Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
CHARITY REGISTRATION NUMBER: 1170027
Runcorn Locks Restoration Society Unaudited Financial Statements 31 December 2024
Chartered accountants Sycamore House Sutton Quays Business Park Sutton Weaver Runcorn Cheshire WA7 3EH
AGP
Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Financial Statements
Year ended 31 December 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 15 |
| Notes to the detailed statement of financial activities | 16 |
Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Trustees' Annual Report
Year ended 31 December 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.
Reference and administrative details
Registered charity name Runcorn Locks Restoration Society Charity registration number 1170027 Principal office 119 Oxford Road Runcorn Cheshire WA7 4PA
The trustees
Mr G Wallace Mr D Steele Mr J D Woodward North Mrs S Stapleton Mrs A Lewis Mr N Hutchinson Mr O Ferguson Independent examiner Simon McLean FCA Sycamore House Sutton Quays Business Park Sutton Weaver Runcorn Cheshire WA7 3EH
Structure, governance and management
The charity is constituted by association.
The trustees are appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. All RLRS trustees on becoming a trustee are provided with a copy of the guidance issued by the charity commission on public benefit and are required to sign an acceptance of regard.
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Trustees' Annual Report (continued)
Year ended 31 December 2024
Objectives and activities
The purpose of the charity is to further the preservation conservation, restoration and maintenance of the link between Bridgewater and Manchester Ship canals and to promote and stimulate public interest in and encourage the fullest appropriate use by the public of, the whole canal and its environs.
Work at the charity's H.Q. continued through 2024 and the community garden was maintained during this period.
The charity received Area Forum funding from Halton Borough Council to conduct an archaeological dig to uncover parts of the original canal network and stimulate interest in the charity.
Work also began on the Town Improvement Plan (TIP) grant with the appointment of a Project Manager and commencement of design and procurement activities.
Achievements and performance
The charity continued to work to its object of reconnecting the Bridgewater canal to the canal network. This will benefit the town and the wider community by creating jobs and promoting tourism, thus helping to regenerate Runcorn Town.
RLRS volunteers continue to support the charity with general maintenance of the area. Volunteers also supported aspects of the grant funded work.
Financial review
In the year ended 31 December 2024 the charity's incoming resources exceeded its outgoing resources by £3,497, leaving reserves in surplus by £5,183, all of which are unrestricted funds.
Our financial position is stable, although fundraising has been limited throughout the year. However, we are using all our resources to recruit new members and identify new revenue streams.
Reserves policy
It is the policy of the trustees going forward is to hold money in reserve for unforeseen expenditure. This policy will come into effect when our reserves improve.
Plans for future periods
RLRS are certain about our future. We have clear aims and objectives to ensure our future as a charity.
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Trustees' Annual Report (continued)
Year ended 31 December 2024
The trustees' annual report was approved on 18 March 2025 and signed on behalf of the board of trustees by:
Cs by:
Mr G Wallace Trustee
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Independent Examiner's Report to the Trustees of Runcorn Locks Restoration Society
Year ended 31 December 2024
I report to the trustees on my examination of the financial statements of Runcorn Locks Restoration Society ('the charity') for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Simon McLean FCA Independent Examiner
AGP Chartered Accountants Sycamore House Sutton Quays Business Park Sutton Weaver Runcorn Cheshire WA7 3EH
18 March 2025
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Runcorn Locks Restoration Society
Statement of Financial Activities
Year ended 31 December 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 6,162 | 18,153 | 24,315 | 584 |
| Investment income | 5 | 78 | – | 78 | 2 |
| ----------------------- | ---------------------------- | ---------------------------- | -------------- | ||
| Total income | 6,240 | 18,153 | 24,393 | 586 | |
| ======================= | ============================ | ============================ | ============== | ||
| Expenditure | |||||
| Expenditure on charitable activities | 6,7 | 2,743 | 18,153 | 20,896 | 2,443 |
| ----------------------- | ---------------------------- | ---------------------------- | ----------------------- | ||
| Total expenditure | 2,743 | 18,153 | 20,896 | 2,443 | |
| ======================= | ============================ | ============================ | ======================= | ||
| ----------------------- | ---------------------------- | ---------------------------- | ----------------------- | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 3,497 | – | 3,497 | (1,857) | |
| ======================= | ============================ | ============================ | ======================= | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 1,686 | – | 1,686 | 3,543 | |
| ----------------------- | ---------------------------- | ---------------------------- | ----------------------- | ||
| Total funds carried forward | 5,183 | – | 5,183 | 1,686 | |
| ======================= | ============================ | ============================ | ======================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 13 form part of these financial statements.
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Runcorn Locks Restoration Society
Statement of Financial Position
31 December 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Current assets | |||||
| Cash at bank and in hand | 8,017 | 2,886 | |||
| Creditors: amounts falling due | |||||
| within one year | 10 | 2,834 | 1,200 | ||
| ----------------------- | ----------------------- | ||||
| Net current assets | 5,183 | 1,686 | |||
| ----------------------- | ----------------------- | ||||
| Total assets less current liabilities | 5,183 | 1,686 | |||
| ----------------------- | ----------------------- | ||||
| Net assets | 5,183 | 1,686 | |||
| ======================= | ======================= | ||||
| Funds of the charity | |||||
| Unrestricted funds | 5,183 | 1,686 | |||
| ----------------------- | ----------------------- | ||||
| Total charity funds | 12 | 5,183 | 1,686 | ||
| ======================= | ======================= |
These financial statements were approved by the board of trustees and authorised for issue on 18 March 2025, and are signed on behalf of the board by:
Cs by:
Mr G Wallace Trustee
The notes on pages 7 to 13 form part of these financial statements.
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Runcorn Locks Restoration Society
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 119 Oxford Road, Runcorn, Cheshire, WA7 4PA.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Government grants (continued)
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Notes to the Financial Statements (continued)
Year ended 31 December 2024
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 5,544 | – | 5,544 | ||
| Grants | |||||
| Government grant income | – | 18,153 | 18,153 | ||
| Subscriptions | |||||
| Membership fees | 618 | – | 618 | ||
| ----------------------- | ---------------------------- | ---------------------------- | |||
| 6,162 | 18,153 | 24,315 | |||
| ======================= | ============================ | ============================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 19 | – | 19 | ||
| Grants | |||||
| Government grant income | – | – | – | ||
| Subscriptions | |||||
| Membership fees | 565 | – | 565 | ||
| -------------- | -------------- | -------------- | |||
| 584 | – | 584 | |||
| ============== | ============== | ============== | |||
| 5. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 78 | 78 | 2 | 2 | |
| ============== | ============== | ============== | ============== |
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Notes to the Financial Statements (continued)
Year ended 31 December 2024
6. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Direct charitable activities | 1,843 | 18,031 | 19,874 | |
| Support costs | 900 | 122 | 1,022 | |
| ----------------------- | ---------------------------- | ---------------------------- | ||
| 2,743 | 18,153 | 20,896 | ||
| ======================= | ============================ | ============================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Direct charitable activities | 1,963 | – | 1,963 | |
| Support costs | 480 | – | 480 | |
| ----------------------- | -------------- | ----------------------- | ||
| 2,443 | – | 2,443 | ||
| ======================= | ============== | ======================= | ||
| Expenditure on charitable activities by activity type | ||||
| Activities | ||||
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Direct charitable activities | 19,874 | – | 19,874 | 1,963 |
| Governance costs | – | 1,022 | 1,022 | 480 |
| ---------------------------- | ----------------------- | ---------------------------- | ----------------------- | |
| 19,874 | 1,022 | 20,896 | 2,443 | |
| ============================ | ======================= | ============================ | ======================= | |
| Independent examination fees | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 900 | 480 | ||
| ============== | ============== |
7. Expenditure on charitable activities by activity type
8. Independent examination fees
9. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
No trustee expenses have been incurred during the year.
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Notes to the Financial Statements (continued)
Year ended 31 December 2024
10. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 997 | 1,200 |
| Social security and other taxes | 1,837 | – |
| ----------------------- | ----------------------- | |
| 2,834 | 1,200 | |
| ======================= | ======================= |
11. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 18,153 | – |
| ============================ | ============== |
12. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 Jan 2024 | Income | Expenditure | 31 Dec 2024 | |
| £ | £ | £ | £ | |
| General funds | 1,686 | 6,240 | (2,743) | 5,183 |
| ======================= | ======================= | ======================= | ======================= | |
| At | At | |||
| 1 Jan 2023 | Income | Expenditure | 31 Dec 2023 | |
| £ | £ | £ | £ | |
| General funds | 3,543 | 586 | (2,443) | 1,686 |
| ======================= | ============== | ======================= | ======================= | |
| Restricted funds | ||||
| At | At | |||
| 1 Jan 2024 | Income | Expenditure | 31 Dec 2024 | |
| £ | £ | £ | £ | |
| Restricted Funds | – | 18,153 | (18,153) | – |
| ============== | ============================ | ============================ | ============== | |
| At | At | |||
| 1 Jan 2023 | Income | Expenditure | 31 Dec 2023 | |
| £ | £ | £ | £ | |
| Restricted Funds | – | – | – | – |
| ============== | ============== | ============== | ============== |
Restricted funds relate to project management support for Runcorn Old Town investment plan.
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Notes to the Financial Statements (continued)
Year ended 31 December 2024
13. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Current assets | 8,017 | 8,017 |
| Creditors less than 1 year | (2,834) | (2,834) |
| ----------------------- | ----------------------- | |
| Net assets | 5,183 | 5,183 |
| ======================= | ======================= | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Current assets | 2,875 | 2,875 |
| Creditors less than 1 year | (1,200) | (1,200) |
| ----------------------- | ----------------------- | |
| Net assets | 1,675 | 1,675 |
| ======================= | ======================= |
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Management Information
Year ended 31 December 2024
The following pages do not form part of the financial statements.
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD
Runcorn Locks Restoration Society
Detailed Statement of Financial Activities
Year ended 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 5,544 | 19 |
| Government grant income | 18,153 | – |
| Membership fees | 618 | 565 |
| ---------------------------- | -------------- | |
| 24,315 | 584 | |
| ---------------------------- | -------------- | |
| Investment income | ||
| Bank interest receivable | 78 | 2 |
| -------------- | -------------- | |
| ---------------------------- | -------------- | |
| Total income | 24,393 | 586 |
| ============================ | ============== | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Activities undertaken directly | ||
| Salary Costs | 8,302 | – |
| Equipment, repairs and maintenance | 1,754 | – |
| Insurance | 517 | 627 |
| Other motor/travel costs | 25 | – |
| Project development | 7,875 | _ |
| Computer & office costs | 905 | 756 |
| Marketing & Webhosting | 361 | 281 |
| Bank charges | 62 | 62 |
| Membership fees | 73 | 237 |
| ---------------------------- | ----------------------- | |
| 19,874 | 1,963 | |
| ---------------------------- | ----------------------- | |
| Governance costs | ||
| Governance costs - accountancy fees | 1,022 | 480 |
| ----------------------- | -------------- | |
| ---------------------------- | ----------------------- | |
| Total expenditure | 20,896 | 2,443 |
| ============================ | ======================= | |
| ---------------------------- | ----------------------- | |
| Net income/(expenditure) | 3,497 | (1,857) |
| ============================ | ======================= |
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Docusign Envelope ID: 16E96C16-A347-452B-8552-98B0EADA40DD