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2021-09-30-accounts

ASHBY CANAL ASSOCIATION

TRUSTEES REPORT and ANNUAL REVIEW for the YEAR ENDED 30TH SEPTEMBER 2021

Reference and Administrative Details

Ashby Canal Association is a Registered Charity No 1063566, Company No 3396198, limited by guarantee registered in England whose Registered Office is at Ivanhoe House, 31 Tamworth Road, Ashby de la Zouch Leicestershire LE65 2PW Trustees: P. Oakden (Chairman), D. Watts, C. Walker, R. Smith, A Smith, R. Taylor, R Dyason, M Wooding, C Aston, A Jenkins and M Jeffs. Following the sad passing on 29[th] April 2021 of Cyril Blackford after more than 40 years of devoted and much valued service to the Association, W.G.Hetherington was appointed as the new Secretary. Advisers: G. Pursglove (Chairman, Ashby Canal Trust); Prof. O.P. Mulka, (President of the Association). M. Bird (newsletter editor and design adviser) A. Jenkins (web-master) and H. Worth, (IWA Honorary Engineer.) Bankers: HSBC Bank plc, Market Place, Hinckley, LE10 1NU Solicitors: M & S Solicitors Ltd, 20 Newton Road, Heather Leics. L, E67 2RD.

Independent examiner of accounts: Patricia Richardson of 18 Monks Way, Amington, Staffordshire B77 5JB. Associated enterprise: Fund-raising trading activities for the Association were undertaken by The Ashby Canal Company Limited (“ACC”) whose directors (nominees of ACA) were: J. E. Roddis (Chairman), C.W. Blackford (Secretary), D. Watts, M Wooding, J. Dillon (Non-executive), N. Smith (Non-executive). Following the death of C.W.Blackford, W.G.Hetherington was appointed Secretary.

Vice Presidents: S.J.Wain; J.C.Beaney Patron: A Bridgen MP

Structure, Governance and Management

Ashby Canal Association (“ACA”) was incorporated on 2nd July 1997 and is governed by Memorandum and Articles of Association dated 10th June 1997. It took over the activities of the former unincorporated organisation of the same name originally founded in February 1966. The trustees are nominated and elected by the members of the Association from within the membership, serve for a period of three years and retire by rotation. Along with co-opted members they form the management committee, undertaking the day to day running of ACA’s affairs and decision-making. There are no outside appointees. No committee members received remuneration for their services other than payment of out-of-pocket expenses, such as postage, travelling expenses, etc., most of which was donated back to ACA.

A Health & Safety policy is in place and safety issues were reviewed at management committee meetings. Public liability and other major risks are covered by appropriate insurance. Major risks are kept under review. For events and work parties, risk assessments are carried out. Appropriate financial policies are in place, and the accounts are subject to independent examination.

Objects and Activities

(1) The principal objectives of ACA, set out in full in its Memorandum of Association, are to improve the condition of, preserve, and enhance the Ashby de la Zouch Canal for the benefit of the public and to promote and assist the restoration of the derelict northern reaches of the canal.

The Trustees declare that the Association’s objectives are not exclusive to any particular interest group, are for public benefit and that the charity constitutes a public benefit entity under Financial Reporting Standard 102. All of the Association’s activities are continuing operations and the Association is a going concern.

(2) Relationships with other organisations and charities

The Association maintained working relations with The Canal and River Trust (“CRT”), The Inland Waterways Association (“IWA”), The Ashby Canal Trust (“ACT”), Leicestershire County Council (“LCC”), North West Leicestershire District Council (“NWLDC”), Hinckley and Bosworth Borough Council (“HBBC”), Natural England and The Environment Agency and had dialogue with local district and county councillors and the Member of Parliament. The Association is a corporate member of IWA, a member of the Association of Waterways Cruising Clubs, and is represented on the board of the Ashby Canal Trust.

(3) Volunteer contributions

ACA is fortunate to have many volunteers. Volunteer work parties undertook regular maintenance of the Association’s canal-side land and buildings at Snarestone Wharf, work on the line of the canal around the Gilwiskaw Aqueduct and at the Illott Wharf site. With the assistance of a grant from IWA, ACA volunteers have been constructing a footpath along the route of the future restored canal between Snarestone Wharf and the new terminus in Measham. Weekly work parties have been laying hardcore, installing gates and signposts and building steps. Work is ongoing. They also took part in ACT work parties at Moira. A project to refurbish benches along the canal continued. The Moira Canal Festival was cancelled this year due to Covid, but will take place next year. Administrative, membership, secretarial and accountancy work was done voluntarily. Most of ACA’s regular social events have not been possible this year in view of Covid, but smaller events were arranged when national regulations allowed. Newsletter editing, database, publicity design and web-site management were also undertaken entirely by volunteers or as gifts in kind. The oversight of Heritage Lottery Funded archaeological survey work and public events related thereto, was done by volunteers, as was planning for the next phases of canal restoration. ACA's sales and information kiosk at Snarestone was available, when permitted, for visiting boaters and walkers, thanks to a dedicated group of volunteers and our volunteer site caretakers.

In total, 6802 hours of voluntary work were contributed to the Association during the year, equivalent in monetary terms to more than £120,000. The trustees record their thanks to all those involved.

Covid-19 Restrictions: The lockdown restrictions prevented our usual our social programme for the year, forced the closure of our Sales Kiosk and restricted our work party operations. These now operate under the latest guidelines and

have been restricted in numbers. The committee has conducted the management business by mail and telephone, but has resumed meetings in person when restrictions were lifted.

(4) Achievements and Performance

● Canal Restoration: Restoration plans are in place for the canal northwards from Bridge 62. To assist in this work, the working Canal Boat Ram was purchased and refurbished. It will be well used by volunteers trained in its safe operation. Leicestershire County Council agreed to transfer the 2005 Transport and Works Act Order (“TWAO”) to ACA since they no longer wished to continue with their involvement in the canal restoration scheme. The implementation of this transfer is progressing slowly. Upon completion, ACA will be the land-owners in a position to apply for a substantial Heritage Lottery Fund (“ HLF”) Grant. As a precursor to the application, ACA carried out a HLF funded Industrial Archaeological investigation at Illott Wharf which was completed and the formal report issued by Leicester University in April 2019. Rules for Lottery Grant Applications changed significantly early in 2019. Previously a grant for canal restoration could only be applied for where works are carried out on the original route. This is no longer the case where the emphasis is now more on features including benefits to the public and local community. Once the TWAO transfer is complete ACA may apply for a grant to fund restoration either from Bridge 62 to Measham or from Bridge 62 to Gallows Lane.

The timing of the TWAO and the grant application have been affected by Covid restrictions but the application for transfer is now with DEFRA.

● Fund Raising : The Restoration Appeal continued, with the Gilwiskaw Aqueduct appeal continuing to attract donations. Profit from the operation of ACC amounting to £6,810.35 was donated under covenant to the Association. The figure achieved was remarkable considering the restricted footfall and boat visitors during the year. ● Publicity: We provided information for visitors through the ACA website, hotline, leaflets, free maps, notice boards and in person at the information kiosk at Snarestone Wharf. ● Public Events: The popular Moira Canal Festival did not take place in May 2021 due to the Covid restrictions

● General ACA representatives attended CRT Waterway User Group meetings during the year. Development proposals and planning applications affecting the whole length of the canal and its environment were scrutinized by the management committee, and comments made where appropriate to local authorities. ACA continued to manage the use of the slipway and moorings at Snarestone, which are owned by LCC. This arrangement provided a valued service to trail-boater, canoeists and visiting boaters. The off-line nature reserve on ACA land at Snarestone provides a valuable habitat for thriving wildlife. Maintenance work on the reserve was carried out by ACA volunteers.

Social meetings with speakers, which are open to members and the general public, were not possible during the year, but will be planned during the coming winter and spring months to promote interest in the canal and its historic and social environment. ACA’s newsletter, ’Spout’, was published quarterly, to communicate with members and the public. ACA’s web-site (ashbycanal.org.uk) provided news and information, and also facilitated many email enquiries from the public. The Facebook Group “Ashby Canal Association Friends” continued to be popular.

Financial review

Major Risks The major risks to ACA are (a) that ACA ceases to have sufficient funds to carry out its day to day objectives and (b) that volunteer input does not continue at its present level, as all its activities are performed by volunteers. Both these risks are regularly reviewed by the management committee and policies put in place when required to help mitigate them.

Policy on reserves

The policy of the management committee is to maintain a general reserve at a prudent level, sufficient in their view to meet anticipated revenue expenditure in the short term (up to one year). ACA also holds designated reserve funds to enable the Association to make substantial financial contributions towards the canal restoration scheme over the next five years; this includes specific funds designated to the supply of bricks for the construction of the Gilwiskaw aqueduct. the supply of bricks for the construction of the Gilwiskaw aqueduct. Other financial information

Subscriptions and generous donations from members and the public continued to form a large part of ACA's revenue, most of which were gift-aided. Specific donations were received towards the restoration of the canal's northern reaches. ACC raised funds for ACA through its sales shop and a bric-a-brac stall. A card payment system is installed. ACC also sold advertising and collected mooring and slipway fees. ACC’s entire net profit amounting to £6,810.35 was donated to ACA. The Association records its thanks to all who have supported it with cash or in kind and to all the volunteers. Interest rates remained low during the year. Some reserve balances were placed in short term HSBC Money Market accounts. A conservative low-risk approach is taken to investing funds. Life memberships are recorded in a separate fund and written back into revenue over a period of ten years. The detailed financial results are set out in the statement of accounts showing a net deficit of £1080.97 for the year. The accounts show details of the designated funds allocated to the restoration scheme. No funds were held on behalf of others. All funds are deposited in a UK bank. There were no funds in deficit. The accounts have been independently examined and certified.

Membership

Membership figures continued to grow. At 30th September 2021 there were 617 members, including 172 life members. (2020: total membership 588)

THE TRUSTEES DECLARE THAT THEY HAVE APPROVED THE ABOVE REPORT

Signed on behalf of the charity’s trustees

PETER OAKDEN Chairman

ASHBY CANAL ASSOCIATION

Registered Charity No 1063566 Company registered in England No 3396198 Registered Office Ivanhoe House, 31, Tamworth Road, Ashby-de-la-Zouch L65 2PW

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2021

Statement of Financial Activities
INCOMING RESOURCES
Donations legacies and subscriptions:
(note 2)
Subscriptions received from members (incl Gift Aid)
(note 2)
Donations, appeals and grants received (incl Gift Aid)
(note 2)
Donated services and facilities
(note 4)
Funds received from NWLDC
Grants Received
No Grants were received this year
Income Earned from other activities
Profits from The Ashby Canal Co. Ltd
Shop Sales
ACC Misc Receipt
Investment and other income
Interest Received
TOTAL INCOME
RESOURCES EXPENDED
Expenditure on raising funds
Publicity
Quiz Night Expenditure
Charitable Activities
Publications
Canal restoration project (TWA Transfer Legal Fees)
Canal enhancement projects
Work parties, site expenses, health & safety, training
Meetings, talks, events
Other expenditure
Subscriptions paid
Depreciation of fixed assets
Legal, audit, licences and bank charges
Administration
Insurance
Measham Footpath Expenditure
Aqueduct Appeal Expense
Shop Stock Purchases
Purchase of workboat RAM
TOTAL EXPENDITURE
NET INCOME (surplus of income over expenditure for the year)
RECONCILIATION OF FUNDS(Note 4)
Movement on funds for the year
Balances b/f at 1st Oct 2020_(note 5)
(note 4)_
Addition of Workboat RAM Asset
surplus of income over expenditure for year
TOTAL FUNDS CARRIED FORWARD		 Restricted
Funds
Unrestricted
Funds
Total Funds
6,581.06
6,581.06
19,479.67
19,479.67
0.00
0.00
20,000.00
-
20,000.00
0.00
0.00
6,810.35
6,810.35
3,743.34
3,743.34
486.25
486.25
300.24
300.24
20,000.00
37,400.91
57,400.91
194.87
194.87
0.00
0.00
2,397.64
2,397.64
14,671.82
14,671.82
443.97
443.97
2,037.88
2,037.88
41.00
41.00
56.00
56.00
377.21
377.21
872.00
872.00
3,038.81
3,038.81
704.91
704.91
5,136.97
5,136.97
1,483.62
1,483.62
1,503.64
1,503.64
5,521.54
5,521.54
38,481.88
38,481.88
20,000.00
-1,080.97
18,919.03
267,970.56
267,970.56
5,521.54
5,521.54
20,000.00
-1,080.97
18,919.03
20,000.00
272,411.13
292,411.13		 Prior year 2020
6,621.50
22,409.46
1,365.00
0.00
10,859.00
1,354.30
42,609.26
909.53
404.58
1,933.02
2,189.26
1,388.15
1,179.64
0.00
56.00
347.11
6,974.00
953.66
697.20
65.82
86.62
17,184.59
25,424.67
240,745.39
26,274.67
267,970.56

ASHBY CANAL ASSOCIATION

BALANCE SHEET AS AT 30TH SEPTEMBER 2021
Tangible Fixed Assets(note 3)
Freehold land
Portable buildings,swingbridge, tools & equipment, at cost
less accumulated depreciation
Current Assets
Debtor – The Ashby Canal Co. ltd
Bank Balances - deposit account
- money market accounts short notice
- current account
Cash in hand
Shop Stock and cash transferred from Ashby Canal Company
Creditors falling due in less than one year
Subscriptions in advance
other creditors
Net current assets
TOTAL NET ASSETS
ACCUMULATED FUNDS (note 4)
Unrestricted Funds
General Fund
Life membership Fund
Designated funds:
Restoration scheme (aqueduct)
Restoration scheme (general)
Restricted Funds
NWLDC Fund		 Restricted
Funds
20,000.00
20,000.00		 13,257.00
17,908.82
(7,432.32)
10,476.50
10,476.50
23,733.50
113.75
53,468.94
159,932.67
54,477.98
198.04
486.25
268,677.63
0.00
0.00
268,677.63
292,411.13
Unrestricted
Funds
Total Funds
102,931.29
102,931.29
9,866.40
9,866.40
89,311.36
89,311.36
70,302.08
70,302.08

20,000.00

272,411.13
292,411.13		 prior year 2020
13,257.00
12,387.28
(7,055.11)
18,589.17
600.00
53,201.37
159,900.00
35,473.98
206.04
249,381.39
0.00
0.00
249,381.39
267,970.56
Total Funds
114,605.02
8,844.27
79,547.37
64,973.90
267,970.56

NOTES TO THE ACCOUNTS

1 Basis of Preparation The accounts are prepared under the historical coat convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been produced in accordance with the Statement of Recommended Practice for Accounting and Reporting by Charities (FRS102) issued 16[th] July 2014

The charity constitutes a public benefit entity as defined by FRS102.

The charity is a company limited by guarantee registered in England. It is a going concern.

2 Accounting policies The accounts present a true and fair view. There have been no changes in accounting policies. The standard list of accounting policies outlined in FRS102 have been applied except for the treatment of life membership fees are treated as outlined below, a policy consistently applied since 2009

Life membership fees are capitalised and written into the accounts over a period of 10 years.

Donated services and facilities ( gifts in kind )

Donated services used immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading No donated services or facilities were received this year.

3 Assets

The standard list of accounting policies in FRS 102 relating to assets have been applied. The charity has no intangible assets Tangible fixed assets are depreciated on a straight line basis at rates between 5 – 20% over the expected life of the asset. No depreciation is provided on the charity’s freehold land.

----- Start of picture text -----
Tangible fixed assets: at cost brought forward at 1 [st] October 2020 12387.28
additions during year 5521.54
disposals - at cost 0.00 0.00
Depreciation provision thereon 0.00
Surplus or loss on disposals 0.00
17908.82
Depreciation provision b/fwd at 1 [st] Oct 2020 7055.11
Depreciation charge for the year 377.21
Eliminated in disposals 0.00
Depreciation provision c/fwd at 30 [th] Sept 2021 7432.32
Written down value of tangible fixed assets at 30 [th] September 2021 10476.50
There have been no revaluations of fixed assets
----- End of picture text -----

The Association owns a heritage asset; an old ice-breaker located at Measham Museum.

This asset was acquired at no cost to the Association, and its value is historical rather than monetary,

The Association has over several years built up funds towards future costs of restoration of the Ashby Canal northwards from its present navigable terminus, a project which is currently on-going. An Aqueduct Appeal Fund and a Restoration Fund are maintained as designated funds This is to demonstrate the commitment of the Association to the restoration scheme, as reflected by the wishes of the charity’s supporters and donors.

5 Funds brought forward

The balances brought forward on 1[st] October 2020 comprise designated funds for Restoration and Aqueduct

£144,521.27 and unrestricted

Audit Exemption

Signed ……………………………………….. Director and Chairman

Signed ……………………………………….. Director Date……………………………..

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