Chichester Ship Canal Trust Annual Report January – December 2020
There is no doubt that 2020 was a hard year for everyone. Going into the year we were excited to build on a successful 2019, including planning the 200[th] anniversary celebrations, educational trips, and training new volunteer recruits. Sadly, however, for the first time in 30 years in March we had to cease all activity with immediate effect. But despite the lockdown and restrictions, the canal quietly continued to flourish. We became the go to place as people started to explore their local area for the first time. From spring, we started noticing that footfall was increasing as those that could got out for their hours exercise took advantage of what we had to offer. People were able to briefly free themselves from the daily stress of lockdown giving them a safe space at a difficult time.
Our popularity continued through the summer. As restrictions eased and we were able to offer rowboat hire and limited boat trips, more people than ever were keen to join us on the water. The temporary closure did not impact the sale of paddleboard and canoe licences, or the hiring of rowing boat hires. This just shows we continue to prove to be invaluable for people’s mental health and a fantastic resource for those that want to be moving on water.
But we would not be what we are without volunteers, and we used Volunteer Week in June to highlight what a huge difference those donating their time make. Despite the continuing restrictions we received an increasing number of enquiries from potential volunteers. With so many
people willing to give their time and energy it just goes to show how much of an appetite there is to a maintain what is not just a site of historical importance, but a beautiful place that provides so many benefits to the community. The appreciation for what the Canal can offer was never more apparent than when the Café re-opened in July. As well as being the perfect outside space for small groups of people to meet safely, there was an influx of first-time visitors exploring their local area. Photographers particularly enjoyed discovering the canal, with some excellent
submissions being made to the Canal team. Building on the popularity of the canal this year, we see our 200[th] birthday next year as an opportunity to give back and say thank you to all the invaluable support that the Canal has received over the years.
It is well known that the Canal basin and towpath is home to rare and varied wildlife, which had a unique chance to flourish this year. This has led to a renewed interest in the wildlife of the Canal, with the Trust using the opportunity to highlight this to our supporters. One example of this is sharing regular wildlife blogs on our social media platforms, which have also been published in the Valley Diary and in our regular member newsletters. 2020 was also a year where we were able to strengthen our links with the Inland Waterways Association who amongst other things champion the restoration and the regeneration of the nation’s waterways. We were delighted to present our lock-down stories to their members and other waterways, and learned a lot about our common challenges. One thing that is now a top priority, is to address the restoration of the Canal’s banks to ensure the safety for all users in the future. The Trust was
delighted to be awarded almost £3,000 from Portsmouth Water’s Biodiversity Grant. This will fund professional specialist environmental surveys, to help the Chichester Ship Canal Trust understand how best to manage the Canal for present and future biodiversity, what habitat enhancements may be possible, and how to enhance and maintain the natural capital of the Canal.
Despite the restrictions impacting our operations there have still been some real positives. Although the café has been closed for almost a quarter of the financial year and social distancing making boat trips particularly tricky we still welcomed around 25,000 customers to the Café and carried around 1,000 customers on boat trips. A reflection of all the hard work put in by the café staff and volunteers. We have also been able to strengthen our links with VisitChichester, who featured the canal as part of their rebranding into the Great Sussex Way. We have continued to make the most our membership with the Chamber of Commerce, attending regular meetings and training sessions. In October one of our Trustees presented about the Canal as part of an evening featuring the heritage and cultural places in Chichester.
But most heart-warmingly of all we have seen support for the Canal from both the public and businesses of Chichester. In summer 2020 planning started on an audacious and ambitious plan to raise £200,000 in time of the Canal’s 200[th] birthday, for the bank restoration that is so desperately needed. The campaign was well supported from the start, with a generous contribution from Chichester City Council of £10,000.
However, this was on the proviso that funding was secured from other sources. In order to secure funding from West Sussex County Council we tried a new approach of crowdfunding to raise £10,000. This secured a contribution of £2,000 from the County Council and certainly raised our profile as the small charity behind the Canal. With a first-class social media campaign coordinating with volunteers on the ground word spread and the £10,000 target was met well ahead of schedule. Several grant applications were submitted and some private donations from local companies were received.
The Trustees would like to thank all the members and volunteers for their unstinting support of the Chichester Ship Canal Trust.
| Page | ||
|---|---|---|
| Report of the Trustees | 1 | to 2 |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | to 6 |
| Notes to the Financial Statements | 7 | to 12 |
| Detailed Statement of Financial Activities | 13 |
| 31.12.20 | 31.12.19 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 3,496 | 15,085 | 18,581 | 10,097 | |
| Charitable activities | |||||
| Revenue/costs re activities in furtherance of the | |||||
| charity’s objectives | 13,019 | 12,259 | 25,278 | 3,277 | |
| Other trading activities | 2 | 3,896 | - | 3,896 | 4,436 |
| Investment income | 3 | 20,456 | - | 20,456 | 20,425 |
| Total | 40,867 | 27,344 | 68,211 | 38,235 | |
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Revenue/costs re activities in furtherance of the | |||||
| charity’s objectives | 44,904 | 259 | 45,163 | 65,992 | |
| NET INCOME/(EXPENDITURE) | (4,037) | 27,085 | 23,048 | (27,757) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 381,839 | 97,017 | 478,856 | 506,613 | |
| TOTAL FUNDS CARRIED FORWARD | 377,802 | 124,102 | 501,904 | 478,856 |
| 31.12.20 | 31.12.19 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 8 | 299,546 | 97,792 | 397,338 | 409,509 |
| Investments | 9 | 2 | - | 2 | 2 |
| 299,548 | 97,792 | 397,340 | 409,511 | ||
| CURRENT ASSETS | |||||
| Debtors | 10 | 6,954 | - | 6,954 | (260) |
| Cash at bank | 80,645 | 27,085 | 107,730 | 82,191 | |
| 87,599 | 27,085 | 114,684 | 81,931 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 11 | (3,310) | 1 | (3,309) | (2,498) |
| NET CURRENT ASSETS | 84,289 | 27,086 | 111,375 | 79,433 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 383,837 | 124,878 | 508,715 | 488,944 | |
| ACCRUALS AND DEFERRED INCOME | 12 | (6,035) | (776) | (6,811) | (10,088) |
| NET ASSETS | 377,802 | 124,102 | 501,904 | 478,856 | |
| FUNDS | 13 | ||||
| Unrestricted funds | 377,802 | 381,839 | |||
| Restricted funds | 124,102 | 97,017 | |||
| TOTAL FUNDS | 501,904 | 478,856 |
| 31.12.20 | 31.12.19 |
|---|---|
| £ | £ |
| 3,896 | 4,436 |
| NVESTMENT INCOME | |||
|---|---|---|---|
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Rents received | 20,000 | 20,000 | |
| Deposit account interest | 456 | 425 | |
| 20,456 | 20,425 | ||
| SUPPORT COSTS | |||
| Governance | |||
| Management | costs | Totals | |
| £ | £ | £ | |
| Revenue/costs re activities in furtherance of the | |||
| charity's obj ectives | 3,161 | 5,767 | 8,928 |
| NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Depreciation - owned assets | 12,171 | 12,252 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| fund | fund | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 10,098 | (1) | 10,097 |
| Charitable activities | |||
| Revenue/costs re activities in furtherance of the | |||
| charity's objectives | 3,018 | 259 | 3,277 |
| Othertrading activities | 4,436 | - | 4,436 |
| Investment income | 20,425 | - | 20,425 |
| Total | 37,977 | 258 | 38,235 |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Revenue/costs re activities in furtherance of the | |||
| charity's objectives | 65,734 | 258 | 65,992 |
| NET INCOME/(EXPENDITURE) | (27,757) | - | (27,757) |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| fund | fund | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 409,596 | 97,017 | 506,613 | |
| TOTAL FUNDS CARRIED FORWARD | 381,839 | 97,017 | 478,856 | |
| TANGIBLE FIXED ASSETS | ||||
| Fixtures | ||||
| Freehold | Plant and | and | ||
| property | machinery | fittings | Totals | |
| £ | £ | £ | £ | |
| COST | ||||
| At 1 January 2020 and 31 December 2020 | 359,392 | 132,892 | 63,066 | 555,350 |
| DEPRECIATION | ||||
| At 1 January 2020 | - | 112,583 | 33,258 | 145,841 |
| Charge for year | - | 6,133 | 6,038 | 12,171 |
| At 31 December 2020 | - | 118,716 | 39,296 | 158,012 |
| NET BOOK VALUE | ||||
| At 31 December 2020 | 359,392 | 14,176 | 23,770 | 397,338 |
| At 31 December 2019 | 359,392 | 20,309 | 29,808 | 409,509 |
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| GiftAid donation | ||
| Rent | 20,000 | 20,000 |
| 20,000 | 20,000 |
| The results of Chichester Canal Trading Limited, extracted from its accounts for the year ended 31st December 2020 are | The results of Chichester Canal Trading Limited, extracted from its accounts for the year ended 31st December 2020 are | The results of Chichester Canal Trading Limited, extracted from its accounts for the year ended 31st December 2020 are |
|---|---|---|
| as follows | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Turnover | 114,374 | 331,968 |
| Other operating income | 15,418 | 5,418 |
| Interest receivable | 4 | 10 |
| 129,796 | 337,396 | ||
|---|---|---|---|
| Total Income | |||
| Cost of sales | 85,948 | 147,650 | |
| Other operating costs | 96,500 | 166,321 | |
| Total Expenses | 182,448 | 313,971 | |
| Net profit/(loss) for the year before charges | (52,652) | 23,425 | |
| Amount covenanted to the Trust under gift aid | |||
| Corporation tax (payable)/repayable | 6,299 | (6,299) | |
| (Increase)/decrease inprovision for deferred taxation | 4,239 | 2,830 | |
| Profit/(loss) retained for the year | (42,114) | 19,956 | |
| **10. ** | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| n.12.20 | 31.12.19 | ||
| £ | £ | ||
| Amounts owed from CCT Ltd | 6,954 | (260) | |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| .12.20 | 31.12.19 | ||
| £ | £ | ||
| Trade creditors | (2) | (2) | |
| VAT | 511 | - | |
| Accrued expenses | 2,800 | 2,500 | |
| 3,309 | 2,498 | ||
| 12. | ACCRUALS AND DEFERRED INCOME | ||
| .12.20 | 31.12.19 | ||
| £ | £ | ||
| Deferred government grants | 776 | 1,035 | |
| Deferred grants (non gov’t) | 6,035 | 9,053 | |
| 6,811 | 10,088 |
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Balance brought forward | 70,379 | 99,444 |
| Net movement in funds | 23,048 | (27,757) |
| Transfers to Restricted Revenue Reserve | (27,085) | |
| Transfers to/(from) Capital Reserve - Unrestricted | 11,912 | (1,308) |
| Balance carried forward | 78,254 | 70,379 |
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Restricted funds held at bank | 27,085 | |
| This represents funding received in the year forthe repair of canal banks. | ||
| CAPITAL RESERVE - UNRESTRICTED | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| This represents the value of unrestricted funds invested in freehold premises, fixtures, | ||
| fittings and plant | 299,548 | 311,460 |
| CAPITAL RESERVE - RESTRICTED | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| This represents the value of restricted funds obtained via grants that have been invested | ||
| inthe freehold premises and associated fixtures and fittings and maybe repayable if the | ||
| property was sold or the assets not used as per the conditions of the grants | 97,017 | 97,017 |
| TOTAL FUNDS | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Total unrestricted funds | 377,802 | 381,839 |
| Totalrestricted funds | 124,102 | 97,017 |
| Grant income recognised and released to income inthe year was as follows | ||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| WSCC - 10% of this grant is released to the Statement of Financial Activities in line | ||
| with the asset's depreciation policy (£2,585 x 10% = £259). The balance of £776 | ||
| being shown as "Creditors due after 1 year" | 259 | 259 |
| Leader - 10% of this grant is releasedto the Statement of Financial Activities in line | ||
| with the asset's depreciationpolicy (£30,175 x 10% = £3,018). The balance of £6,034 | ||
| being shown as "Creditors due after 1 year" | 3,018 | 3,018 |
| Total grants received | 3,277 | 3,277 |
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| £ | £ | ||
| Grants: | Chichester City Council | 10,000 | |
| West Sussex County Council | 2,000 | ||
| Donations | 15,085 | ||
| 27,085 |
| forthe Year Ended 31 | December 2020 | |
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and gift aid reclaim | 18,581 | 10,097 |
| Other trading activities | ||
| Subscriptions | 3,896 | 4,436 |
| Investment income | ||
| Rents received | 20,000 | 20,000 |
| Deposit account interest | 456 | 425 |
| 20,456 | 20,425 | |
| Charitable activities | ||
| Grants received | 25,278 | 3,277 |
| Total incoming resources | 68,211 | 38,235 |
| EXPENDITURE | ||
| Charitable activities | ||
| Insurance and Licences | 10,768 | 10,830 |
| Canal Works | 9,714 | 22,730 |
| Maintenance and Equip repairs | 522 | 3,793 |
| Printing, Postage,Stationery | 3,060 | 3,970 |
| Depreciation | 12,171 | 12,252 |
| 36,235 | 53,575 | |
| Support costs | ||
| Management | ||
| Rates, water & cleaning | 1,197 | 1,793 |
| Light and heat | 821 | 924 |
| Advertising | - | 1,190 |
| Sundries | 1,143 | 5,710 |
| 3,161 | 9,617 | |
| Governance costs | ||
| Accountancy | 3,100 | 2,800 |
| Legal fees | 2,667 | - |
| 5,767 | 2,800 | |
| Total resources expended | 45,163 | 65,992 |
| Net income/(expenditure) | 23,048 | (27,757) |
| Page | ||
|---|---|---|
| Report of the Trustees | 1 | to 2 |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | to 6 |
| Notes to the Financial Statements | 7 | to 12 |
| Detailed Statement of Financial Activities | 13 |
| 31.12.20 | 31.12.19 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 3,496 | 15,085 | 18,581 | 10,097 | |
| Charitable activities | |||||
| Revenue/costs re activities in furtherance of the | |||||
| charity’s objectives | 13,019 | 12,259 | 25,278 | 3,277 | |
| Other trading activities | 2 | 3,896 | - | 3,896 | 4,436 |
| Investment income | 3 | 20,456 | - | 20,456 | 20,425 |
| Total | 40,867 | 27,344 | 68,211 | 38,235 | |
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Revenue/costs re activities in furtherance of the | |||||
| charity’s objectives | 44,904 | 259 | 45,163 | 65,992 | |
| NET INCOME/(EXPENDITURE) | (4,037) | 27,085 | 23,048 | (27,757) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 381,839 | 97,017 | 478,856 | 506,613 | |
| TOTAL FUNDS CARRIED FORWARD | 377,802 | 124,102 | 501,904 | 478,856 |
| 31.12.20 | 31.12.19 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 8 | 299,546 | 97,792 | 397,338 | 409,509 |
| Investments | 9 | 2 | - | 2 | 2 |
| 299,548 | 97,792 | 397,340 | 409,511 | ||
| CURRENT ASSETS | |||||
| Debtors | 10 | 6,954 | - | 6,954 | (260) |
| Cash at bank | 80,645 | 27,085 | 107,730 | 82,191 | |
| 87,599 | 27,085 | 114,684 | 81,931 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 11 | (3,310) | 1 | (3,309) | (2,498) |
| NET CURRENT ASSETS | 84,289 | 27,086 | 111,375 | 79,433 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 383,837 | 124,878 | 508,715 | 488,944 | |
| ACCRUALS AND DEFERRED INCOME | 12 | (6,035) | (776) | (6,811) | (10,088) |
| NET ASSETS | 377,802 | 124,102 | 501,904 | 478,856 | |
| FUNDS | 13 | ||||
| Unrestricted funds | 377,802 | 381,839 | |||
| Restricted funds | 124,102 | 97,017 | |||
| TOTAL FUNDS | 501,904 | 478,856 |
| 31.12.20 | 31.12.19 |
|---|---|
| £ | £ |
| 3,896 | 4,436 |
| NVESTMENT INCOME | |||
|---|---|---|---|
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Rents received | 20,000 | 20,000 | |
| Deposit account interest | 456 | 425 | |
| 20,456 | 20,425 | ||
| SUPPORT COSTS | |||
| Governance | |||
| Management | costs | Totals | |
| £ | £ | £ | |
| Revenue/costs re activities in furtherance of the | |||
| charity's obj ectives | 3,161 | 5,767 | 8,928 |
| NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Depreciation - owned assets | 12,171 | 12,252 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| fund | fund | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 10,098 | (1) | 10,097 |
| Charitable activities | |||
| Revenue/costs re activities in furtherance of the | |||
| charity's objectives | 3,018 | 259 | 3,277 |
| Othertrading activities | 4,436 | - | 4,436 |
| Investment income | 20,425 | - | 20,425 |
| Total | 37,977 | 258 | 38,235 |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Revenue/costs re activities in furtherance of the | |||
| charity's objectives | 65,734 | 258 | 65,992 |
| NET INCOME/(EXPENDITURE) | (27,757) | - | (27,757) |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| fund | fund | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 409,596 | 97,017 | 506,613 | |
| TOTAL FUNDS CARRIED FORWARD | 381,839 | 97,017 | 478,856 | |
| TANGIBLE FIXED ASSETS | ||||
| Fixtures | ||||
| Freehold | Plant and | and | ||
| property | machinery | fittings | Totals | |
| £ | £ | £ | £ | |
| COST | ||||
| At 1 January 2020 and 31 December 2020 | 359,392 | 132,892 | 63,066 | 555,350 |
| DEPRECIATION | ||||
| At 1 January 2020 | - | 112,583 | 33,258 | 145,841 |
| Charge for year | - | 6,133 | 6,038 | 12,171 |
| At 31 December 2020 | - | 118,716 | 39,296 | 158,012 |
| NET BOOK VALUE | ||||
| At 31 December 2020 | 359,392 | 14,176 | 23,770 | 397,338 |
| At 31 December 2019 | 359,392 | 20,309 | 29,808 | 409,509 |
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| GiftAid donation | ||
| Rent | 20,000 | 20,000 |
| 20,000 | 20,000 |
| The results of Chichester Canal Trading Limited, extracted from its accounts for the year ended 31st December 2020 are | The results of Chichester Canal Trading Limited, extracted from its accounts for the year ended 31st December 2020 are | The results of Chichester Canal Trading Limited, extracted from its accounts for the year ended 31st December 2020 are |
|---|---|---|
| as follows | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Turnover | 114,374 | 331,968 |
| Other operating income | 15,418 | 5,418 |
| Interest receivable | 4 | 10 |
| 129,796 | 337,396 | ||
|---|---|---|---|
| Total Income | |||
| Cost of sales | 85,948 | 147,650 | |
| Other operating costs | 96,500 | 166,321 | |
| Total Expenses | 182,448 | 313,971 | |
| Net profit/(loss) for the year before charges | (52,652) | 23,425 | |
| Amount covenanted to the Trust under gift aid | |||
| Corporation tax (payable)/repayable | 6,299 | (6,299) | |
| (Increase)/decrease inprovision for deferred taxation | 4,239 | 2,830 | |
| Profit/(loss) retained for the year | (42,114) | 19,956 | |
| **10. ** | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| n.12.20 | 31.12.19 | ||
| £ | £ | ||
| Amounts owed from CCT Ltd | 6,954 | (260) | |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| .12.20 | 31.12.19 | ||
| £ | £ | ||
| Trade creditors | (2) | (2) | |
| VAT | 511 | - | |
| Accrued expenses | 2,800 | 2,500 | |
| 3,309 | 2,498 | ||
| 12. | ACCRUALS AND DEFERRED INCOME | ||
| .12.20 | 31.12.19 | ||
| £ | £ | ||
| Deferred government grants | 776 | 1,035 | |
| Deferred grants (non gov’t) | 6,035 | 9,053 | |
| 6,811 | 10,088 |
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Balance brought forward | 70,379 | 99,444 |
| Net movement in funds | 23,048 | (27,757) |
| Transfers to Restricted Revenue Reserve | (27,085) | |
| Transfers to/(from) Capital Reserve - Unrestricted | 11,912 | (1,308) |
| Balance carried forward | 78,254 | 70,379 |
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Restricted funds held at bank | 27,085 | |
| This represents funding received in the year forthe repair of canal banks. | ||
| CAPITAL RESERVE - UNRESTRICTED | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| This represents the value of unrestricted funds invested in freehold premises, fixtures, | ||
| fittings and plant | 299,548 | 311,460 |
| CAPITAL RESERVE - RESTRICTED | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| This represents the value of restricted funds obtained via grants that have been invested | ||
| inthe freehold premises and associated fixtures and fittings and maybe repayable if the | ||
| property was sold or the assets not used as per the conditions of the grants | 97,017 | 97,017 |
| TOTAL FUNDS | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Total unrestricted funds | 377,802 | 381,839 |
| Totalrestricted funds | 124,102 | 97,017 |
| Grant income recognised and released to income inthe year was as follows | ||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| WSCC - 10% of this grant is released to the Statement of Financial Activities in line | ||
| with the asset's depreciation policy (£2,585 x 10% = £259). The balance of £776 | ||
| being shown as "Creditors due after 1 year" | 259 | 259 |
| Leader - 10% of this grant is releasedto the Statement of Financial Activities in line | ||
| with the asset's depreciationpolicy (£30,175 x 10% = £3,018). The balance of £6,034 | ||
| being shown as "Creditors due after 1 year" | 3,018 | 3,018 |
| Total grants received | 3,277 | 3,277 |
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| £ | £ | ||
| Grants: | Chichester City Council | 10,000 | |
| West Sussex County Council | 2,000 | ||
| Donations | 15,085 | ||
| 27,085 |
| forthe Year Ended 31 | December 2020 | |
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and gift aid reclaim | 18,581 | 10,097 |
| Other trading activities | ||
| Subscriptions | 3,896 | 4,436 |
| Investment income | ||
| Rents received | 20,000 | 20,000 |
| Deposit account interest | 456 | 425 |
| 20,456 | 20,425 | |
| Charitable activities | ||
| Grants received | 25,278 | 3,277 |
| Total incoming resources | 68,211 | 38,235 |
| EXPENDITURE | ||
| Charitable activities | ||
| Insurance and Licences | 10,768 | 10,830 |
| Canal Works | 9,714 | 22,730 |
| Maintenance and Equip repairs | 522 | 3,793 |
| Printing, Postage,Stationery | 3,060 | 3,970 |
| Depreciation | 12,171 | 12,252 |
| 36,235 | 53,575 | |
| Support costs | ||
| Management | ||
| Rates, water & cleaning | 1,197 | 1,793 |
| Light and heat | 821 | 924 |
| Advertising | - | 1,190 |
| Sundries | 1,143 | 5,710 |
| 3,161 | 9,617 | |
| Governance costs | ||
| Accountancy | 3,100 | 2,800 |
| Legal fees | 2,667 | - |
| 5,767 | 2,800 | |
| Total resources expended | 45,163 | 65,992 |
| Net income/(expenditure) | 23,048 | (27,757) |