## CALDON & UTTOXETER CANALS TRUST
(A charitable incorporated organisation)
Report and Financial Statements Year ended 31 December 2021
Registered Charity Number 1156812
Registered Office: C/O Island House, Moor Road, Chesham, Buckinghamshire, HP5 1WA www.cuct.org.uk
To restore, preserve, maintain in good order and improve the existing Caldon Canal - and all former arms of the canal including the branch known as the Uttoxeter Canal - for the use and benefit of the public.
1
**Caldon & Uttoxeter Canals Trust – Report and Financial Statements 2021**
## **Contents**
||Page|
|---|---|
|Legal and administrative information|3|
|Report of the Board of Trustees|4|
|Appointment of Trustees|4|
|Aims and Objectives|5|
|Independent Examiners Report|8|
2
## **Caldon & Uttoxeter Canals Trust - Legal and administrative information**
## **Directors and Trustees**
The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout the report and accounts are collectively referred to as the trustees.
The Trustees serving during the year and since the year-end were as follows:
Directly Elected Trustees Alison Smedley, MBE
Mike Maryon Susan Dutton Peter Matthews Steve Wood
Charity number 1156812
Registered office C/O Island House Moor Road Chesham Buckinghamshire HP5 1WA
Independent Examiner
Mrs Laura Bird BSc MSc CCFA CIPFA (Affil) Abbeyfields Church Lane Draycott in the Moors Staffordshire ST11 9AG
Bankers
HSBC Bank plc Crown Bank Hanley Stoke on Trent ST1 1DA
3
## **Caldon & Uttoxeter Canals Trust - Report of the Trustees**
## **for the year ended 31 December 2021**
The Board of Trustees who are the charity trustees, are pleased to present their report for the year ended 31 December 2021.
## **The Caldon & Uttoxeter Canals Trust in Brief**
## **Aims & Powers**
The objects of the Charitable Incorporated Organisation (CIO) are to restore, preserve, maintain in good order and improve the existing Caldon Canal and all former arms of the Caldon Canal including the branch known as the Uttoxeter Canal for the use and benefit of the public.
The CIO has power to do anything which is calculated to further its objects or is conducive or incidental to doing so. In particular, the CIO has power to:
- borrow money and to charge the whole or any part of its property as security for the repayment of the money borrowed. The CIO must comply as appropriate with sections 124 and 125 of the Charities Act 2011, if it wishes to mortgage land;
- buy, take on lease or in exchange, hire or otherwise acquire any property and to maintain and equip it for use;
- sell, lease or otherwise dispose of all or any part of the property belonging to the CIO. In exercising this power, the CIO must comply as appropriate with sections 117 and 119-123 of the Charities Act 2011;
- deposit or invest funds, employ a professional fund-manager and arrange for the investment or other property of the CIO to be held in the name of a nominee, in the same manner and subject to the same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000.
## **Organisation**
The Board of Trustees consists of elected trustees. Trustees usually meet once every month and met formally for 9 meetings during 2021. However owing to Covid restrictions only 1 meetings was held in person, the remaining meetings being held via Zoom.
The charity trustees manage the affairs of the CIO and for that purpose exercise all the powers of the CIO. There must be at least three charity trustees. If the number falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees, or appoint a new charity trustee.
There is no maximum number of charity trustees that may be appointed to the CIO.
## **Appointment of Trustees**
At every annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office, but if there is only one charity trustee, he or she shall retire;
The charity trustees to retire by rotation shall be those who have been longest in the office since their last appointment or reappointment. If any trustees were last appointed or reappointed on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot;
The vacancies so arising may be filled by the decision of the members at the annual general meeting.
The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed.
A person so appointed by the charity trustees shall retire at the conclusion of the next annual general meeting after the date of his or her appointment, and shall not be counted for the purposes of determining which of the charity trustees is to retire by rotation at that meeting.
4
The principal and other Officers of the Trust and members of the Committee shall retire each year at the Annual General Meeting but shall be eligible for re-election. Nominations for election as an Officer or a member of the Committee may be made to the Secretary during the four weeks preceding the Annual General Meeting. Election of Officers and Committee members, by ballot if necessary, shall be by a simple majority of members voting. Election of Officers shall precede the election of Committee members. Nominees not elected as Officers shall be eligible for election to the Committee.
## **The Principal Officers of the Trust shall be as follows:**
a) Chairman of the Committee;
b) Vice-Chairman of the Committee;
c) Secretary to be responsible for the proper conduct of the business relating to the Trust and its activities; to arrange and prepare agenda for and maintain records of all meetings;
d) Treasurer to be responsible for the proper conduct of the finances of the Trust including the banking and investment of its income, the payment of its debts and the presentation annually of a Statement of Accounts. These duties may be performed by more than one person.
Other Officers of the Trust shall be appointed or elected annually according to the needs of the Trust and the range of its activities and may normally include Officers with duties:
- a) Membership Secretary to collect subscriptions and issue reminders when necessary;
- b) Work Party Organiser to arrange work parties to maintain the canal;
- c) Publicity Officer to foster the public reputation of the Trust and liaise with patrons and sponsors.
## **Trustee Remuneration and Insurance**
Insurance cover is provided through The Inland Waterways Association. No trustee received any remuneration in respect of services to the Trust, other than reimbursement of expenses incurred in providing such services.
## **Principal Appointed Officers:**
Trust Chairman: Steve Wood to September; Julie Arnold from October Vice Chairmen: Alison Smedley, MBE Trust Secretary: Peter Matthews Trust Treasurer: Christopher Gurney Work Party Organiser: Steve Wood to September; currently vacant Membership Secretary: Peter Matthews Sales Officer: Susan Dutton Communications Officer: Steve Wood
## **Structure Governance and Management Caldon & Uttoxeter Canals Trust Constitution**
The Caldon & Uttoxeter Canals Trust is a Charitable Incorporated Organisation governed by its constitution dated 10 February 2014.
The Trust has no contractual arrangements with any other party that materially affects the management of the Trust. It is the Trust’s policy to work closely with all other associated interests, including navigation authorities, local and national government and its agencies, private and public landowners, commercial boating and other waterside businesses, voluntary organisations and others to promote the conservation, use, maintenance, restoration and appropriate development of the Caldon & Uttoxeter Canals.
## **Our aims and objectives**
In furtherance of its Aims and Objective (detailed above) it shall be the duty of the Committee to develop and implement the general policy of the Trust in accordance with its declared aims and, subject to any conditions imposed upon it by the Trust at a General meeting, to provide for the administration, management and control of the affairs and property of the Trust.
The Committee shall comprise Chairman, Vice-Chairman, Secretary, Assistant Secretary and Treasurer plus other members and such other Officers as may be deemed appropriate at the Annual General Meeting; it shall meet at intervals
5
of not more than two calendar months.
All members of the Committee shall have equal voice and vote in the proceedings of the Committee except that, if necessary, the Chairman shall have a casting vote. In addition to the elected and ex-officio members, the Committee may co-opt further temporary members in a consultative, non-voting capacity. The Committee may delegate any of its powers to Sub-Committees.
It shall be the duty of the Committee to develop and implement the general policy of the Trust in accordance with its declared aims and, subject to any conditions imposed upon it by the Trust at a General meeting, to provide for the administration, management and control of the affairs and property of the Trust.
## **Risk Management**
The Trustees have a risk management strategy which comprises:
- An annual review of the principal risks and uncertainties that the Trust faces;
- The establishment of policies, systems and procedures designed to mitigate those risks identified in the annual review; and
- The implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
The management of this risk is via a regular review by the Work Party Organiser of any potential new forms of risk on a case by case basis and referral to Trustees as deemed appropriate.
Attention has also been focused on non-financial risks arising from health and safety of the general public, volunteers and employees. These risks are managed by ensuring that the training and competence requirements are up to date and in place and site specific risk assessments are carried out for all projects.
## **GDPR**
The Trust has a formal GDPR policy.
## **Public Benefit**
During 2021 the Trust continued to campaign to maintain and improve awareness of the public benefits of the Caldon and Uttoxeter Canals, and to work with navigation authorities, local authorities and external funding bodies to secure further improvements. However owing to the Covid Pandemic much of this was based om administrative action such as viewing planning application. However on the weekend of 5/6[th] June the Trust, in conjunction with IWA managed a stall at the Etruria Boat gathering where a number of people visited our stall. On 18 September the Trust took part in the National Heritage Day by organizing a self guided walk through the Crumpwood Area. Interpretation boards were set up at strategic points and volunteers were available (subject to social distancing) to talk to members of the public at those points.
A set of six replica mileposts had been installed between Uttoxeter and Denstone in 2019 to form part of the project to initialise a public walk conforming to the line of the original canal as far as possible. Commemorative plaques were installed on all but one of these during the year.
## **Work Parties**
The Trust was unable to organize work parties owing to the Covid restrictions.
## **Fundraising and Publicity Activities**
Most of the Trusts income during 2021 was derived from membership subscriptions and sales as below..
In June the trust managed a stall at the Etruria Boat Gathering and in September the Trust held a self guided walk (see Public Benefit)
Audlem Books have continued to sell books on our behalf and this has generated a regular income to the Trust but again owing to lockdown, sales were much reduced.
6
Cheddleton Tea Rooms sold a number of items on behalf of the Trust.
Three issues of the Trusts Newsletter, Cherry Eye, were produced, detailing the work of the Trust and other matters relating to the Trust.
## **Financial Review**
The Trust maintains two accounts. A general account and a business account.
## **Investment Policy**
The Trust has no investments.
## **Reserves Policy**
The Trust’s income varies from year to year due to a number of factors including opportunities to receive grant funding for projects, the level of donations from supporters, and the amount of funds raised from sales and other activities. Expenditure can also vary, particularly around which projects are being progressed in any particular year. The COVID 19 crises is expected to have a small impact during the coming year as events and sales are likely to be curtailed.
The Trust therefore needs to hold a minimum reserve that allows it to continue its day-to-day activities and committed annual expenditure.
Restricted funds represent monies set aside for particular projects or purposes and are administered in accordance with the instructions or intentions of the donors or the Trust’s objective for which the funds were restricted. The Trust’s unrestricted funds is therefore represented by the current balance less any restricted funds.
In 2018 the Trustees agreed a minimum amount to be kept in reserve in the bank account of £2000. This has remained unchanged.
Trustees will review this reserves policy annually.
7
**Independent examiner's report For the year ended 31 December 2021**
## **Report to the trustees of Caldon & Uttoxeter Canals Trust CIO**
I report on accounts of the charity for the year ended 31 December 2021, which are set out on pages 9 to 10.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that neither an audit nor independent examination are required for this year under section 144 of the Charities Act 2011 (“the Charities Act), but have opted for a voluntary independent examination.
It is 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 Charity 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Laura Bird CIPFA(Affil)**
Abbeyfields Church Lane Draycott-in-the-Moors Staffordshire ST11 9AG
8
## **CALDON & UTTOXETER CANALS TRUST**
## INCOME/EXPENDITURE AS AT 31[ST] DECEMBER 2021
|Income
Membership subscriptions
Sales surplus
Audlem mill
Gift aid
Donations
Talks
Mileposts (donations and grant)
Miscellaneous
Bank interest
Expenditure
Insurance
Print and post
Meeting expenses
Membership expenses
Subscriptions
Secretary's expenses
Work Parties
Independent Examination fee
Miscellaneous
Mileposts
Surplus/ (deficit)|2021
Unrestricted
Restricted
Total
£
£
£
1,220.09
-
1,220.09
269.53
-
269.53
158.60
-
158.60
201.59
-
201.59
125.11
-
125.11
-
-
-
-
-
-
-
-
-
0.81
0.50
1.31
1,975.73
0.50
1,976.23
794.57 -
794.57
168.45 -
168.45
- -
-
- -
-
114.00 -
114.00
- -
-
- -
-
100.00 -
100.00
450.00 -
450.00
-
-
-
1,627.02 -
1,627.02
348.71
0.50
349.21|**Total**
**£**
983.09
138.75
83.85
169.97
161.10
-
-
-
11.41|
|---|---|---|
|||1,548.17
791.86
518.55
-
-
54.00
-
-
100.00
84.00
-|
|||1,548.41
( 0.24)|
9
## **CALDON & UTTOXETER CANALS TRUST**
BALANCE SHEET AS AT 31[ST] DECEMBER 2021
Balance Sheet as at 31 December 2021
|Balance Sheet as at 31 December 2021|||
|---|---|---|
|Presentation piece
Current Account
Saving Account
Stock
Represented by
Capital b/fwd
Surplus/ (deficit) for year to 31/12/21|2021
£
225.00
11,740.25
13,072.37
2,045.45
27,083.07
26,733.86
349.21
27,083.07|2020
£
225.00
11,312.06
13,071.06
2,125.74|
|||26,733.86
26,734.10
(0.24)|
|||26,733.86|
2020 Current account and I&E deficit figures have been restated
## **Asset Bridge 70**
Staffordshire Moorlands District Council transferred title of Bridge 70 to CUCT on 16th January 2016 for the sum of £2.00. The bridge has not been included as an asset in the balance sheet due to its low purchase price and the difficulty in valuing the bridge other than for build costs.
The significance of Bridge 70 as a Heritage asset is that it is the original bridge from the date of the canal construction and forms a footpath link across the valley. Without the bridge it would not be possible to cross the remnants of the canal to gain the statutory access to either side. The footpath is well used and a bridge other than the original would not be in keeping with the landscape.
Bridge 70 has not been revalued since it is an isolated construction and its value lies only in its heritage. The land which it traverses is effectively a canal and therefore of no commercial use and the bridge itself serves as a footpath thereby negating any other form of use.
Bridge 70 is to be maintained under the conditions of the CPO in force, for this reason CUCT insure the bridge for a rebuild value of £350,000, this will be reviewed every 5 years.
£5000 is ringfenced for the Froghall Tunnel Survey
Signed for the Trustees
……………………………………………….
Position Secretary
Name (Printed) Peter Matthews
Date
10