Charity registration number 1075844
Company registration number 3748419 (England and Wales)
STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
LEGAL AND ADMINISTRATIVE INFORMATION
| Members | S Woodgate | |
|---|---|---|
| I Watson | ||
| D Bluff | ||
| J Sheridan | ||
| L Smart | ||
| P Allerton | ||
| D Gordon | ||
| J F Dineen | (Appointed 1 January 2021) | |
| Charity number | 1075844 | |
| Company number | 3748419 | |
| Registered office | 4 Beacon View | |
| Marple | ||
| Stockport | ||
| Cheshire | ||
| SK6 6PX | ||
| Independent examiner | John Royle | |
| 18 Heaton Gardens | ||
| 25 Heaton Moor Road | ||
| Heaton Moor | ||
| Stockport | ||
| SK4 4LT |
STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
CONTENTS
| Page | |
|---|---|
| Members' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 11 |
STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021
The Members present their report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The trust's main object as per the Memorandum of Association is:-
"The relief of disabled persons by the provision of facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving their conditions of life."
During the year the members reviewed the mission statement for the Charity to:
In 2017 Members reviewed the mission statement for the Charity to: SCBT exists to provide a safe, economical, enjoyable, and sustainable countryside canal experience for individuals, or groups of people, with disabilities, their carers, families and friends on the specially adapted narrowboat "New Horizons".
The Members have paid due regard to guidance issued by the Charity Commission in deciding what activities the
trust should undertake.
During the financial year under review, in order to fulfil this objective, the Trust has provided short excursions in its specially adapted narrow boat along the Macclesfield and Peak Forest Canals for people with special needs or disabilities.
Achievements and performance
| 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|
| Half DayTrips | 216 | 116 | 161 | 146 | 135 | 152 | 120 | 126 |
| Full Day Trips |
59 | 8 | 54 | 74 | 68 | 65 | 63 | 53 |
| Total Trips | 275 | 122 | 215 | 220 | 203 | 217 | 183 | 179 |
| Capacity Booked | 54% | 84% (27%) |
76% | 68.1% | 69% | N/A | N/A | N/A |
| Total Number of Passengers |
N/A |
2,302 | 2302 | 2,187 | 2,247 | 2551 | 2339 | 2045 |
During the financial year under review the boat had a limited season because of the COVID 19 pandemic. Although the cruising season started on the 29th March group sizes were reduced in line with the Government Road Map to Recovery therefore it is not meaningful to compare passengers carried or capacity with previous years.
However the figures show that whilst operating at reduced capacity, initially a maximum of 6 people, and charging a reduced fee, £10 discount on all trips, the boat was well used.
The Members are grateful to the volunteer skippers and crew who worked in difficult conditions to keep the boat operational. During the year it remained evident that wear and tear was affecting certain parts of the boat. The Members have noted this and planned remediation into future schedules.
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Financial review
Reserves policy
It is the intention of the Members to utilise any reserves to ensure that the Charity can continue to operate in the foreseeable future. Sufficient reserves are maintained to fund the day to day running of the charity for up to six months and to ensure that funds are available to repair and renovate the boat when necessary. The Trust's banking arrangements continue to be reviewed by utilising technological solutions, aiming to increase income from the internet.
The Members have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The trust is a company limited by guarantee.
The Members, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
S Woodgate
I Watson D Bluff J Sheridan L Smart P Allerton D Gordon J F Dineen (Appointed 1 January 2021)
The Charity Trustees are appointed by the existing Trustees.
None of the Members has any beneficial interest in the company. All of the Members are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trust is a company limited by guarantee not having a share capital. The Memorandum and Articles of Association are its governing document. The charitable company was incorporated on 8 April 1999. The Trust is a registered charity.
The Members' report was approved by the Board of Members.
S Woodgate
Member Dated: 20 July 2022
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
INDEPENDENT EXAMINER'S REPORT
TO THE MEMBERS OF STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
I report to the Members on my examination of the financial statements of Stockport Canal Boat Trust for Disabled People (the trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the Members of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the trust 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 the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's 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 trust as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
4 the financial statements 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 financial statements to be reached.
John Royle
18 Heaton Gardens 25 Heaton Moor Road Heaton Moor Stockport SK4 4LT
Dated: 21 July 2022
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted Unrestricted funds funds 2021 2020 Notes £ £ |
Unrestricted Unrestricted funds funds 2021 2020 Notes £ £ |
Unrestricted Unrestricted funds funds 2021 2020 Notes £ £ |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Income from: | ||
| Donations and legacies 3 |
18,232 | 10,484 |
| Charitable activities 4 |
20,922 | 9,562 |
| Investments 5 |
3 | 84 |
| Total income | 39,157 | 20,130 |
| Expenditure on: | ||
| Raising funds 6 |
3,179 | 760 |
| Charitable activities 7 |
24,632 | 16,474 |
| Total expenditure | 27,811 | 17,234 |
| Net income for the year/ | ||
| Net movement in funds | 11,346 | 2,896 |
| Fund balances at 1 January 2021 | 64,793 | 61,897 |
| Fund balances at 31 December 2021 | 76,139 | 64,793 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
BALANCE SHEET
AS AT 31 DECEMBER 2021
| Notes | 2021 | 2020 | ||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Fixed assets | ||||
| Tangible assets 10 Current assets |
28 76,032 76,060 - |
79 76,060 76,139 76,139 76,139 |
- 69,440 69,440 (4,740) |
93 |
| Debtors 11 |
||||
| Cash at bank and in hand Creditors: amounts falling due within one year 12 |
||||
| Net current assets | 64,700 | |||
| Total assets less current liabilities | ||||
| 64,793 | ||||
| Income funds | ||||
| Unrestricted funds | 64,793 | |||
| 64,793 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Members on 20 July 2022
| S Woodgate | I Watson |
|---|---|
| Trustee | Trustee |
Company registration number 3748419
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
Stockport Canal Boat Trust for Disabled People is a private company limited by guarantee incorporated in England and Wales. The registered office is 4 Beacon View, Marple, Stockport, Cheshire, SK6 6PX.
1.1 Accounting convention
The financial statements have been prepared in accordance with the trust's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1
not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Members have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Members continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Members in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
1.4 Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery 15% on wdv
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the trust’s accounting policies, the Members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 18,232 | 10,484 |
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
4 Charitable activities
| Boat trips Activities for generating funds 2021 2021 £ £ Sales within charitable activities 16,377 4,545 |
Boat trips Activities for generating funds 2021 2021 £ £ Sales within charitable activities 16,377 4,545 |
Boat trips Activities for generating funds 2021 2021 £ £ Sales within charitable activities 16,377 4,545 |
Total 2021 Boat trips Activities for generating funds 2020 2020 |
Total 2021 Boat trips Activities for generating funds 2020 2020 |
Total 2021 Boat trips Activities for generating funds 2020 2020 |
Total 2020 |
|
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| £ | £ | £ | £ | £ | £ | ||
| 16,377 | 4,545 | 20,922 | 9,122 | 440 | 9,562 | ||
| 5 | Investments | ||||||
| Unrestricted Unrestricted funds funds 2021 2020 £ £ |
|||||||
| funds | funds | ||||||
| 2021 | 2020 | ||||||
| £ | £ | ||||||
| Interest receivable | 3 | 84 | |||||
| 6 | Raising funds | ||||||
| Unrestricted Unrestricted funds funds 2021 2020 £ £ |
|||||||
| funds | funds | ||||||
| 2021 | 2020 | ||||||
| £ | £ | ||||||
| Fundraising and publicity | |||||||
| Staging fundraising events | 3,179 | 760 | |||||
| 3,179 | 760 |
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
7 Charitable activities
| Boat trips Boat trips 2021 2020 £ £ |
Boat trips Boat trips 2021 2020 £ £ |
Boat trips Boat trips 2021 2020 £ £ |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Staff costs | 12,274 | 10,721 |
| Depreciation and impairment | 14 | 17 |
| Boat trips | 12,344 | 5,736 |
| 24,632 | 16,474 | |
| 24,632 | 16,474 |
8 Members
None of the Members (or any persons connected with them) received any remuneration or benefits from the trust during the year.
9 Employees
The average monthly number of employees during the year was:
| 2021 2020 Number Number 1 1 |
2021 2020 Number Number 1 1 |
2021 2020 Number Number 1 1 |
|---|---|---|
| 1 | 1 | |
| Employment costs | 2021 | 2020 |
| £ | £ | |
| Wages and salaries | 12,274 | 10,721 |
There were no employees whose annual remuneration was more than £60,000.
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 10 Tangible fixed assets |
||
|---|---|---|
| Cost At 1 January 2021 At 31 December 2021 Depreciation and impairment At 1 January 2021 Depreciation charged in the year At 31 December 2021 Carrying amount At 31 December 2021 At 31 December 2020 11 Debtors Amounts falling due within one year: Other debtors 12 Creditors: amounts falling due within one year |
Plant and machinery | |
| £ | ||
| 37,944 | ||
| 37,944 | ||
| 37,851 | ||
| 14 | ||
| 37,865 | ||
| 79 | ||
| 93 | ||
| 2021 | 2020 | |
| £ | £ | |
| 28 | - | |
| Accruals and deferred income | 2021 | 2020 |
| £ | £ | |
| - | 4,740 |
13 Retirement benefit schemes
The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.
14 Related party transactions
There were no disclosable related party transactions during the year (2020 - none).
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