REGISTERED COMPANY NUMBER: 02718582 (England and Wales)
REGISTERED CHARITY NUMBER: 1047777
REPORT OF THE TRUSTEES AIYD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
LONDON NARROW BOAT PROJECT
FKCA Limited
260 - 270 Butterfield
Great Marlings
Luion
Bedford5hire
LU2 8DL

LONDON NARROW BOAT PROJECT
CONTENTS OF THE FINANCIAL ST ATEMENTS
for the Year Ended 31 DECEMBER 2024
Page
Reference and Administrative Details
Report of the Trustees
Independenl Examiner'5 Report
Statement of Financial Activities
Balance Sheet
9 to 10
Notes to the Financial Statements

LONDON NARROW BOAT PROJECT
REFERENCE AND ADMINISTRATIVE DETAILS
for the Year Ended 31 DECEMBER 2024
TRUSTEES
Mr N Smith
Mr P Page
Mr M C Wilton
Ms J William50n (resigned 8.9.24)
Mrs E A Siagg
Mr J Tobin
Mr P R Dadford (resigned 25.5.24}
Ms K Everett
Ms R A Spruce (appointed 8.7.24)
REGISTERED OFFICE
260- 270
Bunerfield
Great Marlings
Luton
Bedfordshire
LU2 8DL
REGISTERED COMPANY
NUMBER
02718582 (England and Wales)
REGISTERED CHARITY
NUMBER
1047777
INDEPENDENT EXAMINER
FKCA Limited
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL
BANKERS
Barclays Bank
2 Market Square
Leighton Buzzard
BedfoTdshire
LU7 7EZ
Page I

LONDON NARROW BOAT PROJECT {REGISTERED NUMBER: 02718582)
REPORT OF THE TRUSTEES
ror the Year Ended 31 DECEMBER 2024
The trustees who are also direc(ors of the charitv for the purposes of the Companies Act 2006, present their report with
the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of
Accounting and Reporting by Charities.. SL2tement 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 l January 2019).
0￿ECTIVEs AND ACTIVITIES
Objeetives and aims
The London Narrow Boat Project's Articles of Associaiion states:
The charity's objects (Objects) are specifically restricied to the follo￿,Ing.
The advancement of the physical and mental education of persons of all ages in canal andlor waterways related
recreational leisure and sporting activities;
The provision of or assistance in {with or withoul payment) the provision of vessels, premises facilities and equipment
for the use of such persons for such purpose- and
The organisation, provision, promotion and development of services and facilities in relation to canals anivor watenvays
for social, educational and training purposes in any part of the United Kingdotn (with the object of improving the
conditions of life for the persons for whom the same are provided). For persons who by reason of their youth or
disabilitv or social and economic ¢ir¢umstances have need of such facilities.
The Trustees have read and considered the general guidance on Public Benefit provided by the Charities Commission in
setting the charities aims and objeciives.
Mission Stalement
Our Mission
To provide inexpensive residential and day canal boating trips to people of all abilities and means, limited only
by the physical constraints of our boats (e.g. ￿.¢ cannot accommodate wheelcliairs).
To promote an accessible and welcominu environment that encourages learning, volunteerism, and community
spirit.
Our Vision
To provide instruction and access to recreational canal boating for all M.-ithout regard to financial station with the
facility designed to= build self-esteem- broaden horizons- advance environmental aw'areness. nurture a true
sense of communily in ￿'hICh the diversity of ihe environmeni is respected and encouraged.
Together, we can make a difference to help others realise their potential.
Page 2

LONDON NARROW BOAT PROJECT {REGISTERED NUMBER: 02718582)
REPORT OF THE TRUSTEES
ror the Year Ended 31 DECEMBER 2024
ORIECTtVES AND ACTIVITIES
Significant activities
London Narrom, Boat Project operates two 70. Narrow Boats for Residential Holidays and Day Trips for groups
of up to 12 persons per boat. The income of the Project is derived primarily from Hire Fees but a150 from Donors to
meet the overall running costs boat maintenance: refurbishments and upgrades, insurance, Canal and River Trust
Licence Fees, mooring charges and boat running costs. Membership Fees provide income for the Bursary Fund.
The Trustees have set the hire fees at the lowest possible level to ensure that the Project is non-profit making and
available to as many young and disadvantaged people as possible and through the Bursary Fund provide grants for
subsidised or free holidays for individuals or groups where need is identified.
The continued challenge that faces many voluntary group5 is the recruitment of volunteer5 to manage the day to day
running of the organization. The Trustees acknowledge the continued dedication and commitment of many volunteers
that makes the project viable.
A three-year rolling development plan is being M'orked on to assist in future decision making and to help identify
specific recruitment needs.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
2024 was our 43rd year of operaiion and the project's longevity is a tribute to the original team that had the foresight to
start the project and the stewardship of many subsequent cohorts who have steered the project througth many challenges
and changes.
During 2024 hire fees continued to grow from organisations such as Scouts: Guides, Schools, Churches, and other
Community Groups but still not back to pre-COVID levels. Booking levels in 2025, however, show a further
improvement.
Our usual 'main' Marketing Activity, the Crick Boat Show continued in May 2024. Our AGM continues to take place at
the Crick show which is when the maximum number of Project member5 are physically gathered together.
Our Marketing Consultant has coniinued to evolve ideas for improving the ulilisation of our Project boats via our
website, print media and social media.
Fundraisinu
during 2024 continued but remain5 a challenging area. Our current focus is trying to get financial support to
defray the cost of maintaining the fabric of the projeci boats. notably repainting of the hull superstuctures.
Our Executive (which includes Some Project Skippers and oversee5 the Project'5 Activities) have Met via the 'Zoom'
platforn] regularly to discuss ideas and generally keep the Project motivated and ensure thai essential tasks are
compleied. Due to the wide geographical spread of member locations, it has been deemed effective and e￿l¢lent to
continue to hold Executive meetings via (he 'Zoom' plarfonn. Tn]stee meetings also continue to be held via Zoom with
the Understanding that a face-to-face meeting will be organised if and when deemed essential. The AGM is held face to
face and the next one is scheduled to take place during the Crick Boat Show 2025.
The Inland Watenvays System provides an unequalled opportunity to learn about the important role the canals played in
the early part of the industrial revolution, about geography, nature, canal history and heritage of this country.
We are confident that LNBP is well placed to Continue its mission of introducing people aged eight and above to the
enjoyment of the canal experience.
Page 3

LONDON NARROW BOAT PROJECT {REGISTERED NUMBER: 02718582)
REPORT OF THE TRUSTEES
ror the Year Ended 31 DECEMBER 2024
FINANCIAL REVIEW
Financial Review
Based on our established accounting policies expenditure exceeded income by £6,663 (2023= surplus £983 after a
revaluation gain on the project's boa(s of £20.420)
The balance in unrestricted funds as at the year ended 31 December 2024 is £148,446 (2023: £155,109).
The project's funds are held in a current account and interest-bearing account. The project doe5 not have additional
funds over and above those required to support shon to medium tem) commitments that would allow the trustees to
consider long-tem investments.
The principal funding sources for the charity are through voluntary donations and boat hire charges. Expenditure
continues to be actively and prudently managed.
The project's boais are Currentl! 23 )'ears old. The Trustees are focused on maintaining the vessels to the highest
standards to maximise the economic life of the ve55e15. This is illustrated by the investment in replacement engines
during 2023.
The continuing cost of living rises is a concern for all businesses and charity organisations. The project has incurred
increases in essential costs of running (he boas such as moorings. Ilcence fees and fuel, bui also the cost of maintenance
and repairs are impacted.
The twstees are mindful that sufficient reserves must be maintained io meet any unexpecied costs and ensure, as far as
possible, the financial stability of the project. As at 31 December 2024 the value held in reserves was £148,446 (2023-
£155,109) of which net curren( assets ￿'ere £53,472 (202)= £59,150).
The principal risks facing the charity are deemed to be the potential inability to recruit volunteers to fulfil all the relevant
roles to ensure the project runs smoo(hly wilh appropriate focus on achieving the charitable objectives, a major eveiit
leading to damage to the project's narrow'boats: with or M-ithout an adequate financial response from insurer5, a major
event which damages the reputation of the project or inadequate financial resources putting at risk the continued viability
of the project.
We would like to express our sincere thanks lo our Donors and the many Charitable Trusts who by their generous
support make possible the work of the Projeci in coniinuing its aims to enable particularly youTJg and disadvantaged
people to achieve their ambitions, enjoyment of the canals and promoting self-development.
We are especially extremely grateful to The Patrick & Helena Frost Foundation for their continued support. Their
generous donation in the sum of £7,500 during 2024 continues to significantly help the Project.
Reserves policy
The general funds are spent at the dis¢￿tIOn olthe trustees to further the charity's purpose. The trustees believe the level
of general funds held is adequate to cover operations for the short to tnedium terni. there is more uncertainty regarding
the longer temi.
The Trustees have sustained their reserves policy of preserving Project Funds. The Designated Bursary Fund provides
financial assistance for those less fortunate who ma), othenvise be excluded from group activities and is primarily funded
from the Membership Subscriptions and Bank Interest. The Designated Bursary Fund was used to fund six community
days during 2024.
The Designated Major Boat Maintenance Fund represents funds set aside to meet exceptional and periodic major
expenditures such as engine replacement, renewal of material items of equipment and repainting. Since the engines in
both boats w'ere replaced at the end of 202J, this fund stood at zero as at year end 2023; an injection of £9,000 was
made in the 2024 financial J'ear to address expected expenditure in the next financial year. The Designated Contingency
Fund was reduced to zero in the 2024 financial year. After ihe preceding transfer 10 the Major Boat Maintenaiice Fuiid.
the balance was transferred to the Income Fund. The trustees endeavour to maintain reserves in this fund to cover 6 - 12
months, operating costs.
Page 4

LONDON NARROW BOAT PROJECT {REGISTERED NUMBER: 02718582)
REPORT OF THE TRUSTEES
ror the Year Ended 31 DECEMBER 2024
FUTURE PLANS
As a leading community boat organisa(ion, the Trnstees continually examine ￿'ayS to further develop the standing of the
Project and expand public awareness of the wide range of facilities and benefit5 M'e can offer, not only to )'oung people
but other deserving members of the communitv. In this context we continue to offer "taster days" and community day
trips. Our attendance at the Crick Boai Show and skippering the trip boats for the organisers has greatly assisted in
furthering the standing of the project within the inland waterways boating comtnunitv and has worked well in increasing
public awareness of our activities. We have again been asked io skipper the trip boats in 2025.
Stringent Risk Assessments and adherence to Boat Safety Regulations plus reliable servicing produce a good reliable
product and are regularly reviewed.
We rely heavily on the professionalism of our Skippers and their interaction with clients. This role of 'Project Skipper,
within the charity is ceniral to ihe success of our operation as the), are the public face of the LNBP. The presence on
a regular basis of our Boats on the 'Cut' with clients obviously enjoying themselves is the best form of advert15ing of
our Product.
We continue to employ a Marketing ConsultanL under the auspices of our Marketing Committee, and he has opened the
possibilities of exploring new avenues within our potential clientele. Our aim continues to be to extend the range of
qualifying Groups, re-kindle our a550ciation with schools and other educational establishment5.
The project continues to make efforts to recruit new trustees and executive committee members. The progressive aim is
to separate operational roles (Executive) from strategic direction, compliance and oversight role5 (trustees) in order to
improve the effeclive governance of the project. but we are finding it challenging 10 attract sufficient personnel to allow
all operational roles to be distinct from the strategic direction and oversighi delivered by the trustees.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The chariiable compan}, is a company limited by guarantee and has no share capital. In the event of the charity being
wound up, the liability in respect of the guarantee is limited to £ I per member of the charity.
To further ensure that the charity meets its full obligations the Trustees meet in January each year to review the detailed
policies, procedures and risk assessments, and to ensure that the London Narrow Boat Project operates in accordance
with the requirements of the Charities Commission and Companies House reiJulations. The Trustees will contiiiue to
review all policies and plans for the ensuinu
The charit), is governed by its Memorandum and Articles of Association dated 29 May 1992 and amended by special
resolutions on 17 June 1995, 20 November 2006. 30 June 2007. 6 July 2013 and IJ October 2020.
During 2018, the Project has incorporated the Gevjeral Data Protection Regulations, introduced by the government to
ensure that any Data held by organisations is accurate and used for the correct purposes by that organisation. The Project
requires the express consent of ihe ow'ners of ihai inforniation for thai dath to be stored by use and also outlines the
methods by which the Project is allowed to contact these omners, also by consent of the 0￿￿ers.
New Trustee5 recruitment, induction and training
Trustees are appointed at an AGM to serve for a three-year terni and each Trustee has a defined area of responsibility to
focus on.
The charity is organised so tha( the board of trusiees vote for decisions to be made. The Board approves all major
expenditure and two auihorised signatories are required to approve any pa}qnenl made from the bank account.
Membership
There were 71 members at 31 December 2024 (2023= 82)- each member is liable in the event of the winding up of the
company for a m&ximum amount of £ l each.
Page 5

LONDON NARROW BOAT PROJECT {REGISTERED NUMBER: 02718582)
REPORT OF THE TRUSTEES
ror the Year Ended 31 DECEMBER 2024
This report has been prepared in accordance with the special provisions ol Part 15 of the Companie5 Act 2006 relating
to small companies.
Approved by order of the board of trustees on............................................. and signed on its behalf by=
Ms K Everett - Trustee
Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
LONDON IYARROW BOAT PROJECT
Independent examiner's report to the trustees of London Narrow Boat Projeet ('the Company,)
I report to the charily irusiees on my examination of the accounts of the Compan). for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity s trustees of the Company (and a150 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 Aci 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 independeni examination. I report in respect of my examinaiion of ).'our charili's accounts as carried
out under Section 145 of the Charities Act 2011 ('the 201 l Act,). In carr)wints out my examination I have followed the
Directions given by the Charitv Commission under Section 145(5) (b) of the 201 l Act.
Independent examiner's statement
I have completed my examination. I confinn that no matters have come to my attention in connection with the
examination giving me cause to believe-
accounting records ￿'ere not kept in respect ofthe Company as ￿qUIred by Section 386 of the 2006 Act; or
the accounts do not accord M'-ith those records- or
the accounts do not comply with the accounling requirements of Section 396 of the 2006 Act other than any
requirement that the accounts give a true and fair view which is nol a matter considered as part of an independent
examination. or
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 M'ith the examination to which attention should
be drawn in this report in order (o enable a proper understanding of the accounts to be reached.
Tara Aldwin ACA
The Institute of Chartered Accountants in England and Wales
FKCA Limited
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL
Date:
Page 7

LONDON NARROW BOAT PROJECT
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUND
for the Year Ended 31 DECEMBER 2024
2024
2023
DeS1.￿lated
- Bursary
Fund
Designated
Boat
Fund
Income
Fund
Total
funds
Total
funds
Notes
ILYCOME AND
ENDOWMENTS FROM
Donations and legacies
,615
15.860
17,475
11,338
Charitable activities
Boat hire
Advertising, events courses and
meetings
25,045
25,045
19,233
756
756
Investment income
861
861
855
Total
2,476
41,661
44,137
31,426
EXPENDITURE ON
Charitable activities
Boat hire
Advertisin& events courses and
meetings
814
42,022
42,836
46,107
7,964
7,964
4,756
Total
814
49,986
50,800
50,863
NET
INCOME/{EXPENDITURE)
Transfers between fund5
Other recognised gain51(1055es)
Gains on revaluation of fixed
assets
2,476
{1.800)
(814)
9.000
(8,i25)
(7.200)
(6,663)
(19,437)
10
20,420
Net movement in funds
676
8.186
(15,525)
(6,663)
983
RECONCILIATION OF
FUNDS
Total ￿ndS brought fonvard
11,820
95.387
47.902
155,109
154,126
TOTAL FUNDS CARRIED
FORWARD
12.496
103.573
32,377
148,446
155,109
The notes fonn part of these financial statements
Page 8

LONDON NARROW BOAT PROJECT {REGISTERED NUMBER: 02718582)
BALANCE SHEET
31 DECEMBER 2024
2024
Total
funds
2023
Total
funds
Notes
FIXED ASSETS
Tangible assets
94,974
95,959
CURRELYT ASSETS
Debtors
Cash at bank
8,822
69,968
1,173
85,266
78,790
96,439
CREDITORS
Amounts falling due within one year
(25,318)
(37,289)
NET CURRENT ASSETS
53,472
59,150
TOTAL ASSETS LESS CURRENT
LIABILITIES
148,446
155,109
NET ASSETS
148,446
155,109
FUNDS
Unrestricted funds
io
148,446
155,109
TOTAL FUNDS
148,446
155,109
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 December 2024.
The nienibers have not required the company to obtain an audit ol it5 financial statements for the year ended
31 December 2024 in accordance with Section 476 of the Companies Aci 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charithble company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the charitable company as
at the end of each financial year and of its surplus or deficit for each financial year in accordance with the
requirement5 of Sections 394 and 395 and which othenvi5e comply with the requirements of the Companie5 Act
2006 relating to financial statements. so far as applicable io the charitable company.
(b)
The notes fonn part of these financial statements
Page 9
continued...

LONDON NARROW BOAT PROJECT {REGISTERED NUMBER: 02718582)
BALANCE SHEET- Conlinued
31 DECEMBER 2024
These financial statements have been prepared in accordance with the provision5 applicable to charitable companies
subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue
. and were signed on its behalf by:
on
Ms K Everett - Trustee
Mr J Tobin- Trustee
The notes fonn part of these financial statements
Page 10

LONDON NARROW BOAT PROJECT
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial stalemenls of the chariiable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reportinu
by Charities.. Statement
of Recommended Practice applicable to charities preparing their accounts in accordance M'ith the Financial
Reporting Standard applicable in ihe UK and Republic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention, as modified by the revaluation of certain assets.
The presentation currency of the financial statements is the Pound Sterling {£).
Going concern
The trustee5 consider that there are no material uncertainties about the Charltable Company's ability to continue
as a going concern.
Income
All income is recognised in (he Sialemeni of Financial Aciivities once the chariN' has entitlement to the funds, it
is probable that the income ￿.-111 be received and the amount can be measured reliably.
The following policies are applied to particular categories of income..
Donations and le
acies
Income received b)1 way of donations is included in full in the Statement of Financial Activities when receivable.
Legacies are included when the amounts can be reasonably quantified and the charity has certainty of receipt.
Investment income
Investment income is included when receivable.
Charitable aciivities
Incomints resources from charitable activities are accounied for when earned.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure: il is probable Ihai a transfer of economic benefits will be required in settlement aiid
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrua15 basis and has
been classified under headings that aggregate all cost related to the category. JhThere costs cannot be directly
aitribuled to particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Charitable activities
Costs of charitable aciivities include costs of providing the narrow boats for the use of deprived, partially
disabled and disadvantaged children and related support costs.
Governance eosts
Govemance costs represent the cost of the external independent examination, Trustees meetings and related
support costs.
Tangible fiyed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and
accumulated impainnent losses.
Depreciation 15 provided at the follom'ing annual rate5 in order to write off each asset over it5 estimated useful
life.
Computer equipment
Fixtures and fittings
300/0 on reducing balance
15 years on a straight line basis
Pagell
continued...

LONDON NARROW BOAT PROJECT
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 31 DECEMBER 2024
ACCOUNTING POLICIES- continued
Tangible fixed assets
Narrowboats..
The narrowboat structures are stated at revalued amount less accumulated depreciation and impairrnent losses.
The narrowboats are regularl). maintained to a standard where any further depreciation arisiTJg from the use of the
boat5 would be considered negligible.
Taxation
The charity is exempt from corpordtion tax on its charitable activities.
Fund accounting
All funds are unresiricted and to be applied for charitable purposes. The unrestricted designated funds are held
for the following purposes:
Bursary Fund..
Boat Fund..
Major Boat Maintenance Fund..
to provide funds to meet fluctuating bursary grants
representing the funds used in the capital value of the boats
to provide fimds for significant repair or maintenance of boats
Donated goods and services
In accordance with the Charitie5 SORP (FRS 102), the general volunteer time is not recognised in the financial
statements.
Legal status of the charity
The charitable company is a company limited by guarantee and has no share capital. In the event of the charity
being wound up, the liability in respect of the guarantee 15 limited to £1 per member of the charity.
CRITICAL ACCOUNTIIYC JUDGEMENTS AND KEY SOURCES OF ESTIMATION UINCERTAINTY
In the application of the company's accounting policies. the trustees are required to mak.e judgements, estimates
or assumptions about the carryiiig amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associaied assumptions are based on historical experience ai)d other factors that are
considered to be relevant. Aciual results may differ from these estimates.
The estimates and underlj'ing assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in w'hich the estimate is revised where the revision affects onlv that period, or in the
period of the revision and future periods M,here the revision affects both current and future periods.
In the opinion of the trustee5 there are no critical accounting judgements.
The key source of estimation uncertainty. M'hich may have a significant effect on the amounts recognised in the
financial statements, relates to the valuation of na￿owb0ats. In the prior year, the trustees obtained a valuation
on an open market basis. The valuation takes inlo conslderation the current market conditions and the fit out of
the narrowboats.
Page 12
continued...

LONDON NARROW BOAT PROJECT
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 31 DECEMBER 2024
INVESTMENT INCOME
2024
Deposit account interest
861
855
NET INCOMEI(EXPENDITURE)
Net incomel(expenditure) is ststed after chargingl(crediting):
2024
2023
Under accrued auditors remuneration
Independent examiners fees
Independent exaniiners fees - non assurance
Depreciation - owned assets
493
1,470
1,350
1,070
1,700
1,582
985
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year
ended 31 December 2023.
Trustees, expenses
During the year, five (2023: four) (rus(ees were reimbursed office, travelling and boat expenses totalling £1:646
(2023- £560).
TANCIBLE FIXED ASSETS
Fixtures
and
fittings
Computer
equipment
Narrowboats
Totals
COST OR VALUATION
At l January 2024 and 31 December 2024
299.028
12,200
2,194
313,422
DEPRECIATION
At l January 2024
Charge for year
215,028
813
814
,622
217,463
985
At 31 December 2024
215,028
1,627
,793
218,448
NET BOOK VALUE
At 31 December 2024
84,000
10.573
401
94,974
At 31 December 2023
84,000
11,387
572
95,959
Page 13
continued...

LONDON NARROW BOAT PROJECT
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 31 DECEMBER 2024
TANGIBLE FIXED ASSETS- continued
Cost or valuation at 31 December 2024 is represented by-
Fixtures
and
fittings
Computer
equipment
Narrowboats
Totals
Valuation in 2018
Valuation in 2023
Cost
13,768
20,420
279,234
20.420
264.840
12,200
2,194
299,028
12,200
2,194
313,422
The narrowboats were independently valued as at 31 December 2023 on an open market basis by Braunston
Marina at £42,000 for each boat.
The carrying amount that would have been recognised had the assets been carried under the cost model would be
£63,580.
DEBTORS: AMOUNTS FALLING DUE WITHIN OIYE YEAR
2024
2023
Prepayments
8,822
11,173
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Accrued expenses
12,997
12,321
24,129
13,160
25,318
37,289
ANALYSIS OF NET ASSETS BETWEEIY FUIYDS
2024
2023
Designated
Bursary
Fund
Designated
- Boat
Fund
Income
Fund
Total
funds
Total
funds
Fixed assets
Current assets
Current liabilities
84.000
19.573
10,974
46,721
(25.J18)
94,974
78,790
(25,318)
95,959
96,439
{37,289)
12,496
12,496
103.57J
32.377
148.446
155,109
Page 14
continued...

LONDON NARROW BOAT PROJECT
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 31 DECEMBER 2024
io.
MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
betM".een
funds
At
31.12.24
At 1.1.24
Unrestricted fund5
Designated - Bursary Fund
Income Fund
Designated - Boat Funds
Designated - Major Boat Maintenance
Fund
Designated - Contingency Fund
11.820
21,844
2,476
{8,325)
(814)
(1,800)
18,858
12,496
32,377
94,573
9.000
(26,058)
9,000
26.058
155.109
(6,663)
148,446
TOTAL FUNDS
155.109
(6,663)
148,446
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
Designated - Bursary Fund
Income Fund
Designated - Boat Funds
2,476
41.661
2,476
(8,325)
(814)
(49,986)
(814)
44.137
(50,800)
(6,663)
TOTAL FUNDS
44.137
(50,800)
(6,663)
Comparatives for movement in funds
Net
movement
in funds
Transfers
between
funds
At
31.12.23
At 1.1.23
Unrestricted funds
Designated - Bursary Fund
Income Fund
Designated - Boat Funds
Designated - Major Boat Maintenance
Fund
Designated - Contingency Fund
13.495
62,944
40.000
2,525
(1,542)
(4,200)
(39,558)
55,387
11,820
21,844
95,387
11.629
26.058
(11,629)
26,058
154.126
983
155,109
TOTAL FUNDS
154.126
983
155,109
Page 15
continued...

LONDON NARROW BOAT PROJECT
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 31 DECEMBER 2024
io.
MOVEMENT IN FUNDS- continued
Comparative net movement in fund5, included in the above are a5 follows..
Incoming
resource5
Resources
expended
Gains and
1055es
Movement
in funds
Unrestricted funds
Designated - Bursary Fund
Income Fund
2.525
28.901
2,525
(1,542)
(50,863)
20,420
31.426
(50.863)
20,420
983
TOTAL FUNDS
31.426
(50,86))
20,420
983
A current year 12 months and prior year 12 months combined position is as follows:
Net
moveinent
in funds
Transfers
between
funds
At
31.12.24
At 1.1.23
Unrestricted funds
Designated - Bursary Fund
Income Fund
Designated - Boat Funds
Designated - Major Boat Maintenance
Fund
Designated - Contingency Fund
13.495
62.944
40.000
5,001
(9,867)
(814)
(6,000)
(20,700)
55,387
12,496
32,377
94,573
11.629
26,058
(2,629)
(26,058)
9,000
154,126
(5,680)
148,446
TOTAL FUIYDS
154,126
{5,680)
148,446
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are
as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unreslricted funds
Designated - Bursary Fund
Income Fund
Designated - Boat Funds
5,001
70.562
5,001
(9,867)
(814)
(100,849)
(814)
20,420
75.563
(101,663)
20,420
(5,680)
TOTAL FUNDS
75.563
(101,663)
20,420
(5,680)
Fund purposes and transfers
The unrestricted designated funds are held for the following purposes:
Bursarv Fund..
Boat Fund..
Major Boat Maintenance Fund..
to provide funds to meet fluctuating bursary grants
representints ihe funds used in the capital value of the boats
to provide funds for significant repair or maintenance of boat5
Page 16
continued...

LONDON NARROW BOAT PROJECT
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 31 DECEMBER 2024
io.
MOVEMENT IN FUNDS- continued
Fund purposes and transfers- continued
Transfers
Bursary fund - A transfer was made between the BuT5ary Fund and Income Fund for community day use of the
boats.
Contingency fund - A decision made to transfer the contingency fund into the income fund.
Major Boat Maintenance Fund - A transfer was made to the Major Boat Maintenance Fund to cover expected
repairs to the boats in the next financial year.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024 (2023: Nil).
12.
ULTIMATE CONTROLLING PARTY
The charity is controlled by the members of the charity.
Page 17