Chtrlty R•gl•tratlon No. 265778 (England and Wal•¥l WATERSIDE COMMUNITY FUND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
WATERSIDE COMMUNITY FUND coKrENTS Pag• Legal admini5tratiNp Inlom8tion D8s(#lpkn of tho arKI its wJonls•llonal SIn¢r0 Statsm•rt of trust8, r8sponsiblit*s p)11¢ benefjl InYe51ment magar3, rnp ITrJèpWQn¢ awlitc¢s report StatenTht of flnandal a¥118& 9-10 Balance ¥he¢t 11 Notes fo the )Inancad 5tatsrts 12-21
WATERSIDE COMIAUNrrY FUND LEGAL AND ADMINISTRATNE INFORMATION Tntst••8 are èpwnted to ho offte for thTr18rn7 in tn¢k•ts: an Afvgy Sean Cuvan 14 Yea from M8y 2023) 14 ygars from May 2023) 14 Yea fr(¥n May 2023) ChrfslDph¢r Harrlson <4 ygars from May 2023} Chrlstlna Jamos (S y¥ws from October 2022) Suzanne Elkabèth Kèlbtt (S yews from June 20231 Dan Poole (S yew5 from $6ptsmb•r 2021) Judlth SaKby- M¢e ChfAr IReappcinted 24th Juty 20241 {4 yews from July 20241 JIN Tomln- Chalr {Reaprted 24th July 2024) (5 yeaE5 from July 20241 ¢th to th• TPtchr trIty number ngland and Wal••) 255778 7 Dr{M)nnd Court ProsPOCt Place Hampshke S045 6HD Bank•r HS3C PIC 55 Abovg Bar Streot ScAAhampton 8014 7DZ In¥•tn*nt Mamger Rathbones Investmant Mayrrt Limitad Fiennes HoLe 32 SoLbthgat• Str••t Wincheslor Harnpshire S023 9EH h2èts Audlt ServhxB Athenla Hou88 114 Andov8¥ Road Wn¢h86tgr Hompsh 8023 7BS
WATERSIDE COMMUNif( FUND DESCRIPTION OF THE CHARrrY AND ITS ORGANISATIONAL 8TRU¢TURE FOR THE YEAR ENDED 31 WIRCH 2024 Waterside Cofflmunlty Fund was fom8d as a result ol &n aw8rd of 4nd in 1862 ari$g from th• kKlosure Acts. Th8 igin81 pur ol th8 Fund was to provlde 'Alolments ft¢ Ihg LaUrIn9 Poor of the P4ri¥h of Dlbdon. was m8nAgad by th& Over8eerB of Ihg P¢)LY and the Chwch Wardens of the Patsh. In 1894 Ihese Tespon$lb116ks wwe transfeffed to Dlbdon Paiish CrMJnrAI {L8lèr rèvnwnod Hythg Dibden Parish cr1) eT th8 proviBk)ns of tho Locgl Government Act d that year. 1994 tho Fd sdd mcffjt of Its It and r•celvwl a pItal sum in oxcass of £6.125 mllllon. P4Jministr¥tth of the Fund Is n(pw vasted In rmne TN8lees ¢mnlly a Clerk and Bupport $Wfarn •mpW to assSst ts Tnth6s. In July 1995 th¢ Ch4rfty Commission approved a new s¢heme as follcA¥s'. ublgct to payYn•ntof the eXnseS of th¥ Charity the Tte8S shall appty th• Inetyn• oflhe Chwity kn rellèvlng elther g¢neralty or indmdualty petscffi$ resh1ent In th8 Parth of Hythe and DIbd who are in c4Jndrflons of n¢ed. hw¢l$Np or dlstress by m8klTrJ granls of money cw lI¥j orpAWng f(Y itom5, $opAces (y(alItieS ¢akul•t•d kn rad tho no0d, hordship or distress of su¢h p•rnons,' If Iho nN>t be appllod as kn8sald, Tnth shal aFvty th• sJm• for any charitat4e puwes for tho benefft of th? inh•.14nts of thg said Parish as tho Twsta•s thbnk fit and rfand In ao far as th? Income eannot be apfjed for any such choritablfr purpo686 the TN&t shall apply th& samo 5)r ¥imilar PU Ln the Parlshes of Marchwood and F8. rwne of th8 Fund wa6 changod frcwn Dbdgn Allolmerts Dlbd•n Allolmgnts FurKI in aCc(d•n w6th special rtrsoluuon of tho trustses passed on 27 January 2010. Tho ofthe Fund w&£ ehw8d 09aln from DlbJeTr Allotmants Fund to wat8 Ccmmunlty Fund In ac(x)Tdan¢¢ wlth 8 spdal resolth of th& Trustoe8 paswl on 22 Juno 2022. 6flgctiv• as at 1 Octobor 20rd. The Tntst¢•s may ply for such Items. Bervicas or facillias by way of th)natiorrJ or subs¢rWrys b institulKJns OT ¢Xganlsation$ whith provido or undertakè h) lo pmYid• such rtems. serv•s ¢flItI85 for sh perscffi. Th8 owns allotment knd of approxlmatoly 0.88 a¢xe at Claypitp Lang, Dibd•n whlch until 2003 was mf4)•g•d on behaw of thè Charity by Hylhg and Dibden Pl&h Countal. was valwl ty The Valualon Offi¢• In Febwary 2003 at £8,000. (Thls flgwe is Ml IndUd In tha ffflAndal statsm•nts}. The bcty of Trusle48 to compriso at 8st 9 eompetsnt persons, In¢dIrj 5 rMinated and 4 ctrcptèd Trust88s. or lh& nomlnatgd Trustees. 3 Are to be appolnl8d by and Dibden P•rSsh Council. 1 by Marchwcryj Parish Coundl and I by FatsY pa[h Counul. The Twstees ar• r&sponsibie for Nmlng the Fund 4nd full Trustse& meetings erè held monthly. In addilion. there Bre fyvo seForat• subcommitteBS of I Trustsos, dealtrw r8s•lvoty vlth ffinan¢e and pty. These subcommittees m88t as wulTed. Trustees are introduced to tm 8t8ff; gN8n 8 tJr oftho 0ffl¢9', and provklwl wlh th• Fund's Op?r•lbon$ M•w•l and Tr Good Trustsos Guide.. They 4r¥ glv•n access to Truste8 Informalltyl) and {Id•1)es. as wdl as trdnlThJ In PedUr•s at me•tiry,' h•ndling Ftyxslble confiid of thr•st sity•li?ns end pm¢kne8 and safoguards for to apPlInIS. Tho Trust••s have delegated reswslbllty for th• i¥Ne8tments lo InV6stml monaggrs Ihoir ropoll ts sot t on pagè S. Tho Invo$lmnt managoTr are required to ochbve th9 MlmuM ncc4n• g)n8iSt8nt kxwJ t•rm growth of1 ¢apit81 valu8 of th8 peanI •nduwm•nt fund by at least Inftallon. B8cause the Fund does not wty on fvndralslng for Its inL¥)m8. a ryKI res•N•s poliw is rnt corfydfjrad tr) bg a prknrty. How8ver, Ihe aim of the Twstso$ Is lo ke•p at It 3 rTr)nths' runnlng costs in hand to cover p06s1bl4 varht¥)ns o IOme fmm thg Inv•stmont pJthfio. Grants we madè by lh¥ TNsle•$ n a(xordanee thè 1995 s¢hgm• set cljt above subject to wallable fund5 ?d tIc4d future In1M. Grwbts ar• mad• lo txh irrflividuais and roanlsatkms and dotails are sel In notss 7 rd 8 to tho Iln•rKifjl sl•t¢ments. The Charity commisOn rnqulrns all l•rg•r CharilTestrJ rnwton the rf$ks to wlwch they are exposed. A o)mpr•h8nsi Yev of the a¢tlv6los of tM Fund has 1heTrfe boen UTrderf8k whlch Clduded that theft of woyrty, fraud and ¢p¢rational Integrlly are the main Fthnll•l rfsks to whith the Fund may bè exposed. The Trustees will eonttrwje k¢ sook to mitNJate tho5• rfsk$ by a programmè of Sntem&l and fjxtwnal audl rewlng revbw aThl InBwan(*.
WATERSIDE COMMUNITY FUND STATEMEKf OF TRUSTEEV RESPONSIBILrriES AND PUBLIC BENEFrr FOR THE YEAR ENDED 31 AIARCH 2024 STATEMENT OF TRUSTEES, RE8POMSI8IUTES The truBtees are respons18 for prepwirvJ Ihe Tw$tee¥ A01 Report and the fin8mckg1 slatwnents in e0ance wNh 8p[AkblaW and UnM8d Kingdom Actnting standats (Un Kingdom Gon¢rally Accepted e4]Unt¥ Practlcel. The law appll¢abk to ¢ariUes In Engla1 requlres the tDJstee5 ts) prepare financial statsmonts for •xh financid year vhl¢h gfve a tru4 and fview ot the Stale of affalfs of the charty of Sts net Thw)vemw ol rwJource8 forthat peri£#1. In 5warir#J these financial statements. the trustees requirsd to.. al select sultsblè aeeounltng pdSeiès and tsn 8PPty cgnslstsnfjy, bl observo tho rnhOdS arKI principles in the chwilieB SORP 2019 IFRS102),' cl rrnkejudgements and estimates that ar8 reasor•bbg and tKwl8nt d) ¥%tth¢r 8ppll¢ablo a¢¢¥)LtIrVJ standards hav• betn f¢41thvod', •) pr•pore th• flnan¢i•l 5t•loments on th• Oxbcem basis il IB inapprowiats to presume fh•t tho will continue in OFwaOon. The trustees are responsibl• for kwirvJ pyrper aecc4mting r8c%Kts [Ch rfis¢lose wlth reasonable aCracY at any tho Ilnon¢i81 posilfjon of the ¢h8rfjty and enable them tr• ensu that the flnBnckl statements CA)mply wlth Ih8 rnquireThnts ofthe Chaities Act 2011 and th8 pro¥islon Tnkst d88d. They we also reSponsIb for safwwdk assetsofthe charlty and knrtsklng re8son8t4e steps forlhè pmention and delectFon offraud WKI ¢lhorlThegutarthe8. PUBUC BENEFIT Und&r the tem$ of th& sdwne q)proved by t Chaiity CornThK551on In July 1995, as set out on 2. the Fund alms h) Tele conditions of need. hordshp al distress and to SupF¥t oth8r char?tablfy in th8 parishes of Hythg and Dlbden. MarCh%0d end Fthey. This aim is trtlieved by makin9 grants to Indidual$ an¢1 to relevant kt81 drit d othar organlsatlons. 4)plleaticffls aro kwlted Imm such indwlduab and organlsatlons eac 18 $ldered by th• Tw5tees on 115 mwits. Fancial Obj8cfves for th8 y8ar ar8 set by tha praparalon of an NnUal Budget and parknnanco •g4in5t IhBs• objeebv•s d•tsmiin8d by rnnthly conN)4rlxn of •c11 ¥)com¢ and oxpsndlr8 to the budgTrt. A wmmary of grants ¥pwov¥d in the year is given in notes 7 and 8 to Ihe finawal statements and thls Ineludes the nèmes ol all orn65&tiOnS to wtrieh grants have been made. In addition, the Truste8s' ¥yrt on page 4 give5 furth8r Infcthiation brt grnnts m•dg dung the yew. As 9red by saction 4 of the CharN6es 2011. thè Tntstees h8ve con81dered the guidance publish•d by th• Chaiity Commlsslon In r8sp8et of wblle b8nèfit. TW Ih8t the Fund's Olm. a$ $¢t OLrt Bbove. fals vAthin the dofinltth of th•iitabke Pu5 sectm 2 of the ACL Alihough the Fund's activitiBs aro restrt under the July 1995 scheme lo the parthes set rmjt a)¥, no rnslricah]n$ fjre appl within whth would exSe Indlvlduolg frLkn the opporbjth to benefft. Truste88 Ibtsnd to protect the Endowmènt F)d to that It rètsins It8 value in real tamis. With th1$ eth11. thp trustees wish to opuwdso investment irwme aiising from the Inyostmfjnl als. and to minlmise overhèads. ¢)rdèr tr) eTrsu¥e that the best of the Fd for those in need will conlinue to be made for I fenseoaleflrtWo.
WATERSIDE COPIMUNITY FUND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 It has been another busy yearfor Watersid• CommnitY Fund. l)Jr imiestmpnt inccthtr. managed by Ratht4mes GT plc, S¥•d a jht imprOerrt on 2023 Iwel vthieh wa6 pleaslng. and our Itwestrngnt portfollo saw slghl gr to lust ovw £10.S8m. As det8i18d in the Investment Report, whll? tho outlwk has iryyrove(I, it ¢ontinu•s to b8 ¢halbnging market. Crity rnmains 11-pOs0ned hrywever wlh Suffi0nt eash deposlts to ojntlnue hle¥ld our 0.•ctiVti of making subslanl81 gr&nts to Indivlduals and OTganls8tions in thè thme paMshes ¢ovgred by the charity. whllst m8kntslnlng o raserve polw of keeplYvJ suffldenl fund$ to cover 3 months admIStraIkI, inv8slm8nts f885 audrt CQ5ts. Althugh inflation h85 9)ned to trtyJ durng 2024, lh• Ocxmomic oullook sh(MB Imrtad prAenti•l for inwrovèmènt in the fiJtwe. Duriru thg Yr, th• Trustees have focused on restorm th¢ v•lu8 of the portfolio In real terms overtho Icfi99rtomi and adDPted a strlew ollaklng afixod rwitNy drawdown amounl leavlng any swpl inccffie to be rdnv•sted. Grants to ory8nW)ns totall6d ovw £80.OC#) duthig tho ywr, &gnificant thvards In¢•d £31,000 lo Famili•s Matt•r ovldlng supp)rt to parents of chlldr•n wth 8ddibonal needs and gave ojntinued support to a school pro11 called Trleads Up., whore Solenl Mind have been CaFrying ••rfy Intèrv•ntion work over a multi-year with all prfmwy $chools to help combat anxwty. eM¢)150n dIulbe$ and provKle welln9 SUPkX)rt. Th8 Charity again conllnutd k) nd The Handy Trust &rKI F• Parish Council foT thelr youth wrrk Ihroughtxrt the Waterslde area. Smallor grants wor¢ made to a range of small 1X1$8110Ths oidudlng Tho HOneyt Chiidren'B Chaiity, Solont Roseu• and a numt of indmduql Br proA•cts. The Cost of L6wng cris1$ and th• high 1•¥8ls of UK in118lion duriTrJ the prlod, partiwlarly substsnllol Increases In th& costs of Ic#xl, housing and ulllrfles have hed a slgifficant impact on the lThJMduals r•ly on thg Charitys 6UPWt. Th• ong)ing inVasn of Uknine by Russla has s8on a fvrth8r Increaso In the numb•r of Ukrnknian refvgees tsmwary refup w#hin th Ws#S• fjroa ond ir¢ ne•d of 8upwI. tJrrbg thB ye8r. lndivk1k lami1585 In tho Hythe and fbdgn, Fawley and MarchwocJ areas Ytho applied to U5 for tolp, 9[ts totalling almosl £141.CW. W• e4Jntinued to supwl t Walernfjdg Foc•Jbank with Tesco w)uchers distribulo alongside thelr food par¢e18 th1oOut1h0 Chrtstmas p0d. Tho gardaniJ stheme conlthu•s lo b& very powlar. The Fund has 163 diént$. vAth around 31% of th•m bebng ov go years ofage. The cosllo the Fund thts year was ¢£43,000, arvj r8malns an Important 88Thl0 the C¢n¥nunlty. The Fund provk1e(1 lurth8r h8lp to Indbmduals Ihrwh $ho• voucher schome where vouchers ar• issu•d aithw through tho ¢h•rlty or ttrwh locAI The fvndlng allow8d over400 palrs of 8ho88 tr) be pur¢hasgd at 8 C%6t of c£12,Clo. amendment the cforftl8 nome to W•lw¥klo commlty Furhl bacamo •ffoolN fr(Th 1rt Octobor 2Q3, almino to r8580 general awwoness that the Charity exknts for ALL rn5hJ8nts of the Pari5he5 of HY1 f4)d Dibd, Fal8y and Wo have had one change in the ¢omposlUcm of tho Trustee body yw, 8 naw Tnjstse has brDught diff8rent sknlL8 and eW•ne¢. Th• Chanty t)uld Ilke to thank all v¢dunts•r Tlltsta for thetr dbdl¢atbn and tho tEm• It Itw glve to thè Charfty. My sincorè thank$ w to the three partrne staff who arn tho w•l¢oming aThJ helpfiil Interfac• of thg ¢h8rfty the public 71th0 ha b mwnlain th8 recd5 and acCnts. Thdr advk• and supwttrj TNs1¢o$ h gr•aUy volwd and our gralrtiKle also go to thts swiport agenc9 in the area who actively r•f•r di$nls to us. Jlll Tomlln Ch•lroftho Tn*l••• ?l((IL
WATERSIDE COMMUNrrY FIPND INVESTMENT MANAGERS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 (knr the lastlhreo years. morhts mobwmnts hm begn dory1¢ by primwydrivers.. (i)th8 rat• vironrrenl; lil) I¢d99al Lvwthrough& year been no drffernnL Ec0mb1y. it tos been a talo Lrf hafvos.. th• ftrst h8WaS ¢Jnlnat¥d bycffi¢wns cwfjr trugh iTfflation. lisj inlwo$1 r8t85 and thefew a glcthl rec. the SeCd how by o r¥Avn to grThAh, s&ns IhAt(nllEkn waB faUir¥J b8d( asf8st it d1•kYd ftDm c1 th•rYJkng fmm vAn lo put up Inte91 rates to wtwn to artllnL haKofthe year, math uTcAd end th& soAr +6.63%. In these¢thd hdfof2tr23. tho UK lolned 8 nurrt>or ofoth8r advawj ec>)nomles that had exwienced 8 s caued Yecknical roc•s8iJn'_tsvo e£nso¢yJlNa quartars rrf Lxydtir9 GDP. In rrKJst C8s4 wa5 only a margSnal cnntroethm in Wt swalknn k5 probthy a folMr¢atwJts81kn. (V•hK6t grow1h kn the LK8 sk%td. it the excepticfi.I e's on the tekuns frLYn uKgrmment trKnds Igltsl vthlth rnke8 ttm, In ow opinKffi, a Idatpty k)wostvrdyof agatslthe rf$k of a selbar Sn t'e$ aThS rAher iisknr assfjts as wel as a wftA way of k)wu4rwJ risk pytrolos. The maethad a tonid stArt totho yearwhil Infflakn rnmalnl hw larKI thore1e the ofirtstest ratss rf$lrvJ luthr). Gllt c¢S were In the autLYnn whlth w0ved ¢xc4Uent OFFlnty to add furth exposur¥. Owr lh8 (rfthts year, w¢ ad¢Jed £925.rJxi of glts. AB inflation ro I)ght under ttyrtsol, the expectation th81 lll bo kntwest rats tsjts JBte in 2024 c£mknres kn grow. Fixed interest investments lend to oiity)erf¢mi 10[¥no aThd. way. also havo ihe Iury of being ab to tt¢ to redempt vth15t enioyir4J s returrts. W8 would frK¥a that Int•res¢ ¢uts SL¥ne respite k¢the infrastrlKre 8ecbJT. Vrtth pyovldad somè ol I rst pfomrn kn thè prfdk). These Invesbnent Intsts ère trading at significarrt di8Crnts to thelr rnt sssets vthich Iyo wll nwrowlm. rthing kn my sK¢rrfl pdrt 20ZJ124 has also been domlrAted ty afow tethts)Wcatly4cfiwd, fast-wAFYJ gk4 krhml 88 the'magnthnl STh". ty)me as rvJ SUFwkn Ihatlh8 hvo dr8d knvostnI9 hgtd from thFS grcyj (Amazon ènd m(11) tsyo dlhe best perfoMws in tho tfor10. The t•thnc4w domind SoJtti6h ha6 dso had a raum to r4>kl h rK> WJY held by 10% In IM US 8tod( nthevs dathg. NVIDiA. Cokdw, t 86von Inves1m rel¥nt n&afy 30% ofthe US mwkot d. for Iha fiBt 012023, contiibut•d to t gairs US 4FKltsx. when N¥JStco2ns re drfOrMIrv. As a resulL unless dlng an weuhfjryJ to these Seven Inves1 {whkh wouhs lak¢r4 ConSd•bltr sentim8nt and rrKMwilum aro wla1Y pmrful forc•$- Ixrt (an on 8 dimel, K has been extran diffi1 forinv•sts naws tr) Ixl mattlds. HIAvever. as Ihe ye8rprogr6858d. rr and nyjre D)mponw Ln ) F4rtkapalo in mathets. Substantial ofitgru•th rwnain8d relaiNoty m 8rthJ irttlLWAnaW h8vÈ rwi4Èd d¢)wn ftsre¢a#s fcr 224 forall tMA Ihe Nghest lty and se¢tor.ltrading ¢ornpans. Fkndingthese remairB a cue fo(ws and some ofthè vitch95 (GlaxoSmltllQlne Into AstraZsrca, P•v$4nnwi lrto 8dMy. for exam)tsAect Ills Loohirg forward, vthile bel tho oulknok fr)r th• gbbal •o)w and c(¥porate profits has brht8ngd s1gnrfKly, the risks venI ¥IShed entsety arrfl C4)ns¢4S Ihot some stoc pikes memed th? of erg tk oultt&foT prrfts $ugg¥ts th$y$trj1d b¢. W¢ much mtsro ¢crifiGe than dkl when we vrte th1& report last year. a] tdieve that gcod Fthns can bo hleYed in the medtum4emi. Hthva¥er, h dc•sn't mean that b8 enother or In thè r1 ah. but the F0 Bhwld to WIthd these. TIM BO11 Cartv l Gooryln• HanLI Inwslment Dlr•¢torn
WATERSIDE COMhlUNrrY FUND INDEPENDENT AUDrroR'S REpoi¥r TO THE TRUSTEES OF WATER81DE COMMUNrrY FUND Oplnk Wo h8v• alted the fjnancial stslements of W8leTSKle Communty FuThJ (the'tharitY> fcf the year ended 31 March 2024 1¢h (xjrnwlseth? statsmontoffingndal a1105. the balance Sh1. and tho not8s1o lherman1 statgments, inckKling $ignffi¢Ènt accounting FdiciBS. Th? finan¢id rewbng framewtsrk that has b&en applkwl in their preparatn is applic8t4e18w and Utited Klngdom Accounting Standard8. Indudlng FRS 102 The Fin&ncl Standard appIrts in the UK8nd RgpuNkollro18nd{United KiThJdom G•n8rally Ac(pt8d uAKmltng Pra¢k¢). In our opinion. the fln&nd81 $tatwn•nts". &4ve a true and falT Ilgw of the state of th• Cris affairs as at 31 Mar¢h 2024 •nd of its iOmIng resour wxl •PF4i¢ation of resoureès. for the yearth•n •nded'. ha bg8n prowly prepared in •¢COTdanca Unitsd lfjngdom G•n•r811y Acc AeefAmUng Practtca: and boon weFl¥j in •¢¢ordwtt with the requ•ments of th• Chariles Act 2011. Ba81• for oplnlon We c¢U¢l¢d ow a111 In 8ccc¥danc8 lth Int9mAllonal Standards on Audmng (UK) IISAS IUKII and appficable law. Our r8sFM)nsibditres undw tho$8 stsndards are bJrth•r dèseribgd in the Auditorfs rnspon$ibiliti8s for the audit of the fingncial st8leThnts Secti cl our report. We are Independent ol th• charty Sn acts)rfan¢& wlth the elhl¢al Tequlrem8nts that arè rnlw8nt toourauditof the fanal 5talemonts In th• UK, knthd¥vJ th? FRC'S Ethl¢o18tsndard, and fov¥ fulfill8d our other ethkal r•spMsibiliti8s in acccfdanco wlth r¥quirements. We belthe Ihal the aud evmlenco have obl81d Is suthent and approprl•t• to provkle a basis for ow optNon. Conclu¥lonts rel•tlng to golng concern In auditKy the financial $t•tsmnts. wa hav8 conduded that the twstees. useof thegoirwj (x)ncern cl8c¢ounlTrJ In the eparaOn of thg fin8ndal statements is aprKorxialg. Based on th• WDrk h• perknned. we h0 not Idwtrfied any metsrld ¢trInoS r818Ury to ev8nts ¢>)nd that. Indlvldualty or eoblectNely. may cast gnificant dwbt c the thriVs abilty to ¢on15nug •$ a go ojncem for a perp)d of at le8$t h¥¥fve months from vrt)en th& fflnancial st&tements #Te 8uY)M"sed issu8. r respolbIlIos the respJnslbdMlo$ of th8 Irusteas wlth respect to plng ¢orK•m are d8suibl in the re]ovant secticffls of thi$ r¢port. othw Informatiq>n The olhgr Information comw$6s th• knfomiation indudod in the trusl•8s' •Mual report. other than the ftngndal stal?mgnts ¢)ur auditofS rw thereon. Tho trusteas are responsible for the olher Informati conlalned wthn Ihe annual rem Our OPFthn on tha finantlal statemants thes rK4 ¢oYgr th• Othor infmtion a1. except to the oxtenl otherwise explKftty Sta1, wo do not expYes5 Iny fomi of asswan( thoreon. Our responslblttyls to road th8otherlnform8lon and, Indn9 so. CondeT Whh•r Ihgath•r information i8 materidly incol$tOnI with the finla1 statements or wr knovAedge obtslned In the cours• of thfr or otheNhse appe8r8 be m•lrflally mlsstated. If we identify such m8terlal Inconstendes or appor¢nt malgdgl mlsstatements. we are required to determine wh•lhar lth'$ glves rise to a matsrial missl8tem•nt in Ihe fin•nrAal stst•m•nts thwns8lv8s. If, based on the work hav8 p8rfrm8d. we conelude that there Is a m•torio1 tatement crf Ihls other 4n&¥mthn. •r8 Ired to repc*i that faet. Wg ve nthing kn rnport In thSs Mgard.
WATERSIDE COMMUNITY FUND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WATERSIDE COMMUNrrY FUND IAatterB on vthlch we •re Yequlred to report by •PtIOn W• ho Th)thlng to in respect oflhe fO[knn9 mattars li rn18trcn lovthl¢h tho Charrties (A¢ And Reports} Regvlations 2008 wulrn us to repxt kn you If, In our oplnlrth.. th& Inknatlon gfvon In Ihefinanrxl statements is Irrls1Ont1n any n1la1 respt th8 Tw81, rnpor¢ sufftenl accounting facS hava not Wn k?pt th8 finandal slalgmonts are not In 8ftl th Ihe afxounling r8c(xds and r8M$. or we hBve not received all t knfonnauon arKI explanations we requre for our audit. R•8pon•lblllll•8 oltru•t••• As extyalned more fulty in the statem&nt of Irustfjes, r¥$p)nsIb1tie5, the trustses ale responsible for th• pr¢parat of the financial stat•ments and fc being satIsfd Ihat glve a and fairvkw, and for Such Intemal control as tho INstses determThiè 1$ necessary to ona• tho Fryarnon of flnanel slalements Ihot are free from materlal mIsslatem whether due b fraud or error. In wep8riNJ the flnan¢1 $I4mts. tho trustees are respon5ibl8 kn assessing the ch8rity'$ abllty to Lxffltmue as o ng con(m. disdosirvJ, as fjpplkable. matters related to gtslng wncem and usiro tho golng. concem basis of a¢¢ounUng unl6s$ the Iwstsgs ether Irthnd tg Ilquld8te tho Charlty or to c4as• cper81ion8. or hav• no ro4$11¢ altwnalive trJÈ to do so. Audllots r•sponslbllltle• for th• audt 0llh• flnan¢tal 8tat¢m•nl• W• hav• b8•n •rpintsd as auditor under section 144 of the CIHrtUes A¢1 2011 WKI rewt kn a¢¢<>rdance th thg Act relevant re9•S made or hav effoct th•rnundar. Our obj8ctiV8s ar8 to obtain rnasonablo asGurnn¢• about ther Ihe finanual slatemfjnts as a %thole are free from matsrfal mkstslement, whelhw due to fraud u error, and to Issue an r•port thJt Sn¢lud8s r¥Jr opinion. R•asonable asswance Is a hlgh level of assurarth imrt is not a guaTants& that an aud¢t c4nducted In acc#)rdanee wlth ISAS IUK) will detect a rnatorial misstat•m8nt vthen it èxsts. Misstslwnents Can ari50 from fraud or etTor and are corisld&rod malwal If, Indivldually or in the aggregate. they oJu(d reasonably be exp•¢t•d to Inertt tho ac%oMiC dg¢isK)ns of uws tak•n t)n lh• bask of Ihese financlal staterrtsnts. A further description of ow responsiblliles is aVlabl0 on the Flnan¢¢al R•porting C4XmCtI's webs618 at: hty'.11 w•M.fre.org.Ukla#iIryWessIbl11ll8$. Thls des¢riptb)n forn)s part dour 8rtC¢S rept)rt. Extent to whl¢h the audlt Was ¢on$ld•r•d ¢•pabh of detKllnq Irregul•rftle•, Includlng fraud Irregularffjes, IldN)9 frtt. arè instsnces of Th)nomPli8nea wlthlows and rngulations. We desrgn procadur•s Ilne wth our reswJn5ibllFiies. abov¥, to ¢Jot•ct material misstatemènts In respect crf Kregularll66s. kn¢1th1ing Wo obtain and upd¥t• ¢xr Ur•[StalIng ol th8 8nUty, its 8$, Its c¢ntyol onMent, and Ilkdy fiJlw8 develcpments, IncludkYJ In relation to the Wl regulatory framework and how the entity is ()mthrYJ with that framelr. Based on thls wdorslandlng, wè Identy an(1 asse88 the rks of material misstalamenl of the financial strtsmfjnts, wh•ther to tra4 or design perft>mi audit PTOL¥dur8s responsive kn those r5sks, •nd oblain art evid*n Ihat is suffi¢lent and apprOpate to pnvldÈ a besls f ow ¢¥inl¢n. This includes c&Msld8rallon of the risk of acts by tho tElY that were contr8ry to 8ppIK4ble Lqws and regulath)ns. lThludlng fraud.
WATERSIDE COMMUNITY FUND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WATERSIDE COMMUNITY FUND In responso to Iho rlsk of irregularfti95 oTrJ nortrcomplianee thI•vs and regU10n8. Indudk4 fraud, VR deslon prlureS whh IncWgd.' Enqry of rag•m¢t and those charged govamarartsUnd aclual potentO81 and dalms as well as actual. suspected and all898d fraud,. Re¥n9 mlnutss of meetiros of those ¢hw91 wth govoman.' Assesslng the extent of c¢)mpllAne4 wlh the laws and consijofod ID a dract mat181 effect the finan stst¥rwits or Ihg opeTathon$ of the entty through gnquiry ftnd irwion: Revn9 financial statement disclosur88 and testing lo Support documentslkn to as$ MplIan with applIcablawS and regulob'ons: Performing audit work over th8 rfsk of manag•mnt bias and overrido of ts)ntrols. including testing ol loumal •ntri•s and other adiuslm•nts for appropr6aleno$$, 8voluatiro the buslnoss rationale of sw3n1r$nI Ir8nsacllon$ tsid& the ncrfmal LWBe of bl1n0$S and remng a¢c4)untlng ostimatss for IndlcatNs Ofntial bias. 8ecau59 of th• Inhar•nl limrtthon$ of an tre b o rtsk that we not deteet all Irrewlwwos, IndudlrffJ th086 l•ading lo a m8teTlal mbstalemont In the fjnandd stthThnts or rK)nvL))mpllan¢o wrth regulation. Th$ rtsk inLYoas8s tho more that CoMlanCeIh a bworregulati?n is removed frcffl Iho •v•nts a1 tran5actlon5 refiectsd th the fmancl81 statsm8nts, as we will be loss likely to become awaro of instance6 of nOn-¢FI8nce. The risk is 8150 greal?r regardlng trregularrties occ4Jrring duo to frwd ralhgr than err, as fraud wivofves inlontitiml c))n(almonl, f{gery. )IIu5ion, or nwsrewesents¥on. of our r•port Thi5 reFth ts madg $019ty to the ¢harfty's trusto8s, as 8 body, In o¢eonlanc wlth Part 4 Of ts Charittes {Ac&)unts and R8Fats} Regulations 2008. Our audltwork h•s b•8n undertaken so Ihol might state to the ¢har6ty$ Irustges thtsse matt•rs wa are requred to stats to them in an audltOTS' fgFQrt and for no othar purpos8. To the ftjllgst ext¢nt F4rmltt•d by law. we do ncl 0p1 orassume respSl11ty to Bnyorn otherthan tha charity and the charity's tN5t895 b¢yJy, forour •udlt vhirk. for Ihl$ rq)ort, the ¢JpinvTh w? ho forned. A,1 fj Jon Noble {Senlor St•tutory Audlt¢r) f•r and on behall of Az•t4 Audll S•rvlce• Zl .-L- ZoLr crter•rt A¢¢ounl&nt• statutory Auditor Athenlo Hou$• 10-14 Ar0ver R(d Wln¢h¢stsr Hampshi United lQrydom S023 78S
WATERSIDE COMMUNITY FUND 8TATEMEKf OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 MARCH 2024 Current Financial Year Total Fund• 2024 Totsl Funds 20ZJ Unrestrlded Regtrlcted Endowm•nl Fund• Fund• Funds No Income and •ndowm•nts from: ChirilatA• ach11•$ Inv8sthwnts 16,716 17.306 428,111 17,126 401,595 428,118 Tolal In¢omè 16.716 428,118 418.721 Expondltur• on: Raising funds Ch8rllabFe aclivities 36.895 3I89S 300.902 30.174 37,788 440,486 25,542 284.1e6 30.174 16,716 Totsl •xp•ndluM 314.380 18,718 36.895 367,971 503.794 N•t In¢omlnf¥ (lUn91 ye•owl 313.770 391,223 85,073 Not Ibssosygalns m knv•strnwts 12 252,31)0 252AOO 11,071,380> Net inconPendllur• 313,770 643.srJ 329.753 1.158,4591 Trnnsfgr b9n fund8 306.375 (5,375) Net movemtnt In fd {8,395} 328.148 3J,753 11,156,459) Totsl funds htforWard 219,273 10281,804 10881,077 11,637,536 Tc•tsl fund earrl•d forw*nl 210878 ID599952 10 810 830 10481077 The notes page8 12 to 21 form an integr81 part of ltrose ffinarKlal ststements
WATERSIDE COMMUNITY FUND STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Prlor Flnanclal Year Tgtal Total Fund• 2022 Unre8trlct•d Restrlcted Endowm•nt Funds Fund• Fund• 2023 ¢om• and •ndowment• fffj Charrtoble ¥1¢105 Ve5tnts 16,519 17,126 401, 17.569 397.597 401.595 To141 807 18,519 401,$95 418,721 415.1e8 ExpendlluY• on: Rabiig fwvjs 37,788 37,786 423.947 25,542 16.519 21,834 449,489 16.519 37,786 604794 403,818 N•1 Incomlryl (outgolwl MS¢)urc•4 448.882 85.073 11.348 Net gaIn51(h)sl on in¥gsImtts 12 11.071,38e) 11.071.386) 878,852 N•t In¢omrf(•xp•ndliur•> 448182 07.5 1,15W 8.200 Trnnsfw bgtsVo funds 15 494208 {494,208} Net mowm•nt In funds 45,324 {1201,7831 11,156.469} 690,2CXI Total funds brought lomatd 173,949 11,483,587 11,037,636 10,947,338 Total fvnd• ¢arrfed forward 10261804 10481077 11637 536 10-
WATERSIDE COMMUNrrY FUND BALANCE PJHEEr AS A T31 AIARCH2024 2024 2023 Flxed a8•ets Tpnglbb 8$86ts Infan• ass 1Q 11 12 94.564 88.309 2.360 10.252,756 10,588,936 Totsl fixed assets 10,685.SQ8 10,343,425 Current aBs•ts D•btoYs C88h at bank and In harKI Totsl assots 13 16,828 167.553 184.181 13,836 232,371 248207 Crtdltar¥: oUnts falllng du• wtthln one y•*r 14 58.949 Net curr•nt aM•ts 125,232 137.652 Total as••ts curT•nt11oblllU 10,810.830 10.481.077 Funds Enduwmont frjnds Unreslrictad funds 15 15 10.599.952 210.878 10.261,804 219273 15 10 810,830 1D,481.077 Apwovod by the board oftrustees on and slgnèd on th8ir b•haW by.. Tte8 11
WATERSIDE COMMUNITY FUND NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 1024 Px¢ountlng pollcl 1.1 Accountlng conventk)n Thg linancial ststements have been pr•par•d kn wordance wlth tM'Aco)Lmting and Reporting by Chartitios." StatsMt of R•ComEThjed Pr&tice appllcoble to charbtses prepan"rrfJ theli a¢counl$ In accc(d8nce wlth the Finanoal Repxting Stsndard appll¢abl& m thè UK and Republlc of Ireland IFRS 102) (effective 1 January 20191.. The ¢harity is Publ Benefit Entty as definod by FRS 102. The fiwndal statèm8nts are prepared In stsrfl. Is th8 1)Jnctional currency ollhe ctrwity. 1kn8twy amounts In th88t finat)c181 statements are rjndj lo tho rn8f¢St £. The fnandal statements hav• bgon prepared tho hkknical cost cThnllon. rnodiffiod th8 r•valuation of listed fft¥6stments atfalr valuo. The prindpal 4ccountSng polidas aW8d are set out beknv. 12 Golnq Conc•m At the time of 4)prov6ng th& flnandal slatsmants. tho Iru8tses have a reasonaN& expectatv)n th81 th• ¢harfty has adequats resouTC4S to continue operatn81 exlslgrK for the fcfeseeable fvre. Thu$ ts trustees contiTh to adopt the o)Ing Conf basbs of aiuLmlng In weparlw th8 finandal statwn6nts. 1.3 Ineomlng r•81¢ Recognltlon ol In¢onlng resource8 Thesè are Indudgd In the Statement of Flnandal Actmllgs (SDFAI vth. . Ihe ¢h8rity beCmeS entitltrj to th• rnsiyJrc&s: . the Iruslees are virtualty ctrtaln th&y wlll r8e4lve Iho resources.. and * the rrvJnetsry valut can be nasUred with sufficipnl r•lbIlIty. In¢om• from Charithble •etl¥lll Inco from the suppty ot $¢N6¢0$ from tharltablg 18 upon daliw oftha acted sérvi. Inv••tmont Incom• Interest re¢dvable ig incl9&4 In accounts when rgcoNable. IncDrng from UK and Ovwseas li5t8d lnve51rnts is rteoqnisod Its rxdDt is probabl? and th¢ rNable can be measuKed r¥li•blv. 1.4 Exp•ndllure ¢emen L%6ts Include costs of preparation of ststtrtory accounts 8nd guditorfs fee. tho u>sl$ oftrustse meellros, the cost of Y l•yS ad¥le¢ to Ivu8tees on go• ty constliub.onal matters. and o sharg of other support e08ts. Support ¢osls are allctthed to Of bgknn actNity Cost catego on a basls pJnsiBtent with the U6e of re50urees, Induding Staff costs by tlme spent %there costs afg inujrrwj for rrv)rn ac. l exwdrtwo is aC(Inted for on an aeuiwls basts and ha5 tjeen dassth•d und•r h•adings that aggregate all costs r•lated to Ihe ttÈg)ry. Éxpenditwt ra re¢ognlswJ vthorg there is a I1 or ¢on$tru¢tivè obligation to make payrrnts to third parties. it 1$ probabl& that th8 settlement w[ b? r•quired, ond the anJ)mt cf the obligath)n can ma8surnd rgllably. Any irrKov¢r8ble elemnl of VAT Is Ined with ttom of oxp8ns8 lo whh it rokntos. All dlr•ct and indTeL costs are atlrlbutod to tho areas to whlth b•by. 12-
WATERSIDE COMMUNITY FUND NOTES TO THE FINW4CL4L STATEIAENTS {CONTI4UED FOR THE YEAR ENDED 31 MARCH 2024 Accountlng polkim (C(tinued) 1.5 Chr4table funds Unrestricted funds aro availab[• for at th• thsulon olth? in lUrtha[ of thetr ¢harltab obJ¢ctt¥Es. Restiica•d fd$ sPecC crAdlIFO by donws as to th•y may be us•d. Tho purposes uses of the restrrcknl furttls 8rn S•t out in tho note¥ to the financial statnents. Errflowment 8re lo speufic eondilions by donors that the pItal rnusl bo maintaln•d by thB drty. 1.6 T#nglbl• Ilx•d •••el¥ Tangll)le fixed assets ère knmlally rasured •t ¢o$t and sub$8quenty mSLThI at CO8( rnl of depatiOn a1 any lrnpalrrrnl thses. Depredallon is recognlsed to off the cost or valuatn of 4$8•ts1•ss tholr sidual vAIu8s u¥eful lives on th8 foWng basls: It8seMd buildirg Ollke equyment Strai9hl Iln¢ over tho lervJlh of the lease Strdghl lthe 01 S yea 1.7 Intanglbl• flx•d 86et• InlaThJible assets ar8 r¥¢ognis•d at $1 and art subBoquently rne8sured al StIo$S 4c¢umulaled aMSAtIon arKI accumstad imp•lmwnt l>w$. AnttonIg reeegnIs so as to writ• aff th• cost C¥ V41uAlion of assets less their residugl valu¢$ over th8lr useful li5 on t follt)vAng bases: Stralght Ilrn over 10 ye8r8 1.8 hwe•trr Fjxed asset inv8strnÉnts aro m¢asurod at transactKn prfce eXdIrj Iransaction costs. and aro subsequenlly moasur8d at falr value at each rèw>rtlng dat¢. Chg6 in fair value ore tecognO8ed In net comBllexpendlhJrel for tho year. Tra9¢110n costs are a$ inrT. 1.9 Ca•h and ca•h oqulvahrts Cash and cash equNabnts Include Cash In hartd. and hlghly liquid bank Cash hekl in deposll a¢c¢unts wSlh a malurtty of mor& Ihan 90 days hdd for investment purposes rather than to meat short4eFm Cash omrrdtments a5 thfjyfall dug arg Indud¥d In ¢wrent asset investments. 1.10 Flnanclal In•trum•nts The charity ha6 elected to at¢Jly tho pn)vlsion$ of Soctkn 11 'Bae Flnendal l)$trum8nts' ar#J Secllon 12'0U Fknanchl In$trum•nts Issues. of FRS 102 kn all its financial i1m0n. Financial irffjtrurr*nts are r8¢ogn15&d In th• ¢hadt$ balm sheet when the clwty becomes poty to tho ¢cntractual Fyovisions of tho Instrum1. Fin11 8SS•ts arnl16abi11tios aro offset. wah the n8t amounts prgsenlod In th• Ilnencral statem8nts, when t Is a legally errtC0ab18 right to S81 off the rèeognised ank)unts and there is an intsnlton to setlle cm a net basTrs or trj realise the ess&t and s•ltle th& liabith.ty sinwJt8neously. 13-
WATERSIDE COMMUNIIY FUND NOTES TO ThE FINANCIAL STATEMENTS ICOPfflNUED) FOR THE TrEAR ENDED 31 hl4RCH 2024 AGGountiw poll¢b•• (contlnued) 1.10 Fknan¢l•l In•truments {conilnued) B•sl¢ Ihwnelal auets Bas1¢ flnancial assets. whteh indudo debtors and Cash and bonk bthnees. are inttlally rmasured at transaclion price including transaction costs and are suquentIY carrfod al arTrJrtis•d Cost u$ing the effeclive intsTe5t m unkws the arrangement cons1leS a ffinanng transactlon, vthore Ihe transa¢bc is measured at the present vak of the future recglpls discounted at a market rate of kntefest. Financial ossets classified as Teceivabl¢ within on• year are not am88d. Bulc flnanctal Ilabllttl•4 B8sic financL81 IlabltIO$, including crsdttors and bank loans are initialty r•¢¢smi88d at trans&clion pd¢o (mlsss lh• arrangement eonslliutos a fin8ncA tr4nsacon, whorfr the debt in5tNm•nt Ss mèasur8d al the presonl v8lu¢ of thè ftsbjre paymonts dlscJunled at a marttel rate of Interest. Finan¢i81 liabilities d8Ssrfd as payabl• within one year are Debt Instrywnts are subsequently wied at arnrrffjséd co8( Un9 the eff•Cl int•rtst rate met1)d. Trade (¥edilors ar• obligat1S to p4y for or sa1cS Ihel hèvt b••n acquired In the ordInY courne of opernllcn$ from suppliern. Anh)unts payabl8 are classed as ¢uryent Il&bllllles ff paent is du• wlthin ono 8[ t I. 11 rnl, tsy ore wesentsd non-cUff1 liabil#J'•s. Der•wltlon ol flnanelal Ilbllltl•s Financial Il•blliti•s are derets>anlsed wtn tharitys fAxtr[ obllggtk)ns eypwe or are dlschty or canrI. 1.11 T•xatlon A5 ? r•gl$tèrJ charity the Fund b¢nèfits from rates rellef and Is g•n6Talty exempl from Ino)mg Tax and CO1 Gain$ T, but notfnxn VAT. Ilwrae VAT ts indudod kn th• cost of those itwns to lthlch * relates. 1.12 R•tlr•nnt benefit• ind tern)Inallon pyments PBJyments to defined ¢onmOn rth"Tement bonefft Ithernes, and torTrlnation payments, w• ch8ryd a6 an expense as Itv f811 du Leq41 Fomi and OttKr InfomiAtlon Watsrside commun Fund is a charity irwtèd In EWaTrJ and Wales. tt 1$ a pU1C benefit entty. Charttable a¢tlvlU•s 2024 2023 ClayF4ts A1lotmts G4rdenlng Re¢olpts 607 16,519 16,716 17.126 14-
WATERSIDE COMMUNITY FUND NOTES TO THE FWANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 AIARCM 2024 4 Intments 2024 Ineom• from1S$tod invesknor Int8r8st r8tsivBbl• 424.914 3,204 .938 2.657 428 118 Exp•ndlluY on Fund• Inveslm8nl man8yment c¢sts 37.786 6 EXpendIre on Charltablo Actl%rftle• Gardonlng BcheTh k+tsMnt costs ants y&19- Indlvlduelg Grants payable- orpnisatKS Support Costs 1,909 141,502 84.041 89,887 181.656 195.044 59.159 440.486 7 0rnts payabl•- Indlvldu•l 2024 Number 115 163 2023 Nunkner 121 Generel GardonlTrJ Shoe 77,173 52,147 12,242 105.ST8 518 15,552 686 141562 805
WATERSIDE COMMUNITY FUN NOTES TO THE FINW4CIPL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 8 (Irants payabl&. oryanlaatlon• 20U 2023 a) schooh1coll•rMchO0lO Hyllle Prim8ry School wildgWThI Junior Schc Rèpaymant of grant 185uod In prior year New Forest Ae&48my IAcademi95 EnIorls• TnNI} ordrd Jun S¢hool Infants School Cadlend Prfmwy Sthool 6.500 1.030 {3.7651 2,0(KJ 2,100 1,978 17.S20 27 bl Youth Fawley Parlsh COU11 Handy Trust 10,655 18.395 3207 34.CQO 29,OSO 37207 ¢) Cthnmunlty Fawby Rugby CILtt> Families Matl•r Th• Crossings Hythe United ReftKrn Chur Fawl8y Parish C4>uncil Vardmwd Commwity Centre Totton Timber East Bcldre Communty- Ne Fcest Homas for UkJalne MarchvK¥)d MenS Shed Waterside Fi)dbank Fawby Evgrrts Sol&nl Mlnd Watsrsldo B0Ing Club tSeaS¢ Hon8yFoI Children Chadty O•khaven Hosptce Trust Wats1de Gateway Club Hylhe & DiL¥Jon Cricket Club Hythe 2000 charitab Trust W•lersid& Christmas Nre ErvJlng 50.000 25,000 10,000 9,900 5,r))O 5.CKJO 3,826 2.)3 1,140 I,0 600 31,LMXI 1,198 500 I38,loI 5,000 4,500 2.8T9 2.500 1.350 1,0 753 H•mFd¥r• C4wnty Councll 150 d) M•dlc•l w•ffare HART (Hampshiro Raticffi and Th•rnpyl Co¥ld Support 803 1.803 Tot•1 gr•nt• pay•ble to org4nl*adon• 16-
WATERSIDE COMMUNITY FUND NOTES TO THE FINANCIAL STATEMENTS (COIMPIUED) FOR THE YEILR ENDED 31 AIARCH 2024 Other expendliure Other expendllure ojnslsts of Management and AdmlnlstraU¢)n ¢osts whl¢h aro allocatsd aq follows.. 2024 2023 Supwt (y)sts <>wmanc oJsi8 89,887 30.174 59.159 25.542 100,061 84.701 Man4g•menl afKI Administratm Costs C{1$t of.. Ront rates and utlllUes Stsff costs Isoe bgbwl P05tago and ststionary Conyut?r malntenanc and 8UKVIrt Ttsloph)no Pubticity costs Sundry expensss Rgpair5 and mainl•nancè Inswar AtyJltors' remLThrallon Ro¢Nitmnt D&pra and IOM disposal of fixed assets Bank chofy•s Travel S•mnarIcclSo 3.799 61289 49,258 2,199 9,820 1,798 631 10.394 1,463 1,930 159 1,016 1.542 11,640 1.357 1,505 11200 1,867 238 478 1,974 fJ9 429 (1251 Stsff LThts Mplis•'. Salaiie6 D•finod Contributions Pensl 55,717 S.572 44,780 4.478 61 89 49 Thè Fund had 3 (2023.. 3) emF4oyees during the year. equival•nt to 1.S {2023'. 1.5) full tim8 OrryAoOs. No •rroloyo9$ rocelved tmduments of than £00,000. Nonè ofthe trustèos h•v¢ p8ld any rerNner815on or r8celved any other bgrnfits 8n AnOYMt vrith t charity. No tru$l•• •xp•n$?$ have teen incurred in th8 y8ar. 17-
WATERSIDE COMMUNITY FUND NOTES TO THE FINCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 10 TangilA# Flx•d AMet4 Leasehold Pryrty Offi¢e equlpment Total At 1 hpr612023 AddibL¥ Disposols Al 31 March 2024 Depreclallon: At 1 h4)rll 2023 Charge for Ihe year DIsF)sals At 31 Mfeh 2024 110.060 23,447 7.860 134497 7,860 110,050 25.079 135,129 21150 110 23,038 1.495 45,188 1.605 6.228 40.585 Net Book VU0. At 31 March 2024 87.790 At 31 March 20rJ 11 Intawlble Flx•d A8•ets Total Cost: At 1 AFrfiI 2023 Addllons Dlsp)sals At 31 March 2024 Amortlutlon: At 1 Awil 2023 Charge for the yoar Dlsp¢)sals At 31 Marth 2024 2,022 262 262 282 N•t Book Val. At 31 March 2024 2,098 2.098 At 31 March 2023 2,380 18-
WATERSIDE COMMUNrrY FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 31 PAARCH 2024 12 In¥e8tments 2024 2023 10.234,228 354,708 10,174.473 76283 Cash and 69tUements pendlng hèjd as part of lh8 IrNeslment porwio 10 52 756 M•rket V*lu•: Brought fOa Alditbns al g)St DL8PO$81 proceeds Urmlis•d gn$ l (lo$s•$) Net $h 10252,7S8 2,082.321) 12,274,874} 252,300 276 424 10 588 938 11.324,142 1.288,215 (1,286,373) (1,071.388) 1.842 52 758 10 2024 2023 D•btorn du• In l•s• than on• y•ar. Acuued incomo PrepaymeFrts 01¥ debt and d•FQ5its 12,667 771 711 3,070 13 836 14 Cr•dllors". 4fftounts falllry du• wlthln one yr Acuuals 68,949 108.555 19-
WATERSIDE COMMUNITY FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 IAARCH 2024 15 Fund• Tot41 Fun Fund• Fd At 1 Awll 2022 Net incoming I loulgoing} ro$oW for thè year Transl¥rs rd5 Net Inv•stThnl gains and l(>ss•s 173.949 (448,8821 494,208 11.463,587 363.809 I494,) 11,071,386) 11,637,536 (85,073) 11,071,386} Al 31 2023 219,2n 10 201,804 10481077 At 1 April 2023 N•1 iicoming I loutgokngi resour for the yéar Transfws beh¥ogn fttnds Nel Investment glbins and losse8 219.273 1313.TTOI 305.375 10.281.804 391.223 {306,376) 252.3CfJ 10,481.OTI 252,300 At 31 MBrch 2024 210878 10 599 95 10810830 Unr•strf¢t•d Re•¢rl¢t•d Endowm•nt Fd Fund• Fd Tt)tal Funds RoPnI by: Tangible and inte41albl8 flxgd assets FLx•d assèt inveslments Net current a8$0ts 9Q862 IONB,930 125.232 10.588,936 11.016 114.216 Tho Endownwt Fund r8prosents tho ¢4prtAI reeefftd by th& Fund In 1994 when it 801d nYAt of rt$ Ignd, os (led In the Descriptkn Oltr frusts of the (arity and Its Orgonlsaiional StrLKknr8 on pag• 2. transfer of E305.375 the entJ)wment Iimd •Thl unreBtrktsd fijnd rdal85 lo thè release of roalised inv¢$lmgnt incoTh to l•StrI¢l9d . of investment managemonl fee5. It also rwnbses the net transf•1 of cash furth to he InVesnI fd m th& Yr. Th& Rostrthd Fund [wnts In¢LTh frcrfn the pro10 of alk)tments and rdning sep4ics. The CesS costs of providing thèsè strrwAs ts St in unrestrictod 8xpgndllur•. 18 Trt•' Romun•rntlon and Rat•d Pxty DI•¢1 No rorThJnerntton was payable. or oul of k•( •xp8nso& rdmbursfrd, to any of the Trustetss kn the yeer (2023 - Trnn•Aetlons wlth reltrd p•rtl• Durfng th& year the charity enlered into thg fdkmwig lrnnsa¢tKTh wilh Trlaled wt"•s'. 2024 2023 Grants award•d to entllles vAlh mmon tru$toeB 18,395 18.395 -20-
WATERSIDE COMMUNITY FUND NOTES TO THE FINANCIAL STATEMEPn (copinNUEDI FOR THE YEAR ENDED 31 AL4RCH 2024 17 Commitments 4nd contlngent14bilitie• Cratlng IèA4 As at 31 Merch 2024 the Fund h8d aml MItl undor Th0nalIab operaOng leases as fOlkn.. 2024 Oporthg lea5•s wrtllfb one Ceratsng tre8 thh tsyo ar five years 21-