## **Friends of the Cromford Canal** (Registered charity, number 1164608) **Financial statements for the year ended 31 December 2025** |**Page**|**Contents**| |---|---| |2 - 6|Trustees’ annual report| |7|Independent examiner’s report| |8|Receipts & payments account| |9|Statement of assets & liabilities| |10 - 12|Notes to the accounts| # **Friends of the Cromford Canal Trustees’ annual report for the year ended 31 December 2025** **Full name** Friends of the Cromford Canal **Organisation type** Charitable incorporated organisation **Registered charity number** 1164608 **Principal address** 12 Holymoor Road, Holymoorside, Chesterfield, Derbyshire, S42 7DX ## **Trustees** David Martin, Chair John Barker, Vice Chair & Treasurer Richard Handley, Executive Secretary Jack Brown MBE Ian Hooker LLB Michael Kelley Hugh Potter, Archivist and Portal Editor David Ratner Stephen Parish Judy Berry, from 01/09/2025 ## **Independent examiner** Eva Stevens, employee of Community Accounting Plus, Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG1 5GL ## **Governance and management** The charity is operated under the rules of its CIO – Association constitution adopted 30 November 2015 and most recently amended 20 April 2018. We advertise in our quarter journal "Portal" for interested parties: any potential new Trustees are asked to write a short pen-profile and are then interviewed. Our constitution requires a minimum of three and a maximum of twelve Trustees: we currently operate with ten, three of whom are standing down and opting to seek reappointment / re-election at the 2026 AGM. We are always on the lookout for suitable candidates to be Trustees. The Trustees operate the charity through core administration functions including Treasury, Membership, IT and two main sub-committees, covering Restoration & Trading operations. Trustees met eight times during 2025 plus presented the 2024 annual report and accounts at the April 2025 AGM: Trustee meetings were held either in blended video conferencing or in-person format. ## **Operating the charity** Our charity is operated 100% by volunteers and we have over 100 of them, covering Trading operations, Work Parties and specialist roles such as Engineering support. 2 ## **Friends of the Cromford Canal** ## **Objectives and activities** The objects of the CIO are restoration, reconstruction, preservation and maintenance of the Cromford Canal, its associated buildings, towing path, structures and craft and the conservation of its natural character as a navigable inland waterway system for the benefit of the public. ## **Summary of the main activities undertaken for the public benefit** Strategic and tactical conservation and restoration work undertaken by volunteers, funded by in-house trading and grants & donations. The public has expanded access to the 14.5 miles of the canal for walking and cycling, and we operate a trip boat on a short stretch of canal which carries around 5,000 passengers annually. ## **Public benefit statement** The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'. ## **Achieving the aims of the charity** Trustees are mindful that the stated objective of the charity is “ _the restoration, reconstruction, preservation & maintenance of the Cromford Canal, its associated buildings, towing path, structures & craft & the conservation of its natural character as a navigable inland waterway system for the benefit of the public_ ”. Accordingly, we constantly direct and measure ourselves against these aims. **Restoration** : work has continued at Beggarlee, with groundwork around the newly installed drainage headwalls and footpath clearance, with grass seed being spread around the profiled gully banks: the work being undertaken by FCC volunteer work parties. The Waterway Recovery Group (WRG) contributed to the finishing works of the flood mitigation zone in May 2025. We are now at a standstill as far as any physical work goes at Beggarlee while we resolve our issues with Canal & River Trust over land ownership. In the meantime, we are undertaking more design work of the channel and applying for planning permission to put in an additional winding hole in the canal extension. A detailed geo-technical survey of the Aqueduct Cottage to Gregory Tunnel stretch that was previously completed by external consultants has now been presented to the canal owner (Derbyshire County Council), and discussions continue with DCC on a plan for remedial strengthening work to certain parts of the canal embankment. **Preservation & maintenance** : Our weekly work parties have been hard at work as usual litter picking, strimming vegetation, repairing and painting fences, planting hedges, repairing footpaths, digging out silt traps, rebuilding steps etc., at many places along the canal including Pinxton Wharf, High Peak Junction, Cromford, Whatstandwell, Jacksdale, Ambergate and the piece of canal that FCC actually owns at Lower Hartshay. The above is only a short summary of the fantastic contribution the FCC work parties make to our charity’s objective – more detail can be found on our website. 3 ## **Friends of the Cromford Canal** ## **Fund raising - Trading update 2025.** Our Trip Boat “Birdswood” started up again in April and completed the cruising season in October: cruising was largely trouble free with adequate water supply from the Cromford Mills hydro-scheme. Additionally, we funded a small amount of spot dredging and weed removal during September in conjunction with DCC along the cruising section at the Cromford end of the canal: that joint funding project also then facilitated DCC being able to fund weed clearance from the Wigwell aqueduct right through to Ambergate. Trading Operations (boat and merchandise sales) have generated another record surplus for the charity’s cash reserves: 75% of bookings for the boat were through online methods, and a total of 80% of the revenue was delivered by cashless means. The major cost of running our Trading Operations is our trip boat and the need to maintain our certifications with the Maritime & Coastguard Agency: in late 2025 we had two successful MCA inspections (Out of Water structural integrity and In-Water Domestic Safety Management) and as a result of the hard work of the maintenance team (including the installation of additional technical changes to the boat due to new safety legislation) a new Passenger Certificate has been issued to us by the MCA. The specific fund-raising appeal launched late in 2024 for replacement windows for Birdswood ended up generating over £2,500 of donations towards the cost of the windows – the balance being funded from FCC’s cash reserves. The new windows were installed in March 2025 and have proven to be a great asset – as has the new “cratch-cover” for the rear deck. Merchandise sales accounted for over 25% of our Trading Operations revenue, which is thanks to dedicated volunteers who manage the Weighbridge shop at Cromford, deliver wholesale sales, and fulfil online orders from our website. We have an active sub-committee of the charity that looks after the operation of the boat and shop and that is now actively planning for the upcoming 2026 cruising season including developing relationships with other elements of the local visitor economy. ## **Fund raising – Memberships** Revenues raised from membership fees are the second largest source of our regular funding, and where members have consented, we also claim Gift Aid from the HMRC: in 2025 we were successful in reclaiming nearly £4,000 from current and previous years. Our membership records are in very good shape and are filed securely in a central “cloud storage” area: we have a largely stable but slightly shrinking base of 520 individuals (including joint and lifetime members) that we would like to grow. 4 ## **Friends of the Cromford Canal** ## **Fund raising – Strategic** The charity’s three main means of generating funding have traditionally been through trading, membership fees and ad hoc donations and legacies. Trustees are grateful for a local volunteer who has taken on the task of low-value fund raising through various bids, and in 2025 we were successful in securing four small grants from The Weeping Cross Fund, Doyly Carte Trust, William Dean Trust and Morrisons Foundation totalling £6,169. These grants were spent on purchase of coir rolls, chainsaw training and bridge repairs. In addition to grants we continue to receive small individual donations made through our online portal. Our aspirations for 2026 include work on more elements of the Beggarlee project, to include the new lift bridge, land purchases, construction of a winding hole and putting the second 30 meters “in water”: these costs will be funded from a mixture of cash reserves and significant additional fund raising. ## **Strategic relationships** Trustees continue to cement key relationships with Partners: examples of these include: - Regular meetings with the CEO Arkwright Society. - Regular formal (and informal) meetings with Derbyshire County Councils countryside services team. - Ongoing working relationships with the Erewash Canal Development & Preservation Association. - Ongoing contact with local Canal & River Trust staff. - Involvement with the Northern Canals Association. - Significant input was provided to the Derwent Valley Mills World Heritage Site management plan. - Liaison with the Cromford Canal & Codnor Park Reservoir Group. ## **Communications and publicity** Keeping the charity in the public eye is key for us and this is done through a variety of means: we published four editions of our quarterly journal “Portal” in 2025. We regularly send updates to our database of 1500 email contacts and use social media – mainly Facebook: our FCC Facebook group has grown 700% over the last five years to 5600 members (an increase of 1400 in one year). We constantly update and refresh content on our new website and we regularly supply content and articles to a range of partners including DVMWHS, Chesterfield Canal, IWA, Peak advertiser, ECP&DA, Derbyshire Times, Derbyshire Now, Waterways World, and Towpath Talk. In September, we received a very prestigious award from Trip Advisor for our trip boat Birdswood – which is apparently one of the top ten percent of things to do in the world: we intend to exploit this fantastic epithet! 5 Friends of the Cromford Canal Public and member 8ngagwn￿t Trustees are acutely aware that we need to constsnty engage with not only FCC members, but the viider interested public and VR are constantly tying to expand this area of our operation. In 2025 we held a total of eleven so¢ial ev￿5 on a vanety of subj'ects at the chlrch hall at Ir￿ville, with arourKI 31>40 attervjees at each (albeit mainly FCC members) arKI as planned also held two other very successfijl events at Cromford's Gothic Warehouse." revenue from these event5 was over £2.5CQ. In September delegates from The Inland Waterway Association's AGM attended the Beggarlee exiension to vie*V our w_restated)_
Total
Funds
£
**Note**
**Receipts**
4987
Bank interest
125
Fundraising
88126
Grants & donations
**2**
5373
Memberships
65043
Trip boat income (Trading Operations)
163654
**Total receipts**
**Payments**
832
Admin & accountancy
165
Bank charges
5405
Consultancy & planning
590
Canal structure/maintenance
14753
Beggarlee canal restoration
566
Events & room hire
2466
General insurance
2114
Gen. advertising, printing & FCC website
313
Memberships & subscriptions
2257
Miscellaneous expenditure
3483
Printing & stationery
463
Speakers
98
Telephone & postage
-
Training
25995
Trip boat expenditure (Trading Operations)**9**
1270
Working party/WRG
32249
Tools & equipment
93019
**Total payments**
70635
**Net receipts/(payments)**
157034
Cash funds at start of this period
-
Transfers between funds
227669
**Cash funds at end of this period**|**Unrestricted**
**Funds**
**£**
4410
664
22650
5931
73010
**106665**
902
510
-
714
-
1571
2207
959
496
474
3287
422
175
200
31540
805
2851
**47113**
59552
223877
(8317)
**275112**|**Restricted**
**Funds**
**£**
-
-
6169
-
-
**6169**
-
-
-
5533
9783
-
-
-
-
-
-
-
-
1004
-
-
54
**16374**
(10205)
3792
8317
**1904**|**_2025_**
**Total**
**Funds**
**£**
4410
664
28819
5931
73010| |---|---|---|---| ||||**112834**| ||||902
510
-
6247
9783
1571
2207
959
496
474
3287
422
175
1204
31540
805
2905| ||||**63487**| ||||49347
227669
-| ||||**277016**| 8 Friends of the Cromford Canal Statement of assets and liabilities at 31 December 2025 2024 2025 Cash assets Bar* accoLYts Cash in 227619 50 227669 276966 50 277016 Other monetary assets Stock Debtor5 PrepayTnent. bELTar￿e 2798 3351 5970 62 9383 2798 Assets retained for the charity's own use Trip boat'Birdswood' & its fixtres & fith'r¥Js, pLrctrHsed in JLty 2013, cost £61,683. D￿lper Tn￿k. pwthsed ￿1￿mber 2016, cost £3.900. LarKI at Cromford ca￿Tr Lar¥Jley Mill, p￿se completed December2019, cost £9.697. La￿1 at Ct7)mford CaTBI at Hartslpy, 500 yards, donated. Welfare ￿1( pwctssed Febnwry 2023, cost £10,104. Volbt) Digger. purchased September 2024. cost £28.800. Ger£ral equipmenL Liabililies Creditors 44 1744) 3168 (3168) These finana ment are accep on behalf of the chanty by: Signed John Barker. Date 13 rustee ## **Friends of the Cromford Canal Notes to the accounts for the year ended 31 December 2025** ## **1. Receipts & payments accounts** Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand. ## **2. Grants & donations** |**Grants & donations**||| |---|---|---| |**Unrestricted**
**Restricted**
**Total**
**£**
**£**
**£**
Ardent
500
-
500
HMRC Gift aid
3884
-
3884
Morrisons Foundation
-
2929
2929
Sundry grants & donations
5696
-
5696
Boat windows donation
2500
-
2500
Mr J Drinkwater
10070
-
10070
The D'Oyly Carte Charitable Trust
-
1240
1240
The William Dean Trust
-
1000
1000
Weeping Cross Fund
-
1000
1000
**22650**
**6169**
**28819**
**Funds analysis**
**Opening**
**Receipts(Payments) Transfers**
**balance**
**£**
**£**
**£**
**£**
**Unrestricted funds**
General
174042
106665
(47113)
(8317)
**Designated funds**
Restoration
40000
-
-
-
Land purchase donations
9835
-
-
-
**223877**
**106665**
**(47113)**
**(8317)**
**Restricted funds**
Lower Hartshay
2530
-
(1626)
-
Beggarlee canal restoration
1262
-
(9783)
8521
Coir rolls (Morrisons)
-
2929
(2721)
(208)
Coir rolls (William Dean)
-
1000
-
-
Chainsaw course (Weeping Cross)
-
1000
(1004)
4
Bridge repair (D'Oyly Carte)
-
1240
(1240)
-
**3792**
**6169**
**(16374)**
**8317**|**Total**
**£**
500
3884
2929
5696
2500
10070
1240
1000
1000|**Closing**
**balance**
**£**
225277
40000
9835| ||**28819**|| |||**275112**| |||904
-
-
1000
-
-| |||**1904**| ## **3. Funds analysis** The transfer from the Coir rolls (Morrisons) fund to the General fund reflects the release of any restrictions on the use of these funds. 10 ## **Friends of the Cromford Canal** The transfer from the General fund to the Beggarlee canal restoration and Chainsaw Course (Weeping Cross) fund is to cover the deficit on these activities. Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds and resources set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. The specific purposes for which the restricted funds are to be applied are as follows: Lower Hartshay – repairs & maintenance of Lower Hartshay land. Beggarlee canal restoration - for the Beggarlee Restoration project. Coir rolls (Morrisons & William Dean) – towards purchase of coir rolls. Chainsaw course (Weeping Cross) – towards the course and protective clothing. Bridge repair (D’Oyly Carte) – for the bridge repair at Lockwoods. ## **4. Debtors** |Bank interest due for 2025
Beggarlee security deposit return
**ditors**
Admin & accountancy (IE fee)
Printing & stationery
Trip boat office & shop
Trip boat purchases for resale|**£**
3440
2530| |---|---| ||**5970**| ||**£**
774
444
1569
381| ||**3168**| ## **5. Creditors** ## **6. Trustees’ remuneration** Trustees received no expenses, remuneration or benefits in this period. ## **7. Related party transactions** There were no related party transactions in this period. ## **8. Glossary of terms** **Creditors:** These are amounts owed by the charity, but not paid during the accounting period. **Debtors:** These are amounts owed to the charity, but not received in the accounting period. **Prepayments:** These are services that the charity has paid for in advance, but not used during the accounting period. 11 ## **Friends of the Cromford Canal** **Restricted funds:** These are funds given to the charity, subject to specific restrictions set by the donor, but still within the general objects of the charity. ## **9. Analysis of the costs of the trip boat ‘Birdswood’ (Trading Operations)** |Advertising & website
Bank, Stripe & PayPal charges
Boat insurance
Boat repairs & maintenance
Boat windows
Crew costs
Maritime & Coastguard Agency
Miscellaneous boat costs
Purchases for resale
Refund to customers
Tripboat admin, office & shop
Working party/WRG|**£**
1778
842
663
4327
5000
643
2352
4138
8707
280
2584
226| |---|---| ||**31540**| 12