nil). Harrison Housing were employed by the Trustees to act as the Managing Agent for the charity and are responsible for day-to-day administration.
Employees
There were no employees in 2025 (2024: Nil).
6 . EXPENDITURE ON CHARITABLE ACTIVITIES
| Direct Expenditure Repairs & maintenance Repairs – voids Gardening Lighting & heating and water Property operating costs Bad Debts Insurance Depreciation Support costs (see below) Governance costs (see below) |
2025 2024 £ £ 35,697 25,788 798 13,822 1,588 1,440 11,275 11,550 1,594 1,526 (130) 3,271 2,575 3,069 38,706 37,021 38,401 38,289 3,784 3,638 |
|---|---|
| 134,288 139,414 |
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WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2025
6. EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
| Support costs Management Fee Other expenditure Governance costs Independent Examiner’s fees |
2025 2024 £ £ 36,308 35,175 2,093 3,114 |
|---|---|
| 38,401 38,289 |
|
| 2025 2024 £ £ 3,784 3,638 |
|
| 3,784 3,638 |
7. TAXATION
The charity is a registered charity and as such its income and gains falling within section 471 to 489 of the Corporation Tax act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 are exempt from corporation tax to the extent that they are applied to its charitable objectives.
8. FIXED ASSET INVESTMENTS
| Investments comprise the following: 1,244 COIF Income Shares COIF Deposit Fund M&G Charity Asset Income Fund M&G Charity Asset Accumulation Fund 31 December Market Value: 1 January Accumulated Income reinvested Unrealised gains/(losses) 31 December |
2025 2025 Market Value Cost £ £ 24,036 5,748 12,848 12,848 8,493 2,843 83,712 25,796 |
2024 2024 Market Value Cost £ £ 25,245 5,748 12,328 12,321 7,623 2,843 71,916 22,716 |
|---|---|---|
| 129,089 47,235 |
117,112 43,628 |
|
| 2025 2024 £ £ 117,112 110,360 3,607 3,342 8,370 3,410 |
||
| 129,089 117,112 |
The original cost of investments cannot be ascertained, so they have been stated at their values on 1 April 1988. Additional investments since that date are valued at cost.
Page 12
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2025
9 . INVESTMENT REVALUATION RESERVE
| Balance brought forward Unrealised gains/(losses) Balance carried forward |
2025 2024 £ £ 39,229 35,819 8,370 3,410 |
|---|---|
| 47,599 39,229 |
10. TANGIBLE FIXED ASSETS
| Cost or Valuation At 1 January 2025 Additions during the year Disposal during the year At 31 December 2025 Depreciation At 1 January 2025 Charge for the year Disposal At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 |
Freehold Housing Property New Build Property Plant & Machinery Total 807,882 40,487 267,245 1,115,614 - - 27,806 27,806 - - (14,682) (14,682) |
|---|---|
| 807,882 40,487 280,369 1,128,738 |
|
| 504,781 40,487 84,661 629,929 16,158 - 14,956 31,114 - - (7,089) (7,089) |
|
| 520,939 40,487 92,528 653,954 286,943 - 187,841 474,784 |
|
| 303,101 - 182,584 485,685 |
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Weekly maintenance contributions Less: Bad Debt Provision Prepayments |
2025 2024 £ £ 4,828 8,740 (2,996) (7,371) 2,562 2,252 |
|---|---|
| 4,394 3,621 |
Page 13
WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2025
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accruals |
2025 2024 £ £ 2,118 11,768 11,423 7,540 |
|---|---|
| 13,541 19,308 |
13. RESERVES
| Funds balances 31.12.24 |
Income | Expenditure | Gains/(losses) on investments |
Transfers between funds |
Funds balances 31.12.25 |
||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | ||
| General funds | 60,327 | 129,801 | (123,877) | - | (15,813) | 50,438 | |
| Designated ERF | 60,380 68,629 205,993 183,739 39,229 |
- - - - - |
- (10,411) - - - |
- - - - 8,370 |
- 25,000 - (9,187) - |
60,380 | |
| Designated CMF | 83,218 | ||||||
| Endowment Fund | 205,993 | ||||||
| Social Housing Grant Fund | 174,552 | ||||||
| Revaluation Reserve | 47,599 | ||||||
| 618,297 | 129,801 | (134,288) | 8,370 | - | 622,180 | ||
| Funds balances 31.12.23 |
Income | Expenditure | Gains/(losses) on investments |
Transfers between funds |
Funds balances 31.12.24 |
||
| £ | £ | £ | £ | £ | £ | ||
| General funds | 55,425 | 114,758 | (139,414) | 29,558 | 60,327 | ||
| Designated ERF | 60,380 | - | - | - | - | 60,380 | |
| Designated CMF | 89,000 | - | - | - | (20,371) | 68,629 | |
| Endowment Fund | 205,993 | - | - | - | - | 205,993 | |
| Social Housing Grant Fund | 192,926 | - | - | - | (9,187) | 183,739 | |
| Revaluation Reserve | 35,819 | - | - | 3,410 | - | 39,229 | |
| 639,543 | 114,758 | (139,414) | 3,410 | - | 618,297 |
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WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2025
Analysis of net assets by funds:
| nalysis of net assets by funds: | |||
|---|---|---|---|
| Fixed assets |
Current assets |
Current liabilities Net assets |
|
| £ | £ | £ £ |
|
| General funds | 32,131 | 31,848 | (13,541) 50,438 |
| Designated ERF | 60,380 | - | - 60,380 |
| Designated CMF | 83,218 | - | - 83,218 |
| Endowment | 205,993 | - | - 205,993 |
| SHG Fund | 174,552 | - | - 174,552 |
| Revaluation Reserves | 47,599 | - | - 47,599 |
| 603,873 | 31,848 | (13,541) 622,180 |
The Designated reserve consists of funds set aside to meet maintenance costs in excess of annual budgeted expenditure.
14 . CAPITAL COMMITMENTS
At 31 December 2025 there were no contracted capital commitment (2024: £nil).
At 31 December 2025 there were no capital commitments authorised but not contracted either (2024: £30,000).
15 . HOUSING STOCK
There were 11 units under management at 31 December 2025 (2024: 11 units)
16. RELATED PARTY TRANSACTIONS
There were no related party transactions either this year or last year.
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