WATERLOO ACTION CENTRE WATERLOO ACTION CENTRE Charity No. 2W91 Company No: 1611872 (England &Wahsl ANNUAL REPORT AND FINANCIAL STATEMENT 2022-23 1111 •ACl2VK￿. 23112r2023 I))MPANIES HOUSE WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 REPORT AND ACCOUNTS CONTENTS Page Report of the Dire¢tovs and Tn￿tee$ 2-20 Report of the Independent Examiner 21 Statement of Financial Activities 22 Balance Sheet Notes to the A¢¢ounts 2JA5 WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENOED 31 MARCH 2023 The tru$teesldlre￿ors a￿ pleased 10 Fyesefvt their annual directh. report together with the finanual statements of the chanty for the year ended 31st Marth 2023. which are also prepared to meet the r•quiremen(s lor a direolor5' report and Conwanies ALt purposes. The financial stslements comply with Ihe Chalilies Ad 2011, Ihe Companies Act 2￿6, the Memorandurn and Artides ofAssoaath?n. and Acojunting Reporting by Charilies" statements Of Re¢ommen%Yed Pra¢h'ce applicable io (haiil*S prepanThJ Iheir a(wunts in accordan￿ wlh the Financial Reporring Standar(l applicable in the UK and Republic of I￿￿￿￿ IFRS 1021 (effective 1 Jwuary20151. For darifiCati￿ we point out that wcfd$"diredors' arKI"trustees" reler to the same people. One Is term used by Chanties. Director ￿ used by compan￿5. Like many charities WAC is both. It is a not for profit ¢wpany. OUR PURPOSE AND AcTi¥mES The main obJ"eet5 a￿ rel*f ol poverty, %d(ness and distress, the protection of heath and the advancernent ol educaiion as well as Ihe prov￿•0￿ of farylibe5 for recrealion or other leisuie b.me oecupatlOn5 in the interest of soual welfare. Such lacilrt￿s being provided are wthh the o*ect of improving the ¢on(lition5 of hfe of the persons lor whom Ihey are primarily tntended, those Pe￿OnS having need of s￿h faclibes by reason of Ihetr youth, age. infimity. poverty or sorjal and economie c1rcwnstan￿$. VISION A modem. dynamic apwJ sustainable comrnunty centre that prov￿e$ a home for groups in the area Recogni5ed hub of comrnunty services and activities in the Watertooarea A centre that i* ovmed and managed on behalf of Iheccrnwty. AIMS To provi¢Je a wami and friendly weknme to all mernbers ofthe community who use our services. To secure Ihe 0￿rship of the centre fcf Ihe communrty. wih a sustainable finanual tramewort( around rt. To contsnually improve Ihe seThices delwered by centre and demonstrate va￿e for rnoney to the organisab.ons fvnding them. Tc increase usage ofthe centre by the communty and the group5 athe in the a￿8. particularty those groups which a￿ socially exduded. CORE VALUES Soc%'al inclusHJn and equalrty oloppoTbJn Opportunrties for all who wish 10 give as well as to receive (which in our expeiience is most Ke¢¥4el Strong ne￿¢YkS intedink to form and sustaincommunrty Services planned and Controlkd by those who know besl lusually con5￿mers. polential COnSLwners and those who un¢erstsThJ and fespectlhernl Empowemient aThJ educati￿) so that Peop￿ can lead richer INe5 w￿r￿dU91Y and ￿)Ieth¥ely. The role and contrlbutlon of volwnteeys WAC i% rooted in comrnunrty effortwth much being done on a shared basi8through Ihe rnany activities ovefthe 7-dayweek WAC isopen. A numerouswKJe number and range ofpeOp￿ have an opportunity to eontribute This accounts for Ihe ener9y. ￿aINty and kvel of mutual care, as well as for the in£￿ible overall acthievements (Jespite 50 Irtue money or stsff. It also gives enjoyment and deep satsla¢lion because as poc*er ecfflmunithes ofthe have aknys kno￿.1 am because ￿ are". WAC holds The Queens Award for Voluntary Ser*l¢e. The titation for the award reflects our co values.. Pr¢)moling everyone srKJhllo gN8 as well85￿ceNe. WAC. d8velopedbythe tha1￿MMUnIty, faditates ecwmN¢, di¥etse and r8levanlsolLrf￿ lo comrnunstyfwds.. WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 WAC Dirpcto¢s Report for 202Z-13 Contsxt: Projects coulj be oren, at least V*ith caution after the long Covid crisis, but much had changed Needs had incwsed Poverty for s(me people seemed worse than WAC had known il for decade5. Many people'5 rnental and physTrl heamh had dedined. For sgme. especyalty where people INed alone, fear of going out and mixing had become seve￿. The dwital divhle had greauy wdened. ststvlory serytes had become much hardeifimpowble to aeeess. Many who hall not been In need ol help eadierwere now, for exampk. kss healthy, unemtloyed. had sustained famity Ios5e5 which disrupted Iwes in ￿￿e￿nt ways. Rtsources ￿tTe stretched lor the above reasons but also because Sorne key volunteers haol dieil. or iheir mental or phystcal healih had declined so they coukj not resume Iheir roles. Some had new famity caiing re5pon&t4"thb"es. Such knsses were very irnportant for WAC which rel*s so heavily on cornmvnity effort Working from home by lawyers was very chaI￿ng1￿j for Waterfoo Le9al Advice Service IWLASI, whith has for decades l)een running the largest Volunteer￿aSed free legal ad¥￿e Services in the UK. baseo paruy on ils ￿P(￿ats"0n within the legal Professions and, of rnurse, generosrty of the generation$ of lawyers. Hdena Kennedy, KC started by volunfeenng In 1972. The prackncality of our locabon near Inns of Court etc has always been cruual. So, oblem arose during Ihe Covid cris5 as lewer lawyers came to work in their offices. Belore lockdown, this remarkable frtt seNice had been helping 80-1W people/familte$ a week. On the p05its¥e Sde neighbourline5s ha(1 becm better un¢Jerstood by a W￿er range of PeO￿e. Finances WAC'S incLwre was severely diswupted by lod(d(rwn be￿￿Se by that b'me it no longer received any pvblic funding to th.de rt over. Rather. WAC has ￿l￿d on use of Ihe Baylts Road buikjing morning lo evening 7 days a week to generate incorne lo cover almost all costs. A¢tivities uwng WAC aL80 promote heanh, weVteiTrJ and indusdon. Costs are kept as low as pOssi￿e as many"ordinary" pe¢Jple can't afford inner ￿ty prjces. The volunteenng and gifts in ind and Sp￿ad ol costs over a 90-hour cperzbng week makes this possibk. S¢ill that income erutsal and is only Just beginnin9 lo recther. Hall hire annual ineome pre-tOWLI 2019-2020 was £,152,572. In Ihe main covKI year12020-211 rt was dowT) 10 £7.622". 2021- 2022 £81.574. This year it has Improved Ihrough the year from £7,000 in Apnl 22 to £13.IKI) in Marth 23. Totalling £130,905.lor the year. WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 WAC'8 achlevements fov 22123 l. Group aetl¥ities With m•inty older people in rnind. WAC ffiade zn eno￿0V$ number ol adjuslments ￿ ty lo meet the challenge5 mentioned above. From Juty 2022 we employeij a part-time worker. Claudia Santoro L8Uri(tlla. to help support some of the Tuesday and Thursday dubs. These days partitwbrfy aim at indudiThJ the trai￿$t older people but Others too benefftied from her efforts. The list ofweekty a01mt￿ caft bp uThJer"Seniors- on WAC'5 W￿lIe. Those ofthe pre4ovid period b%thi¢h had revNed most sr*eility after lockdown were those wh￿h had been on Zoom. had or had had a tutor or memt*r$ ph¢)nin9 round wulJrly. or had mel In LJpÈn spaces duriry lockdown. Gtntle Exercise WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Knitting and cro¢het 5cffje ￿￿MberS oft•thich had mel in parks duriry lockdown Sewing WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 WACI Art¥ Line dancin9 divided into two groups- beginr*rs *d more exFenenced on Monday afternoon5. Fl Tai Chi A self-wnning group of table tennis playerd had retumed as soon as regdaliors pennrtied. aThJ Continued to meet weekly through the year. WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Slnglng Nostalgla was an inrtlative lo encourage more peoF4e ir￿￿￿e d￿Ing the cobj winter months. It was organi5ed by ￿ loc* VO￿nteerS. Andr￿e$ and Rosa. both members of Ihe prestigious nalional Help for Heroes ch￿r. They We￿ soon assisied by Franone a student al Morfey College. Anyone can join In or just listen. and h¢)mwade refreshments a￿ k￿dty provi￿ed by the volunteer organiser5. It is a lovely ad(1￿ON io WAC actsvtyes. In our Mutt￿ raoal environment an addrtional bonus is that s¢)ngs are in many languages- down lo the th01￿ olthe 5iTrJe¥s. A few of the ￿ast inhibited i.e. usualty the oklest aitenders also dan￿ to some of the songs and people contribute who are bn"lianl on their harrnonicas. Men'$ Group One Issue this year vrds low male attendance. Men are a￿ayS In a minority in WAC acbvilies and had almost disapWea￿￿ IO the ex18nt that s¢Jme dubs looked like they were for women only. deterring the rernaining men. George, whose mother and aunt had bng been acbve members of ihe Mauntian Persioners Group in WAC. volunieered 10 start a men's group which runs on Wednesdays. Gradually rnore older men have corne bad( into Son￿ of the other groups too. but it is Still an ￿sue as it can be harder for men Ihan women to broaden ihw"r range in reti￿rnent. More younger people joined in some of these adJmt￿S. They have never been prevented but now they seem more available in the dayb'rre ￿dIrt to parbcwte. Games Afternoon Thursday aftemoon's sooal chavmeet tr￿ndS was 5adty so down on attendance,. it had induded some of WAC'$ oldest usets. So. while leawng tables where long-standing friends could cha( we have eamawked some tab￿5 for games e.g. &￿Ss. dominos, to encourage new users. People are encouraged lo teath one another. Monthly socl•l club nearer lo home We **re rxff￿erned. as was a tenarts assouabon, that sorne people were too frail even to get as far as WAC espe0￿lY in the COKI. darf< winter months. yet Ihey 5bll needed to get oul. A nel9htm￿rin9 housing co-op wih ccmmunity space offered to host monthly soaal r4ub. This quid(ty became very popukr aFKJ will re-run for Ihe colder months next year. We have begun discussions aboLrt whether WAC can help 9et somethirs similar going in another Cov op hall next W1n￿r. Imere there are other kncal re￿vaTht adivrties. wbhci5e these. Happy Bus Pass Outlngs dA1 not restsrtthis year be&wse ofthe fears $b"Il assoaated wth pubh"¢ Iran$wrt and the perceNed need io kave am Spa￿ on buses. lubes. trains to those who had to travel However. lrips ￿tre p￿pale￿ for a spring re-opening in Apn"12023. As many peopk wouk1 not have been travelhng much and mvJht bo neryou$. we found ¥olunteefS Frank Clarke, and Joanno who WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 agreed to attend to hdp the outings ￿¥•Ve. Happy 8us Pass outy.ngs had run weekly for 17 years befo￿ lock down and there very pc)w￿r. There were easy to organi5e and wovhle a free day out. Routes are carefvlly pre-planned so that peop￿ can use their Freedom Passes and go to intere$ting places. These oub.ngs prowde an enjoyat4e day OLrt. Peop￿ make new friends and gain £xinfidence to travel around. They prove a particJJL8r blessing lo bereaved people before only travelkd with a spouse by car. or who had spent so long caring for Slxmeone that Ihey had become isdated. Al least vo other local charities Pk*ed up the idea from WAC arwj a￿ u$in9 rt. Lunches on Tue$d•ys and Thur6days Claudia has 51wted lunches with help Irom volunleers on Tuesday5 and Thursdays. Nandos continued io ¢onate frozen cooked chi(*en weekly. Sadly. Andy Btt￿e who had been collectiThJ It was unable to continue but George Thoma5 volunteered to take over the weekly collection. We a￿ gratelul lo all invd¥ed as the food is much appreuated by 3ttendees. The above activities are oifered ￿￿kly. There is abo a monthly tea￿an￿ arranged by Jean Le Clerc pansrodrdub gmail.com on first Thursday of every month belw¢en 11.30•m- 2pm whl¢h requires advanee booking. The wKle range ol dan￿ Indudes Foxtrot, RC￿(.￿. Roll, Swng, Lab"n. Quickstep, Cirde dance. Sequence. LI￿ dar￿. Di8co and Party Danee. CoMp￿tr access and sUPPOrt As in the previous year Ihis remained a cruaal swwice. ts￿n as necessary to people known to WAC who d1d not ha¥e other Computer ar￿$s. It is stsffed by paid freelance 5UPPOrt w0￿er, Akin Akinwunmi. for parts of Tuesdays and Thursdays. Akn"n ts wonderfully patient and a¢so gocé at helpThJ several peop￿ at once, whth is tmportant 35 demand has gfown. We are very grateful lo Lambeth E*ate Reswjents Association for their finall￿1 supporl in rna￿n9 this service possible. This he￿) greatty improves many lives. Some people bring ITr their owrn computers and smart phones to ask Akin io help sort prf*lems including adapting equipment for people wth dtsabilrties. Many are beginners wthoul email addresses whith Akin helped them remedy as a first step. and Ihen rnove cn to other skills accordirrtj to whal was mo$t wnportant to Ihem. Users app￿ciate a safe place to exphJre their digltal identsty in a fn'endly. helpful atrp)0Sphe￿ where they can make Fn151ake5 and be fortified against p)ssible pitfalls e.g. remembering io log out of their email In public ￿aCeS and keepiw their passwords secret User goals ir￿uded.. • acces5 to jc& searches. and relatsd matters e.g. fftating Cvs. Searcher5 induded some ohler people who would not have previously ljeen seeking wo council flat sear¢hes- a c(mwter piocess whth had teo)me necessary to gain or change accomm¢tlaiion access 10 shopping, heahh care. applying for passports et¢ gistenn9 for an appomtmenl al WAC'S legal adv￿ semce Ilow up on advice frorn WAC'S benefft worker on acceswng and contirtuiny to deal wth finanaal matters. • access to contacting lamity arwj friends online and explcThg leisure inle¥e$ts VcAunteers inVo￿ed In WAC or Cornm￿rtY organts*ions such as Tenants Associabons are helped wilh those efforts The se5sithrys are moslty aimed at okler anLI middle-aged peopk. bul we gel S￿￿e younger users who have rnissed out on the Otgital revolution. Their lives too a￿ Iransfomie(I wth the new skills and knowkd9e and 8t￿$$ Ihey gain In Ihe ojryuter room at WAC. WATERLOO ACTION CEl￿RE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Ahnprovrfting help to coryurer tssels Reception volunteers Since Its eartiesl days. WAC has run a rectpwon service 9-5 on ￿ekdayS as a place people cou tum to lor he￿. This is staffeLI by volunieers vtho provide inforrnation about WAC and also *gnpost people onto Olher servtes It is also a place Whe￿ di5tre5sed peopk come and while the kindly velunteer provwjes tea, comfort or just a safe pbrx to te This serwc£ had tn be ckjsed dunng lockdown bul reopened in 2021-2022. In 2022-2023 runnin9 the serv￿£ has become very chalkngin9 a5 sorne experienced volunteers were no b)n9er availalye We a￿ very 9rateful to Gertrude Emeter. Maureen Birch. A$hel Nabanyam. Ayeisha Mohammed, Franune Peertum, Chris Ruscoff, George Thomas. mar￿ Dove and Dorothy Bates. who c¥>nknnued or began helping. as well as to Elizabeth Merricks who ￿N)ty travelkd bad( from her new home io Buckiryhamshire when we We￿ really Sluth for expenenced help. We are also Indebted to Val Roach, WAC'5 welfare benefts worker. and David Andrew5, th8 Centre Co-ordinator. who stepped ￿t0 re￿p￿On when needed. Updakng inlonnatlon sheets This was. and even by Ihe end of Ihe year remained. a thallenge. So many of the services to which people had relerwl had changed or dLSappea￿￿ and ¢onlinue lo do so. Even the kaflets about WAC activities. kept fft recepb.on and displayed Outs￿le. needed mo ftsquent changes than usual Circulotin9 inforniatlon on WAC'5 wpb5ite This wa5 revarnped in 2021-2022 and rnaintained by Chri$ Dann (its ueatorl and by Akin Akinwunmi. WAC also sent out updatrng newsletters to our mailing Ikst. For Ihose who were not computer literate. Frank Clarke. chair of a kjcal Tenants and Residents Associalion, erected notice boards around parts of the area. With so many people finding their world ha¢ change(l. rf vms important to open as rnany doors as possib￿ so peop￿ could rnake Ihe Itnks they needed. Waterfoo Legal Advi¢È Stnfice IWLASI Watertoo Le9al Adwce Servte Is the longest runniThJ prqect in WAC. started in 1972 by He￿na Kennedy QC in ¢onjuftction wilh Jenny Stile5, then the kxal cornrnunrty worker. It mgved into 14 Baylis Road Inow WACI as SOC￿ as this derelict fomier library was made available to the C￿MmUnitY and enough work had been done to make some spaces safe. Until tth*down. WLAS provided a service almost every Thutsday evening in WAC to wthith FeWe uuld drr• in. in WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 person. The dorKs open ai a pre•publtcised fft. To we¥ent pec9￿ leeling Ihey had lo queue for hours, everyone who arrived before the do0￿ dosed was normalty seen, even though this trequently me3nt some lawyers staying unlil late in the eveniNJ. This Servi￿ rneanl 85 pecpleMarniliE$ eath week ¥&Ere abk to acces5 advi￿ fmm a pracli5iThJ lawyer. DurirrfJ lockdown sorne 5eryice w35 Sustained online. Sinr£ restridions lffted and wrth mo barristers and soliotors wming Inio WO￿ at their London offi￿. rt has teen possible to rno¥e bad( to face-tovlace sessions in WAC on Thursday evenings. During the year the number of lawyers volunteering has steadity risen. However. as the nee4 for le9al advi￿ gready exceeds availabilrty, those requesting help n¢)w have to book online. Deb Anders¢)n. a retired barristerfs derk. has led on this. and technically rninded family members of WLAS vdunteer lawyers have greatly improved the Sy51erns. WAC assist5 those who cannot use IT io register for help. George Thomas kindfy vdunteered throughout the year to provhle caretak¢ng seN1r￿. So together a rnarvelou5 group of volunteers h85 enab￿d many desperate peop￿ to get *al ad￿Ce. They he￿ to over a thousand people d1￿cOY or indire(aly durin9 the year has Covered an enomiou$ range. Major themes are.. Disputes with landlordthlltrw tenants Disputes with employe Access to chiklrenlthld SUFpNi aNan9ements Relun4￿ce￿pefiS8t￿ for b¥J wrchases {overseas fi￿ahts to see famity is a eonmDn onel Some speufi¢ eX￿p*S of he Assisted a father who was being refused access to his son to make a successful lication fof a child arran ements order. Secured a settlernenl of £25,000 and a commrtment to cwry out repairs frcffl a local council for the benefft of a socFal tenant after years of disrepair of the hèats.ng hot water s stem servin Secured a svceessfijl award of a £24,000 daim against a comparry of wndow eontractors who negligenty instslled windows that resulted in struthral damage to the dèimanfs house. Successfvlly assisted a defencjant in court proceedings lo defend a d•m against her for £7 000 in felation to 8 Cow"d rant. AssFSted a landlord wrth a £3.000 daim against an esL3te agent who ￿l&￿ul1Y withheld her de sit. In 5urnrnary. WL4S is a muC1￿Va￿ed d￿nsIon in WAC'$ help to peo* in need. 10 WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Welfare Beneffts Sen￿￿ AdvFsw Val Roaeh. arKtRettpr*>ThstAl8uRen 8irth Forth¢ year 2022-2023. there has been an In￿ase in the numter of pei¥J12 seeking Weware Benefits advice. Be&quse of the need. WAC 1$ ￿lieved to have been abk to conknnue to employ our exper*nced advice worker. Val Roach. for thfee days a *eek. This was up from two days a week wior10 the Covid cnsis, due to the growing need and absence of other sources of help at that tir￿. We, and the many users she has helped. are graiefvl too that Carol Pegg Tgvanidis I￿s0 a very exper*nced Welfa￿ benefits specialist). was 3ble to retum to volunteenng heT time dunng the year. Given the en¢Kmous amount ol urfflet need for wllare benefits advpce. and the fact that we no longer re￿1ve any 5talutory fijnding for advice work. WAC has had to ￿ntIfi￿e to restrict 115 Servi￿ to older people and people with diSa￿litES who INe in the SE1 and SE11 a￿8$ Every day. we have to turn down people requinng help ￿th **lfare benefits and other que￿ ouisttje our caichmeni area or wority groups. To maximise the time use olourweware benefts eX￿rtS, they work closety wth the IT Su￿Ort 50 thai some seTrice users can leam h¢)w to hejp themsefves online. We re￿1ve referrals from Social Presubers lknkeil to GP Surgwsl. SoLual SeM¢es. Supported Heu51w, Job Centres. and other agenries. y maximizing clients. income. our Ad￿￿ ser¥￿e has been sv¢ee55ful in Impro￿n9 take-up ol benefrts and deltvenng signifi&qnt finanoal gain fot dients. M05t ol our Petsonal Independent Payment daims IPIPI escaLaied to the Tribunal Courts, wth 98% reaching a 5uccesslul outume. Some fjnancol gain5 for PIP #ppeals and other benefit$ ￿.. 11 Client A - £10,000 backdated pa￿ent 2} Client B £7.635 31 Client C E2.753 41 Clienl D - £2,777.60 51 Cl*nt E £3.814.96 61 cl￿nI F £5,545 71 Client G £3.316 WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 81 Client H - £3.032.40 91 Client1 - £1,048.28 Tax Credits backdaled payment- £3.316 Rent Arrea(s payment bad(¢Jated- £3,222.18 Rent Arrears payment back¢Jated- E2.981.52 Rent Arrearn payment backdated- £3.043.17 We encouraged people over 65 needing help to apply for Atlendance Albwan¢e and. where ne¢e$sary. Supported Ihem in doing so. We ha¥e had a good success ra* wrth the majority receiving the hi9her rale 01 £101.75 weekly. We assist pecple applying for State Pension. Hou5sng Benefit. and Counc•l Tax. as wdl for 60+ Oyster Cards, Freedom Passes, Blue Badge Appltcations, the Tax￿ard Sr*eme and Di$uets'onary Hou51ng Pèymenls. We also help people apply In the earfy stages of Universal Cre¢it from the plication through io th•r first payment. We apply to ehwrtawe organI53t￿n$ for grants and have succeeded in gainiTrJ a cooker, a felrigerator, a rnicrowave. lloonng. bedding. household app118n￿$. culery. and fooh¥ear d dothiry, and also secured a fiJneral grant of £1.492 for cxemabon costs. Having someone to share a problem vthh bs also inportant. Many people a￿ in such a muddle of despair Ihat treating them a$ a vthok pwson i8 cnjcial We provide a Safe 5pao Whe￿ we can lisien and they Can find their feel again, emotiomalty as well as finanoally. Bein9 in a Whe￿ the￿ is much else people can I￿k into can also be helplul. SLKh as so¢￿1 activities. legal advi￿. helpiThg others etc. Recyclln9 Asher. supported by other volunteers. ¢￿tinUed lo run a fEcydiT¥J stall oulside WAC. It5 puipose." Help people who We￿ shofl of rnoney 12 WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Meet Tr￿d because mwy IhiThJs are no longer x4d in W*erloo- severe ded￿e in r•tafl shopping and not everyone goes onlir Provide SFeC4al supplies suth as sleeping bags. rJothirwJ. ruc*5ad(s reffeding Asherfs Strong concern for horneless kwle Raise money lorWAC. It is great when peO￿e who a￿ k)nely meet a l)ubbly. thatty person on Ihe ￿CYclIng stall. This can encourage some isokted pecple to veniure insKle WAC but othets a re9ular chance 10 that and tts bfu4vse is posilive. WAC Goryl•n was fvrther imwved during the year as Frank Clark added his effryts to those of Georye Thomas and others whts hacl laken rt fowrd previously. They ensure the garden thrive5 through regular caFe and watenng". more bird$ and wu1￿¢& to fed. 11 ss lovety to be able to provide such a ￿eac￿f￿ haven in Watertoo Building improvements The £6.000 remainlng in the CCLORS IC0v*J￿coveryl grant receNed In the p￿￿Ou5 yearwas spent. a$ pknw. improvements. It was abo necessary to spend £6,000 on unforeseen lrft repairs. At the end ofth¢ year, Lambelh Cwncal began work on a number ofimportani energy-sawng mea$yres. but the work was mainly un¢Jertaken in the lellM"ng finanual year. Number of volu*iter¥ The Charity Commission nrr4V requires t9 V¢)¥MJe the numterof ¥o￿nteerS SUFworiry WAC. The trath"b"onal approach to volunteering B to I￿nk of ore i￿￿1¥￿1Ual 9Niry ￿'me to help anolher. On this basis WAC had at least 96 volunteers, the largest conb"ngent1641 being frorn the legal professions- barristers. soliulors etc- volunteering wth WLAS. olhers vojunteering on Ihis rnodel weTe the ￿ceptIonIstS, and those deabng wilh recyding. giving welfare benefits advice. looking after the garden, or 5hanng buifdirng expert￿¢. Ho*ver. WAC is a ¢ommunity centre and many rnore Voluntee￿ are involved on a mubJal support basis eg this is hcpw several of the older people's adivities run. Also. many of sew-wnning actNthes which use WAC'S spaces are mutual supp(xl groups- we have a speoat kjw rate for hall hirers who have no pai¢J staff. Even those 13 WATERLOO AcnoN cEl￿RE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 do have 5cffle element of paid staff often rest on members giving oftheirtime and several involve volunteer5 in the conventional sense. We have not induded these in the figures above. Furtherrno￿, WAC supports unpaKI groups in the ctrnmunty eg using our equiprnent. advertising their activilie5 through WAC or provwjing information and supwrL We also berefit from unpaid extra support with one-off need5. WAC beI￿veS that a5 wide a range of ￿Ople as Possib shouh4 be able to volunteer. This year we had a wvlar help fw a teenager frorn Roots and Shoots. He loved helping so mucth that he carne to WAC even when Ihat meant mis￿n9 their Christmas Party. His needs We￿ such that Ihe charty aknys sent sorneone with him to support his volunteering. We hope the eYPenen￿ VMII help hirn into pamy ¥￿Ik in future. Votvnteering should and doe5 benefft the"givets" as well as ihe communty. Anyone ￿rnpa￿S WAC'5 output5 for the year %wth our InC￿e ￿111 probably see why we have The Queens Award for Vduntary Service. H•ll Hlre at WAC- As a ctrnmunty WAC has apways wowded space for communty actiwties whith are not run by WAC. As a ￿M￿￿ty efforL Ihe %thole builjing ha5 brought into L￿e 8nd another floor added. and WAC has trKen abk to incwse this. Gi*n our focus. the Centre has been CLytslruLted 50 r( is mainly haIl￿meeting rocffjs arKI storage Spa￿5. Most grtwJps tannot have their own halls. lThJeed. smal g¥oups would find rt impassible to foDJs C￿ managing space as well as putsuing their core purpose activity. How¢vèr. rt Is Important that tr the wod a group hirts a spa¢¢ whith they can arrange so rt fee15 nght for them. as well ¢Th￿se larguage anol style ¥thich t want So, walls are kept b3r¢ and. as faT as possible, groLP equipment is gtLYed away after use. During the week the dancehall may lorA( like a church fr(ffi West Afn"ca. a 19605 dis￿. a ￿931 adM¢e servi￿. of muth else. Th￿ fiexI￿e System has been Wtr￿ed WEII fordecades. VVLAS. the Divine W)rd of God Church and LorMJon School of Samba have been In WAC for over 30 yews. Ot￿r groups haVel￿Tred as space inueased. Sintr thE 199)s there have been new drwer5 for U￿a￿n9 rnore space indLKling ihe inc￿351ng difficulty of finijing affordable pJac£s fcf loc* communty acw. Imp￿￿nyY. it also became clear that publ￿ sector granls were dediniThJ so we had to boost inC￿e and rEdU￿ c051s. WAC inueased the intensty of tts t￿ldIng'S use to a 7￿8Y week nm, wlh morning to evening access. This necessrtate(l irry)ro¥ed s￿nd proofjng ￿tween halls, more tINkts etc. Scme activ￿"e$ cross- subsidise others (for exarnp￿, they contribute trj support the 80kn￿ services. activit￿8 for eKlersl whik costs are kept down for most users who a￿ *althy. Befcfe W(dovm WAC had mana9ed to become largely self4uFpc*ting finarKi4ty. aKled by vc4unteer efftrts. donations et¢. l acl'vibes pr￿nOte WAC'S corè purposes." heath and ￿Elbe1Thj. wnmunity Iniegrabon and empowem*nt There are 4 le¥e15 of charge". free. cornmuntylmutual where all effort 15 vojuntary or chantable and small see￿1 enteiprises. and finJty an "Olhwlbvsy￿Ss' caleg(ry loccasicAHI one-off ev**sl. In 2022-2023-the Cowd recovery year- han hire actiwtes were often stnjggling for numbers as we those directy run by WAC. Ithite some actMt*s had collapsed. AttendanTr has ￿¢7•￿ rewved over the year and rw inrtiatives en*rged. Weekly a¢tlvltle$ induded varityJs fonn of dan¢t. Dan￿ ￿ a 9reat way in Its stay healthy and meet people in the uowded inner city. In March 2022 DarKe your Way Home by Ernma Warren was published by Faber- part ofthi5 boL* is aL¥)ui Ihe dance a(*wty Emrna Pathop*ed in at WAC. The publishws wanted to have ￿ bock launch in WAC. unfortunatety WAC was al￿aty fully booked. Still. rt was lovely to tsad Ihe thjok revie￿ eg-beaulffjJI￿ ￿tten. In$gh￿l and expansive. this bTh)k confinn5 what I have a￿ayS telieved- rf you can move. ytyj can dance.. In WAC ChIld￿Th,$ danco class•s are rnainty daybrne events and many dasses are needed to 8¢X(￿mod3te LIIffe￿ni age groups aThY skill levels. Many are run by di kdance hotrnail.c 14 WATERLOO AcnoN CENTRE REPORT OF THE DIRECTORS ANO TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Adult w*•kty dance sessions indude Rwk'n 'Roll lJi¥e See h Ihwm. arisrockdub.ccffl, Line dano for all Call..Jean Le Clerc 07944T15556," Salsa and drumrnong satsateca.co.uk' Samba Danclng l Drurnmlng See hty)".11 w*VW.10￿lonSch(￿)IOtsamba.co.uk Martlal Art$tsWo￿ lenelng dass•s .Ih*Ww.s(xrtNondonfe￿J dub.co.uk". rate- nkaf*e land. Musoe and Cholr Pico ￿artet Em*l". la￿. Email." edwardjmills@hothail.cajm Rellglousl sIHrftual Dimre Word of Gcrty Ernail". sonlondon mail.eom". Intematb)nal Christian Church Email.. dominik.hertitzek us¢J21. ". Enlightened chrisb.an GatheriThJ Email. imeutuk live.¢o.uk". Eglise B2ptsse du pkin évangile Email. faM￿nkOnan ahoo.com .' BrrtL4h Union of s￿rit.st SOc￿ties Email" Ilsonlondon mail.ccxn," Orum Healing Email ascf.o urv ud.com' Kc#Jaty Chw ofLoNlon Drawing Lrfe Drnwirs Ernal info In addition there arn on*off aclivities often asS￿l3ted loc* Ch¥￿'e5 eg the Okd Vic retumed to running Matinee Idols in WAC. a momng of events for ab(Krt 60 over-50 s pric¢ to attendiNJ subsidised tid(ets sh(y44 at Ihe theatre. wwe fortunate ￿lIe our group adiMtEs ￿tre rebul(Jing the Okl Vic a159 needed space for rehea￿1$, traininy, cornrnunty worhshcps etc due to building works at the theatre. We are Waterfoo a5 Usual used Spa￿ for thwr and wrappng of Christmas present deStI￿d for awc¥)riate WAC users and rnany oth￿5 In need in Ihe COrnmLmlty. Guys aryj ST Thornas's. Walerlw Health Centre. Oasis Nurture Pr(ieLt ￿￿1 a Parrper Party for ParentlGqrers. kjndonlivedra In stmmary, the year saw much I£￿1 communrty acW and meetings. As regular activthes buih up, it became dear Ihat we neethj to retain sc¥ne spxe li eveningslatvrt&erM1s ftr efje-offs events. I aln th do this on Saturdays. Pvogrnss Lambeth Council'$ proposed new Volunt•ry Sector Buildings Strategy During Ihe year the￿ has unlorbjnately been onty Very lThrted prc4yess on estsblishing the proposed rew legal arrartgemen15 betrfftn Lambeth and WAC. In the prewiou5 year WAC had re$ponded in great delail about the proposed new asset strategy put foN4ard by the Councl for Ihe Small proportion of LBL buihJiNJs used by the Community ané Voluntary Sector. WAC made proposa15 about h¢yw slTategy be improved by drawi￿ cn best practscè nationally., be operated rnuch more equitably on a partnership model". and be more flexible to reflect differenl uses and extemal frJndMg cpportunibes to draw add￿Onal money ￿ the borou￿. The Initial proposal made by Lambeth duriTr3 Covid in Spnng 2021 wouhl have impaded Con￿derablY on WAC wilh very s￿nIfiCant rent inueases and a IwnrtJ"ng le[￿ of lease which would prevent WAC frorn raising extemal grani funding. Also. a short lease would remove the arnazing amount of practical rp we ha¥e received from conslnjdon companies over the years to res¢ue Ihis formedy derelicl buikjfftg and ￿ tonbnue the enhan¢xments needed to aCC4•nmodate ever In￿8$•19 usage. Quesb"ons raised by WAC about why we. as a suctessfvl muttwurpose cornmunity resource. ￿￿Te being included wilh a group ofmuch 5malkv, mainty sThJle use spar£s. were nol answered. We questioned why WAC wa5 not being coThsidered vthh larger organi%alions being offered leases of at least 25 years? We have not yet re￿IVed an an$wef. Neverlheless, WAC commenced disCUS5ions wrth Lambelh and held a productive meeting at the Centre wth the Counol offi¢ers and our professional 3dvtsets where Ihe basis ofa new lease 8fTangernent was frjlly disoJssed. Thi% lo a draft Heads of 8 Turns lor the Lease being produred by Larnbeth offering a 20+year lease arKI moyified ternis induding a stsged 15 WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Iruease in rental over a &yew period. Having made a Wentsalty pogtAie start, howtver, and deS￿e earfy leiters fr¢yn Lambeth promisin9 action to progre55 matters, nolhing more was ￿ard from the Council overthe next 12 months. Despite repeated letter5 frnm WAC asking for an update. no ad(nowledgement oranswer was recebved. Itwas not until mbd-2023 Ihat any fvrther ￿r￿M￿nicall0￿ was re￿wed. and a meeting hekl in August 2023 that set Ihings back lo the original unsaD"stsdory starts"n9 point. Tt* earfier Lambeth stsff mernber, wrth vkncm WAC had rnainly been dealing. had Left and the Counol ptoposed to Start again appareniiy hawThJ no record of hi5 correspondence OT meeting ￿th WAC oi our lawyer5. Devel4)rnents will ￿ reF*)rted in next Annual ReporL 2. Posrfave sieps to tack￿ Climate Change chalknges arvj iThW￿ent more sUStsinab￿ energy conservation measl￿. Lambeth has. in common many olher London Cwnols, signed up to the Climate Ernergenty Dedarats"on and pledged to take 5wJnificant 5tep5 to tad¢le energy ¢orbservation and reducE cart>on ernissions. Additional extemal funding from Govemment and other sources has been made availab￿ to help make prc•3re5s in tadLliThJ older builaings wih traditional gas-fuelled heating systems alongskle poor insulabon. WAC could have applied fN suth external funding but was constrained by the proposed new lease arrangements and Lambeth nolffjed us thaL alongsrde a number of other older premises. Ihe Counul would prionb.se works in the building to help meet the Counol carton reduclion targets. WAC then started detailed work specialist energy conservth'on firms to survey the buiklin9 and address a number ol prionty a￿￿)n$ indudin9 wnproveL1 insulation. enhan glazing, LED IvJhbn9. voltai¢ panels on the rool to 9eTherate ele¢tricity and a ground sourr heat pump sysiem In plate of a very dated g8$-fi￿￿ and hp3h ¢artJon proJU￿9 heating system. The actual improvements have been ¢atr*d oul durin9 2022123 and VAU be reporteL% on in the next Annu4 Reptyt 16 WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 YIAC trustees thanks lo key staff and ¥alynleers WAC trustees wish to ac*nty*ed9e the athievem*nls ofthe ye* and thank key pecyle for their contrbution. Our smajl excdlent slaff". Davhl Andrv*ts, Centre c￿rd￿alor and the onty [￿￿tIne 51aff member, has thL8 year done an outstandiry job as have the other staff. tulors. and contractors. WAC has ol course vasuy rnore vdunteers Ihan paMJ stsff. especkilly if Induding the many who conlnbute on a mutval supwt baso. Wdet support from the uynmunity is aLso cnjoal. Many of our u5eF5 corne trom traditions where il takes a y￿139¢ to rwse a chikj. In hard bme$ it certainty takes a community to sustain 3 communty ￿Trtre. Ptsblic bentfft $taternent In shaping tyJr obJ"edives for the year ￿annIng our acbvths, the trustees have considereo the Charity Cornrni5sion's guKlance on public benefrt induding the guidance pU￿1C benefit running a charity IPD21'. The achwements ￿ athl￿$ above demonstrate the public benefft arising Ihiough the Charity's aCtiv￿e$. FINANCIAL REVIEW The Statemgnl olFinanc¢al Ac1JV￿￿s sh044*d a net defioi of £56.LYXI (2027 - r￿t defo"t £12.0641 for the year and ￿SeNe5 Stand at £194,366 (2021- £2￿.366). The fvjancthlpo&.t￿ atthe year revealed Oy the Balance Sheet shows netcuryent assets orworting caprtal of £193,996 {2021 _ £249, 760). fhv nel bo¢ik v81utr of langth18 fixed assets held. amof Wh￿ are useddir8Ctly for th8ritBble purp0585. 8mounted lo £37012027- £606J. WAC remains in a styjnd ffinancial ￿5•1￿7￿. Prin¢lpal Fundin9 Sour¢e$ Our pnmary source of inwme is se114Jeneraled funds thrLMJgh hal hif•. We also receNe some incorr from ¢Jonations and sak of re¢yded 9oods. Investment powers and poll¢y Under the Mem¢yan(lum and Artides ofA5socizt￿n, Ihe charty has the po%4tr10 make any invesknient which the trustees see fft. The trustees have conS￿ered the most aFpropriate policy for investing funds aTrJ have Iowld that cash deposits meet tsir wuirements to 9enerale inwnts. RÈstrv8s ptsli¢y There have Inevitabty been hard as w211 a5 easier tirnes ￿ the finana21 history ofWAC. The Ctsvbj period and issues of Ihe financial ¢n$is have On￿ again eonfim)ed the inporlance of having an adequate level of reserves to cover contractual cornmrtments and safeguard the on-going work of the Centre. The reserves are now below ￿at we aspire loo and we would hope io ￿bUIld them to cover minimum of six months eXpeMdrtu￿ and re5erve5 towards ￿lId1r￿4 improvements. WAC 15 aiming to improve reserves as soon a5 poss￿e but lar the irnmediate lulure has to be balanced with the growing problems in the c4Jmmunrty. *ryll aim to conserve reserves al this dfficult ts.me and to build then as soon as circumstan￿5 perm l)Jr budget forthe next finanwl year indicates that should te back to breakin9 even and our figure5 for first 6 months ofthe year Ind￿ that the this is V*that is l*in9 a¢h*ved. The Directors conskler thal the charity's rEsetves will enhan￿ the Services provided and provhle financial securrty for the fvtwe. hdd in unrestritted funds. whith have nol been designaled or invested in ffixed assets, at the 31 Ma￿h 2022 £40.88812021- £22.6761. 0•51gnat*d reserves Trustees agreed that". £78.560 be earmarked for provis￿D for repair5 lo the buildings and to ￿er if any loss of iJKyJme. due to any parts of the IMJihling being wt temporarity out of use for building knyjrks or lor external reasons in the local area. 17 WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 £50,000 be earmathed agawt eftWtoY￿Vt ￿SponSibl"l￿"e$. A￿r0¥1M￿leIY 6 months. salary FUTURE ACTIVITIES The staffing re51ryduring undertaken in 201&19 rJeated for the first lime a post solely dedI￿ted to Hall Hire lettings and management. This wès a IDgical development Slep forward on WAC'S route to becoming financialty independent by generab.ry income frorn hall hwE while also ha¥ing sufti(yenl time to ensure that hall usage continued to meet our chantsble goals. We aim to ¢gntinye this approath as soon as COVKI permrts. We also h¢)pe to conts.nue building improvements vknich means there can te even prowsion of space for communrty use as well as ensuring continued improvements in their qualty. STRUCTURE, GOVERNANCE AND MANAGEMENT Go¥ernlng do¢ument Waterloo Action Centre Ithe word'Lirnrted' being omrtted by Ii¢*nce from the Department of Trade) is istered as a cornpany limrted by guarantee and not hawng a capit31 dNided by shares. The company was incLvporated on 51h February 1982 and wiste￿d as a charity on 13th May 1982 and constituted as a Limi￿￿ Company under the Memorandum and Artides ofASsoCHti￿. The harity ￿gIstratiOn number Is 284591 and the Conpany wstrat￿n number ts 01611872. Re¢rnitment and appolntmefit of T￿Stee$ Three trustee5 are e￿¢te￿ at WAC'$ AGM and sland ¢ovm at the end of the next AGM. One is nominated by Watertoo Legal Advi￿ Service and Ihe AGM infonned of their n¢ynination fDrthe coming period. Five trusiees are eletied by ￿p￿Sentat￿￿ tsfTenants and Resh1ents Assocufjb"ons (TRAS) and Housin9 Cwps in the Watefbo area and by comrnunty projects in Lambeth. including South of Waterfoo. which a￿ relevant to adtvities at WAC. Thvee places are available for c c¢)lion by the trv5tees to provbae otherwise unrnel ski115. Thus, there is a buiK4n broad representation, which aufomatically updates as the needs and pnorth.es olthe c￿MUnty thange. The tru5tee5 have no benefick31 interest In the company other than as members. The trustees a￿ a150 the directors of the company. All the ¢rustees are members of Ihe ts)mpany and guarantee to contnbLrte £1 in event of winding up. The th'redors of the organisabon a￿ also the thanty tru51ee5 forthe purposes of chanty law. Trustee induction and training The method of¢le¢tion ensu￿5 that m05t trustee5 already have knO%￿￿9e of the community needs. WAC and other local projects or 5pecKqli$t kn(N*d9e. At each Management CcAnmittee meeting there are reports frorn eath serwce a￿¥ lo ensu￿ irusiees a￿ up to dale ￿th activit*s and chaThJes in legislation or fvnding wuiiements, and trus*e$ a150 have away days to consider devebpments needed to mai¢h Changing needs. Trustees are also offered fijrther sources of inlormation. erther through one to one help other member5 ofthe Ccmrnitteelstaff or consuttants. as well as through the pubhcations and links to the wtb5ites of organisations such as the Chanty comm6￿n. Oryanlsatlon The trustees norrnalty meet rnonthly. except for Au9USt and December. They a￿ responsible for thè strategic direction and pdicy of the chanty. All a￿a$ ol work repjrt to the Tru5tee5. R•latsd partles The charity woth5 d05ely olher ￿milar organi8ats.ons as detailed In the achievements and performance seclion ofthe Twsiees Report. 5 Ttustees are nominated by Tenant￿ResidentS 18 WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Assoaabons and HovsirKJ Ctrops a￿a. Or* T￿￿tee was during this year also a Trustee ol wate￿00 Comrnunity Devdopment Gr￿p. Two Trustees ¥**￿ on Steering Grwp ofSoLth Bank and Waterfoo Neighbours Forum. Rlsk Managwnent The diredors actwely review the major risks vthith the charrty far£s on a regular basis, and believe that maintaining reser¥es at the ￿r￿mI leve15, cornbined with an annual review of the controls over key financial systems provide suff￿ent resour￿ In Ihe event of adverse arcJJm5tanr*s. The directors have aLso examined the OFerational and business risks faced by the charity and confimi that they have estsbltshed systems to mrtKJate the wgnificant nsks. REFERENCE ANO ADMINISTRATIVE DETAILS Charity Number: 284591 Company Number. 01611872 D*e¢toYs and Trustees: Fof d*ification we pc4nt wt Ihat word$"direclots" and Iruste85" referto the same people. is a tefm used by Chanties", Director is useol by CrmpaAie& L￿e many charitses WAC L% both- f( IS 8 -nol for profrt. company. Howard Simmons- Chair Jennrfer sti￿s- Vice Chair John PaIr￿k OeaDe- Treasurer IAppThThted on 20110120221 Akn Morton-srnrth IResgne(l on 0510412022} Rctert Hayward OBE Zoe Kennedy Sally Marullo Frank Ver9ara- not stand for reélection * AGM 519123 Sinead (Jennyl O'Neill- did not 51and re*eleebon at AGM 519123 Ge¢yge Thomas Senlor IAanagernent Team." Oavid Andrews- Centre C￿ck￿lnat0r Wasim H¥ssain- Finance Worf(er Jean Le Clerc- 8ookiry5 Manager Re9i$tered Offiee.. 14 Baylis Road, LoThJon SE1 7AA 8•nkern.' TSB 2W02 H*Jh Hobrrfn, London IhC1V 7QR Independent Exarniner. Elizabeth Jane Gagie, FCCA. Hagg Farmhouse, ElliThJton, Northurnbedand. NE61 5JW. 19 WATERLOO ACTION CENTRE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES. RESPONSIBILMES W RELATION TO THE FINANCIAL STATEMENTS The trustees Ivtho are also direetots of Watertoo ALth?TT Centre for the purposes of compary lawl 8re responsible for prepanng the Annual Report and the firjancial ststements in accordan￿ with applicable law and Unrted Trfjngdom Acc(wnb"ng s￿ndards (Unrted ￿n9￿￿7 Gener81ty Accepie Accounting Practice) IncluiJiThg Finanoal Reporting Standard 102 The Finanual Reporting Standard applicable in the UK and Repubbc Of Ireland". c(￿panY Law requi￿$ the Directors to prepare ffinanrial slatements lor eath financial year gNe a true and fair v￿W of the state of affairs of the tharitable CLYnpany and of the incoming resour￿S and appI￿a￿on of resour￿$, iThthding Ihe incorne and expendrture, of the charitable company for that year. In preparing these finanaal stalements. the Th'reclors are requi￿ to.. 54ect surtable attounting poli￿$ and then appty thern conS￿nity,. observe the methods and princ4pks in the charit￿8 SORP," make judgements and e51irnates that are reasonabk and pwden(' state whether applvbk UK Aw)unbn9 Sta￿jards have been fr)Ib*ed. subj.ect to any material departures dis(kned and expbine¢ In Ihe finanu¥ ststements." prepare the finanoal ststernents on the g￿r￿j ba%s unless it 15 in3ppropiiate to presume that the charitabk Company will continue in business. The t￿reCtorS are responthle for keeping adequate a¢c4)unting records Ihat disdose %*th reasonable accuracy at any time the financial posiDon of the Charrtab￿ company and enable Ihern to ensure that the finanual statements rxjmply vAth Ihe C(mpanies Act 2006. They are also respon51ble for safeguarding the assets of the thantable CL¥llpany and hen￿ for taking reasonabbe Steps forthe prevention and detedion ol fraud ￿ other i￿egUlar￿le$. The trustees a￿ respon￿b￿ for maintenanr£ and integnty of the corporate and financial inf¢ymab"on Induded on the charitable companl5 web511e. Legislation in the United Kingdorn goveming the eparation and L*sseminakn ol finanual $￿tements may differfrom ￿g￿ation in other jUr￿diCtIorts. This report has been p￿pared in accordance with the 5peoal provisions of Part 15 ofthe Companies Act 2006 ￿lating to srnall companies. APPRO D BY THE BOARD ND SIGNED ON ITS BEHALF BY: HNDE ASU NE 10 December 2023 20 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WATERLOO ACTION CEKfRE I reporl to the tru$tee$ M my the financial statemerts ol the G(knp¥ny lor the ye8r ended 31 March 2023. This r•pDrt is made s010ty lo th• ¢harity's truslees. as a body. In aCC￿dance with the Charilit6 Ad 2011. My work ha$ been undertaken so Ihal I might state lo Ihe chartys tru￿••$ ihose M¥tre￿ l am r¢qulr¢d to stale to them In an independent examiners report and lor no othw purpose. To the lullest a￿0n1 P8Tmffl•d by tsw. I do not a¢￿P1 or assume responslblllty io anyone other th8n Ihe charfly and the rjbarws trustees os a body. lor my Independ•nl Exfjminotion, for this rewt. cf lor the opinions I hav& lomiod. R•specllv• r•spongibllitSe• and bag18 of r•port As the chartty's tvustees of the Company are 4tsolh• dlradors dth• company for Ihg purposes olcornpany lawl. you are responsible for the preparation of the finanGial slat•m•nts in a¢¢tydance with the requirements of the Companies Act 2006 ftho 21Y)6 Acr). Having $8lOsfled myseff thal Ihe finanual $18iements Lq Ihe Company are not reoulred io bè 8udiied for thls year under Part 16 of ihe 2006 Ad are efwjible Iix InOep8rtd¢nt examin￿1)n. I rep(xt In respect ol my examlnalion ol your (*alit￿S financial 61afemenls as carried oul under so¢tion 145 of the Charities ACL 2011 nhe 2011 Act'l. In carying oul my examin*K>n. I have folowed the Dweclions given by the Charity C¢thmission (under vclion 14515llbl of the 2011 Acl. knd•p•nd•nt •x•mlnerfg slatement I ¢omplot•d my •x•mln•tion. I ¢L￿r￿M Ihal no motorlal mallws have rJTh lo my •lleniion whlch pl￿8 mo c8us8 its tse￿8Ve thai". acwunlng records were nol kept in a¢¢tydan¢• ￿1h s•¢tion 386 ofth• Companies Acl 2006: Ihe finanaal statements do not accord vlllh such r￿ords." ty Ihe finan¢ial stAt•menls do nol compty relevant accountrng ￿quireMents under sedion 396 of tho Companles Aci 2006 Olher ihan any req￿rtment that Ihg financial slatements glve a Irue and lalr. view whlch is a matter consKlereO as pafl of an independent examination,. or Ihe fflnanclal Maiem•nl$ hov• noi b￿n waparod In 8cc(*danco *lth the charl1￿8 SORP IFRS1021. I h•ve no concams and have come across no clher mattefs In connoction wlh the oxamlnaiion io wthl¢h •tteniknn shoukl be dra￿ In Ihis repoii In ￿der to enable a proper understanding of the finan¢*l statements lo be reached. Slgnatur• E J GagSe FCCA Da 'a/i2 11 21 WATERLOO ACTION CENTRE STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2023 SUMMARY INCOME AND EXPENDITURE AccouKr No¢•s Unreslrictsd Funds Total 2023 Total 2022 Funds In¢orn• Donats{￿S 5.791 137.343 2.095 2.166 9.800 143.368 2,095 2.166 11,814 136.853 2.738 Income frorn charitatAe activthes IncoTh* from trading aCti￿DeS Investment inc¢me 6.025 Tatsi incomo 147.395 10.034 157.429 151,704 Expeftditur• Expenditure on charitstde 154.479 16.224 170,703 207.704 T¢)tsl •xp•nditw* 154.479 16.224 170,703 207.704 Netln¢orn•llexptnditurel and net movement In fund& for the y*•r belofe transfers (7.lJ841 1&1901 113.2741 156,0001 Transfer beiween funds Net incomèll¢xpendlttFrel and n•t (7.0841 lfj.I￿) 113.2741 156,ODJ Reconculi8tion olfw Total lund$, brought forw*d 158.318 36,048 194,366 250,366 Total funds, e•rried for*ard 151.234 29.858 181.092 194,366 The Statement ol Finanoal AtDvilies also COM￿leS with the requirements for an Income and Expendilure Account under Ihe Compar#e$ AU 21XIS. CONTINU114G OPERATIONS None ofthe toNpany'$ ￿￿vIlle$ w•r• acquired or￿￿￿￿￿n￿d during the above ￿10 finan(aal yeats. TOTAL RECOGNISED GAINS AND LOSSES The $latement ol finanual zctiwtses indudes ￿1 gain5 arhj losses recognise(l in Ihe above finanual years. WATERLOO ACTION CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 8ALANCE SHEET AS AT ai MARCH 2023 Note5 2023 2022 Fixed assets Tangiwe fixed assets io 134 370 Current assets Debtor5 Cash at bank and in hand li 6,301 177.714 184.0 7,285 201.788 Creditors falling due within oneyear Net ¢urrent assets 12 180,958 193,9% Net assets 181.092 194.366 The fvnds of the ¢harliv Unrestricted funds: General Desi8n3ted Restricted fund5 Totsl ¢haiityfvnd5 13 13 22,675 128,560 29.858 181.092 41.258 I17,(￿0 36,048 194,366 13 For the financaal period ended 31 Marth 2023 the comp8ny was entthd to exemptson from audit under secb.on 477 Compan￿5 Aci 2006. No member ofthe company has dep05iled a notK*, PU￿￿ant to seCi￿n 47$, requiri￿ an audil ol these financial 5taternents the ￿qui￿rnents of Ihe Cornpan￿s Act 2006. The directo￿ athno*4edge their ￿9p￿)sIbIrt￿fur. al eThsunn9 that the Charrtable company keeps acoJuntiThJ records that compty Sections 386 and 367 of the Companies Act 2006 bl pwaring finahtyal statements which gwe a true and fair v•v of the stste ofaffairs olthe tharrtab￿ company as al the entl of each finanoal year and of its sulplus or defiot for each finanual year in aCcOréan￿ wrth the requirernents of Sectsons 394 and 395 and which othewse ccffjply with the requirernents of1he Companies Ad 2006 relatin9 to finanoal slalwnents, so far 35 applThbbe to the charila￿e company. These financial slaternents have been prepared in accordance the provisions appI￿able to companie8 s￿leC1(0 Ihe small companies. regime wthin Part 15 of Ihe Compan*s Aei 2006. Th financial sta*m mb*r 2023 and nts were approved and authortsed fw issue by the Board of Directors and Trustee5 on 20 re st9ned on is behaff by". HN DEANe- Treaswrer .. Howard SimmoNs- Chalr Compa r> nNoO 23 WATERLOO ACTION CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POUCIES Basis of prepardtloh of Ilnancial statements The financial ststements of Ihe thariiable company. whith is a ptsb1￿ be￿fft under FRS 102. have been prepa￿d in attordance with the Charitses SORP IFRS 1021'Accountiry and Reporting by Charib"es'. Statement of Recommended PrzcThce appI￿able to charities prep3riTrJ their finznoal staternents in accordan￿ with the Finanaal Reporting Standard applicab￿ in Ihe UK and Republic of Ireland IFRS 1021 lelfectNe l January 20191.. Fin3naal Reporting Standard 102 The Financjal Reporring Stsndard applicable in the UK aTrJ Republic ofIrel￿d. arvj the Corwnies Ad 2006. The financial siaternent5 are prepared in sterting. whith is the functional ￿￿enCY of the tharity. Monetary amourtts in these finanual siatements are rounded lo the nearesE. The financial statements have been prepa￿ under the historical c*J$t convention wlh rtems recognised at cost oriransacthtin value unless otheThvtse staled m the rekvant notelsl to these ffinane4al statements. Preparatlon olfinan¢lal statemtnts a golng concern basis The charity's financial statements show net defiot ol £13.274 12022 - defirit £56.0001 for the year and free reserves of £22.$4012022_ £40.8881. The trustees are of the ￿eW that ihese ￿$￿tS and p18ns for the future have Secu￿ the irt*mediate fvtvre of the i*arity for the ne￿ 12 to 18 months and on thss basis the Charity i a 90in9 concem. Income ￿OgnitIon l income +s indL#Jed in the Ststement of Financial Admlies ￿en the charity is legally entitled to it, re￿Ipt is prcbable, and the amount can te rneasured with 5krfficienl re￿ab￿1&y. Grant income Grants are ¢redited to the Statement ol Finanoal ￿￿v￿e$ when the charity is entitled to Ihe fiJnds. Income is only L1elerred where there ¥e tirne constraints imposed bythe donoror rfthe tunding rs Perfo￿ance related. whe￿ entitlement lo grants receivable is deFendent upon ￿lfilmen1 of conditions within the chanty's conirol, the Incorne is ￿0gn￿e￿ vthen the￿ is SuffiC￿nI emdence Ihat condrtic￿s wll be met. Grants suppoibng the core a¢ti¥itss of the charity and wlh no sperific ￿$￿.¢￿.0ns rAaceLI urM)n their use are Included within donations and lega(*$. Grants thai have spetsfic resthdions placed upon their use are indude¢ ￿thin inctyne fr(m chariiable actNities. Capital grants for Ihe PLrrchase of fixed assets are credited to restricted incomirg resources on the earfier dale of when they are re￿1Ve￿ or re￿1Vable_ Depreryalion on the ￿latell fixed assets is char9ed against the restricted fijnd. Donation5 and legaclts Donalions are recognised in the periixl tN*y art rtt*ved. Legaty in¢om• is reetsgnjsed when th• tharity'5 entittement isjudged to i* probable and where the amount can be ￿lablY rneasured. Contratt In¢ome Income from charitable activities ￿￿￿de inctTh recwnised as eamwj las related goods and services are provhledl under contrad. Inv•slrnent Income Investment income is Ind￿le￿ receivalAe. 24 WATERLOO ACTION CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Volunteers and don•ted Se￿te9. facllllles and goods 0(￿ated professional senri(xs and donated a￿ fe¢o9nised as ￿tame when tharity has control over the item. any ￿nI￿n$ assooaied wilh the donated rtem have been met, the ree￿Ipt of econorn￿ benefft Irom the use by the tharity of the item is prob3Ne and thal economK be￿ffl can be Measu￿ reliably. In accoldance with the Charibe5 SORP IFRS 1021, the gene￿1 vc4unteer tirne olthe chanty is not recognised *i the main body of the finanaal statements but detail s contained in Ihe trustees report. On ￿ee￿t, donateé professiwal 5er¥Ke5, donaied faelit￿S and goods are Ter￿gnIsed on the basi% of the value of the gift to the charily which isthe amount the thanty would have been Willing to pay to i>btain serVI￿S or faalitses ol eouivalent econorn￿ benefrt on Ihe open Ma￿e(. a correspondin9 amount 15 then recogNsed wt expendrture in the pe1￿￿ of T￿lpt. Exp*ndltur¢ r¢£ognltlon Expendrture is recognised once there is a le9al orconslnK4Aie obli9atiw to make a payment lo a third party, it is probable that settlemenl wll te required. and the amount of the obhgation be measured reliably. EXFendItu￿ ts dassified vnderthe lo110￿7n9 acb.vity he&lirvJs'. al Cost of raising fiJftds CCrfn￿￿eS costs of sed(ing ￿ants and dOnatiOr￿ and, space hirè and th•ir assockqted SUPPOrt costs. bl Expendrture on chariiable activi￿$ indude e¥penditure assocwted with the main obJ"ectNe5 01 the c*arity and Indude bolh the direct costs and sutwrt costs relating to these activits'es. Allo¢•tlon of 511PPQrt ¢osts Support costs are th05e functions thal assist the WO￿ of the charity but do not directy undertake chaitable activfties. Support C051s indude bath-office costs. finance and aLSminislration personnel. payroll and governan￿ costs which support the chanty's programmes and actrtirttes. These costs have been allocated befv*en Cost of raising funds and eX￿nditUre on Charrtab￿ thrties. The ba*s on which support costs have been allrjcated are set out in note 7. Funds stru¢tsr¢ The general frJThd cornwp5es those monies. may t* used toward NwtiThg ￿ tharitab￿ obj'ectives ofthe cc¥npany at the éiscJetion of the Managemenl 8oard. The reStr￿ted lu￿1$ are monies ratsed for. aTrJ their use restricted lo, a 5￿fiC purpose or dcfflabons Subject to donor impesed Cond￿0￿$. Investrnents FrAed asset investments a￿ stated at cost kns provision for dirninubon in value. Tangible flxed •ssets and dtweciation Tangible fixed assets lexduding Jnvestmenlsl are ststed at o)st less Llepretaation. The cosi of minor addition5 orthose costing les5 than £5CWJ are noi ca￿￿1￿$e1. Depreciati¢)n is provhled at rates calojlated to write of Ihe cnst or valuatsn of fixed assets. less their esbmated residual Value. over their expeded useful lives on the following bases. EqiMpmeDt Centre Computer Eouwent 25% on cost 25% on cosl 25 WATERLOO ACTION CENTRE NOTES TO THE FINANCIAL STATEMENTS Icontld) FOR THE YEAR ENDED 31 MARCH 2023 1.10 Debt<>r5 Trade and olher dekAors are recogfirsed al Ihe setuement •nount due after any trade discount offered. Piepayments a￿ valued at the amount prepaid net ofany trale di50Junts due. 1.11 Cash •t bank and in hand Cash at bank and in hand indudeJ cash and sh¢yt4em cash deposts. diiors and prwlslons Credit￿5 and provigon$ are ￿Cognised where the tharty has a present oblvJ8tion re$uhing from a past event will probably ￿$￿tt in ￿ transfer of fun¢$ to a third party and the amount due to Settle Ihe Qblyation measured or esbmated reliably. Creditors and prov￿100$ a￿ normally recognised at their settlement arnount after allowing for any trade di%couNS due. Financi•l in51ruments The tharrty onty has financial assets and finanoal liabibties of a kind that qualify as basicfinanial instruments. Basic finanoal instruments are I￿￿"allY recognised at transaction value and 5ubsequenty measured at their seiuement value with the excepthy of bank bans whith are suwuenuy rneasured at 8m¢ybzed cost using the effective Intsrest method. 1.14 Taxaiion The charrty Is a registered charty and. therefore. is not liable Ic* Incon* Tax or Corporatson Tax on income derived from rt$ Charitable actNFties. as itfal$ vthin the various exernptsons available to regtslered Charibes. 1.15 Jud9•ment and k•y sour¢•s of ¢$tim•lion un¢•rtainty In Ihe applI￿110n of the company's attouiitiryJ pc4iue$. the thanty is required lo make judgments. esiimateg and assumptions about the carrying amount ol a5sels and liabilrties that are not readily apparent frorn other sources. estimates and assooaled a55urnpiions a￿ based on histori¢al experienr* and olher lactors that are ttfflsdered to be relevant. Adual resuts may Ihese estimates. The estimates and Under￿.ng as5urnpts.ons are on an ongoing bags. Revisions to accounting estimates are ￿￿gnIsed in the pericrtl in the estimate is revised where the revision alfects only Ihat penod, or m the penod of the rew510n and fijture Fenod$ wthere the reVi￿On affects both ￿[rent and future perK)ds. 1.16 P•n5ion The charity operates a defined contnTr)ulion pension scheme ¢)n behalf of rts employees. Contributions are ¢harged to the Statement of Finaraal Activrtie5 in the pen(xY in which they are payab￿. The assets of the stheme a￿ helj separatety from Ih05e glthe ¢harity in an independenuy administered fvnd. 26 WATERLOO ACTION CENTRE NOTES TO THE FINANCIAL STATEMENTS (Conud) FOR THE YEAR ENDED 31 MARCH 2023 2. GRANTS & DChYAnONS UNREsTricfEO RESTRicfED FUNDS F1*4DS TOTAL TOTAL 2(Q3 2022 Phyl & Hughie Charitable Tr￿t Klèma Bank Donation For Welfare 8enefits Euiomonitor Oorothy Isabd'5 Will Good Box tlonations Voodoo Restaurant LUSH Retail CAF Sundry donations < £1, 3.0(Xl 3.￿0 4.250 1.0 i.(KJi 812 812 1.009 291 250 437 291 250 437 564 The grants and donations income in 2023 totallin8 £9.81KI was attribvted to unrestricted funds of £S,791 and restricted funds of £4.￿)9. 27 WATERLOO ACTION CENTRE NOTES TO THE FINANCIAL STATEMENTS (Convd) FOR THE YEAR ENDED 31 MARCH 2023 3. INCOME FROM CHARITABLE ACTivrriES Total 2023 To¢•1 202Z Funds Funds Centre Activlt5es Hall & Room Occupancy charge5 HMRCJRS gcant Government funding lor Organisatitsn5 in Leisure Industry Worshipful Company of Merchant Taylors Larnbeth Estate Re&dents Association Contributions from peopie attending WAC Acrivities Sainsburys Helpin8 Everyone Eat Better Community Grants Fund First MTR South Western Trains LTD 133.143 133.143 81.574 19.361 16,C 7.967 4.ZOI 4.201 3,401 450 Leeal 5er¥fjtes Jone5 Day More Fisher Brown 5.(m S.(￿ 4,(￿) i.￿0 25 Misc 28 WATERLOO ACTION CENTRE NOTES TO THE FINANCIAL STATEMENTS Icontld) FOR THE YEAR ENDED 31 MARCH 2023 OTHER TRAOING ACTivmES Total 2023 Total 2022 Funds Funds 8ri¢4 bra¢sae5 2,Q35 2.738 2.095 2.095 2,r38 Income frorn other tradiry in 2023 t(tsling ￿.095 was all aitn"t*rted to Un￿$triC￿e￿ fijnds. INVESTrIENT Tr4COME iknrestricled R•stricted Fund$ Funds Total 2023 Totsl 2022 Bank interest 2.16S 2,166 2,1e6 2.166 299 Th¢ investsneni incM)e in 2023 tcrtaling £2.166 wa5 all att￿L￿te