2025-12-31-accounts

Charity registration number 311348 (England and Wales)

THE WATERBEACH CHARITY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

THE WATERBEACH CHARITY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Mr C Bryant
	The Revd P Butler
	MrA Glover
	Mr J Bielby
	MrsA Evans	(Appointed 18 September 2025}
Charity number (England and Wales)	311348
Registered office	33 Bannold Road
	Waterbeach
	Cambridge
	Cambridgeshire
	CB25 9LO.
Independent examiner	Whitings LLP
	George Court
	Bartholemews Walk
	Ely
	Cambridgeshire
	CB74JW

Bankers	Metro Bank
	Unit 1 Christ's Lane
	Cambridge
	Cambridgeshire
	CB23BZ

THE WATERBEACH CHARITY

CONTENTS

Page Trustees’ report 1-3 Independent examiner's report 4 Statement of financial activities 5 Balance sheet 6

Trustees’ report

Notes to the financial statements

7-13

THE WATERBEACH CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The trustees present their annual report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FR5 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland” and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

The Waterbeach charity distributes its income via 3 charities for the public benefit of the children who attend Church of England schools in the Ely Diocese, to the Church of St John the Evangelist in Waterbeach and to the peopie of Waterbeach parish who may need financial assistance:

The distribution split between three charities as follows:

	2025	2024
Ely Diocesan school funds	57.00%	57.00%
Waterbeach Ecclesiastical charity	0.00%	24,50%	until July 2024
PCC of St John the Evangelist, Waterbeach	24.50%	24.50%	from July 2024
WaterbeachUnitedCharities	18.50%	18.50%

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the cash distribution policy for the year,

The trustees aim to achieve steady income and capital growth to maximise investment returns. The majority of the capital is to be invested in equities of UK and overseas companies operating ethical poticies. Diversity is to be obtained with the investments in property and fixed interest security funds. The whole portfolio is to be managed by one or more professional management companies. Land and property owned by the charity is to be let at the prevailing rate and reviewed periodically within the terms of the tenancy agreements. The trustees have the right to buy or sell land or property for the benefit of the charity if, and when, such a need arises.

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THE WATERBEACH CHARITY

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Achievements and performance

Significant activities and achievements against objectives Key financial performance indicators

Investment performances have been as follows:

	2025	2024	2023	2022	2021	2020
	%	%	%	%	%	%
Charity’s Return (Income + Growth}	(1.00)	5.00	95.00	(8.00)	15.00	9.00
Investment Benchmarks
Average Bank Base Rate	4,27	5.10	4.73	1.41	0.10	0.10
Retail Price Index	4,20	3.50	5.20	13.40	6.30	0.80
FT-SECapitalGrowth	21.51	"5.70	2.40	18.30	44.34	(14.55)

CCLA's total dividend payment of £127,000 was approx. £3,000 more than in 2024. However the capital value of the charity's portfolio reduced from £4.42 million to £4.16 million. CCLA have admitted to under performing this year and are currently analysing their investment strategies.

Review of Activities Unrestricted Funds

Cash grant distributions during the year totalled £139,602 (2024 £134,168) split as follows:

Ely Diocesan School Fund

• £79,573 (2024 - £76,476)

Waterbeach Ecclesiastical Charity/PCC of St John the Evangelist - £34,203 (2024 - £32,871) Waterbeach United Charities . - £25,826 (2024 - £74,821) This represents a neutral performance position (2024 - neutral performance position)

Endowment Funds

The investment portfolio invested in the Church of England Investment and Property funds did not perform as well as prior years, however, they are working on a strategy to improve for the future and conditions are expected to return to better results. The trustees held 2 meetings during the year to consider the affairs of the charity.

Financial review

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies

Reserves policy

The charity distributes all net operating surpluses to the 3 beneficiary charities, except for a £3,000 buffer reserve. As these distributions are made quarterly in arrears, and as any shortfall in funds could potentially be supplemented by realising investments, no further amounts of unrestricted funds are felt necessary to be retained as "reserves".

Major risks

The trustees have assessed the major risks to which the charity is exposed, and, in particular those related to the operations and finance of the charity are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

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THE WATERBEACH CHARITY

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Plans for future periods

Investment holdings in the Church of England Investment Fund continue to be monitored and will hopefully increase the overall returns for 2026.

Structure, governance and management

The Waterbeach Charity is a registered Charity, number 311348, and is constituted under a Trust Deed

The charity was originally established in 1687 from donations of various benefactors for the education of the poor children in the Parish of Watebeach and is listed in 1729 by decree of the commission for charitable use. In 1836 land at Chittering was recorded along with all the other charities in the Parish. In 1865 several charities were consolidated by the Charity Commission and administered under the name of The Waterbeach Charity, In 1904 the charity was split and renamed the Waterbeach Educationai Foundation by the Board of Education Act of 1899. On the 19th July 1983 the charity was established by Trust Deed by transfer of land, investments and cash from the Waterbeach Education Foundation Trust. These assets are the charity's permanent endowment and are held for investment purposes.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr C Bryant

Dr R Williamson (Resigned 31 March 2025) The Revd P Butler Mr A Glover Mr J Bielby Mrs A Evans (Appointed 18 September 2025)

Recruitment and appointment of trustees The procedure for the appointment and recruitment of trustees is laid down by the Charity Commission scheme dated 19th July 1983 and updated by the Rules of Governance approved by the trustees at a meeting held on the 9th March 2010. Each trustee is accepted into office after signing a declaration of acceptance and willingness to act in the trusts of the charity.

induction and training of trustees

The induction and training of new trustees will include the following:

• « provision of the Charity's governing document, and a copy of the annual report;

• • access to the Charity Commission's guidelines for new trustees;

• » mentoring from more experienced trustees;

• • copies of the Charity Commission's latest newsletter; and

• « a positive process of support from fellow trustees

The trustees’ report was approved by the Board of Trustees.

D J Armstrong | Charity Secretary Date: LG Motch deb

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THE WATERBEACH CHARITY

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WATERBEACH CHARITY

| report to the trustees on my examination of the financial statements of The Waterbeach Charity (the charity) for the year ended 31 December 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

| report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. | understand that this has been done in order for the financial statements te provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

{have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.

• 2 the financial statements do not accord with those records; or

• the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.

i have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be vam

1.G.C. Piper, Partner Whitings LLP George Court Bartholemews Walk Ely

Cambridgeshire CB7 4SW Date: Abe Mew - Ab .

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THE WATERBEACH CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2025

		Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
		funds	funds		Funds	funds
		2025	2025	2025	2024	2024	2024
	Notes	£	£	£	£	£	£
Income from:
investments	2	143,427	-	143,427	140,681	-	140,681
Total income		143,427	-	143,427	140,681	-	140,681
Expenditure on:
Charitable activities	3	142,427	-	142,427	140,681	-	140,681
Total expenditure		442,427	-	142,427	140,681	-	140,681
Net gains/(losses) on
investments	6	-	(155,681)	(155,681)	-	91,988	91,988
Net income/(expenditure)
and movement in funds		1,000	(155,681)	= (154,681)	-	91,988	91,988
Reconciltation of funds:
Fund balances at 1 January
2025		2,000	5,004,105	5,006,105	2,000	4,912,117	4,914,117
Fund balances at 31
December2025		3,000	4,848,424	4,851,424	2,000	5,004,105	5,006,105

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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THE WATERBEACH CHARITY

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
	Notes	£	£	£	£
Fixed assets
Investment property	8		685,000		685,000
Investments	9		4,163,425		4,319,106
			4,848 425		5,004, 106
Current assets
Debtors	10	4,681		4,682
Cash at bank and in hand		3,006		2,005
		7,687		6,687
Creditors: amounts falling due within one = 11
year		(4,688)		(4,688)
Net current assets			2,999		1,999
Total assets less current liabilities			4,851,424		5,006,105
The funds ofthe charity
Endowment funds	12		4,848,424		5,004,105
Unrestricted funds	13		3,000		2,000
			4,851,424		5,006,105

The financial statements were approved by the trustees on 04.Wi ateh, 22.26

i ty Mr C Bryant Trustee

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THE WATERBEACH CHARITY

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

• 1 Accounting policies

Charity information

Waterbeach Charity is a registered charity in England and Wales

• 1.1. Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of treland” and the Charities SORP “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of lreland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102,

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cast convention, [modified to inctude the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

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

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

• 1.4 Income income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable irvreiation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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THE WATERBEACH CHARITY

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

1 Accounting policies (Continued} Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not Known, the legacy is treated as a contingent asset.

• 1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, ft is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each. activity. Direct costs attributable te a single activity are allocated directly to that activity. Shared casts which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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

• 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price exctuding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/ (expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Cash and cash equivalents

• Cash and cash equivalents include cash in hand, deposits held at cail with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

• 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously,

Basic financial assets

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

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THE WATERBEACH CHARITY

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

• 1 Accounting policies

(Continued)

Basic financial liabilities

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

Debt instruments are subsequently carried at amortised cast, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of Operations from suppliers. Amounts payable are classified as current Wabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled,

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Income from investments

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Rental income	16,199	16,143
CBF - Property fund dividends	14,892	14,825
CBF - Investment fund dividend	412,336	109,713
	143,427	140,681

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THE WATERBEACH CHARITY

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

3 Expenditure on charitable activities

	Management	Ely	Diocosan	Waterbeach	Waterbeach	Total
	and	School Fund		Ecclesiastical	United
	administrati		Charity/PCC of St		Charities
	on costs		John the Evangelist
	2025		2025	2025	2025	2025
	£		£	£	£	£
Direct costs
Opening deferred grant	-		2,612	1,123	848	4,583
Quarter 1	-		17,670	7,595	5,735	31,000
Quarter 2	-		20,520	8,820	6,660	36,000
Quarter 3	-		18,240	7,840	5,920	32,000
Quarter 4	-		23,285	10,009	7,557	40,851
Closing deferred grant	-		(2,601)	(1,118}	(844)	(4,563)
Clerk's Honorarium	1,000		-	:	-	1,000
Insurance	453		-	-	-	453
Independent examiner's fee	1,104		-	-	-	1,104
	2,557		79,726	34,269	25,876	142,428
Analysis by fund
Endowment Funds	6,512		79,726	34,269	25,876	146,383
Previous year:	Management		Ely Diocosan	Waterbeach	Waterbeach	Total
	and administrati		School Fund — Ecclesiastical Charity/PCC of		United Charities
	on costs			St John the
				Evangelist
	2024		2024	2024	2024	2024
		£	£	£	£	£
Direct costs
Opening deferred grant		1	2,612	1,123	848	4,584
Quarter 1		-	20,520	8,820	6,660	36,000
Quarter 2		.	19,380	8,330	6,290	44,000
Quarter 3		-	17,670	7,595	5,735	31,000
Quarter 4		-	18,906	8,126	6,136	33,168
Closing deferred grant		-	(2,612)	(1,123)	(848)	(4,583)
Clerk's Honorarium	1,000		-	-	-	1,000
Insurance		460	-	-	-	460
Independent examiner's fee	1,050		-	-	-	1,056
Repairs and renewals	4,002		-	-	-	4,002
	6,513		76,476	32,871	24,821	140,681
Analysis by fund
EndowmentFunds	6,513		76,476	32,874	24,821	140,681

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THE WATERBEACH CHARITY

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

4	Net movement in funds	2025	2024
		£	£
	The net movement in funds is stated aftercharging /(crediting):
	Fees payable for the independent examination of the charity's financial
	statements	1,104	1,050

5 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

6 Gains and losses on investments

	Endowment	Endowment
	funds	funds
	2025	2024
Gains/(tosses) arising on:	£	£
Revaluationofinvestments	(155,681}	91,988

• 7 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

8 Investment property

Investment property
	2025
	£
Fair value
At1January2025and31December2025	685,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out in 2023 by Cheffins Auctioneers and Property Valuers. The valuation was made on an open market value basis by reference te market evidence of transaction prices for similar properties.

	2025	2024
	£	£
Schoot Farm Land - 65 acres	640,000	640,000
Town Holt, West - 1 acre Waterbeach	20,000	20,000
Access road off Cambridge Road, Waterbeach	25,000	25,000
	685,000	685,000

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THE WATERBEACH CHARITY

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

9 Fixed asset investments

			Listed
			Investments
			£
	Cost or valuation
	At 1 January 2025		4,319,106
	Valuation changes		(155,681)
	At 31 December 2025		4,163,425
	Carrying amount
	At 31 December 2025		4,163,425
	At 31 December 2024		4,319,106
10	Debtors
		2025	2024
	Amounts falling due within one year:	£	£
	Trade debtors	4,563	4,583
	Prepayments and accrued income	118	99
		4,681	4,682
11	Creditors: amounts falling due within one year
		2025	2024
		£	E
	Accrualsanddeferredincome	4,688	4,688

12 Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

	At 1	January	Gains and	At 31
		2025	losses	December
				2025
		£	£	E
Permanent endowments
TrustDeedPermanentEndowment	5,004,105		(155,681)	4,848,424

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THE WATERBEACH CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

12	Endowment funds			(Continued)
	Previous year:	At 1 January	Gains and	At 31
		2024	losses	December
				2024
		£	£	£
	Permanent endowments
	TrustDeedPermanentEndowment	4,912,117	91,988	5,004,105

13. Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of danations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At 1 January	incoming	Resources	At 31
	2025	resources	expended	December
				2025
	£	£	£	£
General finds	2,000	143,427	(142,427)	3,000
Previous year:	At 1 January	Incoming	Resources	At 31
	2024	resources	expended	December
				2024
	£	£	£	£
Generalfunds	2,000	140,681	(140,681)	2,000

14 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

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