2025-03-31-accounts

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Our impact WaterAid Annual Report and Accounts 2024–25

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(Clockwise from top left) Shanbi, Diplabi,
Ganga and Subisha, having a drink of
clean water, Kalitar, Nepal.
WaterAid/ Vivek Vadoliya
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Welcome 4 Our impact 6 Aim 1 Achieve universal, sustainable and safe services and behaviours in focused geographic areas to �� 8 Aim 2 Prioritise water, sanitation and hygiene across the health sector to improve public health 12 Aim 3 Strengthen the resilience of water, sanitation and hygiene to climate change 16 Aim 4 �� 20 Looking forward to 2025–26 24 Your support 26 Financial summary 30	Key policies and processes 32
	How we operate 44
	Independent auditors’ report 53
	Financial statements 57
	�� 61

Strategic report comprises pages 6–26 and 30–46.

Find out more about our latest achievements and the issues facing our work at:

Cover: Students Honorine (left) and Esther (right) collecting clean water from the tap at their primary school in Kayao commune, Burkina Faso. March 2025.

/wateraid @wateraid /wateraid @wateraid

WaterAid UK Annual Report 2024–25 3

�� big challenges affecting the countries where we work. Extreme weather caused by climate �� to a severe heatwave in Pakistan – worsened people’s access to clean water. Political instability in areas such as Africa’s Sahel region threatened to hold up important programmes. �� increase the cost of reaching people. Towards the end of the year, a shift in many donor countries’ attitudes to international aid brought further disruption and uncertainty.

But the UK public’s support for people living without clean water, decent toilets and good hygiene was stronger than ever, despite the cost-of-living crisis at home. Because of your generosity, more taps were turned on, toilets used, and hands washed clean with soap. The life-changing impact of these simple actions cannot be overstated.

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Yanko being washed with clean water by his mum,
Catherine, Namizimbe, Malawi. June 2024. WaterAid/ Sophie Harris-Taylor
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New focus

After two years of transition, 2024–25 was the �� year Global Strategy. This meant our work was focused on four aims:

Achieve universal, sustainable and safe services in focused geographic areas to ��
Prioritise water, sanitation and hygiene across the health sector to improve public health.
Strengthen the resilience of water, sanitation and hygiene to climate change.
Increase the quantity and quality of ��

Having chosen which of these strategic aims to focus on in their contexts, our in-country teams worked to accelerate change and make a bigger impact.

Of course, this new chapter in our journey continued to build on and learn from tried and tested approaches that deliver results. We worked alongside communities, service providers and local governments to build new infrastructure, plan for maintenance and embed healthy behaviours. And we used our reputation ��

Rising up the agenda

In 2024–25, governments and global companies alike made it clear they had got the message.

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WaterAid
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WaterAid/ Katie McCraw
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Andy Green CBE

Tim Wainwright

Regardless of their political and ideological views, none could argue with the fact that improving and securing people’s access to clean water, sanitation and hygiene is worth investing in. The risks of inaction were better understood than ever and the need for change was discussed at the highest level.

At the World Economic Forum Annual Meeting in Davos in January 2025, we were pleased to host President Tharman Shanmugaratnam of Singapore, Co-Chair of the Global Commission on the Economics of Water. He emphasised that safeguarding the global water cycle is in everyone’s interest, and that ending child deaths from unsafe water by 2030 is within our reach. It is this clarity of purpose and collective resolve that we need from leaders around the world.

And at the UN Climate Change Conference (COP) in Baku in November 2024, there was growing awareness of the role of water in international climate action, and progress was made on climate adaptation goals.

Witnessing the challenge, and the impact

Tim: In the summer, I visited our team in Madagascar to learn how climate change was already affecting our work in the south of the island. I saw for myself how rising sea levels were contaminating drinking water sources with saltwater as far as 10km inland. And long-term droughts were making water increasingly scarce. This was evidence of new threats to communities not only without clean water but also those that previously had a reliable supply. It made the need for our work to support communities to increase their resilience to climate change all too clear.

Andy: And in October, fellow trustees and I visited healthcare facilities in Monze, Zambia. We saw how WaterAid has been supporting the staff and patients there by installing essential water supplies and toilet and handwashing services, improving maternal and child health. In Nteme, we saw how drought-resilient water systems were providing clean water not only to the community but also to more than 5,000 livestock. As a result, this work is addressing both health challenges, such as the spread of cholera, and the threats to livelihoods posed by climate change.

A wave of support

In March 2025, HM King Charles III brought together changemakers, young leaders, and decision makers for a Water and Climate Reception with WaterAid at Buckingham Palace. Earlier that day, there were three pivotal roundtables, engaging young activists, private sector leaders, and global leaders to share insights and develop innovative solutions for tackling the water–climate crisis. The Roundtable with Global Leaders was co-hosted by the �� (FCDO). We remain incredibly grateful to our Royal Patron for his support in inspiring people to work together towards our shared goals.

In a year of much uncertainty and instability, we were able to continue making change happen thanks to your unwavering support. With 68% of our income coming from donations and people making the special decision to leave us a gift in their will, we can deliver programmes and make ��

However you choose to support WaterAid, your belief that change starts with water is making a huge difference. Thank you for generously giving your time, energy and money. Together we will reach everyone, everywhere.

Tim Wainwright Chief Executive

Andy Green CBE Chair of Trustees

4 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 5

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Section 1
Our impact
Our
impact
Abdul Rehman, a retired
schoolteacher, can now access
clean drinking water using his
wheelchair in Budhal Phanwar,
Pakistan. May 2025.
Our
global
Delivering services directly
WaterAid/ Arshad Ali
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Our global direct reach

People we directly reached in 2024–25

Institution	Water	Sanitation	Handwashing facilities	Hygiene behaviour change
Household and community	441,387	118,051	240,425	677,832
Healthcare facility	189,064	137,232	158,859	144,951
School	108,028	77,205	78,562	225,649
Public space	10,175	7,392	17,122
Mass media				1,897,669

people with clean water

Our partnerships include...

Wider scale

�� in the countries we worked in

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Hygiene
Institution Water Sanitation Handwashing behaviour
facilities
change
Household and
436,354 727,955 1,239,175
community
Healthcare
11,070 11,556 3,384 21,000
facility
School 13,131 12,950 11,581
Public space 7,000 19,105 7,000
Mass media 236,135
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29.6m

people with decent toilets

31.7m

people with good hygiene

Federation members are listed �� 6 and 7 refer to UK managed activities only.

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WaterAid UK Annual Report 2024–25 7

Section 1 Aim 1

Aim 1

Achieve universal, sustainable and safe services and behaviours in focused geographic areas to influence wider change

Local examples of universal, sustainable and safe services inform �� and towns, we have been working with partners to deliver and improve services for households, schools and healthcare facilities. We have partnered with public, private and non-governmental organisations to strengthen the systems that keep services working and that reinforce hygiene habits. And we have enhanced the voice and representation of service users, especially women and girls.

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Nasima with her daughter, Sadia, and
son, Zahid, in front of their home in
Chattogram, Bangladesh. March 2025.
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WaterAid/ Aritra Ankan Mitra
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Birtukan drinking a glass
of clean water in Berbere
District, Oromia Regional
State, Ethiopia. April 2024.
WaterAid/ Frehiwot Gebrewold
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cleanliness for female users. We promoted women’s ownership of household water �� and service sustainability. And we encouraged men and boys to share responsibility for water collection, toilet maintenance and household hygiene. In two years, the percentage of women participating in CBOs has increased to 66%. Out of 90 CBO presidents, 62 are now women, enabling them to advocate for gender-sensitive services that meet their needs. The project demonstrated that gender-transformative �� and sustainable WASH services.

Breaking barriers to safe toilets for women in Bangladesh

In Bangladesh’s rapidly growing low-income urban communities, women and girls had almost no say in how water, sanitation and hygiene (WASH) services were designed. This is despite them being primarily responsible for water collection, toilet maintenance and household hygiene. Public toilets were often unsafe for women and girls to use, harming their health and dignity. We set out to address this across 90 low income communities in �� Dhaka South City Corporation, Chittagong City Corporation, Khulna City Corporation, and Paikgacha Municipality. In these communities, we facilitated the inclusion of women in governance structures through communitybased organisations (CBOs), leadership training, and appointments as gender equality and social inclusion (GESI) focal points. By promoting women-led management of public sanitation facilities, we helped to improve safety and

Empowering decision makers with data in Ethiopia

Across Ethiopia, data for decision making and budgeting of water, sanitation and hygiene services can be fragmented and inconsistent. As a result, funding and resources are often directed without strong evidence, which can lead to them being used in ways that are

WaterAid UK Annual Report 2024–25 9

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WaterAid/ Frehiwot Gebrewold
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less effective or not well aligned with needs. Through the Future on Tap project in Berbere woreda (district), we conducted a collaborative assessment with service providers and communities on the budgeting process for WASH services. We found that the woreda �� data collection, management and use. We collaborated with the water and energy, health, �� resource a WASH data management system, training staff on data collection and analysis tools. When the data collectors generated reports on key indicators these showed that 26.9% of water schemes were non-functional, 64.8% of users did not pay for water, and 35.2% of water schemes did not have a WASH management committee in place. Budget allocation has now shifted from arbitrary to informed and needs-based allocation. The council has allocated budget to renovate nine water schemes, and 3,400 people have been able to access clean water. Alongside this,

Ametu Adem, a resident of Haro Dumal Town in Berbere district, Ethiopia. May 2025.

we have been working with communities to empower local people to participate in decision making and operation of their services. Having established a functional community feedback system using a score card model, communities can now monitor their joint action points and proactively demand results.

This project was part-funded with UK International Development from the UK government.

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WaterAid/ Frehiwot Gebrewold
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Yenesh Eshetu (left) and Zinash Solomon (right) with the hygiene training materials they use with residents of Berbere district, Ethiopia. November 2024.

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WaterAid/ Ricardo Franco
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Esmeralda Alberto, a member of the savings group at Etatara Health Unit in Niassa Province, Mozambique. October 2023.

Enabling women to invest in toilets in Mozambique

The ability of communities to take ownership of their water and sanitation facilities is important to ensure the sustainability of improved services. But with limited access to funds, investing in new taps and toilets can be out of reach for many people living without them. �� Niassa province we have been empowering women to take control of their sanitation improvements through combining sanitation initiatives with community-based savings and loan groups. This is making women better able to build their own household toilets and improve their family’s hygiene practices. There �� 150 members participating in training on �� savings groups. The groups save each week into three funds – a water fund (for paying water bills and constructing WASH infrastructure), social/ hardship fund (community grants), and business �� September 2024, 1,479 people have constructed 135 toilets, 166 dishracks, 90 waste pits and 30 handwashing facilities, serving 3,780 people with improved sanitation and hygiene.

Planning for a healthier future with local leaders in Madagascar

In Amboasary Sud, Madagascar, the lack of a clear plan for water, sanitation and hygiene left many households, schools and health centres with inadequate services, especially affecting women, children and people with disabilities. The commune’s existing development plan did not prioritise WASH, and coordination among stakeholders was missing. To tackle this, we partnered with local leaders to create a dedicated WASH access plan and set up a multi-stakeholder group. This group brought together government and civil society actors to identify gaps, build planning capacity, and create a shared vision for inclusive services. Their efforts have led to stronger leadership, better coordination, and a more strategic approach to long-term WASH improvements. The project shows that empowering local authorities, fostering collaboration, and creating inclusive governance structures are essential for achieving sustainable progress in public health and development.

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WaterAid/ Ernest Randriarimalala
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Laha Milison Paul with one of his grandchildren, Fitacia, sitting outside their water tap in Anosy region, Madagascar. July 2024.

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WaterAid UK Annual Report 2024–25 11

Section 1 Aim 2

Prioritise water, sanitation and hygiene across the health sector to improve public health

Aim 2

Universal, sustainable and safe water, sanitation and hygiene services and behaviours are essential foundations for human health. We have been working to embed these services and behaviours into health policies and programmes. This includes improving the availability and quality of inclusive and sustainable facilities and making it possible for people to practise good hygiene. Our priority has been the requirements of women and girls, who make up the majority of health service users and health workers.

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WaterAid/ Basile Ouedraogo
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Empowering community health workers in Ghana

�� support, training and protection for community health volunteers (CHVs). These volunteers, many of whom are women, are on the frontline of public health promotion but were working without personal protective equipment (PPE), knowledge of infection prevention and control (IPC), or formal inclusion in the local health system. As a result, the communities relying on these volunteers suffered from weaker hygiene promotion and inconsistent care. Throughout 2024 we worked to address these issues by training the health volunteers, providing them with IPC and waste management tools and resources, and facilitating dialogue between the CHVs and the District Health Management Team (DHMT). The volunteers are now included in community health review meetings and actively requesting resources from the DHMT, which is responding more promptly. We will now be looking to apply this model to other rural districts in Ghana.

Dorcas Asampana, a community health volunteer, cleaning a bed in the Atampiisi Community-based Health Planning and Services Centre, Bongo district, Ghana. May 2025.

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Strengthening local ownership of healthcare WASH services in Malawi

Modester Maulana holding her newborn baby at Nthondo Health Centre, Ntchisi district, Malawi. March 2025.

In the rural district of Ntchisi in Malawi, inadequate water, sanitation and hygiene (WASH) services and behaviours in healthcare facilities were compromising the delivery of safe �� Sambakunsi and Chandawe struggled with an unreliable water supply, a lack of decent toilets and handwashing facilities, and limited waste management. This situation posed serious risks to infection prevention and control, maternal health outcomes, and the overall quality of services. Recognising the urgent need, with funding from the Wimbledon Foundation we launched a four-year WASH in Healthcare Facilities project in September 2023. To ensure improvements would be sustainable, we strengthened health centre management committees (HCMCs) and operations and maintenance structures, partnered with ��

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WaterAid UK Annual Report 2024–25 13

�� health systems, and trained healthcare workers. Following this, we worked with the three health facilities to develop WASH and IPC improvement plans. We also provided essential supplies to ensure these plans could �� the installation of new reliable water services, handwashing facilities, disability-friendly toilets, and incinerators for waste. These developments have improved the environment for healthcare workers and ensured the safety and dignity of more than 19,500 people in the catchment areas.

Transforming rural healthcare in Zambia using hygiene-focused Kutuba Campaign

Siakasipa Rural Health Post struggled to deliver healthcare services, due to severe �� staff member supported by two community health assistants, a general cleaner and a watchman. This limited workforce primarily focused on curative health services, leaving a �� initial water supply, sourced from a borehole, eventually broke down, forcing the staff to

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WaterAid/Alinani Mugala
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fetch water from a school nearly 500m away. The introduction of our Kutuba Hygiene Behaviour Change Campaign in 2019 marked �� behaviour-centred approach fostered active engagement and ownership among community members and healthcare providers. We then expanded the project, promoting good hygiene behaviours, constructing a maternity annex, installing water tanks for running water, and setting up handwashing facilities at the health facility and local school. This was

Putting WASH at the centre of health facility budgets in Uganda

Biira Health Centre III (HCIII) faced major challenges related to limited budget allocations for water, sanitation and hygiene services and a lack of funds for ongoing maintenance. Despite their best efforts, staff could not adhere to infection prevention and control standards because of the �� stations, decent toilets and proper waste management. As such, patients, and the health workers themselves, were at an increased risk of dangerous infections. To improve this situation, we worked with the staff to integrate WASH needs into both their annual work plans and budget submissions. This has resulted in a marked increase in their WASH budget allocations, including budget to connect the maternity ward to the water supply and for upgrades in the laboratory. Infrastructure upgrades have included the installation of colour-coded waste bins, which enhanced waste disposal practices and overall cleanliness of the environment. Importantly, we also provided monitoring support through monthly review meetings with facility managers, keeping improvements on track. Owing to its

followed by the installation of toilets and an outpatient department. Through a strategic partnership, we trained neighbourhood health committees (NHCs) on their roles and responsibilities, empowering them to take an active role in shaping local health services. The transformation of Siakasipa Rural Health Post stands as a testament to resilience, communitydriven progress, and strategic partnerships. It has evolved into a well-equipped healthcare centre capable of addressing the needs of its community.

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WaterAid/ James Kiyimba
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Karim sitting with his grandmother, Edinansi, and drinking a glass of clean water collected from the newly installed water tap at their home in Buyende district, Uganda. May 2024.

improved performance and cleanliness, Biira HCIII has been ranked the top health facility �� (RBF) allocations, putting it in a stronger position to apply for further investment. This is an excellent example of how supporting a healthcare facility to take ownership of its WASH services and behaviours can lead to ��

Melisa Lewanika, environmental health technician, standing in front of Charles Nyirenda (left), the in-charge, and Febby Siangambwa (right), the cleaner, outside Siakasipa Health Facility, Kazungula district, Zambia. December 2023.

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WaterAid UK Annual Report 2024–25 15

Section 1 Aim 3

Aim 3

Strengthen the resilience of water, sanitation and hygiene to climate change

WaterAid increases people’s climate resilience through access to water, sanitation and hygiene, while ensuring our interventions can withstand and quickly recover from extreme weather. We have been supporting communities, institutions and service providers to assess climate vulnerabilities and develop solutions to improve water security. At the same time, we have been advocating for water, sanitation and hygiene and climate policy to be integrated and for urgent investment in climate-resilient services.

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Khokon Kanti Nath examining
a water sample that has
reacted with a testing reagent,
in Chattogram, Bangladesh.
March 2025.
WaterAid/ Aritra Ankan Mitra
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Building the resilience and equity of water services in coastal Bangladesh

In the southwest coastal belt of Bangladesh, rising sea levels, shrimp farming and frequent cyclones contaminate groundwater. This leaves communities reliant on unreliable and unsafe water sources. Women and girls, typically responsible for water collection, are most affected. With support from Severn Trent Water, in Assasuni, a low-lying coastal part of Satkhira district in Khulna division, we introduced the Water Entrepreneurship for Women’s Empowerment (WE-WE) initiative, installing

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Abu Bakar Siddique, 62, lifting the lid and inspecting the
��
WaterAid/ Aritra Ankan Mitra Assasuni, Satkhira, Bangladesh, January 2025.
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Chandana Rani collecting water in a jug from the
reverse osmosis plant in Borokuput, Shyamnagar,
WaterAid/ Fabeha Monir Bangladesh. June 2023.
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reverse osmosis water treatment plants and training women to operate and maintain them. This has resulted in improved access to clean and affordable drinking water and reclaimed time for women, enabling them to pursue education, livelihoods and leadership roles. As part of the initiative, WaterAid championed women’s leadership in water governance, supporting them to become entrepreneurs and role models within their communities. This has not only improved access to water and increased people’s resilience against the impacts of climate change but also addressed deeper social inequalities, resulting in more resilient and equitable systems.

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Rita Munda, 36, holds a glass of clean water collected
from the newly installed rainwater harvesting (RWH)
system in Bhetkhali, part of the Munda community. WaterAid/ Aritra Ankan Mitra
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WaterAid UK Annual Report 2024–25 17

Strengthening Smart Cities in Uganda

In Uganda, we have been working to improve the quality and sustainability of water, sanitation and hygiene (WASH) services for the urban poor while building people’s climate resilience. We implemented the WASH for Smart Cities initiative in Mbale City, one of the 11 districts in Uganda most vulnerable to �� focused on six informal urban settlements and several schools, healthcare facilities and public places. With our partners, we installed solar-powered water pumps, built climate-resilient biogas toilets in schools, and carried out hygiene campaigns. We worked with latrine pit emptiers to ensure sanitation facilities are emptied �� contamination of water sources and communities and reducing the risk of a public health emergency. Following the introduction of these climate-resilient WASH measures, there has been a �� diseases. Enrolment has increased across the eight targeted schools, service and use of healthcare facilities such as maternity wards has improved, and institutions’ water bills have decreased thanks to the use of renewable energy sources. By supporting the authorities to develop a WASH investment plan that prioritises climate-resilient interventions and convening a City WASH Coordination Forum for improved cross-department collaboration, we have helped to build the city’s capacity to adapt to and deal with the impacts of climate change.

Ludphin standing on the bridge drainage system near the Mandrare river at the Jirama pumping station in Amboasary Atsimo commune, Anosy region, Madagascar. July 2024.

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WaterAid/ Ernest Randriarimalala
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A woman and her son walking in Sambava district, Madagascar. October 2024.

Adding WASH to climate policies in Madagascar

For a long time, the water, sanitation and hygiene sector in Madagascar operated on the sidelines of national climate policy discussions. This marginalisation had tangible consequences: WASH projects were missing in �� reach, and the most vulnerable communities were left without sustainable solutions to the increasing impacts of climate change on their �� opportunity for change with the development of the third Nationally Determined Contributions (NDC3), the country’s main planning framework for climate action. We initiated the creation of the Climate Change Coalition in the WASH �� key WASH actors in close collaboration with government authorities. We worked together to identify capacity gaps within ministries and strengthened decision makers’ understanding of the intersection between WASH and climate change. In a second phase, we took the bold �� NDC, gaining an unprecedented opportunity to integrate WASH priorities into the new national climate policy. During the COP29 climate change conference in November 2024, the Ministry of Environment publicly committed to including WASH in the upcoming NDC3.

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WaterAid/ Ernest Randriarimalala
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Yvonne Miza Rasoarivony,
carrying one of her grandchildren
outside their home in Anosy
region, Madagascar. July 2024.
WaterAid/ Ernest Randriarimalala
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Section 1 Aim 4

Aim 4 Increase the quantity and quality of financing

�� is essential to ensure universal, sustainable and safe services. We have �� including more affordable services for low-income users. We have also ��

Nathalie, Rihanata, Sonia and Wendkouni (left to right) enjoying the clean water in the garden at their primary school in Kayao commune, Burkina Faso. March 2025.

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WaterAid/ Basile Ouedraogo
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Isidore Nana, teacher and the school principal, teaching students in the CP2 Class (the second year), at primary school, in the district of Namanegbzoe within the village of Singdin, commune of Kayao, Burkina Faso, March 2025.

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Adapting advocacy approaches in Burkina Faso

�� for water, sanitation and hygiene (WASH) in Burkina Faso, we have adapted our advocacy approaches and sought new partners to make a bigger impact. Strengthening collaboration with the General Directorate of Sanitation has �� government’s adoption and implementation of the Safely Managed Sanitation approach. We signed a collaboration agreement with the Permanent Secretariat of the National Council for Sustainable Development and together developed a joint action plan to help the government prioritise WASH in its climate policies. We strengthened our partnership with the network of parliamentarians for drinking water, sanitation and hygiene and youth organisations on WASH and climate change. This contributed to the government’s prioritisation of WASH in the state budget – the share allocated to sanitation increased by more than 30% in 2025 compared with 2024. We have also been collaborating with parliamentarians

Bibata Fofana, a student, holding a cup of clean water at the newly installed borehole at her secondary school in Boucle du Mouhoun region, Burkina Faso. November 2024.

WaterAid UK Annual Report 2024–25 21

and youth organisations to support the national contribution to regional and global advocacy, such as the campaign to increase the budget allocation to WASH in climate programmes at COP29 in Baku.

Story of challenge: The struggle for sustainable sanitation ��

For many years, we have been calling for increased budgetary allocation to sanitation in Zambia’s national budget to accelerate progress towards the national target of 90% coverage by 2030. The cost of hitting this target is estimated to be at least 4 billion Zambian Kwacha (approximately £121 million) per year. However, the 2025 national budget only allocated less than ZK2 billion (£48 million). While sanitation funding increased from ZK579 million (£17 million) in 2023 to ZK714 million (£21 million) in 2025, this remains inadequate. There are several obstacles to overcome to �� framework for on-site sanitation, making it �� quality. Additionally, there is a lack of private sector involvement and investment in sanitation owing to a lack of clarity on the return on investment. Finally, the implementing ministry faces bottlenecks in delivering on its allocated budget – low budget absorption capacity; limited design, implementation and monitoring systems; and dependence on donors. We are working to solve these challenges by advocating for increased budget allocation for service delivery and human resources, advocating for timely disbursements of budgets, and supporting sector coordination to improve ��

Decentralising funding decisions in Zambia

Decentralising water, sanitation and hygiene �� the national government to the subnational (district) level through the Constituency Development Fund (CDF) has led to more

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WaterAid/ Cian Oba-Smith
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Josephine Zaka standing outside her pit latrine, holding a bucket of water and brush for cleaning it with, in Sylvia Masebo, Lusaka, Zambia. November 2024.

effective and sustainable service delivery in �� (including budgets) was largely centralised, leading to a mismatch between allocated resources and community needs. Together with other stakeholders, we used evidence and government engagement to call for local governments and communities to have more control over these critical decisions. We helped to train community leaders and WASH committees �� guidelines on participatory planning, and facilitated inclusive dialogues where communities could voice their WASH priorities. This work ��

�� Malawi’s healthcare facilities

Across Malawi, public healthcare facilities lack basic water, sanitation and hygiene services. The consequences of this underfunding affect both

staff and patients, most of whom are women. �� not just in broken infrastructure, but in broken �� our partners, we carried out targeted advocacy work focused on increasing government investment. We analysed budgets to identify funding gaps and track how funds were being spent, using this as evidence to engage stakeholders in addressing this public health emergency. We contributed to the establishment of Direct Facility Financing, allowing health centres to receive direct funding for operations and maintenance. And we supported district councils to articulate their investment needs and request workable budgets. The national WASH budget increased by 54% to ZK202 billion (approximately £84 million) in 2024–25, followed by a 39% rise to ZK284.9 billion (£119 million) in 2025–26, representing 3.5% of the �� will. The Ministry of Health has expanded the implementation of Direct Facility Financing from one pilot to 13 districts. This will bring more than an improvement in service quality – a fundamental restoration of dignity and safety in local healthcare.

Resilient Water Accelerator

In July 2024, the Resilient Water Accelerator (RWA), an initiative hosted by WaterAid since 2020, was awarded a four-year, £11 million grant from FCDO, as part of the wider £39 million

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WaterAid/ Dennis Lupenga
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Josefe Lyitoni, 46, Steve Phiri, 38, cleaning toilets, Nthondo Health centre, Ntchisi district, March 2025.

Just Transitions for Water Security programme. RWA works to identify investment models and deal structures which strengthen water and climate resilience in emerging markets and developing economies while also delivering �� year, RWA worked in Bangladesh and Nigeria. Work in Bangladesh has included a focus on the garment sector, which is driving a demand in industrial water use, engaging with different stakeholders, including global brands and �� RWA established the Lagos Water Partnership �� developing a pipeline of investable projects.

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WaterAid/ Dennis Lupenga
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Trinity Mbewe at the Kangolwa Health Centre in Ntchisi district, Malawi. March 2025.

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WaterAid UK Annual Report 2024–25 23

Looking forward to 2025–26

be replicated nationally for an even bigger impact. We will use our advocacy and general �� for increased allocation and effective use of �� to achieve our Aim 4 outcome in relevant Aim 1 focus countries.

In the year ahead, we will continue to implement our ambitious new global strategy. As in 2024–25, we will work towards four strategic aims, with our country teams choosing to focus on aims that have the biggest potential for change in their national context. This exciting development in our approach will speed up progress towards our vision – a world where everyone, everywhere has sustainable and safe water, sanitation and hygiene.

�� the UN Water Envoy and UN Water conference. And we will work to build the political will of national governments to prioritise their WASH commitments as part of the Heads of States Initiative (HOSI).

Aim 1: Achieve universal, sustainable and safe services in focused geographic areas to ��

Focus countries: Ethiopia, Liberia, Malawi, Nepal, Nigeria, Rwanda

We will increase access to clean water, decent toilets and good hygiene in selected focus districts across the countries where we work. Collaborating with local government, we will develop costed plans and use these to advocate for increased budgets allocated to water, sanitation and hygiene (WASH). These regional projects will serve as service models that can

Aim 2: Prioritise water, sanitation and hygiene across the health sector to improve public health

We will increase access to water, sanitation and hygiene services in healthcare facilities in countries where we work through modelling effective approaches and ensuring clear road maps are built into National Health Plans. We �� healthcare facilities and advocate for increased funding in healthcare budgets.

----- Start of picture text -----
Maricela Arpushana
in Buenos Aires, La
Guajira, Colombia.
July 2024.
WaterAid/ Keoma Zec
----- End of picture text -----

�� the implementation of the G20 Call to Action on Strengthening Action on Drinking Water, Sanitation and Hygiene Services. And we will work to back the implementation of the UN resolution on WASH in healthcare facilities by national governments.

Focus countries: Ghana, Malawi, Mali, Nepal, Pakistan, Tanzania, Uganda, Zambia

Dricia (left) and her best friend Franca �� plantation in Andrahanjo commune, Madagascar. October 2024.

Aim 3: Strengthen the resilience of water, sanitation and hygiene to climate change

We will work with governments to strengthen planning for water, sanitation and hygiene in their National Action Plans and Nationally Determined Contributions. We will develop and share climate-resilient WASH models and work �� crucial for community resilience.

At the global level, we will facilitate the development of the Principles for a Just Water Partnership and launch them at COP30. We will support countries to integrate WASH into their Development Plans. And we will work with businesses to integrate elements of the Corporate WASH Roadmap.

Focus countries: Bangladesh, Ethiopia, Ghana, Madagascar, Mozambique, Nigeria, Pakistan, Uganda

Aim 4: Increase the quantity ��

Across countries where we work, we will attempt to bring about a meaningful increase in allocations to water, sanitation and hygiene budgets, and we will drive the use of budget tracking tools and accountability mechanisms. �� identifying priorities and promoting them at global and national levels, and identifying and �� and/or private).

Focus countries: Bangladesh, Burkina Faso, Ethiopia, Ghana, Liberia, Madagascar, Malawi, Nepal, Nigeria, Rwanda, Zambia

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WaterAid/ Ernest Randriarimalala
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In 2025–26 we will have two Global Advocacy Priorities:

Health

To improve water, sanitation and hygiene services in healthcare facilities we will advance implementation of the G20 Call to Action on Strengthening Drinking Water, Sanitation and Hygiene Services (linked to the UN resolution on WASH in healthcare facilities) through work with the South Africa government, the G20 Presidency and key G20 Member States. We will drive national government implementation of the UN resolution on WASH in Healthcare Facilities and delivery of the G20 Call to Action by working in-country to support national campaigns.

Climate

To improve the resilience of water, sanitation and hygiene services in the face of climate change, we will work with countries to integrate high-quality WASH planning and commitments into their National Action Plans and Nationally Determined Contributions. We will launch a set of comprehensive principles and a framework for a Just Water Partnership at COP30 and seek the endorsement of stakeholders. And we will �� Roadmap and advocate for their uptake by businesses.

Inspired by our plans for the year ahead? Find out how you can support us at wateraid.org/uk/get-involved

24 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 25

Section 1 Your support

Our wonderful supporters

In 2024–25 we did so much together to support people across the world to stay healthy, get an education, earn a living and unlock their potential. Everything we do is made possible by you sharing our vision of a world where everyone, everywhere has clean water, decent toilets and good hygiene.

Belu Water

Social enterprise Belu Water has partnered with WaterAid since 2011, and this year celebrated the milestone of donating over £6 million to support our work. By donating 100% of its net �� example, proving that by aligning purpose and �� have a transformative global impact. We are so proud of our unique partnership.

Whether you have supported WaterAid �� partnering with us, or by campaigning – THANK YOU.

Jill Hiatt

Here are just some of the people and organisations that have been part of the WaterAid team this year.

Known locally as ‘The WaterAid Lady’, Jill has been selling her hand-made cards for WaterAid for over 20 years. In doing so, she has raised more than £30,000! Jill has also featured in her local newspaper and on BBC radio, helping to raise awareness and inspire many more people to support WaterAid. We thank Jill for her fantastic commitment to standing alongside those without clean water and changing lives.

Trailblazers

The Trailblazers programme, launched by the Wessex Water WaterAid Committee, empowers staff to gain project management experience by delivering their own fundraising event. One inspiring team, taking a cue from Race Across the World, created Race Across Wessex. Teams �� across the region, using maps and teamwork �� friends and colleagues, the team smashed their £5,000 target, raising an incredible £16,046 for WaterAid. A huge thank you to everyone involved!

Armani beauty

Armani beauty has been a WaterAid partner since 2018, investing over €4.6 million to date. In this time, the global clean water initiative Acqua for Life has supported 16 WaterAid projects across 11 countries. In 2025 WaterAid, along with other implementing partners, are proud to help �� providing clean water for over 1 million people, ��

Glastonbury Festival

In 2024 we marked 30 years of our partnership with Emily and Michael Eavis and all the team at Glastonbury Festival. Over the years, we’ve delivered clean water, sanitation and hygiene services to support the running of the festival. Since the partnership began, we’ve raised over £5 million, and thousands of festival goers have WaterAid added their voices to our campaigns.

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WaterAid/ Oliver Dixon
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Volunteers at Glastonbury Festival. June 2024.

��

�� who kindly volunteered with WaterAid for more than a decade. In this time, retired teacher Dave has delivered more than 270 talks and workshops and always received excellent feedback from groups across Wales.

�� at the National Volunteers’ Week 2022 Speaker Network Thank You Event in London. June 2022.

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WaterAid/ Oliver Dixon
----- End of picture text -----

People’s Postcode Lottery

Players of People’s Postcode Lottery have supported our work since 2013, standing with us for over a decade as we change the world through water. In 2024–25, players raised an incredible £3 million to support our mission. The �� to players of People’s Postcode Lottery is truly transformational. It helps people around the world to shape their own future with dignity and �� Funds are awarded by Postcode Global Trust.

----- Start of picture text -----
WaterAid/ Oliver Dixon
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The WaterAid Garden at RHS Chelsea Flower Show. May 2024.

RHS Chelsea Flower Show

Thanks to sponsorship from the grant-making charity Project Giving Back, we were lucky enough to exhibit The WaterAid Garden at last year’s show. This was an opportunity to highlight that the climate crisis is a water crisis. We collaborated with award-winning landscape designer Tom Massey and celebrated architect Je Ahn. It was a huge hit, winning an RHS Gold Medal and praise from HM King Charles III. The �� Viaduct, a National Trust sky park in Manchester and is expected to open in 2026.

David Holman

David Holman left a generous gift to WaterAid in his will, a decision rooted in a life shaped by compassion, creativity and purpose. A celebrated children’s playwright, David dedicated his work to themes of justice and empowerment. He chose WaterAid after careful thought, knowing clean water is a basic human right that transforms children’s lives and creates �� lifelong belief in giving quietly but meaningfully. David never sought recognition in his lifetime; he simply believed it was the right thing to do. We sincerely thank David, his partner Deborah, and every supporter who has chosen to make this special life-changing gift.

26 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 27

Companies and partners

AB InBev Foundation
Armani beauty
Belu Water Ltd
Diageo Plc
DP World
European Society of Clinical Microbiology and Infectious Diseases (ESCMID)
GSK
Hogan Lovells
IHS Towers
Kimberly-Clark
Liquid I.V.
Sulzer
Wimbledon Foundation

Philanthropists, trusts and foundations

Allan & Nesta Ferguson Charitable Trust
Arab Gulf Programme for Development – AGFUND
Band Aid Charitable Trust
Barzilai Foundation Trust
Fondation Prince Albert II de Monaco
Jersey Overseas Aid and the people of Jersey
Lord Howard and Lady Jennifer Leigh of Hurley
Medicor Foundation
Mr Angus Vassie
Players of People’s Postcode Lottery

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WaterAid/ Lee-Ann Olwage
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Martha Ralulimi in Mamburu community, Limpopo province, South Africa. April 2025.

• ShareGift

Stiftung Drittes Millennium
Tetra Laval
The Alchemy Foundation
The Constance Travis Charitable Trust
The Georg and Emily von Opel Foundation
The Reo Stakis Charitable Foundation
The Waterloo Foundation
The Zochonis Charitable Trust

Legacy givers

Everyone who made the special decision to leave a gift in their will.

Individual and community supporters

Angela Stone
Bruce Knight
Connor Blundell
Dave Trenery
Geoff and Annie Hartwright
Hayley Woof
Helen Chadwick
High Ham C of E Primary School
Lions Clubs
Matthew Beal
Melissa Purdy
Richard Frostrick
Rotary Clubs of Great Britain and Ireland
Sara Wilmut
Sarah Houldcroft
Sing for Water Choirs
Sonja Healy
Steve Cheshire
Totally Thames Festival
Year 9 Pupils of Bredon School

Faith-based communities

We are deeply grateful to the individuals and communities who contributed to our mission through their faith-based giving.

Zakat contributors

Sincere thank you to everyone who contributed their Zakat, upholding a key pillar of Islamic giving and enabling people to live with better health and dignity.

Church donors

We gratefully acknowledge the compassion and commitment to service of churches and congregants whose donations have made a lasting impact.

Volunteers

All our volunteers who supported our work through the Speaker Network, Local Groups, at festivals, at school, university or the workplace, and beyond.

Institutional fundraising

Adaptation Fund
Austrian Development Agency (ADA)
Cummins
European Commission
Foreign, Commonwealth and Development ��
Global Center on Adaptation (GCA)
Government of Ethiopia
Japanese International Cooperation Agency (JICA)
KFW Development Bank
London School of Hygiene and Tropical Medicine
Punjab Rural Municipality Services Company
Swedish International Development Agency (SIDA)
Swiss Agency for Development and Cooperation
UNICEF

UK water industry staff, supply chain and customers of:

��
Anglian Water Alliance partners – Beacon Project
Anglian Water Services Ltd
Bournemouth Water
Bristol Water Plc
��
Environment Agency
Essex and Suffolk Water
Northern Ireland Water
Northumbrian Water Ltd
Scottish Government International Development Fund
Scottish Water
SES Water
Severn Trent
South East Water
South Staffs Water
South West Water
Southern Water
Thames Water
Wessex Water
Yorkshire Water

28 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 29

Financial summary

Unrestricted funds

Income

�� of £4.6m, which was lower than planned due to additional income which reduced our general income fund at the end of March 2025 to £19m (2024: £22m). This is above the target range of £13m to £17m which we will draw on to manage future risks and to invest in our strategic �� year. Designated funds currently consist of the Fixed Asset Fund of £3m (2024: £5m) which represents the estimated cost of replacing our �� can be found on page 42.

Total income in 2024–25 was 1% higher compared with the prior year driven mainly by increased income from legacy gifts. Income from our water industry partnerships also increased. Grants of a general nature and donations from community events and faith groups remained steady. We are immensely proud and grateful for the continued generosity of our supporters, especially during times of economic uncertainty. This directly impacts on our ability to respond to �� currently being experienced in the countries where we work. We have seen a decrease in income from corporate partnerships and �� of bigger projects coming to an end during the year and new projects just launching. The stop work order relating to USAID funding affected seven of the countries where we work. This represented a risk to income for 2024-25 of �� discontinuation of funding for these projects by USAID for future years.

Restricted funds

Restricted funds of £12m (2024: £12m) represent �� expressed by the donor. Expenditure is charged �� donor contract. The trustees have no discretion to allocate the funds to any other use.

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Individual supporters
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£55.7m

Corporate partnerships and trusts

£15m

----- Start of picture text -----
Other WaterAid Total income
member countries
£9.7m £92.1m
Governments and
other institutions
£10.3m
Other income
£1.4m
----- End of picture text -----

----- Start of picture text -----
In every £1
spent, 72p went
on delivering
services and
making change
happen and
28p went on
fundraising and
governance.
----- End of picture text -----

Expenditure

�� in a number of local currencies where we work, making it cheaper to deliver our progammes in GBP terms. It is also due to some funding contracts ending and not being renewed, most notably due to the the USAID stop work order.

Total expenditure increased by 3% on the previous year. The increase in expenditure was due to planned investments in policy and campaign activities and investing in strategic partnerships and other members to secure future funding. The decrease seen in the spend on delivering water, sanitation and hygiene is

Fundraising

27%

Supporting partners to deliver water, sanitation and hygiene

28%

----- Start of picture text -----
Total
expenditure
£97m
----- End of picture text -----

Strengthening national and local capacity to deliver services 23%

�� and hygiene

16%

Supporting WaterAid globally 6%

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Income and expenditure 2020–2025
2020/21 2021/22 2022/23 2023/24 2024/25
Income Expenditure
£90m £92m £95m £96m £91m £94m £92m £97m
£85m £85m
----- End of picture text -----

Fund balances

At the end of March 2025, the closing total charity funds were £34m (2024: £39m), made up of the following:

----- Start of picture text -----
£19m
General funds
£3m
��
£12m
Restricted funds
----- End of picture text -----

30 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 31

Our values

�� across the many countries in which we work. They are at the very heart of WaterAid – who we are, what we do and how we do it.

Respect We treat everyone with dignity and respect, and champion the rights and contribution of all to achieve a fairer world.

Accountability We are accountable to those we work with and to those who support us.

Courage We are bold and inspiring in our actions and words, and uncompromising in our determination to pursue our mission.

Collaboration We work with others to maximise our impact, embracing diversity and difference in the pursuit of common goals.

Innovation We are creative and agile, always learning, and prepared to take risks to accelerate change.

Integrity We act with honesty and conviction, and our actions are consistent with openness, equality and human rights.

Safeguarding

Our commitment

We are committed to the safeguarding and wellbeing of all individuals, from the people in the communities where we work, to our staff, volunteers, contractors and partners. We have zero tolerance for the abuse of power, privilege or trust, or any form of inappropriate behaviour, discrimination, abuse, harassment or exploitation of any kind.

All representatives of WaterAid – our staff, volunteers, contractors and partners – commit to our �� which sets out our high standards of expected behaviour, and outlines the consequences if these standards

are not met. This Global Code of Conduct was reviewed and updated this year to ensure it remains relevant and adheres to sector best practice standards.

Safeguarding activity

All reports of misconduct are fully investigated by trained staff, following WaterAid’s survivorcentred approach, and appropriate actions are taken to protect and safeguard everyone involved. WaterAid has zero tolerance towards inaction.

In 2024–25, our Global Safeguarding Team received 61 reports from across the WaterAid Federation. 50 of these related to the UK or UK country programmes. All reports are reviewed centrally by our Global Safeguarding Team; some may be assessed as non-safeguarding issues and passed to other departments.

----- Start of picture text -----
Safeguarding reports 2024–25 Total
Resolved 48
Referred internally to another team for 12
further action
Referred to statutory services 3
Received advice from the Global 14
Safeguarding Team
Received appropriate mitigation 10
measures
Safeguarding learning review 1
conducted
Reported to the Charity Commission 1
and security learning review conducted
WaterAid safeguarding investigation 7
completed
Open with actions underway 13
Reports received from across the 61
WaterAid Federation
----- End of picture text -----

Seven reports led to a full safeguarding investigation relating to sexual harassment, sexual abuse, domestic abuse, organisational misconduct, inappropriate behaviour or physical abuse. Four members of staff were dismissed and one case was reported to the Charity Commission which agreed with our investigation, outcome and recommendations. Three cases led to individual action plans, training recommendations, improved security measures and enhanced awareness of safeguarding, family violence and gender sensitisation.

This year we have seen an encouraging 30% �� conscious and growing engagement with partners and communities. However, given the scale or our operations and partnerships, and the challenging contexts in which we work, we recognise there is likely to be a degree of underreporting. We remain dedicated to strengthening and improving reporting with partners and the communities we work with.

Governance

Each WaterAid Federation member has a safeguarding lead trustee who ensures WaterAid boards deliver on their safeguarding responsibilities. These trustees form WaterAid’s Safeguarding Community of Practice Group, meeting twice a year to ensure effective safeguarding governance across the federation.

Our Global Safeguarding Director provides written reports to all WaterAid boards, attends the WaterAid UK Board meetings, and liaises regularly with senior stakeholders, safeguarding trustees, and the chairs of each WaterAid board.

All WaterAid trustees complete safeguarding training online and in person every two years.

�� full-time members of staff who are globally �� which we work, ensuring safeguarding is adequately resourced across the federation.

Training and awareness

Our global network of 66 Safeguarding Focal Points across 30 countries play a key role in advancing and strengthening our safeguarding work. They deliver training to staff, partners, contractors and consultants, and work closely with government partners and communities to integrate safeguarding at every level of our engagement. This collaborative approach is strengthened through community engagement, placing communities at the centre of safeguarding efforts through inclusive, culturally grounded practices and continuous engagement.

In Mali, Safeguarding Focal Points launched a pilot in eight villages to train eight community safeguarding champions to lead awareness initiatives and promote safeguarding policies, procedures and commitments in their communities. In the UK, Safeguarding Focal Points have integrated WaterAid’s Representation in Communications Policy into safeguarding inductions and established a network of champions with expertise in representing the communities we work with accurately, respectfully and collaboratively in our external communications. This importantly demonstrates the effective integration of safeguarding into all aspects of WaterAid’s work.

WaterAid’s Safeguarding Focal Points have trained 1,419 staff and 5,549 partner staff and community members during the year. The Global Safeguarding Team trained 699 individuals and delivered seven support visits to Cambodia, Colombia, Ghana, Malawi, Nigeria, Niger, Pakistan and the US.

We produced a new �� to raise safeguarding awareness and demonstrate our accountability.

In February 2025 we celebrated Safer WaterAid Week across the federation with activities to raise safeguarding awareness and foster cross-team learning. This featured discussions on integrating safeguarding into daily actions and interactions and an immersive case study, �� strong safeguarding culture.

32 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 33

Strengthening the sector

WaterAid values the collaborative efforts of the international development sector in strengthening safeguarding knowledge. We are actively involved in local safeguarding networks and our Global Safeguarding Director sits on the Bond Safeguarding Steering Group for the UK. Our Senior Global Safeguarding Specialist is part of peer investigation groups, and our Community Engagement Adviser sits on safeguarding network panels within West Africa.

WaterAid is a member of the ��

�� , ensuring more transparency of data across the international development and humanitarian sector. WaterAid also follows the �� throughout our work and is a counter signatory.

For more information, please see our �� .

Modern slavery

Our full Modern Slavery Statement is available at �� . It outlines our commitment and coordinated action in relation to the Modern Slavery Act 2015 in respect of our policies for staff and partners, and our operations and supply chains. During the year, we continued to strengthen our community safeguarding awareness and engagement activities through a dedicated Community Safeguarding Engagement Adviser post. This will ensure those we work with are empowered in accessing and claiming their safeguarding rights. Any concerns around �� recorded and dealt with through safeguarding procedures.

During 2024–25, no safeguarding concerns about modern slavery were reported.

Diversity, equity and empowerment

We are passionately committed to being an organisation where everyone is welcome and included and where differences are valued. We seek to represent and celebrate the diversity of our staff, partners and everyone we work with, and create a culture where everyone can feel safe, reach their full potential and bring their unique and valuable contribution. We are dedicated to achieving the highest standards of diversity, equity and inclusion and welcome people of all backgrounds, beliefs, customs, traditions and ways of life to work with us.

We emphasise global unity, personal growth and collective efforts to end the water, sanitation and hygiene (WASH) crisis. Increasingly, we challenge our own assumptions and practices as an organisation to remove internal power imbalances and inequalities that get in the way of us achieving our mission.

Our diversity, equity and empowerment commitments

The rich diversity of experiences and perspectives of our people, partners and the communities we work with are crucial to the sustainable achievement of our mission. Every WaterAider plays a role in delivering four commitments to diversity, equity and empowerment:

We will continually strengthen our individual and collective understanding, allyship and action, and learn from the knowledge and expertise of our staff closest to the water, sanitation and hygiene challenges we seek to overcome.
We will ensure inclusive practices in all areas of our programme, policy, advocacy, fundraising, communications, people, ��
We will ensure that we are mission-centric in our organisational design, resourcing and partnerships, and our structures, systems, processes and approaches empower and ��
Our communications will be inclusive and respectful, representing our people, communities and supporters in an accurate, authentic and consensual way that is free from bias.

Activity

Our Global Power and Diversity Steering Group, made up of representatives from across the WaterAid Federation, champions our four commitments and oversees actions being taken to deliver against these.

We continue to improve the representation and diversity of staff from all parts of our organisation in strategic decision making for maximum impact. Inclusive leadership is part of our groundbreaking Accelerate to 2030 leadership programme and a number of roles.

The Executive Directors Team extends its membership for its monthly meetings to include three senior leaders from our country or regional teams. The WaterAid Board has a lead Trustee for diversity, equity and empowerment and we aim to maintain a Board with a gender balance and at least 40% representation from global majority ethnic backgrounds.

More than 950 WaterAiders have attended workshops exploring the power we hold within ourselves and how we leverage our personal power. Learning modules on diversity and gender have been developed and piloted with our teams in South Asia.

Our People Team implemented a new structure, where people services are primarily provided locally and local people teams own and lead the people agenda. To ensure further localisation of our work, 21 country directors contributed to an exploratory discussion of what localisation means in their context.

34 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 35

�� objectives to enable the delivery of our diversity, equity and empowerment commitments in their own contexts. We have representation guidelines and a language guide to ensure our external communications are accurate and authentic, and respect and protect the people we work with.

In the UK, we have staff-led employee groups supporting neurodiversity, LGBTQ+ colleagues, and colleagues with a global ethnicity majority �� encourage staff to develop to match their circumstances and aspirations.

In East Africa, teams took part in an assessment on gender equality and social inclusion and produced recommendations focusing on achieving gender balance and standards for family leave, accessibility and menstrual health management.

75 staff in South Asia took part in a gender sensitivity workshop to promote a gender inclusive and equitable workplace culture, facilitated by a group of gender focal points. Countries within this region developed gender training plans for senior managers and new staff. Provisions for family leave, family-friendly work environments, and guidance for returning mothers were updated and women’s forums have been established.

In the UK, training was given to hiring managers

on how to address prejudice and bias in recruitment, and policies are in place to ensure candidates, existing staff and volunteers have equal opportunities to succeed. More than 80 people contributed to meaningful conversations on inclusion and lived experience to help staff understand the accountability every person holds in creating an environment where all WaterAiders can thrive and feel supported to deliver our vision. Staff were also invited to a webinar to understand our �� information.

Managing risk

We have an active risk management process in place ensuring appropriate steps are taken to identify, monitor and manage risks across the organisation.

For WaterAid to achieve our vision of a world where everyone, everywhere has sustainable and safe water, sanitation and hygiene it is necessary for us to take managed risks and to capitalise on opportunities.

WaterAid is risk averse when it comes to the protection of our reputation and the safety of communities, volunteers and staff, so will seek to minimise risk in these areas, but has a greater risk appetite for taking managed risks when investing in our work and developing the organisation to have a greater impact.

Roles and responsibilities for managing risk

Board of Trustees	• Statutory responsibility for risk management with day-to-day risk management delegated to the Executive Directors Team • �� their consequences, that risks are being monitored and managed, and that risks are reviewed regularly • ‘Deep dive’ sessions and discussion of emerging risks as needed
Audit & Risk Committee of the Board	• Oversight of the risk management policy and process, including the internal control �� • Monitors the adequacy and effectiveness of internal controls on behalf of the Board and approves internal and external audit plans • ��
Executive Directors Team	• Implementation of the Risk Management Framework • Prepares Entity Risk Management Plan • Drive for continuous improvement in risk management

Board of Trustees	• Statutory responsibility for risk management with day-to-day risk management delegated to the Executive Directors Team • �� their consequences, that risks are being monitored and managed, and that risks are reviewed regularly • ‘Deep dive’ sessions and discussion of emerging risks as needed
Audit & Risk Committee of the Board	• Oversight of the risk management policy and process, including the internal control �� • Monitors the adequacy and effectiveness of internal controls on behalf of the Board and approves internal and external audit plans • ��
Executive Directors Team	• Implementation of the Risk Management Framework • Prepares Entity Risk Management Plan • Drive for continuous improvement in risk management

Principal risks and uncertainties

The table below sets out the principal risks monitored by the Board of Trustees, and how the risks were addressed over the course of the year.

----- Start of picture text -----
Risk Mitigations
Geopolitical uncertainty • Immediate compliance with USAID’s Stop Work Order.
Rapidly changing global and national • ��
contexts could negatively affect our circumstances.
ability to achieve strategic objectives.
• Close cooperation with key partners.
��
resilience of our partners due to the • Diversity of fundraising sources and a focus on innovation,
reduction in overseas aid and the testing and learning.
continuing cost of living crisis.
• Close monitoring of spend against budget and impacts of
��
��
foreign exchange volatility.
Health, safety and security • Global security framework, policies, and reporting
mechanisms in place.
Risk of harm to people we work with and
for. • Risk-based training in place for staff, including in crisis
response.
Safeguarding • Global safeguarding framework, policies and reporting
mechanisms in place.
Risk of harm to people we work with and
for. • Full staff, consultant, volunteer and trustee mandatory
safeguarding training.
----- End of picture text -----

36 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 37

Cyber security • Cyber security and data protection functions in place to embed policies and procedures.

Critical cyber-attack could take down our systems, resulting in loss of sensitive data, GDPR breaches and/or substantial �� reputational damage.

Mandatory training for all staff on cyber security and data protection.
Systems in place to detect unusual activity on our network.
Cyber Essentials accredited.
Staff sentiment monitored through our Global Employee Engagement Surveys.

People

The ability to recruit, develop and retain talent to deliver our ambitious global strategy. High workloads puts pressure on teams.

Wellbeing Strategy in place.
Continuous efforts to upskill staff and streamline processes.
Salary and reward is benchmarked to the sector to ensure it remains competitive.

agency with detailed feedback and training actions where appropriate. Should a call fail to meet our quality expectations, we will take immediate action such as removing a fundraiser from the WaterAid account pending retraining, or permanently for more serious call quality concerns.

Our public fundraising approach

�� from the public. Our primary aim is to ensure we do this in a respectful and inspiring way, consistent with our core values and in line with �� Code of Fundraising Practice. We also support measures that will improve public trust and support for fundraising in the charity sector as a whole.

We provide training on vulnerability to Angel fundraisers every quarter and campaign managers carry out separate training for any appeals being managed at Angel. As part of their induction to working on a WaterAid campaign, all Angel fundraisers are required to sign a Code of Conduct stating they will protect people in vulnerable circumstances and uphold WaterAid’s high standards in their fundraising.

In order to raise funds and awareness and enable supporters to get involved, we rely on a variety of activities including: fundraising over the telephone, through letters and emails, and by television; digital and press advertising; promoting legacies, events, payroll giving and community fundraising; and engaging philanthropists, trusts, foundations, public sector bodies and corporate partners.

We have quarterly reviews with Angel to discuss performance. Campaign managers have more frequent calls when campaigns are live, and we have fortnightly calls to discuss call quality and supporter experience.

We speak to many supporters about fundraising by telephone each year, if they have given prior consent for this. We use a professional telephone fundraising agency, Angel, to carry out this work on our behalf in accordance with our own high standards and sector regulation. We closely monitor our agency’s compliance, training and call quality to ensure we provide our supporters with the best experience. We use an independent assessor to monitor a minimum of 2% of calls made, providing the

To ensure our telephone fundraising is of the highest standard, we run a full tender every three years to ensure we partner with an agency that can deliver the exceptional quality our supporters expect.

You can learn more about our approach to telephone fundraising at ��

We work with professional fundraising organisations (PFOs) who are invited into workplaces to sign people up for payroll giving. All PFOs are registered with the Fundraising Regulator, meaning they are committed to fundraising in line with the Code of Fundraising Practice. All the PFOs we work with have shared their training plans with us, providing assurance that the right training is in place to ensure responsible fundraising practice. None of the PFOs we work with do door-to-door fundraising, they only fundraise on invitation of the employers.

To protect potentially vulnerable supporters, all new fundraisers who join WaterAid must complete the mandatory Fundraising Compliance Induction training, delivered by the Fundraising Compliance Team, on protecting people in vulnerable circumstances, what vulnerability means, and how to recognise and respond appropriately to a potentially vulnerable supporter.

You can read our Vulnerable Supporter Policy, informed by industry guidelines, on our website at ��

As per our Privacy Policy, we provide supporter details to agency partners fundraising on our behalf. However, we do not give or sell our supporters’ details to anyone else, and we do not contact people from ‘cold’ lists.

Whenever a partner fundraises on our behalf, we put in place data sharing agreements to ensure the security and fair processing of personal data in accordance with the General Data Protection Regulation (GDPR).

When considering a new partner that would process personal data, we also conduct a Data Protection Impact Assessment to identify and mitigate any potential risks to that data.

We are members of the Chartered Institute of Fundraising and the Direct Marketing Association and endorse the formation of best practice standards and guidelines for the sector, �� seriously and are committed to protecting our supporters’ personal information. You can read our Privacy Policy on our website at ��

We are registered with the Fundraising Regulator and pay an annual levy as required. We support public consultations on their Code of Fundraising Practice, work diligently to ensure compliance with the code and champion its standards across all our fundraising, and adhere to the requirements of the Fundraising Preference Service.

It is vital that we communicate with our supporters in the manner they prefer, respecting their privacy and communication preferences. We actively encourage supporters to contact us with any feedback, and we give complaints our utmost attention, to help us improve our fundraising approach.

During 2024–25, we made 5,768,644 contacts using email, mail and telephone.

We received 133 complaints about our fundraising, 0.003% of the total contacts we made. These were 84% of all complaints received. Our Supporter Care Team investigates every complaint, responding within three working days. We do all we can to resolve complaints and ensure supporters are happy to be part of our work. The main causes of the complaints were direct mail (41%), online activity (9%) and unaddressed mailings (8%).

38 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 39

Data protection

We take privacy seriously so that our supporters can trust us with their data.

We always demonstrate our accountability to the principles of the UK GDPR and the requirements of the Data Protection Act 2018. We have the following in place to help protect personal data:

Data protection policies and guidance

Simple processes allowing our supporters to easily exercise their UK GDPR rights
Internal governance arrangements that support our data security and management
Contracts with our data processors (e.g. our mailing house) to ensure they adhere to the same data protection standards we do
New starter and bespoke training programmes to ensure our staff get relevant and helpful guidance on their data protection responsibilities
Data protection impact assessments to ensure data protection is at the centre of everything we do

For more information on how we use and protect personal data, please see our privacy notice at ��

----- Start of picture text -----
Therese, latrine mason,
Bugesera, Rwanda.
March 2025.
WaterAid/ Tracy Keza
----- End of picture text -----

40 WaterAid UK Annual Report 2024–25

Managing our finance

Reserves policy

Our reserves policy seeks to retain a level of readily accessible funds within an operational reserve of unrestricted monies to mitigate �� plan. Trustees review winding down costs, current risks based on the risk register, and strategic investment requirements in setting the target range. The operational reserve is reviewed on an annual basis and for 2024–25 the target range was £13m to £17m, with the minimum set at £9.2m. If at anytime during the year the reserves are predicted to go below the minimum reserve level, remedial action must be taken. Any funds above the minimum reserve level are considered as the available strategic reserve that can be used at the discretion of the Trustees. The general income fund at the end of March 2025 was above this range, at £19m.

The majority of our unrestricted income is generously donated by individuals through regular gifts, legacies or fundraising events. Throughout the year, cost of living pressures continued to challenge our fundraising ambitions. At the same time, economic uncertainty across the globe put pressure on our ability to raise programme funding as planned, and the Stop Work Order issued by the US government in January forced us to provide for £0.5m bad debt risk against our USAID funded programmes. We had planned �� £6.1m but this reduced by the end of the year to �� expected fundraising from individuals in the UK.

Total funds at 31 March 2025 were £34m, of which £12m was in restricted funds and �� fund). Restricted funds are received from governments, trusts, foundations, corporations and individuals.

The restrictions that these partners place on the funds they give us can range from a focus on a theme or country to a high degree of restriction, �� programmes and the Trustees have no discretion to reallocate them to other uses. Restricted funds received in one year are carried forward into future years where the criteria for applying them to particular programmes have yet to be met for compliance with the funder’s conditions.

�� portfolio as we can achieve, working in partnership with those that fund us. We are stringent in our management of all our funding, whether restricted or unrestricted.

Investment policy and performance

We hold short-term investments and cash. The objective of our investment policy is to limit risk as far as is possible while earning such interest as is available on very secure deposits. Accordingly, our investment policy is to hold cash or invest in short-term liquid deposit accounts only at those banks with a high credit rating. We don’t invest in stocks and shares. Due to stable interest rates in the UK, investment income increased to £1,098,000 in 2024–25 (2023–24: £701,000); we expect good rates of return on cash balances to continue in 2025–26, depending on the prevailing interest rate on deposits.

Going concern statement for 2025–26

As required by the Charities Statement of Recommended Practice (FRS 102), we assess whether there are any uncertainties that may cast doubt over our ability to continue as a going concern. For this purpose, we focus on a period of 18 months following the signing of these accounts, so the period to at least the end of March 2027.

Our annual budget and plan, presented to the Board in March 2025, represents management and the Board’s best forecast of the fundraising targets and key income streams, alongside the expected cost base. The Board approved the annual budget for the year ending 31 March 2026 on that basis.

This budget forms the base case for our going concern assessment. In addition, we have undertaken scenario modelling to understand the impact of various income downsides and cost pressures on our future expenditure both at a UK and country programme level. We have modelled several scenarios that when compared �� income and a higher cost base.

We have also prepared an acute or ‘severe but plausible downside’ scenario, which �� pressures affecting stock and property prices, a material reduction in regular giving and no continued funding received from key donors.

Although the impact of the acute scenario is severe and would require the consideration of mitigating actions which are wholly within our control to reduce our discretionary cost base, the analysis indicates that the Group would have �� committed funding obligations and to maintain �� concern period.

Robust monitoring processes are in place to ensure that the organisation is able to react quickly to any downturn in income and the short-term deposit investments held can be liquidated quickly in the event that they are required. The Group currently has no bank �� there are no covenants to consider.

For 2025-26, the Group is aiming its reserves level to be within a range of £13-15m with a minimum target of £11.5m. As at 31 March 2025 the Group had managed cash and shortterm deposits of £33m, well above our level of contractual commitments.

Taking into account our current position, our principal risks, and analysis on severe but plausible downside scenarios, the Trustees have a reasonable expectation that the Charity will be able to continue in operation and meet its liabilities as they fall due over the medium term. Accordingly, the Group expects to continue to �� meet its obligations for a period of at least 18 �� statements, namely the period to March 2027 and the Board therefore continues to adopt the going concern basis of accounting in preparing ��

��

The Trustees have taken into account the Charity Commission’s general guidance on �� aims and objectives and in planning our future activities.

42 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 43

How we operate

WaterAid is a member of a global federation of which there are six other members in America, Australia, Canada, India, Japan and Sweden. All federation members are independently constituted organisations with their own boards. WaterAid receives funding from other members of the federation to deliver services and make change happen. At the same time, WaterAid invests in other members to support their future growth. WaterAid also funds part of the running costs of WaterAid international – a requirement of all members.

Legal structure

WaterAid was established by Trust Deed on 21 July 1981, incorporated on 30 January 1984 and registered as a charity in England on 22 February 1984. WaterAid registered as a charity in Scotland on 3 April 2008. WaterAid has a Memorandum which sets out the objects and powers of the organisation and is governed in accordance with its Articles of Association.

WaterAid is a company limited by guarantee, under which the members each undertake to contribute £1 in the event of the company being wound up. WaterAid is a member of the WaterAid Federation. Federation members include include America, Australia, Canada, India, Japan and Sweden. WaterAid international was formed in 2010 and is the secretariat for the federation, holding the WaterAid trademarks and licensing members of the federation to use those marks. WaterAid international accounts do not require consolidation into WaterAid accounts as WaterAid does not exercise �� international.

Trading company

The principal activity of WaterAid Trading Limited (the ‘Company’) is identifying and undertaking commercial licensing deals. �� of £204,997 (2023–24: £546,984). A deed �� generated by the company are gift aided to the parent charity. This trading company is wholly owned by WaterAid and primarily operates the sub-licensing agreements that WaterAid enters into but also sells goods.

Organisation structure

WaterAid is led by our Chief Executive, Tim �� directors. The Internal Audit department reports to the Chair of the Audit & Risk Committee and the Chief Executive. The executive directors are responsible for the departments of International Programmes; Policy and Campaigns; Finance, Technology and Strategic Planning; Communications and Fundraising; and People and Organisational Development.

�� registered as branches of the UK company, in 22 countries in Asia and Africa as well as a London ��

Country directors in each branch report into a regional director. All are appointed by and accountable to the Executive Director of International Programmes. Country heads of �� a dotted line to the UK-based Executive Director of Finance, Technology and Strategic Planning. WaterAid also works in partnership with civil society networks and other organisations in countries where there is no WaterAid presence.

Sustainability Policy and Emissions Standard in place. These were developed in line the GHG Protocol and science-based targets.

Streamlined Energy and Carbon Reporting (SECR)

This section includes our mandatory reporting of energy and greenhouse gas emissions for the period 2024–25, pursuant to the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, implementing the UK Government’s Streamlined Energy and Carbon Reporting (SECR) Policy.

How our carbon footprint and energy consumption are calculated

Our methodology to calculate our greenhouse gas emissions is based on the GHG Protocol Corporate Accounting and Reporting Standard, incorporating, where possible, data supplied directly by WaterAid’s suppliers.

Additional WaterAid emissions reporting has been included following the implementation of WaterAid’s own Greenhouse Gases Emissions Standard. WaterAid has a global ambition to halve its global emissions by the end of our current strategy (2032), and a Global

The table below includes greenhouse gas emissions calculated by tonne of carbon dioxide equivalent (tCO2e), along with our carbon intensity ratio:

----- Start of picture text -----
2024–25 2023–24
Emissions source Data source kWh kWh
�� 221,476 226,313
consumption
Mandatory carbon reporting
tCO2e tCO2e Scope
Owned vehicles WaterAid does not own/operate our own 0 0 1
vehicles in the UK
�� Energy consumption from provider; 2024 46 47 2
purchased energy UK electricity grid published conversion
factor (0.20705kgCO2e per kWh)
�� Further electricity used for shared 5 4 2
building services; conversion factor as
above
Total gross tCO2e 51 51
Intensity ratio Gross tCO2e per UK employee 0.115 0.135
----- End of picture text -----

44 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 45

----- Start of picture text -----
Additional WaterAid carbon reporting
�� Alternative calculation using conversion 0 0 2
purchased energy factor of 0 based on WaterAid’s use of a
supplier with a 100% renewable fuel mix
disclosure
Printed materials Carbon cost of printing and transport for 617 890 3
mass distribution materials
Travel – WaterAid Employee and volunteer commuting, 1,445 1,178 3
staff and and business travel emissions, calculated
volunteers using distance travelled and journey type
Other reported Including purchased IT hardware and the 52 37 3
use of leased vehicles
Total gross tCO2e 2,114 2,105
Intensity ratio Gross tCO2e per UK employee 4.79 5.58
----- End of picture text -----

Carbon reduction and energy ��

Mandatory carbon reporting requires that we provide the UK grid electricity conversion factor for the use of WaterAid’s purchased energy. �� supporting the development of new wind and solar parks.

The carbon intensity of printed materials has �� weight paper and an overall decrease in volume.

----- Start of picture text -----
Noel washing his school uniform
in clean water in Monze district,
Zambia. November 2024.
WaterAid/ Cian Oba-Smith
----- End of picture text -----

46 WaterAid UK Annual Report 2024–25

WaterAid UK’s Board of Trustees

The Board of Trustees governs the organisation in line with its Articles of Association, vision, mission, values, aims and charitable objectives and provides overall policy direction. The Board is responsible for compliance with the legal and statutory requirements of a UK charity and of a registered company.

We are committed to the highest standards of governance and seek to make continuous improvements in line with the principles set out in the Charity Governance Code. Overall, we meet all applicable areas of key compliance of the Charity Governance Code.

Trustees serve a four-year term (renewable once). In occasional circumstances, these periods may be further extended to retain ��

The Board of Trustees has four sub-committees:

The Audit & Risk Committee promotes and safeguards the highest standards of �� control. It also oversees the organisation’s risk management processes, IT and communications systems, capital spend projects, and internal and external audit. �� approval of the internal audit plans and inspection of reports from the internal auditors, review and endorsement of the Reserves Policy, and scrutiny of the external audit report. The committee also reviewed ��
The Nominations and Governance Committee ensures that candidates of the highest calibre are put forward for election to the Board of Trustees to achieve an appropriate and diverse mix of skills and experience across the Board as a whole. It also oversees and

monitors any matters of governance that may be remitted to it. During the year, the committee commenced recruitment for new Trustees to join the Board in 2025. No new Trustees were appointed during the year 2024–25.

The People Committee reviews the development of our people management strategies, policies and practices, including our salary policy, with a particular focus �� discussions over the year included our global employee engagement survey results, gender and ethnicity pay gaps, and the UK Employment Rights Bill 2025. The committee also endorsed annual pay awards across the different countries where WaterAid works.
The Communications and Fundraising Committee oversees and monitors fundraising procedures, policies and activities. It also provides advice on activities �� reputational risk. During the year, the committee held deep-dive sessions on brand review and development, gift aid, fundraising performance, data protection and fundraising compliance.

All these committees have terms of reference published in the governance manual, which is on our website. An induction programme is held for Trustees joining the Board. Trustees are invited to participate in seminars with staff as well as being expected to visit our work in country programmes to familiarise themselves with our operations. As part of the development of the Board, a Board evaluation is held biennially and individual Trustees are performance assessed each year.

The members of the Board of Trustees who have served during the year are listed in the Board of Trustees section on page 52, together with the Royal Patron, Vice President and Executive Directors Team.

Day-to-day management of the charity is delegated by the Trustees to the Chief Executive. The planning and reporting arrangements in

�� is being managed effectively.

Registers of Interests

�� Procedure, and a Register of Interests for all Trustees and Directors is held by the Company Secretary.

Section 172 (1) Statement of Directors’ duties

WaterAid is governed by the charitable objectives which set out the purpose and mission of the charity. The consequences of all decisions and activities of WaterAid are assessed by how they drive us towards achieving that long-term purpose. As Company Directors, the Trustees must act in accordance with duties outlined in section 172 of the Companies Act 2006, summarised as follows:

The impact of the company’s operations on the community and the environment: In agreement with all federation member boards, one of our global principles is for us to be a sustainable organisation. We have increased focus on the interlinkages between WASH and climate change to ensure we deliver sustainable and resilient WASH services for the communities that need them most. The UK, alongside all members of the federation, has committed to measurement criteria related to economic health, safeguarding and wellbeing of communities and staff, and environmental impact.

The reputation for a high standard of business conduct:

The Board of Trustees supports the pace and sensitivity in which we are approaching the crucially important work on diversity, equity and empowerment. Mala Rao is our lead Trustee in this area, championing this work and encouraging, challenging and advising the Board and Directors on the integration of this work into our thinking. The Board receives regular updates on progress, supports our global commitments, and has agreed diversity objectives.

The interests of the company’s employees: Spending time with staff, both formally and informally, is important to Trustees. New Trustees receive face-to-face and virtual inductions with all departments. A programme of engagement is scheduled each year for the Board; this includes webinars and seminars, networking, and Q&A sessions.

The need to foster the company’s business relationships with suppliers, customers and others:

During the year, Trustees visited Zambia, meeting with communities, implementing partners, and local and national government �� centres, met with community groups and participated in high-level meetings.

The need to act fairly between members of the company:

The Trustees are the sole members of the charity, and the charity is not run in the interests of the members but of the objectives of the charity. As a member of the WaterAid Federation, Trustees work to ensure the work of WaterAid is well aligned with the rest of the federation.

The likely consequences of any decision in the long-term:

During the year, the Board approved the decision to establish the Resilient Water Accelerator as a wholly owned subsidiary of WaterAid. This enables the Resilient Water Accelerator to focus on its principle aim of generating high quality, climate-resilient and low-carbon programming for protecting water resources and improving water security for vulnerable and water-stressed people in low-income and middle-income countries. The Resilient Water Accelerator supports WaterAid’s aims through its efforts to mobilise �� needs in countries where we operate.

The activities and decision making of both the executive and the Board’s sub-committees are an integral part of the way in which Trustees carry out their duty. As such, many of the key illustrations of how we comply with this duty are contained throughout this report.

48 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 49

----- Start of picture text -----
A new water point has reduced
the challenges of accessing
clean water for Aslam, 60, who
has a disability, Lodhran district,
Pakistan. January 2025.
WaterAid/ Shahzad Iqbal
----- End of picture text -----

Statement of Trustees’ responsibilities

The Trustees (who are also Directors of WaterAid for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (including the Strategic Report) and �� applicable law and regulation.

Company law requires the Trustees to prepare ��

Under that law, the Trustees have prepared the �� Kingdom Accounting Standards, comprising FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, and applicable law (United Kingdom Generally Accepted Accounting Practice). Under company �� give a true and fair view of the state of the affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company/group �� statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Statement of Recommended Practice: Accounting and Reporting by Charities (2019); make judgments and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards, comprising FRS 102, have been followed, subject to any material departures �� statements; and
�� going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping

�� to show and explain the charitable company’s transactions and disclose with reasonable �� charitable company and the group and enable �� comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charitable company’s website.

Legislation in the United Kingdom governing �� statements may differ from legislation in other jurisdictions.

In accordance with Section 418, Directors’ reports shall include a statement, in the case of �� report is approved, that:

(a) so far as the Trustee is aware, there is no relevant audit information of which the company’s auditors are unaware; and
(b) they have taken all the steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

The Board of Trustees approved the Trustees’ Report, including the Strategic Report, on 1� September 2025. Signed on its behalf by:

Andy Green CBE

Chair of the Board of Trustees 1� September 2025

WaterAid UK Annual Report 2024–25 51

Royal Patron

HM King Charles III[ix]

Vice President

The Rt Hon Baroness Chalker of Wallasey[ix]

Board of Trustees

Manuel Alvarinho

Mamadou Biteye OBE (until August 2025)

Alyson Clark[v, vi]

Ashvin Dayal

Andy Green CBE[vi, vii, viii] Chair of the Board of Trustees and Chair of the People Committee

Nina Jasinski[viii ] Chair of the Communications and Fundraising Committee

Simi Kamal[vii ]

Heidi Mottram CBE[vii]

Sanjay Nair[v] Treasurer

Mala Rao CBE[vi,vii] Vice Chair

Guido Schmidt-Traub

Peter Simpson[v]

Heather Skilling[v] (until January 2025) Hilary Wild[v ] Chair of the Audit & Risk Committee

Chief Executive and

Company Secretary Tim Wainwright

v Audit & Risk Committee member vi Nominations and Governance Committee member vii People Committee member viii Communications and Fundraising Committee member ix Honorary positions

Executive Directors Team

Amaka Godfrey, Executive Director of International Programmes

Syed Abdul Muntakim, Executive Director of Finance, Technology and Strategic Planning

Sol Oyuela, Executive Director of Policy and Campaigns

Rachel Westcott, Executive Director of People

Jennie York, Executive Director of Communications and Fundraising

Principal banker

Barclays Bank plc, 1 Churchill Place, London E14 5HP

Independent auditor

PricewaterhouseCoopers LLP, 1 Embankment Place, London WC2N 6RH

Principal solicitor

Bates, Wells and Braithwaite, 10 Queens Street Place, London EC4R 1BE

Company number 1787329

Charity numbers

288701 (England and Wales) SC039479 (Scotland)

�� operational address ��

Independent auditors’ report to the members and trustees of WaterAid

Charity balance sheets as at 31 March 2025; the �� accounting policies.

Report on the audit �� statements

Opinion

Basis for opinion

�� statements and parent charitable company ��

We conducted our audit in accordance with �� under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the �� We believe that the audit evidence we have �� a basis for our opinion.

give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 March 2025 and of the group’s and parent charitable company’s incoming resources and application of resources, including its income and �� for the year then ended;

Independence

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 �� applicable law); and

We remained independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to �� UK, which includes the FRC’s Ethical Standard �� responsibilities in accordance with these requirements.

have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 6 of The Charities Accounts (Scotland) Regulations 2006 (as amended).

Conclusions relating to going concern

Based on the work we have performed, we �� relating to events or conditions that, individually �� group and parent charitable company’s ability

��

52 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 53

to continue as a going concern for a period of at least twelve months from the date on which the ��

�� concluded that the trustees’ use of the going concern basis of accounting in the preparation ��

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the group’s and parent charitable company’s ability to continue as a going concern.

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

Reporting on other information

The other information comprises all of the information in the Annual Report other than �� report thereon. The trustees are responsible for the other information. Our opinion on �� other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon.

�� statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially �� or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether �� statements 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 based on these responsibilities.

With respect to the Strategic Report and Trustees’ Annual Report, we also considered whether the disclosures required by the UK Companies Act 2006 have been included.

Based on our work undertaken in the course of the audit, the Companies Act 2006 and The Charities Accounts (Scotland) Regulations 2006 (as amended) require us also to report certain opinions and matters as described below.

Strategic Report and Trustees’ Annual Report

In our opinion, based on the work undertaken in the course of the audit the information given in the Trustees’ Annual Report, including �� the Strategic Report and the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements.

In addition, in light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we are �� material misstatements in the Strategic Report and the Trustees’ Annual Report. We have nothing to report in this respect.

�� statements and the audit

Responsibilities of the trustees for the ��

As explained more fully in the Statement of Trustees’ reponsponibilities, the trustees are �� statements in accordance with the applicable �� give a true and fair view. The trustees are also responsible for such internal control as they determine is necessary to enable the �� from material misstatement, whether due to fraud or error.

�� trustees are responsible for assessing the group’s and parent charitable company’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 either intend to liquidate the group and parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the ��

We have been appointed as auditors under section 44(1) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable �� statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ 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 �� 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.

Based on our understanding of the group and parent charitable company/industry, �� compliance with laws and regulations related

to Charities Act 2011, and we considered the extent to which non-compliance might have a �� also considered those laws and regulations that �� such as the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 6 and 8 of The Charities Accounts (Scotland) Regulations 2006 (as amended). We evaluated management’s incentives and opportunities for fraudulent manipulation of �� of override of controls), and determined that the principal risk was related to the posting of inappropriate journal entries. Audit procedures performed included:

enquiring of management and the Board of Trustees, including consideration of any known or suspected instances of fraud, and non-compliance with laws and regulations;
reading minutes of meetings of the Board of Trustees and Board subcommittees, including the Audit and Risk Committee;
reviewing any correspondence with regulators including the Charity Commission �� Scottish Charity Regulator;
understanding and evaluating the group’s control environment;
identifying and testing journal entries, including journal entries posted with unusual account combinations to income or expenditure accounts;
assessing the reasonableness of key accounting judgements and estimates; and
�� and testing to supporting documentation, for compliance with applicable laws and regulations.

54 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 55

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of noncompliance with laws and regulations that are not closely related to events and transactions �� risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for �� on the FRC’s website at: �� . This description forms part of our auditors’ report.

Use of this report

This report, including the opinions, has been prepared for and only for the charitable company’s members and trustees as a body in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and the Companies Act 2006 and regulations made under those Acts (regulation 10 of The Charities Accounts (Scotland) Regulations 2006 (as amended) and Chapter 3 of Part 16 of the Companies Act 2006) and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

Other required reporting

Matters on which we are required to report by exception

Under the Companies Act 2006 and The Charities Accounts (Scotland) Regulations 2006 (as amended) we are required to report to you if, in our opinion:

we have not obtained all the information and explanations we require for our audit; or
adequate and proper accounting records have not been kept by the parent charitable company or returns adequate for our audit have not been received from branches not visited by us; or
certain disclosures of trustees’ remuneration ��
�� statements are not in agreement with the accounting records and returns.

We have no exceptions to report arising from this responsibility.

Daniel Chan (Senior Statutory Auditor)

for and on behalf of PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors

London

18 September 2025

Consolidated statement of financial activities

(including consolidated income and expenditure account) For the year ended 31 March 2025

Note Income from: Donations and legacies Donations 2 Grants of a general nature 2 Gifts in kind 2 Charitable activities �� 4 Other trading activities 3 Other income Investment income Total income Expenditure on: Raising funds Expenditure on raising grants, donations and legacies 5 Expenditure on other trading activities 5 Charitable activities Supporting partners to deliver water, sanitation and hygiene 5 Strengthening national and local capacity to deliver services 5 �� and hygiene 5 Supporting WaterAid globally 5 Total expenditure Net expenditure RECONCILIATION OF FUNDS Net movement in funds 21 Funds brought forward at 1 April 16 Total funds carried forward at 31 March 16	Unrestricted £000 Restricted £000 2025 Total £000 Unrestricted £000 Restricted £000 2024 Total £000 58,200 4,628 62,828 55,665 4,611 60,276 3,586 - 3,586 3,562 - 3,562 322 - 322 640 - 640 - 23,691 23,691 - 24,392 24,392 528 - 528 919 96 1,015 63 - 63 275 - 275 1,098 - 1,098 701 - 701
	63,797 28,319 92,116 61,762 29,099 90,861
	25,514 367 25,881 23,462 247 23,709 61 - 61 (4) - (4) 12,015 15,036 27,051 11,465 18,726 30,191 13,394 9,330 22,724 13,762 9,030 22,792 12,530 3,406 15,936 11,782 1,540 13,322 4,904 461 5,365 3,006 623 3,629
	68,418 28,600 97,018 63,473 30,166 93,639
	(4,621) (281) (4,902) (1,711) (1,067) (2,778) (4,621) (281) (4,902) (1,711) (1,067) (2,778)
	26,884 12,328 39,212 28,595 13,395 41,990
	22,263 12,047 34,310 26,884 12,328 39,212

�� during the year on investment assets. All income and expenditure derive from continuing activities. The notes supporting the Financial Statements are on pages 61 to 83.

56 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 57

��

(including an income and expenditure account) For the year ended 31 March 2025

Note Income from: Donations and legacies Donations 2 Grants of a general nature 2 Gifts in kind 2 Charitable activities �� 4 Other trading activities 3 Other income Investment income Total income Expenditure on: Raising funds Expenditure on raising grants, donations and legacies 5 Charitable activities Supporting partners to deliver water, sanitation and hygiene 5 Sector strengthening and capacity building to deliver water, sanitation and hygiene 5 �� and hygiene 5 Supporting WaterAid globally 5 Total expenditure Net expenditure RECONCILIATION OF FUNDS Net movement in funds 21 Funds brought forward at 1 April 16 Total funds carried forward at 31 March 16	Unrestricted £000 Restricted £000 2025 Total £000 Unrestricted £000 Restricted £000 2024 Total £000 58,200 4,628 62,828 55,665 4,611 60,276 3,586 - 3,586 3,562 - 3,562 322 - 322 640 - 640 - 23,691 23,691 - 24,392 24,392 262 - 262 472 - 472 268 - 268 726 96 822 1,098 - 1,098 701 - 701
	63,736 28,319 92,055 61,766 29,099 90,865
	25,514 367 25,881 23,462 247 23,709 12,015 15,036 27,051 11,465 18,726 30,191 13,394 9,330 22,724 13,762 9,030 22,792 12,530 3,406 15,936 11,782 1,540 13,322 4,904 461 5,365 3,006 623 3,629
	68,357 28,600 96,957 63,477 30,166 93,643
	(4,621) (281) (4,902) (1,711) (1,067) (2,778) (4,621) (281) (4,902) (1,711) (1,067) (2,778)
	26,884 12,328 39,212 28,595 13,395 41,990
	22,263 12,047 34,310 26,884 12,328 39,212

�� during the year on investment assets. All income and expenditure derive from continuing activities. The notes supporting the Financial Statements are on pages 61 to 83

Group and Charity balance sheets

At 31 March 2025 Company number: 01787329

Note Fixed assets Intangible assets 9 Tangible assets 9 Fixed asset investments 12 �� Current assets Debtors 10 Cash at bank and in hand 13 Short-term deposits 13 Total current assets Liabilities Creditors: amounts falling due within one year 14 Provision for liabilities and charges 15 Total current liabilities Net current assets Provisions for liabilities and charges 15 Net assets The funds of the charity Unrestricted income funds Designated funds 16 General income funds 16 Total unrestricted income funds Restricted income funds 16 Total charity funds	Group Charity 2025 £000 2024 £000 2025 £000 2024 £000 1,121 2,223 1,121 2,223 2,200 2,814 2,200 2,814 182 182 - -
	3,503 5,219 3,321 5,037
	10,105 11,138 10,384 11,341 29,378 26,878 28,955 26,294 3,731 4,200 3,731 4,200
	43,214 42,216 43,070 41,835
	(10,606) (6,541) (10,598) (6,297) (1,540) (1,473) (1,222) (1,154)
	(12,146) (8,014) (11,820) (7,451)

	31,068 34,202 31,250 34,384
	(261) (209) (261) (209)
	34,310 39,212 34,310 39,212
	3,321 4,901 3,321 4,901 18,942 21,983 18,942 21,983
	22,263 26,884 22,263 26,884 12,047 12,328 12,047 12,328
	34,310 39,212 34,310 39,212

�� approved by the Board of Trustees on 1� September 2025 and signed on its behalf by:

Andy Green Chair

Sanjay Nair Treasurer

58 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 59

��

For the year ended 31 March 2025

Net expenditure for the year Interest receivable Amortisation of intangible assets Depreciation of tangible assets Loss on disposals of tangible assets Impairment reversal Decrease/ (increase) in debtors Increase/ (decrease) in short-term creditors Increase in long-term creditors Increase in provisions Cash generated from/(used in) operating activities Bank interest received �� �� �� Change in cash and cash equivalents in the year Analysis of cash as shown in the balance sheet Cash and cash equivalents at the beginning of the year �� Cash and cash equivalents at the end of the year	2025 £000 2024 £000 (4,902) (2,778) (1,098) (720) 1,236 1,050 902 876 53 28 - (82) 1,033 (2,063) 4,065 (2,045) 52 52 67 29
	1,408 (5,653)
	1,098 720 (293) (347) (182) (994)
	623 (621)

	2,031 (6,274)
	2025 £000 2024 £000 31,078 37,352 2,031 (6,274)
	33,109 31,078

Cash and cash equivalents include funds held in short-term deposit accounts that can be accessed without notice. The charity held no borrowings, related derivatives or obligations ��

Cash and cash equivalents Cash at bank and in hand Short-term deposits Balance at 31 March Analysis of changes in net debt Cash at bank and in hand Cash equivalents Total cash and cash equivalents	At 1 April 2024 £000 �� 26,878 4,200	2025 £000 2024 £000 29,378 26,878 3,731 4,200
		33,109 31,078
		�� £000 At 31 March 2025 £000 2,500 29,378 (469) 3,731
	31,078	2,031 33,109

��

For the year ended 31 March 2025

1. Accounting policies

The principal accounting policies have been applied consistently in dealing with items which are considered material in relation to WaterAid’s Financial Statements.

WaterAid is incorporated in the United Kingdom (company number: 01787329) and is a registered charity in England, Wales �� Canada Square, London E14 5NN.

a) Basis of preparation

The Financial Statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP (FRS 102), effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006, the Charities Accounts (Scotland) regulations 2006 and Charities and Trustee Investment (Scotland) Act 2005, and under the historical cost accounting rules, except for investments which have been included at fair value or the value considered appropriate by the Board of Trustees.

The Financial Statements are drawn up on the going concern basis which assumes WaterAid will continue in operational �� were authorised for issue).

b) Basis of consolidation

The group has three wholly owned subsidiaries and a 20% share in an associate. Consolidated Financial Statements for the group, being WaterAid and WaterAid Trading Limited, have been prepared on a line by line basis. Two further subsidiaries, WaterAid (WASH and Health) Limited and WaterAid (WASH and Climate Change) Limited, were dormant for the whole of the �� WEAREGOODGIVING Ltd is treated as an associate and accounted for under the equity method with the consolidated accounts. A ��

The activities of the regional fundraising committees in England, Wales, Scotland and Northern Ireland raising funds for WaterAid are deemed to be part of the activities of the charity. As such, they are included in full in the Financial Statements of the charity and group.

c) Foreign exchange

Transactions denominated in foreign currencies are translated at the rate of exchange at the beginning of the month as an approximation to actual transaction dates. Foreign currency balances are translated at the rate of exchange prevailing at the balance sheet date. Realised and unrealised foreign exchange gains and losses are included within support costs and reallocated across charitable activities in the Statement of Financial Activities (SOFA) as per note 5.

d) Income

All income is included in the SOFA when the charity is legally entitled to it, receipt is probable and the amount can be ��

��Grants are credited to the SOFA when the charity is entitled to the funds. Income is only deferred where there are time constraints imposed by the donor or if the funding is performance related.
��
�� credited to restricted income within the SOFA on an entitlement basis. Unspent balances are carried forward within the relevant restricted fund.
Grants of a general nature�� SOFA on an entitlement basis and disclosed in note 2 if their value is above £150,000 and the donor has not requested to remain anonymous.

Donations��

Pecuniary and residuary legacy income�Legacy income is recognised when three criteria are met when entitlement is established, receipt of the income is probable and it can be reliably measured:
��

��

60 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 61

��

For the year ended 31 March 2025 (continued)

1. Accounting policies (continued)

Probability is based on grant of probate.

��

Other income�� virtue of the Deed of Covenant and licence fee paid by WaterAid Trading.
Investment income��
Gifts in kind�� services would otherwise have had to be purchased, are recognised in the Financial Statements, as both income and expenditure, at a reasonable estimate of their value in the period in which they are donated.
Fundraising events�� and that is being held by a third party agent is recognised on a receivable basis. Fundraising event income received in advance is deferred until the event has taken place.

e) Expenditure

Expenditure is recognised in the period in which it is incurred on an accruals basis. Expenditure includes attributable VAT which can only be partially recovered.

Costs of charitable activities include direct expenditure incurred through grants to partners and operational activities together with associated support costs. Charitable expenditure is reported as it relates to work undertaken by the charity, in �� and supporting WaterAid globally.

Grants are recognised in the period in which they are payable. Grants payable in furtherance of the charity’s objects are �� than one year.

The costs of raising funds relate to the costs incurred by the group and the charity in raising funds for the charitable work. Expenditure is allocated to the particular activity where the cost relates directly to that activity. Support costs comprise the salary and overhead costs of the central function. The central function includes costs relating to the Departments of Finance, �� costs, legal and tax advice, Trustee expenses and Directors’ time spent on the governance of the organisation. Governance costs and other support costs have been allocated to expenditure on charitable activities based upon full time equivalent staff numbers. These staff numbers are listed in note 6 to the Financial Statements.

f) Fund accounting

General unrestricted funds are the funds that are available for use at the discretion of the Trustees in furtherance of the �� applied.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in note 16.

�� fund, together with a proportion of overhead costs where agreed by the donor. Negative balances are carried forward on funds only where further income is considered highly probable in the following year.

g) Fixed assets and depreciation

�� purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. �� asset. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation periods in use on a straight line basis are as follows:

��

For the year ended 31 March 2025 (continued)

1. Accounting policies (continued)

Motor vehicles 3 years Equipment and furniture UK and overseas 3 years Computer hardware and software 3 years Lease improvements 10 years

Items of equipment are capitalised where the purchase price exceeds £1,500. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use, and meets the capitalisation criteria as per FRS 102.

h) Investment policy

The group’s investment in an associate company is measured at cost less impairment. If there is any indication of impairment then the carrying amount will be tested and adjusted accordingly (note 12).

i) Financial instruments

�� subsequently measured at their settlement value (note 23).

j) Investments

The investment in the subsidiaries is valued at cost.

Donated shares which are freely tradable are included at the market valuation at the balance sheet date. Shares are not intended to be held as investments and are sold as soon as practically possible and proceeds recognised as income.

k) Cash at bank and in hand

Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments. Cash is held in current accounts or ��

l) Pension cost

�� those of the charity in independently administered funds. Contribution payments are charged to the SOFA. Similarly our �� legislation.

m) Operating leases

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the SOFA on a straight line basis for the duration of the lease contract.

n) Provision for liabilities and charges

�� reliably estimated and for which there is an expectation that payment will be made.

o) Critical accounting judgements and estimation uncertainty

Estimates and judgements are continually evaluated based on historical experience and other factors, including expectations �� statements are concerned with grant and legacy income. These and other estmates and judgements are listed below. It is

��

Critical judgements in applying the Group’s accounting policies

The Charity has through its trading company a 20% shareholding in WEAREGOODGIVING Ltd, a payroll giving company. The ��

��
�� being reliably measured and probable based on contracted terms and progress made against agreed donor outcomes.

62 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 63

��

For the year ended 31 March 2025 (continued)

1. Accounting policies (continued)

Critical accounting estimates and assumptions WaterAid’s estimate of legacy income entitlement is based on the following policy:

�� received.

Residuary legacies often involve the sale of assets such as stocks and property that vary over time and therefore WaterAid �� This is when the value is known with a high degree of probability and is a prudent interpretation of the SORP 2019. This interpretation is considered to be appropriate by the Trustees in the context of WaterAid and has been consistently applied year on year. Those residuary legacies that do not meet recognition criteria are disclosed as part of the legacy pipeline as per note 2. Future residuary legacy income is based on a calculated estimate of the average value of a residuary gift. A less prudent policy to recognising residuary legacy income would be based on draft estate accounts which would increase income and decrease the pipeline value by £3m (2024: £3m)

�� recorded annually as a provision. We have made a provision for cost of dilapidations up to 2025 of £261K (2024: £209K). An increase in lease cost per square foot of 10% would increase the current provision estimate by £25K in 2025 (2024: £20K).

Where WaterAid staff members are involved in more than one activity between raising funds, delivery of charitable activities or support and governance, an estimate of their time spent on each is made and costs allocated accordingly. WaterAid also estimates that support and governance costs are most reasonably allocated to raising funds and charitable activities in proportion to the respective levels of expenditure (note 5). An increase in time allocation to support and governance of 5% would increase expenditure in support and governance and reduce expenditure on charitable activities by £562K in 2025 (2024: £578K).

Going concern assumptions

�� economic pressures affecting stock and property prices, a material reduction in regular giving and no continued funding received from key donors.

Although the impact of the acute scenario is severe and would require the consideration of mitigating actions which are

�� going concern period.

For 2025-26, the Group is aiming its reserves level to be within a range of £13-15m with a minimum target of £11.5m. As at 31 March 2025 the Group had managed cash and short-term deposits of £33m, well above our level of contractual commitments.

��

For the year ended 31 March 2025 (continued)

2. Income from donations and legacies – Group and Charity

	Unrestricted	Restricted	2025	Unrestricted	Restricted	2024
	£000	£000	Total	£000	£000	Total
			£000			£000
Donations
Regular giving, donations and appeals	42,469	2,657	45,126	41,910	2,753	44,663
Legacy income	14,195	131	14,326	12,299	392	12,691
Fundraising events	1,536	1,840	3,376	1,456	1,466	2,922
Total donations	58,200	4,628	62,828	55,665	4,611	60,276
Grants of a general nature
Other WaterAid member countries	586	-	586	462	-	462
People’s Postcode Lottery	3,000	-	3,000	3,100	-	3,100
Total grants of a general nature	3,586	-	3,586	3,562	-	3,562
Gifts in kind
Water industry partnerships	143	-	143	144	-	144
Customer appeal	84	-	84	105	-	105
Audit fees	62	-	62	48	-	48
IT Infrastructure	33	-	33
Resilient Water Accelerator (RWA)	-	-	-	343	-	343
Total gifts in kind	322	-	322	640	-	640
Total	62,108	4,628	66,736	59,867	4,611	64,478

�� gift can only be estimated and timing of receipt of funds is uncertain. In addition to £1.2m (2024: £2.2m) of legacy income ��

�� or contingent legacy income is not included in the pipeline where the outcome of the conditions can’t be reliably ascertained. Contentious legacies are excluded from the pipeline until entitlement is legally established.

Gifts in kind provided by our water industry partners relate to support for fundraising events and delivery of charitable activities (customer appeal relates to printing services). The auditors remuneration was £112k (2024: £81k) and they also provided donated services of £62k by way of a subsidy allocation (2024: £48k). See note 21 for more detailed information. �� audit is sustainable.

3. Other trading activities – Group and Charity

Lotteries Trading company Total	Unrestricted £000 Restricted £000 2025 Total £000 Unrestricted £000 Restricted £000 2024 Total £000 262 - 262 472 - 472 266 - 266 447 96 543
	528 - 528 919 96 1,015

64 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 65

��

For the year ended 31 March 2025 (continued)

4. Income from charitable activities – Group and Charity

4. Income from charitable activities – Group and Charity
�� Other WaterAid member countries �� Swiss Agency for Development and Cooperation Swedish International Development Cooperation Agency DP World Kimberley-Clark Austrian Development Agency Armani beauty Japan International Cooperation Agency Adaptation Fund The Wimbledon Foundation Punjab Rural Municipality Services Co CUMMINS NIGERIA UNICEF Diageo London School of Hygiene and Tropical Medicine Jersey Overseas Aid GSK Global Center on Adaptation Unilever AB InBev Foundation Scottish Government European Commission Sustainable Safe WASH in Eastern Province BandAid Climate Bridge Fund (CBF) UNDP Deltares Global Development Incubator (GDI) Concern Worldwide Other grants Total �� �� �� UK Aid Match – Promoting a gender responsive, climate resilient WASH in drought-prone communities in Ethiopia Gender and Adolescent Inclusive School in Nepal WASH Systems for Health – South Asia Just Water Security Transition initiative One WASH �� ��**	2025 Total £000 2024 Total £000 9,109 9,725 3,232 2,151 1,417 1,166 1,106 1,133 1,000 500 948 1,108 748 - 740 588 679 922 559 - 555 425 490 - 331 369 325 954 314 137 265 107 252 - 199 205 178 51 170 300 - 791 - 464 - 462 - 449 - 250 - 229 - 218 - 175 - 174 - 158 1,074 1,181
	23,691 24,392
	- 300 - 174
	- 474 410 1,147 675 589 308 252 1,758 - 81 162
	3,232 2,150
	3,232 2,624

��

For the year ended 31 March 2025 (continued)

5. Expenditure – Group and Charity

					Allocation of
				Amortisation	support and
		Other direct		and	governance	2025	2024
		Staff costs	costs	depreciation	costs	Total	Total
	Note	£000	£000	£000	£000	£000	£000
Raising funds
Expenditure on raising grants,		8,341	14,595	553	2,392	25,881	23,709
donations and legacies
Expenditure on other		30	31	-	-	61	(4)
��
		8,371	14,626	553	2,392	25,942	23,705
Charitable activities	7
Supporting partners to deliver		9,497	13,983	596	2,975	27,051	30,191
water, sanitation and hygiene
Strengthening national and local		7,626	9,850	185	5,063	22,724	22,792
capacity to deliver services
�� sanitation and hygiene		5,968	7,787	232	1,949	15,936	13,322
Supporting WaterAid globally		178	5,034	-	153	5,365	3,629
		23,269	36,654	1,013	10,140	71,076	69,934
Governance		945	170	-	(1,115)	-	-
Support costs		4,428	6,415	574	(11,417)	-	-
Governance and support costs		5,373	6,585	574	(12,532)	-	-
		37,013	57,865	2,140	-	97,018	93,639
Governance and support costs have been allocated on the basis of actual full time equivalent staff						numbers over the year in
each area of activity. These staff numbers are listed in note			6 to the Financial Statements.
The governance and support costs and gains on exchange rates were incurred as follows:						2025	2024
						Total	Total
						£000	£000
Finance, people and information	services					9,323	8,855
��						1,115	1,061
Premises and facilities						1,814	2,030
Strategy transition						22	981
Gifts in kind						64	45
Support costs						12,338	12,972
Realised and unrealised exchange loss/(gains) on assets						193	(343)
Total of governance and support	costs and exchange gains					12,531	12,629

The exchange rate movement is the net of the operational gains/losses incurred in delivering our services funded in GBP in local currencies and the gains/losses made on asset values held in currencies other than GBP.

�� Additional information on transactions with other WaterAid member countries can be found in note 22.

66 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 67

��

For the year ended 31 March 2025 (continued)

Prior year expenditure

Prior year expenditure
					Allocation of
				Amortisation	support and
			Other direct	and	governance	2024
		Staff costs	costs	depreciation	costs	Total
	Note	£000	£000	£000	£000	£000
Raising funds
Expenditure on raising grants, donations		7,364	13,441	502	2,402	23,709
and legacies
��		26	(30)	-	-	(4)
		7,390	13,411	502	2,402	23,705
Charitable activities	7
Supporting partners to deliver water,		9,091	16,938	556	3,606	30,191
sanitation and hygiene
Sector strengthening and capacity building		7,308	10,965	188	4,331	22,792
to deliver water, sanitation and hygiene
��		4,500	6,485	185	2,152	13,322
hygiene
Supporting WaterAid globally		-	3,491	-	138	3,629
		20,899	37,879	929	10,227	69,934
Governance		864	197	-	(1,061)	-
Support costs		4,892	6,176	500	(11,568)	-
Governance and support costs		5,756	6,373	500	(12,629)	-
		34,045	57,663	1,931	-	93,639

��

For the year ended 31 March 2025 (continued)

6. Staff costs and numbers

6. Staff costs and numbers
Staff costs for the charity and group were as follows: Wages and salaries Social security costs Other pension costs The average number of employees, calculated on a full time equivalent basis and analysed on a functional basis, was as follows: Fundraising staff (cost of generating funds) Staff delivering charitable activities Support staff Governance	2025 £000 2024 £000 31,852 29,440 1,792 1,523 3,370 3,082
	37,014 34,045
	2025 No. 2024 No. 160 152 669 639 78 72 15 13
	922 876

The average monthly headcount was 933 staff (2024: 888). The total number of WaterAid employees at 31 March 2025 was 949 (2024: 909).

The charity paid termination payments totalling £187k (2024: £227k). The majority relates to USAID end of funding which led to severance payments for staff in country programmes impacted by the cancellation of projects funded by USAID.

�� insurance costs amounted to over £60,000 in the year was as follows:

£60,000 - £69,999 £70,000 - £79,999 £80,000 - £89,999 £90,000 - £99,999 £100,000 - £109,999 £110,000 - £119,999 £120,000 - £129,999 £130,000 - £139,999		2025 No. 2024 No. 51 32 22 14 15 11 5 9 3 3 2 3 1 2
		2 0
		101 74

�� insurance contributions) of £142,110 (2024: £137,481) and pension contributions of £16,124 (2024: £15,975). The Chief Executive’s salary is shown in the table above net of employer national insurance contributions of £10,409 (2024: £9,616).

��

The key management personnel of the charity comprise the Trustees, the Chief Executive and the Executive Directors’ Team. �� key management personnel of the group was £764k (2024: £773k). The number of key management personnel was six (2024: seven).

68 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 69

��

For the year ended 31 March 2025 (continued)

7. Charitable activities expenditure by location

			2025			2024
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	£000	£000	£000	£000	£000	£000
West Africa
Burkina Faso	851	751	1,602	722	959	1,681
Ghana	460	1,305	1,765	431	1,261	1,692
Liberia	639	516	1,155	596	625	1,221
Mali	954	1,155	2,109	908	1,646	2,554
Niger	350	842	1,192	373	676	1,049
Nigeria	491	2,003	2,494	657	2,148	2,805
Sierra Leone	-	-	-	331	134	465
Regional management and support costs	1,002	46	1,048	1,071	101	1,172
	4,747	6,618	11,365	5,089	7,550	12,639
East Africa
Ethiopia	1,154	1,204	2,358	1,152	2,263	3,415
Rwanda	750	2,070	2,820	736	2,136	2,872
Tanzania	1,089	416	1,505	1,194	555	1,749
Uganda Regional management and support costs	796 1,089	2,060 8	2,856 1,097	811 1,072	1,726 47	2,537 1,119
	4,878	5,758	10,636	4,965	6,727	11,692
Southern Africa
Kingdom of eSwatini (previously Swaziland)	-	-	-	175	(12)	163
Madagascar	1,037	674	1,711	924	880	1,804
Malawi	172	1,821	1,993	527	1,659	2,186
Mozambique	1,162	1,052	2,214	890	1,658	2,548
Zambia	1,024	350	1,374	787	1,422	2,209
Regional management and support costs	679	177	856	794	541	1,335
	4,074	4,074	8,148	4,097	6,148	10,245
Asia
Bangladesh	688	4,254	4,942	1,077	3,154	4,231
Myanmar	-	-	-	299	224	523
Nepal	677	1,619	2,296	603	1,790	2,393
Pakistan	872	1,724	2,596	718	1,202	1,920
Regional management and support costs	624	361	985	445	159	604
	2,861	7,958	10,819	3,142	6,529	9,671
UK and other
Supporting WaterAid globally	4,768	444	5,212	2,881	609	3,490
Other UK direct international programme support	4,329	1,687	6,016	4,176	1,287	5,463
costs (including technical and programme
effectiveness)
UK-based policy, campaigns and education costs	6,877	1,775	8,652	5,669	843	6,512
Allocated UK support costs to charitable activities	10,171	(32)	10,139	10,602	4	10,606
Exchange (gains)/losses	140	(51)	89	(604)	220	(384)
	26,285	3,823	30,108	22,724	2,963	25,687
Total	42,845	28,231	71,076	40,017	29,917	69,934

��

For the year ended 31 March 2025 (continued)

8. Payments to partner organisations

WaterAid has transferred a total of £7.6m (2024: £7.9m) to partners for the delivery of some of our programmatic work for the year ended 31 March 2025. Funding was provided to 76 (2024: 75) different partners under separate partnership agreements.

Transfer has been made to partners as follows: £0–£49,999 £50,000–£99,999 £100,000–£149,999 £150,000–£199,999 £200,000–£249,999 £250,000 and over	2025 No. 2024 No. 46 32 11 17 3 10 7 5 1 2 8 9
	76 75

�� The implementation costs are included in the charitable expenditure outlined in notes 5 and 7.

			2025	2024
Name of partner		Country	£000	£000
1	Les Compagnons Fontaniers du Rwanda	Rwanda	763	774
2	Nabolok	Bangladesh	601	417
3	Backward Society Education (BASE)	Nepal	536	305
4	Rupantar	Bangladesh	493	274
5	Dushtha Shasthya Kendra - DSK	Bangladesh	455	417
6	AYATEKE Star Company LTD	Rwanda	442	322
7	Strengthening Participatory Organization	Pakistan	387	111
8	APROFEM	Mali	353	382
9	Village Education Resource Center - VERC	Bangladesh	219	156
10	SNV Netherlands Development Organisation	South Asia	198	-
11	Laar Humanitarian Development Program	Pakistan	184	405
12	Dalit Janakalyan Yuwa Club	Nepal	173	206
13	Eco-Social Development Organization - ESDO	Bangladesh	170	158
14	Bauchi Rural Water Supply and Sanitation Agency	Nigeria	168	117
15	DevCon-As association for Rural Development	Pakistan	167	144
16	ALPHALOG	Mali	154	249
17	Centre de Sante de Reference de Bla	Mali	152	74
18	Sajida Foundation	Bangladesh	144	159
19	Guinii Creek United Development Association	Liberia	101	69
20	Swisscontact	Bangladesh	99	104
	Other partners		1,621	3,061
Total payments to implementing partners			7,580	7,904

�� sanitation and hygiene (2024: £13m).

70 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 71

��

For the year ended 31 March 2025 (continued)

9. Fixed assets

Group and charity	Intangible assets		Tangible assets
		Lease	Motor	Equipment
	Software	improvements	vehicles	and furniture	Total
	£000	£000	£000	£000	£000
Cost
At 1 April 2024	6,724	2,464	3,488	2,048	14,724
Additions in year	182	-	185	108	475
Disposals in year	(982)	-	(361)	(199)	(1,542)
At 31 March 2025	5,924	2,464	3,312	1,957	13,657
Accumulated amortisation/depreciation
At 1 April 2024	4,501	861	2,928	1,397	9,687
Charge for the year	1,236	246	333	323	2,138
Disposals in year	(934)	-	(349)	(206)	(1,489)
At 31 March 2025	4,803	1,107	2,912	1,514	10,336
Net book value
At 31 March 2025	1,121	1,357	400	443	3,321
At 31 March 2024	2,223	1,603	560	651	5,037

��

For the year ended 31 March 2025 (continued)

10. Debtors

10. Debtors
Amounts due within one year:		Group		Charity
	2025		2024	2025	2024
	£000		£000	£000	£000
Amounts owed by WaterAid Trading Limited	-		-	379	264
Amounts owed by WaterAid international	86		161	86	161
Amounts owed by other WaterAid members	-		76	-	76
Grant debtors	3,290		2,953	3,290	2,953
Other debtors	1,129		1,095	1,029	1,034
Gift Aid tax recoverable	849		1,129	849	1,129
Prepayments	1,748		1,453	1,748	1,453
Accrued income	3,003		4,271	3,003	4,271
Amounts due within one year	10,105		11,138	10,384	11,341

�� on demand. Other debtors consist of mainly advance payments to partners and contractors for programmatic activities. Grant debtors amount is net of the bad debt provision made against USAID funded grants.

��

Group and charity	Intangible assets		Tangible assets
		Lease	Motor	Equipment
	Software	improvements	vehicles	and furniture	Total
	£000	£000	£000	£000	£000
Cost
At 1 April 2023	8,004	2,464	3,687	3,299	17,454
Additions in year	994	-	316	31	1,341
Disposals in year	(2,274)	-	(515)	(1,282)	(4,071)
At 31 March 2024	6,724	2,464	3,488	2,048	14,724
Accumulated amortisation/depreciation
At 1 April 2023	5,725	615	3,112	2,352	11,804
Charge for the year	1,050	246	321	309	1,926
Disposals in year	(2,274)	-	(505)	(1,264)	(4,043)
At 31 March 2024	4,501	861	2,928	1,397	9,687
Net book value
At 31 March 2024	2,223	1,603	560	651	5,037
At 31 March 2023	2,279	1,849	575	947	5,650

72 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 73

��

For the year ended 31 March 2025 (continued)

11. Group companies

WATERAID TRADING LIMITED Company number 02362892

WaterAid Trading Limited is incorporated in England and Wales (company number: 02362892). WaterAid Trading Limited’s ��

�� Turnover Cost of sales �� Administrative and selling expenses Impairment reversal �� Interest receivable �� Corporation tax Gift Aid to WaterAid under Deed of Covenant Retained earnings b) Balance sheet Non-current assets Investment in associated companies: WEAREGOODGIVING Ltd Current assets Debtors Cash at bank and in hand Creditors Amounts due within one year Net assets Represented by: Share capital	2025 £000 2024 £000 262 526 (8) (14)
	254 512
	(52) (48) - 82
	202 546 3 17
	205 563 - (16)
	(205) (547)
	- -
	2025 £000 2024 £000 182 182
	182 182 103 62 102 264
	205 326 (387) (508) - -
	- -

WaterAid Trading Limited has a share capital of two £1 ordinary shares (2024: two £1 ordinary shares).

�� of a ‘qualifying distribution’.

Wholly owned subsidiaries

��

WATERAID (WASH AND HEALTH) LIMITED Company number 12508779

��

On 10 March 2020, two new companies guaranteed by WaterAid, without share capital, were incorporated in England and Wales for the purpose of funding lotteries. WaterAid holds 100% of the voting rights of each company and has the right to appoint a majority of the board of directors of the companies. In accordance with sections 394A and 448A of the Companies �� the requirement to deliver a copy of the companies’ annual accounts in accordance with these sections.

----- Start of picture text -----
Sisters Merifa (left) and Fanny
(right) collecting clean water in
REGION, Malawi. June 2024.
WaterAid/ Sophie Harris-Taylor
----- End of picture text -----

74 WaterAid UK Annual Report 2024–25

��

For the year ended 31 March 2025 (continued)

12. Fixed asset investments – Group

Wateraid Trading Ltd invested £82k in March 2022 for a 20% shareholding in a new payroll giving company WEAREGOODGIVING Ltd with registered company number 13256341. An additional £100k was invested in February 2023. The other equal shareholders are four other charities. The company was set up in 2021 with an independent Managing Director and three Non-Executive Directors nominated from the charities. In addition to the articles of association, the company governance is established by the Subscription and Shareholding Agreement. There were no distributions in the ��

Cost At 1 April Asset reversal Net book value at 31 March	2025 £000 2024 £000 182 100 - 82
	182 182

��

For the year ended 31 March 2025 (continued)

14. Creditors: amounts falling due within one year

Amount due to other WaterAid members Trade creditors Taxation and social security Other creditors Accruals Deferred income	Group Charity 2025 £000 2024 £000 2025 £000 2024 £000 570 - 570 - 5,384 2,791 5,384 2,791 1,001 1,017 1,001 788 941 184 941 184 2,544 2,346 2,536 2,331 166 203 166 203
	10,606 6,541 10,598 6,297

The deferred income relates to funding received for activities in a future period. The movements in deferred income are analysed as follows:

13. Cash at bank and in hand

Cash and bank balances in UK Cash and bank balances overseas Short-term deposits in UK	Group Charity 2025 £000 2024 £000 2025 £000 2024 £000 26,579 23,895 26,156 23,311 2,799 2,983 2,799 2,983 3,731 4,200 3,731 4,200
	33,109 31,078 32,686 30,494

��

Group and charity Deferred income at the beginning of the year Amounts released from previous years Income deferred in the year Deferred income at the end of the year	2025 £000 2024 £000 203 229 (203) (229) 166 203
	166 203

15. Provision for liabilities and charges

Provision falling due under one year Provisions at beginning of the year �� �� Provisions at end of the year Provision falling due in more than one year Dilapidation provision	Group Charity 2025 £000 2024 £000 2025 £000 2024 £000 1,473 1,444 1,154 1,125 1,643 1,724 1,643 1,724 (1,576) (1,695) (1,575) (1,695)	Group Charity 2025 £000 2024 £000 2025 £000 2024 £000 1,473 1,444 1,154 1,125 1,643 1,724 1,643 1,724 (1,576) (1,695) (1,575) (1,695)
	1,540 1,473 1,222 1,154
	261 20	9 261 209
	261 20	9 261 209

Provisions include end of contract provisions for staff on non-UK contracts and contract retention amounts on programme construction works. Contract provisions for staff include lump sums paid at the end of contract, similar to a pension scheme �� space in the UK at 20 Canada Square, London E14 5NN.

76 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 77

16. Movements in funds – Group and Charity

Unrestricted funds: �� Total designated funds General funds Total unrestricted funds Restricted funds: Bangladesh BurkinaFaso East Africa Region Ethiopia Ghana Liberia Madagascar Malawi Mali Mozambique Myanmar Nepal Niger Nigeria Pakistan Rwanda Southern Africa Region South Asia Region Tanzania Uganda West Africa Region Zambia UK Total restricted funds Total funds	At 1 April 2024 £000 Incom £00 4,901 38	e 0 Expenditure £000 At 31 March 2025 £000 8 (1,968) 3,321
	4,901 388 (1,968) 3,321 21,983 63,409 (66,450) 18,942
	26,884 63,797 (68,418) 22,263
	2,528 4,045 (4,512) 2,061 444 312 (751) 5 4 - (8) (4) 318 1,835 (1,346) 807 1,220 664 (1,379) 505 83 597 (519) 161 276 822 (695) 403 987 1,631 (1,884) 734 500 701 (1,167) 34 (105) 1,975 (1,123) 747 22 - - 22 1,224 1,391 (1,766) 849 (436) 1,299 (844) 19 1,898 3,096 (2,141) 2,853 24 1,551 (1,746) (171) 1,844 1,640 (2,215) 1,269 190 6 (180) 16 120 332 (416) 36 (150) 1,061 (429) 482 1,136 1,656 (2,148) 644 48 - (46) 2 (66) 564 (45) 453 219 3,141 (3,240) 120
	12,328 28,319 (28,600) 12,047
	39,212 92,116 (97,018) 34,310

�� which total £4m (2024: £4m). In accordance with SORP 2019 paragraph 2.15, restricted fund balances may be negative when �� not all the conditions have been met that would justify this income being recognised within the accounts. This results in an excess of expenditure over income on individual restricted funds. It is considered that the likelihood of reimbursement is of ��

The Trustees’ Annual Report explains the main reasons why the group and the charity hold unrestricted funds and the adequacy of these funds at the year end. The reserves policy is reviewed on an annual basis and regularly monitored.

16. Movements in funds – Group and Charity (continued)

Unrestricted funds: �� Total designated funds General funds Total unrestricted funds Restricted funds: Bangladesh Burkina Faso East Africa Region Ethiopia Ghana Kingdom of eSwatini Liberia Madagascar Malawi Mali Mozambique Myanmar Nepal Niger Nigeria Pakistan Rwanda Sierra Leone Southern Africa Region South Asia Region Tanzania Uganda West Africa Region Zambia UK Total restricted funds Total funds	At 1 April 2023 £000 Income £000 Expenditure £000 At 31 March 2024 £000 5,748 674 (1,521) 4,901	At 1 April 2023 £000 Income £000 Expenditure £000 At 31 March 2024 £000 5,748 674 (1,521) 4,901
	5,748 674 (1,521) 4,901 22,847 61,088 (61,952) 21,983
	28,595 61,762 (63,473) 26,884
	1,636 4,275 (3,383) 2,528 495 925 (976) 444 60 - (56) 4 303 2,512 (2,497) 318 612 1,873 (1,265) 1,220 (24) 14 10 0 129 588 (634) 83 (577) 1,765 (912) 276 686 1,978 (1,677) 987 174 1,972 (1,646) 500 852 822 (1,779) (105) 12 247 (237) 22 1,340 1,782 (1,898) 1,224 29 220 (685) (436) 1,431 2,633 (2,166) 1,898 19 1,238 (1,233) 24 1,992 2,062 (2,210) 1,844 (55) 187 (132) 0 359 383 (552) 190 100 180 (160) 120 (157) 557 (550) (150) 1,923 988 (1,775) 1,136 94 56 (102) 48 873 529 (1,468) (66) 1,089 1,313 (2,183) 219
	13,395 29,09	9 (30,166) 12,328
	41,990 90,86	1 (93,639) 39,212

�� which total £4m (2023: £4m). In accordance with SORP 2019 paragraph 2.15, restricted fund balances may be negative when �� not all the conditions have been met that would justify this income being recognised within the accounts. This results in an excess of expenditure over income on individual restricted funds. It is considered that the likelihood of reimbursement is of ��

78 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 79

��

For the year ended 31 March 2025 (continued)

16. Movements in funds (continued)

Designated funds

��

General funds

The Board of Trustees has set a target operational reserve within the general funds to enable WaterAid to meet the potential costs related to any corporate risks materialising. The rationale for these reserves is discussed in the Trustees’ Annual Report and the operational reserve targeted for 2024–25 was a range of £13m–£17m. The balance as at 31 March 2025 was £18.9m (2024: 22.0m).

Restricted funds

�� the fund, together with a fair allocation of support costs in line with the terms of the contract.

Negative balances are carried forward on funds only where further income is considered highly probable in the following year.

17. Analysis of group net assets between funds

	Fixed	Net current	2025 Total	Fixed	Net current	2024 Total
	assets	assets	funds	assets	assets	funds
	£000	£000	£000	£000	£000	£000
Restricted income funds	-	12,047	12,047	-	12,328	12,328
Designated funds	3,321	-	3,321	4,901	-	4,901
General income funds	-	18,942	18,942	-	21,983	21,983
Total funds as at 31 March	3,321	30,989	34,310	4,901	34,311	39,212

18. Taxation and charitable status

��

For the year ended 31 March 2025 (continued)

21. Net movement in funds or net income for the year – Group and Charity

This is stated after charging/(crediting): Amortisation and depreciation Trustees’ indemnity insurance Trustees’ reimbursed expenses Auditors’ remuneration – PwC: Audit – WaterAid UK Audit – WaterAid Trading Limited Audit Gift in Kind �� Exchange loss / (gain) UK operating lease rentals – buildings	2025 £000 2024 £000 2,138 1,926 9 7 28 42 99 108 13 13 62 48 79 80 193 (343) 902 988

Trustees of the charity do not receive remuneration for their services but are reimbursed for travel and accommodation expenses. During the year, 10 Trustees were reimbursed for expenses totaling £28,446 (2024: 14 Trustees; £41,720). Trustee indemnity insurance covers Trustees against personal liability in certain circumstances if legal claims were to be made against them.

�� includes £112k, exclusive of VAT (2024: £81k) for the consolidated statutory audit provided by PwC UK, which also provided

�� funding contracts. PwC provided £nil (2024: £300) of non-audit services to the group.

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity’s �� There was no corporation tax charged for the year (2024: £16k).

19. Company limited by guarantee

The liability of 14 members (2024: 14) of the charity is limited by guarantee to £1 each.

20. Operating lease commitments

The charity had the following future minimum lease payments under noncancellable operating leases for each of the following periods:

Within one year 1–2 years 2–5 years	Land and buildings 2025 £000 2024 £000 956 1,114 1,035 929 2,220 3,448
	4,211 5,491

�� after 10 years.

80 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 81

��

For the year ended 31 March 2025 (continued)

22. Related party transactions

WaterAid, WaterAid America, WaterAid Australia, WaterAid Canada, WaterAid India (Jal Seva Charitable Foundation), WaterAid Japan and WaterAid Sweden are members of WaterAid international, operating under licence from WaterAid international to use the name WaterAid. All these organisations share the same objectives and vision. WaterAid receives funding for its charitable objectives from WaterAid America, WaterAid Australia, WaterAid Canada, WaterAid Japan and WaterAid Sweden. WaterAid has provided grants to support WaterAid America, WaterAid Sweden and WaterAid India in 2024–25 for programmatic, fundraising and organisational development.

Transactions between WaterAid and other member countries of the WaterAid Federation were as follows:

	Received from:		Paid to:
	2025	2024	2025	2024
	£000	£000	£000	£000
WaterAid America	6,117	7,330	2,116	1,042
WaterAid Australia	-	45	-	-
WaterAid Canada	1,779	995	390	-
WaterAid Japan	493	45	100	-
WaterAid Sweden	1,306	1,691	439	460
WaterAid India	-	-	1,122	1,456
WaterAid international	-	80	745	532
	9,695	10,186	4,912	3,490

During the year, WaterAid paid expenses on behalf of WaterAid international of £211k (2024: £197k). At 31 March 2025 the outstanding debtor balance with WaterAid international and other members was £nil (2024: £147k) but the charity owes

�� at £702k (2024: £667k).

Full declarations of interest are obtained from Trustees and Directors for their own activities outside of WaterAid governance as well as those of their spouses/partners and dependants.

Hilary Wild personally donated £250 in 2025 (2024: £nil).

Heidi Mottram is CEO of Northumbrian Water Group. During the year, WaterAid received £92,870 from Northumbrian Water Group Ltd (2024: £103,522). Heidi also personally donated £11,000 in 2025 (2024: £14,009).

��

For the year ended 31 March 2025 (continued)

Transactions between WaterAid UK	Net income	Balance owed	Net income /	Balance owed
and WaterAid Trading Ltd	to charity	to charity at 31	(expense) to	to charity at 31
	£000	March 2025	charity	March 2024
		£000	£000	£000
Trademark – logo	7	-	33	-
Deed of Covenant	(205)	-	(547)	-
Admin expenses	36	-	32	-
Group undertaking	-	379	-	264

23. Financial instruments

23. Financial instruments
Financial Liabilities Cash and cash equivalents Grant receivables Other receivables Accrued income Financial assets Financial Assets Trade creditors Other creditors Accruals Financial liabilities	2025 £000 2024 £000 33,109 31,078 3,290 2,952 1,978 2,225 3,003 4,271
	41,380 40,526
	570 2,791 1,942 972 2,536 2,331
	5,048 6,094

��

��

Alyson Clark personally donated £120 in 2025 (2024: £120).

Peter Simpson was CEO of Anglian Water. During the year, WaterAid received £1,167,469 from Anglian Water Services Limited (2024: £820,765). Peter also personally donated £5,000 in 2025 (2024: £950).

Mala Rao personally donated £600 in 2025 (2024: £940).

Andrew Green personally donated £6,000 in 2025 (2024: £6000).

��

82 WaterAid UK Annual Report 2024–25

WaterAid UK Annual Report 2024–25 83

Aryan (left), Kristina (middle) and Chadani (right) washing their hands with clean water and soap at their primary school in Siraha district, Nepal. June 2024.

Contents

New focus

Rising up the agenda

Witnessing the challenge, and the impact

A wave of support

Our partnerships include...

Wider scale

29.6m

31.7m

Aim 1

Breaking barriers to safe toilets for women in Bangladesh

Empowering decision makers with data in Ethiopia

Enabling women to invest in toilets in Mozambique

Planning for a healthier future with local leaders in Madagascar

Prioritise water, sanitation and hygiene across the health sector to improve public health

Aim 2

Strengthening local ownership of healthcare WASH services in Malawi

Transforming rural healthcare in Zambia using hygiene-focused Kutuba Campaign

Aim 3

Strengthen the resilience of water, sanitation and hygiene to climate change

Building the resilience and equity of water services in coastal Bangladesh

Strengthening Smart Cities in Uganda

Adding WASH to climate policies in Madagascar

Aim 4 Increase the quantity and quality of financing

Adapting advocacy approaches in Burkina Faso

Story of challenge: The struggle for sustainable sanitation ������������������

Decentralising funding decisions in Zambia

������������������������������ Malawi’s healthcare facilities

Resilient Water Accelerator

Looking forward to 2025–26

Aim 1: Achieve universal, sustainable and safe services in focused geographic areas to ����������������������

Aim 2: Prioritise water, sanitation and hygiene across the health sector to improve public health

Aim 3: Strengthen the resilience of water, sanitation and hygiene to climate change

Health

Climate

Our wonderful supporters

Belu Water

Jill Hiatt

Trailblazers

Armani beauty

Glastonbury Festival

������������

People’s Postcode Lottery

RHS Chelsea Flower Show

David Holman

Companies and partners

Philanthropists, trusts and foundations

Legacy givers

Individual and community supporters

Faith-based communities

Zakat contributors

Church donors

Volunteers

Institutional fundraising

UK water industry staff, supply chain and customers of:

Financial summary

Unrestricted funds

Income

Restricted funds

Expenditure

Fund balances

Our values

Safeguarding

Our commitment

Safeguarding activity

Governance

Training and awareness

Strengthening the sector

WaterAid is a member of the �����������

Modern slavery

Diversity, equity and empowerment

Our diversity, equity and empowerment commitments

Activity

Managing risk

Roles and responsibilities for managing risk

Principal risks and uncertainties

People

Data protection

Managing our finance

Story of challenge: The struggle for sustainable sanitation ��

�� Malawi’s healthcare facilities

Aim 1: Achieve universal, sustainable and safe services in focused geographic areas to ��

��

WaterAid is a member of the ��

��

Carbon reduction and energy ��

Report on the audit �� statements

�� statements and the audit

Responsibilities of the trustees for the ��

Auditors’ responsibilities for the audit of the ��

��

��

��

��

��