The trustees, who are also the directors for the purposes of company law, present their report and accounts for the year ended 31 March 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 Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
The Objects of the charity are set out in the Memorandum of Association as being 'to advance education of the public in matters relating to conservation, protection and enhancement of the environment, public safety, and in matters pertaining to those in necessitous circumstances, the elderly, and those suffering or recovering from physical or mental ill health', and any other charitable purposes which the trustees may from time to time determine.
During the year ImaGine, a project that operated as an independent organization within Transition Evesham Vale (“TEV”), was fully incorporated into the operations of the Charity. Residual funds held by TEV but assigned to ImaGine were transferred to the Charity. TEV continues to work as an environmental group and ImaGine supports its work.
The Charity’s work is now principally carried out under the ImaGine trading name. Working within the general objectives of the Charity aims to provide a catalyst for change, working with local communities, exploring sustainability, discovering how we can work together for a healthier, happier, lower carbon future. It looks to foster and nurture relationships with voluntary and civic organisations in and around Evesham and encourage their active use of ImaGine as a place to meet, talk and promote their activities. ImaGine also acts as an information Centre for local environmental organisations. ImaGine is run by volunteers and recycles books for free. Books are free, but small donations are welcomed and are the principal source of new income for the Charity. The donations help pay for the running costs of the facility with any excess funds being passed into WTOF’s grant reserves. This reserve provides small grants to organisations based in the Vale of Evesham for projects aligned to the objectives of the Charity.
The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.
Funds are adequate and available to fulfil the obligations of the charity. Currently all Reserves are Unrestricted and available for the day-to-day running of the company as well as grants to community organisations with objectives aligned to those of the Charity. The unrestricted funds were £32,490 (2024: £32,933).
During the period the charity had net expenditure of £443 (2024: net expenditure of £100,682), of which £nil (2024: £8,638) related to Restricted funds.
The charity currently holds unrestricted reserves at a level that equates to sixty months’ unrestricted expenditure and the aim, which is the policy of the charity, is to reduce unrestricted funds, which are free reserves, to a level that equates to twelve months unrestricted expenditure, by way of distributing discretionary grants. This is sufficient to cover management and administration costs and to fund the objects of the charity and ensure that the Charity can meet its statutory obligations. This policy is under regular review.
The trustees have assessed the major risks to which the charity is exposed. The trustees are satisfied that such exposure is controlled.
The Charity intends to continue to do the work as described in the Objectives and Activities paragraph. There is some doubt as to how long the organization will be able to remain at its current premises. The trustees are working actively with the Local Authority and property owners to find suitable alternative accommodation.
The trustees who are also the directors for the purpose of company law, who have served during the period from 1st April 2024, were:
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees may, through their involvement in other enterprises provide services to entities applying for grant aid. In such instances declarations of interest are made at the start of Board meetings and the respective trustees are excluded from the decision making process regarding those applications.
New trustees are appointed by the members and elected at the AGM.
The trustees receive induction training upon appointment, usually from the Company Secretary,
The charitable company is administered by its Board. The Board should comprise not more than ten persons elected by and from the membership of the charity, and not more than five persons co-opted onto the Board. At every AGM one third of the elected Board should retire.
The Board governs the general policy of the charity, with the administrative work being done by the Company Secretary. Rates of pay for all staff and key management personnel are set by the Board.
Investment powers are governed by the Memorandum of Association and the charity can invest monies not immediately required for its purposes as it sees fit.
Note 17 sets out an analysis of the assets attributable to the various funds and a description of the trusts can be found in note 16. These assets are sufficient to meet the charity's obligations on a fund by fund basis.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Welcome To Our Future (Local Agenda 21) for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare accounts for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these accounts, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Welcome To Our Future (Local Agenda 21) for the year ended 31 March 2025 from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's trustees, as a body, in accordance with the terms of our current engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Welcome To Our Future (Local Agenda 21) and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Welcome To Our Future (Local Agenda 21) and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that Welcome To Our Future (Local Agenda 21) has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Welcome To Our Future (Local Agenda 21). You consider that Welcome To Our Future (Local Agenda 21) is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Welcome To Our Future (Local Agenda 21). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Welcome To Our Future (Local Agenda 21) is a charitable company limited by guarantee, incorporated in England and Wales (company number: 03677986) and a charity registered in England and Wales (charity number: 1075371). Its registered address is Unit 16 Riverside Centre, Evesham, WR11 4BG.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). 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 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 cost convention. The principal accounting policies adopted are set out below.
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 and that there are no material uncertainties about its ability to continue. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
Income is included in the Statement of Financial Activities on an accruals basis.
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 in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants from the government and other agencies have been included within income from activities in furtherance of the charity's objects where they represent reimbursement of restricted fund costs incurred.
Investment income is accounted for on an accruals basis and gross of tax.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it 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 to a single activity are allocated directly to that activity. Shared costs 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.
All expenditure is accounted for on an accruals basis. Charitable expenditure comprises those costs directly attributable to the charity's work.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity. This includes a proportion of staff costs (25%) and other non support costs.
Support costs include 75% of staff costs, as the trustees feel this accurately reflects level of staff activity on each class of expenditure.
Wages are apportioned between restricted and unrestricted funds based on estimated staff time. Rent, rates and insurance are apportioned between restricted and unrestricted funds based on estimated use of office space.
Grants payable are charged in the year when the offer is conveyed to the recipient.
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Liabilities are recognised where there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
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.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Investments
The service charge included management fees due in respect of the management of restricted grant funding received and as permitted under the funding agreements. This was shown as income in the unrestricted activities of the charity and expenditure in the restricted activities of the charity rather than as a transfer between funds as it was considered that this better reflected the nature of the activities of the charitable company.
Use of Facilities
Print, Postage and Stationery
Travel and Other Sundry Costs
Rent
Bird Boxes
Administration Fees
Insurance
Bank charges
Other governance costs
Governance costs includes payments to the accountants of £1,650 (2024: £1,500) for VAT inclusive accountancy/examination fees.
None of the trustees (or any persons connected with them) received any remuneration during the year, nor were reimbursed for travelling expenses (2024 - one was reimbursed £236).
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Income
Expenditure
Income
The Sustainable Communities fund was for a variety of leaflets and pamphlets in aid of improving sustainability among local parishes.
The Bird Box fund was for the provision of bird boxes to be installed in church yards, village halls, schools, hospices and National Trust properties.
There were no disclosable related party transactions during the year (2024 - none).