Company registration number: 10773197 Charity registration number: 1176252
## Nottingham Narrow Boat Project Limited
Trading as
Meganandtinks
(A company limited by guarantee) Annual Report and Financial Statements
for the Year Ended 31 December 2023
Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6 to 7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 16|
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Reference and Administrative Details**
**Trustees** Patrick Emmerson Gary Bramley Caroline Greaves James Barron Amber Tipper Susan Pynegar **Secretary** Patrick Emmerson **Charity Registration Number** 1176252 **Company Registration Number** 10773197 **Registered Office** 23 Richmond Drive Nottingham NG3 5EL **Independent Examiner** John O'Brien, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Page 1
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2023.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Patrick Emmerson Gary Bramley Caroline Greaves James Barron Amber Tipper Susan Pynegar (appointed 1 June 2023)
Secretary: Patrick Emmerson
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 26/11/2017. It has no share capital and the liability of each member in the event of winding-up is limited to £10.
## _**Recruitment and appointment of trustees**_
The Trustees have agreed a skill set, or sets, that we believe we need to enhance the effectiveness of the Board of Trustees. The Chairman and another Trustee will meet the potential new Trustee and if both parties wish to continue, the potential new trustee will need to have a relevant skill set and desire to be involved in our activities. They would then be invited to sit in on a number of Board meetings where we encourage them to participate. If, after this, both parties wish to proceed the new Trustee will be appointed.
Page 2
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Trustees' Report**
## **Objectives and activities**
## _**Objects and aims**_
To provide or assist in the provision of facilities, in the interest of social welfare, for recreation or other leisure time occupation, of individuals who have need of such facilities by reason of their youth, age or infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
## _**Objectives, strategies and activities**_
The charitable Company will operate 2 x 70 ft narrow boats, one specially equipped with disabled access and amenities, providing facilities for charitable organisations and groups to operate day and residential recreational trips for their service users and clients, on the local Nottinghamshire waterways to improve the conditions of life for the participants.
The Narrow boats, will be operated by experienced qualified volunteer crews, who enable groups, of up to twelve people in each boat, to gain experience of working as a team, to support less able or less mobile colleagues, improving social contact and friendship, to provide comfort to the elderly and to promote multi-cultural and multi-racial contacts. The volunteer crew will do this by encouraging and helping the participants to engage in the operation of the boats and canal infrastructure, such as locks and bridges, experience a new environment of the and engage with the waterway community at large.
We have been able to run a full season of trips,
## _**Public benefit**_
The charitable company will operate narrow boats providing facilities for charitable organisations and groups to deliver day and residential recreational trips for their service users and clients, on the local waterways to improve the conditions of life for their participants. These facilities are provided at nominal cost to ensure access to the facilities by all members of the community.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
We have continued to maintain the activity of the Project and have increased the number of Volunteers which has enabled us to increase our capacity to increase our trips. This means we can offer our services to a wide coverage of organisations.
## **Financial review**
We have also been fortunate to receive another 3 year grant from the Lottery Fund which secures our future for the next 3 years.
## _**Policy on reserves**_
We have a Reserves Policy which aims to cover a seasons expenditure.
## _**Principal risks and uncertainties**_
Long Term funding.
Page 3
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Trustees' Report**
## **Statement of Responsibilities**
The trustees (who are also the directors of Nottingham Narrow Boat Project Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
**----- Start of picture text -----**
.........................................
**----- End of picture text -----**
......................................... Patrick Emmerson Company secretary and trustee
## **Small companies provision statement**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Page 4
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Independent Examiner's Report to the trustees of Nottingham Narrow Boat Project Limited ('the Company')**
## **Independent examiner’s report to the trustees of Nottingham Narrow Boat Project Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the company for the period ended 31 December 2023.
## **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 that in any material respect:
1. 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
3. 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
4. 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.
......................................
John O'Brien MSc, FAIA, FCCA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners
Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Date:.............................
Page 5
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Total income
**Expenditure on:**
Charitable activities
5
Total expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
14|**Unrestricted**
**funds**
**£**
-
10,440
10,440
(15,820)
(15,820)
(5,380)
(5,380)
52,676
47,296|**Restricted**
**funds**
**£**
-
68,287
68,287
(57,302)
(57,302)
10,985
10,985
-
10,985|**Total**
**2023**
**£**
-
78,727
78,727
(73,122)
(73,122)
5,605
5,605
52,676
58,281|**Total**
**2022**
**£**
13,101
5,246|
|---|---|---|---|---|
|||||18,347|
|||||(42,067)|
|||||(42,067)|
|||||(23,720)|
|||||(23,720)
76,396|
|||||52,676|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 14.
The notes on pages 9 to 16 form an integral part of these financial statements. Page 6
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Total income
**Expenditure on:**
Charitable activities
5
Total expenditure
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
14|**Unrestricted**
**£**
13,101
5,246
18,347
(30,431)
(30,431)
(12,084)
(12,084)
64,760
52,676|**Restricted**
**£**
-
-
-
(11,636)
(11,636)
(11,636)
(11,636)
11,636
-|**Total**
**2022**
**£**
13,101
5,246|
|---|---|---|---|
||||18,347|
||||(42,067)|
||||(42,067)|
||||(23,720)|
||||(23,720)
76,396|
||||52,676|
The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **(Registration number: 10773197) Balance Sheet as at 31 December 2023**
|**Note**
**Current assets**
Debtors
7
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
8
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
14
**Unrestricted income funds**
Unrestricted funds
**Total funds**
14|**2023**
**£**
2,294
56,699
58,993
(712)
58,281
10,985
47,296
58,281|**2022**
**£**
1,329
51,962|
|---|---|---|
|||53,291
(615)|
|||52,676|
|||-
52,676|
|||52,676|
For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 6 to 16 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Amber Tipper Trustee
The notes on pages 9 to 16 form an integral part of these financial statements. Page 8
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **1 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
Nottingham Narrow Boat Project Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
## **Exemption from preparing a cash flow statement**
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 9
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Government grants**
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
On 1 July 2018 the charity took ownership of two narrow boats, Megan and Tinkers Leen. The boats were transferred from Nottingham City Council for the sum of £1, and are to be used for the general charitable purposes of the charity. The boats will not be capitalised or depreciated within the financial statements.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Page 10
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from companies, trusts and similar proceeds
Grants, including capital grants;
Government grants|**Total**
**2023**
**£**
-
-
-|**Total**
**2022**
**£**
10,434
2,667|
|---|---|---|
|||13,101|
Page 11
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **3 Income from charitable activities**
|**Unrestricted**
**funds**
**General**
**£**
Sales and fees
10,440
Grants and donations
-
10,440
**4**
**Grants & donations**
The Big Lottery Fund
**5**
**Expenditure on charitable activities**
**Unrestricted**
**funds**
**General**
**£**
Boat & trip expenses
8,711
Purchases
-
Recruitment & certificates
-
Salaries
5,943
Staff expenses
-
Legal & professional
-
Office and administration
834
Volunteer expenses
332
15,820|**Restricted**
**funds**
**£**
-
68,287
68,287
**Unrestricted**
**funds**
**£**
-
**Restricted**
**funds**
**£**
13,172
-
84
26,597
15
-
17,040
394
57,302|**Total**
**2023**
**£**
10,440
68,287
78,727
**Restricted**
**funds**
**£**
68,287
**Total**
**2023**
**£**
21,883
-
84
32,540
15
-
17,874
726
73,122|**Total**
**2022**
**£**
5,246
-|
|---|---|---|---|
||||5,246|
||||**Total**
**£**
68,287
**Total**
**2022**
**£**
10,590
469
-
22,520
129
527
7,342
490|
||||42,067|
Page 12
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **6 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Pension costs|**2023**
**£**
31,856
684
32,540|**2022**
**£**
21,410
1,110|
|---|---|---|
|||22,520|
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
|Average number of employees|**2023**
**No**
2|**2022**
**No**
1|
|---|---|---|
2 (2022 - 1) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £684 (2022 - £476).
No employee received emoluments of more than £60,000 during the year.
|**7**
**Debtors**
Prepayments
**8**
**Creditors: amounts falling due within one year**
Other creditors|**2023**
**£**
2,294
**2023**
**£**
712|**2022**
**£**
1,329|
|---|---|---|
|||**2022**
**£**
615|
Page 13
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **9 Fees payable to independent examiner**
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
|Accounting Plus are analysed as follows:|||
|---|---|---|
|Independent examination
Other financial services|**2023**
**£**
610
439
1,049|**2022**
**£**
425
368|
|||793|
## **10 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **11 Trustees remuneration and expenses**
During the year the charity made the following transactions with trustees:
Trustees' remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **12 Related party transactions**
There were no related party transactions in the year.
Page 14
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **13 Charity status**
The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
## **14 Funds**
|**Unrestricted funds**
**_General_**
General fund
**Restricted funds**
Meganandtinks (Reaching
Communities)
**Total funds**
**Unrestricted funds**
**_General_**
General fund
**Restricted**
Building Capabilities
Meganandtinks (Reaching
Communities)
**Total restricted funds**
**Total funds**|**Balance at 1**
**January 2023**
**£**
52,676
-
52,676
**Balance at 1**
**January 2022**
**£**
64,760
8,431
3,205
11,636
76,396|**Incoming**
**resources**
**£**
10,440
68,287
78,727
**Incoming**
**resources**
**£**
18,347
-
-
-
18,347|**Resources**
**expended**
**£**
(15,820)
(57,302)
(73,122)
**Resources**
**expended**
**£**
(30,431)
(8,431)
(3,205)
(11,636)
(42,067)|**Balance at 31**
**December**
**2023**
**£**
47,296
10,985|
|---|---|---|---|---|
|||||58,281|
|||||**Balance at 31**
**December**
**2022**
**£**
52,676
-
-|
|||||-|
|||||52,676|
The specific purposes for which the funds are to be applied are as follows:
Meganandtinks(Reaching Communities) The Big Lottery has awarded an additional 3 years funding. The funding is for salaries and running costs.
Page 15
## **Nottingham Narrow Boat Project Limited**
## **Trading as Meganandtinks**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **15 Analysis of net assets between funds**
|**15 Analysis of net assets between funds**||||
|---|---|---|---|
|Current assets
Current liabilities
Total net assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
48,008
(712)
47,296|**Restricted**
**funds**
**£**
10,985
-
10,985
**Unrestricted**
**funds**
**General**
**£**
53,291
(615)
52,676|**Total funds at**
**31 December**
**2023**
**£**
58,993
(712)|
||||58,281|
||||**Total funds at**
**31 December**
**2022**
**£**
53,291
(615)|
||||52,676|
Page 16