THE WATERLOO ASSOCIATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] DECEMBER 2025
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THE WATERLOO ASSOCIATION
FINANCIAL STATEMENTS AND REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31[st] DECEMBER 2025
CONTENTS
| Report of the Trustees | 3-4 |
|---|---|
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7-8 |
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THE WATERLOO ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31[ST] DECEMBER 2025
Statutory Information
The Waterloo Association is a registered charity number 269938 constituted by Deed of Trust dated 24[th] July 1975. The trustees have unrestricted powers to make investments.
The objectives of the Waterloo Association are as follows:
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To promote public education and appreciation of the history of the wars between Great Britain, her allies and France, known as the Napoleonic wars.
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To preserve and safeguard the sites of the Battles of Waterloo and Quatre Bras.
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To encourage a better understanding of the events which preceded the Battle of Waterloo and the course of military operations of the campaign of 1815 and its consequences.
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To encourage research on all matters pertaining to the campaign and to assist in the publication of such research.
Trustees:
Major General Sir Evelyn Webb-Carter KCVO OBE DL - Chairman
Dr John Morewood PHD MA (Hons) (Oxon.) MEd (Sheffield), HMD, NLP - Hon. Secretary and Secretary to the Trustees
Gareth Glover FINS - Hon. Treasurer and Charities Act Compliance
Trustee; Lady Jane Wellesley
The Trustees are appointed in accordance with the Trust Deed
Bankers: Lloyds Bank, 12 Rowcroft, Stroud
THE WATERLOO ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31[ST] DECEMBER 2024
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The Council and Management Committee currently comprises:
Chairman: Major General Sir Evelyn Webb-Carter KCVO OBE DL Hon. Secretary: Dr John P Morewood PHD MA (Hons) (Oxon.) MEd. (Sheffield), HMD, NLP. Hon. Treasurer: Gareth Glover FINS
Council Members and co-opted: Lady Jane Wellesley, Ian Binnie, Paul Brunyee, Paul Chamberlain, Owen Davis, Will Fletcher, John Hathaway White, Mike Robinson, Alan Yonge and Ian Yonge.
Future and on-going Activities:
Many of the funds of the Association are unrestricted, which thus may be used for any of the Association’s charitable activities and will be utilised primarily for the following projects:
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Hold an Annual General Meeting and lecture and hold an Autumn Council meeting and lecture
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Support various evolving regional events and conferences devoted to the study of the French Revolutionary and Napoleonic Wars, in particular, the Peninsular War 1808-1814 and Waterloo 1815
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To produce an edition of the Waterloo Journal three times a year
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To continue to support the Register of Memorials Project
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To further develop the Association website to inform and attract new members
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To assist in the restoration of appropriate memorials to those who fought in the wars of this period
In addition to financial support and providing and running events, the Association members are actively promoting its aims by raising awareness of the period of history by;
The prudential control of costs leads me to believe that the Association will have no problems in continuing to fulfil its obligations.
…………………………………….. Date …………………………
Dr JP Morewood PHD MA (Hons) (Oxon.) Secretary of the Trustees For and on behalf of the Trustees of the Waterloo Association
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| THE WATERLOO ASSOCIATION | ||||
|---|---|---|---|---|
| STATEMENT OF FINANCIAL ACTIVITIES | ||||
| FOR THE YEAR ENDED 31ST DECEMBER 2025 | ||||
| Notes | Unrestricted funds | |||
| Income and expenditure | 2025 | 2024 | ||
| Incoming resources | ||||
| Membershipsubscriptions | *note 2 | £14,459 | £13,366 | |
| Donations | *note 3 | £25,306 £234 £40 £0 £1,853 £1,842 |
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| Sale of Association Goods | ||||
| Gift Aid refund | *note 4 | |||
| Income for Association Events | *note 5 | £12,432 £27,396 |
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| Revenue from Adverts inJournal | £91 £0 £0 £1,000 |
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| From Memorial Account | ||||
| Interest 32 DayDeposit | £1,139 £1,224 |
|||
| Total incoming resources | £55,32~~0~~ £45,062 |
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| Resources expended | ||||
| Journalproduction | *note 6 | £8,383 £7,861 £446 £541 £153 £501 £15,812 £30,493 £211 £1,124 £989 £770 |
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| Administration expenses | ||||
| Quatre Bras Memorial Ins & Maint | ||||
| Cost of Association events | ||||
| Restoration of Memorials | *note 7 | |||
| Payment for Websites | *note 8 | |||
| Other | £0 £31 £25,994 £41,321 £29,326 £3,741 £64,853 £61,112 £94,179 £64,853 |
|||
| Total resources expended | ||||
| Net movement of funds | ||||
| Fund balance at 1st January | ||||
| Balance at 31st December | ||||
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| THEWATERLOO ASSOCIATION | ||||
| BALANCE SHEET | ||||
| as at 31 DECEMBER 2025 | ||||
| Unrestricted funds | ||||
| Current assets | 2025 | 2024 | ||
| Cash at bank and in hand | £16,090 £12,903 £78,089 £51,950 £94,179 £64,853 £94,179 £64,853 £58 £211 £6,500 6,500 £87,621 £58,142 |
|||
| 32 DayDeposit | ||||
| Net assets | ||||
| Funds | ||||
| Accumulated funds | ||||
| Quatre Bras Memorial maintenance fund | *** note 9** | |||
| Held as ‘SafetyNet’ | ||||
| Approved bythe Board of Trustees on | 2025 and signed on its behalf by | |||
| ………………………….. | ||||
| Dr John Morewood PHD MA(Hons) | ||||
| Secretaryto the Trustees | ||||
| …………………………. | ||||
| Gareth Glover FINS | ||||
| Treasurer | ||||
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THE WATERLOO ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] DECEMBER 2025
These notes form part of the accounts
1) Accounting policies
The Financial statements are prepared on an historic cost convention and in accordance with the applicable accounting standards, the Statement of Recommended Practice on Accounting by Charities and the Charities Act 1993. Full credit is taken for subscriptions in the month the subscriptions were received. Life member funds are recognised as received, as none of the income is repayable upon resignation of the life member.
2) Membership subscriptions
Total membership subscriptions have grown due to an increase in memberships (from 595 as at 31 Dec 2024 to 638 as at 31 December 2025). The corresponding increase in individual members numbers is from 675 to 730.
3) Donations
This includes receipt of a Legacy of £25,000, from the estate of the late David Philips, a member of the Association.
4) Gift Aid Refund
The Gift Aid refund received this year of £1,853 increased marginally from 2024
The Stripe payment method is helping more new members to sign up for Gift Aid, more will be encouraged to do so.
5) Income for Association Events
These are monies received for the Association trip to Stratfield Saye, Peterborough conference as well as regional events and Zoom lecture attendance by non members.There is a corresponding figure for Cost of Association events. Both figures are lower than previous years as there was no International trip.
The shortfall between income and cost is bridged by a budget allocated to each region from central funds. Given the non running of the Irish trip a compensation payment of £750 was made to Dr Hughes, the Irish historian who would have co-guided on the trip.
6) Journal production
The cost of producing & posting the journal has risen this year
7) Restoration Fund
The fund has not contributed to any memorial project this year
8) Website
Cost of website activities has risen slightly this year and consists of maintaining our two websites (general website and the Napoleon Series)and zoom expenses incurred for the winter online talks.
9) Quatre Bras Fund
The monies specifically held for the maintenance of the Quatre Bras will be exhausted this year, the ongoing
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| 10) | The Restoration of Memorials Account | |||||
| Financial data for the Restoration of Memorials account is onlyincluded in the Association’s Accounts | ||||||
| for information. | ||||||
| Income and expenditure | ||||||
| Incoming resources | 2025 | 2024 | ||||
| Draw & Donations | £0.00 | £124.20 | ||||
| Net interest | £8.38 | £23.41 | ||||
| Total incoming resources | £8.38 | £147.61 | ||||
| Resources expended | ||||||
| Contribution to memorials | £0.00 | £1,000.00 | ||||
| Total resources expended | £0.00 | £1,000.00 | ||||
| Net movement of funds | £8.38 | -£852.39 | ||||
| Balance at 1st Jan 2025 | £1,043.14 | £1,895.53 | ||||
| Balance at 31st Dec 2025 | £1,051.52 | £1,043.14 | ||||
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