SLEAFORD NAVIGATION TRUST
A non-profit distributing company limited by guarantee. Registered in England & Wales No: 3294818. Registered Charity No. 1060234 Registered Office: Unit 16B First Floor, Chiltern Court, Asheridge Road, Chesham, HP5 2PX
Directors’ Annual Report, December 2024
This is the twenty-eighth annual report of the Directors of the Trust and covers the year to 31[st] December, 2024. The company was incorporated on 19th December,1996 and its full name is the Sleaford Navigation Trust. A company limited by guarantee, registered in England and Wales No. 03294818, the Trust is also a registered charity No. 1060234. The governing documents of the Trust are the memorandum and articles of association which have been approved by the Charity Commission.
The Directors of the Trust during the year to 31[st] December 2024 were:
Christine Hayes (Chairman) David Carnell Stephen Hayes (Secretary) Penny Carnell Debbie Scott Will Pickworth (Treasurer) Susan Sowerby Robin Saul Melvyn Sowerby
No director may remain in office for more than three years without seeking re-election.
The Trust registered office is Unit 16B First Floor, Chiltern Court, Asheridge Road, Chesham, HP5 2PX General correspondence should be addressed to the Secretary at 10 Chelmer Close, Lincoln. LN6 8TH. The main Agents of the Trust are:
Bankers: Lloyds Bank plc, 2 Northgate, Sleaford, Lincolnshire. NG34 7BL
Auditors: Amanda Jay of Sleaford Membership Secretary: Jenny Osborne, Bank House, Ruskington Fen, Billinghay, Lincoln, LN4 4DS
Objectives, Organisation and Activities
The Company was established to stimulate public interest in and appreciation of the history, structure and beauty of the waterway known as the Sleaford Navigation or Kyme Eau and to promote the restoration and preservation of the waterway for navigation and other purposes.
The Trust
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is organised and controlled by its Directors who provide their services on a volunteer basis as members of the Executive Board which meets monthly, or more frequently if necessary, to formulate and implement strategy and to review progress. There are no paid or seconded staff.
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is a corporate member of the Inland Waterways Association which shares certain objectives with the Trust and provides help and support nationally and locally to all organisations engaged in waterway restoration.
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is a member of the Sleaford Sports Partnership.
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produces its own newsletter which is circulated to members.
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has a website www.sleafordnavigation.co.uk and a Facebook page.
Review of Progress and Achievements
During the year, the Trust has continued the publicity campaign undertaken in previous years. Executive Board meetings were occasionally conducted by Zoom but were predominantly face-to-face gatherings.
Representatives of the Trust attended:
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A Witham Catchment Partnership summit meeting in Lincoln.
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Meetings of the South Kyme Working Group consisting of representatives from SNT, SKPC and the EA.
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A meeting of the Slea Flood Resilience Project.
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Meetings related to Sleaford Town Council Neighbourhood Plan.
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The unveiling of the Sleaford Arboretum Mosaic.
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Sleaford Civic Trust Blue Plaque Launch.
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Heritage Culture Forum meetings in Sleaford.
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Meetings at NKDC in connection with the UK Shared Prosperity Funding.
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Several visits to HD Narrowboats in relation to the building of the trip boat shell.
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A meeting with Town Council representatives in connection with the mooring of the trip boat.
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The Mayor of Sleaford’s Civic Service and Reception.
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Meetings regarding the RiverLight Festival in Sleaford. Representatives of the Trust also manned a stall at the event which was held in June.
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A drop-in meeting in South Kyme concerning a proposed reservoir in South Lincolnshire.
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A meeting of the Sleaford Veterans Breakfast Club to explain the volunteer opportunities related to the trip boat.
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A display at the Library about the Trust.
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A stand at the Classic Car & Motor Cycle Show in Sleaford.
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Heckington Show with a display in the Heritage Marquee.
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Sleaford Christmas Market with a display in Navigation House.
Trust work parties have continued at a number of locations including Taylors Lock and Sleaford where vegetation along the path by the river was cut back.
The trip boat, Benjamin Handley, was launched on August 13[th] and additional work parties relating to the fit out of the trip boat took place in Sleaford.
The Handley Cup was moved to the Sleaford Museum where it was to be displayed until April 2025 before being relocated in Navigation House.
The Trust continued to be part of the NKDC Good Cause Lottery receiving funds from the sale of tickets. The connection with Grantham Anglers Fly-fishing Section (GAFFS) continued.
Review of Financial Activities and Affairs
The resources available are considered adequate to enable the Trust to continue its work effectively at this stage of the restoration programme. The Trust's assets are adequate to fulfil all its obligations and there are no commitments which are required to be disclosed in this report or the notes to the accounts. The Trust is registered for VAT.
For and on behalf of the Executive Board Steve Hayes, Director & Secretary
SLEAFORD NAVIGATION TRUST
A non-profit distributing company limited by guarantee.
Registered in England & Wales No: 3294818. Registered Charity No.1060234 Registered Office: Island House, Moor Road, Chesham HP5 1WA
Statement of Financial Activities : Year Ending 31st December 2024
| INCOMING RESOURCES Donations and Subscriptions Fund raising Work Done Grants Received Total Incoming Resources 1 EXPENDITURE Direct Charitable Expenditure Plant & Equipment Depreciation Winding Hole Working Parties Landing Stages Haverholme South Kyme Trip Boat 2 Other Expenditure Fundraising & Publicity Administration Office Equipment Depreciation Travel Expenses Repairs & Maintenance Miscellaneous 3 Total Expenditure 4 (2+3) Net Incoming Resources 5 (1-4) Funds brought forward 6 Funds carried forward (5+6) |
Designated Unrestricted Total Year to Funds Funds Funds 31st Dec 2023 2,216.42 2,216.42 778.25 895.46 895.46 570.66 0.00 0.00 0.00 33,065.55 33,065.55 5,778.33 |
|---|---|
| 0.00 36,177.43 36,177.43 7,127.24 |
|
| 579.79 579.79 579.79 0.00 0.00 0.00 0.00 0.00 578.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,969.29 3,969.29 420.00 |
|
| 0.00 4,549.08 4,549.08 1,577.97 |
|
| 145.00 145.00 769.30 894.55 894.55 689.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 54.13 54.13 33.97 |
|
| 0.00 1,093.68 1,093.68 1,493.19 |
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| 0.00 5,642.76 5,642.76 3,071.16 0.00 30,534.67 30,534.67 4,056.08 0.00 21,000.86 21,000.86 16,944.78 |
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| 0.00 51,535.53 51,535.53 21,000.86 |
For and on behalf of the Executive Board
Chris Hayes, Chairman
SLEAFORD NAVIGATION TRUST
A non-profit distributing company limited by guarantee.
Registered in England & Wales No: 3294818. Registered Charity No.1060234 Registered Office: Island House, Moor Road, Chesham HP5 1WA
Balance Sheet as at 31st December 2024
| 12/31/2024 | 12/31/2023 | |||||
|---|---|---|---|---|---|---|
| Fixed Assets | ||||||
| Land | 6,000.00 | 6,000.00 | ||||
| Sleaford Cup | 3,500.00 | 3,500.00 | ||||
| SN(S)Ltd. | 99.00 | 99.00 | ||||
| Site Plant | 34,820.32 | 8,304.77 | ||||
| less accumulated depreciation | (3,798.97) | 31,021.35 | (3,219.18) | 5,085.59 | ||
| Office Equipment | 4,898.73 | 4,898.73 | ||||
| less accumulated depreciation | (4,866.73) | 32.00 | (4,866.73) | 32.00 | ||
| 1 | 40,652.35 | 14,716.59 | ||||
| Current Assets | ||||||
| Debtors | 168.39 | 61.01 | ||||
| Bank | 14,011.90 | 6,564.06 | ||||
| Cash in Hand | 0.00 | 0.00 | ||||
| Prepaid Expenses | 0.00 | 543.20 | ||||
| 2 | 14,180.29 | 7,168.27 | ||||
| Current Liabilities | 3 | 2,514.11 | 11.00 | |||
| Net Current Assets(2-3) | 4 | (2-3) | 11,666.18 | 7,157.27 | ||
| Total Assets less current liabilities | 5 | (1+4) | 52,318.53 | 21,873.86 | ||
| Liabilities over 1 year | ||||||
| Life Membership | 6 | (783.00) | (873.00) | |||
| Net Assets(5-6) | (5-6) | 51,535.53 | 21,000.86 | |||
| General Purpose Fund | 51,535.53 | 21,000.86 | ||||
| Designated Fund | 0.00 | 0.00 | ||||
| Total Funds | 51,535.53 | 21,000.86 |
The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.
The directors acknowledge their responsibilities for:
(i) ensuring that the company keeps adequate accounting records which comply with section 386 of the Act, and
- (ii) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
For and on behalf of the Executive Board
Chris Hayes, Chairman
Life Membership Record
| Yearly | 2000 | 2001 | Outstanding | 2002 Outstanding | 2002 Outstanding | 2003 | Outstanding | 2004 Outstanding | 2004 Outstanding | 2005 Outstandin | 2005 Outstandin | 2006 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 01.01.02 | 31.12.02 | 31.12.03 | 31.12.04 | 31.12.05 | ||||||||||
| 1 off Joint | 200 | 10 20 years | 10 | 10 | 180 | 10 | 170 | 10 | 160 | 10 | 150 | 10 | 140 | 10 |
| 1 off Joint | 200 | 10 20 years | 10 | 10 | 180 | 10 | 170 | 10 | 160 | 10 | 150 | 10 | 140 | 10 |
| 1 off Single | 120 | 6 20 years | 4 | 116 | 8 | 108 | 6 | 102 | 6 | 96 | 6 | 90 | 6 | |
| 1 off Single | 100 | 5 | 20 years | 5 | 95 | 5 | 90 | 5 | 85 | 5 | ||||
| Corporate | 500 | 25 | 20 years | 25 | ||||||||||
| 1 off Single | 100 | 5 | 20 years | 5 | ||||||||||
| 1 off Single | 100 | 5 | ||||||||||||
| 1 off Single | 100 | 5 | ||||||||||||
| 1 off Single | 120 | 6 | ||||||||||||
| 1 off Single | 100 | 5 | ||||||||||||
| 1 off Single | 110 | 5 | ||||||||||||
| 1 off Single | 100 | 5 | ||||||||||||
| 4 year | 50 | 12.5 | ||||||||||||
| life | 120 | 6 | ||||||||||||
| 100 | 5 | |||||||||||||
| 120 | 6 | |||||||||||||
| 2 year | 20 | 10 | ||||||||||||
| Life | 120 | 6 | ||||||||||||
| Life | 120 |
517 31 486 31 455 61 28 (Includes 2.00 adjustment for 2001)
| Outstandin | 2007 | Outstanding | 2008 | Outstanding | 2009 | Outstanding | 2010 | Outstanding | 2011 | Outstanding | 2012 | Outstanding | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31.12.06 | 31.12.07 | 31.12.08 | 31.12.09 | 31.12.10 | 31.12.11 | 31.12.12 | |||||||||
| 130 | 10 | 120 | 10 | 110 | 10 | 100 | 10 | 90 | 10 | 80 | 10 | 70 | |||
| 130 | 10 | 120 | 10 | 110 | 10 | 100 | 10 | 90 | 10 | 80 | 10 | 70 | |||
| 84 | 6 | 78 | 6 | 72 | 6 | 66 | 6 | 60 | 6 | 54 | 6 | 48 | |||
| 80 | 5 | 75 | 5 | 70 | 5 | 65 | 5 | 60 | 5 | 55 | 5 | 50 | |||
| 475 | 25 | 450 | 25 | 425 | 25 | 400 | 25 | 375 | 25 | 350 | 25 | 325 | |||
| 95 | 5 | 90 | 5 | 85 | 5 | 80 | 5 | 75 | 5 | 70 | 5 | 65 | |||
| 20 | years | 5 | 95 | 5 | 90 | 5 | 85 | 5 | 80 | ||||||
| 20 | years | 5 | 95 | 5 | 90 | ||||||||||
| 20 | years | 6 | 114 |
994 61 933 61 872 66 906 66
840 71 869 77 912
| 2013 | Outstanding | 2014 | Outstanding | 2015 | Outstanding | 2016 | Outstanding | 2017 | Outstanding | 2018 | Outstandin | 2019 | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31.12.13 | 31.12.14 | 31.12.15 | 31.12.16 | 31.12.17 | 31.12.18 | ||||||||||
| 10 | 60 | 10 | 50 | 10 | 40 | 10 | 30 | 10 | 20 | 10 | 10 | 10 | |||
| 10 | 60 | 10 | 50 | 10 | 40 | 10 | 30 | 10 | 20 | 10 | 10 | 10 | |||
| 6 | 42 | 6 | 36 | 6 | 30 | 6 | 24 | 6 | 18 | 6 | 12 | 6 | |||
| 5 | 45 | 5 | 40 | 5 | 35 | 5 | 30 | 5 | 25 | 5 | 20 | 5 | |||
| 25 | 300 | 25 | 275 | 25 | 250 | 25 | 225 | 25 | 200 | 25 | 175 | 25 | |||
| 5 | 60 | 5 | 55 | 5 | 50 | 5 | 45 | 5 | 40 | 5 | 35 | 5 | |||
| 5 | 75 | 5 | 70 | 5 | 65 | 5 | 60 | 5 | 55 | 5 | 50 | 5 | |||
| 5 | 85 | 5 | 80 | 5 | 75 | 5 | 70 | 5 | 65 | 5 | 60 | 5 | |||
| 6 | 108 | 6 | 102 | 6 | 96 | 6 | 90 | 6 | 84 | 6 | 78 | 6 | |||
| 20 | years | 5 | 95 | 5 | 90 | 5 | 85 | 5 | 80 | 5 | |||||
| 22 | years | 5 | 105 | 5 | 100 | 5 | |||||||||
| 20 | years | 5 | 95 | 5 | |||||||||||
| 4 years | 12.5 | ||||||||||||||
| 20 years |
77 835 77 758 82 776 82 694 87 717 92 725 104.5
| Outstanding | 2020 | Outstanding | 2021 | Outstanding | 2022 | Outstanding | 2023 | Outstanding | 2024 | Outstanding |
|---|---|---|---|---|---|---|---|---|---|---|
| 31.12.19 | 31.12.2020 | 31.12.2021 | 31.12.2022 | 31.12.2023 | 31.12.2024 | |||||
| 0 | ||||||||||
| 0 | ||||||||||
| 6 | 6 | 0 | ||||||||
| 15 | 5 | 10 | 5 | 5 | 5 | 0 | ||||
| 150 | 25 | 125 | 25 | 100 | 25 | 75 | 25 | 50 | 25 | 25 |
| 30 | 5 | 25 | 5 | 20 | 5 | 15 | 5 | 10 | 5 | 5 |
| 45 | 5 | 40 | 5 | 35 | 5 | 30 | 5 | 25 | 5 | 20 |
| 55 | 5 | 50 | 5 | 45 | 5 | 40 | 5 | 35 | 5 | 30 |
| 72 | 6 | 66 | 6 | 60 | 6 | 54 | 6 | 48 | 6 | 42 |
| 75 | 5 | 70 | 5 | 65 | 5 | 60 | 5 | 55 | 5 | 50 |
| 95 | 5 | 90 | 5 | 85 | 5 | 80 | 5 | 75 | 5 | 70 |
| 90 | 5 | 85 | 5 | 80 | 5 | 75 | 5 | 70 | 5 | 65 |
| 37.5 | 12.5 | 25 | 12.5 | 12.5 | 12.5 | 0 | ||||
| 6 | 114 | 6 | 108 | 6 | 102 | 6 | 96 | 6 | 90 | |
| 5 | 95 | 5 | 90 | 5 | 85 | 5 | 80 | |||
| 6 | 114 | 6 | 108 | 6 | 102 | 6 | 96 | |||
| 10 | 10 | 10 | 0 | |||||||
| 4.12 | 114 | 6 | 108 | 6 | 102 | |||||
| 6 | 114 | 6 | 108 | |||||||
| 670.5 | 90.5 | 700 | 105.5 | 834.5 | 109.62 | 843 | 90 | 873 | 90 | 783 |
To: The Executive Board, Sleaford Navigation Trust
Tuesday 10[th] September 2025
I confirm that I have carried out an independent examination of the accounting records for Sleaford Navigation Trust, to provide independent assurance that the charity’s money has been properly accounted for and accounting records kept.
Thank you for the prompt response to requests for explanations on any items.
I attach completed Summary of Financial Activities and Balance Sheet.
I draw attention to the importance of maintaining complete income and expenditure detail for the purposes of VAT records and returns.
Yours sincerely, Der Amanda Jay