i¥ REGISTERED NUMBER: 06128940 LOUTH NA VIGATION TRUST LIMITED REPORT OF THE DIRECTORS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 *AEFPNOXG* 2011112025 COMPANIES HOUSE A15 #291 LoirrH NAVIGATION TRUST LIMITED LIMITED BY GUARANTEE CONTEI¥4TS OF THE FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31ST MARCH 2025 rage Officers and idvisors Trustees, Annual Report ststement of Financial A¢tiviti¢s Balance Sheel Notes to the Finaneial Statement LOUTH NAVIGA TION TRUST LI￿llTED LIMITED BY GUARANTEE TRUSTEES: Paula Jane Hunt David Carnell Andrew Stratford (deceased 131612024) Roger Subden Stephen John Betteridge Alan Pascoe Coulbeck Stuart Malcolm Sizer Peter William Harry Brookes Alison Eades COMPANY SECRETARY: Paula Jane Hunt REGISTERED OFFICE: Navigation Warehouse Riverhead Road Louth Lincolnshire LNI I ODA BANKERS: Lloyds Bank PIC LOUTH NA VIGATION TRUST LIMITED LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 Structure) governance and management Louth Navigation Trust is a registered company (number 6128940) and charity (number 1119812). Its governing documeni is its Articles of Association. The company was incorporated on 27th February 2007 and tharitabl¢ status was gained on 27th July 2007. The company remained donnant until July 2007 when it took over the assets and liabilities of the unincorporated charity Louth Navigalion. Objettives and Aetivities To preserve, conserve and restore the Lourh Canal and all connected therewith. Fbnaneial revlew As per the attached accounts. Approved b¥jh&boaFd￿f es on I l June 2025 and are signed on their behalf by: (R. Subden) TRUSTEE LOUTH NAVIGATION TRUST LIMITED LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 Unrestric¢¢d Fund 2025 Total Funds 2025 Totsl Funds 2024 INCOMING RESOURCES: Note Incoming resources from generated funds Voluntary Income Activities for Generating Funds Investment Income 100897 323 100897 323 16014 646 TOTAL NCOMING RESOURCES 101220 101220 16667 RESOURCE EXPENDED Charitable activities Governance cosrs TOTAL RESOURCES EXPENDED 98970 98970 15975 98970 98970 15975 NET tNCOM]NG RESOURCES 2250 2250 692 RECONCILIATION OF FUNDS Funds brou8ht forward 20597 20597 19905 TOTAL FUNDS CARRJED FORWAILD 22847 22847 20597 The company has no recognised gains or losses other than the results for the year as set out above, All of the activities of the company are classed as continuing. LOUTH NAVIGATION TRUST LIMtTED LIMtTED BY GUARANTEE BALANCE SHEET FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 Notes FIXED ASSETS Land 2580 2580 CURRENT ASSETS Stocks Cash at bank and in hand 2530 17737 2536 15481 20267 18017 CREDITORS: Amounts falling due within one year NET CURRENT ASSETS 20267 18017 TOTAL ASSETS LESS CURRENT LIABILITIES 22847 20597 FUNDS Unrestricted 22847 20597 22847 20597 The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 st March 2025. The members have not required the company io obtain an audit of its financial statements for the year ended 31 st March 2025 in accordanc¢ with Section 476 of the Companies Ac12006. The trusiees acknowledge their responsibilities for: (a) ensuring that the company keeps accouniing records which comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing fmancial statements which give a true and fair view of the stale of affairs of the charity as at the end of each financial year and of its surplus or deficit for each fmancial year in accordance with th¢ requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to ihe charity. The financial statements have been PT¢pared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. In ts were approved by the board of trustees on I l June 2025 and are signed on their behalf by: R Subden PJHunr Company Registration Number: 6128940 LOUTH NAVIGATION TRUST LIMtTED LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES The principal accounting policies are summarised below. The accounting policies have been applied consistently through the year and in the preceding year. Basis of Accounting These financial stslements have been prepared in accordance with the provisions of Seclion IA 'Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006, The fmanGial statements have been prepared under the historical cost ¢onv¢ntion. Cash flow statements The trustees have taken advantage of the exemption from including a cash flow statement in the financial statements on the grounds that the charity is small. Ineoming resources Income represents income from donations, together with recovered tax reclaimed under gift aid. Income from donations is included in incoming resources when it is received. No donors have imposed conditions which have to be fulfilled before the trustees become entitled to use such income, and hence the charity has no restricted funds, All other income is recognised in the statement of fman¢ial activities when it is received. Resources expended All expenditure is accounted for on an arising basis and has been classified under headings in the Statement of Financial Activities, with value added included with the item of expense to which it relates. Fixed assers are recorded at cost less accumulated deprecialion. Assets over £100 are capitalised and depreciation is calculaled so as to write off the cost of an asset, less ils estimated residual value, over the useful economic life of that asset. VOLUNT AR Y INCOME Unrestrlcted Funds Total Funds 2025 Totsl Funds 2024 Membership Donations Grants Slipway Grant Christmas Market 388 16917 2320 80397 875 100897 388 16917 2320 80397 875 100897 689 1257 12462 1606 16014 A￿1VITIEs FOR GENERATING FU]YDS Unrestrieted Funds Total Funds 2025 Total Funds 2024 Sales Events 99 547 646 312 323 312 323 LOUTH IYAVIGATIOIY TRUST LlTrllTED LI1￿llTED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 INVESTMENT INCOME Unreslrleted Funds Totsl Fund$ 2025 Total Funds 2024 Bank Interest TOTAL RESOURCES EXPENDED Costs directly allocated to activities Total Funds 2025 Total Funds 2024 Subscriptions Insurance Canal Costs Telephone and Website Posiage and Stationery Sundries Warehouse Slock Write Down Slipway Austen Fen 73 965 4056 43 47 34 600 24 924 13285 67 608 13 600 93146 98970 403 15975 UNRESTRJCTED AND RESTRICTED FUNDS Balanee al l April 2024 Balanct ai 31 March 2025 Unrestricted Funds RELATED PARTY TRANSACTIONS Ther¢ were no related party transactions during the year. COMPANY LIMtTED BY GUARANTEE The company has no shares but is limited by guardnte¢.