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 (eoliiihue￿j
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 app￿ciatIO1) 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 stat￿￿enIS 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 fO￿ard
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 stateMe￿t5.
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 {fQft1ltt￿e
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 Gr0￿h &
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 I￿Ore 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
1￿Col￿e
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