The trustees present their annual report and financial statements for the year ended 30 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, 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 charity (previously known as the Warden's Charitable Trust) was set up in 1988 with the objectives of the material, mental, physical and spiritual welfare of persons who are suffering from mental illness, arrested or incomplete development of mind, psychopathic disorder, any other disorder of the mind, or physical disability and illness, and the education and material physical and spiritual welfare of young persons. The charity has operated within the objectives of its Memorandum & Articles of Association, progressively expanding its amenities and services to meet an increasing demand.
The charity's objects and principal activities as set out in the Memorandum and Articles of Association are that of:-
The relief of persons who are suffering from mental illness arrested or incomplete development of mind psychopathic disorder or any other disorders of the mind and from physical disability and illness.
Advancement of education and the provision of facilities for recreation or other leisure-time occupation for the young persons with the object of improving their conditions of life and to develop their physical, mental and spiritual welfare.
Such charitable institution or institutions at such time or times as the trustees may determine.
Strategy
Our short term strategy was reviewed during 2020/21, and as previously, during 2024/25 the trustees agreed to:
• Improve facilities within the whole Wardens Trust estate, Avocet flat, main hall and camping in order to increase footfall from our target population.
• Continue to offer services and facilities both within our hall and within the community for lonely and socially isolated individuals.
• To maintain adequate reserves (general and restricted) to finance administration costs and infrastructure.
• To respond to changes in local needs for our target population as they develop, by involvement in local authority Community Partnership schemes.
These aims were reviewed again in light of current and proposed future strategic infrastructure projects local to Wardens Trust (Windfarm projects and Sizewell C).
Evidence of need
Wardens Trust aims to deliver services and facilities to persons of any age who are or might be suffering from mental or physical disability, illness or disorder, and to assist them in their mental and spiritual welfare.
The facilities include a 4.5 acre seaside site in Suffolk, with a main hall and kitchen, a 4 bedroom 12 bed annexe and the Avocet holiday flat for disabled users. There is a large cliff-top camping area outside.
The amenities are only available on a pre-booking basis and are fully described further on the Trust website www.wardenstrust.org
During the year, demand for the facility and the services was high. Our email mailing list of over 200 names and over 60 user organisations is healthy.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Wardens Trust continued to deliver services to young and old, and anyone with mental and physical disabilities.
Visitor numbers in 2024/25 continued to increase. Specialist Bath Day and Lunch Clubs, having restarted in 2023/24, continue to be very well-attended.
The charity's infrastructure funding objective in 2023/24 was the provision of an outside toilet block with disabled access which as been built and commissioned during 2025.
Donations and grants received during the year continue to be a crucial source of income.
Of note this year, we were successful with our application to Suffolk Community Foundation for a grant from the Sizewell C funding pot for improving lives and communities in the surrounding area of this national infrastructure project. In January, we received the first year's funding amount (£41,350) of a 3 year grant, with the second and third tranches to be received on the second and third year anniversary dates. This funding is restricted for the purpose of providing bathing facilities on bath days and lunch club activities for those in need in the community.
Investment income is derived from a share portfolio managed by Brewin Dolphin on behalf of Wardens Trust.
The accounts show a net surplus for the year of £20,503 (2024: a deficit of £7,277). The closing fund balances total £125,086 as at 30 April 2025.
The trustees are confident that the charity remains financially viable given the financial and budgetary framework in place, this alongside accumulated reserves and the investments held, in their opinion supports the plans for the future. These accounts have been prepared on a going concern basis.
The charity's reserves policy is reviewed annually. This is set at approximately one year’s turnover (excluding new developments) plus an amount set aside for business continuity should there be a major issue with the hall not covered by our buildings insurance policy. The reserves policy considers the major risks, financial and reputational to the charity and considers mitigations for those. The Trustees assessed the major risks during 2024/25 and are satisfied that systems are in place to mitigate exposure to the major risks.
Income is mainly derived from fees and grants, but it remains the longer term financial strategy to slowly increase the former so as not to be so reliant on the latter.
The charity's next funding objectives are to:-
a) improve the UK Power Networks electricity supply of the hall;and
b) develop a plan for long term sustainability of the roof of the hall.
Wardens Trust is a registered charity and a company limited by guarantee, incorporated in England and Wales.
The charity is governed by its Memorandum and Articles of Association as adopted on 19 March 2014. The charity was incorporated as a company on 19 March 2014 and started operations on 1 May 2017.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute a maximum liability of £1 in the event of a winding up.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The selection and appointment of trustees is considered by the Board of Trustees and discussed at Trustee meetings when any suitable candidate is put forward.
The trustees report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Wardens Trust (the charity) for the year ended 30 April 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I 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 I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 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; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Wardens Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Beeches, Littlethorpe, Ripon, HG4 3LW.
The financial statements have been prepared in accordance with 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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 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 historic cost convention, modified to include the fixed asset investments at fair value. 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.
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.
Designated funds have been set aside at the discretion of the Trustees for specific charitable activities.
Donations received for the general purposes of the Trust are included as unrestricted funds. Donations for activities restricted by the wishes of the donor are taken to ‘restricted funds’ where their wishes are legally binding on the Trustees.
Income from donations, legacies and grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Donated or gifted goods and services are recognised as income at the point that the economic benefit from the goods or services have passed to the charity and when the amount can be reliably quantified and measured.
Income from charitable activities received represents amounts received for services provided.
Resources expended are accounted for on an accruals basis. Most expenditure is directly appointed to cost categories based on the amount attributable to that activity in the year. Charitable activities costs included costs of preparation of the statutory accounts.
Tangible fixed assets are initially measured at cost and subsequently measured, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Fixed asset investments are initially measured at transaction price excluding 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.
Cash and cash equivalents include cash in hand, deposits held at call with banks.
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, 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.
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 cost, 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 liabilities 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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.
Donated or gifted goods and services totalling £1,787 are included in sundry donations above (2024: Nil).
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during either year.
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.
All listed investments above are held within a share portfolio managed by Brewin Dolphin on behalf of the charity trustees. The shareholdings included within the portfolio with a fair value at 30 April 2025 of more than £2,500 are:
Fil Invs SVCS UK Fidelity Moneybuilder (UK Bonds) £3,926
Jupiter UT Managers Strategic Bond (Overseas Bonds) £3,325
Vanguard Funds (North American Equities) £3,793
MI SEL Managers North America Equities £3,260
Blackrock FM Ltd Cont'l Europe Income D Units £2,743
Schroder Unit Trust Asian Income L Units £2,686
Ishares Physical Gold £3,179
3I Infrastructure Ord NPV £2,776
Investments have been revalued at fair value on a market value basis at the year end, the comparable historical cost was £48,828 (2024 : £61,046).
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Restricted funds have been established with the following purposes:
Bathing days fund - to offer more bathing days support and accessibility for elderly people in the community.
Lunch Club fund - to provide a lunch club and hot meal provision for those in need of support in the community.
Cooker fund - to provide a new cooker for the hall.
Winter Watts Cost of Living community grant - to provide support for heating costs.
Developing a pond area - for the use and enjoyment of visitors.
Developing camping facilities - to build a BBQ and wash room facilities, and enhance the area with bird nesting boxes, benches all to enjoy.
These are unrestricted funds which are material to the charity's activities.
The unrestricted funds of the charity comprise the unexpended balances of donations 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.