The Chesterfield Canal Trust Limited
Annual Report
and
Flnancial Statements
Year Ended 30 September 2025
Company Registration number
03403203
Charity Reglstration number
1071376

The Chesterfield Canal Trust Limited
Annual Report
and
Financial Statements
Year Ended 30 September 2025
Contents
Page
Company Information
Report of the DirEctor5
2-10
Report of the Independent Auditors
11-13
Statement of Financlal Activitie5
14
8alance sheet
15
Notes to the Financial Statements
16-27

THE CHESTERFIELD CANAL TRUST LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Reference and Adminlstratlve Information
Charity Name..
The Chesterfield Canal Trust Ltd
Charity Registration Number:
1071376
Company Registration Number..
3403203
Vat Registration Number:
345 0352 26
Registered Office..
Hollingwood Hub
22 Works Road
Hollingwood
Chesterfield
S43 2PF
Directors and Charlty Trustees
Dr P G Hardy
Mr R D Auton
MrGTWalker
Mr M I Potter
Chair
Secretary
Treasurer
Vice Chair
Mrs KAuton
Mrjames Bower
Ms G K Gregory
Mrs R Girling
Mr D Kiddy
Mr I P Rowbotham
Mrs S J Stephens
Mrswaller
Appointed 17.11.25
Appointed 22.09.25
Appointed 07.07.25
Auditor
SMH Group Audlt
5 Westbrook Court
Sharrow Vale Road
Sheffield
South Yorkshire
Sll 8YZ
Principal Bankers
Unity Trust plc
Four Brindleyplace
Birmingham
BI 2JB
SMH
PaEe I

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Directors present their report and financi315tatements for the year ended 30 September 2025. The Trustees have
adopted the provisions of the Statement of Recommended Practice"Accounting and Reporting by Charitie5" IFRS 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 charity's governing document, the Charities Act 2011 and Accounting and Reporting bv
Charities.. statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the
Financial reporting Standard applicable in the UK and Republic of Ireland published October 2019.
STRucfuRE GOVERNANCE AND MANAGEMENT
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 14 July 1997, and registered
a5 3 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 Eoverned under its Articles of
A550ciation. In the event of the company being wound up members are required to contribute an amount per
member not exceeding £1.
Director5 and Trustees
The Director5 of the Company are also charity Trustees for the purpose of charity law and are elected after
the Annual General Meeting IAGMI.
Constitutionally one thlrd of the Trustees Stand down each year and shall be eligible for re-election at the next
Annual General Meeting. The Trustees to retire shall be the longest in office since the last election. New
Trustees may be nominated by the members and if there are more nomination5 than positions then an
election by members present 15 held at the AGM.
During the year Stephen Waller and David Kiddy were co-opted as Trustees.
At the AGM in March 2025 Rod Auton, lain Rowbotham and Sarah Stephens were re-elected as TrLkStees.
Directors Indurtlon and Trainin8
The Directors try to ensure that Directors appointed have the necessary skills to further the Trusys objective5.
The Directors are regularly informed of training and development opportunities which arise that could be of
benefit to the Trust. The Director5 are aware of the policies and procedures that cover the day-to-day work of
the Trust.
Organlsatlonal 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 SLtb-committees report to the Trust
Board. The sub-committees are Restoration and Boats.
Individual Trustees oversee Membership, Publicity. Promotions, Hollingwood Hub, Maintenance,
Merchandise and Finance.
SMH
Pa8e 2

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIREcfoRS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
sTRU￿VRE GOVERNANCE AND MANAGEMENT
continued
Organlsatlonal Structure Icontlnuedl
The Trust ha5 one employee (Development Manager) and about 200 volunteers.
The Trust a150 has strong partnership links with many organisations, most notably with North East Derbyshire
District Council, 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.
As the restoration moves into other areas. we look forward to working more closely with,
Rotherham Metropolitan Borough Council. 8assetlaw District Council and Nottinghamshire County Council to
achieve full restoration. These authoritie5 are represented on the Chesterfield Canal Partnership. We are also
forging links with the East Midlands Cornbined County Authority.
08JEcfivE5 AND AcfiviTIES
The Trusts objectlves and princip81 actlvltles 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 construction 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 hi5tOryi Use of and associated wlldlife 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 others.
The Trust has an online program to co-ordinate the booking by our volunteer5 for activities with the boats.
exhibition trailer, maintenance team, paddlesPOrt5 and Hollingwood Hub & Tapton Lock visitor centres.
Appropriate training and equipment are provided for the various activities of the Trust, free of charge.
Volunteer hours.
Our 200 volunteers contributed over 36,000 hours towards the restoration of the canal and the Trust's other
activities this year.
These approximats liour5 can be grouped a5 follow-.
Actlvlty
Hours
Full time Job Economlc Value
Equivolent
11.6
Promoting, improving, and protecting the canal
Restoring and maintaining the canal
Member support and Administration
20,000
10,000
6,000
£467,000
£237,000
£150,000
Total
36,000
21
£854,000
SMH
Pase 3

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
08JEcfivES ANO AcfivETIES
cantinuod
Publlc Benefit
When planning actlvitles for the year, the Direttors consider the Charity Commission guidance on public benefit.
Tripboats
The Trusys 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' carried out various canal maintenance tasks along the Eastern sectlon of the tanal and other
¢anals working with the Canal and River Trust. 'Dawn Rose, held horse boat pull demonstrations.
Paddlesports
During the summer months the Trust a5S15t5 CJB Training and Adventure to hire out canoes and
paddleboards to enable members of the public to sail them on the canal. This year over 300 people
hired eqL¢ipment from our base at Hollingwood.
Green Flag
The Trust has been awarded a Green Flag for Hollingwood Hub for the 9 year in a row,. In recognition
of the work our volunteers undertake to make the are3 ever more attractive.
Talk5
We delivered 30 talks to various organi53tions. These included schools, Wl, Probus. History and
transport groups. They spread the word about the canal, encourage people to use our tripboats and
also make very useful Income on merchandise sales
Promotions and exhibitions
Thanks to some new volunteers, our promotional trailer ljames Brindleyl has attended several events.
We are hoping to build on thi5 success and Bet it out even more next year. We held a very successful
exhibition in Killamarsh.
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 several appearance5 on BBC Look North and ITV Calendar. We were
also on BBC Breakfast and ITVX had a short documentary about the canal.
Hollingwood Hub
The information centre and shop has been open almost every day except 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 employee.
Tapton lock Visitor Centre
The Trust has reopened an information centre and coffee Shop at Tapton Lock which had been closed
by Derbyshire County Council due to finance and Staffing problems. In the 2 months since we opened
over 1000 people have passed by or visited us.
Social media
The use of social media by our volunteers is very successful and has enabled far more members of the
public to experien￿ trips on our boats, events and paddlesports. It also allow5 our volunteers to follow
events happening in the Trust more easily.
SMH
Pa6E4

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
ACHIEVEMENTS AND PERFORMANCE
Charitable Actlvltles
The Trust continues to employ a Development Manager to plan present and future restoration of the canal.
He works with local authorities, statutory agencies and expert5 and Is assisted by several volunteers both at
an office level and at expert level. The Trust pays for expert help to assist him when required.
The Chesterfield Canal Trust was awarded £5.3m (subsequently increased to £5.83ml from the StaveleyTowns
Fund in March 2022. This funding was to restore 850m of the canal from Staveley towards Renishaw, along
with upgrading the towpath all the way to Reni5haw. Inflation and unexpected utility Costs have put Significant
pressure on the scheme cost, and the Trust has had to review a reduced scope of work with the Towns Fund.
The Trust has Mitigated some of these change by increasing its own financial contribution and applying for
additional funding where possible.
For the Towns Fund scheme, the work on the building and landscaping for the new Trans Pennine Trail bridge
was completed in October 2024. Since then trees and benches have been placed along the route with the help
of Bolsover Woodlands Enterprise.
The remaining work in the Town5 Fund scheme started construction in September 2025 and will complete in
Summer 2026. The works will include constructing the new Keith Ayling lock, installing a pumping system,
restoring 400m of canal to Bellhou5e Basin and the a550Clated landscaping. Preliminary works will be
completed for Bellhouse Bridge. A towpath upgrade will be completed from Bellhouse Lane to the Norbriggs
Cutting and down the cutting itself to Mastin Moor. Unfortunately the towpath upgrade from Norbrigg5 to
Reni5haw will not take place in these works due to difflculties obtaining relevant consents.
In October 2024 we commlssioned an archaeologlcal dig to explore the canal basin at Bellhouse Basin. We will
now incorporate the wa115 of the orlgSnal basin of the canal into the canal to be restored in that area.
Work has commenced at Renishaw. with our restoration work party Starting to erect a compound and
undertaking site clearance works. We are grateful to Fawke5 recycling for supporting the Trust with moving
some of our equipment from Bellhouse Lane to Renlshaw. Ground investigations and further design work have
been undertaken. Inflation and increased engineering requirements are having an impact on the scheme costs
and the works will be phased to ensure that each phase is affordable. Works will gather pace in 2026
The Chesterfield Canal Partnership, of which we are a key member, commissioned a new masterplan for the
canal restOTation and surrounding development, with a strong focu5 on generating the netessary income to
mzintain the canal for the long-term once restored. This was launched in February 2025 and was well received
by all parties. The Canal Corridor has been included as a key element of EMCCA'S spatial vision and the
Partnership and the Trust are worklng to progres5 further development and delivery of the Ma5terplan
element5.
The Trust received £75k from the Water Restoration Fund for the development of an Environmental
Framework for the Doe Lea Valley. The Trust Is leading on this on behalf of an informal partnership of
interested partie5, including the Don Catchment Rivers Trust, Local Authorities, Environment Agency,
Yorkshire Water. Derbyshlre Wildlife Trust, large local landowners and many others. Consultants have been
appointed to look at the environmental ch311enges in the Doe Lea valley and to co-develop solutions with the
partners. We hope that this will demonstrate how restoration of the Puddlebank can form part of a landscape-
scale envlronmental improvement project, and thus be attractive to significant funders in the future. The
current work will conclude in March 2026.
SMH
Pa8e 5

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
ACHIEVEMENTS AND PERFORMANCE
contlnued
Charitable Activtties
The Trust recognises the hard work of our volunteers and has an agreement with Yorkshire Security and
Medical Services to provide, free of charge, First Aid Training to all the volunteers and for those on boats the
ability to achieve the Royal Yachting Associations Helmsman'5 Certificate or National Community Boat5
Association Certificate in Community Boat Management.
The Trust produces a quarterly magazine, the Cuckoo, to inform our members, local businesses and politicians
of our attivitie5. This Is always welcomed, and we receive many positive comments about the article5
published. It is particularly welcomed by members who do not have computer access.
Our monthly electronic newsletters go to all our members with email addresses, about 60 media
organisations, all the MPS, Mayors, county, borough and district councillors alonE the route and many other
organisations, Including all the local libraries and information centres.
Publications
We produced 16,000 copies of the Visitor Guide to the Chesterfield Canal.
We reprinted 500 more copies of David Blackburn's book"Walking along the Chesterfield Canal"
We produced our 2026 Calendar.
Web51te5
Our new Donations website, which is linked to our main website, ha5 proved very successful and sorts out Gift
Aid. Our volunteering website - Artivity Manager- is vital to most of our work. We also run the Chesterfield
Canal Partnership website and support Christine Richardson'5 Chesterfield Canal Archive web51te.
Membership
During the year membership of the Trust decreased by 31. Although many people continue to join the Trust
the age profile of our members is such that it mean5 we also lose many members. The membership at 30
September was 2047
Fundraising
The Trust continues to engage the services of a fundraising consultant. The consultant has raised a
considerable amount of funding for the current restoration plans.
The Tru5Vs four trip boats remain an extremely popular means of prornoting the canal and over the year
volunteer5 Spent over 10,000 hour5 taking over 6,000 members of the public, many of whom had never seen
the canal before, onto the canal for celebr3tions and trips. Our popular trips with Santa enabled 1596 people
to speak to Santa and receive a present or festive drink.
The Trust has reopened an information centre and coffee shop at Tapton Lock which had been closed bv
Derbyshire County Councll due to finance and staffing problems.
Gifts, legacies and donations also continue to help us achieve our ambition of restoring the Chesterfield Canal.
We are extremely grateful for all the monies received from these sources.
SMH
Pale 6

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
ACHIEVEMENTS AND PERFORMANCE
continued
Vi51ting the canal because of Trust artivities
6,000 people had a trip on one of our boats along the length of the Chesterfield Canal
10,000 people visited our Information Centre at Hollingwood Hub and 9,000 people visited Katey's Coffee
Shop. (Estimates)
1000 people passed by and visited and the café and information centre at Tapton lock (during the 2 months
following our openingl.
TURE PLAN
We will continue to engage or employ expert help, to assist our Development Manager and Fundraising
Consultant succeed in grant applications for future restoration.
The Doe Lea Valley Environmental Framework will report in March 2026, and we will work with our partners
to use this to explore ways to fund restoration of the Puddlebank and construction of the aqueduct over the
river. The Trust will continue to explore other funding avenues Separately as well, although funding for this
type of work is difficult to secure and therefore the partnership and environmental focus is believed to be the
key to success. We will work with partner5, including Treligan, an environmental consultancygroupi to achieve
restoration of the canal and improvement in the environment around the Doe Lea Vally.
We will explore how the chariging canal environment around Chesterfield, Staveley and Hollingwood will
affect the Trust and will continue to be actively involved in ensuring planning for the changes is for the benefit
of the canal corridor and the people who use it.
We will seek funding from NLHF for a large community engagement project focussed on the canal's heritage
and the impacts of restoration and other development on the heritage value of the canal. This will build our
understanding of the heritsge and the communltles along the canal, and develop our relationship with the
NLHF. These are essential steps to potentially attracting large grants from NLHF for the physical restoration
works in the future.
SMH
Page 7

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
FINANCIAL REVIEW
Income for the year has reduced by £2,272,395 on 2024. Total income for the year is £1,019,267 compared
with £3,291,662 in 2024. The main reasons for this is due to the legacy of £1,275,000 received in 2024 and a
reduction of over £lm in grants largely due to a reduction in claims in the year from the 5taveley Towns Fund.
The Trust secured £5.83m grant through the Staveley Towns Fund Deal to support restoration of the canal in
Staveley, the work supported by the grant is due for completion in the summer of 2026.
Expenditure for the year has reduced by £836,012. Total expenditure for the year is £977,7141£306,221
revenue expenditure and £671,493 355ets under construction) compared with £1,813,725 in 2024. The
reduction in due to reduced expenditure incurred in progressing the Staveley Towns Fund Dea5 project
1£942,2321.
The net increase in fund5 was £713,04612024- £3,091,584).
The increase in unrestricted funds wa5 £16,726.
The increase in restricted funds was £696,320,. £671.000 of this is grant towards the cost of the
Staveley Towns Fund Canal Restoration prolect.
Decisions have made by the Trust that commit £1,713,200 of unrestricted funds that have yet to be incurred:_
The appointment of o Fundraiser post for 3 years1£70,0001.
o A commitment to core fund an element of the Staveley Towns Fund Deal1£123,2001. Thls had been
planned to be spent in 2021, but the flrst tranche of the Staveley Towns Fund was prioritised to be
used first.
o A further commitment of £750,000 towards delivery of the StaveleyTowns Fund project together with
the creation of a 'reserve" of £600,000 to manage the financial risk 3550ciated with delivering the
prolect
The Rewatering Renishaw project1£150,0001
The Trust had fund5 carried forward at 30 September 2025 of £5,731,521 12024: £5,018,475) of which
£3,302,448 12024.. £2,606,128) are restricted funds and £2,429,07312024.. £2,412,347) are unrestricted funds.
Reserves Policy
At the Trust Board meeting in August 2021 the Trustees approved a Rese￿e$ Policy which required a minimum
of £150,000 free reserves to be maintained to meet the financial risks faced by the Trust. Current free reserves
net of future commitments 15 £153,750. Reserve levels will be monitored to ensure they reMa￿n adequate to
cover anticipated future requirements. The policy will be reviewed annually to ensure it is fit for purpose.
Investment Policy
The Trust has significant reserves at the present in advance of commitment to fund the capital 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 indivldual investments in financial institutions operating within the Financial
Conduct Authoritvs remit.
SMH
Page 8

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIREcfoRS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
RISKS
MITIGATIONS
Failure to deliver the Towns Fund Project deliverables within
the required tirne5cales and financial envelope
Appointment of specialist adv150rs and
project management capacity
Appointment of a Project Board with the
necessary mix of skills and experience
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
Contracts are designed to reflect the risk
appetite of the Trust
Additional expert capacity 15 brought in
when required
Increased level of financial contingency
from Trust Funds
Public liability and Trustee Liability
insurance
Perceived negligence by the Trust or volunteers
Training of volunteer5
Risk assessments undertaken for all major
attivities
Accidents to visitors, volunteers and the publlc
Health and Safety policy for all volunteers
Monthly review of any incidents l accidents
Careful financial management
Failure of income stream5
Maintenance of adequate cash reserves
Spread funding across a number of different
financial institutions
Security of Investment Funds
Investments
institutions
restricted to accredited
At least 50% of funds on short term deposit
Sharing of knowledge and information
Robust management of key internal
documents
Loss of Employee I Contractor5
Identify capable successors
SMH
Pa8e 9

THE CHESTERFIELD CANAL TRUST
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
TRUSTEES RESPONSIBILITIES STATEMENT
The Trustees (who are also directors of The Chesterfield Canal Trust for the purposes of company lawl are
responsible for preparing the TrL+Stees' Annual Report and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare flnancial statements for each f￿nanCIal year. Under company law the
Trustees must not approve the firkancial statements unless they are satisfied that they give a true and fair view of the
state of affair5 of the charitable company and of the incoming resources and application of resourtes, including the
income and expenditure, of the charltable company for that period. In preparing these financial statements, the
Trustees are required to..
Select suitable accounting policies and then apply them consistently.
Observe the methods and principles in the Charities SORP 2019 IFRS 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 basis unless It is inappropriate to presume that the
charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any
time the financial posltlon of the charitable company and enable them to ensure that the flnanclal statements comply
with the Companles Act 2006. They are also responsible for safeguardlng the a55ets of the charitable company and
hence for takirbg reasonable steps for the prevention and detection of fraud and other irregularities
APPROVAL
Approved by the 8oard on
)l.S.t
and signed on their behalf by:
IIJL
Dr P G Hardy
Chair
SMH
Pa8e 10

THE CHESTERFIELD CANAL TRUST
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHESTERFIELD CANAL TRUST LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Opinion
We have audited the financial statement5 Of The Chesterfield Canal Trust Limited Ithe 'charitable company'l for the
vear ended 30 September 2025 whlch comprise the Statement of Flnancial Activitles, the Balance Sheet and notes to
the financial ststements, including a summary of significant actounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practicel.
In our opinion the financial statements:
Eive a true and fair view of the state of the charitable company's affoir5 a5 at 30 September 2025 and of its
incoming resources and application of resources, including it5 result, for the year then ended:
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirement5 of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law.
Our responsibilities under those standard5 are further described in the ALJditor5' 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 statement5 in the UK, including the FRC'5 Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relatlng to going concern
In auditing the financial statements, we have concluded that the tru5tees' use of the going concern basis of
accounting in the preparation of the financial statements 15 appropriate.
Based on the work we have performed, we have not identified any material uncertaintie5 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 with respect to going concern are described in the
relevant section5 of this report.
Other Information
The trustees are responsible for the other informatlon. The other information comprises the information included in
the Annual Report, other thon the financial statements and our Report of the Independent Auditor5 thereon.
Our opinion on the financial statements doe5 not cover the other information and, except to the extent otherwise
explicitly stated in our report, we do not expre55 any form of assurance conclusion thereon.
SMH
Pa8e 11

THE CHESTERFIELD CANAL TRUST
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHESTERFIELD CANAL TRUST LIMITED
FOR THE YEAR EIVDED 30 SEPTEMBER 2025
In connectlon wlth our audlt of the flnancial statements, our responslblllty15 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
incon515tencie5 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 15 a material misstatement of this other information, we are required to report that fart. We
have nothing to report in this regard.
Matters on which we are required to report by exceptlon
We have nothing to report in respect of the following matter5 where the Charities (Accounts and Reports)
Regulations 2008 require5 US to report to you if, in our opinion=
the information given in the Report of the Trustees is inconsistent in any material respect wlth the financlal
statements. or
the charitable company ha5 not kept adequate accounting records; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.
Re5pon5ibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the
charitable company for the purp05e5 of company lawl are responsible for the preparation 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 materlal mlsstatement, whether due
to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company'5 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 operation5, or
have no realistic alternative but to do so.
Our responslbllltles for the 4udit of the flnanclal statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statement5 as a whole are free from
material mlsstatement, whether due to fraud or error, and to Issue a Report of the Independent Auditors that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with ISAS IUKI will alway5 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 expected to influence the economic decisions of users taken on the basis of these financial statement5.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our assessment of the Susceptibility to material misstatement, whether by fraud or error, is made in a risk based
approach.
SMH
P38e 12

THE CHESTERFIELD CANAL TRUST
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF THE CHESTERFIELD CANAL TRUST LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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 consldered. The policie5 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 laws and regulations
throughout the audit.
Policies and controls relating to the risk of material misstatement as a result of fraud, management override of
controls, and revenue recognition5 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 searche5. Testing of income recognition and fund
accounting is also completed.
We have ensured that the engagement team have appropriate levels of competence and experience to effectivelv
monitor these risks and carry out work relevant to our assessment of each risk, including consideration of the sector
the charity operates in and it5 size and complexity.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uvauditorsresponsibilities. This description forms part of our Report of
the Independent Auditors.
Use of our report
This report is made 501ely to the charitable company's trustees, as a body, in accordance wlth 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 requlred 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 formèd.
James Sallm FCCA1Senior Statutory Auditor)
for and on behalf of SMH Group Audit
Statutory Auditors
5 Westbrook Court
Sharrow Vale Road
Sheffield
South Yorkshire
Sll 8YZ
Date..
SMH
Pa8e 13

THE CHESTERFIELD CANAL TRUST LIMITED
STATEMENT OF FINANCIAL AcllviTIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Note5
Unrestricted Restricted
Funds
Funds
Total
2025
Total
2024
Income from
Donations and legacies
Grants
Donations
Legacies
Membershlp Fees
Gift Aid
Total donatlons and legacles
1,190
16,755
1,000
25,809
4,203
48,957
686,422
40,227
687,612 1.775,307
56.982
60,464
1,000 1,275.000
25,809
20,752
10,394
5,481
781,797 3,137,004
6,191
732,840
Other tradlng actlvltles
Concerts / Events / Talks
Fund Raising
Sales
Property Rental
Total other trading artlvities
692
692
458
45,110
17,980
63,782
45,110
17,980
63,782
31,997
18,465
50,920
Sundry In¢ome
(31
2,896
36,340
39,236
1,616
Investment Income
53,559
53,559
23,627
Charltable artlvltles
Trip Boat Income
Hollingwood Hub
Total charitable Income
65,008
15,885
80,893
65.(M)8
15,885
80,893
63,432
15,063
78,495
Totsl Income
250,087
769,180
1,019,267 3,291,662
Expenditure on:
Charitable activities
Loss on Sale of asset
Cost of generating funds
Total Expenditure
203,397
72,860
276,257
175,967
29,964
233.361
29,964
306,221
24,111
200,078
72,860
Net Incomlng I (expenditure)
before other recogni5ed gains
16,726
696,320
713,046 3,091,584
Gains on revaluatlon of fixed assets
{iii
Net Movement In Funds
16,726
696,320
713,046 3,091,584
Total Funds brought forward
at l October 2024
2,412,347
2,606,128
5,018,475 1,926,891
Fund Balances carried forward
at 30 September 2025
2,429,073
3,302,448
5.731.521 5,018,475
The statement of financial activities complies wlth the requirements for an income and expenditure account under
Companies Act 2006 and Intludes all gains and losse5 in the year. All activities relate to continuing operations.
SMH
pa￿ 14

THE CHESTERFIELD CANAL TRUST LIMITED
BALANCE SHEET
ASA T 30 SEPTEMBER 2025
Notes
2025
2024
Fixed Assets
Tangible Assets
(61
3,510,838
2.851,696
Current Assets
Cash at Bank
Cash in Hand
Debtors & Prepayments
Stock
1,941,860
843
381,542
10,734
2,334,979
1.928,603
573
513,494
13,129
2,455,799
171
Credltors: Amount falllng due
wlthln one year
181
114,294
289,020
Net Current A55ets
Z,220,683
2,166,779
Credltors: Amount falllng due after one
year
Net A55ets
5,731,521
5,018,475
Accumulated Fund5
Revaluation Reserve
Unrestricted funds
Total unrestritted funds
Restricted funds
153,211
2,275,862
162,477
2.249,870
2.412,347
2,606,128
5,018,475
1121
Z,429,073
3,302,448
5,731,521
(12)
These flnancial statements have been prepared in accordance with the provision5 applicable to companies subject to
the small companies regime with Part 15 of the Companies Act 2006.
The financial statements were approved by the Board on
ILIsIz
and signed on their behalf bv
Dr P Hardv
Chair
r G Walker
Treasurer
Company registratlon number: 03403203
SMH
Page 15

THE CHESTERFIELD CANAL TRUST LIMITED
STATEMENT OF CASH FLOWS
ASA T30 SEPTEMBER 2025
Notes
2025
2024
Cash Ilows from operating expenses
Net cash provided by operating activlties
1151
651,815
2.889,203
Cashflows from Investing activitles
Dividends, Intere5t5 and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed 35setS
53,559
23,627
{691,847)
11,613.6471
Net cash provided by I (used Inl Investing artivlties
13,527
11,299,183)
Cashflows from flnan¢ing artlvities
Cash inflows from new borrowing
Repayments of borrowing
10.0001
Net cash used In flnanclng activities
iio,0001
Change In cash and cash equivalents In the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalent5 at the end of the year
13,527
1.929,176
1.942.703
1,289,183
639,993
1,929,176
1161
SMH
Pa£e L6

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Accountlng policles
(a) Charlty Informatlon
The Chesterfield Canal Trust Limited is a charitable company limited by gLtarantee incorporated in England
and Wales. The registered office is Hollingwood Hub, 22 Works Road, Hollingwood, Chesterfield, S43 2PF.
(b) Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised
at cost or transattion value unless otherwise stated in the relevant notes to these accounts. The financial
statements have been prepared in accordance with the Statement of 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 IFRS 1021 issued on 16 july 2014 las updated by Update
Bulletin 11 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland
(FR5 1021 and Charities Act 2011.
The charity constitutes a public benefit entity as defined 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 accountlng
Unrestricted funds are available for the use at the discretion 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 restrittions on their expenditure imposed by the donor or through
the terms of appeal.
Income
All income is included in the Statement of Financial Activities when the charity is entitled to the income,
the receipt is probable, and the amount can be quantified with reasonable accuracy. The following specific
policies are applied to particular categories of income..
Income received by the way of grants, donations 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 receivèble.
Income from charitable trading activity 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 subscription5 is included in the year of receipt.
SMH
Page 17

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Accounting policies- continued
le)
Expendlture
Expenditure 15 recogni5ed on an accrual basis as a liabilitvls incurred. The Trust voluntarily registered for
VAT in March 2020 therefore expenditure exclude5 all VAT which can be fully recovered, any
unrecoverable VAT is reported as B part of the expenditure to which it relates..
Costs of raising fund5 cornprise the costs associated with attracting voluntary income and the costs
of trading for fundraising purposes.
Charitable expenditure comprises those c05t5 incurred by the charity in the delivery of its activities
and services for beneficiaries. It includes both costs that can be allocated directly to such activities
and those costs of an indirect 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 accountanys fees and any costs linked to
the strategit management of the charity.
AII costs are allocated between the expenditure categorie5 of the Statement of Financial Activities on
a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated
directly.
ifj
Value Added Tax IVAn
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 classified as irrecoverable by HM Revenue5 & Customs.
Ig)
Tangible fixed assets and depreclatlon
Fixed assets purchased with a value of le5S than £1,000 are written off in full in the year of purchase.
Depreciation 15 provided on all tangible fixed asset5 at rate5 calculated to write off the cost on a straight-
line basis over their expected useful economic lives as follow5'.-
A55et Type
Rate
Asset Type
Trip Boats
5%
Furniture
Motor Vehicles
25%
Commercial Property
Plant & Equipment
10% / 25%
Residential Property
Computer Equiprnent
33.33%
Fixtures and Fittings
Office Equipment
25%
Rate
25%
io%
20%
Where assets are under construction no depreciatlon 15 provided until completion.
(h) Revaluatlon of fixed 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 conditions. The increase in value has been transferred to the Revaluation Reserve 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 a5 at 30 September 2022. The valuation was undertaken by
Norton Highfleld Ltd, Chartered Surveyor5. 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 yearsl.
Stock
Stock is included at the lower of c05t and net realisable value.
til
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliablv
by the Charity- this is normally upon notification of the interest paid or payable by the bank.
SMH
PaÉe 18

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
l. Accountlng policies- continued
Ik) 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 Wlth a short maturity of
three months or less from the date of acquisltion or opening of the deposit or similar account.
Im) Credltors and provlslons
Creditors and provisions are recogni5ed where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be me35ured or estimated reliably. Creditors and provisions are normally recognised at
their settlement amount after allowing for any trade discounts due.
(n) Flnanclal Instruments
The charity only has financial assets and financial liabilities 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.
{0) Crltlcal accountlng estlmates and areas of Sudgrnent
Estimates and jud8rnents are continually evaluated and are based on historlcal experlence and other
factors, including expectations of future events that are considered reasonable under the clrcumstances.
Critical accounting e5tirftates and assumption5',
The charity makes estimates and assumption5 concerning the future. The resulting accounting estimates
and assumptions wi11, 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 amounts of assets
and liabilities within the next financial year.
{pl Employee beneflts
When employees have rendered services to the charity, short-term employee benefits to which the
employee5 are entitled are recognised at the undiscounted amount expected to be paid in exchange for
the service.
Iq} Pension costs
The charity contributes to a defined contribution pension scheme and the pension charge represents the
mount payable to the scheme in respect of the year.
Land and Bulldlng Revaluatlon
Land and buildings acquired for the purpose of canal restoration will +Je professionally revalued every 5
years.
SMH
Page 19

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Prlor Year Statement of Financial Actlvltles
Notes
Unrestrirted
Funds
Restricted
Funds
Total
2024
Income from:
Donations and legacles
Grants
Donation5
Legacies
Membership Fees
Gift Aid
Total donatlons and legacies
4,841
11,684
1,275,000
20,752
3,000
1,315,277
1,770,466
48,780
1.775.307
60,464
1,275,000
20,752
5,481
3,137,004
2,481
1,821,727
Other trading artivltles
Concerts / Events / Talks
Fund Raising
Sales
Property Rental
Total other trading actlvltles
458
458
31,997
18,465
50,920
31,997
18,465
50,920
Sundry Income
(31
1,116
500
1,616
Investment I￿ornE
23.627
23.627
Charitable artlvltle5
Trip Boat Income
Hollingwood Hub
Totsl ¢haritsble income
63,432
15,063
78,495
63,432
15,063
78,495
Total Income
1,469,435
1,822,227
3,291,662
Expenditure on:
Charitable Activities
L05s on sale of asset
Cost of Generating Funds
Totsl Expenditure
141
15}
142,376
33,591
175,967
24,111
166,487
24,111
200,078
33,591
Net Incorne/lexpendtturel before other
recoEnised galns
1,302,948
1,788,636
3,091,584
Galns on revaluation of fixed asset5
Iiii
Net Movement in Funds
1,302,498
1,788,636
3,091,584
Total Fund5 brought forward at l October 2023
1,109.399
817,492
1,926,891
Fund Balances at 30 September 2024
2,412,347
1,606,128
5,018,475
There are no recognised gains and losses in the year other than the surplus for the year identified above as net
income.
SMH
Page 20

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TOTHE FINANCIAL STATEMENT5 ICONTINUEDI
FOR THE YEAR EAIDED 30 SEPTEMBER 2025
Sundry Income
Sundry income relates to contributions from partners toward5 the c05t of the Chesterfield Canal Masterplan
and training income.
Charitable Artivities
Unrestricted
Funds
Restricted
Funds
Total
2025
Total
2024
Advertising and Publicity
Alarm Maintenance & Monitoring
Bank I Paypal Charges
Catering
Cleaning
Contractlng Servlces
Depreciation
Donations Given
Electricity & Gas
Fixtures and fittings
Fuel & Oil
Governance
Health and 5afetv
Insurance
Interest Paid
Legal & Professional Fees
Licences
Materials
Miscellaneous Expenses
Mooring Fees
Postage & Stationery
PLFblicity Material & Signage
Rent & Rates
Repairs & Renewa15
Santa Expenses (Trip Boats)
Security Services
Surveys I Inspections / Planning Fees
Telephone
Tools and EqL4ipment
Training
Travelling Expenses
Waste Removal
Water
Website I Computer/Software
Wages/Salaries (Note 19J
22
150
5,363
5,330
403
2,967
22,755
464
5,607
22
150
5,363
5.330
403
10,661
32,705
464
5,607
65
1,206
5,299
4,195
325
3,367
32,599
io
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
4,064
19.231
1,214
171
1.776
206
I,ioi
911
88
397
849
2,394
25,198
175,967
7,694
9,950
4,329
8,950
869
13,241
4,329
8,950
869
13,241
29,257
2,337
2,088
651
5,845
7,455
9,181
5.269
8,839
55.200
84,457
2,337
2.088
666
5,845
7,455
9,181
5,269
8,839
15
730
25,911
431
2,773
1,384
411
1,073
1,238
1,602
26,472
203,397
730
25,911
431
1,773
1.384
411
1.073
1,238
1,602
26,472
276,256
72,859
SMH
Pa8e 21

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 SEpfEM8ER 2025
Raising funds
Unrestricted
Fund5
Restrlcted
Funds
Total
2025
Total
2024
Charitable Activitles
Festival
Cost of Sales
Fundraising Costs
14,858
15,106
29.964
14,858
15,106
29,964
6,901
17,210
24,111
Tanglble flxed assets
Boats
Dawn Rose
Motor
Plant and
Vehlcles Equlpment
Property
Assets
Under
Constiuctlon
Total
Cost
At10tt24
Additions
Disposa15
At 30 Sept 25
262,500
40,000
5,494
61,003
20,354
342,084
2,280,884 2,991,965
671,493
691,847
262,500
40,000
5,494
81,357
342,084
2,952,377 3,683,812
Depreciation
AtIOct24
Charge for year
Disposals
At 30 Sep 25
43.749
13,125
6,667
2,000
1,984
1,832
50,179
6,514
37,690
9,234
140,269
32,705
56,874
8,667
3,816
56,693
46,924
172,974
Net book value at
30 September 25
205.6Z6
31,333
1.678
24.664
295,160
2,95Z,377 3,510,838
Net book value at
30 September 24
218,751
33,333
3,510
10,824
304,394
2,280,884 2,851,696
Dawn Rose- New Build Wooden Working Boat:
This is included in fixed assets to reflect the ¢apitalisation of the construction cost5 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 a55et
values ond depreciation to the date of the valuation has been taken to the Revaluation reseNe and will be
released to the income and expenditure account over the remaining estimoted life of the boats120 year51.
Revaluatlon of Property
The commercial properties at 2411243 Sheffield Rd were revalued for the accounts at 30 September 2022. The
valuation was undertaken by Norton Mighfield 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
Page 22

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Tanglble flxed assets Icontlnued)
A55ets Under Constructlon
The Trust has been successful in securing £5.83m from the Staveley Towns Fund Deal ladministered bv
Chesterfield Borough Council) to 5UPPOrt work to restore a section of the Canal. The construction work include5
restoring a section of 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 June 2026.
Debtors
2025
2024
Trade Debtors
Other debtors and prepayments
VAT
Tenant deposit scheme
Other deposits
295,559
52,615
923
32.445
381,542
333,662
92,977
923
85,932
513,494
Creditors: amounts falllng due within one year
2025
2024
Trade creditors
Loan
Other creditors and accruals
Tenant Dep051t
105,371
268,790
10,000
9,307
923
289,020
8,000
923
114,294
Credltors: amounts falllng due after one year
2025
2024
Charge attached to 243 Sheffield Rd.
Killamarsh
10. Taxation
As a tharity, The Chesterfield Canal Trust Limited is exempt from tax on income and gains falling within the
available tax exemptions to the extent that these are applied to its charitable objects. No tax charges have
arisen in the charity.
11. Revaluation Reserve
Z025
2024
Opening Balance
Revaluation Uplift In year
Applied in year
Balance carried forward
162,477
171,742
19,2661
153,211
19,2651
162,477
SMH
Pa£e 23

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
12. Funds
Current Year
Balance
01.10.24
Income
Expendlture
Tr3n5fer
Between
Funds
Balance
30.09.25
Unrestrlcted
General
2,412,347
250,087
233,361
2,429,073
Restrlcted
Staveley Towns Fund Project
2027 Appeal
CIL FundinB
Keith Ayling Lock Appeal
Hugh Hen5hall Trip Boat
Python Historic Boat Refurbishment
John Varley Trip Boat 1st Stage Payment
Dawn Rose
Canal Feasiblllty Study
Chesterfield Canal Partnership
Last Cuckoo Projert
2,232,406
90,222
196,318
21,973
27,075
11,797
6,527
671,493
51,314
2,903,899
125,823
196,318
29.516
23,525
12,057
2,527
4,830
15,713
7,543
3,550
2,400
2,660
4,830
31,340
5,000
13,310
1.500
2.606,128
36,340
10,857
2,453
1,500
3,302,448
769,180
72,860
Total Funds
5.018,475 1,019,267
306,221
5,731.521
Prior Year
Balance
01.10.23
Income
Expendlture
Transter
Between
Funds
Balance
30.09.24
Unrestrirted
General
1,109,399 1,469,435
166,487
2,412,347
Restricted
Hugh Henshall Trip Boat
Staveley Towns Fund Project
Python Historic Boat Refurbishment
John Varley Trlp Boat 1st Stage Payment
Work Party Equipment
Last Cuckoo Project
Walking Festival
Canal Fe35ibility 5tudv
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
2,232,406
11,797
6,527
150,0001
2,400
4,000
1.746
1,500
12,2711
20,000
68
5,000
13,310
90,222
196,318
21,973
40,289
146,318
21,973
444
50,000
1,827
33,591
1,827
817.492 1,822,227
2,606,128
Total Funds
1,926,891 3,291,662
200,078
5,018,475
SMH
Pa8e 24

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The purpose of the restricted funds are as follows:
Stavelvi Towns Fund - The Trust has been awarded a grant to deliver restoration of a section of the canal at
Staveley through the Government's Towns Fund Grant Scheme.
2027 Appeal - Fund to complete the Canal's Restoration.
CIL fundlng-The Trust has successfully applied to Chesterfield Borough Council for Community Infrastructure
Levy funding to 5UPPOrt the development of the Canal.
Keith Ayling Lo¢k Appeal- An appeal was launched in 2024 to help finance the building of a new lock on the
canal.
Hugh Henshall Trip Boat- A project to build an accessible trip boat supported by the Big Lottery Fund.
Python Hlstorlc Boat Refurblshment - Historic boat used to promote the Chesterfield Canal at various local
and national events and to a5515t with volunteer maintenance work on the Chesterfield Canal.
John Varley Trlp Boat- Replacement of old trip boat with a new boat.
Dawn R05e- Refurbishment of wooden working boat of a type used to carry cargoes on the Chesterfield Canal.
Canal Feaslbility Study- The Trust is co-ordinating a project with partners to undertake a strategic review of
the feasibility of restoring Chesterfield Canal to full navigation.
Chesterfield Canal Partnership-The Trust is the administering body for the partnership of organisations with
the objettive of restoring Chesterfield Canal to full navigation.
Last Cuckoo Project - Archaeologieal dig at Bellhouse Basin on the Chesterfield Canal.
Walking Festival - An annual event Started in 2018.
Work Party Equipment- Purchase of equipment for use in restoring the Chesterfield Canal.
Reni5haw Prolect - The Trust 15 to lead on the Rewatering Renishaw project supported by external grant
funding to redevelop a stretch of the canal.
13. Analy515 of net assets between funds
2025
Restricted
Funds
2024
Unre5trirted Restrlcted
Funds
Funds
Unrestrlcted
Funds
Totsl
Total
Tangible fixed assets
Current Assets
Current Liabilitie5
Long Term Liabilities
788.072
1,660,782
119,779}
2,722,766 3,510,838
674,197 2,334,979
194,5151 1114.294)
573,891 2,277,805 2,851,696
1,858,687
597,112 2,455,799
120.2311 1268,7891 1289,0201
2.429,073
3,302,448 5,731,521
2,412,347 2,606,128 5,a18,475
SMH
Page 25

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
14. Capltal commltmentS
Capital commitments authorised but not contracted at 30 September 2025 totalled Nil12024: £nill.
15. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles
2025
2024
Net Income for the year las per Statement of Financlal Artivitles)
713,047
3,091,584
Adjustments for:_
Depreciation charges
Dividends, interests and rents from investments
Ilncrea5el / decrease in stocks
Ilncreasel I decrease in debtors
Increase / Idecreasel in creditors
Net cash from operating activities
32,705
153,5591
2,395
131,952
(174,7251
651,815
32,599
123,6271
13,2311
1334,3491
126,227
2,889,203
16. Analysls of cash and tash equivalents
2025
2024
Cash at Bank
Cash in Hand
Total ¢ash and cash equivalents
1,941,860
843
1,942,703
1,928,603
573
1,929,176
17. Analysis of changes in debt
Asatlort
2024
Cashflows
At 30 Sep
2025
Cash at Bank and in Hand
Debt due within I year
Debt due ofter l year
1,929,176
{io,000)
13,527
10,000
1,942,703
1,919,176
23,527
1,942,703
18. Transactions with trustees and related party transactlons
No trustees received any remuneration in the year. Their travelling and other expenses are reimbursed in
respert of expenses incurred on the chariVs busine55. In the year ended 30 September 2025 there were no
such payment5 paid to Tru5tees12024.. £nill.
There are no other related party transactions in the year12024: none)
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Page 26

THE CHESTERFIELD CANAL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 30 SEPTEMBER 2025
19. stsff Costs
2025
2024
Wages and Salaries
Social Security Cost5
Employer's pension costs
Less capitalised staff costs
51.621
48,756
1,315
124.4641
28,472
1,182
124,7401
25,198
The average number of persons employed by the Trust during the year was 112024: 11
No employee received remuneration amounting to more than £60,000 in either year.
20.
Audit and Independent Examiner< remuneratlon
2025
2024
Independent Examination
Audit Fees
Other services
8,950
6,000
8,950
6,000
zi.
Contlngent liabilities
The Trust ha5 entered into a 5278 agreement with Derbyshlre County Councll IDCCI to provide a financial
security for works to create a new highway entrance off Ireland C105e, Staveley. The deposit is repayable in
two parts; 60% wa5 repaid In 2024125 on completion of the work5. The balance of 40% is due upon adoptlon
of the highway by DCC Idue in FY251261.
SMH
Pa8e 27