OFFICIAL - FOR PUBLIC RELEASE
Registered number 05246504
## CanalAbility
## Report and Unaudited Accounts
## 31 March 2026
## DOUGLAS JONES PHILLIPS LTD
## Accountants
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## **Contents**
|**Contents**|||
|---|---|---|
||Page||
|Legal & Administrative information||2|
|Foreword by Chair of Trustees||3|
|Principal Activities and Charitable Aims||4|
|Objectives and Activities for the Public Benefit||4|
|Trustees’ Report||5|
|- Trustees||5|
|- Statement of Trustee Responsibilities||6|
|- Appointment and Re-election of||6|
|Trustees|||
|- Activities and Achievements||7|
|- Governance and Internal Control||8|
|||9|
|Financial Review (including reserves)|||
|- Statement of Financial Activities||9|
|- Income and Expenditure Account||10|
|- Balance Sheet||11, 12|
|- Independent Examiner’s Report||13|
|- Notes to the Financial Statements|14, 15,|16, 17|
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## **Legal and Administrative Information**
Trustees Marc Balkham Ian Ramsay Charles Fraser Benjamin Alexander Seaton Robin Bishop Company Secretary Charles Fraser Company number 05246504 Charity number 1108452 Registered office Lock View Burnt Mill Lane Harlow Essex CM20 2QS Bankers HSBC Bank PLC Canada Place Canary Wharf London E14 5AH
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## **Foreword by Chair of Trustees**
I am delighted to present this annual report, along with the unaudited accounts for CanalAbility, and to reflect on the many achievements of our charity during 2025/26.
As ever, we are in uncertain times with myriad challenges to both our charity and our clients. We remain determined to meet these challenges, confident that our charity has adapted to and evolved through difficult times before. We are constantly looking to the future, ensuring we continue to build on our passion for our charity. At the heart of all we do is a simple but important theme and that is people and our community of staff, volunteers, clients and partners.
This has been another busy year, full of important developments. Since October, we have been thrilled to receive updates on the construction of our brand-new electrically powered boat, and we look forward to its launch, which is now pencilled in for early autumn 2026. This development is a testament to the amazing and steadfast efforts of our “Electric Avenue” Project Team, which has managed the budget, overseen the construction, made informed design decisions and reported regularly to the Board.
This will realise the aim set out in our strategy, _Taking Stock and Moving Forward_ , launched in October 2022, which first publicly stated our clear intention to purchase a new electrically powered boat. Regular internal reviews of that strategy informed the development of its successor, _Navigating Our Way – A Fleet Strategy for CanalAbility 2026–2028_ , which now guides our ongoing activities.
We are committed to continuing our journey, focused on promoting sustainability and reducing our environmental impact while increasing access to trips for those who benefit from the wonderful experiences our charity provides.
This clear, strategic direction enables us to focus on being as responsive as possible to the changing needs of disabled or disadvantaged people, to continually improve our offer and attract as many new and returning clients as possible.
Our lifeblood is our team of amazing volunteer crews, who are the people our clients meet and interact with on their trips. We place great importance on the quality of the skippers, first mates and crew members who operate our boats and look after everyone on board during a trip. They ensure that everyone who cruises with us enjoys a first-class and unique experience.
As such, we invest considerable time and effort in maintaining and developing both technical and interpersonal skills. I would like to thank our Training Team, all of whom are volunteers, for their incredible commitment and the time they devote to this work. Our client feedback is a testament to the quality of their work and to how attentively our crews listen.
Behind the scenes, our team of volunteers is responsible for boat turnaround and maintenance, the upkeep of our mooring and buildings, and vital administration. They are the equivalent of a Formula One pit crew, albeit operating at a slightly more leisurely pace.
If our volunteers are our lifeblood, then our office administration team is the circulatory system, directing activities and operations from our cabin headquarters at the mooring.
As in previous years, I must extend my thanks to my trustee colleagues on the Board, our inspiring General Manager, Doreen Goodall, and former Chair, Geoff Hill, who remains a constant source of advice and calm encouragement to us all. CanalAbility is truly greater than the sum of its parts, reflecting the exceptional contribution made by everyone involved.
**Marc Balkham Chair of the Board of Trustees 30 August 2026**
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## **Principal Activities and Charitable Aims**
The principal activity and charitable aim of the company is the provision of recreational and leisure facilities associated with canal boats, for people who by reason of their disability, youth, social or economic circumstances have need of such facilities, in order to improve their spiritual, mental and physical well-being. This is achieved by providing holidays, short breaks and day trips on specially adapted canal boats.
## **Objectives and Activities for the Public Benefit**
The Charity Commission’s guidance on public benefit has been considered by the trustees and remains central to ensuring that CanalAbility (the Charity) delivers its aims and objectives while complying with that guidance.
The Charity makes boating activities on inland waterways accessible to people with disabilities and community groups, enabling them to enjoy the benefits such activities provide. These benefits include building confidence, motivation and personal development by empowering our users—especially those with disabilities—to achieve aspirations that might not otherwise be available to them. The Charity encourages an appreciation and understanding of inland waterways, while time spent on the water supports spiritual and mental well-being.
The Charity operates three boats to provide day trips, holidays and short breaks. Users are encouraged to take an active part in boating activities, and a range of specialist equipment is provided to enable people with a wide range of disabilities to participate. Our users include hospices, care homes, members of disability support groups, families, community groups and educational establishments.
To cover its operating costs, the Charity relies on grants and donations, as well as fees charged for the boats and facilities offered. When setting fee levels, the trustees give careful consideration to ensuring access to services for those on low incomes.
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## **Trustees’ Report**
## **Trustees**
The directors of the Charity are its trustees for the purposes of charity law and throughout this report are collectively referred to as the trustees. CanalAbility has a Board of Trustees that meets regularly and is responsible for the strategic direction and policy of the Charity.
## **Marc Balkham**
Chair of Trustees Re-elected by rotation October 2025
Marc decided to become a trustee after meeting with the people who work and volunteer for CanalAbility to promote positive experiences for the local community. Marc is employed as the manager of another local charity, PACT for Autism in Harlow, and runs an upcycling project for young adults with learning difficulties for Voluntary Action Epping Forest.
## **Ian Ramsay**
Director of Fleet & Site Re-elected by rotation October 2024
Ian joined CanalAbility in 2011, having found us online while looking for a canal boat holiday for a friend who used a wheelchair. In January 2016, he became co-opted Trustee for fleet and moorings. Before retiring, Ian had a long career as an engineer in the merchant navy, culminating in seven years as a Chief Engineer.
**Charles Fraser** Company Secretary Re-elected by rotation October 2025
Charles has a long history of boat-related activities and has spent numerous holidays on canal boats. He qualified as a solicitor in 1997 and is a Partner and Head of Private Client at Lightfoots Solicitors, specialising in helping clients with additional needs and their families.
**Benjamin Alexander Seaton** Treasurer Re-elected by rotation October 2023 Ben joined CanalAbility in 2022 after learning about the valuable work that CanalAbility does to enable people with disabilities and special needs to enjoy the beautiful waterways across Essex and Hertfordshire. He is a Civil Servant at the Foreign Office and sits as the managing director of an art business in London.
## **Robin Bishop** Trustee
Elected October 2024
Robin is a keen narrowboat enthusiast and joined the board of trustees in 2024 to help promote the awareness and fundraising activities of CanalAbility. He admires the charity’s cause to facilitate people who wouldn’t ordinarily have the opportunity or access to enjoy the pleasures of being on the water. He has spent his entire 50-year career in the printing industry and has been a board director of Perivan Limited since 2003.
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## **Statement of Trustee Responsibilities**
Company and charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period.
In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently,
- make judgements and estimates that are reasonable and prudent,
- state whether applicable accounting standards and statements of recommended practice have been followed subject to any 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 charity will continue in business.
The trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, both financial and otherwise. They are also responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the Charity. In addition, they are responsible for safeguarding the Charity’s assets and for taking reasonable steps to prevent and detect fraud and other irregularities.
## **Appointment and Re-election of Trustees**
The directors of the charitable company are also its trustees for the purposes of charity law. Under the Memorandum and Articles of Association, members of the Board of Trustees are elected to serve for a period of three years, after which they must stand for re-election at the next Annual General Meeting.
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## **Activities and Achievements**
## **Introduction**
- During 2025/26, CanalAbility focused on the exciting construction of our new boat, reviewed its strategy and planned for future stability, while maintaining the high quality of service provided to clients.
- The feedback we receive from clients is a testament to the quality of our services and to the excellent work of our staff and volunteers. It reassures us that our work is worthwhile and highlights opportunities for further improvement and development.
- We continued to see an increase in the number of new clients, most of whom were introduced to us by existing clients. This illustrates the quality of our services and the power of word-of-mouth recommendations. After many trips, clients continue to tell us about the positive impact our services have on their health and well-being.
## **Income**
- We saw an unrestricted income deficit of 13% (£7,960) against budget for FY 2025/26 due to shortfalls in day hire, general donations and accrued bank interest. Income from day hire was down by £3,801, largely because 27 trips had to be cancelled due to health and safety concerns caused by excessive heat. Although most were rebooked, some were at a lower rate and some refunds were made.
- Donations to general funds were £4,006 (40%) below the budget set. This budget was ambitious, given that we were also seeking donations towards our new boat, which tended to take priority and exceeded expectations.
- We had substantial restricted income of £253,011 consisting of £30,000 from the Postcode Lottery and £209,800 from the National Lottery, alongside £13,210 from other sources.
- Throughout 2025/26, the General Manager and Board of Trustees closely monitored our financial performance, and appropriate actions were taken to deliver income streams largely in line with the budget set for April 2025 onwards.
- We review our pricing and purchasing strategies annually to ensure that we can offer our clients value for money and high-quality services.
## **Grants, donations and fundraising**
- We would like to once again thank our funders, sponsors and generous individual donors, who continue to support us on a regular basis.
- We also need to give a nod to our fundraising volunteers who, in addition to crewing boats, have found creative ways to raise money in support of our new boat project.
- All of this support is crucial to our charity and greatly appreciated.
## **Expenditure**
- We achieved an underspend of 3.3% (£2,348) against an unrestricted expenditure budget of £69,880, driven by reductions in office expenses and routine boat maintenance requirements.
- There was significant restricted expenditure of £250,508 (£300,585 including VAT) paid to Colecraft Engineering Ltd for our new National Lottery-funded electric boat, which is due to be delivered in FY 2026/27. Of this expenditure, £209,738 was financed by the National Lottery.
- We plan for and invest in regular maintenance of our boats to mitigate the need for responsive repair expenditure.
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## **Volunteers**
- Our volunteers remain the lifeblood of our Charity, and it is thanks to their dedication and determination that we are able to provide a professional and well-received service.
- We continued to actively seek new volunteers to support all areas of the Charity including crewing our boats, boat and mooring maintenance and administration. We have welcomed a growing number of volunteer crew who have completed their training and taken their place in our roster of active crew members.
## **Trips**
- This outstanding volunteer support allowed us to provide 210 trips and help more than 2,200 people benefit from the mental and physical health benefits of getting out on the water. This was despite the need to cancel some trips due to extremely high temperatures in the summer, as referred to previously.
## **The difference made**
- We seek customer feedback for every trip we provide, and our high satisfaction ratings, both in terms of the quality of the experience and the effects upon mood and well-being, speak for themselves.
- This is a testament to the great efforts of all staff, trustees and volunteers and, in particular, our crews, who are public-facing and crucial to our clients’ experience.
## **Customer Satisfaction 2025/26**
## **Thank you**
- Again, a huge thank you to our staff and trustees who work tirelessly to keep the charity afloat, our volunteers who carry out various roles and our clients who return time and time again to enjoy the therapeutic benefits that being out on the water brings to their health and well-being.
This report was approved by the trustees on 30 August 2026 and signed on their behalf.
## **Marc Balkham Chair of the Board of Trustees**
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## **Governance and Internal Control**
## **Governing Document**
The organisation is a charitable company limited by guarantee, incorporated on 30 September 2004 and registered as a charity on 4 March 2005. The charity had previously operated as an unincorporated body, charity number 1006432 registered in November 1991. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
In the event of the company being wound up, members are required to contribute an amount not exceeding £10.
Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. All policies recommended by the Charity Commission are adopted, and procedures are in place to ensure compliance with requirements for the health and safety of staff, volunteers and clients.
These procedures are reviewed periodically to ensure that they continue to meet the Charity’s needs and the requirements of the Charity Commission.
## **Reserves**
The Trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. It has a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be at least three months of the fixed running costs. The reserve target for 2025/26 was set at £60,000. The strategy is to build reserves through planned operating surpluses and increased fundraising.
## **Investment powers, policy and performance**
Under the Memorandum and Articles of Association, the charity has the power to invest in line with its financial policy.
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## **CANALABILITY**
## **Statement of financial activities For the year ended 31 March 2026**
|||**Unrestricted**|**Restricted**|**Year**|**Year**|
|---|---|---|---|---|---|
|||**funds**|**funds**|**ended**|**ended**|
|||||**31/03/26**|**31/03/25**|
||**Notes**|**£**|**£**|**£**|**£**|
|**Income**||||||
|Voluntary Income||5,959|253,011|258,970|71,113|
|(Grants, Donations, Fundraising)||||||
|Income from charitable activities||43,194||43,194|43,643|
|(Boat Hire)||||||
|Income from investments||2,849||2,849|3,604|
|(Bank Interest)||||||
|Other Interest Received||35||35|0|
|(Interest on VAT)||||||
|**Total income**||**52,037**|**253,011**|**305,048**|**118,360**|
|**Expenditure**||||||
|Boat repair, maintenance and running costs||22,149||22,149|19,025|
|Staff costs||30,645||30,645|31,405|
|Training||903|3,037|3,940|656|
|Heat, Light & Power||981||981|2,041|
|Insurance||3,833||3,833|3,871|
|Advertising||445||445|1,099|
|Telephone||111||111|298|
|Office expenses||5,361|3,401|8,762|4,484|
|General expenses||1,560|930|2,490|1,044|
|Accountancy||700||700|650|
|Depreciation and amortisation||1,250||1,250|3,125|
|**Total expenditure**||**(67,938)**|**(7,368)**|**(75,306)**|**(67,697)**|
|**Net incoming resources before other**||||||
|**recognised gains and losses**||||||
|**Other recognised gains/losses**||||||
|Gains and losses on fixed assets||||||
|**Transfers**||||||
|Gross transfers between funds|||||0|
|**Net movement in funds**||**(15,901)**|**245,643**|**229,742**|**50,663**|
|Total funds brought forward||65,078|150,536|215,614|164,951|
|**Total funds carried forward**||**49,177**|**396,179**|**445,355**|**215,614**|
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## **CANALABILITY**
## **Income and Expenditure Account For the year ended 31 March 2026**
|Income
Total expenditure
**Operating (deficit)/surplus**
Income from investments
Other interest received
**Gains and losses from disposals of fixed assets**
Net retained (deficit)/surplus for the financial period|**Year**
**ended**
**31/03/26**
**£**
302,164
75,306
**226,858**
2,849
35
**229,742**|**Year**
**ended**
**31/03/25**
**£**
114,756
67,697|
|---|---|---|
|||**47,059**
3,604|
||||
|||**50,663**|
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## **CANALABILITY**
## **Balance Sheet as at 31 March 2026**
|**Notes**
**Fixed assets**
Tangible assets
**Current assets**
Other debtors
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**Net assets**
**Funds**
Unrestricted
Restricted|**31/03/26**
**£**
**£**
1,250
1,250
291,132
159,924
451,056
(5,043)
446,013
447,263
(1,908)
445,355
145,793
299,562
445,355|**31/03/25**
**£**
**£**
2,500
2,500
40,522
185,519
226,041
(9,081)
216,960
219,460
(3,846)
215,614
150,537
65,077
215,614|**31/03/25**
**£**
**£**
2,500
2,500
40,522
185,519
226,041
(9,081)
216,960
219,460
(3,846)
215,614
150,537
65,077
215,614|
|---|---|---|---|
||||219,460
(3,846)|
||||215,614|
||||150,537
65,077|
||||215,614|
The trustees' statements required by the Companies Act 2006 are shown on the following pages which form part of this Balance sheet.
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## **CANALABILITY**
## **Notes to the financial statements for the year ended 31 March 2026**
## **Balance sheet (continued)**
## **Trustees’ statements required by the Companies Act 2006 for the year ended 31 March 2026**
In approving these financial statements as trustees of the company, we confirm that:
For the year ended 31 March 2026 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 of the Companies Act 2006.
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 profit and loss account has not been delivered to the Registrar of Companies. The financial statements were
approved by the Board and signed on its behalf on 30 August 2026.
## **Trustee – Benjamin Alexander Seaton**
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## **Independent Examiner’s Report to the Trustees of CanalAbility**
I report to the trustees on my examination of the accounts for the Charity for the year ended 31 March 2026, which are set out on pages 9 to 17.
## **Respective responsibilities of the trustees and examiner**
As the charity trustees of CanalAbility, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and, in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination that give me cause to believe that, in any material respect:
- accounting records were not kept in accordance with section 130 of the Act; or
- the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Douglas Jones Phillips Ltd Accountants First Floor, O-I Building, The West Wing, Edinburgh Way, Harlow CM20 2DB
July 2026
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## **CANALABILITY**
## **Notes to the financial statements for the year ended 31 March 2026**
## **Accounting policies**
## **1. Accounting convention**
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard).
The charity has taken advantage of the exemption in FRS 102 from the requirement to produce a cash flow statement because it is a small company.
## **2. Income**
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.
Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
Income from investments is included in the year in which it is receivable.
## **3. Expenditure**
Expenditure is recognised in the year in which it is incurred.
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
## **4. Tangible fixed assets and depreciation**
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and Machinery 5% / 10% on cost or valuation
## **5. Stocks**
Stock is valued at the lower of cost and net realisable value.
## **6. Other debtors**
This is the non-refundable deposit paid towards the new electric boat.
The Charity has a future commitment to pay a further £207,129. This will be mostly covered by The Big Lottery Fund, which has committed to pay £329,740 and registered a legal charge attached to the asset.
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## **CANALABILITY**
**Notes to the financial statements for the year ended 31 March 2026**
**----- Start of picture text -----**
1 Grant Income Unrestricted Restricted Year ended Year ended
funds funds 31/03/26 31/03/25
£ £ £ £
0 35,371 35,371 4,385
Other Grants 0 35,371 35,371 4,385
2 Number of Employees Year ended Year ended
31/03/26 31/03/25
The average monthly number of employees
(excluding trustees) during the period
2 2
**----- End of picture text -----**
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## **CANALABILITY**
## **Notes to the financial statements for the year ended 31 March 2026**
|**3 Tangible Fixed Assets**
**Cost**
At 1 April 2025
Additions
Disposals
At 31 March 2026
**Depreciation**
At 1 April 2025
Disposals
Charge for the Year
At 31 March 2026
**Net Book Value**
At 1 April 2025
At 31 March 2026|**Plant &**
**Machinery**
**£**
152,156
152,156
149,656
1,250
150,906
2,500
1,250|**Total**
**£**
152,156|
|---|---|---|
|||152,156
149,656
1,250|
|||150,906
2,500
1,250|
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