Registration Number: 07515469 CANALSIDE HERITAGE CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charlty No: 1155914 CANALSIDE HERITAGE CENTRE CONTENTS Legal and Administrative Information Report of tha Trusl8es Report of the Independent Examiner Stat8m8nt of Financial Actbvities Balance Sheet Notes forming part of lh8 Financial Activities 7-11 CANALSIDE HERITAGE CENTRE LEGAL AND ADMINISTRAnVE INFORMATION TRUSTEES Mr S Craven MTS J Scaddan Mr J Owen MBE Mr G Hopcroft Mr M Dodd Mrs K Foale Mr I Petetson-stephens DIRECTORS Mr S Craven Mr M Dodd Mrs K Foale Mr G Hopcroft Mr J Owen MBE Mrs J Scaddan Mr I Peterson-St8phens COMPANY SECRETARY Mr M Dodd REGISTERED CHARITY NUMBER 1155914 REGISTERED COMPANY NUMBER 07515469 REGISTERED OFFICE Weir Cottages. Canal Side. B8eslon. NoltirvJhatn. NG9 1 LZ INDEPENDENT EXAMINER Baldwin Cox Limited, 15 Foster Avenue, Beeston, Nottingham, NG9 1AE BANKERS HSBC, The Square, Beeston, Nottingham. NG9 2AN CANALSIDE HERITAGE CENTRE REPORT OF THE TRUSTEES The Trustees submit their annual report and the financial statements for the year ended 31 March 2025. Th8 Trustees R8POrt and accounts have be8n prepared in accordanc8 with the Statement of Recommended Practice. Accounting and Reporting by Charities March 2016. Reference and administratlve detalls Reference and administrative details are shown in the schedule of members of the Board and professional advisors on page 1 of the ffinancial stalements. Canalside Heritage Centre is registered with the Charity Commission under the name c￿als1de Heritage Centre. structure. Governance and Management The Charity is a registered charity governed by a trust deed and was set up on 3 February 2011 and regislered as a charity on 24 Febnjary 2014. The Trustees consider the risks faced by the Canalsid8 Heritage Centre annually through a risk register focusing on all financial and non-financial risks with the Charity. Through annual review of its Reserves PoI￿Y which is seen as a key step in that risk management process. Alms and Objecllves The ¢haritsble objecbves of Canalside Heritage Centre are for the public benefit, the advan￿ment of education and the preservation of historical heritage by the construction. management and Maintenan￿ of a heritage museum. resource centre and exhibilion gallery in Beeston, Specifically the charity aims are: a. To renovate and restore four derelict cottages (circa 1796) into sustainable use as a heritaga, educab'onal and arts cent￿ for the use of the local community. schools and general public. b. To provide a museum that will detail and highlight the heritage of the area, by awurate5y rellecting the historical significance and importance of the lock keeperfs house. cottages. the canal network and their relationship with the development of Beeston Rylands. c. To provlde a leaming Centre for use by locals, historians and artists to pass on relevanl skills, knowledge and memories via interviews. lecture5 and Msual presentations. d. To set up an allotment on existing kitchen garden land, adjacent to the cottag8s, for local schools to grow their 0￿1 produce and to provide opportunilies for them to leam about the history of allolments. and food production since the 16th century. To m8ke the Centre a sustainablè sland-alone project by r8ntinglle8sing designated. commercially - viable space. Al income generated by the Canalside Heritage Centre will be applied towards its objects and for no other purpose. Financial Review For thé year ended 31 March 2025, the Canalside Herilage Gentre had a deficlt of £91.765 and its Net Assets were £630,642 of whiGh £77.175 was held in cash and bank deposits. Reserves The Trustees have considered the level of reserves held by Canaside Heritage Centre and consider satisfactory to enab18 it io continue ils current activities. Funding Sources The principal funding sources in 2024125 was grant income from the Heritage Lottery Fund of £101,294. The charity received donations from its trading subsidiary of £Nil and voluntary donations toward the specific and operations of the Centre of £3.976. CANALSIDE HERITAGE CENTRE REPORT OF THE TRUSTEES (Cont,) Indop8ndent Examiners Beldwin Cox Ltd has offered themselves as the Independent Examin8rs of the charity. Responslbllltles of tho Trustees The Charity's Trustees are responsible for pr8paring th8 Trustees Annual Report and the financial ststements in accordance wth applicable law and United Jfjngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law applicable to charities in EnglarKI and Wales requires the Trustees to prepar& financial statements for each financial year vthich give a true and fair view of the state of affairs of the charity and of the incoming resources of Ihe charity for Ihat period. In preparing these financial statements. the Trustees are required to: select suitable accounting policies and then apply Ihem consislenlly. observe the melhods and principles in the Charities SORP" make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have b88n followed. subj8Ct to any material departures dis¢losad and explained in the financial statements. e. prepare the financial statements on the going conr£m basis unles5 it 15 inappropriale to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclo￿ with reasonable accuracy at any time the financial position of Ihe Charity and enable them to ensure that the financial statements Comply wilh the Charities Act 2022 and the Charity (Accounts and Reports) Regulatlons 2008. The Trustees are also responsible for safeguarding the assets of the Charity and henc8 for taking reasonable steps for the prev8ntion and det8Ction of fraud and Dlher I￿gU￿an1(es. In so far as the Trustees are aware: a. ther8 is no relevant audil infonnalion of which the charitys auditor is unaware,. and b. the TTU5tees have taken all steps Ihey ought to have taken to make themselves aware of any relevant audlt infomiation and to establish that the auditor is aware of that infomalion. Th8 Trustees have given due consideration to the Charity Commission published guldance on the operation of the public benefil requirement. S. Craven Chairperson Canalside Heritage Cenlre CANALSIDE HERITAGE CENTRE INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF THE CANALSIDE HERITAGE YEAR ENDED 31 MARCH 2025 I report on the accounts of the Charity for the year ended 31 March 2025, which is set out on pages 5 to 11. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The Charity's trustees are responslble for the preparation of th8 accounts. The Charitys trust88S consider that an audit is not requir&d for this year under Ihe Charities Act 2022 (the Chartbes Aci) and that an independent examination is needed. It 15 my responsibility to- examine the accounts under section 145 of the Charities Act. to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the Charities Act). and to state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S STATEMENT My examination was carried out in accordance with general directions given by the Charty Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from trustees conceming any such matters. The prO￿dureS undertaken do not provide all Ihe evidence that would be required in an audit, and consequently no opinion E given whether th8 accounts pr8sent a Irue and fairf vlew and tha report is Ilmited to Ihose matters set out in the statement below. INDEPENDENT EXAMINER'S STATEMENT In conneclion with my examirk2tion. no matter has come to my attention: 1) which requires me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with sects'on 386 of the Companies Act 2006; to prepare accounts which ac￿rd wllh the accounting records and comply wlth the accounting requirement5 of sectiorT 396 of the Companies Act 2006 and with methods and prtncipals of th8 Statement of Recommended Practice Accounting and Reporting by Charities have not been me( or 2} to which, in my opinion. attention should be drawn in order to enable a propor und8rstanding of the accounts to be ￿aGhed. Andrew P Crossley FCA Baldwin Cox Llmlted 15 Foster Avenue Beeston Nottingh 91AE CANALSIDE HERITAGE CENTRE STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 PIARCH 2025 Note Unresfficted Funds Restrlcled Funds Total Funds 2025 rotal Funds 2024 Incoming Resources Incoming Resources from generating funds: Voluntary income- Grants Voluntary income- Donations Voluntary income- Fund raisirKJ Investment Income Gift from trading subsidiary 7,060 3,976 3,402 1.078 101,294 108,354 3,976 3.402 1,078 63,893 4,345 4.290 1,545 38,178 Total Incoming Rosources 15.516 101.294 116.810 112.251 Resources Expended Charitable actlvities Governance costs Depredatlon 37.928 1,079 133.654 1,705 171,582 2,784 34,209 155,856 1,488 34.209 Total Resources Expended 39.007 169,568 208,575 191,553 Net Incoming Resources Before Taxalion Taxation {23A91) (68,274) {91.765> (/9,302) Net In¢omlng Resources After Taxation Balances brought forward at 31 March 2024 (23,491) 43.175 (68,274) 679 232 (91,765) (79,302) 801709 Balances carried forward at 31 March 2025 19,684 610.958 630.642 [22.407 All incoming resources and resources expended deriv8 from continuing activities. The Notes on page5 7 to 11 form part of these Financial Statements. CANALSIDE HERITAGE CENTRE BALANCE SHEET- 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible Fixed Assels Fixed Asset Investments 581,562 615,771 CURRENT ASSETS Debtors and Prepayments Cash at Bank and in hand 2,019 77.175 79,194 16,217 93.687 109,904 CREDITORS Amounts falling due within one year Total Net Current Assets 49,079 706,635 630,642 722.406 The Total Net Assets are represented as foll0v￿. FUNDS Unrestricted 10 19,684 43.175 Restricted 11 610,958 679,232 630,642 722,407 APPROVED ON BEHALF OF THE TRUSTEES ON For th8 financid year ended 31 March 2025 Ihe c(xnpany was entitled to exemption from audit under section 477 of the Companies Act 20C6 relating lo small companies. The trustees acknowledge their responsibilities for complying wlih the requirem8nts of the Act with respect to accounting records and the preparation of financial stslements. The memb8rs hav8 not required the company to oblain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the prowsions applicable lo companies subject to the small Companies. regime. ncial latements were approved by Ihe board of trustees and authorised for issua on . and ar8 s￿Ded on its behalf by: S. Craven - Trusteo Company Registratlon No. 07515469 Charity No. 1155914 The Notes on pages 7 to 11 form part of these Finanual St8ternents CANALSIDE HERITAGE CENTRE NOTES TO THE FINANCIAL STATEMENTS - 31 MARCH 2025 Accounting Policies Colnpany information Canalside Heritage C8ntr8 is a privat8 company limited by guarantee Éncorporated in England and Wales. The registered office is Weir Cottages. Canal Side. Beeslon, Nottingham. NG9 1LZ. A¢eounting convention These financial statements hav6 b88n prepared in accordanc8 with FRS 102 "The Financial Reporting Standard appIl￿ble in the UK and Republic of Ireland" ("FRS 10T), the Charlt4es SORP FRS 102 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where addilional disclosure is required to show a tru8 and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements ar8 round8d to th8 n8arest £. The financial statements have been prepared under the historical cost convention, modified to indude the revaluation of freehold properties and to indude investment properties and certain financial instruments al fair value. The principal accounting polici&s adopted are set out below. The company has faken advantage of the exemption under seclion 399 of the Companies Act 2006 not to prepare CDnsolidaled acwunts, on the basis that the group of which this is the parent qualifies as a small group. The financiaE statsments present information about the company as an Individual entity and not about its group. Incoming Resources Voluntary income including grants and donations is recognised in the Statement of Financial Adiwties in the period in which the charty is entitled to the receipt and the amount can be measured with reasonable cerL3inty. Invesbn8nt incorne is recognised on a receivable basis. Rosources Expondod All expenditure ts recognised when a liability is incurred. Charitable expenditure includes all expenditure associated with Ihe preseNation of historical heritage by the renovation an¢J construction of a heritage museum. Governance costs include those incurred in the govemance of the charity and its assets and are primarily associated with me8ting stalutory requirements. Taxation Due to the Scheme's charitable status, there 15 no reserve required in respect of taxation. Fund Accounting Funds held by the charity are either: Unr8StriGt8d general funds. These a￿ the funds, which can be used in accordance with the charitable objects at the discretion of the Trustees. Restricted funds. These are th8 fijnds. which can only be used for partlGular restricted purposes y￿thIn the objects of the charity. Reslriclions arise when 5P8cifi8d by the donor or when funds are raised for a particular restricted purpose. Further explanation of the nature and purpose of each fund is included in the notes to the accounis. Designated funds are general funds set aside by decision of the trustees to meet commlknents for fulure oxpendtture. or for funds invested in the functional assets of the charity. CANALSIDE HERITAGE CENTRE NOTES TO THE FINANCIAL STATEMENTS- 31 MARCH 2025 Accountlng Pollcies (continued) Grant Income and Expendlture Grant income is included in the statement of financial actiwties on a receipts basis. Grant expenditure is arxounted lor when the commitment is made. Tanglble Fixed Assets Tangible fixed assets are measured al cost and subsequenty measured at Cost or valuation. net of depreciation and any improvement losses. Depreciation is recognised so as to write iiff the cost or valuation of assets18ss their residual values over their useful lives on the followsng bases: Leasehold property improvements Fixtures and fittings Over 25 years 25°/o on cost Fixod asset Investments The company has decided to show the fixed asset investment at cost value, rather than fair value, as tha investment represents a 1000/0 shareholding in Its trading subsidiary which donates all of its taxable profits lo Canalside Heritage Centre. Cash and Cash Equlvalents Cash and ￿$h equivalents are ba51c financial a55ets and include cash in hand. deposits held at call with banks. oth8r short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing in currenl liabilities. 1.10 Flnanclal Instruments The company has elected lo apply the provisions of Section 11 'Basl¢ Flnanclal Instruments. and section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its finatjcial instruments. Financial instruments are recognised In Ihe company's balance sheet when tha company becomes party to the contra¢tual provisions of Ihe instrument. Financial assets and Ilabllittes are offset. with Ihe net amounts presented in the financial statemenls. when there is a legally enforceabl8 right to set off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc Flnanclal Assets Basic financial assels. which indude debtors and cash and bank balances, ar8 initially measured at transaction price induding transadion costs and are subsequently carried at amortised cost using Ihe effectiv& interesl method unlass the arrangement constitutes a flnancing transaction, where the Iransactlon is measured at the present value of the future ceipts discounted at a market rate of interest. Financial ass8ts dassified as receivable within one year are not amortised. Classification of Flnan¢Sal Liabilities Financial liabilities and equty Inst￿mentS are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the ass8ts of the company after deducling all of its liabilities. CANALSIDE HERITAGE CENTRE NOTES TO THE FINANCIAL STATEMENTS- 31 MARCH 2025 Accountlng Poll¢les (Continued) Baslc Flnanclal Llabllllle5 Basic financial liabilities. including creditors. bank loans. loans from fellow group companies and preference shares that are classified as debt. are inilially recognised at transaction pric8 unless the arrangement conslitules a financing transaction, where the debt Instrutnent is measured at the present value of the future payfflents discounted at a market rate of int8rast. Finan(aal liabilities classified as payable within year are not amortised. Debt instruments are subsequenlEy carried at amortised cosL using the effecuve interest rate method. Trade creditors are obligations to pay for goods or services that hav8 b88n awuired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment Ss due within one year or less. If not. they are presented 85 non-current liabilities. Tr8de creditors ar6 recognised initially at transaction pri￿ and subsequenlly measured at amortised cost using the effective interesl melhod. Employees The average monthly number of persons (induding directors) employed by the company during the yearwas 10 (2024- 9). Charitable Actlvlues 2025 2024 Activities direcuy undertalwi Support activitie5 171582 171.582 755,856 15&856 No trustees re￿iVed any remuneration during the year {2024- £nil). Staff costs were pald In the year totalling £70.701 (2024- £86.922). Governance Cosls 2025 2024 Accountancy fe8S Legal fees 2,784 1.488 2.784 1,488 Taxation 2025 2024 United Kingdom corporalion lax at 19% CANALSIDE HERITAGE CENTRE NOTES TO THE FINANCIAL STATEMENTS - 31 MARCH 2025 Tangible Fixed Assels Leasehold Flxtures Property and fittings Improvements Total Cost At 1 April 2024 Additions At 31 March 2025 852,362 1.788 854.150 852,362 1,788 854,150 Depreciation and Improvement At 1 April 2024 Depreciation charged in th8 year At 31 March 2025 236,592 34.209 270.801 1,788 238,380 34.209 272,589 1.788 Carrying Amount At 31 March 2025 At 31 March 2024 581.562 615.771 581,562 615.771 Fixed Asset Invostmonts 2025 2024 Investments The above represents the 1000/a shareholding Tn th8 subsidiary trading company CHC Beeston Enterprises Limited. a company registered in EngSand and Wales. Debtors 2025 2024 Owed from subsidiary Owed to related party Prepayments 16,Q67 150 2,019 2.019 16,217 Creditors Falllng Due Within One Year 2025 2024 Owed to subsidiary Accruals Other taxation and social security 27,310 1.632 1,173 30.115 1,200 2, 069 3,269 10. Unrestrlcted Funds Balance 1 April 2024 Incoming Resources Expend8d Balance 31 March 2025 General Fund 43.175 15,516 39,007) 19,684 10 CANALSIDE HERITAGE CENTRE NOTES TO THE FINANCIAL STATEMENTS- 31 MARCH 2025 11. Restricted Funds Balance 1 April 2024 Incoming ResourGes Resources Expended Balance 31 March 2025 Buildlng renovation 679,232 101.294 169,568 610,958 12. Analysis Of Not Assets Botweon Funds Unrestricted Funds Restricted Funds Total Fixed assets Current assets Creditors: amounts falllng due wilhin one year 581,562 56,706 27,310 610,958 581,563 79.194 22,488 2,805 19,684 630,642 13. Controlling Party During the year Canalside Heritage Centre vras controlled by the Trustees. 14. Members And Llablllty The Charity is a private company limited by guarantee and consequently does not have any share capital. Each member is liable to Conlribute an amount not exceeding £1 towards the amounts of the Charity in the event of liquidation. 15. Subsldlary During the year the wholly own8d subsidiary, CHC Beeston Enterprises Limited. gifted £Nil (2024- £38,178) to Canalslde Heritage Centre. At the year end CHC Beeston Enterprises LinNted was owed £27,310 (2024 - £16,067 ow8d to) from Canalside Heritage Centre. This loan is Inte￿St free and is repayable in demand. At the year end the company was owed £Nil (2024 - £150) by Trent Arch (company number 11753880). This company is controlled by a director of Canalside Heritage Centre. This loan is int8rast free and is repayable on demand.