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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 08379552 (England and Wales) REGISTERED CHARITY NUMBER: 1151117

Report of the Trustees and Financial Statements for the Year Ended 31 December 2021

for

Peter Le Marchant Trust (Registered number: 08379552)

Contents of the Financial Statements for the Year Ended 31 December 2021

Page
Report of the Trustees 1 to 8
Report of the Independent Auditors 9 to 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Financial Statements 13 to 23
Detailed Statement of Financial Activities 24 to 25

Peter Le Marchant Trust (Registered number: 08379552)

Report of the Trustees for the Year Ended 31 December 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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) (effective 1 January 2019).

BACKGROUND TO THE CHARITY

Peter Le Marchant died very young in the early '70s. His sister Clare searched for some time to find the best way to commemorate his life. On a trip on a friend's canal boat in 1973, she hit on the idea of building a boat for the disabled. That friend was a founder Trustee and, having resigned as a Trustee, took over the running of the Trust in 2002.

The first boat was a 40' narrowboat called "Matilda"; she carried her first 12 passengers in 1976.

As a result of the success of that first year, the Trust was formed in early 1977.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal objects of the Charitable Company, as outlined in the memorandum of association, are:

The Charitable Company has the general aim of contributing to the quality of life of the physically and mentally disabled and seriously-ill people of all ages from all over the country by the provision of boating day trips and holidays. It is believed that the therapeutic effects of a day or a holiday on the water on a mentally or physically disabled person are immeasurable.

Our activities and our boats

The charity operates three boats:

SYMPHONY

Symphony is our day boat which is equipped to take groups of up to 26 people including up to 10 standard wheelchairs. There is a wheelchair friendly hydraulic lift and specially designed toilets onboard.

The low level windows allow for easy viewing of the surroundings as we drift along the river. The boat is equipped with life jackets and crewed by an experienced Skipper with a Boatmasters Licence and our staff who will provide with information and assistance throughout the trip.

SERENADE

Serenade is our holiday boat which can take up to 10 passengers for four night holidays. Serenade is designed and equipped to accommodate groups of disabled and/or seriously ill people. It is specially designed to accommodate wheelchair users and has an experienced Skipper with a Boatmasters Licence. There are hydraulic lifts fitted, special designed showers and toilet facilities and central heating throughout. The boat has 10 standard sized beds with four top bunks with bedding provided allowing for comfort and privacy on your trips. The boat is equipped with life jackets and there are low level windows so that all can enjoy the surroundings.

Page 1

Peter Le Marchant Trust (Registered number: 08379552)

MELODY

Melody is our 65 foot narrowboat which is available for weekly hire by a family or group with a disabled or seriously ill member. The boat is specially designed and can sleep a maximum of eight people and can take a manual wheelchair. There are two hydraulic lifts at the front and the rear of the boat and operates with a tiller steering system which allows for ease of operation. Side hatches can be opened on sunny days to take in the full surroundings. The boat is equipped with two toilets and one shower and has television and DVD facilities. The boat is equipped with life jackets and buoyancy aids for safety. Melody was sold in November 2021 and has been replaced by Jubilee in June 2022.

Young Peoples Project - Objectives.

Public benefit

In deciding what activities to undertake the Trustees have had regard to the guidance of the Charity Commission. Our main activities and whom we try to help are described within the charitable activities below along with the achievements of delivering public benefit. All our charitable activities focus on improving the quality of life

of our passengers and their families by providing the opportunity to enjoy a distinctly different day out or holiday.

Investment powers

In furtherance of the objects of the Charitable Company, the Trustees have the following investment powers:

Page 2

Peter Le Marchant Trust (Registered number: 08379552)

Report of the Trustees for the Year Ended 31 December 2021

ACHIEVEMENT AND PERFORMANCE Charitable activities

2021 was dominated by:

Boat Trips 2021

Our charity began to run canal boat trips from July 2022, over the year we ran nearly 200 trips and served over 2,700 passengers as detailed below:

Month Total Trips Total Passengers Passenger Trip Types
July 25 375 10 - Disabled, 5 Older People, 10- Social/Community/
Faith
August 32 480 10- Disabled, 9 Older People, 13 Social/Community/
Faith
August- 12 180
Summer/
Pirates
September 32 480 15- Disabled, 8 Older People, 9 Social/Community/
Faith
October 27 405 10 Disabled, 10 Older People, 7 Social/Community/
Faith
October- 7 69
Wellbeing
October- 10 150
Colours of
Autumn
December- 48 600
Santa Trips
Totals 193 2,739 45 Disabled, 32 Older People, 40 Social/
Community/ Faith

Young Peoples Project.

Our new Young People's Coordinator Angie Whitmore joined the team in March 2021. After her induction she has been responsible for initiating and delivering a range of young people's projects including:

Page 3

Peter Le Marchant Trust (Registered number: 08379552)

Report of the Trustees for the Year Ended 31 December 2021

ACHIEVEMENT AND PERFORMANCE Grants and Fundraising

On funding and grants we:

Other Activities

Staff and Office

We ran the furlough scheme for our staff up to September 2021. In January 2021 our Operation Manager\Skipper left the charity.

Over 2021 we took the opportunity to improve our office systems by:

Boat Maintenance and Workshop

We undertook a range of initiatives over 2021 including:

New Boat Project

Over 2021 we were committed to the project to refurbish our self-hire boat Melody. This being done at Redhill Marina after a comprehensive survey was completed by Ovation Boating providing an initial Action Plan.

However, we applied to both the Mark Masons Benevolent Fund and Leicestershire Masons Community Fund to significantly increase our funding levels to enable our charity to procure a new self-hire boat.

This enabled the charity to set up a comprehensive Action Plan and recruit Michael and Trudie Base to fit out and build our new canal boat in our canopy over 2022 and select HT Fabrications to construct our hull for the new boat.

Page 4

Peter Le Marchant Trust (Registered number: 08379552)

Report of the Trustees for the Year Ended 31 December 2021

ACHIEVEMENT AND PERFORMANCE Meet Our Team

Over 2021 due to the closure of the charity because of the covid pandemic the staff team were furloughed for a considerable period over the year. During the previous year and start of this year, due to the significant demise of income, we concentrated our efforts on funding and grants and regular communication with our volunteers, partners, and customers.

The Trustees are conscious 2021 was a very challenging year and wish to thank the staff: Tim Marren, Chief Executive Officer, Chris Morton, the Operations manager/Skipper for part of the year, Denise Adamson, part-time Administrator, Melissa Hemmings, part-time Development Worker and Angie Whitmore, Young Peoples Project Co-ordinator, for their considerable contribution to charity during the year.

FINANCIAL REVIEW

Reserves policy

At the year end the Charity had unrestricted reserves of £472,901 (2020: £420,885) and restricted reserves of £277,846 (2020: £334,214) amounting to a total of £750,747 (2020: £755,182). Of the reserves held by the charity, £270,618 (2020: £295,303) relates to the tangible fixed assets of the charity used to carry out its charitable objectives. Therefore the unrestricted 'free reserves' available to the charity to spend on its charitable activities are £202,283 (2020: £125,582).

The Charity's policy remains to retain sufficient reserves to ensure the continuation of its activities for the foreseeable future whilst the Trustees also recognise the need to maintain sufficient reserves to safeguard against the operational risk faced by the charity relating to the replacement and maintenance of the boats.

In delivering the Charity's activities and achieving it's objectives, the Charity relies on the boats that carry the passengers. These boats are subject to regular maintenance and repair but should a boat require a major repair or replacement this would be a large cost to the charity. The boats are all comprehensively insured up to their market value but the market value of the current boats is significantly below the cost of a new boat. Due to the integral part that the boats have in delivering the objectives and benefit to the public, the Trustees feel that it is prudent to maintain reserves in order to bridge the gap between the current market value and the replacement cost.

To this end, the Trustees have designated £100,000 of reserves as a capital reserve to be used on large repair or replacements of its boats. It is estimated that the difference between insurance proceeds and the cost of three new boats would be £395,000.

The Trustees aim to hold sufficient reserves to cover 12 months of the charity's expenditure within unrestricted reserves and to increase the capital replacement fund in order to safeguard the operations of the charity.

During the period ended 31 December 2021 the Company had a deficit of £4,435 (2020: surplus of £260,993). Without the grant income and donations in the period the charity would have generated a deficit of £111,416 (2020: £119,299) which highlights the importance of the ongoing support of its donors and funders.

In order to continue the charity's continued existence and success annual fund raising needs to cover the operational costs £183,003 (2020: £193,888) less the charges for boat hire £15,207 (2020: £8,057).In the current economic climate this is a daunting task and the trustees are grateful for the encouragement of all those involved in the workings of the Trust which include opening and strengthening relationships with users and supporters, fund raising to meet our operating costs, and the general enhancement of the purposes of the Charity.

FUTURE PLANS

Our plans over 2021/2 include:

Page 5

Peter Le Marchant Trust (Registered number: 08379552)

Report of the Trustees for the Year Ended 31 December 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The Limited Company Charity is controlled by its governing document, a memorandum of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisation

The Board of Trustees, as set out above, governs the charity. The Board is required to hold at least two meetings in each calendar year. The Trustees have appointed a Management Committee to oversee the day-to-day administration of the charity, within the terms of reference laid down by the Trustees.

Recruitment and appointment of new trustees

The appointment of any new Trustee is at the discretion of the existing Trustees and is subject to their unanimous approval. New Trustees are chosen for the skills and enthusiasm that they bring to the Company.

Organisational structure

The Board of Trustees delegates the day-to-day running of the Company to the Chief Executive Officer who reports to the Management Committee, which consists of three Trustees, via telephone or email if urgent decisions are required. All Management Committee decisions are ratified at the next meeting of the full Board of Trustees.

Induction and training of new trustees

New Trustees are encouraged to take days out on the day-boat, as well as spending time in the office. This gives them the opportunity to see for themselves how the organisation operates and to be able to speak to the staff, Volunteers and our passengers.

Key management remuneration

The Trustees consider the role and responsibilities of key management personnel and review the remuneration package in line with similar entities. Annual appraisals and pay reviews on key management personnel are undertaken based on the individual's performance of their duties and fulfilment of the objectives of the charity in the period.

Risk Assessment

As will be seen from the following paragraphs, the major risks to which the Company might be exposed are reviewed regularly by the Trustees. Systems and procedures are in place to manage such risks.

General: The safety and well-being of our passengers has always been the first priority of the Company, long before present legislation was introduced. The Charity is regulated by the Maritime & Coastguard Agency as well as the Health & Safety Executive and Canal & River Trust. With these regulatory bodies and our insurers in mind, the Company has developed a rigorous, comprehensive and well-documented Risk Assessment Policy, which is constantly under review. This includes guidance and mandatory training under the MCA Regulations for Volunteer Skippers and crews as well as for the permanent staff. A Trustees' Indemnity Policy is also in force.

Financial risk:

It is the objective of the Trustees to maintain prudent reserves are maintained in order to balance out the inevitable fluctuations in donated income from year to year (see Reserves policy).

Page 6

Peter Le Marchant Trust (Registered number: 08379552)

Report of the Trustees for the Year Ended 31 December 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 08379552 (England and Wales)

Registered Charity number 1151117

Registered office

15 Newland Lincoln Lincolnshire LN1 1XG

Trustees

Rev P C Le Marchant-Connell P Donert Mrs S A Richards (resigned 27.1.21) Mrs V Francklin C S D Moore T S Hanmer Mrs E J Martin DL R N J S Price Mrs C C Phillips (appointed 31.8.21)

Auditors

Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG

Bankers

HSBC PLC PO Box 13 41 Market Place Loughborough LE11 3EJ

Key management

T Marren- Chief Executive Officer

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Peter Le Marchant Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

Page 7

Peter Le Marchant Trust (Registered number: 08379552)

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Approved by order of the board of trustees on 22 September 2022 and signed on its behalf by:

Rev P C Le Marchant-Connell - Trustee

Page 8

Peter Le Marchant Trust (Registered number: 08379552)

Report of the Independent Auditors to the Members of Peter Le Marchant Trust (Registered number: 08379552)

Opinion

We have audited the financial statements of Peter Le Marchant Trust (the 'charitable company') for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you

if, in our opinion:

Page 9

Peter Le Marchant Trust (Registered number: 08379552)

Report of the Independent Auditors to the Members of Peter Le Marchant Trust (Registered number: 08379552)

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Colcomb FCCA - Senior Statutory Auditor for and on behalf of Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG

Date: 22 September 2022

Page 10

Peter Le Marchant Trust (Registered number: 08379552)

Statement of Financial Activities for the Year Ended 31 December 2021

Unrestricted
Unrestricted
Capital
funds
Fund
Notes
£
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
3
67,281
-
Charitable activities
Boat hire
15,207
-
Young Peoples Project
8,919
-
Other trading activities
4
6,544
-
Investment income
5
11
-
Other income
7
40,906
-
Total
138,868
-
EXPENDITURE ON
Raising funds
14,920
-
Charitable activities
8
Boat hire
97,410
-
Young Peoples Project
8,708
-
Other
-
-
Total
121,038
-
NET INCOME/(EXPENDITURE)
17,830
-
Transfers between funds
20
34,103
-
Net movement in funds
51,933
-
RECONCILIATION OF FUNDS
Total funds brought forward
320,968
100,000
TOTAL FUNDS CARRIED
FORWARD
372,901
100,000		 Restricted
funds
£
39,700
-
-
-
-
-
39,700
3,900
11,809
46,256
-
61,965
(22,265)
(34,103)
(56,368)
334,214
277,846		 2021
Total
funds
£
106,981
15,207
8,919
6,544
11
40,906
178,568
18,820
109,219
54,964
-
183,003
(4,435)
-
(4,435)
755,182
750,747		 2020
Total
funds
£
380,292
8,057
2,047
5,751
118
58,616
454,881
26,191
162,834
3,663
1,200
193,888
260,993
-
260,993
494,189
755,182

The notes form part of these financial statements

Page 11

Peter Le Marchant Trust (Registered number: 08379552)

Balance Sheet 31 December 2021

Notes
FIXED ASSETS
Intangible assets
15
Tangible assets
16
CURRENT ASSETS
Stocks
17
Debtors
18
Cash at bank and in hand
CREDITORS
Amounts falling due within one
year
19
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
NET ASSETS
FUNDS
20
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds

£
13,200
257,418
270,618
3,058
40,970
66,424
110,452
(8,169)
102,283
372,901
372,901		 Unrestricted
Capital
Fund
£
-
-
-
-
-
100,000
100,000
-
100,000
100,000
100,000		 Restricted
funds
£
-
-
-
-
137,629
140,217
277,846
-
277,846
277,846
277,846		 2021
Total
funds
£
13,200
257,418
270,618
3,058
178,599
306,641
488,298
(8,169)
480,129
750,747
750,747
472,901
277,846
750,747		 2020
Total
funds
£
16,800
278,503
295,303
3,984
211,842
263,923
479,749
(19,870)
459,879
755,182
755,182
420,968
334,214
755,182

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 22 September2022 and were signed on its behalf by:

P Donert - Trustee

P C Le Marchant-Connell - Trustee

The notes form part of these financial statements

Page 12

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Peter Le Marchant Trust is a private company, registered in England and Wales. The company's registered number and registered office address can be found on the reference and administrative details, which is within the report of the trustees.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Expenditure is included on an accruals basis. Where costs cannot be directly attributed to a particular category, they are allocated on an estimates of staff time spent on the relevant role.

Fund raising costs include direct fundraising expenditure and 30% (2020: 30%) of the administrative salaries.

The costs of charitable activities include boat expenses, skippers' salaries, 50% (2020: 50%) of administrative salaries, boat and office equipment depreciation and general overheads.This also includes governance costs which includes further 20% (2020: 20%) of administrative salaries.

The costs are allocated against the relevant charitable activities on the basis of staff time spent between activities as follows:

Young
People's
Boat Hire Project
Overheads and office salaries 90% 10%

Intangible fixed assets

Intangible fixed assets are amortised over 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold mooring land - not provided
Improvements - 2% on cost
Boats - 5% on reducing balance
Boat equipment - 5% on reducing balance
Other equipment - 10% on reducing balance
Computer equipment - 25% on cost

Page 13

continued...

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Government grants

Grants relating to the Coronavirus Job Retention Scheme are recognised in full in the period in which the associated salary, national insurance and pension costs were incurred.

3.

DONATIONS AND LEGACIES

Donations
Legacies
Grants and donations
Grants received, included in the above, are as follows:
National Lottery
Didymus Trust
Groundwork
Charnwood Council
Baron Davenport
Leicester Communities
The Carlton Hayes Mental Health Charity
The Mark Benevolent Fund
Leicestershire Shire Grant
Hedley Foundation
Provincial Grand Lodge Masons Leicestershire & Rutland
East Midlands Airport Community Fund
Sir Andrew Martin Trust
Lady Hind Trust
Grey Court Trust
The Dunn Family Trust
The Bruce Wake Foundation
D P Corah Trust
Sir John Eastwood Trust
Other grants		 2021
£
9,679
22,501
74,801
106,981
2021
£
-
-
-
1,450
-
-
-
25,000
-
3,000
7,000
1,500
1,000
5,000
5,000
3,000
2,500
2,000
2,000
16,351
74,801		 2020
£
10,418
25,000
344,874
380,292
2020
£
223,261
5,000
500
1,200
200
4,000
3,000
35,250
6,700
-
-
-
-
-
-
-
-
-
-
65,763
344,874

Page 14

continued...

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

4. OTHER TRADING ACTIVITIES

Fundraising events
Shop income
Canopy income
5.
INVESTMENT INCOME
Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Boat hire contributions
Boat hire
Seasonal trips
Young Peoples Project
7.
OTHER INCOME
Other income
Government grants		 2021
£
335
1,049
5,160
6,544
2021
£
11
2021
£
15,207
8,919
24,126
2021
£
1,005
39,901
40,906		 2020
£
1,238
123
4,390
5,751
2020
£
118
2020
£
8,057
2,047
10,104
2020
£
1,219
57,397
58,616

During the year, the charity received Coronavirus Job Retention Support grants amounting to £22,471 (2020: £47,397). The charity also received a small business grants and discretionary support grants amounting to £17,340 (2020: £10,000).

8. CHARITABLE ACTIVITIES COSTS

Boat hire
Young Peoples Project		 Direct
Costs (see
note 9)
£
30,864
46,256
77,120		 Support
costs (see
note 10)
£
78,355
8,708
87,063		 Totals
£
109,219
54,964
164,183

Page 15

continued...

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

9. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Advertising
Repairs and upkeep of boats
Boat insurance
Co-ordinator costs
Project supplies
Depreciation
Loss on sale of assets		 2021
£
47,063
-
20,121
1,779
12,767
950
2,973
(8,533)
77,120		 2020
£
37,743
471
10,411
4,326
671
558
3,223
-
57,403

10. SUPPORT COSTS

SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Boat hire 59,604 18,751 78,355
Young Peoples Project 6,624 2,084 8,708
66,228 20,835 87,063
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2021 2020
£ £
Depreciation - owned assets 5,782 5,569
Surplus on disposal of fixed assets (8,533) -
Website costs amortisation 3,600 1,200
AUDITORS' REMUNERATION
Year ended Year ended
31.12.21 31.12.20
Auditors' remuneration 3,000 5,065
Auditors' remuneration for non-audit work 4,668 3,834

11. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

12. AUDITORS' REMUNERATION

13. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Page 16

continued...

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

14. STAFF COSTS

Total employee costs are analysed between the following:

Wages/salaries
Social security
Pension		 Year Ended
31.12.21
103,449
5,456
1,894
110,799		 Year ended
31.12.20
107,405
5,394
1,481
114,280

The average number of employees for the period was 4 (2020: 5) and none were paid more than £60,000 within the period.The total remuneration paid to key management personnel in the year totalled £52,530 (2020: £51,840). This consisted of Gross wages of £46,350 (2020: £46,350), Employer's NIC of £5,177 (2020: £5,189) and Employer's pension contributions of £1,003 (2020: £301).

15. INTANGIBLE FIXED ASSETS

COST
At 1 January 2021 and 31 December 2021
AMORTISATION
At 1 January 2021
Charge for year
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020		 Website
costs
£
18,000
1,200
3,600
4,800
13,200
16,800

16. TANGIBLE FIXED ASSETS

COST
At 1 January 2021
Additions
Disposals
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for year
Eliminated on disposal
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020		 Freehold
mooring
land
Improvements
£
£
155,524
63,272
-
-
-
-
155,524
63,272
-
9,788
-
1,265
-
-
-
11,053
155,524
52,219
155,524
53,484		 Boats
£
79,196
-
(31,292)
47,904
25,974
2,572
(11,225)
17,321
30,583
53,222

Page 17

continued...

Peter Le Marchant Trust (Registered number: 08379552) Notes to the Financial Statements - continued for the Year Ended 31 December 2021

16. TANGIBLE FIXED ASSETS - continued

Boat
equipment
£
COST
At 1 January 2021
11,406
Additions
-
Disposals
-
At 31 December 2021
11,406
DEPRECIATION
At 1 January 2021
3,386
Charge for year
401
Eliminated on disposal
-
At 31 December 2021
3,787
NET BOOK VALUE
At 31 December 2021
7,619
At 31 December 2020
8,020
17.
STOCKS
Stocks
18.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Asset under construction
Prepayments and accrued income
19.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses		 Other
equipment
£
15,335
1,743
-
17,078
7,489
799
-
8,288
8,790
7,846		 Computer
equipment
£
2,097
3,021
-
5,118
1,690
745
-
2,435
2,683
407
2021
£
3,058
2021
£
430
11
31,632
146,526
178,599
2021
£
-
2,113
318
5,738
8,169		 Totals
£
326,830
4,764
(31,292)
300,302
48,327
5,782
(11,225)
42,884
257,418
278,503
2020
£
3,984
2020
£
330
11
4,963
206,538
211,842
2020
£
3,770
2,507
-
13,593
19,870

Page 18

continued...

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

20. MOVEMENT IN FUNDS

Unrestricted funds
General Fund
Unrestricted Capital Fund
Naval Architects Reserve
Restricted funds
St James's Place Foundation
The Jones 1986 Charitable Trust
Charnwood Council
Loughborough Univeristy Young people
project
Hedley Foundation
Boshier-Hinton
RYA Foundation
H D H Wills
Rank Foundation
Groundwork UK
Charlottle Bonham-Carter Charitable Trust
Sir Andrew Martin Trust
Baron Davenport
The Mark Benevolent Fund
Leicester Communities
The Calton Hayes Mental Health Charity
Didymus Trust
National Lottery Grant
Leicestershire Shire Grant
Hedley Foundation- Mental Health
East Midlands Airport Community Fund
Mark Masons Hall- Melody
Charnwood Mental Health
Provincial Grand Lodge Masons
Leicestershire and Rutland- Melody Grant
Sir Andrew Martin Trust
Other
TOTAL FUNDS		 At 1.1.21
£
310,968
100,000
10,000
420,968
1,000
5,000
4,175
446
2,000
2,000
1,682
35,000
1,000
1,500
1,800
1,000
400
35,250
4,000
3,000
5,000
223,261
6,700
-
-
-
-
-
-
-
334,214
755,182		 Net
movement
in funds
£
17,830
-
-
17,830
-
(1,932)
(3,510)
-
-
-
-
-
-
-
-
-
-
(7,947)
(4,642)
(3,000)
(2,535)
(30,589)
(6,684)
2,880
1,500
25,000
1,200
7,000
(6)
1,000
(22,265)
(4,435)		 Transfers
between
funds
£
34,103
-
-
34,103
-
-
-
-
-
-
(1,682)
(5,692)
-
-
-
-
-
(22,080)
642
-
(2,465)
-
-
(1,332)
(1,500)
-
-
-
6
-
(34,103)
-		 At
31.12.21
£
362,901
100,000
10,000
472,901
1,000
3,068
665
446
2,000
2,000
-
29,308
1,000
1,500
1,800
1,000
400
5,223
-
-
-
192,672
16
1,548
-
25,000
1,200
7,000
-
1,000
277,846
750,747

Page 19

continued...

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

20. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Restricted funds
The Jones 1986 Charitable Trust
Charnwood Council
The Mark Benevolent Fund
Leicester Communities
The Calton Hayes Mental Health Charity
Didymus Trust
National Lottery Grant
Leicestershire Shire Grant
Hedley Foundation- Mental Health
East Midlands Airport Community Fund
Mark Masons Hall- Melody
Charnwood Mental Health
Provincial Grand Lodge Masons
Leicestershire and Rutland- Melody Grant
Sir Andrew Martin Trust
Other
TOTAL FUNDS		 Incoming
resources
£
138,868
-
-
-
-
-
-
-
-
3,000
1,500
25,000
1,200
7,000
1,000
1,000
39,700
178,568		 Resources
Movement
expended
in funds
£
£
(121,038)
17,830
(1,932)
(1,932)
(3,510)
(3,510)
(7,947)
(7,947)
(4,642)
(4,642)
(3,000)
(3,000)
(2,535)
(2,535)
(30,589)
(30,589)
(6,684)
(6,684)
(120)
2,880
-
1,500
-
25,000
-
1,200
-
7,000
(1,006)
(6)
-
1,000
(61,965)
(22,265)
(183,003)
(4,435)

Page 20

continued...

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

20. MOVEMENT IN FUNDS- Comparatives for movement in funds

At 1.1.20
£
Unrestricted funds
General Fund
309,885
Unrestricted Capital Fund
100,000
Naval Architects Reserve
10,000
419,885
Restricted funds
St James's Place Foundation
1,000
The Jones 1986 Charitable Trust
5,000
Charnwood Council
4,176
Loughborough Univeristy Young people project
446
Hedley Foundation
2,000
Boshier-Hinton
2,000
RYA Foundation
1,682
H D H Wills
35,000
Rank Foundation
1,000
Groundwork UK
1,000
Charlottle Bonham-Carter Charitable Trust
1,800
Sir Andrew Martin Trust
1,000
Baron Davenport
200
Transform Foundation
18,000
The Mark Benevolent Fund
-
Leicester Communities
-
The Calton Hayes Mental Health Charity
-
Didymus Trust
-
National Lottery Grant
-
Leicestershire Shire Grant
-
74,304
TOTAL FUNDS
494,189
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General Fund
Restricted funds
Charnwood Council
Groundwork UK
Baron Davenport
The Mark Benevolent Fund
Leicester Communities
The Calton Hayes Mental Health Charity
Didymus Trust
National Lottery Grant
Leicestershire Shire Grant
TOTAL FUNDS		 Net
movement
in funds
£
(16,889)
-
-
(16,889)
-
-
(29)
-
-
-
-
-
-
500
-
-
200
-
35,250
4,000
3,000
5,000
223,261
6,700
277,882
260,993
Incoming
resources
£
175,770
1,200
500
200
35,250
4,000
3,000
5,000
223,261
6,700
279,111
454,881		 Transfers
between
funds
£
17,972
-
-
17,972
-
-
28
-
-
-
-
-
-
-
-
-
-
(18,000)
-
-
-
-
-
-
(17,972)
-
Resources
expended
£
(192,659)
(1,229)
-
-
-
-
-
-
-
-
(1,229)
(193,888)		 At
31.12.20
£
310,968
100,000
10,000
420,968
1,000
5,000
4,175
446
2,000
2,000
1,682
35,000
1,000
1,500
1,800
1,000
400
-
35,250
4,000
3,000
5,000
223,261
6,700
334,214
755,182
Movement
in funds
£
(16,889)
(29)
500
200
35,250
4,000
3,000
5,000
223,261
6,700
277,882
260,993

Page 21

continued...

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2021

20. MOVEMENT IN FUNDS - continued

Restricted Funds:

Young People's Project:

The following funding was received for the Young People's Project: St James' Place Foundation

Charnwood Council Loughborough University Hedley Foundation Boshier-Hinton Rank Foundation Groundwork UK

Charlotte Bonham Carter Charitable Trust Sir Andrew Martin Trust Baron Davenport Leicestershire Shire Grant National Lottery Grant

The Jones 1986 Charitable Trust- For use in Nottinghamshire only

Melody Refurbishment Project

The following funds were received for the refurbishment of Melody:

The Mark Benevolent Fund Mark Masonic Hall Provincial Grand Lodge Masons of Leicestershire and Rutland

Other Restricted Funds:

Royal Yachting Association (RYA)

This was a donation for the costs incurred on boat toilets.

HDH Wells

This fund arose from a donation towards a new boat.

Hedley Foundation- Mental Health

This fund arose from a donation towards mental health trips.

Charnwood Borough Council- Mental Health

This fund arose from a donation towards mental health trips.

Other

This was a donation from a charity that must benefit Nottinghamshire.

Unrestricted Funds

Unrestricted Capital Fund

The Trustees' have designated £100,000 to this fund to cover all large repairs and replacements of boats in the future in order to safeguard the operations of the charity's activities and delivery of its objectives.

Naval Architects Fund

The Trustees' designated monies to cover the estimated costs of the architects in relation to the new boat acquisition.

Transfers between funds

RYA Foundation

A transfer of £1,682 was made from RYA Foundation to general funds to reimburse for costs on the toilets paid for by the unrestricted funds.

H D H Wills

A transfer of £5,692 was made from H D H Wills funds to general funds as the monies had been spent on new boat expenses in line with the grant and there were no ongoing restrictions over the amount spent.

Page 22

continued...

Peter Le Marchant Trust (Registered number: 08379552)

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

20. MOVEMENT IN FUNDS - continued

Transfers between funds - continued

The Mark Benevolent Fund

A transfer of £640 was made from the Mark Benevolent Fund to general funds for costs relating to the Melody refurbishment paid out of unrestricted funds.

Didymus Trust

A transfer of £2,465 was made from Didymus Trust funds to general funds as the monies had been spent on office equipment in line with the grant and there were no ongoing restrictions over the amount spent.

East Midlands Airport Community Fund

A transfer of £1,500 was made from East Midlands Airport Community funds to general funds as the monies had been spent on CCTV equipment in line with the grant and there were no ongoing restrictions over the amount spent

Hedley Foundation- Mental Health

A transfer of £1,332 was made from Hedley Foundation Mental Health funds to general funds to recognise the costs of boat trips for the project.

All other transfers between funds relate to the support from general funds of the overspend on restricted funds.

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

Page 23

Peter Le Marchant Trust (Registered number: 08379552)

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Legacies
Grants and donations
Other trading activities
Fundraising events
Shop income
Canopy income
Investment income
Deposit account interest
Charitable activities
Boat hire contributions
Seasonal trips
Other income
Other income
Government grants
Total incoming resources
EXPENDITURE
Other trading activities
Purchases
Wages
Social security
Pensions
Charitable activities
Wages
Social security
Pensions
Advertising
Repairs and upkeep of boats
Boat insurance
Co-ordinator costs
Project supplies
Depn of boats and equipment
Loss on sale of tangible fixed assets		 Detailed Statement of Financial Activities
for the Year Ended 31 December 2021
 2021
£
9,679
22,501
74,801
106,981
335
1,049
5,160
6,544
11
15,207
8,919
24,126
1,005
39,901
40,906
178,568
1,171
17,359
(145)
435
18,820
45,207
1,571
285
-
20,121
1,779
12,767
950
2,973
(8,533)
77,120		 2020
£
10,418
25,000
344,874
380,292
1,238
123
4,390
5,751
118
8,057
2,047
10,104
1,219
57,397
58,616
454,881
303
24,415
1,207
266
26,191
35,780
1,369
594
471
10,411
4,326
671
558
3,223
-
57,403

This page does not form part of the statutory financial statements

Page 24

Peter Le Marchant Trust (Registered number: 08379552)
Detailed Statement of Financial Activities
for the Year Ended 31 December 2021
Support costs
Management
Wages
Social security
Pensions
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Premises expenses
Development costs
Depn of improvements and fixtures
Governance costs
Wages
Social security
Pensions
Auditors' remuneration
Auditors' remuneration for non-audit work
Total resources expended
Net (expenditure)/income		 2021
£
28,931
3,263
726
5,111
3,606
1,255
5,677
8,798
2,451
3,600
2,810
66,228
11,572
1,305
290
3,000
4,668
20,835
183,003
(4,435)		 2020
£
40,691
2,012
443
2,899
3,326
1,514
3,377
25,830
498
1,200
2,346
84,136
16,277
805
177
5,065
3,834
26,158
193,888
260,993

This page does not form part of the statutory financial statements

Page 25