Company registration number: 02986417
Chariry registration number.. 1042227
The Derby & Sandiacre Canal Trust Limited
(A company limited by guardntee)
Annual Report and Financial Statements
for the Year Endcd 31 March 2025
Community Accounting Plu5
Units l & 2 North ￿Test
41 TAlbot Street
Nottingham
N(il 5GL

The Derby & Sandiacre Canal Trust Limited
Contents
Reference and Administrati%'e Details
Trustees, Report
2to6
Independent Examtnerfs Rcport
Sthtemenl of Financial Actii'ities
8109
Balance Sheet
io
Not¢s to the Financial Statements
to21

The Derb) & Sandiacre Canal Trust Limited
Reference and Administrative Details
Truslees
Chri5topheT Madge, Cbairman
Cbrislopher Richardson
Michael Wingfield
Paul Horton-Turn¢r
Kevin Mill¢r
Christophcr Rcc5F"itZPa￿ick
David Savtdge
Mike Snaith
Charity Registration l%umber
1042227
Companv Registration Number
02986417
Registered Office
62 Broadwav. Duffield
Belper
Derbyshire
DE56 4BU
Independent Examiner
John O'Btieii. employee of
Communiti, Accounting Plus
Units l & 2 North West
41 Talbot Sire
N'ottingham
N'GI 5GL
Page I

The Derby & Sandiacre CanAI Trust Limited
Trustees. Report
The truslees, Ivho are directors for the purposes of company law. present the annual report together with the
rinancial statements of the charitsble company for the year ended 31 March 2025.
Trustees and o￿leerS
The tn￿tee$ and olTiceTS serving during ihe year and since the year end were &s follows:
Trustees:
Chrisiopher Madge, Chaiman
Christopher Richatdson
Michael Wingficld
Paul Hortoa-Tumer
Kc%'in Millcr
Christopher Rccsfitzpatrick
Dai'id Savidgc
Mike Sllaith
Derek Troughton jdeeeas¢d 20 July 2024)
Val Clare (resigned 22 October 2024)
AdN4s0ry Commlttee members
Cllr T Scott nominaied bj" Erewash Borough Council
Cllr H Dhindsa nomI￿ted by Dcrby City Council
Cllr M Rawson nominated by Derby City Council (appointed in May 2024)
AdAm Thompson MP (appoinred July 2024)
Stephen Taylor nominated by South DeFbyshire District Council (appointed h4ay 2025)
Darren Muizel&qr nominated by Derbyshire County Council {appoinied May 2025}
Maggie Throup MP (stepped down in May 20?4)
Cllr k Mor¥an-M¢G¥L.han nominaied b), Derby Cily CvunLlll (slvpped do￿1 in May 2024)
Cllr P Walson nominated by South Derbyshire District Council (siepped down in Mav 2025)
Cllr Hickton nominated by Derbythire County Council (stepped down kn Nlay 20*5)
Structure, governance and management
Nolure ofgovernimg doeiiment
The Derby aud Sandiacre Canal Trust Ltd is a company limited by guarantee and 8 registered charity. It is
optrated under the rules of its nicmoiandum alld articles of association dated 311111994 which was most
recently amended on 101412019. It has no sharc ¢apital and the liability of each subscriber in the event ot-
inding-up i5 limited to £1.
Recruit￿¢￿t 4nd appointment oftrustees
In accordance ￿'Ith Article 16 of the neitr Constilution, a third of all Directors retire at the Annual (ieneral
Meeting an d being eltgible, offer themselves for re-elecrion.
NeTh' Directors are ini-ited to join the Trustees based on their knowledge and experience of the canal project and
their appointments are subjcct to approial at thc Annual Genernl Meeting.
In addition to the Directors. Adk'i50ry Committee Nlembers are appointed by the Four Local Authorili¢s on an
nniiAI rene￿.able basis being dra￿￿ from Coiincillors andlor Senior members of staff, or by the memhership nf
Restordtion Partners or Stakeholdets.
Page 2

The Derby & Sandiacre Canal Trust Limited
Trustees, Report
Major risks and management ofthose risA"5
Risk management
Major risks to th¢ Trust hav¥ bern reviewed and >ysicins and procedures with L￿Et￿pr¢h¢nsIve insl￿anle Put into
plaLe to manage tbose risks. inlluding regular rei'ieiv at Board meetings. ,Major chang¢s are Lommuriicated to
thc Board at rnonthly meetings and to thc Adtrisory Committee quarterly.
A key risk is that 8ectinng nf the canal line owned ihe TnL£I are in ￿'￿ter and the Tn]gt is aware f)f its land
drainage responsibililies 10 avoid flooding of neighbours. The risk is managed by periodic inspeLiion and
clearance of drainage channels and ￿.}11 be eliminated b* the completion of the full restoration.
In view of the increasing complexity in operations the Trust continue5 to seek external financial, Itgal and
engineering expenisc to mitigate risks. The Trust is also actively seeking and finding addits.onal volunteer
expertise to ensure its work and use of funds is effective and undertaken with minimum risk.
Flnonclal revle
The Statement of Financial Activities for the year is set out within the financial staiements. A summary of the
financial results and the woik of the Charity is set out below.
Policj on reserves
The Tnist general reserves Cu￿entlY stand al £190K with further restricted reserves of £260K. The Trustees
have Teviewed ihc posilion and arc conitortable that a genctal i¢strv¢ of caslTr of aiouiid £30,000 15 sufficient to
deal with unloreseen events. partiCLtlarly in ligbi of the current renial income stream. The reserves are set to
ensure that we can meet possible liabilities wben they fall due. tnaintain our equipment and provide a funding
buffer to allow the Trust lo take adi'anthge of sm211 unforeseen oppornmities as tliey occur.
The Trust has succe&%fully agreed the exien5ion of supporters loans to fund the Cottages development. Loans of
£595,000 were due lo be cailcd on 28th June 20?6, bul this bas now been rolled forn'ard by three years. In the
cnur%e nf thiq £911,000 Thill be rep8id in 2025. ￿.hich has been partially replaced by £41000 of new loans. This
mcans that a nct £47.000 of loans will be repaid in 2025. Thc T￿￿teeS hal'e also made provision for prog￿551￿¢
future Tepayments trom SUTplus rents as cash flow allows.
Going concern
After making appropriate enquiries, the tn￿teeS haTre a reasonable expectation that the Trust has adequate
resource% to continue in nperntion¥l existence for the foreseeahle fU￿re. Fnr this reason they continiie to adopt
thc going concern basis IT) preparing the financial statcmcnts.
Page 3

The Derb) & Sandiacre Canal Trust Limited
Tru5tee5' R¢poit
ObJeetlves and acliviti¢s
Objecls and aims
The objeLiive of ihe TnESt 15 to restore th¥ fonner D¢rby Canal wateiway from the Erew&sh Canal at Sandiacrc
to the Trent 8nd Merscy Canal at Sm'arkestone via central Derby. as close as possible to thc oriqinal route,
thereby connecting Derby to the naiional canal n¢￿-Ork. In completing this objective. the Trust and ils partners
will seek to moximise the impact on the communiry's qualiry of life. primarily bv encouraging aciive use of ihe
Ivaterway by individuals and clubs and creating and maintaining a waler based environnient that will 5UPPOrt
dnd encourage wildlife and the ivider environment. This will also generate sustainable economic devLlopment.
job creation through tourism and sports, and educational. heritage and leisure benefits for the City of Derby, the
Borough of Erewash, South Derbyshire District and the East Midlands region generally.
The Trust seeks to be the catalyst, not only for the canal restoration but also for the enhancement of the
neighbouring land CO￿]dor, in partnershtp with local authorities. landowp.ers, community and volunleL'r groups,
developers and all neighbours and residenis.
Achi¢vcmcnts and Performanec
Prilgress h•s been foeiissed on the west-e88t leg nf the restnratinn nver the l&st year, ￿,b]le the Tnist awaits
progress with developers at Chellaslon with the 5.000 homes garden village d¢vclopmenl alongsidc the canal.
The Trust has acquired two parcels of land between Draycott and Bre&ston and has asreed in prillciple to
4tL4uir¥ Ibe Idsl signifiL<inl 51relch b¢lw¢cn SdtEdiaLf¥ <uid DrayLulI. Wurk been uIid¢rtakeD (o assess,
improve and make safe thL seciions acquired. Plans are being developed to Use these land parcels for tlood
attenuation in the Dravcott winding hole atkd for tree planting elsewhere as part of the eventual canal restoration.
Our volunteer civil engineer hA% further developed plans to use canals for m.ater movement and flood preK'¢ntion
in conccrt with other inlerested parties. ￿￿e a￿71t a Major hydrological S￿d} s findings. duc in late summer, to
infonn those plans. We have continued to devote substantial effort in preparing to restore the CJolden Mile in
Draycott, but given the si2e of the project delivery timescales are dependent OT] our partners. We have the
suppori of loial auil)orities foi. Iliese plaiis. Ivork lias been undcrtaken to ke¢p th¢ canal lint on the Golden imile
clear of obstsuclions. in¢ludino demolishing the access bridge across the line.
The Derby RiN'erboat has continued io be a success during the past year with increftsed recognition and
passengers in 2024 over 2023. There is howei'er a risk that the service ￿.111 be inlerrupled by the building of the
¢ity'5 flood monagcmcnt walls adjaccnt to our btts¢. Contrn¢lors' works will cffc¢tively stop activity for
summerlautumn 2025 by preventing safe pass¢noer access. It also calls into question the ability to build the
ciirrently planned pontoon as the flood wall w'ill prei'ent Access by heavy plant. The Tnist haq been working
actively to fmd an alieniatl￿C 501ution an￿ with the support of the city. council, w¢ ar¢ working ￿ gain
perniission tor an altemative silc by the Silk Mill (Museum ol. Making}. We already have a dL'sign and
agreement to use the balanc¢ of city council funding already allocated. There are a number of obstacles and Tisks
invvlv¢d. but Trustees are oplimistic That this LhallLn¥L may brvak the PT¢VIOUS ITllpiltsSC Iiiid IdLk uf pr0￿C5s.
The design will incory>orate rL'silieDce to flouding and full disabled access, of COUTse. We aim 10 deliN'er this as
quickly as possible.
Page 4

The Derby & Sandiacre Canal Trust Limited
Tru5tees' Report
We continue to press on with proposals for Derby city centre developments and are discussino wilh other
interested parties hoiv to iniegrate our own proposals in the cily wilh the flood defences programme. In
particular we are looking at Erasnius Datwin Gardens and the stakeholder groups have made good progress in
providing oplions that meet ihe city council objeciives and provide more river tra￿lC arAd activity. Agai￿ the
ouncil are supportive of our al￿ and opportunities.
Sandiacre lock has nwle little progress in defining detailed designs and prices. but we have been notified we
will rcccivc a fiwthcr S106 award of £97,000 from Erewjsh Borougb Council.
The Trust has continued to be acliN'e in maintaining its ￿￿￿et$ including the owned sections of candl path at
Spondon. Borrowash, Draycott. Breaston and Sandiacre. In particular, sections of canal w'all by volunteers at
Borrowash are nearing completion.
During the last year we have also been able lo promoie our works more actively in the community by attending
local shows and describing the challenges and successes of the project overall and section by section. We have
r¢¢¢ived grO￿ttg support from the public. locthl authorities and Corporates for our work.
The. Tniqt r.nntiniie.q tn be. Tndp.hteA tn the Arniy af vnlunteers who have attended working parties. or dealt with
administration. fundraising. organi5ing meettngs, ncgotiating with supplicrs. planncr5, council officers, etc. etc.
Without these people the Trusl simply could noi function effectively.
Statement of Responsibilities
The trustees (who are also the directors of The Derby & Sandiacre Canal Trust Limited for Ihe purposes of
company law) are responsible for preparing the misiees. repon and Ihe financial siatcmenis in accordince with
appltcahle law and Ilnited KÈn¥dom Accallnttno Standards (United Kingdotn Generally Accepied ALeounting
Practice), including FRS 102 "The financial Rew)ning Standard applicablc in thc UK and Republic of Ireland"
'I'he report and accounts have been PrePa￿d in accordance with the provisions in the Companies Act 2006
rclating to small companics.
Company law rcquircs the tn￿tccS to prcparc financial slalemenls for ettch financial year. Under ¢ompan)' law
the trustees must noi approve the financial stalemenTS unless th¢N' ar¢ satisfied that they give a trne and fair N'iew
of the slate of affairs of the charitable company and of the incojning resources and application of resources,
iii¢liidiiig its illcoiiie aiid expenditur¢, of thc charÉtsblc company for that PCrilMJ. In prq)aring thcsc financial
statements. the Irusle¢s ar¢ required to..
select suitable accounting policies and apply them ¢onsislentlJ;
observe the methods and principles in the Chartties SORP.
make Judgements and estimates that are reasonable and prudent:
state wheth¢r appliLable accounting standaTds, comprising FRS 102 have been follow¢d. subject to any
material departures disclosed and explained in the finaneial 8rAtementS' 2nd
prLpare the fU￿ncl￿1 statetnents on th¢ going cnncern basis unless it 18 inappropriate to presume that the
haritabl¢ company ￿.111 continu¢ in business.
The trustees are responsiblc for keeping propcr accounting rccords that can disclos¢ with reasonable aCCUTacy at
any lim¢ the financial position ot.the chantable conipany and enable theTn to ensure that the financial statenienis
comply with the Companies Act 2006. The>. are also responsible for Safe￿￿[dIllg the assets of the charitable
coiiipaiiy aiid hence foi takiEi¥ f¥<wllable sleps foi Ihe preielltion and detection of fraud and othcr irregularitics.
The Itustees ale Itsponsible for tlie niaiRtenancc and integrity of the corporate and financial inforniation
included on the charitable compangs website. Legislation governing the preparation and diss¢mination of
finat]cial statements may differ from legislation in other jurisdictions.
Page 5

The Derb), & Sandiacre Canal Trust Limited
Truslees. R¢purt
Th¢ annual report was approved by the trustees of the charity on .................... and signcd on its behalf by:
CbTi8topher
Trustec
ge, Ch&iman
Page 6

The Derby & Sandiacre Canal Trust Limited
Independent Examiner's Report to the trustees of The Derby & Sandiacre Canal Trust
Limited ('the Compan) )
Independent examiner'5 report to the trustees of The Derby & Sandiacre Canal Trust Limited ('the
Companv,)
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March
2025.
Responsibilities and ba515 of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006
('the 2006 Act,).
Having satisfied myself that the accounls of the Company are not required to be audited under Part 16 of the
2006 Act and are eligible for independent eiamination. I report in respect of my examlnatlon of your charity's
accounts as carried out under section 145 of the Chariiies Act 2011 ('the 2011 Act,). In canying out my
examination I have followed the Directions given by the Charity Commission under section 145(5}(b) of the
2011 Act.
Independent examiner's stalement
I have completed my examination. l confim) 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 Company as required by section 386 of the 2006 Act. or
2. the accounts do not accord with those records- or
3. the accounts do not comply with the accounting requirements of Section J96 of the 2006 Act other than any
requirement that the accounts give a 'true and faif view which is not a matter considered as part of an
independent examination; or
4. the accounts 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
accounts 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 attentioii
should be drawn in this report in order to enable a proper undersLqnding of the accounts to be reached.
Eva Stevens, BSC, CPFA, employee of Community Accounting Plus
member of the Chartered Institute of Public Finance and AccounLqncy (CIPFA)
Units l & 2 North West
41 Talbot Street
Nottingham
NGI 5GL
2911012025
Page 7

The Derby & Sandiacre Canal Trust Limited
Statement of Financial Activities for the Year Ended 31 March 2025
(Including Income and Expenditure Aecount And StAtement of TotAI Recognise.d Cyains
and Losses)
Total
2025
Total
2024
Unrestricted
Restricted
Income and Lndoivments from:
Donations and legacies
Charitable activities
Investmcnt inLome
Other income
7.261
30.7)2
11,308
47.971
7.?61
31.359
1.308
47,971
3.407
77.276
8,860
50,165
607
Toial InLome
607
97,899
139,708
F.xpenditure on:
Charitable 2etivities
{44,551)
(5.46%)
{50.01 A)
(112.994)
Total Expenditure
(44,551)
(5,465)
(50,016)
(112,994)
Net income/(expenditure)
TrdIisfcTh beiweeIi fuiids
52,741
15,000
(4.8581
(15,000)
47.883
26.714
Net movement in fi￿dS
67,741
(19.858)
47.883
26,714
Reconciliatinn (bf fund4
Total funds brought forward
279.590
279,982
559,572
532,858
Total fuiids cari'ied forward
13
347,331
260.124
607,455
559,i72
All of the chatity's activities derive from coniinuing operdiions during the above two periods.
The fijnds breakdown for ihe period is shown in nul¢ 13.
The notvs vn px¥¢s I 110 21 fonn an intcgtal part of these fllwicial statem¢nts.
Page 8

The Derby & Sandiacre Canal Trust Limited
Statcment of Financial Activities for the Year EDded 31 March 2025
(Including Income 2nd Expenditure Aecount 4nd Statement of Total Recognised Gains
and Losses)
Unrestrteted
fullds
Restrirted
funds
Total
2024
ote
Illlume and Endoivmenfs from:
Donatinns and legacies
Cnaritxble actii'itie5
Investment income
Other income
3,407
74,293
8,860
50.165
3,407
77.276
8,860
50.165
2,983
Total income
136.725
2,983
139.708
F.xpellditure on:
Charitahle Aetivitie.s
(73,135)
(39:859}
(112.994)
Total expenditure
(73,135)
(39,859)
(112.994)
Net incornel(expenditure)
Net movement in fiinds
63.590
(36.876)
26.714
63,590
(36.876)
26,714
Reconciliation of fund5
Total tunds brought forward
Total fijnds carried forward
216.000
316,858
532,858
13
27Y.59U
279.982
559.572
Th¢ notes on pag¢s I I to 21 fonll an iDLc¥ral pan of these financial statements.
Page 9

The Derby & Sandiacre Canal Trust Limited
(Registralioii nulliber: 02986417)
Balance Sheet as at 31 March 2025
2025
2024
r*ote
Flxed 4ssets
Tangible assels
774,026
692,493
Current assets
Debtors
Investments
Cash at bank and in band
90,304
100
372.844
95.921
io
416.205
463,248
512,226
Creditors: Amounts falllng duc within one year
(1?,925}
(21,824)
Net Current assets
450.323
490,402
Total assets less eurrent liabilities
1224,149
1,1 R2.Rgfj
Creditors: Amounts falling due after more ihan one lear
12
(616.894)
607,455
(623.323)
Net assets
559,572
Funds of Ihe charity:
Restrieted income funds
Restricted funds
13
260,124
279,982
Unrestrieted income funds
Unreslricted funds
347.331
279.590
Total funds
559,57?
For the financial yeaT ending 31 Mareb 2025 the charity was entitled io exemption from awlii under section 477 of the
Companies Act 2006 relattng to small c(trmpanies.
13
607.455
DireLlors' Tcsponsibiliiics:
The members have not rcquired charity to obtain an aLMlit of its accounts for the year in question ID accordance with
Section 476: and
I'he directors acknowledge their resFKtrnsibilin¢s tor complying with the r¢quirnnents ot th¢ Act with respect to
accounting records ar￿ the preparaiion of accounts.
The.%e tinancial slatements have been prepared in accordance with the special prO￿ls1onS relating to companies
subject to the small companies regime within Part 15 of the Companies Act 2006.
Tlie fiiiaiiLi4J ildietn¥nls un pa¥¢5 8 10 21 uppruv¥d by th¢ irust¢es, lind authurtscd foi issuc on
? *..' !.¢.. J L> and signed on their behalf by:
Clll75to
Trus
ee
aTdson
The notes on pages I I to 21 fonn an inte￿￿ part of these financial statements.
Page 10

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
l Accounting policies
Summarv of significaftt afLOUlltiDg pollcies kev accounting estimate
The principal accnunling. pollries ￿pplILd in the prepArnlinn ()f the￿ f7llAncixl st2temÈnt.% Are get nut helnw_
Thcsc policies haN'¢ b¢cn consistellily applied lo all ih¢ vcats pr¢sentcd, unless oiFienvise statcd.
Statement of eompliance
Thc financial stateiiiellls hdV¥ prepared in acconlance with Accouniillg kmd Reportillg by Chaiities..
Statement of Recommended Prnctic¢ (applicable to charities preparing their accounis in accordance with the
FinanLial RLPOrting Standard applicable in the UK alld Republic of Ireland (FRS 102)) {issued En October 2019)
Ichariiies SORP IFRS 1021 i, the Financial Reporting Stsndard applicable in the UK and RepubliL of Ireland
(FRS 102) and the c.ompanies Act 2006.
Basis of preparation
The Derby & Sandiacre Canal Trnst Limited m¢eL% the definition of a public benefit entity under FRS 102.
Assets aiid liabilili¥s initl%illy r¢¢vyis¥(l & hislOflLal LOSI or transaLIiull VdluL" uulcss udieiwise statLd iii th¢
relevant accounting policy notes.
Gvin¥ cvncern
The financial %tatements have been prep3red on a gning cnncern h&sis.
The t￿SteeS as*ss wheiher the use of going Concern is appropriate i.e. whether there are any material
uncertainties related to e￿.entS or conditions thai may ¢asl significant doubt on the ability of the charity to
coiitiiiue as a going LunLCrn. Th¢ ITU5te¢s muke ihis assessllieiit Icsp¥¢l ufa p¢ri(Ki of yedr froni tlie date
of approval of the fmancial slatements.
F.xeiiiptioTh from prypyring 4 c%5h statement
Under the exemption aN'ailahle tn %maller charilies the Board of TnLStee.g h&8 chnqen nnt tr) include a statement
of Cash Flows within the financial statements.
Inc(bmè xnd pndfiivmeDt5
Voluntary ine()me inLluding donaiions, gifts, legacies ¢ind grants th<tt proi'ide core funding or are of a ¥elleral
nature is reeognised w.hen the chariry has entitlement lo the income. it 15 probable that the income will be
received and the amount can be measured M'ith sufftcient reliabiliry.
Donations and legacies
Donations are re¢ognised when the charity has been notified in iNTiling of both the amount and settlenient date.
In the ev¢nt that a donation is subject to conditions ihal require a level of perfomiance b), the charity before the
charity is eniiiled to the fl￿ds. the income 15 deferred and not recognised until either those conditions are fijlly
met. or the ￿lfilment of thn8e cnnditian8 ts whnlly within the control of the charity and it 18 prohable that these
conditions will b¢ fulfillcd in thc reFM)rting period.
Invefjtment incnme
Dividen(is are recngnised once the dividend hAS heen declared and nntificatifin h&q heen received nf the dividend
due.
Page 11

The Derby & Sandiacre Canal Trust Limited
Note5 to the FinaDcAal Statements for the Year Ended 31 March 2025
Expenditure
All ¥xpcnditure is reCO￿lsed once there is a legal or constructive obligatt.on to tbal expenditure, it is probable
settlement is required and the amount can be measured reliably. All costs are allocated to ihe applicable
eKpendilut¥ hcading that aggregate similar costs to thuÈ Lulcgury. Whcrc Lusts caT]noi bc ditCLily altributcd to
particular headings they have bttn allocated on a basis consistent with the use of resources. ￿'1th central staff
Losts allocated on the basi5 of time spent. and depreciation charges allocated on tbe portion of th¢ asset's use.
Other support costs are allo¢al¢d based on ihe spread of staff costs.
CharitAble Activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services
for lis beneficiaries. It includes boih costs that Can be allocated directly to such activities and Ihose COSIS of an
indirect nature nece.ssary to support them.
T8xation
The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
Therefore li meets ihe definition of a chariiable COrnP&iny for UK LOTPOTdrion ux purpu5¢5. ALLur¢JiD¥ly. Llie
charity is potentially exeTnpt from taxation in respect of income or capital gains received within eategories
covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Seciion 256 of the Taxation of Cliargeable
Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes.
Tangiblc fixed assets
Individual tixed assets are initially recorded at cost, less any subsequent accumulated depreciation and
subsequent accumulated impairn)ent losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to WTile off the cost or valuation, less w]y estimated
residual Tralue, oN'er their expected useful economic life as folloviS=
Assct class
Plant and machinery
Land & Buildings
Depreeiation method and rate
25 /0 reducing balance
Not depr¢cRat¢d
Current asset investments
Current asset investments arc included ai th¢ lothrr of cost and net realisoble v&lu¢ I mnrket volue.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or scNices perfonned in the ordinary
course ok-business.
TTdde d¥biors are recognised initially at the ￿ansaCtIon price. They are subsequ¢nily measured at ilTTIOTlised tyosi
Using Ihe effeciive inleresi method, less provision for impairment. A provision for the impairnient of trade
debtors is established when there is objecti￿C evidence that the charity will not b¢ able to collect all amounts due
according to the original tem)s of tbe receivables.
Page 12

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Cash and cash equÉi'AAents
Cash and cash equ1￿.alen1s comprise cash on hand and call deposits. and other short-terni highly liquid
investments that are readily collvertible to a known amounl of cash and are subject io an insignificant risk of
change in value.
Trade ¢reditor$
Traae creditOTS are obligations to pay for goods or Services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabililies the Lharily does not haiye an
unconditional right, at the CDd of the reporting period: to defer settlement of the crcditor for at least tw¢lve
months after the reportino date. It there 15 an unLonditional right to defer settlement for at l¢ast twelve months
after the reporting date, they are presented as llon4u￿ent liabilitkes.
Trade creditors are recogn&sed tnitially at the transaction price and subsequently measured at amorLised cost
using the effective interest method.
Fund structure
nrestrictcd income funds are generdl funds that are availablc for use at the trusttts, discretion in fLrtherancc of
the obje¢tii'es of the charity.
Restricted incom¢ funds are those grants for use in a particular area or for specitic purposes. the use ol" which is
restricted to that area or purpose.
2 IDeome from donations and Itgaeies
Unrestricted
fund5
General
Ttstsl
2025
Total
2024
Donations
Donattons from individuals
Gift aid reclaimed
5.520
1.741
5,520
1.741
1.870
1,537
7.261
7.261
3,407
Page 13

The Derby & Sandiacre Canal Trust Limited
Notes to Ihe Fillallcial Slalenienls for ihe Yeiir Endeql 31 MarLh 2025
3 Income from charitable activities
Unrestrl¢ted
funds
General
Restrieted
funds
Totydl
2025
Tolsl
2024
Grants & donations
MeMbers￿'pS
ConiraLI WvFk
Fundraising
Sales
SuLidl ev¥n15
Sundry income
Compensation
liibui4lllL¥ Lldllljb
607
607
6,260
,350
757
922
268
415
6.260
1,350
757
922
268
415
7.008
1.700
770
165
20.780
20.780
67.633
30,752
607
31,359
77.276
4 Grants & donatioDs
Unrestricted
funds
Restrieted
runds
Total
Gift
Other donations
1.741
5,520
1.741
6.1?7
607
7,261
607
7.868
5 Investment Income
Unrestricted
funds
General
Total
2025
Total
2024
Inierest receivable and similar incom¢;
Interest receivable on bank dctK)sits
11.308
11.308
8.860
6 Other income
Unrestricted
funds
Geueral
Total
2025
Total
2024
Rental income
47.971
47.971
50.165
Page 14

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
7 Expenditure on charitable aetivlties
Unrestricted
fund5
CeTrerdl
Restricted
funds
Total
2025
Totll
2024
Administrative costs
Bank charges
Depreciation
Rent and rates
Loan Tnaintenance costs
Legal and professional
Fqiiipment Teplacement
Utilities
Mark-cting & publicity
Draycott CTnlden Mile eosts
Training
Insurance
Licence and perniits
SubscTiPtions
Planning costs
Cottages renovatton cosL%
Property maintenance
Flood experjses
Social ¢venls
Monthly draw prizes
Packet production costs
Sundry expenses
Show festival costs
PropeTty' renlal expenses
Canal maintenance
6?8
45
628
45
967
805
18.966
6,746
914
106
967
805
18.966
0.746
1,290
554
17.687
20.786
2.615
1,239
1,069
16,849
4UU
6,467
115
48
752
48
752
2,070
120
6,434
1.045
573
2,070
120
6.434
1.045
573
573
200
200
250
120
3.425
31.475
386
354
861
999
1.501
53
1,052
1,501
40
404
442
176
404
442
17fi
16
1.250
2.434
16
1,250
5,736
1.087
4,372
3.302
44,5.$1
-S.46.S
50,016
12.994
Page 15

The Derby & Sanqliacre Caiial Trust Limi(￿1
.ryotes to the Tr"inancial Statements for tbe Year Lnded 31 March 2U25
8 Tangible rued Assets
Land and
bulldings
Plant &
machiner).
Total
Cost
At l April 2024
Additions
708,624
82,500
20,426
729,050
82,500
Al 31 March 2025
791.1?4
?0,426
811.55U
Depreciation
At l April 2024
Charge for the year
20.IMX)
16,557
967
36.557
967
At 31 March 2025
20.OIM)
17,524
37.524
Net book value
At 31 Mzich 2025
771.114
2,902
774.026
At 31 March 2024
688.624
3,869
692.493
Included within the net book value of land and buildinus above is £771,124 (2024 - £688.624} in respect of
frcchuld land and buildings and £Nil (2024- £Nil) iu rcspcct of l¢ascbolds.
9 Debtors
2025
2024
Duc from group undcrtakings
PTepayments
Other debtors
990
4.850
90.081
4,751
85.553
90,304
95,921
En¢luded in the total of other debtors is £83.403 relating to sale of the trip boat to the trading company.
10 Current asset Investments
2(125
2024
Shares in group undertakings and participaling interests
P&lg¢ 16

The Derby & Sandiacre Canal Trust Limited
Notes to the Financlaj Staiements for the Year Ended 31 March 2025
I I Credltors: amounts f811ing due within one year
2025
2024
Trade creditors
Other loans
Other credilors
ACcn￿lS
?.284
6,430
16
4,195
10.375
6.430
5,019
12,925
21,824
12 Creditor5: amounts falling due after one year
2025
2024
Other loans
616.894
623,323
Other borrowings
Loaii8 from supponers with a carrying amount of £fi I I,IKK) (2024: £61 I,OtKJ) denr)minated in sterling with a
nominal interest rate of 3 % (2024.. 3 /0).
The loims are Interest only.
Baiik borrowin¥s
Bounce back loan is denominaled in sterling with a nominal interest rate of 2.50/0 (2024- 2.5 % ). and the final
instalment is due onl December 2027. The carrying amount at year end is £12,324 (2024: £18,753).
Capital 18 repayable in 60 monthly insialmenis of £535.82.
Page 17

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
13 Trunds
Balance at
31 Mgrch
2025
Balance at I
April 2024
IneomÉng
resuurLes
Resources
expended
Transfers
Unrestricted funds
General
GLneral Fund
279,590
97,292
(44,551)
15,000
347.331
Restrlcted funds
Borrowash Lock
InipTOVtinenl¥
Sandiacre Lock Fund
Draycott Golden Mile
Project
Co-op S&S Equipment Fund
Social Meetings FuJ]d
W aler Voles
303
108.258
(53)
250
108,258
168,861
2.381
119
(3,397)
(1.975)
(40)
(15,000)
150,464
745
347
fio
339
268
Total restricted funds
279.982
607
(5.465)
115,000)
260.124
Total funds
559.572
97,899
(50,016)
607.45)
The specific purposes for which the fjJnd5 are to be applied are as follows:
Dorrowash Lock Improvements: To enable works on BoTrowash Lock.
Sandiacre Lock F'und: "I"0 enable works to excaN'at¢ Sandia¢re Bottom Lock.
Draycott Golden MilL Pioject: To convert a 314 mile drainage ditcb to a navigable canal.
Rivei Budi Fund: Tv ¢slablish a ￿'V¢T Budl un th¥ Deiwellt.
The Co-op S&S Equipment Fund is from sei'eral local C(pop stores to fund ¢xpenditure on equipment to
Ma￿taIll the L'anal path in the Sandiacre to Spondon areas.
The Derby Warerside Siudy is funding from DerbN' Cilv Council 10 fimd a feasibiliry swdy for rhe Derby .4rm.
river Denvent and city centre WAte￿ide.
Draycolt Cottagcs Fund.. To provide funds for th¢ rcstoralion of Cottsges at Draycotr..
Social Meetings Fund.. A donatton io fund costs of providing members monthly meetings.
Eddy's Bench: A donation from friends of past Society Chairman Eddy Case to fund a memoTial bench.
Water Vol¢s: Funds collecied to assist tl)e prot￿tIOn and rclocation of water voles at Drilycott.
The transfer from the Draycott Golden Mile fi￿d reflects the piirchase of land diiring the peri￿.
Page 18

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Balance at I
April 2023
Incvming
resources
Resources
expended
Balanee at 31
MarLh 2024
Unrestricled funds
G¢neral
General Fund
216.000
136.725
(7i.135)
279.590
Restrieted
Botrowash Lock Impros'ements
Sandiacre Lock Fund
Dra}'cott Golden Mile Project
River Boat Fund
Co-op S&S Equipment Fund
Derby Waterside Study
Drdycott Cottages Fund
Social Meetings Fund
Eddv's Bench
Wat¢r Vo1¢5
(861)
(240)
(21,209)
(696)
(2,841)
{8,000)
(5,049)
(186)
(478)
(299)
303
108.258
168,861
108.498
190.070
696
2.239
2.983
2.381
5.049
305
478
359
60
Total resÉri¢ted funds
316,858
2.983
39,859
279.982
Total funds
532.858
139,708
(112,994)
55Y.572
14 Anal)sis of net %ssets between fund5
Unrestrleted
2V25
Total funds
Cener41
Restricted
Tangible flxed assets
Current assets
Current liabilities
Crcdilors over l year
774.026
203.124
(12.9251
(616,894)
774,026
463,248
{12.925)
(616.894)
260.124
Total nct asscts
347,331
260.124
607,455
Llnrestricted
2024
Total funds
General
Reslricted
Tangible fixed asscts
C.iirrent assets
CLwrent liabilities
Crcditors ovcr l year
692,493
232,244
(21,824)
1623,J2J)
692,493
512,226
{21.824}
1623.323)
279.982
Total net assets
279,590
279.982
559,572
Page 19

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
15 Trees payable to iDdepeDdeut examiner
During the period, the fees payable (excluding VAT) to the charity's independent examiner Community
Accounting Plus a￿ analysed as follows-
2025
2024
llldependenl examination
750
600
750
600
16 T8AatioD
The charity is a regisiered charity and is therefore exempt from iaxaiion.
17 Trustees remuneration And expenses
No trustees. nor any persons connected with them, have received any remuneration from the charity during the
year.
No trustees have received any other benefits from the charity during the year.
18 Related p4rt! transactions
Personal loans
Throughout the year the clwity had the following r¢lal¢d party loans outs'tauth'ng
Paul Hortoii-Tui'iieR', Dir¥Llvi, £26,000
William Dav2d Savidge. DircctOT, £ I 0.000
Chris Madge, Director, £21K),000
Anne Madge, Director's spous¢, £30,000.
The.se losms were made to enahle the purch&se of the Cottages property and land and earn interest at 30/0 p.a.as
dcscrib¢d in noie I l.
Page 20

The Derby & Sandiacre Canal Trust Limited
Notes to the Financial StatemeDts for the Year Ended 31 MurLh 2025
19 Fixed asset investmentg
Details of undertaking5
Detai15 of the investments in which the charity hol(18 200/0 or morc of the nominal i'alue ot" any class of slwe
Cdpltal are as follows:
Country of
incorporation
Proportion of voting rights Princip21
and shares held
activit).
Undertaking
Holding
2025
2024
Subsidiary yndertakings
to raise funds
for
the
restoration
and
maintenance
of The Dert>y
Canal
The Derby Canal Co
Litnil¢d
Ordknary
Shares of £1
England & Wales
lo￿/￿
loo/.
Page 21