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2025-07-31-accounts

Charity registration number 278891 (England and Wales) Company registration number 01227745

WEST HERTS CHARITY TRUST LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

WEST HERTS CHARITY TRUST LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees And Directors Mr Richard Minashi Mr Matthew Humphreys Mr Paul Miller Mr Glynn Humphreys (Appointed 7 July 2025) Charity number (England and Wales) 278891 Company number 01227745 Registered office Brandon House First Floor 90 The Broadway Chesham Buckinghamshire HP5 1EG Auditor Dickinsons Chartered Accountants Brandon House First Floor 90 The Broadway Chesham Buckinghamshire HP5 1EG Bankers HSBC Bank Plc 31 Chequer Street St Albans Hertfordshire AL1 3YN

WEST HERTS CHARITY TRUST LIMITED

CONTENTS

Page
Trustees' report 1 - 4
Independent auditor's report 5 - 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 17

WEST HERTS CHARITY TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025

Trustees' Annual Report

The trustees and directors present their annual report together with the audited financial statements for the year ended 31 July 2025.

The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, as amended by the Charities Act 2022, the memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102.) This report is also a directors' report as required by the Companies Act 2006, as all trustees are directors.

Objectives and activities

Public benefit

The trustees and directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the West Herts Charity Trust Limited should undertake.

Activities

The trustees consider that the charity exists for the purpose of the local public benefit within Hertfordshire and surrounding districts as defined in Section 4 of the Charities Act 2011 as amended by the Charities Act 2022.

The objectives are:

Achievements and performance

Significant activities and achievements against objectives

During the year the charity continued to make donations of vehicles adapted to meet the needs of local deserving causes. In the year the charity made 9 (2024:12) such donations. Donations are financed from income generated through the rental of investment properties, which have continued to be maintained in order to maximise current and future rental income from these assets supplemented in certain cases by way of parallel contributions from beneficiaries.

The Trustees intend to continue to raise income through the letting of investment properties to enable the support of local charities.

Future Development and Strategies

The charity intends to continue its mission in providing better accessibility to groups in need. The key strategy going forward is to ensure rental properties remain fully let to ensure sufficient inflow of cash.

Financial review

The Statement of Financial Activities for the year is set out on page 8 of the accounts.

The result for the year is a deficit £19,180 (2024: surplus of £522,341). The prior year includes a £470,000 gain in value of the investment property owned by the charity; the charities activities generated a surplus of £52,341. The Trustees consider the result for the year to be satisfactory and in line with expectations.

Unrestricted reserves amount to £4,112,830 (2024: £4,132,010) of which £2,855,835 (2024: £2,355,835) relates to a revaluation reserve.

Reserves Policy

The Trustees have established a policy to build up unrestricted reserves to a level to support the charity's core expenditure for a minimum of twelve months. This level of reserves has been maintained throughout the year.

WEST HERTS CHARITY TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Structure, governance and management

West Herts Charity Trust Limited is a company limited by guarantee and a registered charity, managed by an elected Council, and set up under a Trust deed dated 25 September 1975.

The management of the charity is the responsibility of the trustees who are also appointed Directors of the company. New trustees are appointed on the recommendation of existing trustees and who are deemed to have appropriate experience and knowledge for the role.

There are no formal procedures for inducting new trustees, however, any new trustees appointed would be practically aware of the work undertaken by the Charity and support is always provided by existing trustees.

Details of related party transactions, where applicable, can be found in the notes to the accounts.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to these risks.

The trustees and directors, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Richard Minashi Mr Matthew Humphreys Mr Michael Humphreys (Resigned 24 June 2025) Mr Paul Miller Mr Glynn Humphreys (Appointed 7 July 2025)

Recruitment and appointment of trustees

Legal and Administration Information

The company is limited by gurantee and has no share capital.

None of the trustees and directors has any beneficial interest in the company.

All of the trustees and directors are members of the company.

Under the provision of the company's memorandum of association, each member would be required to contribute a sum not exceeding £1 for the payment of the debts of the company, in the event of a deficiency of assets on winding up of the company.

The company is a registered charity under the Charities Act 2011, as amended by the Charities Act 2022. The company registration number is 01227745 and the charity number is 278891.

Principal Office: Ver House, Park Industrial Estate, St Albans, Herts, AL2 2WH.

Registered Office: Brandon House, First Floor, 90 The Broadway, Chesham, Bucks, HP5 1EG.

WEST HERTS CHARITY TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Statement of trustees' responsibilities

The trustees and directors, who are also the directors of West Herts Charity Trust Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees and directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the West Herts Charity Trust Limited and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees and directors are required to:

The trustees and directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the West Herts Charity Trust Limited and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the West Herts Charity Trust Limited and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as the trustees are aware, there is no relevant audit information of which the charity's auditors are unaware and they have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

Company law requires the trustees and directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the West Herts Charity Trust Limited and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees and directors are required to:

The trustees and directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the West Herts Charity Trust Limited and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the West Herts Charity Trust Limited and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Dickinsons Chartered Accountants be reappointed as auditor of the company will be put at a General Meeting. The Auditors, Dickinsons Chartered Accountants, have indicated that they are willing to be reappointed at the forthcoming Annual General Meeting.

WEST HERTS CHARITY TRUST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 R18k Asgassmant In order to compty with the Stal8ment of Reco¥nmeTrded PractEe lor Char)ty Accounts IFRS 1021 a remèw of the major iisks to which the charity is exposed and the systein8 that have to be established to M￿"gate Ihose rlsks has been carri8d out The trustees re￿1ve regular reports and these ar8 monitor8d on an O￿OI￿g bag*s at Board level. Exemption Stst&mant The accounts hav6 been prepared in accordan￿ wth the spe¢ial provr&ioll lor sm811 t￿MpanieS under Part 15 of th6 CompanlesA¢l 2￿)8. Th8 trustees, report was approv8d by th8 Board ol Tiustees And Directors. Mr Matthew Hwiphreys Director Dats..

WEST HERTS CHARITY TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES AND DIRECTORS OF WEST HERTS CHARITY TRUST LIMITED

Opinion

We have audited the financial statements of West Herts Charity Trust Limited for the year ended 31 July 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice,) the Statement of Recommended Practice Accounting and Reporting by Charities and the Charities Act 2011, as amended by the Charities Act 2022.

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the West Herts Charity Trust Limited in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' (who are also directors' of the charitable company for the purpose of company law) use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the West Herts Charity Trust Limited’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees and directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees and directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

WEST HERTS CHARITY TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES AND DIRECTORS OF WEST HERTS CHARITY TRUST LIMITED

Matters on which we are required to report by exception

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report included within the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees and directors

As explained more fully in the statement of trustees' responsibilities, the trustees and directors, who are also the directors of the West Herts Charity Trust Limited for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees and directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees and directors are responsible for assessing the West Herts Charity Trust Limited’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees and directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

WEST HERTS CHARITY TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES AND DIRECTORS OF WEST HERTS CHARITY TRUST LIMITED

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to include the Companies Act 2006, and the Charities Act 2011, as amended by the Charities Act 2022.

We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indicators of fraud or non-compliance with laws and regulations throughout the audit. We discussed with management any known or suspected instances of fraud or non-compliance with laws and regulations.

We assessed the risks of material misstatement in respect of fraud as follows:

We incorporated an element of unpredictability in the selection of the nature, timing and extent of our audit procedures.

We considered the extent to which the audit was considered capable of detecting irregularities:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

WEST HERTS CHARITY TRUST LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES AND DIRECTORS OF WEST HERTS CHARITY TRUST LIMITED Oplnlon on other matters prescriber by th• Companles Act 2006 In our opinion. ba88d on tha work undertaken in the ¢our8e of the audit.. the inl¢xmation given th8 trusteas, report, thich induded the Director8, Report prepared for Ih¢ pviposes of Company Law, lor the financial ye8r far whkh the finanaal statements are prepared is consistent with the fin8ncial statements,. and the Diroclot8' Report includad in the Trustees, Report has b8en prepare(l in 8¢COrd8n￿ with awlicable legal requirements. Did(ins(sns is eligib￿ for app)Intment as auditor of the West Hert$ Charity Trust Limitèd by virtue of its eligibility for appointment as auditor of a company urKler sedi(￿ 1212 of the Ccmpani8s Act. U89 of our Y•port This report 15 made solely to the charitable companys members, as a body. in accordan￿ with Chapter 3 of Part 16 of the Companies Act 2006. Our audit wort( has been undertaken so that we might st8ta to the charills trustees those mallers we 8r8 I8qulred to stale to them in an audilorfs report and for no other purpose. To the ¥ullest extent permitted by law, we do not a(￿ept or assume responsibility to anyone other than the charity and thfj charity's . trust88s as a body, for our audit work. for this report. or for the oplnions we have formed. Domin1¢ Cader Isenlorstatutory Audltorl For and on b8half af Diekinsons. StstutoryAuditor Chart8red Accountants Brandon House First Floor 90 The Broadway Chgsham B￿kInghamShIrS HP5 1EG Dat•. 271Q4J202

WEST HERTS CHARITY TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations 2 - 35,338
Investment income 3 272,433 257,144
Total income 272,433 292,482
Expenditure on:
Charitable activities 4 291,613 240,141
Total expenditure 291,613 240,141
Net gains on investments 8 - 470,000
Net (expenditure)/income and movement in funds (19,180) 522,341
Reconciliation of funds:
Fund balances at 1 August 2024 4,132,010 3,609,669
Fund balances at 31 July 2025 4,112,830 4,132,010

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure accounts under the Companies Act 2006.

WEST HERTS CHARITY TRUST LIMITED BALANCE SHEET AS AT 31 JULY 2025 2025 2024 Notès Flxed assets Tang￿)18 assets Investment property 1,608 3,750,000 1,654 3,750,000 10 3,751.608 3,751,654 Current a$8ets Slock8 Debtots Cash at bank and in hand 11 12 4.400 94,514 343,780 9,041 152,774 300.835 442,694 462,650 Cr•ditOY5= amovnts falling due withl one yèar 13 181.4721 {82,2941 Nèt eurr•nt a$$bts 381,222 380.356 Total a$89ts 1988 current Ilabllltles 4.112,830 4.132,010 Thè funds ofthè West Herts Charlty Trust Llmlted Unrestricted lunds 15 4.112.830 4,132,010 4,112,830 4.132.010 Th8 ￿MpanY is entitled to exemption from the audit requiremgnl wntained in section 477 01 the Companiès Aet 2006 for the year ended 31 July 2025, although an audit has been ca¥iied out undar section 144 of the Charili@s Act2011. The diieclors ad<Nowlodgg their responsibilbbes for complying with the requirements of the Compankgs Act 2006 wth respe¢t ¢0 accounting re￿rdS and the preparation of financial statements. The members h8vs requlred ¢h$ ¢omp8ny to obtain an audit ol its financial statements. These financial statements have been prepared In accordan￿ with the prowsion$ applicaNe to companies subje¢l to tha small companlès ragim8. The financial 8tatem8nts wer8 4)proved by the trustee8 and directors on ............ ... Mr Matthew Humphreys Dlre¢tor Company reglslratlon number 01227745 {England and Walès)

WEST HERTS CHARITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

Charity information

West Herts Charity Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Brandon House, First Floor, 90 The Broadway, Chesham, Buckinghamshire, HP5 1EG.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the memorandum and Articles of Association of West Herts Charity Trust Limited, the Companies Act 2006 and the Charities Act 2011, as amended by the Charities Act 2022, the Charities SORP Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102.) The financial statements include the results of the charity's operations which are described in the Trustees' Annual Report.

The West Herts Charity Trust Limited has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the West Herts Charity Trust Limited. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The trustees consider that the charity exists for the purpose of the local public benefit as defined in section 4 of the Charities Act 2011, as amended by the Charities Act 2022.

1.2 Going concern

The trustees and directors have adopted the going concern basis of accounting in preparing the financial statements; the trustees are satisfied the charity has sufficient reserves and working capital to enable the charity to remain in operational existence for the foreseeable future.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees and directors in furtherance of their charitable objectives.

Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market value.

Investment income, gains and losses are allocated to the appropriate fund.

1.4 Income

Total incoming resources are rental income from investment properties and contributions from donations as shown in the Statement of Financial Activities when the charity is legally entitles to the income and the amount can be quantified with reasonable accuracy.

1.5 Expenditure

Expenditure is accounted for on an accrual basis, recognised when a liability is incurred, and classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to a particular heading they been allocated to activities on a basis consistent with the use of the resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

WEST HERTS CHARITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies (Continued)

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 20% on cost Computers 33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

No depreciation provision has been made in the accounts as the amount would be considered immaterial.

1.8 Impairment of fixed assets

At each reporting end date, the West Herts Charity Trust Limited reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost or net realisable value. Cost comprises the purchase price of minibuses and related modifications made to ensure they are all health and safety compliant and associated costs incurred to the date of donation.

The transfer of the rights and ownership of these vehicles are withheld for a period of 12 months. This is to ensure the donee meets the required conditions. When the conditions have been satisfied during the 12 months and no sooner, the rights and ownership are only then passed to the donee.

Net realisable value is based on the the expected sales value of the minibuses if sold and not donated to a third party.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand and other short-term liquid investments with short maturities of three months or less from the date of acquisition

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

WEST HERTS CHARITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies (Continued)

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the West Herts Charity Trust Limited transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the West Herts Charity Trust Limited’s contractual obligations expire or are discharged or cancelled.

2 Income from donations

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts - 35,338

WEST HERTS CHARITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

3 Income from investment income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Rental income 265,509 250,258
Interest receivable 6,924 6,886
272,433 257,144

4 Expenditure on charitable activities

Depreciation and impairment
Opening stock
Purchase of vehicles
Modifications and livery
Closing stock
Contributions to vehicles purchased
Advertising
Agent Commission
Computer running costs
Traveling expenses
Trustee expenses
Printing and stationery
Sundry expenses
Bank charges
Audit fees
Auditors' fees for non-audit work
Legal and professional
Insurance
Expenses of rented properties
Analysis by fund
Unrestricted funds
5
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets		 2025
£
587
9,041
18,703
19,009
(4,400)
209,754
600
22,361
1,135
615
2,668
228
153
673
2,094
4,886
1,500
585
1,421
291,613
291,613
2025
£
2,094
587		 2024
£
484
-
62,200
28,478
(9,041)
73,250
-
21,502
1,527
1,121
2,714
158
118
697
2,123
4,813
28,332
531
21,134
240,141
240,141
2024
£
2,123
484

WEST HERTS CHARITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

6 Trustees And Directors

None of the trustees and directors (or any persons connected with them) received any remuneration or benefits from the West Herts Charity Trust Limited during the year.

7 Employees

There were no employees in the year (2024: None).

8 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investment properties - 470,000

9 Tangible fixed assets

Fixtures and
fittings
£
Cost
At 1 August 2024
228
Additions
-
At 31 July 2025
228
Depreciation and impairment
At 1 August 2024
110
Depreciation charged in the year
46
At 31 July 2025
156
Carrying amount
At 31 July 2025
72
At 31 July 2024
117
10
Investment property
Fair value
At 1 August 2024 and 31 July 2025		 Computers
£
5,409
540
5,949
3,872
541
4,413
1,536
1,537		 Total
£
5,637
540
6,177
3,982
587
4,569
1,608
1,654
2025
£
3,750,000

Investment property comprises four units in two blocks. The fair value of the investment properties have been arrived at on the open market value for existing use basis from a valuation carried out at 17 June 2024 by Brasier Freeth, who are an independent firm of Chartered Surveyors, not connected with the West Herts Charity Trust Limited.

WEST HERTS CHARITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

10 Investment property (Continued)

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:

Cost
11
Stocks
Stock of vehicles for donation
12
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Deferred income
Trade creditors
Other creditors
Accruals		 2025
£
894,165
2025
£
4,400
2025
£
85,324
9,190
94,514
2025
£
21,965
612
51,745
7,150
81,472		 2024
£
894,165
2024
£
9,041
2024
£
142,140
10,634
152,774
2024
£
22,822
716
51,745
7,011
82,294

14 Corporation Tax

The charity is exempt from tax on income and gains falling within part of 10 of the Income Tax Act 2007 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

WEST HERTS CHARITY TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

15 Unrestricted funds

At 1 August Incoming Resources Gains and At 31 July
2024 resources expended losses 2025
£ £ £ £ £
General funds 4,132,010 272,433 (291,613) - 4,112,830
Previous year: At 1 August Incoming Resources Gains and At 31 July
2023 resources expended losses 2024
£ £ £ £ £
General funds 3,609,669 292,482 (240,141) 470,000 4,132,010

16 Called up share capital

The company is limited by guarantee and has no share capital. Under the provisions of the company's memorandum of association, each member would be required to contribute a sum not exceeding £1 for the payment of debts of the company in the event of a deficiency of assets on a winding up of the company.

The charity has been controlled throughout the year by the trustees, whom are identified in the company information.

17 Operating lease commitments Lessor

The company owns investment properties held for rental purposes. Rental income earned during the year was £265,509 (2024: £250,258). There is one tenant that is committed for more than 5 years. All operating lease contracts contain market review clauses in the event that the lessee exercises an existing option to renew. The lessees hold no option to purchase the properties at the expiry of the lease period.

At the reporting end date the West Herts Charity Trust Limited had contracted with tenants for the following minimum lease payments:

Within one year
Between two and five years
In over five years		 2025
£
304,934
727,580
165,000
1,197,514		 2024
£
268,874
760,105
385,000
1,413,979

18 Related party transactions

During the year there were no related party transactions.

19 Non-audit services provided by auditor

In common with many businesses of our size and nature we use our auditor to assist with the preparation of the financial statements.