Company registration number: 02986417
Charity registration number: 1042227
The Derby & Sandiacre Canal Trust Limited
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 20?4
Communiry Accounting Plu5
Units l & ? North West
41 Talbot Street
Nottingham
NCII 5CIl.

The Derby & Sandiacre Canal Trust Limited
Contents
Reference and Admi"nistrative Details
Trustees, Report
2to6
Independent Examiner's Report
Statemeni of Financial Aaivlties
8t09
Biil&ttEL¥ Shrct
10
Noies to the Finanrial Ststements
I to21

The Derby & Sandiacre Canal Trust Limited
Reference and Administrative Details
Trusttts
Christopher Madoe. Chairn)an
Christopher Richardson
Michael Wingfield
Derek Troughton
Val Clare
Paul Horton-Tumer
Kevin Millcr
Cluisiupli¢t" R¢¢sFitzPatrick
tTrdvid Savidge
Mike Snaith
Cbarity Registration Numbcr
CompaDy Registration Number
02986417
Registered Offic¢
6? Broadway, Duffield
Belper
Derbyshire
DE56 4BU
Indcpettdtnt Examiner
John O'Brien. employee of
Community Accounting Plus
Units l & 2 North West
41 Talbot Sireet
Nottingham
NGI 5GL
P3ge I

The Derby & Sandiacre Canal Trust Limited
Trustees, Report
The trustees, who are dirertors for the purposes of company law, present the annual report together with the
finan¢i&l statements of the ¢haritabl¢ wmptmy for the year ended 31 M&rch •024.
Trustees and oificers
The trustees and officers serving during the year and since the vear end were as follows:
Trustees:
Chrislopher Madge. Chairnian
Lhn"stopher Richar(Ison (aprM)inÉed 28 November 2023)
Michael Wingfield
Derek Troughton
Val Clare
Paul Horton-Turner
Ketrin Miller
Chrisiopher ReesFitzPatrick
David Savidge
Mike Snaith
Advisory Committee member5
Cllr P Watson nominated by South Derbyshire District Council
Cllr Hickton nominated by tkrby5hire Counry Council
Cllr T Scott nominated by Erewash Borough Council
Lllr V Ingalls nominated bv Derty L ity Council (stepped down In May 7023)
Cllr H Dhindsa nominated by Derby City Council (appoinled in May 2023)
Cllr C Pvulirr iiUiEIi114Lrd by D¥tby Cily Cuwi¥Él {￿trVvrd duwii iii Mdy 2023)
Cllr K Morgan-McGeehan nominated by Derby City, Council (appointed in May ?023. stepped down May 2024)
Cllr M Rawson nominated by Derb). Citv Council (appointed in Mav ?0?4)
Maggie Throup MP
Struc¢ur¢i governancc alld ￿a￿agr￿¢tht
Nathre olgoverning documenl
The Derby and Sandiacre Canal Tn]st Ltd is a company limited by guarantre and a registered charity. It 15
operated under the rule5 of its memordnthjm and articles of association daied 311111994 which was most
recently amended on 10141?019. It h&$ no share capital and the liability of each subscriber in the event of
winding-up is limited to £1.
RrcrHith•enl and uppoinlm¢HI vflrMJ¢ees
In accordance with Article 16 of the new Constitution, a third of all Directors retire at the Annual General
Meetinu an d being eligible, offer themselves for re-election.
New Directors are invited to join the Tn￿te¢S based on their knowledge and experience of the canal project and
thcir appointsiiciits ai¢ subjriL LL> aPViUV<il ai tlir Aiiiiual Getl¢Eal Nl¢etiJig.
In addition to the Directors, Advisory Committee Members are appointed by the Four Local Authorities on an
annual renewable basis b¢ing drawn from Councillors andlor Senior members of stsff. or by the membership of
Restoration Partners.
Page 2

The Derby & Sandiacre CaDal Trust Limited
Trustees, Report
Major risks and management ofihose ris
Risk management
Major risks to the Trust have been reviewed and svstems and procedure5 with comprehensive insurance put into
place to manage those risks, including regular revie￿, at Board meetings. Major changes are commuiiicated to
the Board at monthly meetings and to th¢ Advisory Commiitee quarterly.
A ko, risk is that two sections of the canal line olvned by the Trust are in Thvter and the Trust is aware of its land
drainage responsibilities to avoid fl(ioding of neighbours. The risk 15 manaoed by periodlc Inspeciion and
leardnce of drainage channels and will be eliminated bi, the completion of the full restoration.
In view of the increasing complexity in operations the Trust continues to seek external financial, legal and
engineering expertise to mitigate risks. The Trust is also aciively seeking and finding additional volunteer
expertise to ensu￿ its work and use of fill)ds is effective and undertaken with minimum risk.
Finydncial review
The Statement of Financial Activities for the year is set out within the financial statements. A Summi￿ of the
financial results and the work of the Charffiry is set out below:
Policy on reserves
The Trust generdl reserveq currenily stand at £279.590. but much of this is represenfrd by investment in fixed
assets. The Trust aims to maintain a general reserve of cash of around £50.000. The reserves are set to enswe
that we Can meet Possible liabilities when they fall due, maintain our quiptnent and provide a funding buffer to
allow the Trust to take advantage of small unforeseen oppornmiiies, such &$ land purchase. a5 they occur.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectaiion that the Trust has adequate
resources to continue in 0￿ratIonal exis(ence for the fore5erable future. For this reason they continue to adopt
the going concern basis in preparing the financial statements.
nhjeetivos gnd xetivities
Objects and aims
The objective of the Tr￿$1 is to restore the fomier Derby Canal Wdtenvay from the Erewash Canal at Sandiacre
to the Trent and Mersey Canal at Swarkesione via central tkrby. as close as possible to the original rout¢.
thereby connecting Derby to the national canal network. In completing this objective. the .1 rust and its partners
will seek to maximise the impact on the communiry's quality of life. primarily bv encouraging active use of the
W4l¥rw4ly by iiidÉvidu&ils ¢ind Llubs 4ttid ¢iraliii¥ luid iiiaiiitaijiiiig a wat¢r b<￿ed ¢iiviioiiJii¢iit that will support
and encourage wildlife and the wider environment. This will also generate 5UStainable economie developinenL
job creation through iourism and 5POrts, and educational. heritaue and leisure benefits for the City of Derby. the
Borough of Erewash, South Derbyshire Distrirt and the East Nlidlands region generdlly.
The Trust seeks io be the catalys( not only for the canal restordtion but also for the enhancement of the
neighbouring land corridor, in partnership with local authorities, landowiers, community and volunteL'r groups,
developers and all neighbours and residents.
Page ?

The Derby & Sandiaere Canal Trust Limited
Trustees, Report
Achievements and Perfonnance
Progress has been focussed on the west-east leg of the restoration over the last year, while the TTUSt awaits
progress with developers at Chellaston with the 5,000 homes garden village development alongside the canal.
The T￿st has continued to be active in maintaining our assets including the owned sections of canal path at
Spondon, Borrow&sh. DrdyCOtL Breaston and Sandiacre. In particular, sections of canal wall have been
reconstructed by volunteers at Borrowash.
During Stonn Babet in October the Tn￿t expeTienced flooding to a depth of l?Omm in the three residential
properties ai Draycott. The Tru￿ received an insurance cash se(tlemenE which through The substantial ¢(fvris u(
volunteers working in place of paid contraciors enabled the cottages to have floor tanking installed throughout
and flood dcfcnccs implcmcntcd as well as restoration ivork completed. Work was also undertaken to assist
flows of flood water awdy from the properties to preveni a repeat of flooding in the future. This has disrupted
the tenkncies, hut all wnrk wa.4 cnmpleted in April and properties are now back on the market or already rented.
We are pleased to note thai the flood was so shallow and short lived that the cafe was not flooded and Lontinued
to trade for all but a day.
Our new volunieer civil engineer h&$ fiilly reviewed our approach and highlighted options io use canals for
water movement and flood Prevention in concert with other interested partie5. We are looking to develop these
options for the community s wider benefii. We have continued to devote 5ubstaniial effort in preparing to
If5toic thc Goldcn Milc iii Drayrotl but whi15t 5tudi¢s hdV¢ b¢¢n compl¢t¢d thc opportunity outlincd abov¢ will
see completion delayed again.
Poge 4

The Derby & Sandiacre Can41 Trust Limited
Trustees, Report
During the last year we have also been able to PTomote our works more actively in the community by attending
local shows and dtscribino
tlic cliallciigc5 and suc¢¢ss¢3 (pf the proj¢¢t ovcrall and s¢ction by scction. Wc havc
received growing support from the public. local authorities and corporates for our work.
The Derby Riverboat has also Continued to generate income by operdting over the past summer with sailings
well supported by the public and volun￿er crew5 The City Council have reviewed the cost of licencing,
although not as much as we feel appropriate. There has been little progress on a new pontoon. which will
provide full wheelchair accessibility onto the boat. The City Council commissioned further engineering analysis,
which meant they no longer had the budget to build the pontoon. We currently await confirmation ot. the
shortfall and intend to raise these funds by grants or COTporate suppor( Mthen ive have confirmation of how
iu¥h ib W¥ air 4twarc olpulcnliÉil pdss¢n¥rD upsrl al iiuL piuvid&iI￿ d fully aiirssibl¢ opcration. but at
least we have the council's stated support for the project. We aim to deliver this as quickly as p055ible.
We continue to pre&s on with proposals for the Ikrby Ami and Derby city centre developments and are
dis¢ussin£ with other interested parties how to integrate our proposals in the city with the flood defences
programme. Fonnal fora have been set up the Council and other stakeholders ￿ promo* joined up thinking
for the city. Again, the council are supportive of our aims and opwrtunities.
At Sandiacre lock we expect a costed proposal for the sewer relocation during the summer and then. fiinding
permittin& will be moving to complete the iTrorks il'ithout delay.
In th¢ last f¢w months aftcr thc balancc sh¢ct date, we have su¢¢essfvlly completed the purCh￿e of canal path
land from Sustrans and a local farmer. A further and final a¢qui5ition of land from Sustrdns is under discussion
and we hr>pe tn cnmplete th2t in *n24. Thiq wnuld gTN'e an almost complete length bettveen Draycott and the
Erewash canal. We are now planntng the restordtion of the winding hole at Draycott withkn this acquired land,
which will also act a s a flood management option at Draycott.
The Trust continues to be indebted to the arniy of volunteers who have attended working parties. or (lealt with
administralion. tiindrdising. organising meeling% nego(]ating with suppliers, planners, council officers, etc. etc.
Without these people the Trust simply could not fvnction effectively.
Statement of Responsibilitits
The trustee5 (who are also the directors of The Derby & Sandiacre Canal Trusi Limited for the purpose5 of
ompany law) are responsible for preparing the tn￿tee5, report and the tinancial statements in accordance with
applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Aticounting
Pi<iiLiir). illLludiii¥ FRS 102 "Th¥ Fin¢lll¥liil Rvpvrliii￿ S(iliL¢Jdid ÉipyIiLÉiblr iii UK ￿ld Rrpublii of IrCl￿1d,
The report and accounts have been prepared in accordance with the provisTrons in the Companies Act 2006
relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company law
tli¢ trust¢C5 111115t iiot appiuvr Llir fiii<uiiial 5tat¢iii¢iits wi1¢55 arc 54tl5fi￿ tiiat t]icy 8LVC a truc and fair vicw
of the State of affairs of the charitable compan) and of the incoming resources and application of resources,
including its income and eypenditure. of the charitsble company for that period. En preparing these finanelal
ststements, the trustees are required to:
select suitabl¢ accounting polici¢s and apply them conststently;
observe the methods and principles in the Chartiies SORP;
rnake judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards. comprising FRS 102 have been followed, subject to any
material departures disclosed and explained in the financial statements; and
ges

The Derby & Sandiacre Canal Trust Limited
Trustees, Report
prepare the financial statements on the going concern basis unless it is inappropriate to P￿sum¢ that the
choritsblc cornpany will ioiitiiiuc iri busiiirs5.
The trustees are responsible for keeping proper accountints Tecords that can disclose reasonable accuracy at
any lime the financial p)sition ot the charitable company and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also resw)nsible for safeguardtng the assets of the charitable
company and hence for taking rca50nable steps for the prcvcntion and detection of fraud and other irregularities.
The trnstees are responsible for the maintenance and integrity of the corporate and financial inforniation
included on the charitable company's website. Legislation goveming the preparation and dissemination of
financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 27
.24and signed on its behalf by:
Chnstopher
T￿￿tee
, Chaiman
Pa8¢ 6

The Derby & Sandiacre Canal Trust Limited
Independent Examiner's Report to the trustees of The Derby & Sandiacre Canal Trust
Limited ('the Company,)
Independellt examiner's report to the trnst¢es of "I"he Derby & 58ndiacre C8n41 I"rnst Limited {'the
Company,)
I report to the charity twstees on my examination of the accounts of the company for the year cnded 31 March
2024.
Responsibilities and basis of report
Ag the Charity's trustee5 of the Company (and also its dir¢¢tors for th¢ purposes of company law) you are
responsible for the preparation of the accounts in accordan¢e with the requirernents of the Companies Act 2006
(-the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examinaiion. I report in respect of my examination of your charity's
accounts as carried out under seciion 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my
examlnaiion I have followed the Directions given by the Chariry Commission under seciion 145(5)(b) of the
2011 Act.
Independent eigminer's statement
I have rompleted nry examination. I confirni that no Tnattrr5 have comc to My attention in conneLtion with the
examination giving me cause to believe that in any material respect-
accounting records were not kept in respect ot-the Company as required by section 3S6 ot.the 2(￿6 Act. or
2. the accounts do noi accord with those records. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Acf other than any
requirement that the acenuntq give A 'true And faie view which is not a matter considered as part of an
independeni examination; or
4. thc &ccounts hav¢ not bccn prcparcd in accordonce the mcthod5 and prin¢ipl¢s of the Sthiem¢nt of
Recommended Practice for accounting and reporting by chariiies lapplicable ro charities preparing their
accounts in accordance with the Financial Reporting Sthndard applicable in the UK" and Republic i)f Ireland
(FRS 102)].
I have no ¢on¢ems and have come across no other matters in connectton with the examination to which attention
should be drdwn in this report in order to enable a proper understanding of the accounts to be reached.
riern Msc. FAIA. FCC,4. FCtE. employee of Communiry Accounting Plus
Fellow. of the AssociaEion of CharÈty Independent Examiners
Units l & 2 North West
41 Talbot Street
Nottingham
NGI 5GL
0811112024
Poge 7

The Derby & Sandiacre Canal Trust Limited
ststement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
aDd Losses)
Total
2024
Totgl
2023
Unrestricted
Restricted
Note
Income and Endowments from:
Donations and legacies
Charitable activities
Investment income
Other income
3,407
77.276
8.860
50,165
8.114
74.293
8.860
50.165
2.983
3.984
49,960
Total Income
136.725
2.98i
139.708
75.412
E%penditure on:
Charitable activities
(73.135)
{39,859)
(112,994)
{99.090
Totsl Expenditure
(73.1 J5)
(J9,859)
(112,994)
99.090
Net income/{expenditure)
63.590
(36.876
26.714
(23.678)
Net movement in funds
63.590
(36,876)
26.714
(23.678)
Reeoncili2tion of funds
Total fun(b brought forward
?16,000
316,858
55? 858
556,536
Total funds carried f0rn7rd
13
279.590
279,982
559,572
532,858
All of the charity's actii'ities derive from continuing operations during the above two periods.
The funds breakdown for the period is shoMm in Dote 13.
The notes on pages I I to 21 form an inle￿￿ part of the* financial statements.
Pase g

The Derby & SaDdiacre Canal Trust Limited
Statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrtslri¢ted
funds
Restricted
funds
Total
2023
Note
Income and Endowments from:
Donations and legacies
Charitable activitÈes
Investment income
Other income
8,114
9.631
3,984
49,960
8.114
3,723
3,984
49.960
Total income
71.689
3,723
75.412
Expenditure on:
Charirable activities
(47.511)
(51,579
(99,090)
Total expenditure
(47.511)
(51,579
(99.090
Net income/(exp¢nditure)
Transfers between fimds
24,178
(1,792)
(47.856)
1,79?
(23,678)
Net movement in funds
22,386
{40,064)
(23,078)
Reconciliation of futtd$
Totsl funds brought forward
193.614
362.922
556.536
Total funds Ca￿led forward
13
216,000
316,858
532,858
The notes on pages I I to 21 fom) an Inte￿ part of th financial statements.
Page 9

The Derby & Sandiaere Canal Trust Limited
(Registration number: 02986417)
Balance Sheet as at 31 March 2024
IU24
2023
Note
Fixed assets
Tangible as5¢ts
692.493
693,783
Current assets
Debtors
95.921
139.369
Invesiments
Cash at bank and in hand
io
416,?05
3J4,688
512.?26
474,157
Creditors: Amounts falling due within one year
Net current assets
{21,824
{11,759)
490.40?
462,398
Tot#1 #5sets less curreDt liabilities
.18? 895
.156,181
Creditors: Amounts falling due after more than one year
12
(623,323
(623.323)
Net
559.57?
532,858
Funds of the charity:
Restricted income funds
Restricted funds
13
279,982
316.858
Unrestrieted ineomt funds
Unrestricted funds
279,590
216,000
Total funds
53?.858
For the financial year ending 31 Mar¢h 2024 the charitiT w&s entitled to exemption from audil under section 477 of the
Companies Aa 2006 rela11n￿ to small companies.
559,57?
Directors, rcsponsibilities=
The memb¢r5 have not required the charitv to obtain an audit of its accounts for the ¥ear in question in accordance With
se¢iion 476: and
The direthors ￿knOwledge their responsibiliiAes for ￿MPl).1n8 with the requirements of the Act 54'ith regpect to
accounting rccords and the preparation of accounts.
These financial slatements h&ve been prepared in occordance with th¢ sp¢¢ial provisions relating to companies
subject to the small companies regime within Part 15 of th¢ Companie5 Act ?006.
The financial statements on pages 8 to 21 were approved by the tmstees. and authorised for issue on
ZA.1
. and signed on their behalf by:
opher Richardson
Trustee
The noies on pages I I to 21 forni an intrgrdl part of thw financial statements.
Page 10

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
l Accounting policies
Summary of significant aecounting poliri¢s and ke> aeeounting estimates
The principal accounting policies applied in the preparntion of these financial statements are set out below.
These policie5 have been consistently applied to all the yfdrs pre5enɢd, unless othmvise sthted.
Statement of complianeo
The financial slatements haTr"e been prepared in accordance with Accounung and Reponing by CharitiC5:
Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the
rinancial Reporting Standard appli¢able in the iiK and Rcpublic of Ircland (FRS 102)) (issued in October 2019)
(Charilies SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) 8nd the Companies Act 2006.
B25is of prtP2Tation
The Derby & Sandiacre Canal Trusi Limited meets the definition of a public benefit entity under FRS 102.
Asbets and liabilities are initially recognised at historical cost or tyansaction value unless othcrwise ststed in thc
relevant accounting policy notes.
Going concern
The financial slatements have been prepared on a going concern basis.
Thc tru5lCe5 &sses5 wh¢ther the usc of Lull¢¢￿1 IS appwpiia* i.r. wlRrdJrr di¢rc arc inatcrial
uncertsinties related to ¢vent5 or conditions that may cast significant doubt on the ability of the Lharity to
continue as a going concern. The trustees moke this ￿seSsment irt respect of a period of one year from the date
of approval of the financial statements.
EJemption from prep9riDg a cash flow statement
Under Ihe exempiion available to smaller chariiies the Board of Trustres has chosen noi io includc a StsLrmrnl
of Cash Flows within thc financial slatements.
Income and endowments
Voluntary income including donations. gifts, legacie5 and grants that provide core ￿1)ding or are of a general
nature is reCogni￿d when the charity ha5 entitlement to the income. it is probable thai the income will be
received and the amount can be m¢￿Ured with sufficient reliability.
Donations and legaeies
Donations are recognised when the charity has been notified in BTit7ng of both the amount and settlenient date.
In Ihe ever]E th8T a donaiion is subject 10 condiiions thai require a Icvel of p¢rforn]anGe by thc chiwiiy t?¢fvrr Llir
charity is eniitl¢d to the funds, the income is defeTred and not recognised until either those conditions are fully
met, or the fulfilment of those conditions 15 wholly within the control of the chariry and it is probable that these
cond&tions will be fulfLll¢d in the r¢porting period.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend
due.
Pa8ell

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Ststements for the Year Ended 31 March 2024
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable
settlement is rcquircd and the amount can be measured reliably. All costs are allocated to the applicablc
expenditure heading that a￿￿regate similar costs to that category. Where costs cannot be directly attj-ibuted to
particular headings they have been allocated on a basis consistent with the use of resources. with central staff
costs allocaied on the basis of time spenL and depreciation charges allocated on the portion of the asset'5 use.
Other support costs are allocated based on the spread of staff costs.
Charit8ble activities
Charitable expenditure comprises those Costs incurred by the charity in the delivery of its activities and services
for its beneficiaries. It includes both costs that ¢an be allocated directly to such activities and those COSLS of an
indirect nature necessary to supry)rt them.
TaAation
The charity is Considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a charitable wmpany for UK corporation tax purposes. Accordingly. the
charity is wtentially exempt from taxation in respect of income or capital gains received within categories
covered by Chapter 3 Part I l of the Corpordtion .4ct 2010 or Section 256 of the Taxation of Chargeable
Gains Act 1992, to the extent that such income or gains are applied eXcE￿51VelY to charitsble purposes.
Tangible fixèd Assets
Individual fixed assets are initially recorded at cosl less any subsequent accumulated depreciation and
subsequent accumulated impaiment losses.
Depreclarfon and #mortisation
Depreciation is provided on iangible fixed &gsets so as to write off the cost or valuation. less any estimated
residuul voluc, ovcr th¢ir cxpcctcd uscful cconomic lifc as follows..
Asset elass
Plant and machinery
Land & Buildin&s
Depreciatiokn method and rate
250/0 reducing balance
Nnt depreciAteA
Current gss¢¢ iMves¢m¢nts
Current asset investments are included at the lower of cost and net realisable value I market value.
Trade debtors
"I rade debLors are amounts due from customers for merchandise sold or seniices perfornied in the ordinary
course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost
the effective interest method. less provision for impairnieni. A provision for the impairment of trade
debtors is established w'hen there is objective evidence that the charity will not be able to collect all amounts due
according to the original terms of the re¢eivabl<s.
Page 12

The Derby & SaDdiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Cash and cssh equii'alents
Cash and cash equivalents comprise ¢&sh on hand and call deposits, and other short-terni highly liquid
investments that are readily convertible to a kn(ywn amount of and are subject to an insignificani risk of
change in value.
Trade creditors
Trade creditors are obligations to pav for goods or service5 th3t have been acquired in the ordinary course of
busine55 from suppliers. Accounts payable are classified as current liabilitie5 if the chariry does not hai'e an
unconditional right, at the end of the rewrting peTio¢ to defer settlement of the creditor for at leasi twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least nvelve months
after the reporting da*, thcy arc prcsented as non-currcnt liabilitics.
Trade creditors 8re recognised initially at the IraT￿CtIOn price and siibsequently measitred Al 8mnrtkRed cnqt
using the effective interest meth¢xl.
Fund structure
Unr¢striLlrd inLotnc funiL5 are general fi￿{L5 thai are available for use at the trustees, discretion in furthcrantt of
the objectives of the charity.
Kestncted income tunds are those grants tor use in a particular arva or for specihc purposes, the use of which is
restricted to that area or purpose.
2 Ineome from donations and legaieies
Unrestricted
fullds
General
Total
2024
Total
2023
Donations
Donations from tndividuals
Gift aid reclaimed
1,870
1,537
1,870
1,537
5.520
3,407
3.407
8.114
3 Income from charitable aelivities
Unrestricted
fuiids
General
R¢5tric¢¢d
funds
Total
2024
Total
2023
Grants & donations
Memberships
Contract Work
FLkndraisin
3.723
7.581
7.008
1.700
770
7.008
1,700
770
768
Sales
Insurdnce claims
165
64,650
165
67.633
1.282
2,983
74.293
2.983
77.276
13.354
Pnge 13

The Derby & Sandiaere Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
4 Grants & donatiolls
Unrestricted
fund5
Restricted
runds
Total
Gift Aid
,537
1.870
1,537
1.870
Other donations
3.407
3.407
5 Investment income
Unrestrieted
funds
Genernl
Total
2024
Total
2023
Interest receivable and similar income;
lln￿est receivable on bank dep)sits
8,860
8.860
3.984
6 Other iDcome
Llnrestricted
funds
eDeral
Tolal
21124
Total
202J
Renthl income
50.165
50.165
49.960
Poge 14

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
7 Expenditure on eh*ritable acti￿￿tieS
Unrestrieted
fund5
General
Restricted
funds
Total
2024
Total
2023
Ad[ninis￿&t1vC COSLS
914
914
977
Bank charges
L)epreciation
Rent and rates
Loan interest payments
River boal
Fund transfers
Legal and professional
Equipmeni replacement
Canal maintenance
Sundry
Utiliti¢s
106
1.290
554
17.532
106
1,290
554
17,687
98
1.-120
555
18,277
1.779
155
{6.133)
8,050
2.615
6,133
12.736
20.786
?.615
41,289
4,438
272
781
1.239
915
1.239
1.069
Marketing & publicity
Lock rebuilding
Draycott Golden Mile costs
Fundraising costs
Magazine ¢05ts
Training
Insurance
Licence and pemiits
Suhqcriptinn
Planning costs
Cottages renovotkon ¢osts
Property maintenance
Fliiud
Social events
Monthly itraw prizes
Packet production costs
Property rental expenses
Canal maintenance
154
930
5,155
4.500
304
316
4?0
6.637
2.700
16,849
16,849
400
6.467
115
573
6.467
115
73
240
io
250
352
120
120
1,403
2,327
3,087
31,475
200
354
861
1,087
1.074
338
3,425
31,475
386
354
861
1.087
4.37?
186
i?0
3,740
73.135
112,994
99,090
Pase IS

The Derby & Sandia¢re Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
8 Tangible fixed assets
Land and
buildings
Plant &
machinery
Tolal
Cost
At l April 2023
708.624
20.426
729.050
At I l March 2024
708.6?4
729.Q.Sn
Depreciation
At l April 20?3
Charge for the year
20,(K)O
15.?67
1,290
35,267
1,290
At 31 March ?024
?0.000
16,557
36,557
Net book value
At 31 March *024
688.6?4
3,869
69?.493
At 31 March 2023
688.624
5.159
693.783
Included within the net book value of land and buildings above is £688.624 (?023 - £688.624) in respect of
freehold land and buildings and £Ntl {2013 _ £Nil) in respect of leaseholds.
Pagc 16

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
9 Debtors
2024
2023
Trade debtors
455
Due from group undertakings
Prepaym¢nts
Other debtors
990
4.850
90.081
49,711
979
88.224
139,J69
10 Current asse¢ investments
2024
2U2J
Shares in group undertakin85 and participating interests
100
100
11 Creditor5: amounts falling due within one year
2024
2023
Trade creditors
10,375
6.430
S,019
4.645
6.430
684
Other loans
Accruals
21.824
11.759
12 Creditors: *mouots fslling dut #fter one year
2024
2023
Other loans
62J,J23
623.323
Other borrowings
Loans from supporters with a carrying gmount of £611.NJO (2023: £611:000) denorninated in gterling with a
nominal interesi rate of 30/0 (2023: 30/0).
The loans are interest only and the principal ¢an be called in on or after 30 June 2026.
Bank borrowings
Bounce back loan ts denominated in sterling with a nominal interest rdte of 2.50/. (2023: 2.50/0), and the final
instalment is due onl December 2027. The carrytng amount at year end Is £18.753 (2023: £25,183).
CapiL31 is repayable in 60 monthly in5talmenT5 of £5J5.8*
Page 17

The Derby & Sandiaere Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
13 Funds
Balance at I
April 2023
Incoming
resouree5
Resourees
expended
Balance at 31
March 2024
Unrestricted funds
General
General Fund
216.000
136.725
(73.135)
279,590
Restricted funds
Borrowash Lock Tmprovements
Sandiacre Lock Fund
Draycott Golden Mile Project
River Boat Fund
Co-op S&S Equipment Fund
Derby Waterside Study
Draycott Cottages Fund
So¢tal Mcetings Fund
Eddy's Bench
W<(Irr Voles
1,164
108.498
19),070
696
(861)
{240)
{21.209)
(696)
(2,841)
(8,000)
{5,049)
{186)
(478)
(299
303
108.258
168,861
2,983
2.381
8,000
5.049
305
119
478
359
60
Total restricted funds
2,983
(39.859)
179,982
TotAI fund$
532.858
559.579
The specific purposes for which the fi￿d5 are to be applied are as follows:
BU￿ow8sh Lock Improvements: "l o enable works on Borrowash Lock.
Sandiacre Lock Fund: To enable works to excavate Sandiacre Bottom Lock.
Draycott Golden Milc Projcct- To ioiiv¢it ¢1 314 ￿111￿ drdinag¢ diich ￿ a navigable canal.
Rlver Boat Fund.. To establish a River Boat on the DerwenL
The C(Fop S&S FAJiiipment Fund is from several local C¢>op stores to fimd cxp¢ndtiurc on cquipni¢iit to
maintain the canal path in the S8ndiacre to Spondon areas.
The Derby Waterside Study is funding from Derby City Council to fund a feAsibility study for the Derby Arni,
river Derwent and ciry centre waterside.
Draycott Cortages Fund.. To provide funds for the restoration of Cottages at Draycott.
Social Meetings Pund.. A donation ¢0 fund costs of providing members monthly meettngs.
Eddv's Bench.. A donation from friends of past Society Chairnian Eddy Case to fi￿d a memorTal bench.
W4t¢r Vol¢s- fuiid5 colleLÈ¢J iu ￿51St the proieciion and relocation ofH?trr voles al Drdycott.
Pagr 18

The Derby & Sandiacre CanAI Trust Limited
Notes to the Financial Statements for the Year Ended 31 Mareh 2024
Balance at
31 Mareh
2(12.1
Balance at I
April 1022
IDcomiDg
resoiirees
Resources
e.Ypended
Tr#tssfers
Unrestricted funds
General
General Fund
193.614
71.689
(47.511)
(1.792)
216,000
Restricted
Borrowash Lock
Improvements
Sandia¢re Lock Fund
Drdycott Golden Mile
Project
River Boa( Fund
Co-op S&S Equipment Fund
Derby Waterside Study
Drdycott Cottages Fund
Social Meetings Fund
Eddy'5 Bench
Water Voles
(41)
(5,593)
1.164
108.498
115.789
(1,698)
194.569
12.564
(4,500)
(4,715)
(8)?)
(32.000)
(3.758)
(120)
190.070
696
2.?39
8.000
5.049
305
478
359
(7.153)
2,910
181
40,000
1.500
7.307
425
478
i59
Total restricted fund5
362,9?2
3,7?3
(51,579)
1,792
316,858
Total funds
556.536
75,41?
(99,090)
532,858
14 Analysis of het a55ets between funds
UDr¢stri¢led
2024
Tot41 funds
General
Restricted
Tangible fixed &%sets
Current assets
Current li8bilitie5
Creditors over l year
692.493
232.244
{21.824)
(6?3.323)
692.493
512.226
(21,824)
(623.323)
279.982
Total net assets
279,590
279,982
559.572
Page 19

The Derby & Sandiacre Canal Trust Limited
Note5 to the Financial Statements for the Year Ended 31 March 2024
Unrestriettd
2023
Total funds
General
Restricted
Tangible fixed assets
Cu￿ent assets
Current liabilities
Crediiors over l year
69J.783
157.299
(11.759)
(623.323)
693,783
474,157
(11,759)
(623,323)
316,858
Total net assets
216,000
316.858
532.858
15 Fees pgyable to independent examiner
During the period. the f¢es payable (excluding VAD to the charity's independent examiner Community
Accounting Plus are analjsed &5 follow's..
2024
2023
Independent examination
600
570
600
570
16 Taxation
The charity is a registered charity and is therefore exempt from taxation.
17 Trustees remunersition and txpens¢s
No trustees, nor any persons connected with them. have received any remunerdfion from the chariry during the
year.
No trustees have received any other benefits from the charity during the year.
18 Relat¢d party transactions
PeThinal loans
Throughout thc ycar the ¢harity had th¢ following rclat¢d party loan3 outstandiiig
P?iil Horton-Tiirner. Director. £26.000
William David Savidge, Direc￿r. £1 0,000
Chris Madge. Director, £200,000
Anne Madge. Director s spouse. £30.000.
These loans were made to enable the purchase of the Cottages property and land and earn interest at 3 % p.a.as
described in note I
Page 20

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
19 Fixed asset investments
Details of undertakings
Details of the investments in which the charity holds 200/• or more of the nominal value of any ¢18sg of share
capital are as follows..
Country of
incorporation
Proportion of voting rights Principal
2nd shares held
actiiity
Undertaking
Holding
2024
2023
Subsidiary undertakings
to raise funds
for
the
restoration
and
The Derby Canal Co
Limi(ed
England & Wales
Ordinary
Sliares of £1
loo%
aintenanee
of The Derby
Canal
Pa8¢ 21