ATERHOUSE ACKiwfosH HOMES UNITED CHARITIES OF NATHANIEL WATERHOUSE UNAUDITED FINANCIAL STATEMENTS 29 FEBRUARY 2024 CHARITY REGISTRATIOIY NUMBER: 223894 STREETS SPENSER WILSON CI¢AXTIRILI ALLVYNTANT5
UNITED CHARITIES OF NATHANIEL WATERHOUSE FINANCIAL STATEMENTS YEAR ENDED 29 FEBRUARY 2024 PAGE Trustees, ai)nual report Iiidependent examiner's report to the trustees Statement of litsancial activities Sl8teincT)t of financial position io Notes to the financial statements
UNITED CHARITIES OF NATHANIEL WATERHOUSE TRUSTEES, ANNUAL REP(IRT YEAR ENDED 28 FEBRUARY 2024 The triistees present their report and the unaiidited financial statemenis of the charity for the year ended 29 February 2024. REFERENCE AND ADMINISTRATIVE DETAILS REGISTERED CHARITY NAME United Charities of Nathaniel Waterhouse CHARITY REGISTRATION NUMBER 223894 PRINCIPAL OFFICE The Warden'5 House W8terliousc Hoines Harrison Road Halifax West Yorkshire HXI 2AZ THE TRUSTEES Lucy Armltage- Chair Chrislophcr A Reynolds John W Asquith Ro&F¢r M Verity (resigned 7 Scptejnber 2023} Wendy Astin Rev Canon H Barbcr Dr Roger W Pool Helen Rhodes {r¢signed 14 June20231 F Mike Berry Rob Ro.%borough Mark 14olroyd {appoinied 14 June 2023) Palsy Dor8ct {appoinled 14 Jun¢ 2023) Jam¢s M Walker {8ppointcd 13 December 2023) COMPANY SECRETARY George R Pickles RIBA BANKERS CAF Bank Lid 25 Kings Hill Avei)ue Kings Hull Wesl Malling Kent ME194JQ INDEPENDENT EXAMINER Andr¢a Kennedy BFP FCA FCCA Arf(Fellowl Equitable House 55 Pellon Lane Halifax Wesl Yorkshire HXI 5SP
UNITED CHARITIES OF NATHANIEL WATERHOUSE TRUSTEES, ANNUAL REPORT (eoniiwuetl) YEAR ENDED 29 FEBRUARY 2024 STRUCTURE, GOVERNANCE AND MANACEMENT INTRODUCTION BY THE CHAIRMAN OF TRUSTEES, LUCY ARMITAGE In niy first year a5 Chair. l am pleased io introdiice this r¢port which covers th¢ period froni March 23 to February 24. A 5uinniary of the Charity's actii'ities and our financial standing diiring this period is given in the reports from the Finance. Residents and Personi)el and Premises sub-conimiftees. These rcport5 deinonstrate how i¥e are fullilling our cl)aritable objectives by providing cldcrly people 'in need" Ivitli coinfortable, safe and supported accommodation. Trusi¢¢s Roger Verity and Helei) Rhodes resigyned and thanks to them for their hard work on behalf of the cl)arit)'. Roger wa5 Chair of F inance foT a i)uinber of J'ears and deserves parliculaT tlianks for his care and attenlion in looking after the cl)arity's finances. ThTC¢ new trustees were 2ppointed during this period and we W#TJnly welcomed Michael Walker. Palsy Dorset and Mark Holroyd to tlie board. Thanks go 10 all ilic trustees for their lime, care and expertise. Thanks also go to oiir Srheine Managers John and Caih Giddings M,lio are pivotal io th¢ running of the chaTiry and do an exccllcnt job and to George Pickles, our Clerk who was working toivards Iiis Tetirement duriiig this period and handiiig over his respoiisibililies. Finally, thank you to Dr Roger Pool who retired as Cliairnian at ihe AGM in Septeinber 2023. He ivas an excelleiii leader of the irusie¢ team ai)d al'ayS approached his responsibilities Wlth diligence aiid thDu&Jhtfulness. We are pleased that he remains a5 the Chair of the Residents and Personnel Committee. Whgt of the futurt We made significant progress towards updatll)L Ilie Cliarity Scl)eme and at the end of this period we ¢r¢ ready to appoini legal represei)tation io a55iSt i%'ith the il'ork of modernisiiig our charity scheme and establisliing a Corporate TTUStee Inodel. This will be ongoinL iliroughout il)e next livelve montlis W()Tking M'ith Stone King wlio w'e selected aftcr a due diligence proccss aiid will ensure Ilie Charities continue to be as strong as possible as we look to the futur¢. STRUCTURE, GOVERNANCE AND MANACEMENT The Charity is organised 80 that the Trustees IM¢¢t quarterly to manage its affairs. Recruiln)enl 15 by word of Inouth. advertisingT and netivorking at comiiiunity events. New Trustees are given a prograii)nie of induction by the Clerk and additional training events are available to all Trustees. The Charity is organised so that ihe Trustee5 meet quarterly to nianage ils affairs. Recruitment is by word of niouth. advertising and netlVOTking at comniiinily cvcnls. Neiv I'ruslecs are given a programine of inductioi) by the Clerk and addiiional training evenis ar¢ available to all Trustccs. All rneii)bers of the Board of Trustees give their iin)e voluntarily and receive no benefits from the Charity.
UNITED CHARITIES OF IYATHANIEL WATERHOUSE TRUSTEES, ANNUAL RFPORT (eoliiihuej YEAR ENDED 29 FEBRUARY 2024 STRUCTURE, GOVERNANCE AND MANACEMENT Tlie Trustees fi)Ilow tl)e reqiiirement5 of the 1960 scheme - 8 Private Act of Parliament Act and also refer lo the &Juidance coiitained in the Alnisliouse Associaiioii 'Standards of Almshouse Maiiageinent 2019, and on tlie Charity Coinini55ion website. It has been rcconiinended to the Baard Il)at they fon))ally adopi the Charity Governance Code for Sniall Charities. Tlie Board currently consists of twelve Trustee5, is responsible for making all decisions. Th¢ Board has 511b-commitie¢s lo oversee finance. prcnii5cs, governance and c()mpliaiice, data proteciion: health and safety, residents. personnel dnd the review of the ChaTIt)' Sclieiiie. I'he siib c()inniitt¢cs meet ai leasl quarterly with tl)e c.hairs reportiiig back to ihe main Board., all Ineetings beingj ivell atteiided. Related parties- in the furtherance of lis objects, the Charity conforin5 to the standards and methods of practice of the Alnishouse Association. (Menibership no. 121). AIM AND PURPOSE OF THF. CHARITY Nathaniel Waterhouse wa5 an early and very successful Halifax entrepTencur supplying the textil¢ trade. He was married but liad no cliildren aiid l¢ft his considerable eslale to cliarity lor il)e relief ol. poverty and the advancernent of religion and educalion in the Parish of Halifax. Tl)e Trustees of the C harity aTe responsible for carrying out the wishes of Nathaniel Waterhouse as described in his Will of I si July 1642 and siibsequ¢ntly varied bj. Acts of Parliaiiieni dated 1738. 1848 and 1960. The Trustee5 are iiivestigating ways in which the Charity niay be updaied ro n)eet the wi5he5 of Nathaniel Waierhouse in the 2 Isl century. OBJECTIVES AND ACTIVITIES The Act of Parlianienl 1960 shows that the Charity includes The Uniied Charities of Nathaniel Waterhouse, the Afternoon Lecturer's Charil), and the Waterhouse Educational Fund. The 1960 Act d¢fine5 the Trustees, obligalions. i¥liich incliide 11)¢ requiren)ent to apply the inconie of the Charity to the following objectives and activities.. The niaintenance. Lipkeep and insurance of all propertie5 including the alii)shousc5. The establishnieni of an extraordinary repair fund for the rebuildinLF of the almshouses. The proper managenient of the Charity. The provision of annual payments to nominated vicar5 in the parish and io th¢ C.OTporation. The payment of the Afteriioon Lecturer appoiiited by the Halifax miiisl¢r. Payments for the benefit of the POOT of tlie parish, including for education and for the eare of tlie old. sick or infimi. The investn)ent of the endowed funds lo produce an incoiiie. Since the rebuilding of the Almshouses in 1960. the main activiiy of the Trustees has become the ianagemenl of Ihe 24 di¥elliiigs and the pruvision of support to the r¢5idents. The accon)n)odalioii is provided at an affordablc level and financi&il a5SiStaiice is ai'ailable wh¢ie it can be justified.
UNITED CHARITIES OF NATHANIEL WATERHOUSE TRUSTEES, ANNUAL REPORT YEAR ENDED 29 FEBRUARY 2024 ORJECTIVES AND ACTIVITIES The Trustees recogi)ise the Christian intent, of their benefactor Natlianiel Waterl)OLise, and seek to reflect thai in a 215t ceiiiiiry context. The i)eeds of society have changed. the role of this Charity has responded to that change and, lo remain effective. is ivorking proactively to continue doing 50. The trustees havc taken advice from a leading practire of lawyers specialising in chariiy governance as to how to modcTnise the Cl)arily Sclieine ivhicli is a Private Aet of Parlianient. The advice is being considered but decisions have been delayed due to Covid and the rcsignatioii for health T¢asons of the Tr115t¢e who was leading the task. li is liowever noled that the one recon)n)¢ndatioii requires tli¢ rer01151itution of the endowed funds i¥hi¢li appear lo have migrated into general I'uiids. ACHIEVEMENTS AND PERFORMANCE The achievements and perforinance are described in revieivs shown below. Essentially the charity honies remain in deinand, and residellts express satisfaction. Income Irom weekly maintenance contribution5 5llPPOrts a budget which is in line with the Almshouse Association model. Res¢rve5 are reasonable but not al a level whicli w'ould enable rebuilding. Investii)eni income is satisfaclory and has supported the payment of donations ro organi5ations which support those in need. FINANCIAL REVIEW All trustees would like to express ih¢ir thanks and appciatIO1) to Roger Verity, who has stood dowii as both Truslee and Chair of Finanre, for his hard and diligent work over the past few years. Income fTom almshouse residents, weekly maintenance eontributions totalled £ 129.504, ali increase of IOO/o oveT the previous year. This reflect5 the continLiinLS ability of the charit), to attract and relain residents. This is ihe key source of income for the eharity, iieeded to siipporl our maiii activity of managing tlie 24 almsliouses and associated support io ihe rcsidents. Total income of the charity also increased by 9.7V/o ¢0 £ 160.831. helped by a grant of £ 2,918 together with higher rental incoine, inveslinent dividends and bank interest. Total a1rn51iouse ai)d governaiice costs increased by 11.4 /0 10 £ 140.951, reflecting inrreased costs in a nunibcr of areas ineluding, sigiiificantly. legTal costs. Also included is a sum of £ 9,581 represeniing donation5 Inade by the charity. incliidinL those to organisaiions for tlie relief ol. poverty and those in need, as iniended by the founder. The overall result is ihat the charity finished with a positive i)et incoii)e of £19,880. despite the higher costs. This r¢flected a small incrcase (4.10/0) on the previous year. The charitj. eiijoyed a much belter year ivith regTai'd to its investii)ents, eiidiiig the year wilh unrealised investmcnl gains of £ J9,805 conipared witli a loss of £ 11,507 the previous ye2r. The Triislees conlinue to Inonitor the perforii)ance of all Ii)iig terni investni¢nt5 which ren)ain invested in charily specific pooled mixed fLJiids.
UNITED CHARITIES OF NATHANJEL WATERHOUSE TRUSTEES, ANNUAL RFPORT ( YEAR ENDED 29 FEBRUARY 2024 FINANCIAL REVIEW fc•niin4edJ The sizeable investiiient gains coupled witli tl)e nei inronie surplus have resulted in an overall siirpliis of £ 59,68.5, incTcasii)g both restricted ai)d unresiricted reserves. The total fuiids carried form'ard iiow total £ 1.235,373. Tliis increase has further ii)Iproved the charity's financial resilienee in advaiice of a period of aniicipated higher spending requiren)ents to improve and n)aintain the key income generating premis¢s in good condiiioii. This is needed to attract new residcnts as iieeded and retaiii existing ones in a coiiifortable and safe living environment. The Trustee5 are able to plan ahead from a slrong cash flow posilion with a posilive balance of nei currenl assets aiiiounting to £ 131.254 at the year eiid. RESERVES POLICY The financial accounts have been drawn up in line ivith the recently updated Reserves policy docum¢nl. Further ivork will be undertaken as part of the continuing project to ¢onsider the moderni5ation of the Charity seh¢me objectives. RESIDENTS Af4D PERSONNEL The R and P group met on 4 occasions during this p¢riod and ran one application process for ne. residenis. Tlie 'WaTdens' job title was changied to'Schein¢ Manager, to retlecl thcir wider responsibilities. Einployiiiei)t coniracls for the Seheii)e Tnaiiagers were Iinally agTeed aiid sigincd. Tlie Scheine Managers atiend¢d all JneetinLTS. provided Iipdates and detailed reports. During this period 8 new Tesidents iiioved in. New residenls w¢re uiiiversally botli gi'ateful and happ), Ivitli their nei¥ ac¢on)Iiiodation and the support provided. A healthy Iisi tsf ¢xpiessions of ii)ler¢sl iegardinb future i'acaiicies exists. The refined appointment process, ineluding visits from Gcorge, Clerk, and John. Scheme Manager COI)tinued to lunction ivell. A newslerrer produced by Scheiiie Managers John and Catli focussing on events taking place and other neiv5 Items was distributed regiilarly. Fullowing tivo significant events the advice to Residenis .710 are users of a care alarm has been strengthened to ensure that iliey are alwavs ivorn or i¥ithin reach. A donation of £1250 was i)iade to the Halifax Miiiister as ivell as doiiations of £2000 each to the Chiirch of the Holy Nativity Mi.¥enden and Halifax Opportuni11¢5 Trust. We arc very grateful lo John and C arol Ba8sinder, retired Wardeiis, who have provided holiday cov¢r for Jol)n and Cath. The Scheme Managers mainidin a detailed log of oui af hours calls to ensure tlie appropriate time is taken off iii lieu. A series of s()cial events held in tlie Community Room at Waterhouse were much appreciated and included two visits fron) the HA TY youih choir. carols with BDI Brass. fish aiid chips and coffee momiiigs. I would like to bTiiig to 1£11 read¢r5 and Trustees notice the high standard of care and 5UPPOrt being prLivided by oiir Scheiiie Man2gers. Thanks In115t go to The Clerk and to meii)bers of the Residents and Persoi)n¢l C.oiiiniittee for all tl)eir hard work diiring tliis period.
UNITED CHARITIES OF NATHANIEL WATERHOUSE TRUSTEES, ANNUAL REPORT YEAR ENDED 29 FEBRUARY 2024 PREMISES The Subcomniitlee met on 4 occasions duriiig tlie year and, an addilional meeting with finaiice to diseuss Bankl)ouse Woods, and roofing requiren)ents, around the sit¢. l. A low carboii report thai had been comn)issioned was discussed aiid an investigation into solar panels uiidertaken. Tl)xnks to Rob Rosborough for leading this and obtaining quotations. It iY&8 decided ihat ihis would not be considered for Waterhous¢ at this stage. 2. An extra bedrooii) has been created within the Warden's House. 3. A revised specification for reroufing tlie Wardei)s Flouse was drawn up. quotations received, and an ingiriiciion to proceed in early Spring 2024 issucd. 4. Further irnproveinents hdve bcei) Inade to the EaTden inclliding the installation of raised bed5 for ve&7¢tables, whieh gav¢ a good harvest to rc5idei)ts. A grant M'as awarded for ihe installation 5. Further work was coiiipleted to improv¢ paving by the con)iiiuiiity rooin. 6. Routiiie ai)d eyclical repairs have been carried out iiicluding refreshing two t12ts for neiv residents. Bankhoiise wood5 off Dudwell Lane. Montlily in5P¢Ctions conliniie io be undertaken. Work has continued in the background with a view to the possiblc Sale of the woods in 202412025. PUBLIC BENEFIT The very ividely drai¥n aeiivilies of the origii)al Waterhouse Charity have tended io naryow over the years. The power to aivard financial assistance lo rcsidents of the Parish of Halilax reniains, and was last used in the award of assislance to residents of Mackintosh Homcs. a Cliarity link¢d to the United Charities of Nathaniel Waterhouse by common managen)enl. Re&idents at the almshouses are subsidised according lo IheiT circuiiistances aiid the cl)arity Paj's for communal lighting, water and sewage. Oiher donations lo relevant oigaiiisations ar¢ listed in the account5. VOLUNTEERS All the members of the Board of Trustees give their tillie voliintarily and receive no benefits froiii the Charity. The Charilies ivould dlso like to thank Richard Barrow and his ivife for running tlie bi-weekly Card Club. The Cliarities has also benefitted from, and is grateful for, tl)e assistance ol. volunteer work in the LTard¢n.
UNITED CHARITIES OF NATHANIEL WATERHOUSE TRUSTEES, ANNUAL REPORT ( YEAR ENDED 19 FF.BRUARY 2024 PRINCIPAL FUNDING SOURCES The priiicipal funding sourtes for tlie charity are from Inaintenance contribution5 received from the alnisl)ouses resident5 and inconie froin the origFinal endoivn)enls. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Truslecs of the Charity subinil their report and independently examined financial statements for the year endiiig 29 February 2024 and coiifinn they coinply wilh curr¢iit statutory requirciii¢nts. These financial slalemenis have been preparcd in accordance with Aecounling and Repurting by Charities.. Siatcinent of Recommeiided Practice applicable to charities preparing tlieir financial statements in accordance with thc Financial R¢porting Siandard applicable in the UK and Republic of Irelaiid IbRS102-. cffeclive l Jan 2019) as delail¢d in the 8ecoui)tiiig policies. The18w applicable lo charities in Eng.land and Wales r¢quires the Charity Trustees 10 prepar¢ f121ancial siale]nenls for each year which give a true and fair view of the slate of affairs of ihe ¢harity and of the incoming resources and application of resources, of the Charity for that period. In preparing Ih¢s¢ financial Sialements, the Trustees are required to.. sclcct suilable accountii)g poliei¢s and then apply Iliein consistently. observe the Ineihods and prii)ciples in thc appliLable Charities SORP; make judgements and accounting ¢sliinales ihat aTe reasonable and prudenl; stale whether applicable UK Accounlinb Standards h8v¢ beeli followed, subjccl lo any mai¢rial departures disclosed and explained li) the fii)ancial sl8leincnts' prepare the financial slaie]nent on the going concern basis unless it is inappropriat¢ lo presume that the charity will continue in business. The Trustees are responsible for ke¢ping adequate accouniing records that are suffici¢nt to show And explaiii the eharitie5' trai)saclions and disclose with reasonable accuracj. at any tiiiie the financial PQSltion of the Lharity and enable tl)an to ensure that the financial statenIS coinply with the Charities Act 2011, the applicable Charilics (Accounts and Reporisl Regulations, and the provisions of the Trust Deed. They ar¢ also responsible for safe&arding the ass¢ts ol the charity and hence for taking reasonable steps for the pr¢v¢Jilion and d¢t¢ction of fraud aiJd other irregyularitics. The trustees, annual report was approved on I l December 2024 and sigi)ed on behalf of tlie board of trustees by.. Lucy Armitage (Chair) Trustee
UNITED CHARITIES OF NATHANIEL WATERHOUSE INDEPENDENT EXAMIIYER'S REPORT YEAR ENDED 29 FEBRUARY 2024 I report to the Irusiecs on n)y exainination of the financial stateiiients of Uniied Charities of Nalhaiiiel Waterhouse ('the charity'l for ihe year ended 29 February 2024. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the charity you are responsible for the prepara(ion of the financial statements in accordance with the requiremen15 of the Chariiies Act 2011 {-rhe Aci'}. I report in respect of n)y examinalion of the charity's financial statements tarried oul under sectioii 14.5 of the 2011 Act and in carrying out my exainination I havc follo.ed all the applicable Directions gTiven by the Chariiy Commission undeT Section 145(5Mb) of ¢he Act. INDEPENDENT EXAMINER'S STATEMENT I have completed ii)y exan)ination. I confimi thai no iiiaterial malters have conie to my attention in connection ivith the examination giving me cause lo believe that in any material respect: accounting recoTds were noi kept in respect of the charity as required by section 130 of the the financial statements do nol accord with those records,. or the financial sla¢ements do not comply 14'ith the applicable requirements conceniing the fomi and conteni of accounts sei uul in the Chariiies (Accounts and Repurls) Regulations •008 other than any reqiiirement that the accoiints give a 'true and fair, vieiv wliich is Iiot a nialter considered as part of an ii)dcpeiideiit exainination. I have no coiicerns and l)ave come across no otheT Tnatters in conne¢tioii wiih the examitlation to which atle111ion 51iould be drawn li) thi5 report ii) order lo enable a proper uiideistaiiding of the accouiits to be reached. Andrea Kennedy BFP FCA FCCA ATT(Fellow) Indepcndciit Exaii)ii)er Equitable House 55 Pellon Lane Halifax West Yorkshire HXI 5SP I l December 2024
UNITED CHARITIES OF NATHANIEL WATERHOUSE ST ATEMENT OF FIIYANCIAL ACTIVITIES YEAR ENDED 29 FEBRUARY 2024 2024 Unr¢stricted Restricted Endowment funds fiinds funds 2023 Total funds Total funds Note Intome and endowments Donations and legacies Charilable activities Iiivesiment income Other incoime 2,918 2,918 129.$04 28,259 150 3,615 117,639 25.419 129..504 28.259 150 Total inco]ne 157,913 2,918 160.831 146,673 Expenditure Expenditure on raising fui)ds= Investinent Inanagein¢nl costs Expenditure on cliaritable activities 775 775 730 9,10 136,244 3.932 140,176 125,820 Total expenditure 137.019 3,932 140,951 126,5$0 Nct losses on iiivestinents IJ 1,020 P4el income 20,894 {1,014) 19,880 19.103 Other recognised gains and losses Nct unrealised gains 011 investment assets 28,953 10.852 39,805 (11,507) Net movem¢nt in funds 49.847 9,838 7,596 ReconciliatiuD of funds Total tunds brouglii forward Total funds earried fOard 696.168 186,852 292,668 1,175,688 1.168.092 746,015 196,690 292.668 1,23S,373 1,175.688 The stateinent of financial activities includes all gains and losses recognised iii the year. All in¢oiMe and expeiiditure derive froin continuing aciivili¢8. The notes on pages I I tu 24 form part of these financial statements.
UNITED CHARITIES OF NATHANIEL WATERHOUSE STATEMENT OF FINANCIAL POSITION 29 FEBRUARY 2024 2024 2023 Note FIXED ASSETS Tangible fixed assets Investments 17 18 292,668 811,451 292,668 771,647 I,la4,119 1,064,315 CURRENT ASSETS Debtors Cash at bank and iii hand 19 9,482 162,593 5,093 147,551 172.075 152,644 CREDITORS: amounts falling due within one year Trade creditors Other creditors including taxation and social seelirily Accruals and deferred incoTne 5,641 20 304 40,015 536 35.094 40,821 41,271 NET CURRENT ASSETS 131,254 111.373 TOTAL ASSETS LESS CURRENT LIABILITIES 1.235,373 1,175.688 NET ASSETS 1,235,373 1.175,688 FUNDS OF THE CHARITY Eiidoi¥nieiil fiillds Restricted fuiid5 Unrestricted funds 292,668 196,690 746,U15 292,668 186,852 696,168 Total charit), funds 22 1,235,373 1,175.688 Th¢s¢ financial slateirents were approved by ihe board of trustees and authorised for issue on I I Deccinber 2024. and are signed on b¢half of the board by.. F Mike Berry Triislee Luey Armilage (Chair) Trustee The notes on pages 1 I to 24 form part of these financial stateMet5. io
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 29 FEBRUARY 2024 GENERAL INFORMATION The chaTity Is a piiblic benefit ei)tity and a registered charily zn Eiiglaiid and Wales wid 15 unincorporated. Tlie address ol- the principal office is Tl)e Warden's IIou5c. Waterhouse 14oines, H2rrison Road, Halifax. West Yorkshire. HX I ?AZ. STATEMENT OF COMPLIANCE These financial stateinents have been prepared in compliance will) FRS 102. 'The Financial Rcportiiig Standard applicable in the IIK and tl)e Republic of Ireland,. Ihe Statement of Recommended Practice applicable to charities preparing tlieir aecoiints in accordance witli Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {fRS 102) (Charilies SORP (FRS 102)) and the Charitie5 Aci 2011. ACCOUNTING POLICIES Basis of preparation The financial staleinenls have been prepared on the Iiistorical cost basis, as niodified by the revaluation of certain Iinancial assets and liabilities and invesimciit properties measured at fair value through income or expenditure. The fiiiancial stalemeiils are prepaTed iii sterliiig. which is the fuiictional currei)cy of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sourfe5 of estimation llncertainty Thc preparation of tli¢ fiiiancial staiemei)ts requires manaLTement to iiiake judgen)ents, estiiiiaies and assumplioiis that affect tF]e ainouiils reported. These estiinates aiid judgement.% aT¢ Colltiniially reviewed and are based on experienc¢ aiid otlier factors. includiiig expectations of future events that are believed to be reasonabl¢ under the cireun)stances. l-here are not considered to be any judgements or accounting estimaies or assuinptions that hav¢ a significant iinpact on ihe fiiiancial stateii)¢n15 Fund accountlng Unrestricted funds are available for use at the discretion of rhe tl'ustees to further any of the charity's purposes. DesiLFiiated fuiids are Linrestricted funds earn)ark¢d by the trusteeg for particular future project oi. cominilii)ent. Restricted fiiiids are subjected io reslTlCtioiis 011 their expenditure declared by the donor or through the tenms of aii appeal. and fall iiito one of tivo sub-elass¢%'. restricted incon)e lunds or ei)dowment fuiids.
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS I YEAR ENDED 29 FEBRUARY 2024 ACCOUNTING POLICIES Incoming resourees All incoiiie is incliidcd in the sta(eEn¢iit of financial activities when entiil¢inent has passed to the charity. it is probable that the economic benefits a550ciated with the transaction ivill flow lo the charity and ihe amounl can be reliably n)easured. The folloiving specific policies aT¢ applied to particular ¢aiegories of income= income from donalitsns or grants is recognised when th¢re is evidence of entitlement to the gift, receipl is probable and its amount can be measured rcliably. legacy incoJHe is recognised when receipt is probable and enliilcment is established. Resources expended Expendiiure 15 recognised on an accruals basis as a liability is incurred. Expenditure includes VAT which c2nnot be recovered, and is classified under headings of the statenieni of financial activities to which it Telates.. expenditure on raising funds includes tlie costs of all fui)draising aciivities, events. non-charitable trading activitl¢b, and tlie sale of donated goods. expenditiire c)n charitablc activities include5 all cosls incurred by a chaTlty in underiaking activiti¢s tl)at fiirtl)er lis chai'itable airns for the bei)efit ofits bci)eficiaries. includiiig those support COSIS aiid costs relating lo the &)overi)ance of the charity apportioiied to charilablc activilies. All costs are allocated io expenditure caiegories reflecting the use of the resource. Direct cosis atti'ibutable lo a sii)gle activity al'e allocated d2rectly to that activity. Sliared costs are Apportioned betiveen ihe activities they ¢onlribute to on a Tcasoiiable, jusriliable and consislenl basis. Tangible assets Tangible assets are initially r¢¢orded at cost, and subsequently stated at cost less any impairinent losses. Investnjents Listed investments arc Jneasured at fair value iviih ehang¢s in fair value beiiig recognised in profit or Ios5. 12
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 29 FF.BRUARY 2024 ACCOUNTING POLICJES IL'OttllttJie¢l) Investment PToperty Inveslment propert), is initially recorded at cost. which in¢ludes purchase pri¢e and an) directly anributable expenditure. Investment property is revalued to its fair vali1¢ at each Teporting date and any chang¢s in fair value are recognised in profjl vr loss. Financial instrllnieDts The company only has financial assets and liiiaiicial liabililie8 of a kind thal qualify as basic financial instruments. Basic fii)ancial instruments are iniliallv recognised at (r8iisaction value and subsequently iiieasiired at their seiileniei)t valiie wilh Ihc exception of bank loans ivhich aTe subsequently measur¢d at ainortised e()5t using the eff¢ctive interest meihod. Defined contribution plans Contributions to defined coi)tribution plan5 are recognised as an expense in tli¢ period in whicl) the Telal¢d service is provided. Prepaid Ll)ntributions are recogi)ised as an ass¢1 to the extent that Ihe prcpaynient ivill lead to a reduction in f'uture payments or a cash refund. DONATIONS AND LEGACIF.S lJni'estricted Reslricled Total funds funds fund5 2024 DONATIONS Doiiations GIUNTS Granis receivable 2.918 2,918 2,918 2,918 Unrestricted Restricted funds funds Total fuiids 2023 DONATIONS Donaiions 165 165 GRANTS Graiils receivable 3,4.50 165 3.450 3.615 13
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMF.NTS (eoltllhwerfj YEAR ENDED 29 FEBRUARY 2024 CHARITABLE ACTIVITIES Unrestricted Total fuDds Ui)restricted Total funds 2024 funds 2023 Almshouse5 residents, contributions 129,504 129,504 117,639 117,639 INVESTMEIYT INCOME Ui)resiricied Restricted Total funds funds fiii)ds 2024 Rent received Incoii)e froin listed investinents Bank interest receivable 4,942 18,796 4,521 4,942 18,796 28,259 28,259 Unrestricted Restricted Total futids fund5 funds 2023 Rent received Intomc froin listed iiivestmeiits Bank interesl re¢¢ivable 5,530 14,385 1,051 5,530 18,838 .051 4.453 20,966 4,453 25,419 OTHER INCOME Unrestricted Total funds Unrestricted Total funds funds 2024 fiiiids 2023 Other income 150 150 INVESTMENT MANAGEMETrIT COSTS Unrestricted Total funds Unrestricted Total fund% funds 2024 funds 2023 Insurance 775 775 730 730 14
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 29 FEBRUARY 2024 EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Unresiricted Restricted Tot21 lunds fundg funds 2024 Almshoiises co$15 Donations Support costs 122,552 8,567 5,125 2,918 1,014 125,470 9,581 5,125 136,244 3,932 140,176 Unrestricted Restricted Total funds fuiids fui)d8 2023 Almshouscs costs Donations Support costs 103,905 9.613 9,166 3.136 107,041 9,613 9.166 122,684 3.136 125,820 10. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Activities underlaken directly Total funds Total fund 2024 2023 Siipporl costs Alnishouses costs Donations Govemance costs 125,470 9,581 125,470 9,.$81 107.041 9,613 9,166 5,125 135,051 5.125 140,176 125,820
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS {fQft1ltte YF.AR ENDED 29 FEBRUARY 2024 11. AI¥ALYSIS OF ALMSHOUSES COSTS Total 2024 Total 2023 Scheme tnanager's salaries and national insurance Scheme iiianager's pension costs Clerks, salary and iiational iiisurante Clerks. expenses Light, heat, rates and water Routine mainlciiai)ce Insurance Gardening and cleaning Legal and professional Telephone and other office costs Rc5ideiits' Ivelfare Advertisin Seininars and tTaining 28,131 2,640 9,159 256 10.934 27,302 2,860 7,739 292 9,715 8,453 2,952 7.248 4.970 2,303 2.099 (338) 1.434 3,433 7.069 17,820 3,000 1,278 1.142 91,444 77,029 C}'clical maiiiienance Iinproveiiienls io Ihc estate Restricted Cxtraordinary repairs 20,IJ6 10,895 19,848 9,464 700 125,470 107.041 12. ANALYSIS OF DONATIONS 2024 2023 GRANTS TO INSTITUTIONS Aliiishouse Association Halifax Opportuiiiiies Trust Vicars Lecturei. Mixenden Church Halifax Minster EdLication project Cliristians l ooeil)er HATY concert Halifax Cii'ic Tru51 St Augugtii)es Overgate Jolin Maekintosh 23 5,000 (181) 72 1,000 1.000 1,000 loo 125 125 2,000 300 5,000 3,514 Total grants 9,581 9.613 16
UNJTED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS I YEAR ENDED 29 FEBRUARY 2024 ANALYSIS OF GOVERNANCE COSTS 2024 2023 Scheiiie iiianaLJer'$ Salaries and national insurance Clerks, salary, national insiiranee Clerk's expeiises Bank chargY¢s Insiirance Ind¢pendent examiners report Legal aJ)d professional fee5 1,480 2,290 230 60 1.437 1,934 291 80 380 845 4,199 900 165 5,125 9,166 13. NET LOSSES ON INVESTMF.NTS UnTestricted Total funds Unrestricted Total funds fuiids 2024 funds 2023 Gainslllosses) on listed invesiments (1,020) (1,020) 14. INDEPENDENT EXAMINATION FEES 2024 2023 Fces payable to the iiidcpcndent examiner lor.. Indepeiidei)t examinatioii of the financial statements Other fiiiancial services 900 2,640 845 2,011 3,540 17
UNITED CHARITIES OF NATHANIEL WATERHOUSE r40TES TO THE FINANCIAL STATEMENTS (et)ftllfvtstd) YEAR ENDED 29 FEBRUARY 2024 15. STAFF COSTS The total staff costs and employee benefits for the reporting period are analysed as folloi¥s.' 2024 2023 Wages and salaries Social securily CQSts Einployer contributions to pension plan5 Other employee benefits 29,611 2,290 2,640 28.739 1.935 2,860 7,739 43,700 41.273 2024 2023 Scheme manager's salaries and natioiial insuranc¢ C lerks. salary. national insuT8nce and contractor costs En)ployer contribution to peiision plans 29,6]] 11,449 2,640 28,739 9,674 2,860 43,700 41,273 The average head count of employees during the )iear was 3 (2023: 3). No eiiiployee received eillployee benefits ol'moTe than £60,000 during ilie year (2023= Nil). 16. TRUSTEE REMUNERATION AND EXPENSES No reniLincration or other benefit5 froin employmenl with the charity or a related entity were received by the trustees. No tTUStee expenscs have been incurred. 17. TANCIBLE FIXED ASSETS Freehold PToperty Cost At l Mareb 2023 and 29 February 2024 Deprtciation At l M¥rch 2023 and 29 February 2024 Carr)'ing amount At 29 February 2024 At 28 February 2023 292,668 292,668 292.668 18
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THF, FINANCIAL STATEMENTS {coniiMuetl) YEAR FNDED 29 FEBRUARY 2024 18. INVESTMF.NTS Listed investiiients Ii)vcstment propeTtie5 Total Cost or valuation Ai l March 2023 Additions FaiT value movem¢iit5 718,147 53,500 771,647 39.804 39,804 At 29 February 2024 Impairment At l M#rch 2023 and 29 February 2024 Carrying amount Al 29 February 2024 At 28 February 2023 757.951 53.500 811,451 757,951 53,500 811,4$1 718.147 53,500 771,647 All iiiveslinents showii above are held gt valuatlOl1. Investment properties Th¢ freehold propeTly h¢ld for inveslii)ent comprises Bank Bottoni Woods. Salterhcbble, 8 Garages at Waterhoiise Homes and freehold of 6 & 8 Crown Stre¢l. The Trustees are of the opinion that the figure of £53,500 fairly reflecis ihe niarket value. 19
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 29 FEBRUARY 1024 18. INVESTMENTS icoiJlivNed) Financial a55et5 held at fair value Fair value Fair value Cost 2024 Cost 2023 CCLA COIF Ethical Inv¢stnient Fund (49.629 Income unit5) CC.LA C.OIF Ethical Iiivestment FLJnd 119,054 Incoine units} Nei¥rlon Gr0h & Inc()rne fund for Charities {207.280 nconie uiiits} Sarasin Alpl)a CIF IOT r.i)dowmenis {145,370 Incoiiie units) Sarasin Alpha CIF for Endoiviiients {21.949 InL()iiic units) 82,113 82,113 137.313 50,000 60,373 50,000 56,775 154.192 J43,008 154,192 332.478 115,000 175.607 115.000 165,418 26,514 25.000 26.163 426J05 757,951 426,305 718.147 The invested funds are Tevalued ai ihe balance Sheet dale io the niid daily value published on the providers w¢b51te. Although tlie Triistees have not allocated specilic investnients io cover the Extraordinary, Rcpair Fund IERF) ai)iouniingF to £186,85212022.. £184.8tk5). tliey are aware that this an)ount 15 allocated to a restricted flind and 18 not available for gTcncral purposes. 19. DEBTORS 2024 2023 Prepaymciit5 and accrued incoiMe Otlicr debtors 4,432 5,050 5,093 9,482 5,093 20
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS Ii'olirtnurdj YEAR ENDED 29 FF.BRUARY 2024 20. OTHER CREDITORS INCLUDING TAXATION AND SOCIAL SECURITY FALLING DUE WITHIN ONE YEAR 2024 2023 Social security and oiher taxes J04 536 21. PKNSIONS AND OTHF.R POST RETIREMENT BENEFITS Defined Contribution plans The ainount recognised in inconie or expenditure as an expensc in relation to defined coiitriblltion plans was £2,640 {2023.. £? 860). 22. ANALYSIS OF CHARITABLE FUNDS Unrestricted funds At Gains and 29 Febru#ry 10s5¢S 2024 Al l Mareh 2023 In¢oine Expendiiurc Transfers General tunds Cyclical Inaiiitenance flind 380,704 157,913 1114.689) (37,680) 28,953 415,201 ICMF} Exti'aordinary repair fund (EFD- D) 119.679 122,330) 22.330 119,679 195,785 15.350 211.135 696,168 157.913 1137.019> 28,953 746.015 At Gains and 28 Febrllary. 105ses 2023 Al l March 2022 Incorne ExpendiluT¢ Transfers General lui)ds Cyclical ii)aintcnance fund 388,880 138.770 {103.558) 133.581 } (9,807) 380.704 (CMF) 119.679 (19,856) 19,856 119,679 Extraordinary repair fund IEFD- DI 182,060 13.725 195,785 690,619 138,770 {123,414) 19,807) 696,168 21
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS irtrlrli ell) YEAR ENDED 29 FF.BRUARY 2024 22. ANALYSIS OF CHARITABLE FUNDS Icottiihuedj The Cyclical Maii)teiunce Fund, designated fund. has beeii increased by Inore than Ilie iiiiiiinium aniount recoini?iended by Ihc Aln)sliouse Association Speeinien Budget for dwelling5 outside Greater l.ondoi) and older than 20 >'ears of £802 per unli for 24 flat5 and the wardeii's house. The Extraordinary Repair Fund, restricted fund, has been increased by IOre than the minimum amount rttnnimended by thc Almshouse A.4sociation Specim¢n Budget for di¥'ellings Outside Greater London aiid older than 20 )'ears of £590 per unit for 24 flats and the warden's house. Tlie Trustees, poliry is to keep ilie properties lip to date, and they are Currently reviewing the optiniiiin ainoiint that should be rescrved for exiraordinaTy repairs. Restricted funds At Gains and 29 February losses 2024 Ai l Marcli 2023 Income Expenditure Transfers Extraordinary repair fuiid IERF) Comrnunity roundatioii for Calderdale 185,838 10,852 196,690 1,014 2.918 (3.932) {3.932) 186,852 2,918 10.852 196.69 At Gains and 28 February losse5 202i Ai l Marcli 2022 Incojiie Expenditure Transf¢T5 Extraordinary repair fiind IFRF} Commuiiity oundalion lor Caldcrdale 184,805 4.453 {7001 {2,720) 185,838 3,450 {2.436) 1,014 184,805 7,903 (3.136) (2,720) 186,852 22
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS f¢L>ftiiThut¢l) YEAR ENDED 29 FEBRUARY 2024 22. ANALYSIS OF CHARITABLE FUNDS The Cyclical Maiiitei)ance fund, designated fuiid, has been increased by Inore than the miniillu aniounl reconiijiended by th¢ Alllishouse Asso¢iation Speciiiien BudgT¢I lor di¥ellings outside Great¢r London and older than 20 years of £802 per unit for 24 flats and the warden's house. The Extraordinary Repair Fund, restricted fund. has been increased by n)ore than the mininiuni amount T¢coiiimeiided by the Aliiisl)ouse Association Specimen Budget for d'ellIngS outside Gred¢¢r London and older than 20 }'ea¥s of £590 per unit for 24 flals and the warden's hoLlSe. Tlie Triistees. policy 15 to keep the properties lip to dale, and they are currently revicwing the opliiiiiiin amoLinl tliat should be res¢rved for extraordinar). repairs. Intorning resources comprises Weekly Mainlenance Contributions. interest and dividends (allocated betiveen resiri¢tcd & unrestricted luiids). The Community Foundation for Cald¢rdale fund is provided to assist with costs towards reducing ilie carbon footprint of the charily. Endowment funds At Gains and 29 Febru¥ry losses 2024 At l March 2023 Income Expenditure TransfeTS Pennanent Endowment Fund 292,668 292,668 At Gains and 28 FebTuary' losses 2023 l March 21122 1Cole Expenditllre Transfers l)ernianenl Endowment Fund 292,668 292,668 23
UNITED CHARITIES OF NATHANIEL WATERHOUSE NOTES TO THE FINANCIAL STATEMENTS (eohtift..rfJ YEAR ENDED 29 FFBRUARY 2024 23. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted Endowmenl Total funds funds funds 2024 Tangible fixed assets Inve%linents Currcnt assets Creditors less ihan l year Net as5etS 292,668 292,668 811,481 172,075 (40,821) 614,761 172,075 (40,821) 746.015 196,690 196.690 292.668 1,235,373 lJiirestricted Restricted Eiidowment Total funds tunds rui)ds funds 2023 Taiigible fixed assets Inveslmertts Current assets Crediiors less than l yeaT Net assets 292.668 292,668 771.647 1 $2,644 (41,271) 1,175,688 $84,795 152,644 {41,271) 186,852 696,168 186.852 292,668 24. RELATED PARTIES Diiring the y¢ar £5,000 d()nation was madc to John Mackinlosh Memorial Hon)¢s a charity undeT the c()IMmoii control of the trustees. 24