Charity registration number 1075844 (England and Wales) Company registration number 3748419
STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
LEGAL AND ADMINISTRATIVE INFORMATION
| Members | S Woodgate |
|---|---|
| I Watson | |
| D Bluff | |
| L Smart | |
| P Allerton | |
| D Gordon | |
| J F Dineen | |
| T J Braide | |
| G Rosenbrock | |
| Charity number (England and Wales) | 1075844 |
| Company number | 3748419 |
| Registered office | 6 Waterford Avenue |
| Romiley | |
| Stockport | |
| Cheshire | |
| SK6 4HL | |
| 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 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024
The Members present their report and financial statements for the year ended 31 December 2024.
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."
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
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
| Half DayTrips | 183 | 199 | 194 | 216 | 116 | 161 | 146 | 135 |
| Full Day Trips |
89 | 45 | 55 | 59 | 8 | 54 | 74 | 68 |
| Total Trips | 272 | 244 | 249 | 275 | 124 | 215 | 220 | 203 |
| Capacity Booked | 79% | 62.2% | 75.5% | 54% | 84% (27%) |
76% | 68.1% | 69% |
| Total Number of Passengers |
N/A |
N/A | N/A | 2,302 | 2,187 | 2,247 | 2,551 | 2,339 |
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The trip capacity used reflects actions taken to mitigate the unexpected loss of the skipper and to cease to take any evening bookings after 29th June 2024.
During the financial year under review the boat had a slightly reduced season which was punctuated with significant challenges relating to the work which was done in the close season 2023-4 and the redevelopment of the wharf area in Marple. The season began on the 29th April 2024 and ended on the 15th October 2024. Whilst dealing with a number of challenges including the unexpected immediate resignation of the skipper on the 29th June 2024, we had a very positive season with volunteer skippers stepping up to cover the gap left in both crewing and maintenance duties until our new skipper started on the 15th September 2024. We were pleased to see many of our regular users return and booking levels reflected this throughout the year.
The Trustees are grateful to the skipper, volunteer skippers and crew who worked in difficult conditions to keep the boat operational and wish the new skipper who started her new role in September 2024 success in the future.
On the 18th March 2024 New Horizons returned from having expensive work completed at Debdale Marina. The boat had been lifted by crane and transported by road to Debdale Marina in Leicestershire for the work to be done. The work included sandblasting and zinc coating the hull, the rebuilding of the superstructure at the rear of the cabin, replacing all windows and a full back to metal repaint of the cabin with commercial standard epoxy resin. New Horizons was then transported to Bollington and craned back into the canal. There were some snagging issues which needed to be resolved prior to starting cruising and delayed the usual start to the season. The transportation costs and the extensive restoration work required to give the boat a new lease of life explains the significant ‘losses’ reported in these accounts.
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 the boat when necessary. The Trust's financial arrangements allow donations and trip payments to be made by both direct and indirect payment means and use multiple trustee authorisation of outgoing payments to protect and secure all funds.
The Members have assessed the major risks to which the trust is exposed and are satisfied that mitigating systems are in place.
Structure, governance and management
Stockport Canal Boat 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 L Smart P Allerton D Gordon J F Dineen T J Braide G Rosenbrock
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
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. Two members of the Trustees are related to each other.
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.
It must be noted that at the time of writing major expenditure has been needed to address the wear and tear on the boat. The Trustees are demonstrating high levels of oversight given the challenges this is creating on income and funding streams. Management oversight is being applied to expenditure. The integrity and quality of the work done to maintain the highest standard of operational quality available has been ratified by the positive hull survey done towards the end of 2024 where the Trustees were commended by the longstanding marine surveyor for the way in which they had dealt with the challenges of electrolytic pitting and the work which they had commissioned.
Members are grateful to the many benefactors for their ongoing support of New Horizons.
The Members' report was approved by the Board of Members.
S Woodgate
Member Dated: 23 August 2025
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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 2024.
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.
Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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:
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1 accounting records were not kept in respect of the trust as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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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 financial statements 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 23 August 2025
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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 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 24,383 | 47,896 |
| Charitable activities | 4 | 30,277 | 27,531 |
| Investments | 5 | 1,325 | 2,124 |
| Total income | 55,985 | 77,551 | |
| Expenditure on: | |||
| Raising funds | 6 | 4,155 | 3,679 |
| Charitable activities | 7 | 115,176 | 47,386 |
| Total expenditure | 119,331 | 51,065 | |
| Net income/(expenditure) and movement in funds | (63,346) | 26,486 | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2024 | 109,280 | 82,794 | |
| Fund balances at 31 December 2024 | 45,934 | 109,280 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Fixed assets Tangible assets 12 Current assets Cash at bank and in hand Net current assets Total assets less current liabilities The funds of the trust Unrestricted funds 13 |
2024 £ 45,886 |
£ 48 45,886 45,934 45,934 45,934 |
2023 £ 109,223 |
£ 57 109,223 |
|---|---|---|---|---|
| 109,280 | ||||
| 109,280 | ||||
| 109,280 |
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 2024.
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 23 August 2025
S Woodgate I Watson Member Member
Company registration number 3748419 (England and Wales)
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 6 Waterford Avenue, Romiley, Stockport, Cheshire, SK6 4HL.
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 or grantors 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 2024
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.
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.
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.
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
1.9 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 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 24,383 | 47,896 |
4 Income from charitable activities
| Boat tripsActivities for generating funds 2024 2024 £ £ Sale of goods 23,852 6,425 Analysis by fund Unrestricted funds 23,852 6,425 |
Total Boat tripsActivities for generating funds 2024 2023 2023 £ £ £ 30,277 24,751 2,780 30,277 24,751 2,780 |
Total 2023 £ 27,531 |
|---|---|---|
| 27,531 |
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
5 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 1,325 | 2,124 |
6 Expenditure on raising funds
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Staging fundraising events | 4,155 | 3,679 | |
| 7 | Expenditure on charitable activities | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 18,975 | 21,680 | |
| Depreciation and impairment | 9 | 10 | |
| Boat Trips | 96,192 | 25,696 | |
| 115,176 | 47,386 | ||
| Analysis by fund | |||
| Unrestricted funds | 115,176 | 47,386 | |
| 8 | Net movement in funds | 2024 | 2023 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | - | - | |
| Depreciation of owned tangible fixed assets | 9 | 10 |
9 Members
None of the Members (or any persons connected with them) received any remuneration or benefits from the trust during the year.
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
10 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| 1 | 1 | |
| Employment costs | 2024 | 2023 |
| £ | £ | |
| Wages and salaries | 18,975 | 21,680 |
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Plant and | |
| machinery | |
| £ | |
| Cost | |
| At 1 January 2024 | 37,944 |
| At 31 December 2024 | 37,944 |
| Depreciation and impairment | |
| At 1 January 2024 | 37,887 |
| Depreciation charged in the year | 9 |
| At 31 December 2024 | 37,896 |
| Carrying amount | |
| At 31 December 2024 | 48 |
| At 31 December 2023 | 57 |
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STOCKPORT CANAL BOAT TRUST FOR DISABLED PEOPLE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
13 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 General funds Previous year: At 1 General funds |
January 2024 Incoming resources Resources expended At 31 December 2024 £ £ £ £ 109,280 55,985 (119,331) 45,934 January 2023 Incoming resources Resources expended At 31 December 2023 £ £ £ £ 82,794 77,551 (51,065) 109,280 |
|---|---|
14 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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