REGISTERED COMPANY NUMBER: 08379552 (England and Wales) REGISTERED CHARITY NUMBER: 1151117
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024
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Wright Vigar Limited Chartered Accountants & Business Advisers Morton House 12 Appletongate Newark Nottinghamshire NG24 1JY
Peter Le Marchant Trust
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 to 12 |
| Notes to the Financial Statements | 13 to 21 |
Peter Le Marchant Trust (Registered number: 08379552)
Report of the Trustees for the Year Ended 31 December 2024
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 2024. 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
The Peter Le Marchant Trust was founded by Clare Le Marchant Connell, to honour the memory of her brother, Peter, who died very young in the early 1970s. It was on a friend's canal boat in 1973, when Clare was inspired to build a bespoke boat for people living with physical disabilities, particularly to accommodate wheelchair users. 'Matilda' was the first of the Trust's narrowboats, carrying 12 passengers in 1976, and in 1977, after the success of her first year on the water, the Peter Le Marchant Trust was formed. The Trust now has 3 boats, Symphony, Serenade, and Jubilee, that provide day trips, seasonal trips, well-being trips, and self-hire boat holidays, to hundreds of passengers every year, with over 5,850 people enjoying trips in 2024. The Trust also offers young people training, mentoring and opportunities to learn valuable new skills at its canalside base in Loughborough.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the Charitable Company, as outlined in the Memorandum and Articles of Association, are for the benefit of the public:
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Such charitable purposes for the relief of children and young persons under twenty-one years of age who are in conditions of need, hardship or distress and of the poor, the physically disabled and the mentally disabled as the Trustees may determine.
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The provision of facilities for recreation or other leisure-time occupation in the interests of social welfare for the classes of persons mentioned in the above sub-clause with the object of improving the conditions in life of such persons who by reason of their youth, age, poverty, social or economic circumstances or their mental or physical disability have need for such facilities.
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For such other purposes as shall be exclusively charitable as the Trustees may from time to time decide.
The Charitable Company has the general aim of contributing to the quality of life of people of all ages from across the UK, who are physically disabled, seriously ill or who have mental health conditions, by providing day boat trips and self-hire holiday boats. In the last 20 years, the positive effects of 'blue health' have become widely acknowledged as offering significant therapeutic effects.
Our activities and our boats
The charity operated three boats in the period with:
SYMPHONY & SERENADE
Symphony and Serenade are our day boats which are 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 along the river. The boats are equipped with life jackets and crewed by an experienced skipper with a Boatmasters Licence and our staff provide passengers with information and assistance throughout the trip.
JUBILEE
Jubilee is our new 60ft self-hire holiday canal boat, replacing Melody in 2022. It sleeps up to 6 people and is ideal for families and groups and is wheelchair friendly with a stern lift. Jubilee has been built bespoke to accommodate passengers with limited mobility and finished to a high standard. Jubilee has a clear access across the starboard side of the boat with a full-length handrail and an easy-to-use lift. The stern of the ship features a large outside deck area from which the boat is steered and where the whole party can enjoy socialising together. Following the year end the trustees made a decision to sell Jubilee and utilise the funds in other areas of the charity to gain greater benefit.
Public benefit
In deciding what activities to undertake the Trustees have had regard to the guidance of the Charity Commission on public benefit.
Our main activities and who 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, and welcoming day out or holiday.
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Peter Le Marchant Trust (Registered number: 08379552)
Report of the Trustees for the Year Ended 31 December 2024
OBJECTIVES AND ACTIVITIES Investment Powers
In furtherance of the objects of the Charitable Company, the Trustees have the following investment powers:
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To purchase suitable boats as may be considered necessary.
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To purchase any land or premises and to build facilities for storing the boats.
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To maintain and equip such land, premises and boats, including the provision of suitably qualified crews for the boats.
ACHIEVEMENT AND PERFORMANCE Charitable activities 2024
2024 was both a busy and challenging year for our charity. Over the season we successfully ran 355 canal boat trips, and served 5,883 passengers, as detailed in the tabulation below:
| Month | No and type of Trips | No of Passengers |
|---|---|---|
| March | -4 Mainstream-9 Seasonal | 121 |
| April | - 21 Mainstream- 3 Cream Teas- 5 Young People-9Wellbeing |
525 |
| May | - 20 Mainstream- 7 Young People- 24 Wellbeing |
740 |
| June | - 27 Mainstream- 3 Young People- 15 Wellbeing |
614 |
| July | -31 Mainstream-18 Wellbeing | 754 |
| August | - 26 Mainstream- 2 Wellbeing- 7 Young People-18 Seasonal |
1,014 |
| September | - 35 Mainstream- 2 Young People- 4 Wellbeing |
834 |
| October | - 14 Mainstream- 10 Seasonal- 4 Young People-4 Wellbeing |
621 |
| December | -33 Seasonal | 660 |
| Total | 355 | 5,883 |
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Peter Le Marchant Trust (Registered number: 08379552) Report of the Trustees for the Year Ended 31 December 2024
Our season was very much impacted by a combination of:
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Inclement weather.
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Flooding on both rivers and the canal network, especially causing increased debris.
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Damage to a key part of the canal network.
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The number of skippers available to run trips.
Despite these challenges our volunteers have run a very successful season of canal boat trips.
Seasonal Trips
We ran our ever popular and colourful seasonal trips over 2024. Including Easter, Summer Pirates, Colours of Autumn and our Santa Sleigh-boat trips. These trips are popular with both families as well as organisations supporting people living with disabilities such as Memphys and Miracles to Believe in. Over the season we ran 70 seasonal trips serving circa 1,000 passengers.
Wellbeing Trips
Over the season we continued to implement our popular and impactful wellbeing trip programme. We ran 76 of these trips which were both generic and themed, the latter including talks on the heritage of the local waterways, mindful yoga and sewing as well as foraging and photography. Supported by Public Health and the NHS these trips offer a unique opportunity for smaller groups and individuals to book a boat trip and enjoy the peace and tranquillity of the local waterways.
Young Peoples Project
Our Young Peoples Project has run:
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Four weeks of our popular "Introduction to Crewing" training session for over 50 young people.
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Over six weeks of popular "Unbox Your Future" training for young people with Sense College, John Fernley College in Melton Mowbray, Fusion Academy in Barwell, Ashmont School, Forrest Way School and Birkett House School in Loughborough. All these sessions received very positive feedback from the young people and schools who attended these sessions.
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We ran a successful Litter Pick on the 9th of May and organised 6 fishing sessions with the Canal and River Trust over the school holidays, seeing circa 60 + young people.
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We also managed a Young Person Work placement from Woodbrook Vale school over June receiving positive feedback from the young person involved.
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We held a Princes' Trust training session for two weeks over the summer supporting over 30 young people.
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We have also held three young people/family drop-in sessions at our base including engaging activities such as a climbing wall, archery and fishing coaching.
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We held a Family Open Day on 17th August including short boat trips, pedalos to hire, bouncy castle, crafts and food and coffee vendor seeing over 150 people come to our base.
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Peter Le Marchant Trust (Registered number: 08379552)
Report of the Trustees for the Year Ended 31 December 2024
Passenger Feedback
We had some very positive feedback from all our trips over 2024. Below is a small sample of this feedback:
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"Absolutely wonderful. The residents I brought couldn't stop talking about their amazing time. Thank you to the staff for making it so special."
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"A great day out for adults with learning disabilities. The crew was welcoming, and the fully accessible boat made the trip ideal for everyone"
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"One of the best Santa visits I have been on. Fantastic for the children, not commercial, good old-fashioned Santa trip, with so much time for Santa."
Jubilee
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Over 2024 our self-hire canal boat Jubilee had 9 holiday bookings. We worked closely with the London Inclusion Network who had a working holiday on Jubilee and reported findings on the holiday to all the organisations on the London Inclusion Network.
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We also advertised Jubilee on the Local Offer information/databases which are specifically set up for people living with physical disabilities in Leicestershire, Derbyshire, Birmingham, Shropshire and Nottinghamshire.
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We worked closely with the management company "We Stay" who promoted and advertised Jubilee on Booking.com and Vrbo as well as promoting Jubilee on Waterways Holidays.
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We ran two weeks of skippered and crewed special family/friends' trips on Jubilee over September and October. This included bespoke shorter trips and "Cream Tea" type boat trips.
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Peter Le Marchant Trust (Registered number: 08379552)
Report of the Trustees for the Year Ended 31 December 2024
Volunteers
Over 2024 we recruited and trained 15 new volunteers bringing our complement of volunteers up to 130. We also: - Successfully ran a week of Dementia training with the Alzheimer's Society over the latter part of July, training over 50 volunteers.
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Held a Family BBQ for volunteers on the 27th of July attended by over 75 volunteers. The event was a great success and very motivating for the team of volunteers behind organising the event.
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Based on volunteer feedback we are organising additional training over 2024 including, Knot and rope training, new crew starter training and lock management training.
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Met with the Loughborough in Bloom Judges leading to our award of "Outstanding" for the volunteer Gardening Team in November 2024.
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Peter Le Marchant Trust (Registered number: 08379552)
Report of the Trustees for the Year Ended 31 December 2024
FINANCIAL REVIEW
Reserves policy
At the year end the Charity had unrestricted reserves of £398,330 (2023: £468,410) and restricted reserves of £103,977 (2023: £131,238) amounting to a total of £502,307 (2023: £599,648). Of the reserves held by the charity, £334,634 (2023: £367,342) relates to the 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 £63,696 (2023: £101,068).
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 its 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 some reserves to help bridge the gap between the current market value and the replacement cost.
The Trustees aim to hold sufficient reserves to cover 12 months of the charity's expenditure within unrestricted reserves. 12 months of expenditure (after accounting for transfers to cover costs from restricted funds) represents £180,700 therefore the free reserves of the charity represent just over 4 months of unrestricted expenditure.
During the period ended 31 December 2024 the Company had a deficit of £97,341 including an exceptional impairment of £23,909. Excluding the impairment the charity would have realised a deficit of £73,432 (2023: £79,298). Without the grant income and donations in the period the charity would have generated a deficit of £164,754 (2023: £178,660) 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 £250,258 (2023: £268,808) less the charges for boat hire £55,758 (2023: £57,078).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 charity has outlined a new five-year strategy covering 2025 to 2029 which clearly sets out our Vision and Mission Statement as well as our key ambitions and milestones including:
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a) Implementing a significant fundraising campaign to procure new canal boats.
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b) Significantly redevelop our base facilities to increase our community reach and wider income-generating activities.
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c) Developing our financial sustainability.
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d) Increasing the number of boat trips we deliver.
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e) Increasing the number of volunteers to enable us to provide more canal boat trips.
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f) Run an effective marketing programme aiming for a significant increase in key activities such as online presence.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Limited Company Charity is controlled by its governing document, the Memorandum and Articles 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 Chief Executive Officer 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.
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Peter Le Marchant Trust (Registered number: 08379552)
Report of the Trustees for the Year Ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT 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).
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 Mrs V Francklin C S D Moore T S Hanmer Mrs E J Martin DL R N J S Price Mrs C C Phillips
Independent Examiner
Wright Vigar Limited Chartered Accountants & Business Advisers Morton House 12 Appletongate Newark Nottinghamshire NG24 1JY
Bankers
HSBC PLC PO Box 13 41 Market Place Loughborough LE11 3EJ
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Peter Le Marchant Trust (Registered number: 08379552)
Report of the Trustees for the Year Ended 31 December 2024
REFERENCE AND ADMINISTRATIVE DETAILS Key management
T Marren- Chief Executive Officer
Approved by order of the board of trustees on 23 June 2025 and signed on its behalf by:
Caroline Phillips
Caroline Phillips (Jun 27, 2025 13:23 GMT+1) ........................................................................
C C Phillips - Trustee
Page 8
Independent Examiner's Report to the Trustees of Peter Le Marchant Trust (Registered number: 08379552)
Independent examiner's report to the trustees of Peter Le Marchant Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Paul Colcomb
Paul Colcomb (Jun 30, 2025 13:08 GMT+1)
Paul Colcomb (FCCA)
Wright Vigar Limited Chartered Accountants & Business Advisers Morton House 12 Appletongate Newark Nottinghamshire NG24 1JY
Date: 23 June 2025
Page 9
Peter Le Marchant Trust
Statement of Financial Activities
for the Year Ended 31 December 2024
| Unrestricted Unrestricted Capital funds Fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 49,022 - Charitable activities 6 Boat hire 55,758 - Young Peoples Project 19,125 - Other trading activities 4 4,178 - Investment income 5 2,067 - Other income 7 4,376 - Total 134,526 - EXPENDITURE ON Raising funds 21,806 - Charitable activities 8 Boat hire 144,797 - Young Peoples Project 38,003 - Total 204,606 - NET INCOME/(EXPENDITURE) (70,080) - RECONCILIATION OF FUNDS Total funds brought forward 468,410 - TOTAL FUNDS CARRIED FORWARD 398,330 - |
Restricted funds £ 42,300 - - - - - 42,300 - 19,878 49,683 69,561 (27,261) 131,238 103,977 |
2024 Total funds £ 91,322 55,758 19,125 4,178 2,067 4,376 176,826 21,806 164,675 87,686 274,167 (97,341) 599,648 502,307 |
2023 Total funds £ 99,362 57,078 23,495 7,276 1,573 726 189,510 22,331 182,573 63,904 268,808 (79,298) 678,946 599,648 |
|---|---|---|---|
The notes form part of these financial statements
Page 10
Peter Le Marchant Trust (Registered number: 08379552)
Balance Sheet 31 December 2024
| Unrestricted Unrestricted Capital funds Fund Notes £ £ FIXED ASSETS Intangible assets 15 5,850 - Tangible assets 16 328,784 - 334,634 - CURRENT ASSETS Stocks 17 - - Debtors 18 15,291 - Cash at bank and in hand 55,534 - 70,825 - CREDITORS Amounts falling due within one year 19 (7,129) - NET CURRENT ASSETS 63,696 - TOTAL ASSETS LESS CURRENT LIABILITIES 398,330 - NET ASSETS 398,330 - FUNDS 20 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - - - 103,977 103,977 - 103,977 103,977 103,977 |
2024 Total funds £ 5,850 328,784 334,634 - 15,291 159,511 174,802 (7,129) 167,673 502,307 502,307 398,330 103,977 502,307 |
2023 Total funds £ 10,350 356,992 367,342 1,796 45,189 194,456 241,441 (9,135) 232,306 599,648 599,648 468,410 131,238 599,648 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the 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 the charitable company.
The notes form part of these financial statements
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Peter Le Marchant Trust (Registered number: 08379552)
Balance Sheet - continued
31 December 2024
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 23 June 2025 and were signed on its behalf by:
Caroline Phillips Caroline Phillips (Jun 27, 2025 13:23 GMT+1)
.............................................
C C Phillips - Trustee
Russell Price
Russell Price (Jun 30, 2025 12:10 GMT+1) ............................................. R N J S Price - Trustee
The notes form part of these financial statements
Page 12
Peter Le Marchant Trust
Notes to the Financial Statements for the Year Ended 31 December 2024
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 exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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% (2023: 30%) of the administrative salaries.
The costs of charitable activities include boat expenses, skippers' salaries, 50% (2023: 50%) of administrative salaries, boat and office equipment depreciation and general overheads.This also includes governance costs which includes further 20% (2023: 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 |
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Peter Le Marchant Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
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.
3. DONATIONS AND LEGACIES
| Donations Grants and donations Grants received, included in the above, are as follows: Chetwode Foundation Charnwood Council Leicestershire Shire Grant Hedley Foundation Provincial Grand Lodge Masons Leicestershire & Rutland Sir Andrew Martin Trust Lady Hind Trust The Dunn Family Trust The Bruce Wake Foundation D P Corah Trust Sir John Eastwood Trust Mary Potter Convent 1961 Charitable Trust J Reginal Corah Maud Elkington Charity Edward Cadbury National Lottery Florence Turner Trust GJW Turner Trust Charles Littlewood Hill Trust W.E.D Charitable Trust NHS Health & Wellbeing National Lottery- Wellbeing Project The Boshier-Hinton Foundation Richer Sounds Foundation North West Leicestershire County Council Beeston Marina Other grants |
2024 £ 7,607 83,715 91,322 2024 £ 7,501 3,300 8,000 5,000 - 1,000 2,500 3,000 3,000 4,000 2,000 - 3,000 1,250 2,000 - - 500 1,000 - 1,000 - 20,000 2,000 2,000 3,000 2,803 5,861 83,715 |
2023 £ 19,601 79,761 99,362 2023 £ - - 10,000 - 2,000 - - 3,000 2,500 4,000 4,000 1,000 3,000 1,250 2,000 3,000 1 1,000 2,000 2,500 1,000 33,600 - - - - - 3,910 79,761 |
|---|---|---|
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Peter Le Marchant Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
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 8. CHARITABLE ACTIVITIES COSTS Boat hire Young Peoples Project 9. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Repairs and upkeep of boats Boat insurance Co-ordinator costs Project supplies Depreciation Loss on sale of assets |
Direct Costs (see note 9) £ 51,073 49,565 100,638 |
2024 £ 208 550 3,420 4,178 2024 £ 2,067 2024 £ 55,758 19,125 74,883 2024 £ 4,376 Support costs (see note 10) £ 113,602 38,121 151,723 2024 £ 43,540 30,643 4,220 20,587 1,030 618 - 100,638 |
|
|---|---|---|---|
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Peter Le Marchant Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
10. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Management | costs | Totals | |
| £ | £ | £ | |
| Boat hire | 95,597 | 18,005 | 113,602 |
| Young Peoples Project | 36,121 | 2,000 | 38,121 |
| 131,718 | 20,005 | 151,723 |
11. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 9,991 | 9,108 |
| Deficit on disposal of fixed assets | - | 1,829 |
| Website costs amortisation | 4,500 | 3,750 |
| AUDITORS' REMUNERATION | ||
| Year ended | Year ended | |
| 31.12.24 | 31.12.23 | |
| Auditors' remuneration | - | 3,400 |
| Auditors' remuneration for non-audit work | 5,609 | 7,863 |
| Independent examination | 1,200 | - |
12. AUDITORS' REMUNERATION
13. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
14. STAFF COSTS
Total employee costs are analysed between the following:
| Wages/salaries Social security Pension |
Year Ended 31.12.24 104,525 4,111 883 109,519 |
Year ended 31.12.23 121,881 5,650 1,341 |
|---|---|---|
| 128,872 |
The average number of employees for the period was 4 (2023: 5) and none were paid more than £60,000 within the period.
The total remuneration paid to key management personnel in the year totalled £57,787 (2023: £55,790).
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Peter Le Marchant Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
15. INTANGIBLE FIXED ASSETS
| COST At 1 January 2024 and 31 December 2024 AMORTISATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
Website costs £ 22,500 12,150 4,500 16,650 5,850 10,350 |
|---|---|
16. TANGIBLE FIXED ASSETS
| COST At 1 January 2024 Additions At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year Impairments At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 COST At 1 January 2024 Additions At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year Impairments At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
Boat equipment £ 8,259 - 8,259 3,152 255 - 3,407 4,852 5,107 |
Freehold mooring land Improvements £ £ 155,524 63,272 - - 155,524 63,272 - 13,373 - 1,266 - - - 14,639 155,524 48,633 155,524 49,899 Other Computer equipment equipment £ £ 17,078 7,223 - - 17,078 7,223 9,826 4,507 363 1,282 - - 10,189 5,789 6,889 1,434 7,252 2,716 |
Boats £ 161,278 5,692 166,970 24,784 6,825 23,909 55,518 111,452 136,494 Totals £ 412,634 5,692 418,326 55,642 9,991 23,909 89,542 328,784 356,992 |
|---|---|---|---|
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Peter Le Marchant Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
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 20. MOVEMENT IN FUNDS Unrestricted funds General Fund Restricted funds The Jones 1986 Charitable Trust Charnwood Council Hedley Foundation H D H Wills Sir Andrew Martin Trust National Lottery Grant Leicestershire Shire Grant Provincial Grand Lodge Masons Leicestershire and Rutland- Melody Grant Waterway Wellbeing National Lottery- Wellbeing Project The Boshier-Hinton Foundation TOTAL FUNDS |
At 1.1.24 £ 468,410 2,786 - - 29,308 - 93,490 1,952 1,970 - 1,732 - 131,238 599,648 |
2024 £ - 2024 £ 1,384 12 - 13,895 15,291 2024 £ 219 2,114 1,352 3,444 7,129 Net movement in funds £ (70,080) - 3,300 5,000 - 922 (53,874) (1,907) (1,970) 1,000 18,268 2,000 (27,261) (97,341) |
2023 £ 1,796 2023 £ 168 9 5,692 39,320 45,189 2023 £ - 2,575 320 6,240 9,135 At 31.12.24 £ 398,330 2,786 3,300 5,000 29,308 922 39,616 45 - 1,000 20,000 2,000 103,977 502,307 |
|---|---|---|---|
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Peter Le Marchant Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
20. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund Restricted funds Charnwood Council Hedley Foundation Sir Andrew Martin Trust National Lottery Grant Leicestershire Shire Grant Provincial Grand Lodge Masons Leicestershire and Rutland- Melody Grant Waterway Wellbeing National Lottery- Wellbeing Project The Boshier-Hinton Foundation TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General Fund Restricted funds St James's Place Foundation The Jones 1986 Charitable Trust Charnwood Council Loughborough Univeristy Young people project Hedley Foundation Boshier-Hinton H D H Wills Rank Foundation Groundwork UK Charlottle Bonham-Carter Charitable Trust Sir Andrew Martin Trust Baron Davenport National Lottery Grant Leicestershire Shire Grant Provincial Grand Lodge Masons Leicestershire and Rutland- Melody Grant Waterway Wellbeing Thomas Farr- Mental Health Intelligent Energy- Mental Health John Salmon Mental Health Mighty Creatives- Youth Placement National Lottery- Wellbeing Project TOTAL FUNDS |
Incoming resources £ 134,526 3,300 5,000 1,000 - 9,999 1 1,000 20,000 2,000 42,300 176,826 At 1.1.23 £ 469,130 1,000 3,068 665 446 2,000 2,000 29,308 1,000 1,500 1,800 1,000 400 141,831 16 - 1,000 32 9,350 2,900 500 10,000 209,816 678,946 |
Resources Movement expended in funds £ £ (204,606) (70,080) - 3,300 - 5,000 (78) 922 (53,874) (53,874) (11,906) (1,907) (1,971) (1,970) - 1,000 (1,732) 18,268 - 2,000 (69,561) (27,261) (274,167) (97,341) Net movement At in funds 31.12.23 £ £ (720) 468,410 (1,000) - (282) 2,786 (665) - (446) - (2,000) - (2,000) - - 29,308 (1,000) - (1,500) - (1,800) - (1,000) - (400) - (48,341) 93,490 1,936 1,952 1,970 1,970 (1,000) - (32) - (9,350) - (2,900) - (500) - (8,268) 1,732 (78,578) 131,238 (79,298) 599,648 |
|---|---|---|
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Peter Le Marchant Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
20. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund Restricted funds St James's Place Foundation Edward Cadbury Trust The Jones 1986 Charitable Trust Charnwood Council Loughborough Univeristy Young people project Hedley Foundation Boshier-Hinton Rank Foundation Groundwork UK Charlottle Bonham-Carter Charitable Trust Sir Andrew Martin Trust Baron Davenport National Lottery Grant Leicestershire Shire Grant Provincial Grand Lodge Masons Leicestershire and Rutland- Melody Grant Waterway Wellbeing Thomas Farr- Mental Health Intelligent Energy- Mental Health John Salmon Mental Health Mighty Creatives- Youth Placement National Lottery- Wellbeing Project NHS HWB GJW Turner Trust TOTAL FUNDS |
Incoming resources £ 136,747 - 3,000 - - - - - - - - - - - 10,000 2,000 2,160 - 2 - - - 33,601 2,000 52,763 189,510 |
Resources Movement expended in funds £ £ (137,467) (720) (1,000) (1,000) (3,000) - (282) (282) (665) (665) (446) (446) (2,000) (2,000) (2,000) (2,000) (1,000) (1,000) (1,500) (1,500) (1,800) (1,800) (1,000) (1,000) (400) (400) (48,341) (48,341) (8,064) 1,936 (30) 1,970 (3,160) (1,000) (32) (32) (9,352) (9,350) (2,900) (2,900) (500) (500) (8,268) (8,268) (33,601) - (2,000) - (131,341) (78,578) (268,808) (79,298) |
|---|---|---|
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 Mighty Creatives
The Jones 1986 Charitable Trust- For use in Nottinghamshire only
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Peter Le Marchant Trust
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
20. MOVEMENT IN FUNDS - continued
Melody Refurbishment Project
The following funds were received for the refurbishment of Melody:
Provincial Grand Lodge Masons of Leicestershire and Rutland
Other Restricted Funds:
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.
Thomas Farr- Mental Health
This fund arose from a donation towards mental health trips.
Intelligent Energy- Mental Health
This fund arose from a donation towards mental health trips.
John Salmon- Mental Health
This fund arose from a donation towards mental health trips.
National Lottery- Wellbeing
This fund arose from a donation towards wellbeing trips. Waterway- Wellbeing
This fund arose from a donation towards wellbeing trips.
21. RELATED PARTY DISCLOSURES
During the prior year the charity made purchases from Trustee Caroline Phillips of £240.
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