Designated Charity Registratlon Number 1177483
SOUTH WE￿ HERTS NARROWBOAT TRUST CIO
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED
31 MARCH 202S

TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present the annual report and financial statements of the charity for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the Charitie5 Act 2011 and applicable UK
accountin8 Standards including FRS 102 and the Charities SORP IFRS 102}.
OBJEcnvES AND ACTIVITIES
The charitls objects are to provide mutual assistance training and education to Users of a narrow boat which ha5 been
built to a specification laid down by the Trust management commirtee and to oversee the day-to-day running and
organisation of the Trust, and to promote. without distinction of sex. sexual orientation, race, or of political, rellgious
or other opinions, the advancement ol education and the provision of facilities in the interests of social welfare for
recreation and leisure time occupation with the object of improvin8 the conditions of life of local residents.
The policies adopted in furtherance of these objects are to obtain finance by voluntary contributions, from users, and
8rants of sponsorship, and there has been no change in these durin8 the year.
All the Trust's Management/ Trusteesl Committee and workers are volunteers.
ACHIEVEMENTS AND PERFORMANCE
The Trust has significantly grown its R YA School Tralning income to £9,420 and moorings income is
up IO%. There is a sm311 drop in hire income, perhaps still due lo Covid and 8roups gettin8 Out of
the habit of bookinB, and also with the l)oats being a bit run down lookin8 after 2 years of inactivty.
We have continued our weekly Wednesday morning workgroup of between 3 to 6 people, whlch
has meant we have cleared the base of old accltrmulated Tubbish gettin8 prepared for new
training and workshop room5. The old sheds bein8 30+ years old. We have worked hard at
cleanin8 the boats more often inside and out and with it realising the need repaint and repalr.
The annual R YA School inspections have given rise to the tontinued need for more work on the
boats although wilh those specific costs are 20% down on14st year.
We were successful in obtainin8 a grant from The John Apthorp Charity of £15,LhJO which means we will
order and have built a new trainin8 room and community Space, whlch we wlll fit out approprlately.
We have malntained the contingency on both boat5, Dicks Folly will need replacinB in next 10-15
vears.
Several other projects are worthy of mention. In 2024 we Set out to improve OUT IT infrastructure
successfully implementing a new email system, building a revised website WTth new brandin&
starting to have more automated hlre and trainin8 booking system
FINANCIAL REVIEW
The organisation has generated total income for the year of £40,61812024 £20,603) including grant income (to fund
the new training rooml of £I5,C￿, training £9,42012024 £5,160). hirin85 £7,00412024 £7,344) and moorings & stora8e
£6,31012024 £5.7891.
After depreciation of fixed assets, net expenditure for the year totalled £2,49912024 £21.2171.
At 31" March 2025 net assets totalled £315,65912024 £318.1081 includin8 tash at Ikink £106,59712024 £89,0601 and
fixed assets £211,18912024 £234.6551.
Page I

TRUSTEES, REPORT IcoMfiNUEDI
FOR THE YEAR ENDED 31 MARCH 2025
In 2024, we re-examined our requirements with some of our buildings being 30+ years old and a
no longer fit for purpose, so next year we will replace several sheds with a new traininB and
community room. If we can raise more from trust and foundations then we will replace the very old
workshop and, much later a new toilet and storage building.
RESERVES POUCY
The trustees monitor free reserves regularly. Free reserves are ￿presented by unrestrirted funds excluding
designated fund5.
At March 31st 2025 restritted funds totalled £15.¢JXI related to the grant for con5trurtion of the trainin8 room and
communlty space.
Unrestricted funds total £3t)),659, of whlch £104,¢Xx) Is desl8nated for narrowboat replacement, trainlng room
con5trurtion, and general repairs.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charrty is a Charitable Incorporated Or8ani5atlon ICIOI governed by a constitution adopted on 8 March 2018. The
comrnittee meet up for a minimum of four meetin85 in any one year lo monitor the efficient d3y-to-day runnlng of the
charity. There are no paid staff.
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. TRUSTEES AND ADVISERS
South West Herts Narrowboat Trust CIO 15 an incorporaied charity re8iStered with the Charty Commi5slon Inumber
11774831.
The principal operating address of the charTty15.' 1 Eastnor. Bovingdon, Herts. HP3 ODL
The Trustees who served in the year and up to the date of this report were:
C West
NLuff
N Nieder
M Wackett
Trustee5 are appointed at the Annual General Meeting. The trustees have assessed the major rlsks to whlch the charltv
Is exposed and are sattsfied that system5 are in place to mltigate èxposure to the malor risks.
Page 2

5TATEMEKf OF TRUSTEES. RESPONSl8iullES
The Trustees are responsible for preparing the accounts in accordan￿ with applicable law and United Kingdom
Generally Accepted Accounting Practice.
Law applicable to charities in England and Wales require5 the trustees to prepare a¢counts for each financlal year which
give a true and fair view of the charrf¢rfs financial activities durin8 the year and of its financial positron at the end of the
year.
In preparing accounts giving a true and fair view, the Trustees should follow best practice and:
select suttable accountin8 policies and then apply them consi5tently*
make judgements and estimates that are reasonable and prudent..
state whether applicable accounting standards and statements of recommended practice have been followed,
subject to any departures disclosed and explained in the accounts,. and
prepare the accounts on the 80in8 concern basis unless it Is inappropriate to presume that the charity wlll
continue in operation.
The Trustees are responsible for keepin8 accountlng records that disclose with ￿asonable accuracy the flnancial
position of the Charity and which enable them to astertain the financial position of the charity ènd which enable them
to ensure that the accounts comply with the Charities Art 2011 and the provisions of the trust deed. They are also
responsible for safeguarding the a55ets of the charity and hence for lakin8 Teasonable steps for the prevention and
detection of fraud and other irregular￿les.
By order of the Trustees
Christopher West- Secretary & Trustee
Page 3

I report to the trustee5 on my examination of thè accounts of South West Herts Narrowboat Trust CIO
(the charity) forthe year ended 31 March 2025.
Re5ponslbillties and basis of report
As the charity trustee5 yuu are responsible for the preparation of the accounts in accordance wrth the
iequiiements of the Chartties Att 2011 Ithe Attl.
I report in respect of my examination of the charity's attounts carrled out under section 145 of the Att
and in carryin8 my examination I have followed the applicable Dirertion5 given by the Charity
Commi$5ion under settion 1451511bl of the ALt.
Independent e￿mIner'S ststement
I have completed my examination. I confimi that no material matter5 have come to my attention in
connettion with the examination 8ivln8 me cause to believe that in any materlal respect..
accounting records were not kept as required by sertion 130 of the Act- or
the accounts do not accord with those rec￿d$.. or
the accounts do not comply wrth the applicable fequifements concernin8 the form and content
of accounts set in the Charities (Accounts and Reports) Re8ulations 2CQ8 other than anv
requirement that the accounts give a true and fair view which Is not a rnatter considered as part
of an Independent examinatiM.
I have no concerns and have come across no other matters in eonnertion wlth the examination to which
attention should be drawn in thi5 ￿port it) order to enable a proper understanding of the account5 to be
reached.
James Currell
JrrF Accountants Ltd
Room 20. 1 Rocks Lane, London SW13 ODE
Date.. March 161h 2026

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
2025
unrestrl¢ted
2025
restricted
2025
total
2024
total
Income
Grant & donation5
Training courses
Hirin8S
Moorings
Interest recefvable
Storage
Electric
Total Sn¢ome
Expenditure
Repairs & runnin8 costs
Insurance
Website & IT costs
Licences
15,CrflO
15,CQO
9,420
9,420
5,160
7,344
4,632
1,525
1,157
785
20,603
3,870
2,176
3.870
2.176
2,440
708
40,618
708
25.618
15.C#X)
5.951
3.506
3.358
5,951
3,506
3,358
7,296
3.606
185
1,839
1,348
Light & heat
1,3C¥J
1,300
Accountancy fees
R YA packs
Tralning expenses
Business rates
Bank charges
Sundry expenses
Depreciation
Total expenditure
Net income/ lexpendlture)
Transfer between funds
Net movement In funds
Funds brought forward
Fund5 carrled forward
1.020
943
901
1,020
943
826
901
73
73
69
60
45￿)
49)
23,465
43,067
12.4491
518
23,465
43.067
{17,4491
26,073
41,820
121,2171
15,
117,4491
318,108
300,659
15,0
{2.4491
318,108
315.659
121.2171
339,325
318.108
15,000
Page 5

BALANCE SHEEr
FOR THE YEAR ENDED 31 MARCH 2025
Notes
2025
2024
Flxed Assets
Tangible assets
211,189
234,655
Current Assets
Prepayments
Cash at bank and in hand
4,(X55
106.597
110.602
89,060
89,060
C￿dItOrs.. Amounts Filllnq Due
Wlthln One Year
Accruals and deferred Income
6.133
6,133
5,607
5,607
Net Current Assets
104,469
83,453
Total Assets lèss Current Liabilltles
315,659
318,108
Represented by".
Funds
Restritted funds
Unrestricted funds
15,C
3CiI,6S9
318,108
. 315.659
318.108
Approved by the Trustees on 11 March 2026
Chrlstopher West- Chair
The notes on pa8e$ 7 to 8 form part of these accounts.
Pa¥e 6

NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
l. Accounting polides
Ba515 of preparation
The financial statements have been prepared under the historical cost convention and in accordance with
the CharTties Act 2011, the Charities (Accounts and Report51 Regulations 2CX)8. FRS 102 and the Statement of
Recommended Practice.. Accounting and Reporting by Charities IFRS 1021. The charity constitutes a public
benefit entr(y. The trustees consider that there are no material uncertainties about the charity&#39,'s ability
to continue a5 a goin8 concern.
Income rttognition
Income 15 recognised once the charfty has entitlement to the income. r( Is probable that the income wlll be
received and the amount of income receivable can be measured reliably. Donations, legaties and other forms
of voluntary income are recognised as incoming resources when receivable, except insofar as they are
Incapable of financial measurement. All other forms of income are reco8nised on a receivable basls. Income
relating exclusivefy to future accountin8 peri(MJ5 15 deferred.
Expenditure re¢o8nition
Expenditure is recognised when a liability 15 Incurred.
Restrfrted fvnds
Restricted funds are Subject to specific conditlons Imposed by donors or by the purpose of the appeal. The
john Apthorp Charity grant is treated as a restrfcted fund because it is for the MeetIn￿traInIng room projert.
Unrestrirted funds
Unrestrlcted funds represent funds that tan be applied at the Trustees discretion wlthln the general objects
of the charity. Desi8nated funds are unre5trlcted fund5 Sèt aside by the Trustees for 5peciflc purpose5.
Tangible fixed assets and depreclatl¢n
Tan8ible fixed assets are stated at cost less accumulated depreclation. Depreclation is provided at io%
reducin8 balance per annum. Asset5 under construttion are not depreciated until they are brought Into use.
2. Trustees remuneratlon benefits and expenses
No trustee received any remuneralion or benefrts for artlng as a trustee during the year12024: nill.
Three trustees were reimbursed expenses incurred on behalf of the charity totalling £9,158 12024.'nlll.
These reimbursements related to insurance, licences. repairs and runnin8 Costs. There were no other related
party transartions requiring disclosure durlng the year.
3. Employee5
There were no employees during the year.
Page 7

4. Fixed assets
Cost
Depreciation
Net Book Value
260,728
126.0731
234,655
123,6451
211,189
At l April 2023
Charge for year ended 31 March 2024
At 31 March 2024
Charge for year ended 31 March 2025
At 31 March 2025
260.728
126,0731
126,0731
123.6451
149,5381
260,728
260,728
Fixed assets include the two narrowboats and landing siage.
The contrattor deposit of £4,005 at 31 March 2025 is included within prepayments and relates to the
Meetin￿traInIng room project. No further project costs had been capitali2ed by the year end.
5. Funds
Restricted fund
Fund
Brought
forward
Incomt
Exptndlture
Transfers
Carrltd
forward
15,(X)O
Meetlngl tralning
room
rant
1S.(KM)
This fund represent5 a grant receNed for the meetingltraining room prolect. The projert commenced before
the year end. At 31 March 2025 the 8rant remain5 restricted pendin8 further project expendlture and
completSon of the prolect.
Unrestrlcted funds
Fund
Balance at I
ril 2024
Income
Expendrture
Transfers
Balance at 31
Maich 2025
General fund
Designated funds
235,108
83,Ch)J
25,618
143,0671
121,0001
21.CQO
196.659
104,CN)o
Total unrestricted
funds
318.IOB
25,618
143.0671
3￿,659
Deslgnated funds a￿ amounts Set aside by the trustees from unrestricted funds for future repairs and
replacement costs. They remaln unrestricted at the trustees discretion.
Deslgnated funds
Purpose
General contin
ency fund - boat & base re
Pickles Folly replacement fund
Dicks Folly replacement fund
Training room- trustee designation
2025
26,tbxi
25.LKJO
33.CQO
20,(LIO
2024
25,000
25,000
33,000
airs
Total designated fund5
104.¢X
83.CQO
Page 8