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2025-12-31-accounts

VILLAGE TRUST ANNUAL MEETING UPDATE

KEY POINTS coming from last week’s meeting were:

FINANCIAL CHALLENGES . We made another loss last year. And that was after a £3,500 increase in event profits and donations. We also deferred almost all maintenance work and have a list of upcoming repairs etc costing £30-40k even before we have to replace the pavilion roof! We are relying on event income to keep afloat and need to develop more sustainable income streams. Several ideas were discussed and we will be sharing these over the coming weeks.

Many thanks to those who came to the meeting and for everyone’s support at our events.

Mike Robinson – Chair NWVT

NORTH WALTHAM VILLAGE TRUST

Income & Expenditure Report

1 January 2025 to 31 December 2025

5
3
0
0
£24,697.33
0
0
0
0
0
0
0
0
0
£14,106.00
3
6
3
5
1
1
4
8
£3,528.71
9
£1,506.69
6
0
0
6
£1,108.02
£44,946.75
£21,673.00
8
7
1
5
3
8
8
0
0
6
0
0
9
9
9
0
4
3
0
£23,954.90
£45,627.90
(£681.15)
12
months to		 31 December 202 5 Outloo k for Year Var iance Budget for Year Var iance
Income
Expense
£483.50
£125.1
£108.66
£0.0
£225.13
£0.0
£1,713.75
£782.0
£800.05
£245.0
£743.12
£159.2
£530.24
£244.0
£667.81
£188.1		 £3,697.3
£20,000.0
£1,000.0		 3
0
0
£24,697.33
0
0
0
0
0
0
0
0
0
£14,106.00
3
6
3
5
1
1
4
8
£3,528.71
9
£1,506.69
6
0
0
6
£1,108.02		 £3,697.3
£20,000.0
£1,000.0		 3
0
0
£24,697.33
0
0
0
0
0
0
0
0
0
£14,048.50
3
6
3
5
1
1
4
0
£3,515.03
2
£1,483.82
6
0
0
6
£1,026.02		 £0.0
£0.0
£0.0		 0
0
0
£0.00
0
0
0
0
0
0
0
0
0
£57.50
£13.68
7
£22.87
0
0
0
0
£82.00		 £2,100.0
£0.0
£0.0		 0
0
0
£2,100.00
0
0
0
0
0
0
0
0
0
£13,370.00
£500.00
0
£400.00
0
0
0
0
£1,200.00		 £1,597.3
£20,000.0
£1,000.0		 3
0
0
£22,597.33
0
0
0
0
0
0
0
0
0
£736.00
£3,028.71
9
£1,106.69
4
0
0
6
-£91.98
£1,320.0
£681.5
£10,130.5
£295.0
£672.0
£531.0
£256.0
£220.0
£0.0		 £1,320.0
£681.5
£10,177.0
£295.0
£558.0
£497.0
£250.0
£270.0
£0.0		 £0.0
£0.0
-£46.5
£0.0
£114.0
£34.0
£6.0
-£50.0
£0.0		 £1,320.0
£750.0
£9,800.0
£520.0
£150.0
£160.0
£250.0
£220.0
£200.0		 £0.0
-£68.5
£330.5
-£225.0
£522.0
£371.0
£6.0
£0.0
-£200.0
Net
7
£358.3
0
£108.6
0
£225.1
0
£931.7
4
£555.0
1
£583.9
0
£286.2
3
£479.6		 £358.3
£108.6
£225.1
£931.7
£555.0
£583.9
£286.2
£466.0
£5,272.26
£1,743.5		 5
£1,506.6		 £1,483.8 £22.8 £400.0 £1,106.6
£855.3
£0.0
£0.0
£252.6		 £760.8
£0.0
£0.0
£265.1		 £94.5
£0.0
£0.0
-£12.5		 £900.0
£50.0
£0.0
£250.0		 -£44.6
-£50.0
£0.0
£2.6
£44,946.75 £44,770.70 £176.05 £17,570.00 £27,376.75
£2,229.2
£2,485.8
£342.6
£381.2
£2,644.9
£356.4
£180.9
£6,300.0
£3,670.5
£834.3
£1,980.0
£0.0
£187.9
£1,579.2
£314.8
£75.0
£319.3
£12.1
£60.0		 £21,673.00
8
7
1
5
3
8
8
0
0
6
0
0
9
9
9
0
4
3
0
£23,954.90		 £2,229.2
£2,973.0
£692.6
£451.2
£2,754.4
£356.4
£180.9
£6,300.0
£3,670.5
£834.3
£1,980.0
£0.0
£165.0
£1,589.7
£314.8
£75.0
£319.3
£50.0
£65.0		 £21,673.00
8
9
1
5
7
8
8
0
0
6
0
0
0
8
9
0
4
0
0
£25,002.03		 £0.0
-£487.2
-£350.0
-£70.0
-£109.5
£0.0
£0.0
£0.0
£0.0
£0.0
£0.0
£0.0
£22.9
-£10.4
£0.0
£0.0
£0.0
-£37.8
-£5.0

 £0.00
0
2
0
0
4
0
0
0
0
0
0
0
9
9
0
0
0
7
0
-£1,047.13		 £2,000.0
£2,150.0
£300.0
£450.0
£3,200.0
£6,800.0
£100.0
£6,300.0
£3,600.0
£1,000.0
£3,000.0
£1,896.0
£180.0
£1,350.0
£260.0
£50.0
£250.0
£0.0
£60.0		 £0.00
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
£32,946.00		 £229.2
£335.8
£42.6
-£68.7
-£555.0
-£6,443.5
£80.9
£0.0
£70.5
-£165.6
-£1,020.0
-£1,896.0
£7.9
£229.2
£54.8
£25.0
£69.3
£12.1
£0.0		 £21,673.00
8
7
1
5
7
2
8
0
0
4
0
0
9
9
9
0
4
3
0
-£8,991.10
£45,627.90 £46,675.03 -£1,047.13 £32,946.00 £12,681.90
(£681.15) (£1,904.33 ) £1,223.18 (£15,376.00 ) £14,694.85

05/13/2026

Independent Examination Notes North Waltham Village Trust Registered Charity Year Ending 31st December 2025

Direction 1: Check whether the charity is eligible to have an independent examination.

The examiner must check to see if the charity is permitted to have an independent examination or whether it is required to have an audit by charity or company law or for any other reason. If the trustees have chosen to prepare the accounts on a receipts and payments basis, the examiner must check that the charity is eligible for receipts and payments accounts.

The charity is registered at the charities commission under the number 301905, its objectives are the provision of meeting venues and recreational facilities for other organisations in the village and specifically to provide or assist in the provision for the inhabitants of the parish of North Waltham and the surrounding neighbourhood (hereinafter called "the area of benefit") facilities for recreation and other leisure-time occupation in the interests of social welfare, with the object of improving the conditions of life for the said inhabitants.

Its governing document is a standard registration dated 3[rd] of October 1962 and Regulated by Scheme Dated 20 July 1995 Scheme Dated 20/07/1995

It is managed by 10 trustees, of which 5 are newly appointed in 2025.

Key Stats

Key Stats
2025 2024 2023 2022 2021 2020
Gross assets £46,440 £47,121 £52,200 £52,726 £63,429 £52,89
Net Assets £46,440 £47,121 £52,200 £52,726 £63,429 £52,894
Income £44.95k £64.33k £22.17k £24.66k £34.32K £24.58k
Expenditure £45.63k £69.40k £22.70k £35.36k £23.78K £17.76k

A charity is required to have an audit for financial years ending on or after 31 March 2015 if either its gross income exceeds £1m, or its gross income exceeds £250,000 and the gross assets (not net assets) exceeds £3.26m.

If the gross income for the year is £25,000 or less, an independent examination is not required, but the trustees may decide to have one if they wish.

If the gross income of the charity exceeds £250,000, then only persons who are members of one of the listed bodies can undertake the examination.

If the charity is not a charitable company (a charitable company incorporated under company law) then receipts and payments accounts may be prepared provided that the gross income is £250,000 or less and accruals accounts are not required by the charity’s governing document, a condition of funding, or for any other reason. If the receipts and payments option is not available or has not been taken then accruals accounts must be prepared following the applicable SORP.

Independent examination eligible by member of a professional body – Receipts & Payments basis because income is less than £250k and not a charitable company . Trustees have not requested an audit. Mulberry & Co are members of the ACCA.

Conclusion:

Audit eligible although not required – as income below £1m and assets below £3.26m. Receipts and Payments may be used with independent examination.

__________________

Direction 2: Check for any conflict of interest that prevents the examiner from carrying out their independent examination.

The examiner must not be influenced, or perceived to be influenced, by either close personal relationship with the trustees of the charity, being a major donor or having control or significant influence over a major funder to the charity, or through day to day involvement in the administration of the charity being examined. The examiner must ensure that there are no matters and no potential matters that would reasonably give rise to a perception of their independence that would affect their ability to carry out the examination in a wholly objective manner.

There are no known conflicts or related party transactions. We have no professional or personal relationships with the trustees. We do not carry out any other professional assignments for this client.

Conclusion:

There are no conflicts of interest and no associations that prevent us from undertaking this assignment.

__________________

Direction 3: Record your independent examination.

The examiner must keep a record of their examination and the conclusions reached which is sufficient to allow a third party unconnected with their work to conclude that they have followed the Directions (including Directions 1 and 2)

Work undertaken:

Working papers are kept in the client folder electronically and backed up to our main cloud server. All access is via password.

Engagement letters issued 2023.

There were no errors that required adjustment within the accounts.

The accounts did not contain large numbers of adjusting entries

Conclusion:

Our workings and conclusion contained in this report are supported by working papers held on file.

__________________

Direction 4: Plan the independent examination.

In order to plan the specific examination procedures, appropriate to the circumstances of the charity, the examiner must review:

Research carried out to understand the objectives of the charity, reviewed Trustees’ Annual Return and information contained on the Charities Commission website. There has been no change in the nature and scope of the charities activities in the year under review.

There are circa 200 transactions in total covering both income and expenditure. The banks reconcile to the accounts statement.

The records are neat and tidy and easy to follow. Sample testing of randomly selected items will be undertaken.

Conclusion:

My opinion is that inherent risk of error or misstatement is low.

Direction 5: Check that accounting records are kept to the required standard. The examiner must ensure that accounting records have been kept in compliance with the relevant legislative requirements.

Accounting records are kept on computerised Excel accounting package. No change year on year.

The accounting records are easy to follow and are up to date; there is evidence of bank reconciliations being carried out correctly, performed at least annually.

The charity has circa 200 transactions per annum. There are no staff. The majority of income c.90% comes from grants and rents.

There is no evidence to suggest the excel files are not in compliance with any legislative requirements. Indeed, the small number of physical transactions lend itself to a simple transparent style of reporting. We would not recommend any change.

Conclusion:

My opinion is that the charity is keeping the correct records for a charity of this size.

Direction 6: Check that the accounts are consistent with the accounting records. The examiner must compare the accounts of the charity with the charity’s accounting records in sufficient detail to reasonably conclude that the accounts are not materially inconsistent with the accounting records.

Conclusion: Balances on the accounts are reconcilable to the underlying records

Direction 7: If the accounts are prepared on an accruals basis and one or more related party transactions took place the examiner must check if these were properly disclosed in the notes to the accounts.

The examiner must check that the trustees have considered if there were any related party transactions in the reporting period and check whether the trustees have made the disclosures required by the applicable Statement of Recommended Practice (SORP) in the notes to the accounts.

Accounts prepared on receipts and payment basis – no related party transactions in evidence.

__________________

Direction 8

Check the reasonableness of the significant estimates and judgments and accounting policies used in accounting for the types of fund held and in the preparation of the accounts.

The examiner must:

The separate funds have been correctly disclosed between restricted and unrestricted and agree to underlying workings. The accounts are prepared on the going concern basis.

Other items tested above in direction 6

Conclusion: Receipts and payments accounts agree and are correctly stated.

__________________

Direction: 9 Direction 9

The examiner must check whether the trustees have considered the financial circumstances of the charity at the end of the reporting period and, if the accounts are prepared on an accruals basis, check whether the trustees have made an assessment of the charity’s position as a going concern when approving the accounts.

Where accruals accounts are prepared, the examiner must ensure that the disclosures about going concern required by the applicable Statement of Recommended Practice (SORP) are made and that the trustees’ assessment of going concern is reasonable given the available information. In particular the examiner must check if any material uncertainties related to events or conditions that cast significant doubt on the charity’s ability to continue as a going concern are disclosed in the notes to the accounts.

Where either receipts and payments or accruals accounts are prepared, the examiner must consider whether the trustees have assessed what invoices, bills and commitments remain outstanding at the end of the reporting period and whether the trustees have identified if they can settle these as and when they fall due.

The trustees consider the charity as a going concern.

There are no material uncertainties that cast doubt on the continued functioning of the charity.

Direction 10 Check the form and content of the accounts. The examiner must carry out such procedures as the examiner considers necessary to provide a reasonable basis on which to conclude whether or not the accounts have been properly prepared. The examiner must:

Accounts report content and form checked example reports on the charity commission website. No reason to believe the accounts have not been prepared in accordance the required guidelines.

__________________

Direction 11 Identify items from the analytical review of the accounts that need to be followed up for further explanation or evidence.

The examiner must carefully consider if, during the course of their examination, items were found that were material to the accounts which need further explanation or supporting evidence. If the examiner is concerned that the charity’s accounts could be materially misstated, then the examiner must undertake sufficient additional work to be satisfied that any such item has been explained and correctly included in the accounts. The examiner must be alert to any related party transactions that require separate disclosure in the accounts. Where the examiner is not satisfied on any item then the examiner must refer to it in their independent examiner’s report.

As shown under direction 6 there has been no change in the nature or scope of the charity’s activities.

No items were identified as needing additional documentary support.

There is no evidence from our review that the financial elements of the accounts are not consistent year on year.

______________

Direction 12 Compare the trustees’ annual report with the accounts.

The examiner must compare any narrative information or figures in the trustees’ annual report with the accounts in order to identify any material inconsistency between the trustees’ annual report and the accounts

If your charity’s income is under £1,000,000 (and providing it doesn’t have assets worth more than £3.26million), prepare a simple report including:

The trustees’ report is in agreement with the accounts and contains the relevant information

__________________

Direction 13 Write and sign the independent examination report.

The examiner must review the conclusions from their independent examination and then prepare and sign their independent examiner’s report. The content of their report must cover all the matters required by the 2008 Regulations. If the examiner has identified a matter of concern because one or more of the specific matters listed in the 2008 Regulations or in this Direction are present or remain unresolved then the examiner must bring it to the attention of trustees in their independent examiner’s report.

No cause for concern during the examination, nothing has come to my attention. No inconsistencies arose between accounts and the records.

Independent Examiner’s Report to the trustees of North Waltham Village Trust

I report to the trustees on my examination of the accounts of the North Waltham Village Trust Registered Charity (the Trust) for the year ended 31st December 2025.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

Mark Mulberry BA (Hons) FCCA CTA

Mulberry & Co Chartered Certified Accountants Eastgate House Dogflud Way Farnham Surrey, GU9 7UD