The Chesterfield Canal Trust Limited
Annual Report
and
Financial Statements
Year Ended 30 September 2024
Company Reglstration number
Charity Regi5tratlon number
03403203
1071376

The Chesterfield Canal Trust Limited
Annual Report
and
Financial Statements
Year Ended 30 September 2024
Contents
Page
Company Information
Report of the Trustees
Auditor's Report
10-12
Statement of Financial Activlties
13
Balance sheet
14
Cashflow Statement
15
Notes to the Financlal Ststements
16-26

THE CHESTERFIELD CANAL TRUST LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Reference and Administrative Information
Charity Name:
The Chesterfield Canal Trust Ltd
Charity Registration Number:
Company Registration Number:
1071376
3403203
Vat Reglstration Number:
345 0352 26
Registered Office:
Hollingwood Hub
22 Works Road
Hollingwood
Chesterfield
S43 2PF
Directors and Charity Trustees
Dr P G Hardy
Mr R D Auton
Mr G Twalker
Mr M I Potter
Mrs K Auton
Ms G K Gregory
Mrs R Girling
Mr I P Rowbotham
Mrs S J Stephens
Chair
Secretary
Treasurer
Vice Chair
(Appointed 14.03.2024)
Auditors
SMH Sutton McGrath Hartley
5 Westbrook Court
Sharrow Vale Road
Sheffield
Sll 8YZ
Princlpal Bankers
Unity Trust plc
Four Brindley Place
Birmingham
BI 2JB
SMH
Pa8e I

THE CHESTERFIELD CANAL TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Directors present their report and financial statements for the year ended 30 September 2024. TheTrustees have
adopted the provisions of the Statement of Recommended Prattice "Accounting and Reporting by Charities" {FRS 1021
in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the
accounts and comply with the charit¢s governing document, the Charities Act 2011 and Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Stsndard applicable in the UK and Republic of Ireland published Ortober 2019.
STRucfuRE GOVERNANCE AND MANAGEMENT
Governing Document
The organi5ation is a charitable company limlted by guarantee, incorporated on 14th July 1997, and registered
as a charity on 7 September 1998. The company was established under a Memorandum of Association which
established the objectives and powers of the charitable company and is governed under its Articles of
Association. In the event of the company being wound up members are required to contribute an amount per
member not exceeding £1.
Trustees
The Trustees are the charity Trustee5 for the purpose of charlty law are elerted after the Annual General
Meeting {AGM).
Constitutionally one third of the Trustees stand down each year and shall be eligible for re*lection at the next
Annual General Meeting. The Trustees to retire shall be the longest in office Sin￿ the last election. New
Trustees may be nominated by the members and if there are more nominations than positlons then an
elertlon by members present is held at the AGM.
At the AGM in March 2024 Ruth Girling, Mark Potter and Geoff Walker were re*lected as Trustees. Gemma
Gregory was nominated by member5 and appointed as a Trustee.
Trustee Indurtion and Tralnlng
The Trustees try to ensure that Trustees appointed have the necessary skllls to further the Trust's objectives.
The Trustees are regularly informed of training and development opportunities which arise that could be of
benefit to the Trust. The Trustees are aware of the policies and procedures that cover the day-to-day work of
the Trust.
Organlsational Structure
The Trust Board is responsible for the ultimate management and direction of the Trust. The Trust Board
concentrates on strategic decision making.
The Trust has 2 sub-committees led by a Chair who is also a Trustee. The sub-committees report to the Trust
Board. The sub-committees are Restoration and Boats.
Individual Trustees oversee membershipi publicity, promotions, Hollingwood Hub, merchandise and finan￿.
SMH
Page 2

THE CHESTERFIELD CANAL TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
STRucfuRE GOVERNANCE AND MANAGEMENT
continued
Organisatlonal Strurture (continued)
The Trust has one employee (Development Manager) and about 200 volunteers.
The Trust also has strong partnership links with many organisations, most notably with Derbyshire County
Council, Chesterfield Borough Council, the Canal and River Trust and the Inland Waterways Association. We
value and thank these organisations for their help and co-operation.
Asthe restoration moves into other areas, we lookforward to working more closely with North East Derbyshire
District Council, Rotherham Metropolitan Borough Council, Bassetlaw Distritt Council and Nottinghamshire
County Council to achieve full restoration. These authorities are represented on the Chesterfield Canal
Partnership.
OBJEcfivES AND ACTIVITIES
The Trusts objectives and principal activities are:
To promote the restoration to good navigable order of as much as considered possible of The Chesterfield
Canal and to maintain and improve the Waterway for the use and benefit of the public.
To promote the construttion 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 history, use of and associated wildlife of the waterway.
Volunteering
The Chesterfield Canal Trust is dependent on its many volunteers to whom it is greatly indebted. Their
enthusiasm, dedication and hard work make our organisation the envy of so many cther5.
The Trust has an online program to co-ordinate the booking by our volunteers for activitie5 With the boats,
shop, paddlesports and our exhibition trailer,
The Trust has commissioned a professional company to review the policies that the Trust has, meets the
required standards, particularly with regards to Health and Safety.
Volunteer hours.
Our 200 volunteers contributed over 32,800 hours towards the restoration of the canal and the Trusvs other
activities this year,
These approximate hours can be grouped as follow:
Activity
Hours
Full time Job Economic Value
Equivalent
11.2
Promoting, improving, and protetting the canal
Restoring and maintaining the canal
Member sUPPOrt and Administration
19,000
9.000
5.000
£433,000
£188,000
£123,000
Total
33.000
20
£744.000
Pa8e 3
SMH

THE CHESTERFIELD CANAL TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
OBJEcfivES AND ACTIVITIES
continued
Public Beneflt
When planning activities for the year, the Directors have considered the Charity Commission guidance on public
benefit.
Tripboats
The Trust's four Tripboats, which are based along the Canal at Chesterfield, Hollingwood, Shireoaks
and Ranby continue to promote the Trust and its aims.
Historic boats
Python carrled out various canal maintenance tasks along the Eastern section of the canal working
with the Canal and RiverTrust. Dawn Rose held horse boat pull demonstrations.
Paddlesport5
During the summer months the Trust assists CJB Training and Adventure to hire out canoes and
paddleboards to enable members of the public to sail thern on the canal. This year over 200 people
hired equipment from our base at Hollingwood.
Green Flag
th
The Trust has been awarded a Green Flagfor Hollin8wood Hub for the 8 year in a row, in recognition
of the work our volunteers undertake to make the area ever rnore attractive.
Talks
We delivered 25 talks to various organlsations. These Included schools. Wl, Probus, History and
transport groups. They spread the word about the canal and also make very useful income on
merchandise sales.
Media coverage
We continue to get regular coverage of all our activities in all forms of the media, including several
spots on Radio Sheffield and a piece on Look North about the start of restoration works at Staveley.
We have also been filmed for an upcoming episode of EsG3pe to the Country on BBCI
Hollingwood Hub
The information centre and shop has been open almost every day ex￿pt when used for meetings.
An upstairs room in the original lock house is used as an office and small meeting room for the use by
our volunteers and employees.
Social media
The use of social media by our volunteers has proved very successful and enabled far more members
of the public to experience trips on our boats, events and paddleports. It also allows our volunteers to
follow events happening in the Trust more easily.
People visiting the canal because of Trust activities
7,000 people had a trip on one of our boats along the length of the Chesterfield Canal
6,000 people visited our Information Centre and 9,000 people visited Kate￿5 Coffee Shop. (Estimates)
Pa8e 4
SMH

THE CHESTERFIELD CANAL TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
ACHIEVEMENTS AND PERFORMANCE
Charitable Activities
The Trust continues to employ a Development Manager to plan present and future restoration of the canal.
He work5 With local authorities, statutory agencies and experts and is assisted by several volunteers both at
an office level and at expert level. The Trust pays for expert help to assist him.
In March 2022 a full business case to restore the canal from Staveley was presented to the 5taveley Town
Board. This was subsequently approved, and the Chesterfield Canal Trust was awarded £5.3m. This fundin8
has subsequently been increased to £5.83m. However, inflation and additional utility diversions are putting
significant pressure on the scheme costs, and so we are having to review the scope of work to be delivered.
We are actively seeking and have received additional funding for the projett.
For the Towns Fund scheme, work commenced on the building and landscaping for the new Tran5 Pennine
bridge in May 2024. (This was completed and open to the public in October 2024.).
The Trust has continued wlth the design worki ground Investigation and surveys for the second phase of the
projett. {We expect to appoint contractors in early 2025.1
We have explcred the possibility of transporting £5.5m worth of clay onto the site of the canal to be restored.
The Trust reco8nises the hard work of our volunteers and provides, free of charge, First Aid Tralnlng to all the
volunteers and forthose on boats the ability to achleve the Royal Yachting Associations Helmsman's Certificate
or National Community Boats Association Certiflcate in Community Boat Management.
The Trust produces a quarterly magazine, the Cuckoo, to inform our members, local businesses and politicians
of our activities. This is always welcomed, and we receive many positive comments about the articles
published. It is particularly welcomed by members who do not have computer access.
The Trust send monthly electronic newsletters to all our members with email addresses, about 90 media
organisations, all the MPS, county, borough and distrlct councillors along the route and many other
organisations, including all the local librarles.
The Chesterfield Canal Partnership, of which we are the key member, has commissioned a Chesterfield Canal
Regeneration Master Plan to produce a strategic framework for the regeneration of the Canal. (This will be
available towards the end of 2024.1
Publlcations
We produced 20,000 copies of the Visitor Guide to the Chesterfield Canal.
We reprinted our le3flet"An Introduction to the Chesterfield Canal"
We produced our 2025 Calendar.
Pa8e S
SMH

THE CHESTERFIELD CANAL TRUST
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
ACHIEVEMENTS AND PERFORMANCE
continued
Membership
During the year membership of the Trust decreased by 25. Although many people continue to join the Trust
the age profile of our members is such that it means we also lose many members. The membership at 30
September was 2078.
Fundraisin8
The Trust has engaged the services of a Fund-Raising consultant for an initial 3 year period. The consultant has
already raised a considerable amount of funding for the current restoration plans.
The Trusvs four trip boats remain an ext￿melY popular means of promoting the canal and over the year
volunteer5 spent over 17,000 hours tsking over 7,000 members of the public, many of whom had never seen
the canal before, onto the canal for celebrations and trips. Our popular trips with Santa enabled 1,790 people
to speak to Santa and receive a present or festive drink.
The Trust's Information Centre & Shop at Hollingwood Hub, with Katevs Coffee Shop, contlnues to contribute
to the funds of the charity.
Glfts, legacies and donations also continue to help us achieve our ambltion of restoring the Chesterfield Canal.
We are extremely grateful for all the monies recelved from these sources and in particular from the estate of
former member who lived in Wendover who contributed over £lm to the Trust.
FUTURE PLAN
We will continue to engage or employ expert help, to assist our Development Manager and Fund-Raising
Consultant succeed in grant applications for future restoration.
We will transport a large amount of clay, kindly donated by Suon Ltd, to the area of canal to be restored.
Work on the second phase of the Towns Fund project will start during 2025 to build a new lock, a bridge, a
pumping system, a length of canal and 2.5 km of new towpath to Renishaw together with the associated
landscapin8 around the restored canal.
We plan to commence work at Renishaw to restore the canal around the village,
We will explore ways to fvnd the restoration gap between Stavele¥ and Renishaw including the aqueduct over
the River Doe Lea.
We will consult and produce a Strategic Plan for the Trust to cover the years 2025-2030.
We will explore how the changing canal environrnent around Chesterfield, Staveley and Hollingwood will
affect the Trust and will continue to be actively involved in ensuring planning forthe changes is for the benefit
of the canal corridor and the people who use it.
Pa8e 6
SMH

THE CHESTERFIELD CANAL TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
FINANCIAL REVIEW
Income for the year has increased by £2,405,553 on 2023. Total income for the year is £3,291,662 compared
with £886,109 in 2023. The main reason5 for this are the receipt of £1.275m from a legacy and £1.440m from
Chesterfield Borough Council as part of the £5.83m secured through the Staveley Towns Fund Deal.
Expenditure for the year has increased by £945,075. Total expenditure for the year is £1,813,7251£200,078
revenue expenditure and £1,613.725 assets under construction) compared with £868,650 in 2023. The
increase in due to the expenditure incurred in progressing the Staveley Towns Fund Deal project {£1.614m>.
The net increase in funds was £3,091,584 (2023: £667,309).
The increase in unrestricted funds was £1,302,948.
The increase in restricted funds wa5 £1,788,636: £1,439,886 of this is grant towards the cost of the
Staveley Towns Fund Canal Restoration project.
Decisions have made by the Trust that commit £1,143,200 of unrestricted funds that have yet to be incurred:.
The appointment of a Fundraiser post for 3 years (£70,000).
o A commitment to core fund an element of the Staveley Towns Fund Deal {£123,2001. This had been
planned to be spent in 2021, but the first tranche of the Staveley Towns Fund was priorStised to be
used f irst.
o The Rewatering Renishaw project {£150,000).
o Movement of clay to support future development of the canal (£800,000)
The Trust had funds carried fonmard at 30 September 2024 of £5,018,475 12023: £1,926,891) of which
£2,606,128 (2023: £817,492) are restritted funds and £2,412,347 {2023: £937,657) are unrestritted funds.
Reserves Policy
At the Trust Board meeting in August 2021 the Trustee5 approved a Resenies Polirywhich requlred a Minimum
of £150,000 free reser+/esto be maintalned to meet the financial risks faced bythe Trust. Current free reserves
net of future commltments is £206,390. Reserve levels wlll be monitored to ensure they remain adequate to
cover anticipated future requirements. The policy will be reviewed annually to ensure it is fit for purpose.
Investment Pollcy
The Trust has significant reserves at the present in advance of commitment to fund the capitsl works to the
canal over the next 18 months. In view of this the Trustees have agreed to share cash reserves around and
suspend the requirement to limit individual investments in financial institutions operatin8 Within the Financial
Conduct Authorit(5 remit.
Pa8e 7
SMH

THE CHESTERFIELD CANAL TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
RISKS
MITIGATIONS
Failure to deliver the Towns Fund Project deliverables within
the required timescales and financial envelope
Appointment of specialist advisors and
project management capacity
Appointment of a Project Board with the
necessary mix of skills and experien
Regular monitoring of cost and critical path
Clear decision-making processes
Risks shared with key funders to enable
early consideration of implications
Procurement strategy reflects financial
constraints
Contrarts are designed to reflect the risk
appetite of the Trust
Additional expert capacity is brought in
when required
Increased level of financial contingency
from Trust Funds
Public Ilability and Trustee Liability
insurance
Percelved negligence by the Trust or volunteers
Training of volunteers
Risk assessments undertaken for all major
activities
Accidents to visitors, volunteers and the public
Health and Safety policy for all volunteers
Monthly review of any incldents / accidents
Careful financial management
Maintenance of adequate cash reserves
Spread funding across a number of different
f inancial institutions
Investments restrlcted to accredited
institutions
Failure of income streams
Security of Investment Funds
At Seast 50% of funds on short term deposit
Sharing of knowledge and information
Robust management of key internal
documents
Loss of Ernployee / Contrartors
Identify capable successors
Page 8
SMH

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
TRUSTEES RESPONSIBILITIES STATEMENT
The Trustees (who are also directors of The Chesterfield Canal Trust for the purposes of company law) are
responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prarticel.
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the
state of affairs of the charitable company and of the incoming resources and application of resources, including the
income and expenditure, of the charitable company for that period. In preparing these financial statements, the
Trustees are required to:
Select suitable accounting pollcies and then apply them conslstently.
Observe the methods and principles in the Charities SORP 2019 (FRS 1021.
Make judgements and estimates that are reasonable and prudent.
State whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements.
Prepare the financial statements on the going concern basi5 unless it Is inappropriate to presume that the
charitsble company will continue in operation.
The Trustees are re5ponslble for keeping adequate accounting records that disclose wlth reasonable accuracy at any
time the flnancial position of the charitable company and enable them to ensure that the flnancial ststements comply
with the Companies Act 2006. They are also responsible for safeguardlng the assets of the charitable company and
hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities
APPROVAL
ved by the Board on
27 MARCH 2025
and signed on their behalf by:
Dr P G Hardy
Chalr
PagÈ9
SMH

Re
ort of the Inde
ndent Auditors to the Trustees of
The Chesterfield Canal Trust Limited
Opinion
We have audited the financial statements of The Chesterfield Canal Trust Limited (the 'charitable company,) for
the year ended 30 September 2024 which comprise the statement of Financial Activities, the Balance Sheet and
notes to the financial statements, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards {United Klngdom Generally Accepted Accounting Prartice}.
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at
30 September 2024 and of its incoming resources and application of resources, including its
result, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted
Accountlng Practice. and
have been prepared In accordance with the requirements of the Companies Act 21YJ6.
Basis for opinlon
We conducted our audit in accordance with International Standards on Auditing (UK) {ISA5 (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the
audit of the financial statements section of our report. We are independent of the charitable company in
accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK,
including the FRC'S Ethical Standard, and we have fulf511ed our other ethical responsibilities in accordance with
these requirements. We believe that the audlt evldence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Con¢luslons relating to golng concern
In auditing the financial statements, we have concluded that the trustees, use of the golng concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertalnties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees wlth respect to going concern are described In the
relevant settions of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information
included in the Annual Report, other than the financial statements and our Report of the Independent Audltors
thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial statements or
our knowledge obtained in the audit or otherwise appears to be materially misstated, If we identify such
material inconsistencies or apparent material misstatements, we are required to determine whether this gives
rise to a material misstatement in the financial statements themselves. If, based on the work we have
performed, we conclude that there is a material misstatement of thi5 Other information, we are required to
report that fact. We have nothing to report in this regard.
P38e 10
SMH

Re
ort of the Inde
ndent Audltors to the Trustees of
The Chesterfield Canal Trust Limited
Matters on which we are required to report by exception
We have nothing to report in respert of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion-
the information given in the Report of the Trustees is inconsistent In any material respett with the financial
statements; or
the charitable company has not kept adequate accounting records; or
the financial statements are not in agreement with the accounting records and return5; or
we have not received all the information and explanations we require for our audit.
Responsibillties of trustees
As explained more fully in the Statement of Trustees, Responsibilitles,the trustees {who are also the directors
of the charitable company for the purposes of company lawl are responsible for the preparatlon of the
financial statements and for being satisfied that they give a true and fair view, and for such internal control
as the trustees determine is necessary to enable the preparation of financial statements that are free from
material mi55tatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless the trustees either Intend to liquidate the charitable company
or to cease operations, or have no realistic alternative but to do so.
Our responsibllltles for the audlt of the financlal statements
We have been appointed as audltors under Section 144 of the Charities Act 2011 and report in accordance
with the Art and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financlal statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent
Auditors that includes our opinion. Reasonable assurance 15 a high level of assurance, but is not a guarantee
that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expectedto influence the economic decisions of userstaken on the basis
of these financial statements.
The extent to which our procedures are capable of detecting irregularltie5, including fraud is detailed below:
Our assessment of the susceptibility to material misstatement, whether by fraud or error, is made in a rlsk
based approach.
In this approach, laws and regulations applicable to the entity, such as the Companies Act 2006, United
Kingdom Generally Accepted Accounting Practice including Financial Reporting Standard 102, Charities SORP,
employment law, and Health and Safety law is considered. The policies and controls the entity has in place
to comply with these laws are reviewed, by discussion, reviews of correspondence and registrations
monitored by external bodies. The engagement team remained alert to any indications of fraud or non-
compliance with law5 and regulations throughout the audit.
Pa8e 11
SMH

Re
ort of the Inde
endent Audltors to the Trustees of
The Chesterfield Canal Trust Llmited
Policies and controls relating to the risk of material misstatement as a result of fraud, management override
of controls. and revenue recognitions are also considered. These are assessed by obtaining an understanding
of the charity's operations and control environment. The policies and controls have been reviewed by
discussion, review and sample testing of accounting entries, including journals, challenging assumptions and
judgements, reviewing and evaluating related parties transactions, and wider background searches. Testing
of income recognition and fund accounting is also completed.
We have ensured that the engagement team have appropriate leve15 of competence and experience to
effectively monitor these risks and carry out work relevant to our assessment of each risk, including
consideration of the sertor the charity operates in and its size and complexity.
Afurther descrlption of our responsibilitiesfor the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uk/auditorsre5ponsibilities. This description forms part of our
Report of the Independent Auditors.
Other matter which we are requlred to address
The comparatlve figures have not been audited as the audit exemption wastaken. As far as we are aware there
is no material misstatement In those figures.
Use of our report
This report is made solely to the charitable company's trustees, as a body, In accordance with Part 4 of the
Charities {Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state
to the charitable company's trustees those matters we are required to state to them in an auditors, report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charitable company and the charitable company's trustees as a body, for our audit work,
for this report, or for the opinions we have formed.
James Salim FCCA (Senior Statutory Auditor)
for and on behalf of Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
5118YZ
Qltrlo 61Eol
Date.. ...........
Page 12
SMH

THE CHESTERFIELD CANAL TRUST LIMITED
STATEMENT OF FINANCIAL AcfiviTIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNn
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Notes
Unrestrirted Restricted
Funds
Funds
Total
2024
Total
2023
Income from
Donatlons and legacies
Grants
Donations
Legacies
Membership Fees
Gift Aid
Total donations and legacies
1,775,307
60,464
1275,000
20,752
5,481
3,137,004
628.128
22,685
26,373
20,576
6,620
704,382
4,841
11,684
1.275,000
ZO.75Z
1,770.466
48,780
Z,481
1,821.727
1.315,277
Other trading activitles
Concerts / Events / Talks
Fund Raising
Sales
Property Rental
Total other tradin8 activitles
458
458
1,220
27,990
33,892
17,292
80,394
31,997
18.465
50,920
31.997
18,465
50,920
Sundry Income
1,116
500
1,616
430
Investment Income
23,627
23.627
9,452
Charitable artlvities
Trip Boat Income
Hollingwood Hub
Total charitable income
63,432
15,063
78,495
63,432
15,063
78,495
74,544
16,907
91,451
Total Income
1,469,435
1,8Z2,227
3,291,662
886,109
Expenditure on:
Charitable activitles
Loss on sale of asset
Cost of generating funds
Total Expenditure
142,376
33.591
175.967
171,029
251
41,520
212,800
24,111
166,487
24,111
200,078
33.591
Net Incoming / (expenditure)
before other recognised gains
Gains on revaluation of flxed assets
1,302,948
1,788,636
3.091,584
673,309
Net Movement in Funds
1,302,948
1,788,636
3,091.584
673,309
Total Funds brought forward
at l October 2023
1,109.399
817,492
1,926,891 1,253,582
Fund Balances carried forward
at 30 September 2024
2.412,347
2,606,128
5.018A75 1,926,891
The statement of financial activities complies with the requirements for an income and expenditure account under
Companies Act 2006 and includes all gains and losses in the year. All activities relate to continuing operations.
Page
SMH

THE CHESTERFIELD CANAL TRUST LIMITED
BALANCE SHEET
ASAT 30 SEPTEMBER 2024
Notes
2024
2023
Fixed Assets
Tangible Assets
1.270,648
{6)
2.851,696
Current Assets
Cash at Bank
Cash in Hand
Debtors & Prepayments
Stock
1,928,603
573
513,494
13,129
2,455,799
639,454
539
179,145
9,898
829,036
(7)
Credltors: Amount falllng due
within one year
162,793
666,243
(81
289,020
Net Current Assets
2.166,779
Credltors: Amount falllng due after one (9)
year
10,000
Net Assets
5.018,475
1,926,891
Accumulated Funds
Revaluation Reserve
Unrestricted funds
Total unrestricted funds
Restricted funds
(11)
(12)
162A77
2,249A70
171,742
937,657
1,109,399
817,492
1,926.891
2,412.347
2,606,128
5,018,475
112)
These financial statements have been prepared in accordance with the provisions applicable to companies subject to
the small companies regime with Part 15 of the Companies Act 2006.
The financial ststements were approved by the Board on 27 MARCH 2025 and signed on their behalf by
Dr P Hardy
Chair
r G Walker
Treasurer
Company registratlon number: 03403203
Page 14
SMH

THE CHESTERFIELD CANAL TRUST LIMITED
STATEMEMf OF CASH FLOWS
ASAT30 SEPTEMBER 2024
Notes
2024
2023
Cash flows from operatlng expenses
Net cash provided by operating activities
115)
2,889,203
697,058
Cashflows from investing artivlties
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
23.627
9,452
11,613.647)
(673.481)
Net cash provlded by / (used in) investlng artivlties
(1,590,020)
(662.529)
Cashflows from financing activities
Cash inflows from new borrowing
Repayments of borrowing
10,000)
(10,CrfK))
Net cash used in financin8 actlvities
(lo.￿)0
(10.000)
Change in cash and cash equlvalents In the year
Cash and cash equivalents at the beginning of the year
Cash and cash equlvalents at the end of the year
1,289,183
639,993
1,929.176
24.529
615,464
639,993
116)
Page 15
SMH

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Accounting policies
(a) Charlty Information
The Chesterfield Canal Trust Limited is a charitable company limited byguarantee incorporated in England
and Wales, The registered office is Hollingwood Hub, 22 Works Road, Hollingwood, Chesterfield, S43 2PF.
(b) Basls of preparation
The financial statements have been prepared under the historical cost convention with items recognised
at cost ortransaction value unless otherwise stated in the relevant notes to these accounts. The financial
statements have been prepared in accordance with the Statementof Recommended Practice: Accounting
and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) issued on 16 July 2014 las updated by Update
Bulletin 11 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland
{FRS 1021 and Charities Act 2011.
The charity constitutes a public benefit entity as deflned by FRS 102.
The financial statements are prepared on an ongoing concern basis under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the charity and
rounded to the nearest £.
(c) Fund accounting
Unrestrirted funds are available for the use at the dlscretion of the trustees in furtherance of the
general objectives of the charity.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through
the terms of appeal.
(d) Income
All income is included in the Statement of Financial Activities when the charity is entltled to the income,
the receipt is probable, andthe amount can be quantified with reasonable accuracy. Thefollowing specific
policies are applied to particular categories of income".
Income received by the way of grants, donations and gifts 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 charitable trading artivity is accounted for when earned.
Income from grants, where related to performance and specific deliverables, are accounted for as the
charity earns the right to consideration by its performance. Grants, where entitlement is not
conditional on the delivery of a specific performance by the charity, are recognised when the charity
becomes unconditionally entitled to the grant.
Income from life membership subscriptions is included in the year of receipt.
Page 16
SMH

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Accounting pollcies- continued
(e}
Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. The Trust voluntarily registered
for VAT in March 2020 therefore expenditure excludes all VAT which can be fully recovered, any
unrecoverable VAT is reported as a part of the expenditure to which it relates:
Costs of raising funds comprise the costs associated with attracting voluntary income and the costs
of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for beneficiaries. It includes both cost5 that can be allocated directly to such artivities
and those costs of an indirert nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charity and include the independent accountanvs fees and any costs linked to
the strategic management of the charity.
All costs are allocated between the expenditure categories of the Statement of Financlal Activities on
a basi5 designed to reflect the use of the resource. Costs relating to a particular activity are allocated
dirertly.
(fj Value Added Tax (VAT)
The Trust voluntarily registered for VAT in March 2020. VAT is excluded from all income and expenditure
received and paid by the Trust except where it is classed as irrecoverable by HM Revenues & Customs.
(g) Tangible flxed assets and depreclation
Fixed assets purchased with a value of less than £1,000 are written off in full in the year of purchase.
Depreciation is provlded on all tangible fixed assets at rates calculated to write off the cost on a straight-
line basis over their expected useful economic lives as follows:_
Asset Type
Rate
Asset Type
Rate
Trip Boats
5%
Furniture
25%
Motor Vehicles
25%
Commercial Property
io%
Plant & Equipment
10%125%
Residential Propertv
Computer Equipment
33.33%
Fixtures and Fittings
Office Equipment
25%
Where assets are under construction no depreclation is provided until completion.
20%
(h) Revaluation of flxed assets
The boats were revalued by Monarch Marine Ltd based upon inspections carried out in June 2021. The
valuations were carried out under the Yacht Designers and Surveyors Association current Standard
terms and condltions. The increase in value has been transferred to the Revaluation Resenie and will be
released to the income and expenditure account over the revised life of the boats. The estimated life of
the boats is estimated to be 20 years.
The residential property has been revalued as at 30 September 2022. The valuation was undertaken by
Norton Highfield Ltd, Chartered Surveyors. The increased asset values and depreciation to the date of
the valuation has been taken to the Revaluation reserve and will be released to the income and
expenditure account over the remaining estirnated life of the properties (50 years).
(i)
Stocks
Stock is included at the lower of cost and net realisable value.
(i)
Interest Receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably
by the Charity; this is normally upon notification of the interest paid or payable by the bank.
Page 17
SMH

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
l. Accounting poli¢les- continued
(k) Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount repaid net of any trade discounts due.
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 acquisition or opening of the deposit or similar account.
(i)
(m) Credltors and provislons
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of fund5 to a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at
their settlement amount after allowing for any trade discounts due.
(n) Flnancial instruments
The charity only has flnancial assets and financial liabllities of a kind that qualify as basic financial
instruments. Basic financial instrument is initially recognised at transaction value and subsequently
measured at their settlement value.
(o) Critical accounting estimates and areas of Judgment
Estimates and Judgments are contlnually evaluated and are based on hlstorical experience and other
factors, including expectations of future events that are considered reasonable under the circumstances.
Crltical accounting estlmates and assumptions:
The charity makes estimates and assumptions concernlng the future. The resulting accounting estimates
and assumptions will, by definition, seldom equal the related actual results. There are no estimates and
assumptions that have a significant risk of causing a material adjustmentto the carrying amountsof assets
and liabilities within the next f inancial year.
(p) Employee beneflts
When employees have ￿ndered services to the charity, short-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for
the service.
(q) Pension 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.
Land and Bullding Revaluation
Land and buildings acquired for the purpose of canal restoration will be professionally revalued every 3
years.
PJ8e 18
SMH

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Prior Year Statement of Financial Artivities
Notes
VnrestrErted
Funds
Restricted
Funds
Totsl
2023
Income from donations and legacies
Grants
Donations
Legacies
Membership Fee5
Gift Aid
Total donations and legacies
900
19,386
500
20,576
4,965
46,327
627,228
3,299
25,873
628,128
22,685
26,373
20,576
6,620
704,382
1,655
658,055
Other trading actlvities
Advertising & Sponsorshlp
Concerts / Events / Talks
Fund Raising
Sales
Property Rental
Total other tradlng activitles
1,220
27,990
33,892
17,292
80,394
1,220
27,990
33,892
17,292
80,394
Sundry Income
430
430
Investment Income
9,452
9,452
Charltable artivlties
Trip Boat Income
Hollingwood Hub
Total Income
74,544
16,907
228,054
74,544
16,907
886,109
658,055
Expendlture on:
Charitable Actlvities
Loss on sale of asset
Cost of Generating Funds
Total Expenditure
14}
(5)
159,642
251
41,520
ZOl,413
11,387
171,029
251
41,520
212.800
11,387
Net Income/lexpenditure) before other
recognised galns
26.641
646,668
673,309
Galns on revaluation of fixed assets
(11)
Net Movement In Funds
26,641
646,668
673,309
Total Funds brought forward at l October 2022
1,082,758
170,824
1,253,582
Fund Balances at 30 September 2023
1.109,399
817,492
1,926,891
There are no recognised gains and losses in the year other than the surplus for the year identified above as net
income.
Page 19
SMH

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (coHfiNUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Sundry Income
Sundry income relates to training income.
Charitable Artivities
Unrestrirted
Funds
Restricted
Funds
Total
2024
Total
2023
Advertising and Publicity
Alarm Maintenance & Monitorin8
8ank / Paypal Charges
Caterlng
Cleaning
Contracting Service5
Depreciation
Donations Given
Electricity & Gas
Fixtures and fittings
Fuel & Oil
Governance
Health and Safety
nsurance
Interest Paid
Legal & Professlonal Fees
Licences
Materials
Miscellaneous Expenses
Mooring Fees
Postage & Stationery
Publicity Material & Signage
Rent & Rates
Repairs & Renewals
Santa Expenses (Trip Boats)
Security Service5
Surveys / Inspections / Planning Fees
Telephone
Tools and Equipment
Training
Travelling Expenses
Waste Removal
Water
Website / Computer / Software
Wages/Salaries (Note 19)
65
1,206
5,299
4,195
325
3,349
20,903
io
5,978
376
1,850
6,195
272
12,205
165
I,S22
2,846
1,037
1,792
5,150
3,076
6,960
4,064
19,231
1,214
171
1,776
206
1,101
911
88
397
849
2,394
25,198
142,376
65
1,206
5,299
4,195
325
3,367
32.599
10
5,978
376
1.850
6,195
272
12,205
165
23,349
2.846
1,037
1,842
5.150
3.076
6,960
54
506
6,193
5,332
341
3,036
32,404
742
4,529
745
5,208
2,485
1,792
12,031
320
8,378
2,714
2,017
5,357
4,720
5,875
10,296
3,377
14,578
1,185
700
763
351
3,210
1,772
142
1,090
585
4,667
23,534
171,029
18
11,696
21,827
50
19,231
1,214
171
1,776
206
I,ioi
911
88
397
849
2.394
25.198
175,967
33,591
SMH
Pa8e 20

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANaAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Raising funds
Unrestrfcted
Funds
Restrlcted
Funds
Total
2OZ4
Total
2023
Charitable Activities
Festival
Cost of Sales
Fundraising Costs
18,112
10,085
13,323
41,520
6,901
17,210
24,111
6,901
17,210
24,111
Tanglble flxed assets
Boats
Dawn Rose
Motor
Plant and
Vehicles Equlpment
Property
A55ets
Under
Construction
Total
Cost
AtIOct23
Additions
Disposals
At 30 Sept 24
262,500
40,000
5,494
61,003
342,084
667,237 1.378,318
1,613,647 1,613,647
262,500
40,000
5,494
61,003
342,084
2,280.884 2.991.965
Depreciation
AtIOct23
Charge foryear
Disposals
At 30 Sep Z4
30,624
13,125
4,667
2,000
152
1,832
46,062
4,117
26,165
11,525
107,670
32.599
43,749
6,667
1,984
50,179
37,690
140,269
Net book value at
30 September 24
218,751
33,333
3,510
10,824
304,394
2,280,884 2.851,696
Net book value at
30 September 23
231,876
35,333
5,342
14,941
315,919
667,237 1,270,648
Dawn Rose - New Build Wooden Worklng Boat:
This is included in fixed assets to reflect the capitalisation of the construction costs of the boat.
Revaluatlon of the Boats and Dawn Rose
The Boats were revalued in June 2021. The valuation was undertaken by Monarch Marine Ltd. The increased
asset values and depreciation to the date of the valuation has been taken to the Revaluation reserve and will be
released to the income and expenditure account over the remaining estimated life of the boats (20 years).
Revaluation of Property
The commercial properties at 241/243 Sheffield Rd were revalued for the accounts at 30 september 2022. The
valuation was undertaken by Norton Highfield Ltd, Chartered Surveyors. The increased asset values and
depreciation to the date of the valuation has been taken to the Revaluation reserve and will be released to the
income and expenditure account over the remaining estimated life of the properties150 years).
SMH
P38e 21

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Tangible fixed assets (continued}
Assets Under Construrtlon
The Trust has been successful in securing £5.83m from the Staveley Towns Fund Deal {administered by
Chesterfield Borough Council) to support work to restore a section of the Canal. The construction work includes
restoring a section Df the canal, enhanced towpaths, bridge over the canal as part of the Trans-Pennine Trail and
other canal infrastructure. The work is anticipated to be completed in December 2025.
Debtors
2024
2023
Trade Debtors
Other debtors and prepayments
Value Added Tax
Tenant deposit scheme
Other deposits
333,662
92,977
923
85,932
513.494
139,545
38,677
923
179,145
Creditors: amounts falllng due wlthln one year
2024
2023
Trade credltors
Loan
Other creditors and accruals
Tenant Deposit
268,790
10.000
9,307
923
289,020
142,398
10,000
9,472
923
162,793
Credltors: amounts falling due after one year
2024
2023
Charge attached to property situated at 243
Sheffield Road
10.000
10. Taxation-
As a charity, The Chesterfield Canal Trust Limited is exempt from tax on incorne and gains falling within the
available tax exemptions to the extent that these are applied to its charitable objetts. No tax charges have
arisen in the charity.
11. Revaluation Reserve
2024
2023
Openin8 Balance
Revaluation Uplift in year
Applied in year
Balance carried forward
171,742
181,008
(9,26S)
162.477
19,2661
171,742
SMH
Page 22

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12. Funds
Current Year
Balance
01.10.23
Income
Expenditure
Transfer
Between
Fund5
Balance
30.09.24
Unrestrirted
General
937,657 1.469,435
166,487
2,240.605
Restrirted
Hugh Henshall Trip Boat
Staveley Towns Fund Project
Python Historic Boat Refurblshment
John Varley Trip Boat 1st Stage Payment
Work Party Equipment
Last Cuckoo Project
Walking Festival
Canal Feasibility Study
Chesterfield Canal Partnership
2027 Appeal
CIL Funding
Keith Ayling Lock Appeal
Renishaw Project
30,625
668,759 1,613,647
14,197
10,527
1,746
1,500
2,271
25,000
13,378
49,489
3,550
27.075
(50.000) 2.232,406
11,797
6,527
2,400
4,000
1.746
(2,271)
20,000
68
13.310
90,222
50.000 196.318
21,973
40,289
146,318
21.973
1,827
33,591
1,827
817,492 1,822,227
2.606.128
Total Funds
1,755,149 3,291,662
200.078
4.846.733
Prlor Year
Balance
01.10.22
Income Expendlture
Transfer
Between
Funds
Balance
30.09.23
Unrestricted
General
901,750 228,054
192,147
937,657
Restrirted
Hugh Henshall Trip Boat
Staveley Towns Fund Project
Python Historic Boat Refurbishment
John Varley Trip Boat 1st Stage Payment
Work Party Equipment
Last Cuckoo Project
Walking Festival
Canal Feasibility Study
Chesterfield Canal Partnership
2027 Appeal
32.531
50,000 588,850
15.070
13,382
7.499
1,500
Z,207
1,906
30.625
668,759
14,197
10,527
1,746
1,500
2,271
25,000
13,378
49,489
817,492
29,909
873
2,855
5,753
64
25,000
13,378
48,635
30,763
170,824 658,055
(29,909)
11,387
Total Funds
1.072.574 886,109
203,534
1.755.149
SMH
Page 23

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The purpose of the restricted funds are as follows:
Hugh Hen5hall Trip Boat- A project to build an accessible trip boat supported bythe Big Lottery Fund.
Walking Festival - An annual event started in 2018.
Frlends of Dawn Rose - Refurbishment of wooden working boat of a type used to carry cargoes on the
Chesterfield Canal.
Python Hlstoric Boat Refurbishment - Historic boat Used to promote the Chesterfield Canal at various local
and national events and to assist with volunteer maintenance work on the Chesterfield Canal.
John Varley Trip Boat - Replacement of old trip boat with a ne4V boat.
Work Party Equipment - Purchase of equipment for use in restoring the Chesterfield Canal.
Last Cuckoo Project- Archaeological dig at Bellhouse Basin on the Chesterfield Canal.
2027 Appeal - Fund to complete the Canal's Restoration.
Staveley Towns Fund - The Trust h35 been awarded a grant to deliver restoration of a sectlon of the canal at
Staveley through the Government's Towns Fund Grant Scheme.
Canal Feasibility Study- The Trust Is co-ordinating a proJect with partners to undertake a strategic review of
the feasi bility of restoring Chesterfield Canal to full navigation.
Chesterfleld Canal Partnership-The Trust is the administering body for the partnership of organisations with
the objective of restoring Chesterfield Canal to full navigation.
QLfvndlng-The Trust has successfully applled to Chesterfleld Borough Councll for Communlty Infrastructure
Levy funding to support the development of the Canal.
Kelth Ayllng Lock Appeal- An appeal was launched in 2024 to help finance the building of a new lock on the
canal.
Renishaw Projert - The Trust is to lead on the Rewatering Renishaw project supported by external grant
funding to redevelop a stretch of the canal.
The transfers of funds In the current year were as follows:.
Staveley Towns Fund Project and CIL funding (£50,000) - This receipt of Community Infrastructure Levy
funding was originally Included as part of the fundlng for the Towns Fund Project and has been moved to
identify all CIL funding as one restricted fund.
Walking Festival1£2,271) - The purpose of the restricted fund has been achieved. Trustees approved the
transfer of the balance of funds to the 2027 Appeal.
2027 Appeal (£444) - The movement reflects the transfer of the walking festival restrirted fund and use of
the 2027 fund to finance the expenditure on the Renishaw project (£1,827).
Renishaw Projert (£1,827}- The transfer reflects the movement of funds from the 2027 Appeal to finance the
Renishaw project costs approved by Trustees.
SMH
Pa8e 24

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
13. Analysis ot net assets between funds
Unrestrirted
Funds
Restrlrted
Funds
Total
Tangible fixed assets
Current Assets
Current Liabilities
Long Term Liabilities
573.891
1.858,687
20,231
2,277,805
597,112
268.789
2,851,696
2,455,799
289.020
2A12.347
2,606,128
5,018,475
Prior Year
Unrestricted
Funds
Restricted
Funds
Totsl
Tangible fixed assets
Current Assets
Current Liabilities
Long Term Liabilities
544,794
725,854
603,761
225,275
{29,155) 1133,637)
(10,000)
1,109,400
1,270,648
829,036
1162,792)
{io,0001
1,926,892
817,492
14. Capltal commltment5
Capital commitments authorised but not contracted at 30 September 2024 totalled Nil12023: £nil).
15. Reconcillation of net movement in funds to net cash flow from operatlng activities
2024
2023
Net income for the year (as per Statement of Financial Activities)
3.091.584
673,309
Adjustments for:.
Depreciation charges
Dividends, Interests and rents from inve5tmentS
(Increase) / decrease in stocks
{Increasel / decrease in debtors
Increase in creditors
Net cash from operating activities
32,599
123.627)
{3.231)
(334,349)
126.227
2,889,203
32,404
(9,4521
{2,521}
{112,972)
116,290
697,058
16. Analysis of cash and Cash equivalents
2024
2023
Cash at Bank
Cash in Hand
Totsl cash and ￿$h equivalents
1.928.603
573
1,929.176
639,454
539
639,993
SMH
Page 25

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
17. Analysis of changes in debt
Asatloct
2023
Cashflows
At 30 Sep
2024
Cash at Bank and in Hand
Debt due within l year
Debt due after l year
639,993
(10,000)
(10,000)
619.993
1.289,183
1,929.176
(10,000)
10,000
1,299.183
1.919.176
18. Transartlons with trustees and related party transactions
No trustees received any remuneratlon In the year. Their travelling and other expenses are reimbursed in
respert of expenses incurred on the charity's business, In the year ended 30 September 2024 there were no
such payments paid to Trustees {2023: £nill.
There are no other related party transactlons In the year {2023: none)
19. Staff Costs
2024
2023
Wages and Salaries
Social Securlty Costs
Employer's pension costs
Less capitalised staff costs
48,756
46,958
1.182
(24.740)
25.198
1,205
124,629)
23,534
The average number of persons employed by the Trust during the year was 112023: 11
No employee received remuneration amountlng to more than £60,000 in either year.
20.
Audlt and Independent Examiners, remuneration
2024
2023
Independent Examination
Audit Fees
Other services
2,485
6,000
7,300
9.785
21.
Contlngent liabilities
The Trust has entered into a S278 agreement with Derbyshire County Council to provide security for works
to create a new highway entrance off Ireland Close, Staveley. The agreement required a perforrnance bond
to be lodged with DCC. The bond is repayable in two parts of 60% upon completion of the works (due in
FY24/25) and 40% upon adoption of the highway by DCC (due in FY25/26}.
SMH
Page 26