TRUMAN ENTERPRISE NARROWBOAT TRUST TRUSTEES ANNUAL REPORT For Year Ending 31s* March 2025 Registered Number 1037914 Address: 145 Stafford Road, Bloxwich, Walsall. WS3 3PG Trustees: Mr Christopher Rogers Mr Adrian Jordan Mr Michael Clark - (Appointed 10/08/25) Mr David Leaper - (Appointed 10/08/25) Mr David Dunham - (Appointed 10/08/25) Mr Robin Gray - (Deceased 01/10/25) Structure and Management. The Trust is managed by a committee of Trustees, who are appointed at the Annual General Meeting. Each Trust member is elected for three years but may offer themselves for re-election at the AGM. The Trustees have delegated the day to day running of the Trust to a Management Committee. The Trustees recruit Trustees by invitation, having regard to the skills, knowledge and experience needed for the effective management of the Trust. All Trustees and Management Committee members are volunteers and the total number of active volunteers during the year totalled 21. Activities and objectives. The primary aim of the Trust is to provide disabled, elderly, unwell or disadvantaged people in community groups, affordable boat trips on the Staffs and Worcs. canal in the West Midlands in order to improve the quality of their lives, health and well-being. Achievements and Performance 111 trips were made in the year. Many of these were made by previous groups but the Trust was pleased that many new groups enjoyed trips for the first time. We recruited 2 new volunteers in the year, both of whom became fully NCBA qualified crew members. Additionally, 1 volunteer completed the NCBA skippers' course prior to the season commencing and subsequently skippered many trips during the year. The Trust now has 8 qualified skippers, 2 qualified NCBA boat handlers and 8 crew members. 3 crew members have started the Boat Handling at the end of the season. All skippers and crew members attended the pre-season training sessions in March, and the Trust arranged two end of season trips for volunteers, in order to cut back overgrown vegetation on the offside of the canal. In October, a trip was arranged for retired Trust volunteers, and a free trip was arranged for the owners of the Fish and chip shop who have provided excellent service and delivery of fish and trips during the season. The season was not without problems, the engine having suffered intermittent starting troubles, and overheating problems, a broken toilet flush and a significant leak in the kitchen area.
Fortunately, all these faults were rectified over the winter months, ready for the new season in 2025. Financial Review As of 31st March 2025, the Trust was in a healthy financial position. At the beginning of 2024, a new volunteer joined the Trust with the sole job to raise funds to acquire a new boat to replace the existing boat, which is now 46 years old. During the year he successfully raised £24,600 through grants and donations. This has contributed greatly to the overall income for the year, as follows: Bookings Sundry Donations Gift Aid Grants & Donations Bank Interest £11,795 € 1,608 381 € 4,600 € 1,270 Sub Total £19,654 Major Grants £20,000 TOTAL £39,654 Expenditure £14,630 Surplus £25,024 On 31s March 2025, the Trust had funds totalling £75,409. The Trust maintains a general deposit account and a new boat fund account. The new boat fund had £10,929 at 31/03/25 and a further £55,000 held in an 18-month fixed rate bond at 4.55% interest, maturing in May 2026 to generate £3,745 interest. All donations received are transferred to the new boat fund. The Accounts were examined and approved by: Mr Robert Williams, 29 Hall Lane, Burntwood WS70JP Signed C Rogers Chair - Truman Enterprise Narrowboat Trust Date 22/11/2025
Receipts Bookings Donations and sundry income HMRC Gift Aid Grants & Major Donations Interest on deposit account TOTAL RECEIPTS Payments CRT Licence Insurance Moorings Gas, Fuel & Oil Cleaning & Turn-around Repairs & maintenance Replacements & new equipment Training DBS Checks Crew volunteer expenses Accounts Fee Sundry items Bank Interest & Charges NCBA, IWA membership fees Fund Raising Costs TOTAL PAYMENTS NET ORDINARY OPERATIONS EXCEPTIONAL ITEMS National Lottery Grant for new windows etc National Lottery Grant for Blacking Squire Foundation Donation TRUMAN ENTERPRISE NARROWBOAT TRUST FINANCIAL STATEMENT FOR THE 12 MONTHS ENDING 31ST MARCH 2025 " ENTERPRISE" NARROWBOAT 31st March 2025 Enterprise Total E.p 11,795.00 1,608.39 380.73 24,600.00 1,270.61 £. 11,795.00 1,608.39 380.73 4,600.00 1,270.61 £39,654.73 944.70 1,791.79 2,227.68 715.41 38.09 1,181.89 2,816.52 120.00 52.56 2,055.00 100.00 497.40 71.40 0.00 2,017.69 £14,630.13 £25,024.60 2023-24 £19,654.73 944.70 1,791.79 2,227.68 715.41 38.09 1,181.89 2,816.52 120.00 52.56 2,055.00 100.00 497.40 71.40 0.00 2,017.69 £14,630.13 €5,024.60 Total £. 12,250.00 1,083.96 660.88 0.00 1,213.86 £15,208.70 868.38 1760.45 2162.16 849.20 22.56 5776.83 461.52 0.00 0.00 2225.00 100.00 261.59 72.00 264.00 0.00 £14,823.69 £385.01 2,879.00 2022-23 Total £. 6,835.00 4,172.43 767.122 0.00 462.13 0.00 £12,236.68 796.68 1536.10 2052.96 607.18 33.30 282.83 1782.70 410.00 131.34 1410.00 100.00 214.47 72.00 214.00 0.00 £9,643.56 £2,593.12 2023-24 Total f. 12,250.00 1,083.96 660.88 0.00 1,213.86 £15,208.70 868.38 1760.45 2162.16 849.20 22.56 5776.83 461.52 0.00 0.00 2225.00 100.00 261.59 72.00 264.00 0.00 £14,823.69 £385.01 sub-total Aggregated bank accounts as at 31 March 2024 Aggregated bank accounts as at 31st March 2025 20,000.00 25,024.60 50,384.38 £75,408.98 3,264.01 47,120.00 £50,384.38 5,424.00 8,017.12 385.01 39,103.25 £47,120.37 40,146.09 £40,531.10
TRUMAN ENTERPRISE NARROWBOAT TRUST STATEMENT OF ASSETS AND LIABILITIES YEAR ENDING 31st March 2025 Monetary assets Unity Trust Current a/c Unity Trust Deposit a/c Deposit a/c New Boat Fund 18 Month Fixed Rate Deposit Petty Cash A/c TOTAL 31/03/2025 f.p 423.44 9,027.15 10,928.88 55,000.00 29.51 75,408.98 31/03/24 £. 31/03/23 £. 31/03/22 £. 740.69 10,787.02 38,806.67 0.00 50.00 €50,384.38 500.30 12,869.54 25,721.30 0.00 12.11 £39,103.25 263.42 16,266.67 23,615.77 0.00 0.23 £40,146.09 Registered Charity No. 1037914 NOTES TO THE ACCOUNTS Add payments for trips prior 1/04/24 Less payments for trips post 01/04/25 Add National Lottery Grant for new windows £1,160.00 -1,970.00 £1,020.00 (E2879.00 received last financial year. - 50% paid 24-25, bal. paid in 25-26) Representative result 12 months to 31/03/25 £25,234.60 TRUST ASSETS The operating narrowboats and all related fixtures, fittings, tools, equipment and any other such assets are held in trust by the Trustees jointly for the benefit of the Truman Enterprise Narrowboat Trust under the control of Members of its Management Committee so appointed by the Trustees from time to time in accordance with the current Trust Deed. RESERVES POLICY The Trustees have considered the nature of income and expenditure streams and what funds should be held in reserve to meet commitments on both ongoing and planned basis. To allow the charity to be managed efficiently and to ensure that sufficient resources are available to provide uninterrupted services, a general reserve fund equivalent to at least 30% of the charity's operating costs should be maintained. Out of this general fund, amounts are to be set aside for specific expenditure which is envisaged in the next financial year. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records; and - to prepare financial statements which accord with the accounting records or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Accounts presented by Chris Rogers Chairman and Treasurer Date: Gon May 2025 Accounts examined & signed by Mr R.O.Williams, 29 Hall Lane, Hammerwich WS7 OJP Ruinis Date: 28th May 2025
Receipts Bookings Donations and sundry income HMRC Gift Aid Grants & Major Donations Interest on deposit account TOTAL RECEIPTS Payments CRT Licence Insurance Moorings Gas, Fuel & Oil Cleaning & Turn-around Repairs & maintenance Replacements & new equipment Training DBS Checks Crew volunteer expenses Accounts Fee Sundry items Bank Interest & Charges NCBA, IWA membership fees Fund Raising Costs TOTAL PAYMENTS NET ORDINARY OPERATIONS EXCEPTIONAL ITEMS National Lottery Grant for new windows etc National Lottery Grant for Blacking Squire Foundation Donation TRUMAN ENTERPRISE NARROWBOAT TRUST FINANCIAL STATEMENT FOR THE 12 MONTHS ENDING 31ST MARCH 2025 " ENTERPRISE" NARROWBOAT 31st March 2025 Enterprise Total E.p 11,795.00 1,608.39 380.73 24,600.00 1,270.61 £. 11,795.00 1,608.39 380.73 4,600.00 1,270.61 £39,654.73 944.70 1,791.79 2,227.68 715.41 38.09 1,181.89 2,816.52 120.00 52.56 2,055.00 100.00 497.40 71.40 0.00 2,017.69 £14,630.13 £25,024.60 2023-24 £19,654.73 944.70 1,791.79 2,227.68 715.41 38.09 1,181.89 2,816.52 120.00 52.56 2,055.00 100.00 497.40 71.40 0.00 2,017.69 £14,630.13 €5,024.60 Total £. 12,250.00 1,083.96 660.88 0.00 1,213.86 £15,208.70 868.38 1760.45 2162.16 849.20 22.56 5776.83 461.52 0.00 0.00 2225.00 100.00 261.59 72.00 264.00 0.00 £14,823.69 £385.01 2,879.00 2022-23 Total £. 6,835.00 4,172.43 767.122 0.00 462.13 0.00 £12,236.68 796.68 1536.10 2052.96 607.18 33.30 282.83 1782.70 410.00 131.34 1410.00 100.00 214.47 72.00 214.00 0.00 £9,643.56 £2,593.12 2023-24 Total f. 12,250.00 1,083.96 660.88 0.00 1,213.86 £15,208.70 868.38 1760.45 2162.16 849.20 22.56 5776.83 461.52 0.00 0.00 2225.00 100.00 261.59 72.00 264.00 0.00 £14,823.69 £385.01 sub-total Aggregated bank accounts as at 31 March 2024 Aggregated bank accounts as at 31st March 2025 20,000.00 25,024.60 50,384.38 £75,408.98 3,264.01 47,120.00 £50,384.38 5,424.00 8,017.12 385.01 39,103.25 £47,120.37 40,146.09 £40,531.10
TRUMAN ENTERPRISE NARROWBOAT TRUST STATEMENT OF ASSETS AND LIABILITIES YEAR ENDING 31st March 2025 Monetary assets Unity Trust Current a/c Unity Trust Deposit a/c Deposit a/c New Boat Fund 18 Month Fixed Rate Deposit Petty Cash A/c TOTAL 31/03/2025 f.p 423.44 9,027.15 10,928.88 55,000.00 29.51 75,408.98 31/03/24 £. 31/03/23 £. 31/03/22 £. 740.69 10,787.02 38,806.67 0.00 50.00 €50,384.38 500.30 12,869.54 25,721.30 0.00 12.11 £39,103.25 263.42 16,266.67 23,615.77 0.00 0.23 £40,146.09 Registered Charity No. 1037914 NOTES TO THE ACCOUNTS Add payments for trips prior 1/04/24 Less payments for trips post 01/04/25 Add National Lottery Grant for new windows £1,160.00 -1,970.00 £1,020.00 (E2879.00 received last financial year. - 50% paid 24-25, bal. paid in 25-26) Representative result 12 months to 31/03/25 £25,234.60 TRUST ASSETS The operating narrowboats and all related fixtures, fittings, tools, equipment and any other such assets are held in trust by the Trustees jointly for the benefit of the Truman Enterprise Narrowboat Trust under the control of Members of its Management Committee so appointed by the Trustees from time to time in accordance with the current Trust Deed. RESERVES POLICY The Trustees have considered the nature of income and expenditure streams and what funds should be held in reserve to meet commitments on both ongoing and planned basis. To allow the charity to be managed efficiently and to ensure that sufficient resources are available to provide uninterrupted services, a general reserve fund equivalent to at least 30% of the charity's operating costs should be maintained. Out of this general fund, amounts are to be set aside for specific expenditure which is envisaged in the next financial year. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records; and - to prepare financial statements which accord with the accounting records or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Accounts presented by Chris Rogers Chairman and Treasurer Date: Gon May 2025 Accounts examined & signed by Mr R.O.Williams, 29 Hall Lane, Hammerwich WS7 OJP Ruinis Date: 28th May 2025