REGISTERED COMPANY NUMBER: 00726331 (England and Wales) REGISTERED CHARITY NUMBER: 209206 R•port of th• Trust••s and Consolidatod Flnanclal Stst•m•nts for th• Yèar Ended 31 D8¢ember 2024 For K?nnel and Avon Canal Trust ITho1 UHY Ross Brook• 31a Charnham Str••t Hungorford Berkshlre RG17 OEJ K•nn•t and Avon Canal Tru*t (Th•) Contents of the Consolidatgd Fin•n¢lal Statem•nts for tho Year Ended 31 Dttembor 2024 Pag• Report of lh8 Tru5te88 1*06 Indopgndent Examinrfs Rgport Consolldated Statement of Finantsal Actiwties Consolidetad Balanca Sheet 9t010 Charity Balanco Sh￿t 11to12 CcfflsdKlated Stat8mant of Cash 13to14 Nths to thg Consdidated Financlal Stateménts 15to17 Oetalled Stotoment of Fin8nryal Activiks 18to29 K•nn•t •nd Avon Canal Trust Re rt of th• Trusto•s ar •nd*d 31 D•t•mbv2024 for the Th8 TnISt￿ who are also directors of the ¢hanty and ifs subsid￿ry for Iho purpo888 of the Ccthpaniès Ad 20Q6. rTh￿nI thoir 18PC*t W￿ti the financial $tat¢mnts of thg chgrity and tt8 8ubsidi8ry lor Iho yO8r ended 31 Decfjrnb8r 2024. Th8 twslaès hBve adopted Ihe provisions of At￿￿nb"nO and Reptybng by Chhrili88.' Stat8rn8nt of R8commended Practi pplkcalA$ to thariti88 preparing Iheir Hccounts in 8ccotdanc8 ¥Ath the Finanu81 Roportsn9 SI￿dard applIca￿e In the UK and R6publiG of Irdand IFRS 1021 leffectN8 1 J8nuary 20191. Meryer of•ubsidiary CDrnpany Into tho Tnrst Folk)%￿￿0 tyraement by the trustees in October 2024, tharity5 SLthpa￿ry. Th8 K8nnal & Avon Can81 Trust IEnterpri881 Ltd, was into Ihe charity on 31 Decem￿r 2024, and 811 tt8 8888ts tr￿f•rr¥d. Thi5 report ￿11 be th& 188t con801idated repryt pr•58ntsd and fmm 1 JaThu8ry 2025. Tho Konrt*t & A¥￿ Can81 Tnjst has op8rat*S a6 a single company. 2024 In 5uinrnary Comp8r8bh from grants, dona00￿ and 18gade$ for th& Trust *$ £204,412 Ic(rfnpared wlth £105.81KI In 20231. Afurthor £486,294 th a888ts w88 donabJ to thè Trnj￿ by Ente￿n88 on its mar98rat￿r end. Commerc4d tumover in Eniorpris• incrnJs•d from £248k to £290k. 0￿ratIng co&l&, I￿￿dIng slaff ￿re signlfic4nily r8ducod. Ovwall. thè gr058 wofit margin was Incr•8s8d Irom 55% to 69%. Al year end. the as$8ts of Ertwprisa V*Ere dcfiated to theTru8t. and this is fyfigct•d in 8 final FKofil f¥urn of £2,282 for Entèrpri&è. Net casmow Improvod by 64% to £690.844. Thk8 wa8 a due to a G￿n￿natIon of a s&Jnificant k8gacy, lrnpro¥•d income and reduced co8ts. This incroase was refiècted in the Tru$fs totsl funds atthè ￿￿￿-￿rtd incre381ng by 21% to £1,284.780. Th1$ Induded £17,484 in ful￿￿. IntrodU¢t￿n Thè TrLBt888 present thelr annu81 tooethor ￿th tho consc4idat8d fin8nci* 8ts18mwrtB of the th&rity and its subsidlary for tho year ending 31 Decernbar2D24 vthld) are also prepargd to meet Ihe requiremenls for 8 dke¢tots' rewt nd accounts for Cr#npanl88 Act purposos. Thts finffiu•l 8tst8m8nts ccmply *4th Ihe Charibes Act 2011. the Conwani8s Act 2006, the TrusV$ ￿mI)randUrn and Ar￿deS Of￿&ti￿ation, arKI Accounting and RepNting by Ch8riJe$'. Ststementof Rowmm8nd8d Pract￿& IFRS1021. Our Purpose The ¢h0ritsble objects o1th8 Trust. 88 Set out in its Art￿￿$ of As$¢xiatK*n. are lo.. Pr¢mote, f8alitat8 and 8881st in the conservation. I￿otectiOn ond improvem8nl of th8 KeM6t wld Avon C8n•l and 11$ assodatad watorcoursgs. towpaths. ¥truclures aTrJ bJildings,' Advanc8 the educ81ion of lh• public in general of the sgnhfjcarts of th8 KenMt and Avon can￿ and ils •ssocl•t•d structuro&.' Protect ￿ con%rwo. obied8, sitas and building8 of aKha¢dotr￿. ar¢hite¢knJral. enginearing or histork Inlewt on. in ￿ vicinty of, or 0lh6ThIry8é 8S50(aat•d *iih Kennet and Avon Cana., and Promtsts arwj fadlitéte T￿eati￿81 use ofthè K8nn*t and Avon ￿al by a *ide seclbjn of th8 communty In t)rdw I Th•Trustse5 have had due ragwd tothè Charlty Commissb)n9V5 ￿ld81￿• on Pu￿￿ ￿nefit Page I K•nnet and Avon Canal Tru$t * Trust8• 1 Doc•rnbor 2024 fortho Ra￿•* of 2024 {•) ¢)rtrwww Th• Tw5f$ p*lNevementB are hè8wty r•liant on Iha ol tho b'mg and ¢xpwtlse of abwt lour hundwd volunteer8, who rn8inly cFgrat¥ ihrough the Trusvs eSoht Bmnches. Our tr￿18ts are exdusN8ly cre*ed by volunt88rs. loft￿ opening tsy$ are almost èntirely by volunteers, and our évonts and supp￿1 for cano18kl8 work are dollvered by volJnl8ars. Tho safety and ￿NbOing of our volunts8rs 8ntl siaff Is ther8for8 8 prioritylor trust888. At the end 012024. the Trust om three pgrt-Im& mèmbers of slaff. at Crofton pmvkllng edu¢atDnal ￿Jtr8a¢h and ￿ centralty managiTrJ administr8b"￿1and fin8nc8. Ibl Tru•t AclSv Crofton Croftcn Branth i& re4ionsible for rLmnltvJ croft￿ Beam EThJknÈs. a Grado 1118ted houshg the 0￿8&t b6am on&4fft in stll in its origind and 8111 a￿8 to Porform origrnal tss In 2024 ¢rofton wekomad 2,921 vi$ilor8 on ils 14 SttsaminG Days, Including 467 children. A furlhor 400 vL4ltors came along on its 17 d8y8. Crofion 1$ 8150 aclfve in wlraa¢h to bcal sthoo18. 18d by its Learning snd Commuiity Oevdopmontoffieor. pr&pared in 2024 for r8p8lr5 10 the Boller House $Wight Pump House byiTrJows. A £30,000 appeal has been kiunthed I0￿rdS thi5 C0518nd the now undeway. Thè Str¥lhy bull ding, purchawl from CRT in 2023 ha$ b•en renovat8d and ￿11 be u8•J 08 8 lÈamlng and c8ten.ng SP￿ In 2025. Publk Btsot Trlp Tho Trust operat&8 five Trip BoaLq along tht ¢ond, b*ilh b8s*s at Braoyord on Avon, D•vYL•s. Hungerford, Newbury #nd R88ding. In 2024 Ih0$0 boats logthor ran over 600 F4Jbllc trlps. providing mor8 9.000 pa0￿6 viith lh& oppothnlty ks experfeneè tho d81KJhts of canvl boating. As wèll as lh• regular blps thls In¢lwJed many th•mod trips- Halk)w*8n, Plr8te and Santa trip&, Croft ￿r, Gln tgsfjng ond Crearn T88 trfp$ pluts Quiz and Musi¢ ni9ht trips. In addition. our Trip Boats ran over 150 ¢h$rterad trips- privak hires forfamity or MmrnunitygroLVS. Maintainlng thè boat fl08t Inww $lgnM¢ant fixed cc8ts. for exam￿• In resp￿1 of lfjt*rKes. inspection by Iha M8ritirn9 & Coastguard Agency IMCAI, and insurance. This yo8r Th• Rose of Hungerford had lo und8rgo $lgnM¢ant welding Y*k to rrtht the Increasingly slringant requir*monts of the MCA, th15 prov*Jed an opporbJnity to improve Ihe A¢C858ibilityof tho ltswèt. All this was achleved deswte envlronmentsl chalknges. *h&ro Wator flcw r8t8s IR￿ B￿rds) limrted our abillty lo offer trips en somo parts of the can81 at begknning and énd of the season. Bruce Boats Bnjce Boat& provhJ&s wheekholr acto951b￿ holk1ays and day lrfp8 from Grnal Bedsw on four purp08è tr￿111 wide baam tw)ats. Altfth boat ILa(ty Hlldal providè8 lrips and devolopmentloryouth organisalDn8. In 2024 thèr¥ SO hlre$. 68 day trtps 8nd 31 yDuth boat trlp8. Ov•r 1400 dIBab￿d, disathant2g￿ and elderty peopkn. indudirvJ Ih8ir family and friènds, pl￿ rnomberu of ￿uth ￿gan￿atiOnS ￿re abl• to enpy time on th6 Canal that might oth8r*+L8e not hove ￿en p0881blg. ddttbn, 32 hirnrs att$￿ed pre-Nr8 tr8Ining (*JuTr8s and 22 young peopl8 ga￿ed Iheir NGBA Boat HaTr(IlrKJ c•rtifi￿tg 88 Partof their Duke of Edinbur9h Award. Making thls all happen r8qulr8s a hugo voluntsor effort Around 70 volunieers g8ve an estimatsd 7.QOO hours of thgir Ime in 2024 to ensur8 that btsats maintained, cknJr•d, $￿ppe[Sd and ¢r•w9d throughout wl)at W89 o busy. v8ry succesBlul y8ar fw Brw Boats. Pag¢ 2 Kenn•t and n Canal Tru•t for tho 31D 24 0thgrActMths Th8 Tiust ML*s•um at Dwize8 Wharf ¢Ontskn8 a fasGinHUng collection of artefacts. d18FAJys and mod&b Ihat expL8ln h)w the canal cam8 to be buil¢ vthy ft fell into d8rèlidKtin, and the sIL¥y of tts rostorstron. The TruBI al80 m8inioins an ArchNe of Kennet and AV￿ Can81 rejatsd rnaterids. It a150 publisf*8 a magain6- The Bulty- aV￿L￿b￿ in hard copy or dlgNal f￿att0 m&tnberB. Icl Admknhtratlon •nd qOwm￿¢* Htsatth and Safety conllnuad to be revi8¥w¢ ai 011 meeting8 of Ttyst Coundl. In¢luding both a￿dents and noarmlsso5. A n￿n￿rOt Trust polIc￿$ h8ve been r•￿&%￿d or UFd*d during the ￿ar. Ind all ar8 published on the Trusf$ ￿11￿. R16k man8gement relabng lo Trust and EntWPri8• adwlO8s fai uTrdsr three nN8ln ￿dIng8-. H8aM) and Safety ri5ks'. The health and 8afetyof voTunteer3, 8taff &nd IY$itcrf8 18 a key priority of Ihe Trusl Thè Tru$l has esta￿&$￿ a Heamh and Safety Commlttee to keep Ils arrangemants under revlew *)d has a conlr8(# a H8aNh and Safety Ad￿￿or tc carry out 4udils and ad￿￿• on improvemÈnfs. Each boat 0￿rated by The TnJ8t has dÈlailed saf8ty rnan￿￿. and cw iralning is 8n e8senth.al p8rt of rnanagiry risks. Th￿e arrangÈmorFl8 ovgrseon tyth8 Db¢torof Boats. Oetai18d risk 8$S￿ments and mothod 8talomgnt8 ore algo h) pla¢a At Crofton. Fimncial Thsks.. Finan￿￿ ￿kS indude Ios8 of irthrn¥, fallur¢ lo obtain grants for major pmieGb. un8xp6¢1ed costs and Iossos Ihrough fro￿j or failure to achltve valuè for money in prO￿reMent Co&t ri$ks Indudg ¢norgy and lu81 costs and ￿antiCipa￿d r8pair 8rKI le9￿atory cosi$ parb"cularfy for Crofton Beam Engines, Ihe Dewz88 Wharf buildlng and ￿ boats op¢retsd byThg Trust. Availablty of other r8sources.' Our obility fo rec¥uit, traln. retsin rnotivala tyjr volunts8r8 betoffl&s more ¢hall¢nging as f8￿r pecple Bre retiring earty. A5 the wcrfk undgrtaken by volunteers becomes more comlex th￿Ugh le￿2tiOn and also broadgns, a gr0at6r emphas15 on ￿891n9 y￿th new visitor *Jdienc8s, mom forrnal su¢¢e$$ion plan8, and vduntser r8truitment proce8$9¥ will ￿ tt6velopgd to help addr•s9 ths. con￿n90r￿ Flans arts also ￿lYd develowd lo r6du(% ris*s of staff non-availability and Ihe loss of ktyvolunt86rs. Trustees hgvg reYi8w8d rewlarty Ihe lknan(441 rf8k8 faong thè Tru8t. The target miThmum l•vol of r6str¥05 rem8ln8 at £15OK. gwen uncartainty about bolh rovenue and costs. On the basls of tho most recent proi8cIin8 and thè increase in ro$erw88 noted above, Truslè•s are satisfvdd th41 the Trust has 8ufflcienl b41ances to maintain oJrr8nl a¢￿￿￿88 in 2025. New wojèrts am under tr&n￿derat￿tin and trustees *lll enswe that fr88 resorwes in 8xc6&$ of the targel miThimurn Iwel are availabkn, or extemal grnnt fiTrJirg has be¢n t(*nmitted. Pag¢ 3 nat and n Canal Trust he R• rt oftho TThstMs d•d 31 December 2024 STRUCTURE. GOVERNANCE AND MANOEMENT fJo¥•ming Documont The Tru8t mated by mernoranthjm on 6th June 1962. It is govem8d bY￿￿deS of Assoriation that werB lost ￿dated in 2023. This docurnenl is the gov6min9 ttocument of th8 charity a wv8te Gompany lirnited by gu8rants8 withoLrt 8h8re caprt85. Trustees are r2qulrÈd to declgre'P8r8ons of SwJnfficBnt Controf n the Comp8nie8 Hw89 regl$tsr. Fortt)e Trust thero we no p8r80n$ of $IgDIf￿aDl c¢ntrd other than the Truste85 lisl8d. For our Enlar￿8• trading c￿panY. the Trust has b86n IMted as a18ga en￿ty I￿1h $KJnlfir4ntcontrol. Tho dedat8tioM 8r& 4vailable on the Cc*nparwes House W81te. The TN8t Colmcai l%¥hith 1$ the Board of Direclor8 of lh8 wmpanyl wrr•nlty comw888 10 Trustees. It rneEts birfrnnthty to He8Rh and Safety is8UO8. eonsld8r ov•rall Trust strategy and pdicy, in parlculgr in th9 ligm of rgwt8 on thg tngnagernent accounts, r8c8ivad r¢pwts frorn Br8￿h88 and lo t8k& t1gti8ion$ on mamers vthlth arn rèferred to Trust Council such 8$ tnoioreyyenditur8 commilmants. We arè con5taThUy bDking for Trew TN8tees, both inside and wtsld8 the Trust. Fol￿n9 intorwww by Chairnan aThJ at 1ga$t one other TDj8￿. recommèndations are m8de to the 808rd., K approved. new Twst8eS 8re then ctroptsd onto Tru81 Cwncil ahead of ￿t￿dIng fw e18ctw)n at the foll¢xMn9 AGM. New Trustees may b6 nominot¢d by r￿￿rnbel5 for 818don atlh8 AGM. Each year Ihlrd olTru$tO09 stsnd dovm mayoffgrlhem8•l¥eslor rt4k*cbon 8tth8 AGM. In 2024, tftJstg95 miewed the purpos8 and noèd for En19￿158 as a 88parata trAdlng Com￿ry, 8$ r¢quired ty Chanty Comrnis8M guidanc8. Formal was obtsined, 8nd 8 dea5ion was made to Thrge the 8CtlvlJes and 8S8ets pf Enterprise Into TNstwhh offectfrcffl 31st Decembor 2024. Th8 Enterpris¢ Board met bHnontNy to rgv*w rn0￿ d¥pth h88Mh 88f8ty issues and op0M￿on61 matt¢rs relating to the passengar boat8. and the three cafe5. and financial pertom18n(x. A5 a comrngrclal tradlng company, the Ent8rw*g Board focxtssed partltujarly tsn budgets. flnandal p*tsmion¢e, rAk rnBnagem8nt and comm8rraal vk8bll￿. The Board pmvfvaed r¢oultr reports to Trust Cthjncil. Thè Trutst'$ oight branch88 188th & Bristd. Bradford on Avon. 06vlza8, CroNon. Bruc•, Hunprford. N8%*bury R￿dIng) are aach run by a Blar￿ Comrnittee (s fornially a gukornmittee of the Tru8t cou￿1 and usual $818Cted by8 me&llng of létal rnembers, bul subjedks veto by TNSI Council. 8r8nchos undertae the Trust's work in thelr Èr8a often hav8 pradcal control of o boat lor trxiats) or olhor op¢ratluw. BTanch85 submit annual bLhJg81 bids 8nd thon have 8pondlrvJ fr8&l¢m ¥￿h1n the approv8d budgèt subjeGt ts the provisiorts of a Finance M8nual 8pproved by Trust Counal land r•ws•d in 20241. In addits'on, 2 m8mbers of staff provid8 a h88dquartar% fuficlion supwting TNsl888. Dlr8clors and branchas, a paiticular fouls on T￿t admini5tratlon IncJu(fin9 matteTB such 88 in8ur8nc*, m8naglno boat boo￿￿0. undertaking pa￿￿entS and banking, and compliance across a r8rKJè of règ)onsitxliti•s. REFERENCE ANO ADMINISTRATIVE DEfAILS Thg TN$t'$ namè IB Kennet aTrJ Avon Cwal Tnjst ffhol and rt 18 registered ￿1h CcAnpanie5' House with the reference 00726331, and with t￿ Ch8rftyCernmi55ion for England aTrJ Walès tsfw0rKg 209206. Thg Trust's troth'ng Gr￿panY 18 Call￿ The Ken￿t and Avon Canal Tnjst IEnteryJrisel LThit￿ and 15 regi8tsred Kryth Cornpanie8' HryJs8 und6r Ihe rèferenE• 026797￿. After wlndkng up are wnplgted, bt wll be dissol￿d *Jurfng 2025. Th• prifyipAI 8nd registered officè for tre Trust i¥ Oevizes Wharf. Couch Lana. DtTr*iZ•5, SN10 1E8 an¢J for Enlerprf8618 can￿ Mshor C6ntr8, Couch Lang. DovRe8, Wiltshlre, SN10 1EB. Page 4 K•nn•t Ind Avon Canal Trust REFERENCE AND ADMINISTRATIVE DETAILS- CONTINUED Dlrnctord and Trustee• Thg of tho dwiiiable Cc￿PanY lthe charltyl are ft8 Tru8t888 for tho purpos8 of ch8rfty law. The Tru8teg8 8eThlng durinG the year and 8inceth8 5wreThl w8re a& fol85 and then appty con8iStwlly. ob$8rva tho melhods and principles in th8 Chariti85 SORP 2019 IFRS 1021., mak8lLhJgornents and 6stimgtes Ih8t are rè8$¢n¥￿o aThJ prudent. sta18 thelhar appllc4bl8 UK A¢countSrwJ Stsnd8rd$ ha￿ been follomd, subi8d Iv ony materfal dèpathres disclosad and 8xp18Ined in the fln8n¢io1 statemènts., ond preparn the ffinancial statem8rts on th• going concsm basi4 unkn8 tt 1$ Inappropriats to ye6uMe that the ePwritsb componyvAII conl(nug In operalon. Tha Twstees 8re r88porr6ibl8 for keei¥ng adequala ac(x)unllng record& di8cbs¥ ¥wth rOaBe￿abI@ a¢¢uracy st any time the fin8ntial p0s￿on of th ¢haritabf8 wmpBny and whith &nable Ihem to ensure that th8 financial statsments comply the Comp8nies Act 2006. They are B180 respon$iblg for safeguarding Ihe as$ots of Ihe charitable ¢ompany and henct lor la￿"n9 r•oWna￿e stsp& for Ihe pr8ventlon and oflrnud and olher ityegulqrib88. The Tru8tee8 8r• rnspor￿1bl6 for Ih charitablo ￿mpanY￿ web5fte. L891 statements may d. r frorn1•3islatioi maintenan¢9 and Integrfty ￿ thè earpor8t8 and financial information inc4ud8d on th¢ 'on in the United Kingdom 9oveminu tho preparatogn and di58emin8tion of finanual olh8rjutsdlcti￿)& @h Iho GSPU Tr￿te8 &pha D8t•'. Page 6 K•nnet and Avon Canal Trust T 8nd•nt ExarnlTh8rt8 totho Ind•p•ndont •x•mlnees r•portto th• INst•g• of K•nn•t and Avon can￿ Tru81 ITh¢l nho Group'l I rewt to Ihe ch)rfty InJst888 on my ox8mlnaoL￿ ol the COrts￿K18t9d of th8 Group for the ended 31 Dece[n￿r 2024. R••pon•ibllttlÈs and b8¥h of r•p¢rt *18 the tnJ8ts0$ of the Tw51 land alg) its dlr6ctors for tho purposas lawl you 8re r8spon3ible for the pr8par81it)n of a¢Gounts kn accx)rdanc8 ￿1h Iho wuir8m8nl$ Df the ComparM&sAcl 2008 ftho 2(Th Acri. Having salisfi8d mysow that the accouffjs of the Grujp are not r8qulred to be ￿diterf under Part 16 of Iho 2008 Act and ¢l%Jibl8 for independent exaM￿al￿)n. I report in respect of my examination ol your charitys accounts as ¢arybd oul under s8cb.on 145 of Ih6 Charfdes Ad 2011 Ilh8 2011 Atri. In catyng out my gx8minabrffl I have tho Dk6clon6 giv8n by the Chanty Comrni881on undorsec*"on 145($1 (bl of Ihe 2011 Act rndÈpÈnd•nt Examlngrf8 Stat•m•nt Sln¢* lh8 tomp4nls gross In¢ome exeeed¢d £250,000 èxaminer mu81 bè a member of 3 W listed In $8¢b'on 14S of the 2011 Act. I can wnfirrn that l 8m quaIrf￿d to undertJk• th8 examination becauso l am a mernb8rof thè ACCA. I have COM￿tted my examina1*￿. I conflrm that no mattgr8 h8v• ccffi• to my attention In ¢onnectM *ilh the examinauon gi￿ng ma cause to bo119￿. a¢¢ountirYJ racordswere mt kèpt in respect of Trust as r8qulrtyd ty 8acUon 386 ofih8 2W6 A¢t.' or tho a(wunts not ottord ￿1h those rwds", or th9 o¢¢ounts éo not tom￿Y the accounb.ng requinments of Ser￿0n 396 of Ihè 201)6 Act ot￿r than any uirement that thg account6 gfvo 8 IN9 an*J faw Is not a mattèr ￿￿*￿er8d as part ol an independent th• accounts havo not been rryared In arrKKdance I￿1h method$ and princples of tho Stat8rf*nt of Recommend8d Practre for ar¢￿ting 8nd roportirvJ by charft￿ {ap￿1¢#ble to tharit￿$ pr•paring thdr accounts in a¢¢ordanco with tt)e Flnancial R￿￿￿ting Starth￿ 8pplicuble In th• UK #nd Republi¢ of Irelgnd IFRS 10211. I havo no con¢xms and have across no 0th0r rnatters In Connxlon wl¢h Iho èxaminabon to whith attenllon sha￿d drawn In this r8POrt In ordor lo enable 8 proper und8rstsnding of tha accounts to be ￿¥¢hed. Hawki￿ FCCA UHY R098 Brotsk• Ch4rt8rad Accthffttsrts 31a Chamham Str•DI Hungerford Bèrkshire RG17 OEJ PAge 7 K•nn•t and Avon Canal Trust Conjolldatsd Statsment ol Flnan¢Fal PKtlvltl Iln¢ory)Dr•Ung an Incom• and expond1turnA￿￿￿t) fr+fI￿ Year Endod 31 D•comber 2024 Unresiitled lund$ Rwricted 2024 Total funds lund$ 2023 Total lunds Note8 COMEAND ENDOYIMENTS FROM o￿a￿On$ and tO9a¢bs 204,412 204.412 105,800 Othertradlng actbvttlas com￿r¢Ial trading opgr*kin Investrn8Tht Incom8 Other Income 55.702 284,919 8,902 10.827 20.606 76,308 284,919 8,902 10,827 65,417 261.384 6,839 6,255 Totsl 564,762 20.606 685,368 445,695 EXPENDITURE Raising funds 7,418 7.418 5,581 Charllablè a¢tl¥rtlos Charitablo activiti•s Commoraal trading operatlon$ 166,388 166,414 23.558 189,946 166,414 244.616 258.073 Total 340,219 23.s58 363,778 506.270 NET INCOME IEXPENDITUREI 224,543 12,9531 221,591 ieL),575} Tr￿sfer b•lw••n funds 13381 338 N•t M0￿1n•nt in lunds 224.205 12,6151 221,591 160.575 RECONCLIATION OF FUNDS Totsl funds brought fobw•rd 1,043.111 20.078 1.063.1B9 1.123,764 TOTAL FUNDS CARRIED FORWARD 1,267,316 17.464 1284,780 1,063,189 Pase 8 K•nMt and Avon C•nal Trust he Consolldated Balanee Sh••t 31 D¢￿Mb•r2o24 Unrèslrietèd RestrKted 2024 nd$ 2023 Total fvnds fund8 FIXED ASSETS Tangiblg as8ets 10 686.850 686,850 705.271 CURRENT ASSETS Stock$ Dobtc Cash at bank and in han 13 14 4.800 23.461 590.645 4,759 13,964 359.420 23,461 573,181 1Y,464 601,442 17,464 6188C6 378.143 CREDITORS Amounts falling du• wilhln ong year 15 120.9751 120,9751 120.225 NET CURREMT *S8ET8 580.466 17,464 597,931 357.918 TOTAL ASSEfs LESS CURRENT LIABILMES 1267.316 17A64 1,284.780 1,063,189 PROVISIONS FOR LIABILITIES NET A88ET8 1267,316 17,464 1.284,780 1.063.189 FUNDS Unre$trf¢tod lund8 Charitable $ubsidiaryfunds R88trKt8d fijnds 16 1.287.316 666.912 376,199 20,078 17,464 TOTAL FUNDS 1,284,780 1.063.189 Past 9 Kènn•t and Avon Canal Tnmt Con$olldoted Balance Sheet 31 Deumber 2024 The Charilable group k% entrfed to exemption from audit under Se¢l*)n 477 01 thè CornpaThiès Ad 2006 for the year ended 31 DecèrT*)ar 2024. Th• n￿MberS hav• not Mqulrod th• eompany to oblain an audit of ts financkql stat8rn8nt8 for th8 year ended 31 December 2023 In accordanc& wlth Sethcn 476 of Ihe Companies Aet 2006, Thè trust•è$ aCknOw￿dge th8Tr r•spo￿lb11￿'èS lor. lal ensuring that the charitable group keeps ac¢ounting rec￿$ that mmply with Sections 386 and 387 01 the Comp8n18s Aci 20C6 and Ibl woparing finanual $tat•m¥nts whKh gfve a true and fairview of the state of aff8irs of the charitable group as at thè end of each finandal year and of hs 8urplu5 or deficlt foT esch financial year in accordancg with thg requSrements ol s￿￿On8 394 and 395 and whith 0lherwi58 cornplywith th• r8quir¥m&nts of Ihe Companles Act 2006 ￿L9ting to financial statements. so far 83 8W4cabkg to the charitable company. These fin8nryal statement have baen prepared in accordance wilh Ihe prDvisions •pplieable to tharital￿e conwni 8ubl8ct to 6mal co s reglm8. Th8fi sta by the Board of Trustees and authorlsed for issue ￿ ... i9-C21 wère GSP Trusts Pa80 10 Kennet and Avon Cjnal Trust Charity Balan¢• 8h•Èt 31 Dwmbw2024 Unr8Stricted Restricted 2024 Tot 2023 Told Note8 fund¥ funds funds funds FIXED ASSETS Tangible as58ts Investments 10 686.497 1,000 354 686,851 1,000 356.191 1.0¢)0 687.497 354 687,861 3S7.191 CURRENT ASSETS Stod(s D•bl¢ys Cash at bank and In h￿d 13 14 4.800 256,836 341.583 4.800 256,836 358,694 4,759 105,319 234.331 17,111 603219 17.111 620.330 CREDITORS Amounti fdllng dut wtthln crt yaAr 15 123.4001 123,4001 114,6101 NET CURREiff ASS￿8 579.819 17.111 596,930 329.799 TOT>L ASSETS LESS CURRENT LWBILITIES 1,267,316 17.465 1,284,781 686.990 FUND5 Unre$tri¢ted lunds Restricted fijnds TOTAL FUNDS 16 1,267,316 17,465 1,284,781 6e6.912 20.078 Pase JI Kenrmtrt and Avon Canal Tnwt Ch•rfty ￿11￿¢• Sh••t 31 Dt¢•mb•r2024 Th8 charttable fJ)mpany is entitkd io exemption from ￿dit under SertKsn 477 ofthe Companies Ad 2008 forthe year ended 31 DeC￿Mber2024. Th8 members havo rK)I requir8d th• (x)mpany lo obtain an audit of ts financlal $tat•m•nts the y•ar ond•d 3100¢ombw 2024 in accordonee wtth Sectlon 4T6 ofthe CompanÉs Ad 20C6. The tntstee$ a¢kr¥￿ed9? th•ir r•Sponsi￿lIt￿sft)r lal ènsuri￿J that the chathbkg t7￿￿nY kegps accountlng rgcord$ Ihat Wnply￿lh SgCth?n¥ 386 and 387 ofthg Companles Act 21x16 and Ibl preparin9 finanual statements give a trn￿ and fair wew ol Ihe stste of alPdWS of the charitable corrpany as at tho end ol each fing￿181 year and of its surplus or defiot foreach frnanLaal ￿ar in accordance wth th• r￿UirementS of Sèctions 394 8nd 395 and which 01he￿Ise coryily with the r&]uiremenl8 of the Comp8nie8 Act 2ty)6 rebbng to thwtcIBI sts¢ements, Bo far a8 8pplk8ble to Ihe chewttgWe company. Th8s8 finandal statement hav6 been pwared In aC￿r￿a￿e wth the provlsk*n6 applic￿18 to thartt8bb o)mpanl86 to the Small Compa rggimo. The ckgl gt aman sbeh rovèd by Ihè Board of Truatèè8 and aulhorisèd for on ....... ........................ Tru Pthgè 12 K•nnot and Avon Canal Trust Consolldated Cash Flow Stst•m•nt forthe Year Ended 31 De¢ember2024 2024 2023 Notos C•sh fl¢)w$ from operatlng actMtle• Cash g8nerai8d from operalons 243,480 125,102} Not cash provklod by opgrating actM¥gs 243.480 125.1021 Cash flows fvom Inve$llnq a¢tlvltles Purchase of tsngrfole fued assets Sale of IFA8d assets Interest TecoNed 121.158} 153.2621 8.9W 8,839 N81 cash provklgd by InveslrwJ actmlias 112,2561 146.4231 Chang• In c*8h and ¢•$h equlv•lents In the r•portlng porfod C•sh and cash ¢qulv•l•nts at th• beglnnlng of the weporting p•riod 231,224 (71,52S 359,420 430.945 Cuh and ¢a#h oqulval•nts al th• •nd ofth• reportlng perlod s￿,644 359,420 PaBe 13 K•nnet and A¥oth Canal Trust Notso to th• Consolklated Ca8h Fltsw Stat•ment lor th• Yéar End•d 31 DeceM￿r 2024 1. RECONcIL￿TION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTivrnES 2024 2023 Ntrt income forth• r•portkng yrtod la$ p•r thg Statèm•nt of Financial ktSvhkn) 221,591 180.5Y5 A￿lUStMentS for. Doprnaation thar9OS Loss on dlsFM)sal of ftxsd a8$0ts FLxed assets revalutitions Intsrest r8cèlved (I￿reaSOYde￿reaSe in debtors Decreasellincreas•l in stocks In¢rèasellDecreasel in prOv￿lOn$ lor liabiltbgs IncrsasollDecreasel in credttors 43.023 29.632 (33,0771 18,902} 19,4%} 141) 45,202 16,8381 13,2241 8.927 750 16,5931 Not cash prDvlded by cp9ralons 243.480 125,1011 2. AJ4ALYSIS OF CHANGES IN NEf FUNDS A11.1.24 Ca8h flow At 31.12.24 Nat cash Cash 8t bank and In hand 359,420 231,224 590,644 Page 14 Kennet ènd Avon Canal Trust 14gt•s to tho Flnindal Ststements lor th• Y•ar End•d 31 Dec•ml>er 2024 ACCOUNnNG POLICIES Charlty Inbrniatlon Konn81 and Avon Canal Trusl (The) Is a priv8te *mited eonpany limited by guarante8 and Incorporated In England and Wales. The regisièr•d office is Dev￿e8 Wharf. Couch Lane, Devlz•$. SN10 1 EB. Kennèt and Avon Canal Trust (fhel and ils group meet th8 d•fIn￿On of a publk ben•fit •nlty under seclon 34 of FRS 102. A85et5 and Il&Nllties are initially reeegnlsèd at historitxl c05t or Ir8ns8cbon valui, unl8SS Othe￿Se stated in the relovant accwntkng polloy. Thè principal obleetlves ofthe Charfty #rE d8ta18d in the Trusl8e5 rewl. 8451• of pr•wrlng the fln*nclo1 $tat•ments Th8 finandal stalonwnts of Ihg CharItab￿ eompany, ￿lch Is a publle bènefrt enuty under FRS 102, have b•en prepared in aCcOrdar￿ wlth Ihe Charides SORP IFRS 1021 Accountiftg and Reporbng by Charifjes= Statemeni of RecomMeThj￿ Pracoce appl￿ble to charibes preparSng th8ir accounts In a¢¢oftlance with the Financial Repothg Standard applicable In the UK and Republic of Ireland IFRS 1021 leffectNe 1 Janu&ry 20191,, FI￿ar￿181 Reportlng St8nd8rd 102'Th0 Fin￿1￿1 Reportlry Standard applicablo In tho UK 8nd Republlc of Irgland, and thè Cornpank89 Ad 20C6. Tha fln8ncial $tatgments are presonted In sterling whith M Ihe fun¢tional Cu￿encY of th• tharity. MI￿ary arrnunts in Ihese finanaal ststemenls aro rounded lo tho nearest £. 8as18 d Consolldation Th8 accounts of tha tradiThJ subs1d￿ry. The Kennet & Avon Canal Trvsl IEnlerwisèl Ltd, are ¢oTr$olldot•d the a¢counts of K8nnel and Avon Canal TNst (fhel In aCcOrdar￿ with current ￿gis￿?￿on. Inter group incom8 and exponditure is eliminated and all incom& and expendlture relates to external transactions onty. A separatg Statèment of Financlal A￿titi8, or income and éxpenditure a¢couTht, lor the charity itself i5 not pres8nted cau88 the charity has tak8n advantag• of thg gxgmptrons 8fforded by 88¢tion 408 of thè CompaTr￿ Act 2006 and sgcbon 24 Of SORP 2019. In¢om• All ￿￿mI¥¥j resour￿ are lTrcludod the statement of ffinancial 8cliV￿e$ when Ihe charity 1$ entitl•& to the inGome and th8 amount ¢an be quanlffed with rèa50nabl? accuracy. The foll(h¥lno spec￿¢ polic*s are appliad to parbujlar catsgorfjes of in¢on*'. Voluntary income is receiv•d by wray of 9rants, don8tron$ and g1ft9 and is induded In full In Ihe statemént of fln8rti818ctiviligs when rect￿b￿. Donat￿ $arvice8 and facilities are Included at the valu8 to the ¢hadtybvh•re this can be quantifi8d. The valug of SeN￿oS Prov￿ad by volunt8ers has nol bwi In¢lud8d. Grants are re¢ognlsed in lull in the stat8rn8nt of flnanclal actiwbes in the ￿r to whKh they relate. Subscriptions a￿ Indud8d n the staternènl offinan¢ol acUMti&$ when r¢¢oNed. Legadss included when the eharity is advised by the p8rsonal representative of an estste that paymont will be made or property tr8nstsrred and the amount Involvèd can be quantifEd. Pagè 13 K•nnet and Avon al Trn8t Not•$ to thè Flnan¢lal Statements forth• Y•ar Ended 31 De¢omb¢r 2024 ACCOUNnNG POLICES Iconllnutd) Exp•ndltur• Experrflilur8 ￿ recognised on an accrual basls as a Ilabillty is Incurred. Expendknrè indudes any VAT which Can￿0t be fully recov•rpd. and k% r•ported as part of the expenditure to which r( relates. FundralaNJ and publlcity Costs comprise the costs aCttjal￿ inoJrr8d In Prod￿Sn9 malerils for pronxtrtK)nal purpos•8 and of raislng fund8 Ihrough various fund rni$ng 8Vonl$. Support ¢08ts In¢lud• govemance costs whic* a costs assodaled wlth th• govemanc& arrangemènts of the charity and rdate to Ihe general TrInn￿o of ¢h8 arfty as opposad to those costs a5socWgd wlth fuDdraisiThJ or charit8ble activty. Thtrse (xjsts hav• been allocated bth88n cost of raising funds and exp8ndilur• ￿ char#abl• adivjtles. Tangible r￿ed a8s•ts Deprea8tion 15 provlded 81 the folk)w￿g annual rates in ord8r to writ8 off 88¥gt over rt9 88thmated uselul r(fa. F￿￿>1￿ land Freehold bullding$ Long leasehold & boats Plant and m8chlnery Fixlure8 an¢J fitllngs Cornpulgr eqtsiprnent IJ ￿t depr•ciated 2% on straght line tsa￿s 5% on a strdvJht Iln6 t￿51& 25% on straight Ilne basis 15% on r￿UCIng balance 20% on a straight lkn• basi Thfy boats We￿ rtvalued in tho year by the Dlr•¢tc*a prior to teing donated by tho sub8tdlary lo thg parent cotyny. Tro mvakjed amounts were bssed on Comparal￿e boats for $alg. T•xutli Thè charity i5 exempt Imrn cO￿ra￿0n tax on charftrd)lè actNlbes. T•miln•tion bon¢flt* Tho charity retognk$88 8 for t8miination b8neffts at the polnt there tha charity 1$ committed to maklng th8 payiii8nts in rebjm fw ?mpWe redw￿•￿. Flnan¢i•l inBtrum•nts The ¢harity has only finar￿l91 A$se¢s and finan¢hl ￿a￿lit￿8$ of a knd that qudffy as basK financlal Instnjments, as defined by FRS102. The fiTranclal assets and Ilabilile8 aThJ thek w$ur8ment basN% ar8 as follows.. Financkal assets- trade and other debtors aTe baslc fina￿18{ knittjments and ar• d•bt instwmonts rrffjasured at amort150d ￿$t. Prgpaym•nts are notffinanual instruments. Cash at bank- Ls classifiod as a ba* finandal ￿81￿Mentand m•a5ured at fairvalue. Flnartial Ilabllftlo$- trade creditors, aecru8L8 and olher crgditO15 8re Ilnanci81 instrumènts and are m888ur•d at amortised t￿$t. TaxaloTr and S￿[•1 8e¢urity are not induded in Ihe flnarKial nstrumnt dis¢10gJrè dafinition. Deferred ineorne is not deemed lo be 8 financial liabllity. as the ¢ash s8themont has alreaty taken place Ihgr8 is an ￿loation to dellv8r servK8s ralhor than cash oranother f5n8ncial instrument. hgt 16 Kennet and Avon Canal Tnmt The Not•a to the Fljwidal 8t*ten*nts lorth• Year Ended 31 Do¢•mb•r 2024 ACCOUNMNG POLICIES {¢ontlnu¢dl Fund a￿Du￿11n5 Unrestrthd fvnds ba ￿ed in accordance wfth the Cha￿ta￿e O￿l*ve8 at the dL$￿￿Oft oftha tru8te?¥. Reslricted fun¢J5 can only be used for parfi¢ular reslrfctgd puws ￿h1n Ihè obJ•cts of the charlty. Resfficbon5 arfs8 when 8pe¢ified byth8 donor orwhon funds are ralsed forpartiTrJLgr restrktgd purposes. Furthereyplanation ofthe nalure and pury)0So of•ach fund Is Induded In Iho nots¥ to the flnandd ststemènts. Hir• purcha$• •nd1••slng commltrn•nts Rentals pald undw opernJng leases 8r8 d)arggd to thg Ststement of Finan¢MI Adiwties on a straight line bASiS over the per*)d of the ￿8$e. Pen$ions colts and oth•r post￿￿TeM#1rt b•n•llts Tho charitabl8 company oparat8s a dgflned contrfjbutirm penslon Sch￿*. ConlribulK*Th$ pardble to the ¢ht*(tablt companys pension scheff* ar• charged to the Statèmont of FinancHI A￿￿tIeS In thè period to whi¢h tsy rglate. Golng Cone•rn There ar& no rnatewlal uncgrtalnlias fy18tsd to 8vents or eonditK>n8 that may eASt Signif￿ant doubt upon the eharttls *blity to cl￿tInUe as a go￿￿ ¢on¢em. h8t17 K•nn•t and Avon C•nal Trust Notes toth• Slkl•mert• trth• Y•ar En¢f•d 31 De¢em￿rI024 2 DONATIONS AND LEGACIES Group 4nd charjty 2024 2023 8nt8 and dwlKins L8gacle$ GMI Aid Redalm$ Subscrfpdo 38.462 139.462 8,986 17.502 71,026 6,511 9.862 18.401 105 800 3 OTHER TRADING ACTP•ryTES Group and chwty 2024 2023 Admksons Crofton car pw Fundraising Rènt r&av8d 59,146 1,683 27.262 253 2.754 16,479 4 INVESTMENT INCOME Gmup and ¢hailty 2024 2023 Bank Int8r8st reL*iV814e 6.838 S NET INCOMEIIEXPENDrruREI Net Incomolleynijlturel 6$ $tOted 8fter Charg4n￿li¥•￿1tlro)'. 2024 2023 IndeFend•nt oxamlngfs remunsration lexdudln9 VAT) Eyamlndtlon 8ThJ prep8r8U¢n ofthe woup accounts 10,4e6 4.930 Preparatitm of a¢wunts for Iho tr•Jr¥J wbs*Jkqry Other Setvi Dewodalon- trwnpd assets Hlre of pLqnt and machlnèry 4.948 2,430 43,023 45,202 Pw18 K•nn•t and Avon Canal Trust Nol•¥ to1￿ Fln1r￿￿ Sl*t•Muth Icorfnu•d> f¢tth• Y•4rEnd8d 31 Drt¢nthr2D24 6 TRUSTEES. REMUNERATION AND BENEFITS The￿ war8 ￿ trustees. remvneration or other bon815ts for th8 yO8r ¥NJed 31 December 2024 for fv year ended 31 Decem￿r 2023. Tru$too6' •xp•nM$ There were no trL￿tee6, •wn8e8 p8kl tsthe yearended 31 DetsM￿r 2024120rJ.' no￿1. 7 STAFF COSTS 2￿24 20ZJ Wages and salar￿$ Pen$lon .935 619 50,929 Tho avèrage mc4)thly nurthr of•mF4oyee8 durfng y98r was as folknw8'. 20ZJ nF4oye86 reeeNtid emoljments in exc888 of £60,00012023.. Non•1 No emWoy••s receNed tem)ination t*nellts during the s*¥12023.. NonBI PAse 19 nnet and Avon C l Tru•t Not•• to th• FIna￿lI1 stsieiiionts I￿ntIn￿dI fwlh• Y•arEndod 31 DoRrnb•r 2024 COMPARATIVES FOR THE STATEMENT OF CONSOLIDATED FINMICIAL ACTMnES Uw88trtcted lund8 Resirictg(1 fund8 Total fuTrlg 2023 INCOME & ENDOWMENTS FROM DcfiaUon$ and Lggaths 105.800 1(Ll.800 Oth&r tra¢lng actlvbtles Commer¢4al tradlThJ ¢yratksTr$ Inveslment Incom& Other income 44,222 261,384 6.839 21,195 65.417 261.384 8.839 6.255 T*)tsl 424.5C 21.195 445.695 LXPENDITURE ON Ralsing fund& 5.581 5.581 Chwrla￿6 ¥tsvrfi8S ¢¢mrnerckg1 owral*)ns 218.287 256.073 26.329 244,616 256,073 Tot•1 479.941 26,329 St￿.270 NET INCOMEIIEXPENDITURÈI 155,4411 15.1341 1fj0,575} Transf•r b8tw•*n fund8 13.705) 3,705 14•t moYgm•nt In funds 159.1461 11.4291 I￿,575} RECONCILIATION OF FUNDS Totsl fvnd# broughtftsrward 1,102,257 21.507 1.123,704 TOTAL FUNDS CARRIED FORWARD 1043.111 20.078 1,Q63,189 TAXATION l of the charity$ incorne 18 appllgd for chart￿￿e purptsse8 therefore the tharlty k Èxempt from eow)ration tax. The charity'$ trading 8ubshllary had a corporation tax liabS1ity ol£nil for the year endeit 31st D￿￿￿ber 202412023". £1901. K•nnet and Avon Camr Tru8t 14ot•i tothp FIn•￿Ill St*t•meThts Iconynygd forth• Y•ar Ethded 31 Dec¢nknr2D24 10 TWIGIBLE FIXED M8ET8 Group Freehdt1 Prope Long leasehc Plant and m&linery Fmums 8nd Fitbngs COST At 1 January W24 Addthffis Transfers Rev81ualon Dlsw)sa15 309,2Ck4 167.688 184,178 $9,827 133.1401 109.271 At 31 Do¢8mber 2024 309,204 167,688 41.767 65,133 DEPRECIATION At 1 J8nuary 2024 DlsposaLs Transfer Charge for thè year 71,747 58,167 140,e67 179,6391 119,6421 150 ,995 4.244 1.853 At 31 t)ec%rnbor 2024 75,991 41,$36 NET BOOK VALUE At 31 December 2￿24 233.213 102,199 231 At 31 D8C8mbor 2tr23 237,457 109,521 43,511 Boats Totsl COST At 1 JAnuary 2024 Additi¢)ns Tral￿fer6 Revaluatkx) CA$po$81$ 507.ofKI 15.852 33,140 33.077 1227,897 21,158 33,077 109,271 At 31 Decembw 2024 589,069 1,172,861 DEPRECIATION At 1 January 2024 DL%posals Transfer Chary8 for the ye 201.OSO 522,826 179,839} 19,fj42 29,454 43,023 At 31 ￿mber 2CY24 250.146 486,010 NET BOOKVALUE At 31 Dec*rnb8r 2024 338.923 At 31 0wmb•r 2023 305.950 705 271 Pw2l K*nnet and Avon C•Th￿ Trt￿t NotsJ to lh• FIMrKl•l %ol•mnts l¢onionu•dl forth• Y•ar Ehded 31 D8¢omb•r 21 19 TANGIBLE FIXED ASSETS {C•ntknu•d) Chadty Fr¢ghokl Long leasehold P￿nt and Fixknre5 Frttln C08T At 1 Jamary 2024 Addition$ 309.204 167,688 41.767 59,827 5,306 At 31 Der*mber 2024 309,204 187.688 41,767 65.133 DEPRECIATION At 1 January 2024 char￿ y6ar 71,747 4,244 58.167 7,322 41,386 150 50.995 At 31 D8Lxmber 2024 75,991 41.536 NET BOOKVALUE At 31 Oeeemb&r 2024 233,213 231 12,285 At 31 Decembar 2023 237 457 381 8.832 Totds COST At 1 January 2024 AthJtlon6 578.486 338.922 At 31 Decerthr 2024 338,922 922.714 DEPRECSATION At 1 January 2024 Charge f￿year 222295 13,569 At 31 D8cember 2024 235.864 NET BOOK VAUIE At 31 Dètsmbor 2024 338,922 688,850 At 31 De(*mb8r 2023 356 191 Kenrr•t and Avon Canal Tnmt Not•B ts the FIMn¢L*l Stalom•nt• l¢orfnu•dl forth? Ymr End•d 31 O•¢emb8r2Q24 11 FIXED ASSEf MIESTMElffS C￿1 Unlisted Inv•stment MARKET VALUE At I January 2023 8nd 31 D￿ber 2W24 1.0 BOOK VALUE At 31 De￿mbar 2024 At 31 D8c*mbgr 2023 Thwe were no investment a88ets trJtsKIE Ulc Invesbnents rePre$￿t 100% of tho Is8Lted share caphal In The Kenmt & A¥￿ Canal Trnst lEnte￿se} Umlted. 12 SUBSIDIARY COMPANY The ch81ity h88 8 wh￿ty owned tradlng sub8hllary, Th8 KeN*t & A¥t)n Car￿1 Trust IEnigrprf$¢l Llmlted. company nuftknr 02679756. whiGh Is ir￿OrpOrated In the United Klngdorn. The prinop818¢tr¥ty of The Kennet & Avon Canal lEnt8￿riSe) miled was to 0￿rat8 boat trlps and sa18s of glfts SOUV￿lT8. It h88 now c¢a$od tradltvj as wrb)o 8h8et events Mtè. Asurnmaryofth• fina￿￿1 perforMar￿ ot the $ubsKllary Is shown k41w'. 2024 TurTrJver 289.982 248,257 TotrA e)q)8ndKure 1314.181} 1280,5361 Other Inccm? 26,481 13,127 ProfiVlkx61 2282 The as88ts 8rh1 IlaNllJes of The Kenr*t & Avon Can81 TNst IEnterpris•1 Llmlted were.. 2024 2023 FIx8d and current a$sels Llsb*litiè8 Ènd pro¥lslon6 239,935 238,935 475,927 98.728 Totsl net a55ets 377 199 PmfiVlkJ581 1.000 377 199 EyTrJilure indud88 Intwesl p$y￿e to the parent ch8rity of £4,03812023.. £4.4631. Thls transactlon has been ellmlnated consofvdal(￿ in tho wp Stat8rnenl of Act￿￿0$. P4y23 K•nn•t •nd Avon Canal Trust NoL*• lo thg Fln•fi¢knl St•t•m•Trts loonllnl fwthè Y•aiEndvd 31 Dec•rnb•r Z024 13 STOCKS Group Charky 2024 2023 2024 2023 4,8C 4,759 4.800 4.759 14 DEBTORS: AMOUNTS FALUNG DUE W￿H1N ONEYEAR GrtYJP c￿rity 2024 2023 2024 2023 Trade d8btors Other debtors Amujnts trwned by gr￿JP uTrJ8rtakJThJ$ Prepayments and accrued tnccrfne 274 0,416 651 1.727 232.171 18.249 93,112 11,556 18,249 11.556 13,964 105319 Indud8d wlthin am(xJnts owed by group undartaklng 1$ an am￿nI ol £NI12023: £93,112) thal16 falllng due aft&T mor8 th one y88r. 15 CREDITORS: AMOUNTS FALUNG DUE VIIThIN ONE YEAR Group Ch•rfty 2024 2023 2024 2023 Trad8 ¢reditors Soclal security and othertax88 crual$ and deferred Incom8 7,814 10 13.151 8,265 10.239 10 13.151 5,476 289 8,845 20 225 Pw24 K•nn•t ind Avon Canal Tw$¢ Plot•B to the Fir￿111 St•t8m8nts l¢onllnuDdl forthe Y••t Endqd 31 D•c•n*•r 2024 18 MOVEMENT IN FUNDS Transf8 MoveThnt in fvtnds At1.1.24 fund$ 31.12.24 VM•$trl¢t•d fund• General fuTrJ Trading subsidiary 666,912 376.199 106,Q38 118,505 1338) 772.612 494,704 1,043,111 224,543 13381 1.267,316 R•strf¢t•d fvnd5 Ptlbrwh.. Electric prowlsion converslon Prgsld8nV& fund Am.. Crtsfton wducalonal developm8nt Gatheld West¢n: Crofton Smithy r8fwblshrrtsnt Wlllis.. Croften PTDjBCtic￿ equipment 20.C 113.1621 6.838 78 16021 10,282 692 10,282 821 354 267 ,951 338 17,464 TOTAL FUNDS 1.063 189 221592 Nèt movgment in fu￿8. Induded in the above are a8 fdlows.. In¢oming Resources expended Moyement In ftu¥J8 Ubw•*tri¢tod fvnd8 General fund Trading subsidiary 279.843 284,919 1173,8061 166,414 1￿,038 118,S95 564.7S2 1340.219) 224.543 R•strl¢todfundB PllbDrough.. Electric prowlsicn ¢c￿er$00n Pre$ldents fuThJ m.. CTofton educational devdopment Garfeld West¢n'. Crofton Smthy refurblshment Wlllls.. Crofton projection equipmnt 113.162) 113.1621 4,985 15.0 15.6771 14,718) I￿2) 10.282 021 621 20,6 23,557 2,951 TOT￿ FUNDS 585.386 363,777 221,591 K•nr*t and Avon Canal Trust Not•9 to lh• Flnandal 5tatsm•nts l¢•ntlr•J•d) frjrtho Yw Ended 31 D•e•hkn 2024 16 MOVEIAENT IN FUNDS IcontlDu•d PurpoBe8 of r•itrlct•d funth Croftcfi Branch was wartsd an AIM grant In 2023 a6 part ofour'N￿ StLYi08 Nthv Audlonc48' prOgrAM￿. Al expenditure was mwjts In 2024. Adona1￿ of £20k from Sandra P11tK￿￿h 1$ bthng usod to onab]t thè eonvorshjn of Bruc• boai, 018na. to hybrfd electrlc (wthn. £13kwas spent in 2024 wrth the rest in 202S. 7he Presthnt's Fund was set up by 8 don¥tion from Twst Pre8bJent to fijnd ¥olunteertravd used at Ihe disL¥etsw of Ih8 Trust Chalrm8n. A 9rwt of £15k wa5 provided by Garfield W88ton to $upwt ￿nVerS1On ofthe ne¥Ay pur¢h69ed Smlthy at cron￿ tr use a8 a c*fÈ 8nd edurabonal arEa. £Sk was 5penl in 2024. A gr8ntof £500 w8$ provAled by Jon Wlli5 and other5 lor purcha58 of a proi8ctor8nd stand. Thls has baen done. Compor•llv•i for moY*nont in fvnd# Tr8n$lers Mov8ment In funds At1.1.23 fund$ 31.1123 Unrgstrlcted funds General lund Tradin9 5ubsidiBry 726,906 275,351 IS6,2891 13,7051 666.912 376.199 1.102,257 {SS,4411 13,705} 1,043.111 R•stri¢t•d fund8 AIMIPilgrim Tr￿st grants Pllborough.. Ekdrfc propulslon cDnv8rsion Tesco Groundwork- ioumoy cam Prèsldent5 fund Crokn 2030 1485 20,000 20.0 11230 78 78 13,419 3.419 21.507 5,134 3.705 20,078 TOTAL FUNDS Kthnèt and Avon Canal Tryst Not# to the FIn•nCl￿ Stat•rn•nts leottiinuthd) forth8 Y•ar End￿ 31 D•cqfflbgr2024 16 MOVEMENT IN FUNDS {￿nt￿u•d) Comp•rativ•8 lor m￿￿ent In lunds l¢ontinuedl Compatatlve not MOV￿401 kn funds. In t￿ t*Gve ore asfdkm." Incoming r•sources Resour¢es ¢ynded Movement In f￿dI Unr•strt¢t•d fvndB General lund Tradlng gub¥ldi8ry consolidati￿ ￿jUstmentS 167,579 261,384 4,463 1223,8fj81 1260.5361 4.463 156,2891 424.5W) 1479,9411 155,4411 AIMIPIWM Tntst grants rosco GrOund￿￿1k-AOurr￿ ram 1.122 11,6071 11,9241 22,798 148SI 11,2301 3.419 19.379 21,195 26,329 5.134 TOTAL FUNDS 445.695 60,575 17 CHARGES Th8 Tru$¢eg$ olthe Natbrn91 Lettery HérftAg8 FuThJ hold a Wl ¢harge over Ihe freeh)Id propety known 88 The Oll Purrwng Statk*n. Cmfton. MarltWU9h, Wiltshire, SN8 3DW. 18 RELATED PARTI DISCLOSURE$ The charity h8s tsken advantage of •x8mption. under th• tomi$ of Financisl Reporbng Stsn(tard 102 'The FlnanclAI Reporung StaThlafd applKablo in the UK an¢J Rèpu￿￿ of IraLqnd', not lo di8¢lose ￿l￿ted party tranS&d￿nS with wholly owned subsidiaries vtlwn th• group. 19 ULTIMATE PARENT UNDERTAKING Tha ullmate uJntrdliNJ party Is Iho Bowd af Tr￿¢￿ Thr•¢tors. 20 COMPANY UMrrED BY GUARANTEE Kerfftt and Avon ¢8ng1 Tru6t (rhèl ts • ¢ompany Imil&l by gU8r8ntee and accordrngly dtt8 not h8v8 8 sh8re CBpIt81. EV￿ mernbtrr oflhe compèny undertakes to contri￿rte such amount as may be req￿red rot exc•8ding £1 to the a&s8ts of the charitgNe company in the event ol It bekng wound up Whi￿ bo or she15 8 rn8mbÈf, t¥￿thIN or* ye8rafter he or s t•asèa to bè a mmb8r. 21 POST BALANCE SHEET EVENT On 31$t D￿•Th￿er 21)24 The KenrEt & Avon Cand Trust lEnte￿r￿e} Lirnrtsd ￿aSed tr•llro and transfe￿0d Its trade and 9rftfjd all canal boats. fixbJr85 8nd fltUThJ$ and other fixod 455ets owned lo it8 Parent ¢i¥npany The Kennel and Avon Canal TnJ$t Umlted, ffjol$lered ¢harity numier 2092(6. Once Ihe remainiTvJ asset5 are liquidated and the closlng credllrys a pa¥J, Ihe final cgsh baLgnce wlll be gffted to the paofit c4rnpany charlty. Thè Kennet & Avun Canal Trust (Ente￿nsel Limited 111 wll be 9Wted to Ihe ptrent ccfflpany thanty. The Kennet & Avon Canal Trust IEnt8rprf&81 ￿r￿ted MAII then be di$soW. Pag427 K•nn•t and Avon Canal Tnmt D•t•ll•d St•t•ment of FIMnd•l A¢tlvStl•• forth• Y••r End•d 31 O•c•mb•r 2024 INCOME AND ENDOWMENTS 2024 2023 Don&llons *nd Iwclos Grants and doythns 38.462 8.986 139,462 17.502 71,OZ8 Legarie5 Sub8¢rlptk) 6,511 18,401 204,412 105.80) othor tradlng actlvStlo8 Admls$ion$ Croft¢)n car p FUr￿ra￿ng Renl rgc81v8d 59,146 253 2.754 35.148 15,479 76,308 fj5.417 Investmant Incom• Interest recelvaNe Intèrest from trading sub51dkqry 12,940 14,0281 11.3D2 14.4831 ¢omm•r¢lal tradlng tsp•ratloni Cornmercld tradlThJ cp8ratk¥Ths 284,919 281.384 Othor Incomo Sundry income 10,827 6.255 Total Incomlng r•$our¢•s 58&368 445.695 EXPENDITURE Buty costs Adv8rt1sement 8nd publldty Fundralslng Costs 4,420 2,112 3,562 1.323 7,418 5.581 Commercial tradlng op•ratlon* Costs of tr￿lIng sub$ldl8ry Inter85t cffl b8n pah4 to parent 170,452 4,038 260,536 4.463 Total costs of ral•lng fund8 166,414 256,073 PaEe21 Kennot and Avon C•n•l Tyust D•t•ll•d St•t•m•nt ot Flnan¢lal Actlv4tlo8 Icontlnuod) for th• Y•ar Endod 31 De¢ember 2024 #¢tfviti•a Wago$ Pen5ior¢5 Hlfy of Want ar¥J m￿h￿n9ry Rat•s and wai8r InsurarKe Llght and he8t TdephMe Postage and Bi8tIoMry Sundr￿8 Bankcharg8s Grants P8y8ble Heètth And $8faty Staff Iralrang Recrurtment R8nt R8palrs malnlenarK8 Dep￿￿1￿ Coal NLHF pwt C08ts Computertosts Sto(* pur¢ha$es 24.038 395 619 3,664 2S,977 13.260 6,293 0,389 12.293 7.452 4.011 359 533 1.032 11.674 7.283 1.837 1,088 1,363 5.111 187 21.358 34,888 13,569 9.839 10,396 4,243 974 16.584 43,767 13,001 14.145 26,554 6,890 1,068 177.149 220,159 Support costs Inde￿ndent examkne¢8 remuneralon 1.320 1.320 A¢￿￿n￿ncy lees Other profvsslonal cc61s 9,146 2,331 3.610 19.527 12,797 24.457 Total r8scurr*5 experrtled 363,Tl8 506,270 Not •XF*ndliuro 221 Pw