**Charity number: 1072335** **Company number: 03472165** **(England and Wales)** ## **Canals in Hackney Users Group** **Report of the Trustees and Unaudited Financial Statements** **For the year ended 30 November 2021** ## **Canals in Hackney Users Group Contents Page For the year ended 30 November 2021** |Report of the Trustees|1 to 3| |---|---| |Independent Examiner's Report to the Trustees|4| |Statement of Financial Activities|5| |Statement of Financial Position|6| |Notes to the Financial Statements|7 to 11| ## **Canals in Hackney Users Group Report of the Trustees** ## **For the year ended 30 November 2021** The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 30 November 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** To educate the public about inland waterways and in particular to encourage and promote the use of the canal for the benefit of the people of Hackney and the surrounding communities. To provide in the interests of social welfare facilities for recreation and other leisure time opportunities for the people of Hackney and surrounding communities; being facilities of which those persons have need by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances; to improve the conditions of life for such persons by promoting their physical, mental and spiritual well-being. The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Significant activities** Activities Activities carried out in this financial period include the following: Due to the Covid-19 pandemic we have not been able to carry out our usual activities as they all involve public participation, except the following which we do ourselves. Clear up days - to remove rubbish from the Basin and the surrounding towpath. ## Plans for Future Periods We will continue with our ongoing projects and will also participate in the setting up of a Community Garden on the towpath as part of a Sky Way funding initiative for the Regent's Canal. ## **FINANCIAL REVIEW** ## **Reserves** The reserves policy is that at least 6 months expenditure to be retained as reserves at all times. In this financial period the reserves were comfortably above this level. ## **Going concern** The trustees are satisfied that the charity will continue to be a going concern for the foreseeable future. ## Risk Assessment The trustees have looked at the risks and are satisfied that steps have been taken to mitigate them. 1 of 11 **Canals in Hackney Users Group Report of the Trustees Continued For the year ended 30 November 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** ## Constitution The Charity's governing documents are its Memorancdum and Articles of Associsation. There are six trustees as listed below. The Charity's constitution is based on the following principles: Collective decision making. There is no leader, all decisions affecting the basin are made collectively at meetings. We aim for consensus in our decision making but rely on majority democratic votes if there is no consensus. This form of decision making can be slow and cumbersome but it upholds the values of the community that everyone has an equal say. This system requires that all members are to respect the decision making process and the decisions that are made whether they are in agreement or not. Tasks, roles and responsibilities are shared out in order to sustain the community. All members of the community are required to contribute their time and energy free of charge to sustain the community. ## Governance and management Decisions are made collectively and by majority at meetings. Diary dates for meetings are made collectively at each AGM in January for the ensuing year. Members are required to attend at least 4 meetings per year. In addition to the scheduled meetings any member can call an extraordinary meeting at any time. If a member wishes to call an extraordinary meeting, at least two weeks notice is required. All members can put forward any agenda item they wish for a meeting. The agenda is circulated two weeks before the meeting. Any member can add an agenda item at the start of a meeting, although some items require at least two weeks notice e.g. new pet, grievance, sub let request. Quorum level is 6 people. If no consensus is reached majority voting is used to reach a decision. Votes are only counted from those present at the meeting. There are no proxy votes either by mail or email. Minutes of the meeting are circulated to members within two weeks of the date of the meeting. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** Canals in Hackney Users Group **Charity registration number** 1072335 **Company registration number** 03472165 **Principal address** 11 Allen Road London N16 8SB ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: ## **Independent examiner** Maria Gandy James Hewson Darren Coulson Damian Hall Richard Metson Tim Storey Andrew M Wells FMAAT Counterculture Partnership LLP 99 Western Road Lewes East Sussex BN7 1RS 2 of 11 ## **Canals in Hackney Users Group Report of the Trustees Continued For the year ended 30 November 2021** Approved by the Board of Trustees and signed on its behalf by ............................................................................. Maria Gandy 23 August 2022 3 of 11 ## **Canals in Hackney Users Group Independent Examiners Report to the Trustees For the year ended 30 November 2021** I report to the trustees on my examination of the accounts of the charitable company for the year ended 30 November 2021. ## **Responsibilities and basis of report** As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiners statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Andrew M Wells FMAAT Counterculture Partnership LLP 99 Western Road Lewes East Sussex BN7 1RS 23 August 2022 4 of 11 ## **Canals in Hackney Users Group** ## **Statement of Financial Activities (including Income and Expenditure Account) For the year ended 30 November 2021** |**Notes**
**Income and endowments from:**
Donations and legacies
2
Other trading activites
3
Investments
4
**Total**
**Expenditure on:**
Raising funds
5
Charitable activities
6/7
**Total**
**Net expenditure**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
29,359
-
2
**29,361**
-
(36,542)
**(36,542)**
**(7,181)**
72,967
**65,786**|**2020**
**£**
24,531
28
61| |---|---|---| |||**24,620**| |||(132)
(50,436)| |||**(50,568)**| |||**(25,948)**
98,915| |||**72,967**| 5 of 11 03472165 Registered Number : ## **Canals in Hackney Users Group Statement of Financial Position As at 30 November 2021** ||**Notes**|**2021**|**2020**| |---|---|---|---| |||**£**|**£**| |**Current assets**|||| |Debtors|12|4,710|829| |Cash at bank and in hand||61,496|72,558| |||**66,206**|**73,387**| |**Creditors: amounts falling due within one year**|13|(420)|(420)| |**Net current assets**||**65,786**|**72,967**| |**Total assets less current liabilities**||**65,786**|**72,967**| |**Net assets**||**65,786**|**72,967**| |**The funds of the charity**|||| |Unrestricted income funds|14|65,786|72,967| |**Total funds**||**65,786**|**72,967**| For the year ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. - The members have not required the company to obtain an audit of its accounts for the year in question in accordance - with section 476, - The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting - records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Maria Gandy Trustee 23 August 2022 6 of 11 **Canals in Hackney Users Group Notes to the Financial Statements For the year ended 30 November 2021** ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. Canals in Hackney Users Group meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Going concern** The financial statements are prepared, on a going concern basis, under the historical cost convention. ## **Funds** The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes. Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them. There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above ## **Incoming resources** All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. ## **Resources expended** Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure. Expenditure is classified under the following activity headings: Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs Other expenditure represents those items not falling into any other heading ## **Allocation and appointment of costs** Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs may include any back office costs, finance, personnel, payroll and governance costs which support the charities programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities where applicable. The bases on which support costs have been allocated are set out in the notes to the accounts. ## **Taxation** As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities. ## **Irrecoverable VAT** Irrecoverable VAT is included in the Statement of Financial Activities, and is reported as part of the expenditure to which it relates. 7 of 11 ## **Canals in Hackney Users Group Notes to the Financial Statements Continued For the year ended 30 November 2021** ## **2. Income from donations and legacies** ||**2021**|**2020**| |---|---|---| ||**£**|**£**| |**Unrestricted funds**||| |Donations received|29,249|24,531| |Subscriptions received|110|-| ||**29,359**|**24,531**| |**ncome earned from other activities**||| ||**2021**|**2020**| ||**£**|**£**| |Fund raising events|-|28| ||**-**|**28**| |**nvestment income**||| ||**2021**|**2020**| ||**£**|**£**| |**Unrestricted funds**||| |Bank interest receivable|2|61| ||**2**|**61**| |**xpenditure on other trading activities**||| ||**2021**|**2020**| ||**£**|**£**| |Fund raising events|-|132| ||**-**|**132**| |**osts of charitable activities by fund type**||| ||**2021**|**2020**| ||**£**|**£**| |**Unrestricted funds**||| |Encouraging use of canal|2,200|15,150| |Support costs|34,342|35,286| ||**36,542**|**50,436**| ## **3. Income earned from other activities** ## **4. Investment income** ## **5. Expenditure on other trading activities** ## **6. Costs of charitable activities by fund type** 8 of 11 ## **Canals in Hackney Users Group Notes to the Financial Statements Continued For the year ended 30 November 2021** ## **7. Costs of charitable activities by activity type** ||**Activities**|**Support**|**2021**|**2020**| |---|---|---|---|---| ||**undertaken**|**costs**||| ||**directly**|||| ||**£**|**£**|**£**|**£**| |**Support costs**||||| |Encouraging use of canal|2,200|34,342|36,542|50,436| |**8. Analysis of support costs**||||| ||||**2021**|**2020**| ||||**£**|**£**| |**Encouraging use of canal**||||| |Management|||33,922|33,538| |Governance costs|||420|1,748| ||||**34,342**|**35,286**| |**9. Net income/(expenditure) for the year**||||| |This is stated after charging/(crediting):||||| ||||**2021**|**2020**| ||||**£**|**£**| |Accountancy fees|||420|420| |**10. Particulars of employees**||||| ||||**2021**|**2020**| |Directors|||6|5| ||||**6**|**5**| ## **11. Comparative for the Statement of Financial Activities** The comparative year values on the Statement of Financial Activites are for unrestricted funds. 9 of 11 ## **Canals in Hackney Users Group Notes to the Financial Statements Continued For the year ended 30 November 2021** ## **12. Debtors** |**Amounts due within one year:**
Prepayments and accrued income
**13. Creditors: amounts falling due within one year**
Accruals and deferred income
**14. Movement in funds**
**Unrestricted Funds**
_General_
General
**Unrestricted Funds - Previous year**
_General_
General
**15. Analysis of net assets between funds**
**Unrestricted funds**
_General_
General|**Balance at**
**01/12/2020**
**£**
72,967
**72,967**
**Balance at**
**01/12/2019**
**£**
98,915
**98,915**|**Incoming**
**resources**
**£**
29,361
**29,361**
**Incoming**
**resources**
**£**
24,620
**24,620**||**2021**
**2020**
**£**
**£**
4,710
829
**4,710**
**829**
**2021**
**2020**
**£**
**£**
420
420
**420**
**420**
**Outgoing**
**resources**
**Balance at**
**30/11/2021**
**£**
**£**
(36,542)
65,786
**(36,542)**
**65,786**
**Outgoing**
**resources**
**Balance at**
**30/11/2020**
**£**
**£**
(50,568)
72,967
**(50,568)**
**72,967**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
65,786
65,786|**2020**
**£**
829| |---|---|---|---|---|---| ||||||**829**| ||||||**2020**
**£**
420| ||||||**420**| ||||||**Balance at**
**30/11/2021**
**£**
65,786| ||||||**65,786**| ||||||**Balance at**
**30/11/2020**
**£**
72,967| ||||||**72,967**| ||||||| |||||**65,786**
**65,786**|| 10 of 11 ## **Canals in Hackney Users Group Notes to the Financial Statements Continued For the year ended 30 November 2021** |**Previous year**
**Unrestricted funds**
_General_
General|**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
72,967
72,967| |---|---| ||**72,967**
**72,967**| ## **16. Company limited by guarantee** Canals in Hackney Users Group is a company limited by guarantee and accordingly does not have a share capital. 11 of 11