**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: - to advance education for the public benefit by the award of grants and the provision of funding to schools, colleges, universities and other educational establishments (but not so as to replace, or support the replacement of, funding required to be provided by statutory authorities) and by the award of grants, scholarships, bursaries and maintenance allowances to pupils or students attending school, college, university or other educational establishments; - to promote road safety for the benefit of the public, and to promote the efficiency and effectiveness of charities by the provision of suitable vehicles, transport facilities, grants or equipment. ## **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. - 1 - ## **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. - 2 - ## **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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless they consider this basis is inappropriate. 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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the West Herts Charity Trust Limited will continue in operation. 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. - 3 - 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: - give a true and fair view of the state of the charitable company's affairs as at 31 July 2025 and of its deficit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006. ## **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. - 5 - ## **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: - the information given in the financial statements is inconsistent in any material respect with the trustees' report or the trustees were not entitles to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the trustees' report and from the requirements to prepare a strategic report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. ## **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. - 6 - ## **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: - The audit team discussed whether there were any areas that were susceptible to misstatement as part of their fraud discussion. - In addressing the risk of management override of controls, we tested the appropriateness of journal entries with a focus on large or unusual transactions based on criteria determined using our knowledge of the business and industry. We also challenged assumptions and judgements made by management in their significant accounting estimates and judgements. We incorporated an element of unpredictability in the selection of the nature, timing and extent of our audit procedures. - Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud, including designing audit procedures to address, for example: • The possibility of fraudulent or corrupt payments made through third parties. - The risk of bribery and corruption. - The opportunity to segregate duties within the entity. - Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. - Using our general commercial and sector experience and through discussions with management, we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements as well as those arising from management's own assessment of the risks that irregularities may occur either because of fraud or error. - The engagement partner considers the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws or regulations. 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. - 7 - 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. - 9 - 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 adOpening 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| - 14 - ## **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. - 15 - ## **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. - 16 - ## **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. - 17 -