The Chesterfield Canal Trust Limited
Annual Report
and
Financial Statements
Year Ended 30 September 2021
Company ReglstratSon number
03403203
Charhy Registratlon number
1071376
VAT Registration number
345 0352 26

The Chesterfield Canal Trust Limited
Annual Report
and
Financial Statements
Year Ended 30 September 2021
Contents
Page
Company Information
Report of the DirectDrs
2-10
Independent Examiner's Report
li
Statement of Financial Activities
12
Balance Sheet
13
Notes to the Financial Statements
14-24

THE CHESTERFIELD CANAL TRUST LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30SEPTEMBER 2021
Reference and Admlnistrative Informatlon
Charlty Name..
The Chesterfleld Canal Trust Ltd
Charity Registratlon Number..
1071376
Comp3ny Reglstration Number..
3403203
Registered Office:
Hollingwood Hub
22 Works Road
Hollingwood
chesterfield
543 2PF
Dlrertors and Charlty Trustees
Dr P G Hardy
Mr R D Auton
Mr G Walker
Mrs K Auton
Mrs R Girllng
Mr D Klddv
Mr M I Potter
Mr I P Rowbotham
Mrs S J Stephens
Chair
Secretary
Treasurer (appointed 18.10.20211
MrAJames
Mrswilson
Mr M P Edwards
Ms Lcwatson
Mr R Stonebridge
(Reslgned 23.07.20211
(Resigned 23.07.20211
(Reslgned 09.08.20211
IResigned 21.09.20211
(Reslgned 12.10.20201
Independeni Examiner
Nicolè Adams ACA DChA
BHP LLP, chartered Ac¢ount4nt5
57-59 Saltergate
Chesterfield
S40 IUL
Prlncipal Bankers
Unity Trust plc
Four Briridleyplace
Birmingham
BI 2JB
BHP LLP
Paee I

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
The Directors present their report and financial statements for the year ended 30 September 2021. The Trustees have
adopted the prov151ons of the Statement of Recommended Practice"Atcounting and Reporting by Charities" IFRS 1021
in preparing the annual report and fin3nci315tatements of the charity. The annual report serves the purpose of a
trustees, report and direttors, report under Company law.
The financial statements have been prepared in accordance with the accounting policie5 set out in notes to the
accounts and ¢omply wlth the charity's governing document, the Charities Act 2011 and Accountlng and Reporting by
Charities.. Statement of Recommended Pr3Ctice applicable to charltles preparing their atcounts In accordance with the
Financlal reporting Standard appllcable in the UK and Republic of Ireland publlshed October 2019.
CORONAVIRUS AND THE CHESTERFIELD CANAL TRUST
Like every other organisatlon the Trust has been affected by the ramifltations of the Coronavirus pandemic.
Our trlp boats ceased taking passengers in September 2020 and only started family trips in May 2021 and
resumed normal worklng in July 2021.
Our shop and information centre also stopped trading (for 129 days) but reL)pened in May 2021.
Our work party ceased activity but resumed work safely in June 2021.
We cancelled our Festival at Staveley.
Our Promotional Traller was unable to attend the planned shows and events.
Our Development Manager was able to work from home and resumed Dffice worklng In June 2021.
Regular, shorter, and more frequent meetlngs of the Trustees and sub-committees continued through the
year L¢sing video conferencing facilities.
OLfr AGM was held virtually in March with over 60 people viewing it live. A recodin6 of" the meeting was also
published on our website and 'You Tube, with over 120 view5 to date. This action was IrF accordance with the
Governments 'Coronavirus ICOVID-191 guidance for the charity sector,.
A Dlscretlonèry Grant from Chesterfield Borough Council of £19,471 mitigated some of the lost Income.
BHP LLP
Page2

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
STRUCTURE GOVERNANCE AND MANAGEMENT
Govemlng Document
The organisation is a charitable company limited by guarantee, incorporated on 14 July 1997, and registered
as a charity on 7 September 1998. The company was establlshed under a Memorandum of A55ocSatlon which
establisheLI the objettlves and powers of the charitable company and is governed under its Articles of
A550ciation. In the event of the company being wound up members are requlred to contrlbute an amount per
member not exceedlng £1.
Dlrectors and Trustees
The Directors of the Company are also charlty Trustees for the purpose of charity law and are elerted after
the Annual General Meeting IAGMI.
Constitutionally one third of the Trustees stand down each year and 5h311 be eligible for re-election Bt the next
Annual General Meeting. The Trustees to retire shall be the longest in olfice slnce the last election. New
Trustees may be nominated by the members and if there are more nominations than positions then an
election by members present is held at the AGM.
In 2021, because we were unable to re-elect retiring Trustees In 2020 it meant that all the current TTUStees
had to offer themselves for re-election thls year. This was duly done at the AGM, and all were re-elected.
Dlrectors Inductlon and Tralnlng
The Directors try to ensure that Directors appointed have the necessary skills to further the Trust's oblectlves.
The Directors are regularly informed of tralnlng and development opportunities which arise that could be of
benefit to the Trust. The Directors are aware of the pollcies and procedures that cover the day-to-day work of
the Trust.
Organlsatlonal Structure
The TrL¢St Board Is responslble for the ultimate management and direction of the Trust. The Trust Board
concentrates on strategic decision making.
The Trust has 5 sub-committees led by a Chair who Is also a Trustee. The sub-commlttee5 report to the Trust
Board. The sub-committees are: Restoration, Boats, Publicity and Promotion, Hollingwood Hub & Retail and
Membership Engagement.
The restoration 5ub-Eommittee ha5 a150 formed a committee lo oversee the production of a Business Plan to
onvert the offer from the St3veley Towns Fund into a firm grantlsee latefl.
The sub-committees have some autonomy allowing decSslon5 wlthout reference to the Trust Board if declsions
are in line with Trust objectives and do not exceed approved budget limits. The sub-committees meet regularlv
and report back to the main Trustee Meetings which are held every 4-6 weeks.
BHP LL
Page 3

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
STRUCTURE GOVERNANCE AND MANAGEMENT
contlnued
The Trust has one employee IDevelopment Manager) and about 200 volunteers.
The Trust also has strong partnershlp links with many organlsations, most notably wlth Derbyshire County
Council, Chesterfield Borough Council, the Canal and River Trust and the Inland Waterways Association. We
value and thank these organlsations for their help and co-operation.
As the restoration moves into other areas. we look forward to working more clos@ly with North East Derbyshire
District Council, Rotherham Metropolltan Borough Council, Bassetlaw District Councll and Nottinghamshire
County Council to achieve full restoration. These authorities are represented by the Chesterfield Canol
Partnership. A review of the composition and remit of this partnership 15 currently belng undertaken.
aHP LLP
Page 4

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
OBJECTIVES AND ACTIVITIES
The Trusts objettlvès ènd printipal actlvitle5 are:
To promote the restoratlon to good navigable order of as much as considered possible of The Chesterfield
Canal Ind to maintain and improve the Waterway for the use and benefit of the public,
To promote the constructlon of the 'Rother Link..
To promote the fullest use of the Waterway for the benefit of the public.
To promote, and educate the public, In the historyi use of and assOC13ted wildlife of the waterwav.
Publlc Beneflt
When plannlnB activities for the year, the Directors have considered the Charity Commission guidance on public
benefit.
Planning Pemiission
In April this year we received approval of our planning application to restore the remaining derelict
canal wlthin Chesterfleld Borough Council.
Staveley Basln and Hartlngton Harbour
Covid re5trictlons prevented the Trust from fln15hing the minor works around Staveley Basln untll th15
Summer. Thi5 section is now in permanent water,
Storage unit
The trust has purchased a large storage unit to be placed behind our base at Hollingwood. This Is to
be used to store canoes and paddleboards to enable members of the public to hire and sail them on
the canal, thu5 attracting more visitors to the canal.
Walking festival
In spite of the challenge5 of Covid we held our 3 Walking Festival In September 2021 and over 400
people took part.
Green Flag
The Trust has been awarded a Green flag for Hollingwood Hub again, in recognition of the work OLFr
volunteers undertake to make the area ever more attractive.
Green Team
During the year the Trust has organised monthly volunteer clear-up session5 at Renishaw, including
several locBI residents, to maintain the area around the site of the can31 Ito be restored). We hope to
contlnue developing this team to assist with the management of the canal following its restoration.
Our alm is to give local residents 50rne sense of ownership of their local canal. Thls has been proved
to be successful and popular in regions where the canal is owned by the Canal and River Trust.
The group is also looking at future projects such as introducing hydroelectricity generation, wind
pump5, incrEased biDdiverslty. electrifying our boats & plant and estab115hinE our carbpn footprint.
eHP tLP
Page S

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
OBIECTSVES AND ACTIVITIES
contlnuedl
Volunteerin8
The Chesteifleld Canal Trust is dependent on Its many Volunteers to whom it is greatly Indebted. Thelr
enthuslasm, dedication and hard work make our organisation the envy of so many others.
Volunteer hotsrs
Our 200 volunteers contributed nearly 19,000 hour5 towards the restoration of the canal and the
Trust's other activities thls year. This is a remarkable 3chlevement when conslderlng the reduced
activity caused by the Coronavirus ovtbre2k124,263 hours 20201.
These hours can be grouped as follow..
Promoting, improvlng, and protecting the taf)al
Restoring and maintaining the canal
Member support and adminlstration
8,171
7,818
3,009
ACHIEVEMENTSAND PERFORMANCE
Charltable Activities
Development Manager.
We continue to employ a manager to plan the futLsre restoration of the canal. He works with local authorities.
statutory agencies and experts and is assisted by several volunteers both at an office level and at expert level.
We have at tlmes pald for expert help to asslst him.
The Trust recoEllises the hard work of our volunteers and provides, free of charge, Flrst Ald Tralning to all the
volunteers and for those on boatsthe abillty to achieve the Royal Yachting A5sociatlon or National Community
Boat's Association Helmsman's Certificate.
ThÈ Trust continues to update and publish an Bnnual vlsitor guide of which 15,000 copies were distributed
free of charge during the year. Thls is 3 reduction from the previous year because many of the usual outlets
were closed for a proport1on of the year. It also publlshes other books and leaflets lo promote the restoration
Df the canal and the use of the waterwav.
Publicatirjns and the Media
The trust produces a quarterly magazlne to Inform our members, loc81 bu51nesses and F)oliticians of Dur
activities. This is always welcomed, and we recelve many positive comments about the article5 published.
We have greatly expanded our use of soclal media which has resulted in many more people being aware of
our alms and has increased the number of people booking our trip boats.
We have appeared on local television and several radio stations.
#HP LLP
PagÈ 6

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
ACHIEVEMENTS AND PERFORMANCE
Continued
In December 2020 the Staveley Town Board allocated the Chesterfield Canal Trust £5.68m to restore the
canal from Staveley to the boundary of the Chesterfield Borough, a distance of 2.6km, in its initlal bSd. To
convert this offer to a grant the Trust's Development Manager has, with expert helpj been producing a
Business Plan to be submitted in December 2021.
To achieve a robust plan the Trust has committed up to £IOO,000 to help mitigate any risks assoclated wlth
this restoration.
Fundralslng
The Trust's four Trip boats remain an extremely popular means of promoting the canal and over the year
volunteers spent over 1,500 hours taking 1,707 members of the public, many of whom had never seen the
canal before, onto the canal for celebrations and trip5. Our popular trips with Santa had to be cancelled this
vear because of the Coronavirus restrictions imposed nationally.
The shop and informatlon centre at Hollingwood, with its associated coffee Shop, continues to contribute to
the funds of the charity.
The Barnsley Dearne and Dove Canals Trust have donated £20,162 to the Trust following their closure.
Gift, legacies and donations also continue to help us achleve our ambition of restoring the Chesterfleld Canal.
Membership
During the year membership of the Trust increased from 2,012 to 2,12813 6% increase), thus providing a
reliable source of income.
Membership
2500
2000
15DO
500
o o o o o o
o o o o o
Yèar
BHP LLP
Pa8e 7

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
FINANCIAL REVIEW
Income for the year has declined by £173,150 on 2020. Total income for the year is £226,690 compared with
É399,840 in 2020. Many income stream5 durSng 202012021 have suffered because of the consequence of lost
trading activlty during the CorDnavirLTrS pandemic. The loss of income has, to some extent been offset by
property rental income of £16k, additional Erant receipts of £25k, additional Membership income of £lk.
Expendlture of £175,709 has been maintalned at a similar level as 20201£172,2761. The activlty of the work
party has been curtailed during the national lockdown resulting in limited expendlture in support of this.
Addition31 expenditurel£20kl has been Incurred In support of the development of the business case required
to support the seturing of the Staveley Towns Fund project. The net increase In funds before revaluatlon galns
was £50,98112020', £227,564).
The boats weTe revalued in 2021. A revaluatlDn re5erye of £180.174 has been created as a consequence of the
increase in value of the boats.
The Trust had funds carried forward at 30 September 2021 of £1,024,70612020: £793,551) of which £121,299
12020: E121,2291 are restricted funds and £903.40712020'. £672,322) are unrestricted funds.
REserves Pollcy
At the Trust Board meeting in january 2020 the Trustees approved a Reserves Policy whlch calculated a low
reserve value of £71,OOD and a hlgh reserve value of £500,000. Current free reserves held are £337,974.
Reserve levels wlll be monitored to ensure they remain adequate to cover antlclpated luture requirements.
The pollcy wlll be revlewed annually to ensure it Is fit for purpose.
Investment Policy
The Trust is buildlng its cash reserves in line with the Reserves Policy. In vlew of this the Trustees have agreed
to share cash reserves around financial institutions operating within the Financial Conduct Authority's remit
and to restrict Snvestment levels to the financial limits in operatlon from tlme to time.
8HP LLP
Pa8e S

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30SEPTEMBER 2021
FUTURE PLANS
Our overall aim is to complete the restoration of The Chesterfield Canal by 2027- the 25ty anniversary of it5
opening.
We will continue to engage or employ expert help. to help OLFr Development Manager succeed In 8rant
applicetions.
Renishaw- The Trust has received approval. in principle, to Start the 2-year project to restore the Renlshaw
section of canal Ilkml. We are grateful for the support the local councillors and MP'S have given the Trust to
enable this to happen.
Ooe Lea Valley - Following the Governments response to the Staveley Towns Fund initial bld, the Trust has
been offered £5.3m from the Staveley Town's Fund. The Trust has spent 6 months thls year developing the
Buslness case for thls restoratlon prDject13kml. We have employed several consultants and solicltors to help
produce the document. The draft plan was submitted in October 2021. The final plan was submltted at the
end of 2021 with a decision expected in March 2022.
MAJOR RISKS
Coronavlrus
At the time of wrlting this report it is Ltncertain how the pandemic will affect the Trust both In term5 of income
generation and thè ability to work safely on the restoration. Although the country is working normally It is
P055ible a5 the winter approaches that restrictions may occur again.
Other Risks
Rlsk
Percelved negligence by the Trust or volunteers.
Mftlgatlon
Public liability insurance. TraSning of
volunteers.
Accidents to Visltors, volunteers, and the public.
Risk assessment for all major activities.
Health and safety policy for all volunteers.
Monthly review of any Incldentslaccldents.
Fallure of income streams.
Careful flnancial management and
malntenance of a reserve fund.
BHP LLP
Pagpg

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
TRUSTEES RESPONSIBILITIES STATEMENT
The trustees Iwho are also directors of The chesterfield Canal Trust for the purposes of company lawl are
responsible for preparing the Trustees, Annual Report and the financlal statements in accordance with applicable
law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare flnanclal statements for each financial year. Under company law the
trustees mv5t not approve the financial statements unless they are satlsfied that they give a true and fair view of the
state of affairs of the charltable company and of the incoming resources and application of resources, including the
income and expenditure, of the charitable company for that period. In preparlng these financial statements, the
trustees are requlred to:
select suitable accounting policies and then apply them conslstentlv,.
observe the methods and printiples in the Charlties SORP 2019 IFRS 1021;
make judgements and estimates that are reasonable and prudent;
state whether appllcable UK Accounting Standards have been followed, Sub￿eCt to any material departures
disclosed and explained in the financial statements.
prepare the financial Statements on the going concern basis unless it is Inappropriate to presume that the
charitable company will continue in operation.
The trustees are responsible for keeplng adequate accountlng records that disclose wlth reasonable accuracy at any
time the flnanclal posltion of the charitable company and enable them to ensure that the financial statements
comply with the Companies Art 2006. They are also responsible for safeguarding the assets of the charitable
company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularlties.
APPROVAL
Approve
y the Board on Of . o 3. ZtsL£ and slgned on their behalf by..
Dr P G Hardy
Chalr
BHP LLP
Page 10

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHESTERFIELD CANAL TRUST LIMITED
I report to the charity Trustees on my examlnation of the accounts of the charlty for the year ended 30 September
2021 which 8re set out on pages 12 to 24,
Re5ponslbilities and basls ot report
As the charity trustees of the company land also its directors for the purposes of company lawl you are responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act'l.
Haviftg satisfled myself that the accounts of the company are not required tL> be audlted under Part 16 of the 2006
Act and are eligible for indepèndent examination, I report in respect of my examination of your company's accDuntS
as carrled out under section 145 of the Charities Act 20111'thp 2011 Act'l. In carrying out my examination I have
followed the Directions glven by the charlty Commission under section 14515llbl of the 2011 Act.
Independent examlner's ststement
Since the company's gros5 income exceeded £250,000 your examiner must be a member of a body listed Sn s@ctlon
145 of the 2011 Act. I confirm that l am quallfied to undertake the examlnation because l am a member of the
ICAEW, which is one of the listed bodies.
I have completed my examination. I conflrm that no matters have come to my attentlon In connectlon with the
examination givlng me cause to believe that in any material respett..
accounting records were not kept In respect of the company as requlred by Section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any
requirement that the accounts give a 'true and fair view, which is not 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 Piactice for accounting and reporting by charitles applicable to charltlos preparing thelr
2ccounts in accordance wlth the Flnanclal Reportlng Standard appllcable in the UK and Republic of Ireland IFRS
1021.
I have no concerns and have come acros5 no other matters in connection with the examlnation to whlch attentlon
should be drawn In thi5 report in order to enable a proper understanding of the accounts to be reached.
Nlcola Adams ACA DChA
BHP LLP, Chartered Aciountants
57-59 Saltergate
Chesterfield
S40 IUL
Date.. 8 March 2022
BHP LLP
Pège 11

THE CHESTERFIELD CANAL TRUST LIMITED
STATEMENT OF FINANCIALACTIVITIES
IINCQRPORATING AN INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Noles
Unrestrlcted Restrlcted
Funds
Funds
Total
2021
Total
2020
Income from:
Donations and legacies
Grants
Donatlons
Legacies
Membershlp Fees
Gift Ald
32,839
66,583
3.258
21,813
9,450
500
8,833
33,339
75,416
3,258
21,813
11,948
8,250
177,826
48,781
20,802
12.182
2,498
Other tradin8 actlvltles
Advertising & Sponsorship
Concerts l Events l Talks
Fundralsing
Sales
Property Rental
225
1,200
1.425
408
250
14,262
16,200
250
920
250
14,262
16,200
585
11,046
8,100
Sundry Income
131
12,706
12,706
80,206
Investment Income
653
653
2,045
Chiritable activitles
Proflt on Sale of Asset
Trip Boat Income
Hollingwood Hub
1,583
26,384
7,045
1,583
26,384
7,045
21,177
7.670
Total income
213,659
13,031
226,690
399,840
Expendlture on:
Charitable Activitles
Cost of Generating Funds
Total expendlture
141
151
159,616
3,132
162,748
12.961
172,577
3,132
175,709
165.503
6,773
172,276
12,961
Net Incomel {expendlturel
before other re¢o¥nlsed galns
50,911
70
50,981
227,564
Galns on revaluatSon of flxed assets
Iiii
180,174
180,174
Net Movement In Funds
231,085
70
231,155
227,564
Total Funds brought forward
at l October 2020
672,322
121,229
793,551
565,987
Fund Balances earrled forward
at 30 September 2021
903,407
121,299
1,024,706
793.551
There are no recognised gains or losses in the year other than the SLtrplus for the year identified above as net Income.
All activities relate to continuing operations.
tsHP LLP
Page L2

THE CHESTERFIELD CANAL TRUST LIMITED
8ALANCE SHEET
AS A T30 SEPTEMBER 2021
Not&5
2021
2020
Flxed Assets
Tanglble Assets
161
646,616
500,122
Current Assets
Cash at Bank
Cash In Hand
Debtors & Prepayments
stock
404,705
2,510
22,541
4.791
434,547
327,883
1,632
23,005
4.817
357,337
Creditors: Amount falllng due
wiihln one year
26,457
23,908
Net Current Assets
408,090
333,429
Credltors,, Amount falllng due after one
year
30,000
40,000
Net Assets
1131
1,024,706
793,551
Accumulated Funds
Revaluatlon ReseThe
Iiii
177,171
Unrestricted funds
Restrlcted funds
1121
1121
726,236
121,299
1,024.706
672.322
121,229
793,551
For the year ènded 30 September 2021 the company was entitled to exemption from audit under section 477 of the
Companies Act 20L16 relatinE to small companies.
Directors. responsibilities:
The members have not required the company to obtain an audit of its accounts for the year In questlon in
accordance with sectlon 476.
The dlrectors acknowledge their responsibilities for complying wlth the requlrements of the Act with respect to
accounting records and the preparation of accounts.
The fin
cial statements were approved by the Board on 08 . 0 3 . 20 IL and signed on their behalf by
Dr P G Hardy
Chair
Company reglstratlon number: 03403203
r G Walker
Treasurer
8HP LLP
Page 13

THE CHESTERFIELD CANAL TRUST LIMITED
NOTESTO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Accountlng pollcles
lal charlty Informatlon
The Chesterfield Canal Trust Limited is a charitable company limited by guarantee incorporated In England
and Wales. The registered office is Hollingwood Hub, 22 Works Road, Hollin8wood, Chesterfield, $43 2PF.
Ib) Basls of preparatlon
The financial statements have been prepared under the hlstorical cost conventlon wlth Items recogri5ed
at cost or transactlon value unless otherwise stated in the relevant notes to these accounts. The financial
statements have been prepared in accordance with the Statement of Ilecommended Practice.. Accounting
and Reporting by Charities preparing thelr accounts in accordance with the Financl31 Reportlng Standard
applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and Financial Reporting
Stat7dard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Charitles Act 2011.
The charlty constltutes a publlc benefit entity as defined by FRS 102.
The flnanclal statements are prepared on an going concern basis under the historical cost convention.
The financial statements are presented in sterllng whlch Is the functional currenty of the charity and
rounded to the nearest £.
Ic) Fund accountlng
Unrestricted funds are available for the use at the discretlon of the trustees In furtherance of the
general objectives of the charitv.
Restrlcted funds are subjected to re5trittions on their expenditure imposed by the donor or through
the terms of appeal.
BHPLLP
Page 14

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Accountlng pollcles- contlnued
Idl Income
All income is included in the Statement of Financial Activitie5 when the charity is entitled to the Income,
the receipt is probable, and the amount can be quantlfled wlth reasonable accuracy. The following specific
pollcles are applied to partlcular categorles of Income..
Income recelved by the way of grant5, donatlons and gift5 and Is Included in full in the Statement of
Financial Activities when receivable.
Donated services and facilities are included at the value to the Charity where this can be quantified.
The value of services provided by volunteers has not been included in these accounts.
Investment Income Is included when receivable.
Income from charltable tradlng actlvlty Is accounted for when earned.
Intome from grants, where related to performante and 5peclflc dellverables, are accounted for as the
charlty earns the rSght to conslder3tlon by its performance. Grants, where entitlement Is not
conditional on the delivery of a specific performance by the charityi are recognised when the charitv
becomes unconditionBlly entitled to the grant.
Income from life membership subscriptions are included in the year of receipt.
(e) Expendlture
Expenditure Is recognI5ed on an accrual basls as a Ilablllty Is incurred. The Trust voluntarily registered
for VAT in March 2020 therefore expenditure excludes all VAT which can be fully recovered, any
irrecoverable VAT Is reported as a part of the expendlture to whlch it relates:
Costs of raising funds comprise the costs associated with attracting voluntary income and the CDSts
of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for beneficiarles. It includes hoth costs that can be allocated directly to such activitles
and those costs of an indirect nature necessary to support them.
Governance cost5 Include those costs assoclated wlth meeting the constitutional and statutory
requirements of the charity and include the independent accountant's fees arbd any costs linked to
the strateBiC management of the charity.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on
a basis de51gned to reflect the use of the resource. Costs relating to a particular activity are allocated
directlv.
BHP LLP
Page IS

THE CHESTERFIELD CANAL TRUST LIMITED
NOTESTO THE FINANCIALSTATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 305EPTEM8ER 2021
Accountlng policies- contlnued
If) Tanglble flxed assets and depreclatlon
Fixed assets purchased with a value of le￿ than £l,DOO are written off in full in the year of purchase.
Depreciation is provided on all tangible flxed assets at rates calculated to wrlte off the cost/ valuation on
a straight-line basi5 ove¥ their expected useful economic lives as follows:_
Trip Boats
Motor Vehlcle5
Plant and Equipment
CompLJter Equipment
Office Equipment
Furniture
Commercial Property
Residentlal Property
Residentlal Property Fixtures & Fittings 20%
Where assets are under construrtion no depreciation is provided until completion.
25%
25%120%116.67%114% 1 IIYA
33.3%
25%
25%
io%
IE) Re¥aluatlon of flxed assels
The boats have been revalued by Monarch Marine Ltd based upon Inspectlons carried out in
2021. The valuation5 were iarried gut under the Yacht Designers and Surveyors Assnciation current
standard terms and conditions. The increase in value has been transferred to the Revaluatlon Reserve
3nd will be released to the income and expendlture account over the revlsed life of the boats. The
estlmated Ilfe of the boats is estimated to be 20 years.
Ihl Stock
Stock is included at the lower of cost and net reallsable value.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably
by the Charlty,, thls is normally upon notlfication of the interest pa1d or payable by the bank.
11) Debtors
Trade and other debtors are recognised at the settlement amount after any trade dlscount offered.
Prepayments are valued at the amount repaid net of any trade discounts due.
Ikl Cash at bank and In hand
Cash at the bank and in hand includes cash short term highly liquid investments with a short maturity of
three months or less from the date of 3cqu151tlon or openlng of the deposit or slmilar account.
Credltors and provlslons
Credltors and provisions are recognised where the charlty has a present obligation resulting from a past
event that will probably result In the transfer of funds to a thlrd party and the amDunt due to settle the
obligation can be measured or estimated reliably. Creditor5 and provisions are normally recognised at
their settlement amotjnt after allowing for any trade discounts due.
BHP up
Pa8e IS

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 5EPTEM8ER 2021
l. Accountlng pollcies- contlnued
IMI Flnanclal Instruments
The charity only has flnancial assets and flnanclal liabilitles of a kind that qualify as basic financial
instruments. 8aslc financial Instrument is initially recognised at transattion value and Subsequently
measured at their Settlement value.
In) Cr5tlcal accountlng estlmates and areas ot ludgment
E5tlmates and Judgments are corbtlnually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
clrcumstances.
Critical accounting estim?te5 and assumption5:
The charity makes estimates and assumptlons concerning the future. The resulting acco¢Jnting estimates
and assumptions wlll, by deflnition, seldom equal the related actual results, There are no estlmates and
assumptions that have a sSgnificant risk of causing a material adlustment to the carrying amounts of assets
and Ilabilities Wlthin the next financial year.
lo) Employee beneflts
When employees have rendered services to the charity. short-term employee benefits to whlch
the employees are entitled are recognised at the undiscounted amount expected to be paid In
exchange for the servlce.
Ipl Penslon costs
The charity contributes to a defined contribution pension scheme and the pension charge
represents the amount payable to the scheme in respect of the year.
{ql Land and Bullding Revaluatlon
Land and buildings acquired for the purpose of canal restoratlon wlll be professionally revalued
every 3 years,
BHP LLP
P38e 17

THE CHESTERFIELD CANAL TRUST LIMITED
NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30SEPTEMBFR 2021
Prlor Year Statement of Financial Activitles
Unrestricted
Funds
Restrlcted
Funds
Total
2020
Income from:
Donations and legacie5
Grants
Donations
Legacies
Membershlp Fees
Gift Aid
8,250
166,900
8,250
177,825
48,781
20,802
12,182
10,926
2L7,802
11,498
684
Other tradlng activltles
Advertising & 5ponsDrship
Concert51 Events J Talks
Fund Raising
Sales
Sundry Income
250
920
585
11,046
80,2
250
920
585
11,Q46
80,206
Investment Income
2,045
2,045
Charltable actlvltle5
Profit on Sale of Asset
Trlp 8oat Income
Hollii)8wood Hub
Property Rental
Totsl
21,177
7.670
8,100
388,230
21,177
7,670
8,100
399,840
11,610
Expendlture on:
Charitable Activities
Cost of Generating Funds
131,931
6,234
33,572
539
165,503
6,773
Total
138,165
34,111
172,276
Net income/ lempendlturel before transfers
250,065
122,SOII
227,564
Transfers
Nel Movement in Funds
250,065
122,5011
227,564
Total Funds brought forward at l Ottober 2019
422,257
143,730
565,987
Fund Balances at ao September 2020
672,322
121,229
793,551
BHP LLP
Page 18

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Sundry Income
Other sundry income relates to income from Derbyshire County Council recovered through the partnership
agreement, Feed in Tariff rebate and tr3inlnE income
Charltable Actlvltles
Unrestrlcted
Funds
Re5trlcted
Funds
Total
2021
Total
2020
Advertising and Publicitv
Alarm Maintenance & Monitoring
8ank / Paypal Charges
Caterifig
Cleaning
Contracting Services
Depreciatlon
Electricity, Gas & Water
Flxtures and fSttlngs
Fuel & Oil
Governance
Health and Safety
Insurance
Interest Paid
Legal & Professional Fees
Licences
Loss on Sale of Assets
M3teria15
MiscellaneDUS Expenses
Moorlng Fees
Plant & Transport Hire
Postage
Publicity Materlal & Slgnage
Rent & Rates
Refurbishment Costs
Repairs & Renewa15
Santa Expense5 (Trlp Boats)
Security Services
Surveys / Inspections / Planning Fees
Telephone
Tools and Equipment
Training
Travelling Expenses
Trip Boat Booking Admln Contribution
Waste Removal
Waterways Officer ContribLrtion
Webslte I Computer / Software
Wages/Salaries (note 161
270
545
1,701
417
183
20,811
23,325
3,071
213
3,581
1,090
3,266
8,557
690
1,800
1,175
270
546
1,701
417
183
20,811
34,463
3,071
213
3,581
1.090
3.266
8,557
690
1.8aO
1,175
100
730
1,429
161
2,006
27.648
2,629
41
3,990
890
727
5,337
630
1,142
1,091
1,021
3.953
2,443
3,974
11,138
10,473
1,936
3,995
492
3,926
5,390
4,942
10,473
1,936
3,995
492
3,926
6,775
4,942
4,191
6,828
4,881
1,172
3,370
1,509
1,385
9,890
438
10,328
710
2,094
466
682
1,053
24
710
2,094
466
682
1,053
24
34,989
537
931
2,260
419
2,082
922
945
945
4,000
1,233
36.237
165,503
4,791
37,111
159,616
4.791
37,111
172,577
12,961
OHP LLP
Pèse 19

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Ralslng funds
Un-Restricted
Funds
Restrlcted
Funds
Total
2021
Total
2020
Charitable Actlvltles
Cost of Sales
3,132
3,132
6,773
3,132
3,132
6,773
Tattglble Ilxed assets
Boats
Dawn Rose
Motor
Vehlcles
Plant and Property
Equlpment
Total
Cost or valuation
At l October 2020
Additions
Revaluation June 2021
Disposals
At 30 September 2021
194,076
17,003
7,205
96,429
336,442
2,200
651,155
2,200
91,421
15,4001
739,376
68,424
22,997
15,4001
91,029
262,500
40,000
7,205
338,642
Oepreclatlon
At l October 2020
Revaluation Adj - Prior Year
Revaluation Adj- To May 21
65,281
165,281}
16,4691
17,003
117,003
450
60.456
7,843
151,033
182,2841
16,4691
Charge for year
Disp05als
At 30 September 2021
10,843
667
1,801
10,199
13,9831
66,672
10,953
34,463
3,9831
92,760
4,374
667
2,251
18.796
Net book value at 30
September2021
258,126
39,3Y3
4,954
24,357
319,846
646,616
Nèt book value at 30
september 2020
128,795
6.755
35,973
328.599
500,122
Dawn Rose- New Bulld Wooden Worklng Boat:
Th15 is Included In flxed asset5 to reflect the capftalisation of the construction costs of the boat
Revaluatlon of the Boats and Dawn Rose
The Boats were revalued in lune 2021. The valuation was undertaken by Monarch Marine Ltd. The1ncreased
asset values and depreclatlon to the date of the valuation ha5 been taken to the Revaluatlon reserve and will be
released to the income and expenditure account over the remaining estimated lifè of the boats120 years). The
hi5torlcal cost of the boats Is £194,076 and £17,OD3.
HP LLP
Pa&& 20

THE CHESTERFIELD CANAL TrUST LIMITED
NOTES TOTHÉ FINANCIAL STATEMENTS ICONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2021
Debtors
2021
2020
Tradè Debtors
Other debtors and prepayments
2,175
20,366
22,541
76
22,929
23,005
Credltors: amounts falllng due wlthln one year
2021
2020
Trade credltors
Loan
Income deferred due to cancellation of
events in 2020
Other creditors and accruals
14,881
10,000
10,000
2,048
11.860
23.908
1,576
26,457
Credltors: amounts *allin¥ due after one year
2021
2020
Charge attached to property 51tuated at 243
Sheffield Road
30,000
40,000
10. Taxatlon
The charitable company is consldered to pass the tests set Dut In Paragraph I Schedule 6 of the Finance Act
2010 and therefore it meets the delinition of a charitable company for UK corporation tax purpose5.
AccordSngly, the charltable company is potentlally exempt from taxation in respect of income or capltal
gains received within categories covered by chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxatlon of Chargeable Gains AeÈ 1992, to t.he extent that. such Ineome or. galns are applled
exclusively to charitable purposes.
11. Revaluatlon Reserve
2021
2020
Opening Balance
Revaluation uplift in year
Applied In year
Balance carried forward
180,174
13,003)
177,171
BHP LLP
Pagp 2J

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TOTHE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2021
11 Funds
Current Year
Balante
01.10.20
Income Empendlture
Transfer
Between
Funds
Balanco
30.09.21
Unrestrlcted
General
672,322 213,659
159,745
726,236
Restyicted
Hugh Henshall Trip Boat
Friends of Dawn Rose
Python Historic Boèt Refurbishment
John Varley Trlp Boat 1st Stage Payment
Work Party Equipment
Place in History Re5toralion Fund 2017
Last Cuckoo Project
Walking Festival
2027 Appeal
Barn51ey, Dearne & Dove Canal- Entrust Fund
37,310
438
17,073
16,331
21,609
22,855
3,532
2,873
438
1,130
1,043
6,092
34,437
15,943
15,288
15,517
22,975
3,532
1,721
9,805
2,081
121,299
120
3.011
9.9DO
1,290
95
2,081
121,229
13,031
IZ,961
Total Funds
793,$51 226,690
172,706
847,535
Prlor Year
Balance
01.10.19
Income Expendlture
Transfer
Between
Funds
Balance
30.09.20
Unre5trlcted
General
422,257 388,230
138.165
672,322
Restrlrted
Hugh Henshall Trip Boat
Walking Festlval
Friends of Dawn Rose
Python Historic Boat Refurbishment
John Varley Trip B03t 1st Stage Payment
Work Party Equlpment
Place In History Restoration Fund 2017
Last Cuckoo Project
Work Party Materials
2027 Appeal
Barnsleyi Dearne & Dove Canal- Entrust Fund
40,240
2,930
37,310
49
149)
976
538
1,130
1,043
6,537
10,503
438
17,073
16,331
21,609
22,855
3,532
18.203
17.374
28,146
33,083
3,532
789
1,387
275
838
10,592
49
9,205
2,081
11,610
2,081
121.229
143,730
34,111
Total Funds
565,987 399,840
172,276
793,551
BHP LLP
Pase 22

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2021
The purpose of the restricted funds are as follow5..
Hu
h Henshall Tri
Boat
A project to build an accessible trip boat supported by the Big Lottery
Fund.
Walkin
Festival
An annual event started in 2018 but cancelled in 2020 because of
Coronaviru5.
Friends Df Dawn Rose
Refurbishment of wooden worklng boat of a type that used to carry
cargoes on the Chesterfield Canal.
P thon Historic Boat Refurbishment
Historic l)oat used to promote the Chesterfield Canal at various
IDcal and national events and to assist with volunteer maintenance
work on the Chesterfield Canal.
John Varle
Tri
Boat
Replacement of old trip boat with a new boat.
W rkPart E ul
ment
Purchase of equlpment for use in restoring the
Chesterfield Canal.
Place in Histo
Restoration Fund 2017
Fund to support restoration of the Che5terfleld Canal.
Last Cuckoo Pro
ect
Archaeological dig at Bellhouse Basin on the Cheslerfield Canal.
Work Part Materials
Fund to help with the purchase of materials for the Trust Volunteer
Work Party.
2027
Fund to complete the Canal's Restoration.
Barnsle
Dearne & Dove Canal- Entrust
Specified fund5 received by the Trust on the dis501utlon of a Canal
Trust the spending of whlch must l)e approved by Entrust.
BHP LLP
PagE 23

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2021
13. Analy515 of net assets between funds
Unrestrlcted
Funds
Restylcted
Funds
Total
Tangible fixed assets
Current Assets
Current LiabS1itles
Lon8 Term Liabilities
565,431
394,433
126,4571
130,0001
903,407
81,185
40,114
646,616
434,547
126,4571
130,0001
1,024,706
121,299
Prior Year
Unrpstricted
Funds
Restrleted
Funds
Total
Tangible fixed assets
Current Assets
Current Liabilities
Long Term Liabilitie5
407,798
328,432
123,9081
140,0001
672,322
92,324
28,905
SOO,122
357,337
123,9081
140,0001
793,551
121,229
14. Capltal commltments
Capit31 commitments authorised but not contracted at 30 September 2021 totalled Nil12020: £nill.
IS. Transactl¢ns with trustees and related party transa¢tlons
No trustees received any remuneration the year. Their travelllng and other expense5 are reimbursed In
respect of expenses incurred on the charity'5 buslness. In the year ended 30 September 2021 there were no
such payment5 pald to Trustees12020.. £nill.
During the year trustee5 donated £31,719 to the ¢harlty12020.' £15,039).
During the period to 23 July 2021, the charity made purchases from Renditions Graphics Ltd totalling £3,792.
Rendition Graphics Ltd Ss a company under the control of a trustee and a former trustee, Mr A James Icurrentl
& Mrs J E Jame5 Iformerl. Mr A James resigned as a trustee with effert from 23 July 2021.
16. Staff Costs
2021
2020
Wage5 and Salaries
SDcial Securlty Costs
Employer's pension costs
35,013
35,079
2,098
37,111
1,158
36,237
The average number of persons employed by the Trust during the year was 112020.. 11
No employee received remuneration amounting to more than £60,000 in either year.
8HP LLP
P38e 24