AVON NAVIGATION TRUST
A COMPANY LIMITED BY C.UARANTEE
AND NOT HAVING A SHARE CAPITAL
FINANCIAL sTATF.￿1F.NT
FOR THE I'EAR ENDED 31 DECEMIIER 2024

AVON NAI'ICATION TRLIST
'HAIRMA￿'s REPORT 2024
OncL again, it is plLasing io rerM)rt that mi l¢lloM Truskes and I can look. back on ?024 as another successful one tor the Trust.
Our aspiration and moiii'aiion remain io focus our efforts io ensure lie haie a SUStsinablL plaitorni for the coniinuation ot'our
Trust kn a l(ILally fo¢u55¢(l inde￿￿￿¢￿1 nJN'igaiion auihorii!"_
When one ot-our loyal and sUPPOrtive Pairons. Timoih). West CBE. recorded a commentar). for us on April 2024 to be plaved on
our trip boai, CO￿lr. lirtlc did we knoll Ihai hi I4'0uld s(K>n atiLr. i'en. sadl!. pass a￿"al. in NovembL"r 2024. On bchalt'of past
and prl'seni trtistLes and MLM￿.rs. l iyould likLS io iribuQ io Tim for his uthwav¢ring support for th¢ Trust love ofihe
Rii'¥r Ai'i)n and 1)n i)ur Li)nd(Il¢nL¢s t() Pru ih¢ farnili..
We are delighted ihat Toi'ah Wilcox has agreed io become a Pairon and ourm'arniesi of w'elcomes go out to her. ToN'ah lives
'SIdL￿ ihL Alon and dL￿ri￿.S IhL fivLY as otlL ofihL thrL*' g￿1 loves in hLr lili- Ihe others ￿￿'ing music and hLr husband.
On tht Stuffing 5id¢. there have been chang¢5 in 2024 lir￿ inio 2025. Dai4. has left the Trust for fu. milN rewn¥ and we w'ish her
Ivell in hcr nLII' POSI. IlaitiL has replaiLd l)uisi' ar￿ has hii ihe ground running w'iih expert e￿Icienc1.. Il'ill l.'ish, a long-ILrm
supporiLr ofr'ihL-frust, joinLd IhL sthl'l-in ?0?4 and has continued 10 dLvelop and build on his skills and knO￿ILdgL. WL also sai
AdriJn ¢c)mi bJ¢k 10 lull SP¥¥d all¢r his illn¥ss. Our C hi¥f l--.KLYUiiv¥ has olso rt'OTgartis¥￿ ih¢ front-lin¥ siall'to ¥nsur¥ Ihai ihL>'
arL' rLaLlive Ili¥ibl¢ 10 the workli)ad (l¢￿and5 of the organisaiion.
l.'indnLial sustainabilii>', both short and long *nn. is nev¢r for from our minds. M¢ ¢oniinu¢ ￿ see our ¢oll¢)gu¢s in boih small
and largLr inlJnd nawi¥iaiic>n duihciriii¢s ha￿Ing 10 jugglL with N¥Y?- signi11¢￿1 i5su¢s and i¥¢ ¢nsurc Ihai mc)niic)r iiidlr
aiLrwil} Tlliltlip* <ind *upp()rt iiihir (Trrgthisilli(>ns w'h¥'rn M'L Lati. Ni)I hal'ing a grani fundid m(yJL'I ib pa)'iiJg diNidLiJd4 and
As Irusi¢¢% w¢ ar¢ v¢rv ¢()gnisani ol'ovr long i¢mi lii¢nsin8 Stra*￿. i%iih its ¢or¢ principl¢s in¢ludin8 making sur¢ w'¢ rais¢
Lni)u¥¥h I'unJ% li¥ mix't uur siaiuliirn rnbp(ffisibililiLs.. havin¥ i￿ough lund5 Iv thi 51Ladi' stslL difilil li.¢. milk¥ %uri WL Lan
luLklL majiir inlruitrulturi ￿11 l(ILks LlC.I'. rnduLin&? uur rLlidnLc Unpr¢￿IL￿1L inLI)JnL l%uLh L(IniraLi inL(ImLI.' ulway5
LnciuuTrh rLIL'fvLS and havin&T ljiL'nLL %iruciurL (hai Is Ll)mpLiiIiVL' uThJ d()LS n4)l LNLLLd ihL rL.IL%'ani C'R'I IiLLnLL ILL%..
l)ur inL(ImL' L'¥LL'L.dLd £1 m in 2Q24. M'hich is renLXIt%'L ofm'ider innaiionao, Pri￿%￿re% and ihL IcNcl i)facil￿11% ihJi ihL Trust
Il()i%.'I'hi% ni)w miJn.% thai thi aiii>unis JN. suhj¢Yi li) Jddiiicinal ¢xi¢rnJl ¥¢nJiini- and Judii. W¢ hJv¢ ￿￿￿1v¥￿ i'¥ry' p()%iiiv¢
fLLdbaLk and high assurance from Ih¢5¢ ￿¢1¢0m¢ ¢xicrnal L*'¢s on our charitsbk aEIiviii¢
11 15 IhL inirgj. and Li)mmitmLni ofboth our voluniLxYs and ihL small nUm￿r or5￿n.that SLMS us apart fmm (iihLf (ITganisali(In%.
Our aLiive wi>lunteer numhep* remain c)*er 100. I helieve ii"e have a %ifiJLiiire w.here vcTrlunteers Lan £)perdie %dfel!' dnd i)I'LIIUrnL,
havi lun and Lnjii%' Ih¢ rii'¢r. l Mould lik¢ Io u5¢ ihis ￿pOrt lo ￿rsOnall% thank all our i"oluni¢¢ts. l and m} I¢ll0￿. Irubl¢¢s lull)
cknowlLdg¢ all Iheir rontribulions.
I wish lo give a 5p¢rial thank vou lo our small skff team and our C'hief LxrKulii"¢. Cliv¢ Maith¢w& who continu¢s lo driv¢ th¢
Trust foNard ￿1th Lnihu5iasm. commilminl. prolLs5ionalisin and cNpcrtis¢. This i.ear hi5 LnginiLring skills hai'c sai'l￿ ihc Trust
hundr￿￿5 ol-lhousands ol-rx7unds and his Lommeriial ThLyoiiaiions hai'L won the Trusi o%er £330k ￿Orth ofconiraLI work.
As iilwilN"s. 1 ￿ k¢¢n that ih¢'l'rus1 r¢main5 4 highl%" r¢5prr¢¢d and fin4nrialli" 5U5¢ainabl¢ Inde￿Iden¢ navigdtion Juthvritv, and
¢ w'ill 5¢¢k to ¢llsur¢ that li remain5 SO.
J. Irk IIFCI.4RTY
16 June 2025

AVON NAI'ICATION TRLIST
fEx
utiv
Offi
ort 2024 A
OVe￿ie￿
In the tir5t live month5 Ot-lhe N'ear. w'e ￿t￿ne￿¢¢d oi'er filleen ii.ttks of on ar￿ otT flIM)ding wilh the Tiver only properly back in
the amber and green b￿. the end ol-ma!.. This follow.ed Ihe tnd ot-2023 iihere sail ￿e1ve ￿"eekS of nooding up io Christmas
2023. This mLdni thai thL ?023120?4 tli)od SL'&SOn lasiLd an unprLYLmdeniLsd Lighi mortths i¥hich included tour major tlood
e￿¢￿1%. Th¢n in Ihe.4ututnn tsf 2024, the Tivei ()n ?ird S¢pl¢mher Mhi¢h the 20?4J2025 fl1)()d ￿t￿￿n ih)i ccinlinued
until M(wLh 21125. a toial of 5¢v¢n monihs."lkni5 flooding mellnl thai the 2024 iK}￿l￿g season ￿"aS reduced ￿ only four month5,
i¥hich is the shortest in modem times..
l am plLagL'd 10 r¢port thai our rivLr w￿Ch. fl￿1 OIL￿ and ¢mail alert S!Sl¢ms ￿orkl￿1 ￿¢11, wld our ()n-Lall ILams work¢d
aliingsiLl¢ Ihe ()Ih¢r ii¢r IHC) ii¥¢nLi¢5 11) 4111 th¢ inLi(knLN Ihth i￿)5¢ fr()m Ih¢se events.. In thi% p¢rii)Ll ANT w(Irk¢(l P<trt
ol'thL' l()Lal'l aLiical Cuordinuiion Groups Morking alongside ihL Police. l."ire &. Rcscue. l.OCiil C'ouncils. l.'nviTonment Agcnc!.,
MOD, ParamLdics eic. Llnlortunaiel%', this durdiion of Ilooding. iogether ii.iih all Ihe major floods. meani Ihai we m.cre noi able
io do dn>, ol'our plannLd mdjor works and this dUr￿l0￿ ol. IIo(Mling l¢tl ih¥ nakigaiion ￿1th numirous major ISSVLS i¥hLn lh¢
Ilc)c)iJ% %uh_%idLd. WL alm) luyl thi I..￿[lr duL Its tI(K)ding arjd the S¢￿ eJT¢Liivel!' fir)ished thrLx' ￿e¢k&- eaTI)* which had il
ignifiiiini LifLLt ()n i)ur sh()rt-ILrrn liLLniL' inL()m¢.
During 2024, ￿'e experienced se%'erdl majorcollision impacts from large ii'ide-beam barges on severdl ofour lock siruciures-
IhLsL bL'inb) Ilan inb)iort, W¥ir ]Irak¥, Nalltird and s￿.￿ShaM IJKks. lTh¢ 10 ia¢h lock i¥as signililani. IThL damagi 10
I liwvinbTI(}n l.iiik IiLLurrLxi Liwl) in Ihi %L-(LY)n ()nL ¥<ilL had fiiilixi. y) inili<ill!' ￿'l ()tKrawxi ￿llh.1U￿l <inL YIL ￿'1th a Mi(Jth
rL%triLlI(In. Wi dLNLlI)pLd an ￿￿)￿L￿N￿lL1Lr TLpair s()luiii?n Ihai ￿l'L￿ IhL T￿j￿ hundrLQ% i)f ih(iUSELnd% (If pL)und%. ii'hiLh 14'L
in%tallL,d IhL' SL'ason slartL'd in JunL. WL ManagL￿ io limp IhTI)U8h thL SL'&son M'iih IhL othLr ihrLX. l()cks. ii'hich ii'L'fL, dama8Ld
lJi¥r in th¥ %¢Jsi)n. li ¢l¢Jr thai th4￿ llC)uld noi suThii¢ Jnothir sw)n. and ih¢!' i¥ould major w'orks bif1)￿. th¢ 2025
%La%Iin.%l￿1￿L1. I)I)￿'ni11II1} Ihi L(>yls (Ifihix %illTks Luuld bL' an Lslimawxi £250.IKK).
'Ih¥ ihJlling¥ in 211?4 ￿.￿8 ti) managi our r¢wuri¢s io b¢ ablc 10 matnthin th¢ navigation, ha(ili ihl floods and Ihi damag
h} IhL Ilii<id% iind hiirgi impaLL%. %-¥ll L()niinuing io Lam inL(Imi for ihL'I'rws1 Iri?m ¢iin¢raLI Miirk. l..vLn iliih thL
Il<i(HJin&y j.%%uL% l plithKd iii rLw)rt Ihal aLhiLb'LYI Ihi¥ and SULLL%sfull! dLlii'LrLyl %()mL mainlinunLL pr(IjLLt5 and
impri)vLmLn15 plus sLvLral LommLrLiJl LonirnLl¥ M'hLLh hL.Ips takL' IhL pfLssufL oITour ILLLnLL' illLumL.
()ur li)t41 numb¥r i)I'.%hort-i¢rm liiLnr¢s %?Id d(IMn on th¢ pr¢vious %"¢ar dv¢ io th¢ ￿npr￿￿(n￿.d am(?uni lif Ili)i)din& ihal
lo%t a %ig>niliLani numk'r vl-bÉ)iiling dills. Ria&Nuringli'. WL saw th￿ Ihc numbcr ofannual liccncLs achiLI'v Ihi higThL%t nuiiibLr irt
i)vLr ilLvLn JLar% al 1.511. 14iiai movLmints. as mL&surLd b) the numk'r ol'boats through Avon l.OLk wLrc rLdUll￿ k'Ltsu%L
i)I'thL' L.ftLKI i)I' Ihe fl(M)ds with a la* start and an earl)" finish 10 the seawn.
EvLn with all ihL difticultLLS cauSLd bi. Ihi unprcCcdi￿1ed flixiding l am ple￿d ￿ re￿rt thal our to￿[ incomc ol'£1.058.9K was
i)ne i)I' Ihe hi￿)heSE in Ihe Trusi's hi%t4)ry and we aLhie%'ed a health! ne( inLome of£1 67.4K. lTris meani Ihai i)ur nei Lurrent assets
ii¢ri 1456.6K. M"hi¢h as d¢finixl b!" Ih¢'l'n]$1'5 slrnl¢g) io prtil¢rL th¢ Trus1 fivm il POt¢niial p¢rivd (if fin￿¥1￿1 unvlriainiy
and inlrastruciurc failur¢."I"hi5 incotne Mas achi¢v¢d bl" the sUfC¢ssful d¢li&¢n" of5ei.eral major commercial contracts iii the
year. dc5piic the flood5. logcther with healih)" income from annual licens¢S.

AVON NAI'ICATION TRLIST
Administration of th Trus
Tiwo tLsiii'als wcre sthged in 2024. These iiere Eiesham and Pershore. ANT supp)rted boih ￿lth our'Ri%'er Al'on Welcome
Centre, IiiA WCI providing an ANT presence and lie opeTated iiio thp boats monned b!. I'olunieers ai both tesiivals.
The TTUSt Lvnlinued lo engage LI￿ne PoH'ell of Crurial PR. iilltes our press Telea5es and helps ￿"1th the publicaiion of
the 'Bullelin' and -Avon Boater5 Gaiewa!. This professional sUPPOrt signilL&qnili' impro*es the lei'el of publicity, the Trust
achici'cs and rdises thL Trusi's profile.
W¢ LL)nlinu¢d i(1 build upon uur vvlunl¢ering aLliViti¢5 in 21)24. furtheT de¥'el(wing our vOlun￿r Iraining managemenl
5}Sltm Lalled Iklter Impaci. l.his sjsiem help5 us bdier harness the incredible enihusiasm and hard I￿Ork of our supporter5.
Through the )'ear i%e were joined bi S￿'traI new volunieers. so our i'olun*er numbers coniinued 10 increase. ANI. Squad. I'ouih
voluntLLring basLd in E￿LshaM using NLPIUnL as ihL loiiih continued ￿ groi4' in its third K'Lar. II'L had 14 squad mLmbLrs
Ihilt ML'I iv¢r% ThUr￿jaI through ihe %e￿￿tI its tsk¢ parl in Tii"er ￿lI1'i1]eS ii)lunieerirtg. Thl!" were alsi) heai'ill lnili)I￿clj jii
SUPP(irting ANT ill IhL ftslil'als. Th¢5e pe(Iple <ir¢ Ihe fulure b(Yai¢r5. i.olun￿rs. mLmbL'rs (If thL TTU51. Fl). thL Lnd (If
IhL >'ear the number of volunteers had risen io I I l and 5.IX)2 voluntrer hours ii'ere undertaken during the l'ear.
A major voluni¢x'r project sian¥d in O¢iobcr 2023 ￿mprising th¢ iniernal r¢furbishm¥ni orth¢ El'esham Volunwr Training
CLntrL' IihL old A IramL EkLsham Lock Hous¢l. During 2023, ¢ontra¢wrs had iosthll¢d a r)LM lloor and fi)undaiii)n lig.
lund¢d
b) il gyrunl I'riim F.vL'%h(tm T(ii%n C(iuntil. Thln <1 lilun ()f%L'i'Ln &i)lunliLT% ILYJ b!. UUT I'l)IuniLLf ILddLr. J(Iniiih<tn CT(HidL.
lv(1rkL￿.4l￿I1￿l￿, Ihri)ugh IhL winiLr iniLI SpTing ?U24 fiiiing oui the building and iurning ii inu) a high.SPLLificJii(In trainingj and
mLLiin¥ laLilit)' (Lyual li) an%. pn)1'idL￿ in a hIgh-Ll￿ ho￿11. I:nornM)us congratulations and ihanks go ii) this i)I'v()luniLLrs
%￿hlI ￿k￿y1 Ih¥'l'rus1 tL'ns i)I'thi)uwJs ol'w)unds hol'¢ provid¢J thi'l i¥ith # signiliiJni ￿$¥1. l)uring 21124. fi)Ilciwing
lurihLr.4u¥LL%4lul briint funLling iippIiLtsiii)n¥. Ill L(?mpIi￿.J Ihi iiw'rn(Il grvund w'vrk-5 lind in%(allLd slup%. All Ihai 1% ILII IIJ
Li)mplLIL Ihl pruj¢LI is Ihe in51allation ofioilels and changing faciliiies w'hich we ho￿ ￿ Lomplde in 2025 fund% Kxi)me
4LvailablL.
'rhL'I rubt Li)niinuL% l(1 hL' priiud io w()rk il(15Lli' wilh MdriiimL Volunkn'r SLrvicL SLVLrn Ilnii IMV41 b&%id in TLwkL5bury'
kL?' pJrinL'r hL.Ipin8 us Ici dL.Iii'L'r numLri)u% pri)jLLts.
Sdilli. c?ur Ii?n¥-.%¢anJinb pdir()n and iuppc)rt¢r. Tim ￿-t￿l C'lll.- p￿xI awJ% in 2024. rim hJd h¢¢n a higi ￿Uppl)rtlr i)I'¢h¥'l'ru¥t
<?￿￿r mth}' d¥Liidis aind was iilwdis willing? 10 5UPIX)ff U5 ill 1is1ii.alk unvLil and. iiirliLr in 21124. rLYi)rd u L()tlllll¥niurn
li)r ()ur trip boat in l.'visham. I li will bc sadlb ffl1s￿d b!. all those in ihc walcrwaj's familv.
W¥ M'¥r¥' pl￿￿,￿ 10 wil¢omi'l'o%"Jh Wilic)x &$ O Piltron of1he-l.ru￿ with a special in*r¢bl in th¥ >ouih %'oluni¢ir wing i)fthi
.1 ru%t. AN'I. Squad. 'lo)ah and I gr¢ii" up on th¢ rii¢T al ii"¢¢k¢nd5 and holida15. 50 i%¢ go Iw-k" a long ii"aJ. lol'ah lives bj the
rivir in Pir5hurL and Ihl riiir 15 onc ofhLr Ioi'LS. Wc ]￿k foNard io ii"orking with her in ihl coming )'Lars.
t)dl%K. W()()d, A%si%tdni ()rriLL' MdndbPL'r, IL.ft us dl IhL' L'nd )*df Ici thkL up J tLYm4iML￿inlI"J1)b thai M"d% nLJrL'f Iii hL'r h()m¢,
miik"irtgT hlr i(iung fJmil)'b w"i?rk-lil¢ iMlanc¢ kit¢r. ￿,< thank h¢r f(w h¢r hard ii.ork oi.cr h¢r timc w'ith us and ¢bpLciall! for
developing our volun¢e¢r and da¢aba5¢ and covering for Adrian ii.hile he Mas ab5enL
As 2025 start¢J, we w*lcom¢d Hati1¢ Rut¥¢rs H"ho has. r¢plai¢d Dai))". W¢ IiK)k fornard LO w¢l¢iMnng H&iii¢ in her ri?le.
We a150 w'elcomed Will Fish as a statl-member in the neil" role of Compliance & C"u5tomer SeTricc OtTicer ICC 501. Thi5 15
cttLYiii'clN a rii'Lr policL rolL Lntoreing our b!'Llaw5. Will has bccn a ￿Olun1ccr tor manl I'car5 and a lulli. qualiticd SLLUTitv
Eudrd. s() he bring% both the relevant qI￿l￿rIcallonS and elperience required 10 underthke this ne￿ impojtsii role.

AVON NAI'ICATION TRLIST
Riv
r Maint
and
.ontrn t Work
Folloiving the flooding because (his I4'&S so late in the i"ear. li'e had 10 engage conirdctors 10 do mosi of the lock siie firsi grdss
cuis. ContraLtors also undertook a signifjcani a￿o￿nI oftree sllrget!. iiorks to make safe sei eral ot'our lock siies. Then the siatr
artd VL)luni¢¢p* ullLl¢rti)ok Ll¢arJn¢¥, dr¢dgin¥ and ￿pair ii"i)rk, g¢tling th¢ river ttTr ih¢ poinl ￿h¢r¢ naiii¥iltion w)$
P05sibl¢.
OnLL ihc tloods had subsidcd. H'L undLrtook thL major re￿ir on the bouom 8￿(L￿ ￿ Harn'ingion i¥hich uiilisLd an above-
I￿aItr %LLond_%irdp %olulion. This meani thai did not n¢e4110 dL￿th￿tr th¢ l(Kk. the larg¢si on ihe river. ¥ving hunLlr¢ds of
Ih(iUWnLl% lif tK)unds. Whil%t Ih¢Te, 11¢ alM) L(InduLi¢d a full refuTbi%htn¢nt (If the g￿11¢$ P<iddl¢s.
Folloiwing our volunteer season re-start meeiin& ii'hich included a refresher on ihe use of Beller Impaa and conducting ihe
annual L￿trainIng paLkagLs, our corL' volllniL*'rs mainiained our IoLk and m￿?￿ng sitL%.
Some ago M'e installed IoLk huw either floating or land based. al all the up￿r locks. This hds rhen meant ihai the volunle¢T
ieam ol-RLuLh MastL"rs could store their mowers and equipmeni ai each SI￿ and continue thL da!'.104aN mainienancc i)I'thc lock
SItL￿5. "I'his rolloui ol-IhL I.ANI' principle ol'ioluniL*ring ¢oniinu¢s to sJ¥¢ a signitiuni amount of gnnual ¢xpens¢. n¢gaiing the
Ic) hirL' in ¥onirJLtors ¢0 Ihl summ¥r mo%1 ing.
l)uringy thL I WiL% 5ULLL￿NIul in nlgiilialing %iiLTuI L[￿1rdLL¥ with thL' F.n¥'iN)nmLnt A¥LnL} IF.Al Ni Li)vLr LILiiranLI (If.
uriiius struituris (In ihL l'ull ri%'Lr.'I'his mLani Eh￿ M'L MLfL dble iu impro%L thL safLlI' and I￿k uf thL nu%iguiii)n whilL ui IhL
samL iimL LJrnin8 irnrK)rtani L(Inirnci inccimL' lor ihL'I'rusi.
Our l.'A IIvLkni'iur partnLTship agreemeni was due for reneg(bliaii(In in 2024. 1 am pleay¢d 10 rerrtJrn thai15uLLiSSfull>' nu%g)lJliulLd a
nL'w impriivid IIvL")Liif P￿LrtnLr$hlp agprLLmLni.'lThis neil awxmL'ni iniludLMi Ihl abilili. 10 rL4llLgll)iiuIL Char¥L￿)￿l fdlL%
dnnuall}. PL'nn)'wi)rt rLmoval. dnd signiliLJnil!' InLrL%SL￿ IhLS ts)thl Jnnual valuL ¢)[￿ork'S IhJt IhL JbfL*'mLni Li)VL'rL.d.'I'his
%U¢¢¢￿￿1[ll r¥n¢lb>i)tiJtii)n i)nl)' p()￿sIbIl Jfi¢r d¢monsirJiing th¢ pri)li￿l0nalI￿M and i()mpiiin¢¢ ()i-Ih¢'l'ru%l a ii>nira¢ti)r
10 thi l-.A i)I'Lr mdn) VLars.
I ul%(l %ULLL%%ful in winnin8 Sl8nifiLant Ll)nrrdLlS 10 SUPlX>rt IhL' rL.furbishmenl ()fC'I()pton IlridgL and Ilinii)n IlridgL. fi)r
WdmlLk'%hirL C'i)uni%. ('ciunLiI plus ii)nirdLl% li) %upp(ift M'()rLL%l¥r%hirL' ( i)unti ( i)unLiI in maintaining ¥¥w¥ral i)rth¥ir hrid&¥%.
Wi i%¥fL' (11s() ¥ll&Tag¢d io in51all larious privatL' mixTrrings. lind c(ffiduLI 1]￿%181thg and trL* Mork5.
IlalanLinkTr ihL llLLds ()I'ihL projL%ls againsi siill mainiaiThing thL navigaiion i%hilL Lnduring unpTLLLdLniLd Ili)i)dinuTr ai nd hark?L
ImPJLl% maj(Ir LhallL'n¥L. ThL fa. Ll thai M'L i%i'fL' ablL' 10 pri)rL￿51()ndll￿. %uprx)rt fL4uifL'mLnt i>l'vtirii)U% LIiL'ni% Ldrnin
in¢()mi fi)r thi-l wsi whil¢ looking aft¢r lh¢ navigaiion is a *stam¢ni 10 th¢ J¢dirJiion pn>f¢&sionalism i?f th¢ ANI. i¢(Im lif
51all.and voluniccr
As usual Ll)nduLILd our nornial dred8ing programme and ground works ihroughouL the lear and responded li) hreakdi)Mms.
dnd when r¢4uir¢d.

AVON NAI'ICATION TRLIST
In summar!, li was another l'eo iough )ear. made eien harder with unp￿ceden1td amounts of flooding and major damage
caused by barEe impaLts. Hoivever. hard Nork and deietmination preiailed. and lie aclu￿1% delivered another iern SULcessful
y¢¢W. W¢ mana¥¢d lh¥ r¢s(IUTL¢ n¢¢d¢d li) SUPTX)rt lh¢ (lilT¢T¢ni pr()j¢¢L% li?¥¢th¢T M'ith ()p¢ning )n(I mainiaining the nai'ig(Ition.
W¢ sULCtssfullJ achiei'ed thi5 difticuli balancing aci and w.eni on to compldt some importsnr mainienance project5 ￿ well a5
maintaining our reseThes, Ihus ensuring ihe iuiure success ol-the w'atrTh4aK". The ouicome M'e achieN'ed shoii.ed Ihai we 14ere rnore
than up io Ihc challLnge, and we dLIivLYed ano¢her success￿1 )'&gr.
W¢ (tr¢ all P<lrt of the vnguing histors. of th¢ nill'igalion. foll(IMing in the footsicps ()f the gi{￿t5. i¥h(I rest(IT¢(I the river i￿1(1 ￿'hO
Ivent tK'fore u5. We are rn¢reli cuslodian5 of our lo&el!' river ensurirbg lh￿ li is here for the future generations to enjoy and
naiigate. and i¥hai a prii'ilege li is 10 be a small part ot the River Aion's his￿[}..
l M'ould likL io record mi. sincLre thanks 10 mi. ststT. Ihe volunieeTS, and OUT directors for all iheir hard Hork. and support
ensuring Ihai ￿e surviv¢d anoih¢r iough i'¢ar, all ol-Ih¢m A¢pping up 10 ih¢ plai¢. As som¢ sa),. .￿hen th¢ going gcts iough. the
ci,ii'*.' fvi..i i iiifr.'M's
fEx
16 JunL. 2025

REPOR I. OTr"'I'HE'J"RI S"I'ELS
for th¢ vear ¢nd¢d JI D¢cemh¢r 2024
The Trustee& who are also direclorsof the Charih. for the pur]M)-￿ of the Comp3]Jies Aci 21K)6 and Chatitv. La￿.. present
Ih¢ir r¢EK>n ￿1Th Ihe linancial ￿al¢￿t￿lS of Ih¢Charip. for the 1¢aren￿j 31 Ikc¢mkr 211?4. The finaneial sthiements
omply with IIK" Charil>'s 8OWiming d￿UMenL Charilits Aci 2011. Ihc FinanLial Rew>fling Sthndard applicablt in (hi UK
and RepubliL ul'lreland IbKsio?l and Accouniing Jnd Kep)ninE ￿. Charities." Si￿eMent of Kecomtnended I'raclice
applicablt to chariii¢% prtparing Ih¢ir a¢counis in accorda￿* %i¢ih ￿1¢ finwicial Rerx)rt¢ng Sts¢)dard applicable ￿ Iht IIK
and RLpiiblie of Iriland publishul in OLYoiKY ?019. Thc Dirtciors, RLwrt. rLNULred ￿ L￿mpart￿. law. is included
within the IMx4v of the Kep)rt of 1k.1n￿l¢¢5.
Reference *thd.4dmithi$tr*tiTre Dti&il$
R¢gis*red No.00857695 Ir.ngland and Il'alesl Regi￿tred Chants. No. 244951
t4¢gist¢r¢d oific¢ and Principal Offic¢.' Mill Wharf. Mill Wi'r¢ Pi(kll¢. V¢rshor. l1..￿￿￿¢rsh1r¢. WRIO 2JTr'
'J'rustc¢i
'I'hL dirLLiors ol'ihL' chaTithhlL Lompan% iihL Lhthrill'l arL' ils Trnsw for tIK' pu4w of¢h8ril> law. Th4. Trus￿.$ ofihi
Lumpanj during th¢ )'¢ar and ¥inc¢ th¢ i'¢aM￿d as rdh)ws:
J IILbidrli (Chairmth
R A tli)rlLy
R C'latr
(i M A L'r4vK'
l) (' CYr￿r
M J Ili)db*L'S I'l'rL'asurerl
l. K Yiiun8
'I'hu' Lhiel'l.'.XL*UliVL' ()lli¢er 1$ L Mail
I'ompAny *crctary
A Main
Independent ¥lurJitor$
Djll Audit l.imited
C'hur¥h Coun
811)urbrid8L' Ruad
Wisi Midlands
B03 3.rr
Soli¢iton
Thomson & BancL4 1.l.P
37 High SINXI
l>eTshLTr
'orcestershir¢
WRIO IAH

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
REPORT OF THE TRI'STEES
fnr th
ndtd
l Dec
mh r 2024
CQDtinu
Reference and.4dministrgtiie Details
B&nker¥
arclaJ% Bank plc
ndun
F.14511P
CCLA Inve&In￿￿t m￿￿b￿rItI)I Limit
P() Iloy l ?¥l)?
CM6 91)1.
'tru¢turt IvoTrernan¢¢ and IIAna
tmeni
CIO
l)u
'I'hL C'hdril) IS LonirollLd in dLLorddnLe wilh its ￿￿eMIrb8 d(K'unkmi& the M&mr￿d￿m and A71icl¢s of Ass￿)2110￿. and
IS il limiiid Lompun%'. limil¥d bi (k.fin¥Mi b) Ihl c'ompani￿ AL1 tr(Mk6.
'I'hi' C'i)IinLiI cil'MJnagLmLni. conblllUIL t￿TnI$ll￿R are aprA)inied bj ihe memlKYsof IIK. aimpan% in gcnLrol
m4¢lin¥. mLmk'r ma) ncMnin4LI¥ iLns' uilKY m¢mlKY. is ii.illin¥ iu k. fur ¥l¥xiiun lu lh¢ ('i)un¢il.
'I'hi and (Iihlr LonsliiuiiLinal maii&Ys arl oui in Ik COMF￿% s MLynixandum al￿ Arli¢ll￿ urAssoci￿1On. 11 IS
gii%L'mLYI h) LhL' L'i?IinLiI Ill'N(and￿*llL'ty1 ￿.h1(h is rL%wn%ibli for *￿tIng i￿. %irdligiiL dirt￿11(1n ol'ihL iirgaiii%dlii?n dnd flir
¥%luhlishing Tr?li¢y. "lkn¥ C'(iuniil ol'Mdnag¥m¥nl ￿8vI￿rI%. armj (k.k'8ai¥> Ik. otKr4tiL)n ofih¥ NaNi¥41ii)n
10 Ihi C'hiLI' I.'XiiUllVL ()17iiLY and ￿l￿1n•￿traiwn sialr.
Th¢ Tr¢Hsur¢r and Ih¢ Chairman onnuajls. to wisiikr of Ih¢Chi¢rE¥￿Ul1vt orri¢¢r. In ord¢r to do
Ihis. Ihi> Nlir 10 d rLy)rt pr￿Pth￿ dnnuallj by an exiemal In(￿￿(￿nI exEkn. which l￿.hmalkS Nmungraiion and IrLnds
li)r gimilar rolL% acri>s5 IhL ￿￿1￿[.
Ril4llLxI Pdfti1S ConniilLxJ ch￿tieS
Thi I.0￿.￿r A￿()ll Naii8aiion TTu$I l.Imllixl 11.ANT). R¢giSKT¢d ChgriTh"NumkY ?01856. is a connwi¢d Charits" bi. virtue
ofall ofihi DirLLiors Tnib1ees DI￿lor5 thd Tru￿ee￿Or￿Jih Lhthiies. ThL wniaci fvr Ihi5 Lhdrii) ib
Mill 11.'hart'. Mill l.anL. Wi'rL PiddlL. PerslMK Worcesler. 11-KIO 2JF. Noneof the Trus*es [wel￿e remurLa21ion or oikT
bun¥til Irvtn Ih¢ir work %4'iih ihi Charl￿..
It ib Iht reswnsibililj vf the lu tsk¢ dll re&4Trtidbl¥ 5I¢p5 lu ¢nsUtY th¢ ￿r￿ti. vfuscrs. emp101tt5 ￿11 Volun￿
Ns'nrkers ￿1 all IIKkk weirk overnight mtK)rings and oihu Install￿10￿% oFKrated b!" the comtKn.N'.
Thv ￿￿ti8 ofih¥ Ch￿lY ￿ held fur thvuthninisirdlioth. mainknwnce. improvL4nthi atml (k*lupmeni ofthe naviBaiion or
the River ATron.
Clvse i￿V￿r￿lI7￿n L￿mmuniCatiOn is mainiait*d ￿'Ith the TnLd's rt¢ighixpuring thavigaiiun auilMTrtilivi. c￿￿] Ri>er
"rrust and the Eni'iri>ntnent Agenc!. at all ti[[￿s.
Thv miijuf Tisks. lu which th¢ Chdrih is ￿￿￿ed. ￿ i(kniifiLYl bi" the Cuurtcil ofMtuwmenL hdve Teviewed und
sy8t¢ms have be¢n ¢stsblished to miliBate theEe risks.

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
REPORT OF THE TRI'STEES
fnr th
ndtd
l Dec
mh r 2024
CQDtinu
Ob'ective5 .4ctivitie5 ￿nd Public Benefii Stalcmtnt
The eompanv is principally engaged in th¢ mainitnaneL improkemeni and regul￿10m of the enti￿ Al'on Na￿lgatiOn. The
in activities undertdk.en UTe pruiided in thechief EiLruriie O￿lre¢S page5 2 lo 5.
ThL TrusiLYs have complitd wilh Ikir du￿.. in SLYiion 4 of the Chariiies Aci ?01 l. 10 have due regard ￿ iheguidance on
public knetil piiblished bv the Chdriti Com[ni￿10Th in ￿erCisIng their tx)wersor dthies.
D¢lail% are provided in ihe Lhairn?an'% RqK>rt and Chief f¥¢¢￿1ve olf￿¢￿$ R¢ry)rts on paw. I to 5.
FinMnci¥l lieiie
ThL financial highlights for thL year s￿. a% follows..
'loial incom¢ ￿Unted 10 El.058.()(Kb12023- £¥65.717l and exrrtndiiure amountrd w £891.463 17023- £739.0281.
rL's111iinby in inLonK' of £167.437 1?023- E l?0.6841. AfiLY ittk'irtg &cthJrti of IIK. mui'LYnLni un IhL in￿eStMent tsnd
mui'LmLnls in lh¥ lili m¢mix'rs subsLripiiun fwid. wial funds ￿. £167.68? (2U2i. £126.1531 iu
£2.5112.364 1?11?1. 17 414.6771. '1The'l'ru￿￿s 0￿5•d￿ ikne rL%ults 10 k ¢¥eelleiii.
Thl unrLyIriL￿.d lunds al 31 D¢c¢mtr¢r 2024. ¥¥cludinB IIK lif¢ mtmtKrf ¥ut>scripiion fund. ￿￿11￿ £2.485.556
12117l- L?.3311.1891. Alk'r¢Jiduciing fixed of £7 067.6461?023- EI.940.7691 this ietl £422.91012073. £389.6?01
I,urihLr dLiitsils cil. lunding %iurce% and how ¢¥￿￿j11uTe h&% Tn￿1.$ objL￿1￿eS are 8ifven in ihl C'hief
'.x¥iuIIwL I)17ii¥r'% RLPi)rt 2 11> 5.
In iurlv ?025. u rLyi¥w was Un&￿akin ofilK"Trnsi's currnmi otKYaiionsand IIK" wlic& mainiainid in Ihi lighi or
thi)￿ I ru%1 IIK￿r￿lI1(ln& with r¢'lLrL'ncL' L'hariiiLS C'ommi*%ii?n. docum¢ml C'C'19- C'harill kL￿'￿'L5 Iluildinb RL'siliLncL
purt i)I'ihK ¥m¥r84￿¢￿ ilraKw. TIK. F4xrV￿ w>li¢Th is lh￿ >kWS 4nd h￿n￿ is rKxl 4Ju¥
10 in L￿,￿11. 7028.
Th¢ Tru$1¢¢5 considw Ihgl fflinimum T¢5¢rv¢s n¢¢d lo b¢ h¢ld lo wi'er oTKofihrtt ¢v¢ntualiti¢sor ¢m¢rg¢nci¢5'.
I In the el'eni the companfv h&5 lo be Wound up trcc*JseofuE)avoidablec%iemttl chun8e& Ihe'lnjslees eslimllle IhL5 M'ould
tak¢ Ihr¥¥ IV SI¥ I￿0￿1￿5 Jnd hi￿¢< thr￿ io six monihsof ￿ wsls including r¢dundam' costs nea to be h¢ld. Thi5
dmounis 10 ￿ eslinUK'd £235.(KID
2 To a rnajur br<￿down such 8 I￿k wllapx. failurror major failur¢ such as P¢rSho￿ J4ull No4¥ and Island,
RIslY¥'i￿ IkVLild k. rL4uired for rebulld 10515 arn110 lover ￿￿ntI¥l iemi incthne lesiimdliyl 2 tnunihsl i¥hilL
Ivorks were undertllken."lkne"fnLStee3 e5tim*e that the r￿r¥e5 required in the WOTSt would be £215.0M.
3 Tv Lyler d r¥diiiiion in iniome due 10 reduiLxI num￿￿. of Jnnual athd ￿￿-1￿mi littntts in lhe}￿r5 fullLTrM"in¥ bcvere
Ili)oding such in 211117. FolloM"in8 the ?IK)7 AKf S￿1. an incotne reduction ofappTOXitnalel> IIW/•{£57.5kl
hich I￿l￿d Ihrnx )'Lars kfor¢ volum¢s r¢coi¢r¢d. This amouni(aJ 10 aroroxima*li' £172.51K).
The Tru%tee8 therefoTe c0Th5ider R tninimum of £235.¢th i$￿quate to coveroneof the th￿c eventualities.
Thlv albo noK' Ihat ANT has fIxL￿ a￿15 ofoi'¢r £? million includlng seieral WO￿nI¢S lh* o)uld be mortgag&J if nK>T¢
¥M¥r¥eni￿ funds lye￿ ￿quir￿d th?ve the mirtimum I￿[￿￿ w lo tcpluLY C1]￿ded emeTbYrtL* funds.
B￿cd on cur￿n1 si¢adi' st￿¢ gap anali'sis as th)cum¢ni¢d ¢n thc bi-monihli. EnginLrring Retffi. ro achie￿¢ stea(fv state
rv4lli￿s Mvtks ul-£820.(KIO. Th￿￿1￿[< the TTusIc¢s Lilrt5id¢r Ihdl the uptxr litnil un T￿￿[5.¢5 should be
£235.(Mlll plu.5 £11211.OOD= £I.D55.Wll in thldition to T￿triCted r￿"th Hence the ￿11Th for 20)5 is to hold in
ullrtsiriiied KsLrnLs in the rangl E235.000 10 £1.055.(KKJ. In addiiion 10 Ihe Tesiricied res¢Tr¢& bui eiclud1ng f1xed assets.
At J l DeceTnber 21124 the"Iru£t'% unr&stricted funds at {2.4￿.906120)j- f2JJl3191 of ￿h1£h £2.062.646
12023- £1.940.7691 was lit41 up in proFth.. equi￿￿1. ￿￿ats aNJ i"¢h¢cks. This left £4?4.26012023. £391.0501 of
avdildble Tes¢tV¢5. This is in lin¢ with th¢ r¢seTV¢S pTrIlL￿".

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
REPORT OF THE TRI'STEES
fnr th
ndtd
l Dec
mh r 2024
CQDtinu
Irjveytmeni Pulic
It was noknl ihat invesiments could k required io k *eessed ai short notice in ikeveniof an eveniualiry as dtsCriE￿ in
the Teserves pK)IiL%' and agrLrd that fund should reflect thi5 ffttiaj r￿.
ThL Trus￿*8 s£Lk ￿ keep £5.(KJO in the M & G shwe aceouni. a minimum of £180.(KKb in Iht COTF accouni
d £55.000 in the bank" cu￿¢￿1 dewsit aLcOUn￿ a of £J60.(K)O in line M'ith the re￿Y¥C5 tx)lici'. A secund COIF
account is availabl¢ lo hold rtsiria¢d lunds.
Fund-r¥iyin
5tand¥rds information
ThL Trus1 dl￿￿ noi 10 r411Si I'units from the public in Ihe fomi of donations 8nd &$ S￿h. no profL%sional fund-raiser
ur LummLfiiuI wartiLipaiur hds. ￿en ￿￿Ked iviih this. NLirtv ANT nor ani khalf of ANT been subjKI
an undurtaking ID k bwnd bv arry VoluntsTh'.￿1￿￿ tiy regukning fun&Msing.
nt ￿u￿11 informxtion
ThL TrugtL*'g. IhL' dirL*iors conf)mi Ihai IhL ttiidiiors arL' Th)1 unawart of ans tL'ithani tsudil infomiaiion and all
ppr(ipriuii sILys hili¢ lJk"¥n lo ¢siJblish Ihis. A5 sulh. no wmptsints tr￿.￿ ￿¥ar(ling suLII
ULIIIIIIL4. I'hL'I'riiNI an> ￿rg￿n aciit)g Ibn its khaifhai'e rK)i subje¢1 10 an% undertak'ing 10 be knund by
any volunLLtI YLlk'nk' li)r Teguldlin¥ fun&raisin8.
Iu%%' K4uiK5 Ihi'l rus￿￿) Iu PTiPUTi finanLiuI siai&ynLy)1s finanlial FLYI0￿ M'hicli ¥ik¥ a Irui und lair i'iL
i)I'ihL' %lali' i)I'ihL I'riist thnd Ill'l￿, surplus or (k,li¢ii of thL I.rU￿ for th￿ ￿y1￿j. In prLyaring th0sL' lintsn¢ial 51UILiinimis.
Ih¢'l'ru¥l¥L.¥ r¥NuifLxI 10
selLLI suiiablL' xLouniing sxTrlicI￿ wld thL'n appli. them conSiSILnil)':
muk"¥ und ¥¥lim￿l¥$ ihal wr¥ r47M￿abI¥ [xu[k￿l..
Ihi lin&nLial %lalimLnis ijn IIK. guin8 ba5.is unk¥s it is lnappwr1a￿. 10 Ihai th
'I'ru%t will L()niinuL in business.
Thi Trusllxs Nswnsibll for kttyinB prwKY aLxxwniing rnyords which dis¢lox ￿'11h T￿onabl￿ ￿£Ur￿). ai un>. iimL
IhL' linanLidl ￿?5111(7￿ cil.1￿.-1.rtl5¢ and L'nablL Ilkyn toensurc Ihlli thL fina￿1￿1 SlHIL'nkmi& compli wilh IhL C'c)mpllniLg Aci
)o(hs, "rh¢￿ ori #Isi) ri4wniihl¥ for 5af¥guar(lin8 g$5¢1s of Trus1 h¥nr¢ fortsking ri￿)￿8￿1¥ sliT% flir Ili¢
prLVLniion ￿￿￿'¢i10n orrr8￿j arwj Ixher irrtyulariiies.
JiirG. IRTI.
'.hairm
16 June 2025

REP()RT I)F THE INDEPE)DE)T..II'DIT()iL5 TI) THE TRI-STEE% OF..II'ON N.11-IG,ITIOj TRI"ST
FOR THE I"E.4R ENDED31 DECEIIBER 2024
10
inion
WL havt aUdI￿d the financial sraitmtnis of,4I'on Naiigaiion Trusi Iihe'charirabk compan!,) for (he peTiod eThJed
31 tkLeTnLYi ?024 1shiLh LOTnpriye the Smtetnent uf FinatKial Actis"itits the BalanLe ShLYL the Cash Flo￿ Sialemenl
and noies It> th¢ linancial ￿al¢￿et}is. including a swnmm. of signifKgnt a¢£nuThtiThg tx)lici¢s. Th¢ fin8n¢ial rerM)rting
frajnC￿ork. Ihai has kxn app11L￿ in ihtir preparaiion is applicabl¢ la%4 and Lniltd Kingdom Acwuniing Sugndards
(United Kin¥dutn Generdll) ALcepl¢d Accounting Prddicel.
In our opinion IhL finanLial SLq*ments'.
- ￿l￿e d true and fair I'ie%v uf the 5knte uf the charilable cumpam.'s dffaits al JI 2024 and ofits incoming resouTce5
and applicaiinn nt'res()urce& including its income and eyrtndiiure. tor th¢ ￿ri￿1 ended:
- ha%'L bLxn prop-r1% prLyarLxI in aLconIan￿ ￿7¢h UniL￿ Kingth)m GthKYall% .4cLy*d AcLx)uniing Pra￿1¢¢. and
- hiiwe been prewar*l in ￿L￿rdance with the requiremenrs ufihe Cumpanies Au 20(16.
B*$i$ of o
WL Ll)ndiiitLd our audit in ¥¢ordan¢¢ ￿'1[h ITht¢rndtjon￿ Str￿d￿d% Audiiing IUkTr IlSAs ILIKII Jnd akylicabl¢ lum..
Ilur rL.4pon%ihiliiiL¥ undl'r tho.4j.%￿dard% funher d￿r1￿mI In IhL..ludiiorf rtsrrt)n%ibiliiic4 Ii>T the a￿j11 ot'ilic fiiiancial
SthILmLnig SL*lion ot'our rLwrt. M'i ari In￿,￿￿ndLnl of IhL <harithblL compdns in aLwrdanLX' ￿1(h ihL iYhiLal rL4uifLmLnis
IhJl r¥'l¢iwil IL) UUT oudil ufih¢ fin4mLiuI srar¢m¢nls in th¢ UK. inrluding th¥ FRC"s r.rhiriLI SiandJrd. and w¥ ha￿￿. lullillid
our ()IhLr Lihical rc￿￿n￿1hllIt1L% In accordat)c¢ %4'iih Ih¢s¢ requircmeni%. ￿,¢ ￿.11￿￿.¢ Ihai ￿lL audii ￿￿'1dcnc£ liavL ohtaitK
is suIIiLILYlI and appropriaiL4 10 proiidL a knis for ouropinion.
In diidiling IhL' lintinLliil sidtLYncrtis. Me ha¥L lonclu(k￿ Eh￿ Ihe Irus*¢s' us¢ofthe goin8 ¢on¢¢m bASiS of a¢£ourtlin8
in th¥ prLpiiraiii)n ul'ik. IinJnLial 51411L'rnLnis Is appr0priu￿'.
LJ on IhL' work w¢ huve ￿rf0m1¢￿ w¢ h8v¢ not ithtiiifi¢d 8ny m8liY•l vrf¢rt*inii¢s r¢lwin8 10 ¢V¢nLs or¢ondiliuns Ihul.
Ic)r a [￿ric1￿ c)I'ai I￿￿1 IwL'l%i' monihs l¥om thL finanLi4LI btslL'mL'nis thrL' auihori*xl for isSUL.
Ilur rL>pi)nNihiliiiL% und Ihl rlswnsibililies of Ik 1rnstr¢5 with r<sF*a 10 Boing 0)n(￿ aT¢ d¢scrikd in Ik. rLlivanl *clii)n5
c)I'ihi% rL'SN)rt.
I'hL Ifii%iLil iifL fi4Pi)nbiblL lor IhLi i¥¢hLr inlomiaiion.'IIK' other compri%* ijk. inlormtsiiDn it)cluded in ihe
Aniiuul R¥fftirt. Iiih¥r th8n th¥ fina￿181 sta1¥Yn¥￿1￿ Ind our R&Tffl of1￿. 1ndW￿d￿.￿l Auditors IIKYwn,
l)ur Dpini()n on IhL' linanLial %iaknnenis d(K% coi'er Ik (rthcr infomwion 10 the exieni oihcrnise ckpliciil) SlalLd
in i)ur r¥port. Iv¥ do nol form of8ssurar￿¢ ¢on¢lu$iw Ih¢r¢on.
In connLction with our aiidil of the finan¢isl stafrmenL* our rtswisibilth. is to read theother infomialion and. it) doin8 go.
Li)nsiil¥r MhiYh¢r lh¢ i?IhiY information is mai¢rialli In¢(￿S1￿¥￿t iiirh ih¢ financial yiai¢iii¢iiis or our knoHl¥dgi obtsin¢d in th¢
dudii or oihLrwi* 4lPPL-Jrs Iv ￿. mdlLrialli- mi5sldlixl. If M-L idLYllif% suih makyidl inLXYIS15II￿LIL￿ VT dppifLml mdlLridl
mi%%lalLm¢ni%. arL' fL'qUI￿'d &.ILrminL' whdher this giycs TISL. lo a maletiaj missiatLtnenl in Ihc linancial %lalLlllLiIIS
th¥mi¥lv¥s. It.. bab¢d on lh¥ %York hai'¢ Fkrf0n￿d. wc roTKlud¢ Ihai ihiY¢ is a mal'rial MiS￿al¢m¢nI of thi5 Oth¢r
informdiion. WL dfL fLqiiired 10 Ihai f&. i. W'e h*we noihin¥ io re[￿ in Ihis re¥¥rd.
'L nvihing Iv rLEKJrt in r￿￿piLl (Il'ihi tullu￿.lnE mallLTS the Chariiieb IALxounis #nd ReJffi5I Reguldiionb 2008
- thu inlormalion gI￿En in Ihl RLp)n ofih¢ TrusKes is inconsimeni in matrrial re5r¢a u'ith lh¢ financial 5ts1¢m¢nt5: or
- Ihg charl￿bI¥ iumpthl. has rK>l kgpi ad¥4uaie ￿unlIn￿ ￿tUr(L5": or
- the tinanci￿1 ￿tateMentS are not in a8Teemenl ii.iih the accounting records and retu￿ or
- we ha￿¢ not r¢ceiv¢d all the Infomi￿l0Tr and ¢xplanaiKms we r¢quir¢ for our awJiL
As ¢xplainl￿ Inorl lull%' in Ihi Stalcmcni of Trusw. R¢s￿)nsibl]IT¥￿ ih¢inwtts Iiikn are al￿ thc dirLYiofs of the
Lharilable Lvtnpani. lur th¢ purpM￿S ufLUtnpdnv I￿1"￿ are rcswnsiblc fur th¢ PT¢PUTatiurt ufih¢ fIn￿CId[ slalcmcnis and
tnr ￿ing ￿lI%1fed that thei, give a true and tair iiei*. and forsuch iniernal contr()l the tnLSttts defrtTnine is nett5SBI)"
io tnable Iht prtparaiioll of f1nancial si*emenis (h* ar¢ free fA)m maierial mi5siaiemenL whrfherdue ￿ fraud OT error.
In prep3ring the tinancial statanenls. the mL4ee4 are rew$ible far the charitsble 3hiliti' to continue
a goillg con¢¢m. disclosing. as applicabl¢. malle¥s ￿laTed 10 going concern and using ihe going wncem iwis of
dLWUlltin¥ unlgss the Iruslees Inlet￿ Iv liquidate charitsbk ur ts}C￿ VT have no Tealislic
altematiwe hut to da SD.

RF.PnR'f QF TJIE INDEPF.NDF.NT ALIDITORS TO THE TRVSTEBS OFAVO.* NAVIGATEON TRUST
FOR THE
ENDED3K J)FcKNlliER2O24
on
aleme
Ivc have bcen appofflied Bs alidi￿ri￿ll￿er Stclion 144 oftheCh3ri1i¥ AO 2011 ￿(￿1 tTh BCCOTdaDcewYththeA¢t
ODrobjttiiv¢5 4r¢looirtainJEasoDabl¢ a55urance Bbout whethttth¢fiD4u¢ial 51atem2nisas awknleat¢ from LnalNial
DllgSlthttmEllt.iYhether due to frwd OI ertor. atsd to 155Ufo RcpDrt ofthe I￿￿de￿I Auditor$ that ill¢ludG% oiir opinion.
Ressollibl¢ a5SWQUCti5ahi8b Icvel Of&Es￿l3￿c¢ blll wt a gu3r3JJ*¢ thai oudit cottdu£ttd ￿ arcotdantt wiih
ISAs(UKI ￿11 ai¥v0ysdei￿ athaEeria1missia￿rjkn1 il Lxists missiAIttr￿1￿￿ Wi5c from fraud orerior 8Dd
Jc cal￿￿de[clI ￿aleriOr if. thdjvidu￿jy thBaF8r¢gai¢,thes'¢ould MswabJyl*VKpeaedloillduellcethe¢cono￿jC
dec1510nsof￿sers iaktnon bJ5i50fth¢5c f￿an￿alS￿le￿trrt
iè¢xietsl loiv]uthour Pr￿edUreS Dre cDpoble ofd¢t¢¢iin8 frau(L i%dCtBi￿O bejow.
IVÈ lthlify ?￿d a55ess 1isksofmoiui￿ missw¢tycntofth¢ fjnIrK1￿ sla1cme￿. wth¥b¢tdo¢io frtudoreuor. and thE
do%iyi aiid pcrftsrni audit proC£d￿leS rewrtsiyt toibose risk4 iDC]uduyde&l*initsB ¢vidTh¢ethalisSutfj￿e￿E
ppiopri21e 10 prowde [￿b￿lS fOrw0p￿i0D
]n idcniifyingnnd rL%sCSSiiign8k8of￿j1ICrlll rwsithm￿I inr¢sT*d ofitr¢W*iii04 wduduJ8 froUdwODw.Wrfjpl￿mc¢
ithlaw$ alid vr8ylalioTLS, wc consithI¢ddie foUoivin8'.
. tli¢D4nw¢ofth¢ ￿0￿$￿, conlrol eDvwonrnetti thdbysuw4sperftrr￿c¢'.
- r¢5u115 0foiweniDiuie5 •bwi th¢wO1￿ idenhfiui10na￿d o5%¢5sDKDI ofibEri5k3 ofuTwlathios,'
- gny uiotter5 w¢ hAve identified bAvittAr¢v¢thtdtht company¥ forwmpjy￿8 ￿ryth lawT aThdiepJlalio
8nd 1¥h￿her they were LWAreofthy ws¢•nre8ofnon.collWi&xe.Th¢k¢y laws ADd r¢sula£iDD5 iYecoDsidtted in thIB
r￿text thcludedth¢CoMp￿e&A￿2ODo.
A5 Ai¢suII ufth&s¢ pior¢durcs wc coDsidcrtd theopp0th1￿1Iejth*i￿Y¢xl5lW1thL￿ theorganI￿1(th ftr fiwd r￿11￿8 LIL
fjtrlifjl misstaienienl inthc fjllancl￿ ￿#ten¢￿ts. Wr wusi¢Jtrtd that ￿y9J￿0p￿rtV￿l￿￿*¢Mu￿VIcd by the fid that
i¢wNipuny 15 under th¢¢1051 ¢¢otrol of lts¢Jtre¢￿rJ.
OurprocedurG¥lo Irri￿ at thiswD¢lwioty in¢luthdth¢followiD&'
.revi¢wio8 b￿￿¢•$he* ¢outrd Eccovlllslo en¥weprop¢dyT¢Mn¢ll￿,.
' ￿[romi1￿8￿￿￿t￿i¢ol pro¢eduTe410 idED1ify￿Y Oruoexptatd￿l1ir￿￿'PSl&lI miy ￿￿1¢1￿[15*S
)IJiSSITh1¢D￿ntdm¢ lo fraud:
-tnfjuirin8with rnani8cmentcollcerningthd fjrxl PO¢¢llti& liliWiffjdau
A hruitt dcscripiion r¢sFM)DsibJili¢S f¢rth¢ iudil oflbe rjD￿(l￿ is i0¢&￿j on the FiDancial ReportthÉ
Council's MYbsileAI www.frC.¢rKuklaudiiotST¢SpDMib￿1ritI. Thild¢s￿p￿¢Tr fornu p￿0[￿T RetKffl ofthe
tndepenthni Aydiloys.
Thii ￿POlI IJ rdlldBsolrly lo th¢cb￿￿ble￿1Tr￿s ibDdy. ul x¢oth￿WithF?rt4 Dfth¢QKiii
IAocoiin15 EJJd Re￿rt5)RegulaI1Dll1 2008. our*￿1¢ kts bttD so th41 w¢Jw8bl SI￿¢ io Ihedjuilablc
ppl￿5 trusieG% tbos¢mbtters We￿¢t¢4￿￿ed tO$1•*10 thew ID QDJudiliMI ond olbcr To the
11<51 &Ylenl penDiNed bylttw. wedo or •tyoorothuth8D th¢ WLd
thccbuiiable eotwys tntsirt4*abodY. forour forth$ywL OT forlbcopiniMs ivthA¥t fonnrd.
DJH AvditLiwiied
Slaiulory Audiiors
BliAiblelo RCI ￿ ao fillditorib t£￿￿or S¢rlton 1212 oftheCompaDiL%A¢r1006
Chuicb Cowt
SlourbridgeR¢ad
HOl￿ow<D
IV¢51 Midands
63 3rr

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
ST.4TE￿IENT OF FINAYC'IAL.4CTII'ITIES (including Income EApenditure.4ccountl
for th
ndtd
mh r 2024
2024
TotAI
202J
Total
I'nre5tricted Rt5tricted
ds
Income
Donaiions. IL8aciL￿ and subscfipiiotls
Invesltnenl IllLOtne
48.?84
14.958
15.(KM)
63.184
14,958
60.092
8.415
MilllltL'nanLL. iTllpTuvemeni re8uiation of t
Avon Navigation
939.721
939.721
755.792
'eivabl und ul
40.937
40.937
41.413
ToiAI lthtvme
I.IM3.91M>
15.IM)0 1.058.9(K)
865.712
enditurt
MiiiniLmdnLL'. imprO￿tMent reBthlaiion ofih¢
%'i)n NuviBuiiun
blJ.372
2.400
615.772
487.841
Suppurl und WVLmJn¢L ¢iJsI$
?75.691
?75.691
884.1kn3
?.400
Il¢)1.4(11
739.1128
134.837
12.000
167.437
12h.0114
IlnrL'ali%i'd Bainllloss) ot) inVes¢n￿l
330
330 1
MovLmLnil in lifL Mlyn￿'r5 >ubSiTiPtion fund
801
410 1
155.087
12.000
167.fy87
116.151
Tiiial liinJ hulanix% hriiughi forward al l Januars. 2024
?331.819
82.858 ? 414.677 ) 288.5)4
I'otal fund balanctA carritd f￿￿.￿rd at 31 Dtccmhtr 21124
?.486.9U6
95.458 ? 58? 364 2.414.677
All incomL and L￿PLndi¢1lrc (k"rivL Ir()m continuing actis"ilie5.
Thi biaiimllli ol. financial ￿livI11¥S incluth's all wains and loss¢s r¢cogni9¢4J in th¢ )rar.

AI'ON NA￿'IGA TION TRI-ST
IRtgislered No: 00857695
B.4L.4NC'E SHEET
r 21124
21124
2023
Fixed.455etS
Iniangiblt ass¢
T&n¥ible a￿￿e15
Inv¢sim¢nis
2.925
1,981.294
7.007
114? 143
7.6311
2.149.781
,991,276
rrtnt.Iq%
SILKk
l)¢hiaT£
li1￿¢￿(Ments- short Itmi dekN)SiIS
CHsh ul bunk in hond
10.832
Tr6.143
390.?40
?18.549
Y.516
176.327
449.683
645.764
648.141
LrL'dili)r%'. JilM)uni￿ falling
iiliin une Jtar
189.181
197.6
456.583
2.441.677
lob
•4.IKIO I
? 58? 364
?.414.fi77
unrLali4L'd cin In¥L￿1mLY71s
l.il¢ m¥mh¥r% Iuhiriplion lund
RislrlllL￿ funds
?.485.556
..350
95.458
7 330.189
82.858
? 53? 304
?.414.077
Th¢s¢ linancial slai¢m¢nls ha￿¢ IMI pr¢parwJ in ¥￿danc¢ w.ith th¢ srKri81 pmvisiOn5 r¢lating to small wmp4ni¢5 Ivlthin
Pari 15 0l.ihL Compdniis Ail 2(XJ6.
Th¢ linancial slat¢m¢nts wrr¢ approva b) Ik Fk)ard orTn￿l¢￿ on 10 Jun¢ 20?5 and W¢r¢sIgr￿ on its b¢half by..
Jll¢gJrfJ
fvl,-Q_l J. ..
Trusiees
Mllodges

AI'ON NA￿'IGA TION TRI-ST
IRtgislered No: 00857695
ST.4TE￿IENT OF C'ASH FLOM'S
for th
mher 2024
21124
2023
sh fl(bW frnm
vi
14
2(K)J53
253.1¢28
Ilow fTh)m inveytin
aclivitits
PaN'iii¢nt% Iii a¥quirL taiigibll till￿ assets
RLL*IPli from sali5 of tsn8ibli fixed asse
Pavtnenls iu llL4uire inve51tnents
InlL'rLsi rLctii'¢d
Dividinds rL'LX'iVLMI
232.231 1
222.645 1
7.3
366 1
8.04Y
366
301 1
14.657
301
217.574 1
207.796 1
t now fTh)m finAn£in
detrex
#Jh t#yh t
UiIAlem
17.221
46.532
626.010
579.478
rnb r202
008.789
026.OlU
C'&s1i Ji bdiik iii iutid
hcirt l¥rm d¥Trisil
?18.549
3YO.?40
449.6¥3
17h.127
24
608.789
62(>.010

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
OTES TO THE FIN.4NC'IAL ST.4TEIIENTS
for th
mher 2024
ntiThu
l Accounlin
Policies
The principal accouniing w)lic*s *Joptrd in Iht preparat*￿ of Iht financial statrments are as follows-.
The fin￿LIa1 &ldlemenls knve i￿en prepared in ac£urdance ii.iih Acwunling and Retx)rting ￿. ChJTilI￿". Stsfrmenl uf
R¢comm¢nded Praciic¢ applicabl¢ 10 chariiies preparing their accounLS in KcordarK¢ i1.ith the Financial Re￿ni17￿ %iandard
appliL4?bli in IhL IIK and RLyublie of Ireland issued in 1019 Icharilies SORP IFRS1021X Ik. Financial RLkK)rting
Siiinddrd appliLable in the Uk kepubliL ufireknd {FR51021. the Clkviiies Aa 2011. Ihe Companies ALI 2006 and
IIK Cienerall￿ Acc¢pied Accounting Practice.
Th¢ Tru51 th¢ d¢finiliun ora publir LrTh¢fii ¢ntiN' und¢r FRS102. fi￿¢1￿1 stsr¢m¢nts ar¢ prepar¢d un lh¢ going
conctm basis under the histori￿1 cosi conweniion unlw ￿1￿4.1$¢ swed in th¢ ￿levant accouniing wlici. rnte.
Th¢ iumpan}' Is a prival¥' cDJnpanN limi¢¢d bi. ¥uar￿n￿. Th¢ wJnp4W)'$ tw¢niaiion ar￿ fwi¢lional curr¢no' is Pound
ILrling.'I'hL accounL4 arL' ro￿d￿XI 10 IhL' nvdrtsi ￿)und.
'rh¢ Lumpan} s f¥¥is1¥￿d numk'r. ￿'Bis￿ra oJfic¢ and W￿¢1paI oific¢ wJdr¢55 li¥id on paBe S.
'I'hi' linJnLial.%lalimLnib k'Ln prL'parLyl a 8OIt)8 cOr￿¢M b&%i$ 85 1hL'I'ru￿¢￿ ￿11¢￿¢ Ihai ni) malLri81 uncLytsiniiL's
L'¥igl.'I'hL I'ruylLL% hd¥L' LIXI*l(kTh￿ I￿. ILILI of fund￿ hLld IhL eirThttYl I￿￿.￿1 ofinwnk. und l'x￿￿￿11urE li)r l ? mi)nih
I'rum iiuihi)ri%in¥ Ihi%L linuniial 51411L'min15."1"hi incoTh and ¥¥￿￿dI1￿r￿ is 5ufficiini wilh ihi lii'il of
i)I'ihi' l ¥us1 to k, ubl¥ 11> ￿ntIl)￿, a Boin¥ c1)nc￿¥￿.
All in¥i)In¥ is r¥%()BniKd gr1￿1. %viih(iul n¥lling off T¥lai¥xl l%)nwiuns. and ini'lslinini inUlTn¥ Jr¥
i(i¥nibL￿ ilhin ￿(￿ly￿￿J. 'I"wx rlfunds rLK¥iv¢)J undLr Bilk-aiJ ar& ihi inluming 111 whi¥h IhL?
.lalL' is fL*L'IVLxI. l.L%dllLS arL' fLKOBni%¢'d ￿.hLn IhL'I'rusl tLwmes uniondiiiiinall! LniiilLTrd li? rLXi'iIL IhL'm.
lirynl% lir¥ r¥%(l¥nli¥xl Ih¢"fTUSI ha% ￿￿11¢1￿￿¥￿I tsi lund¥. ani. jllx.lK￿ ￿￿OrmarK¥ ￿dIllon￿ ha￿¥
li is pri>b4ibli thai thi in¢omL will ￿. Ihl anKwni Lan h. nKasurcd rLliJbl%.
su￿.￿riptions repr￿¢nI arnounts r￿cI¥0bk r¢tsting to Ih¢ wcwuniing Frfr￿d. Tolls 4r¢ rwis¢d wh¢n r¢c¢iv¢d.
Mix)rin¥ fLKs. ¢i>nir4KI work. and 0ihLr similar inu>nK arL rLxwixyJ wk'n ihi Trus1 ￿KOmL5 ioniTdiiudllN
LniiilLThd lo IhL inLomL'. RLaliscd gains Qt Io55C5 are [L￿o8￿]rLd ii.hen inNcstn*nis are 501d and unre41isLThd 8ains
or Ioss¢b on inv¢$im¢nts ar¢ r¢co8ni5¢d ihrw8h ih¢ Siaiwn¢ni ofFiDa￿la1 Aai%iti¢5.
Expenditure is r&oBnisYd 4￿Ce there is a le8al OT LX)nsiruthi¥e obli8aiion kn make a pa%meni io a Ihird parti.. li is probJble
that *'iilLinLnl i%'ill IK. rLNuired and the anM*unl of the obliBatiDn can Ix t￿￿%￿rEd reliabli". l--NFKndilure is clLssified under
hLadings Ihal aggr¥gali all c0515 Kla1￿ 10 ihi cw¢w.%. Th￿. ¢¥clu& iim¢iK maiiYia15 bN' M¥in￿y5.
F.XPLndiiiirL vn lh￿n￿bI¥ dliiviiies in¢lude5 all rel￿ed 10 mainten￿￿ impTu%¥meni and regulthion ofihe eniire
Avon Navi8ation.
Suppurt Lusls ar< Ihub¥ Ihdl ￿1￿1 th¥ uvrk ufih¥ ihdrih" bul du nul di[￿11￿. tePT￿l £h￿tably ￿LI1￿111¥S dnd inilude
office casts. govemance ci>sls and administratile p￿. Toll co%t%."The)" are incurred di[￿111. in suptxirt ot'exFndilure
on th¢ objects of lh¢ charity.
R¢5varch gxpendilure Is l*ritt¥n off the Sithcmeni uf Findncial Aclilill￿th irt the ith which it 15 iniurted.
Idenlifriahle development ex￿ndit￿re is capitslised kn the extent that the t￿hnical. comJneTciai and financi￿ feisihility
can iK" dLYnonsiraied. Iniangibl¢ fix¢d assets amortIs￿ on a straighi line basis oieriheir exrttted useful lii'es and
pruvisiun is made fuT art)" imtyaitmerti. The ￿tseful liie5 of inLthyblc &%sets at¥ ￿ fulJow5".
Wtbsiie
5 l'ears

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
16
OTES TO THE FIN.4NC'IAL ST.4TEIIENTS
for th
mher 2024
ntiThu
l Accounlin
Policies
continutd
Tan
iblc fixcd assets
Tangihl¢ fix¢d ar¢ stated ai c￿1 (Jr valuwinn accumula*d ¢k[￿￿la110Th aThl accumula￿ impairn)ent
Cos1 InclU(k￿ Cfjsls dirLxilN attribuiablL 10 mak'ing i￿. aSiLI eapabli of opKYaiing as iniLndL41. tkpreciaiion is pro%'idth on
all I￿¥7ble lixed dssets. at raies ralculd*d to wrile otTEhe cost. Icss esi]ma￿ residu￿ valu< ofeach on a systemdlic
b&sis O￿tr ils ¢¥￿￿ed u£¢tul lil¢ as follo￿5..
Majur infr￿trUL1Ure iJnPTUI¢tt￿ll1S and major planl
MachinLrn' l..quipm¢DI
Workknais Til&
Moiur VLhiLIL
C.'ompLIILr l.'quipm¢ni
? 5(*A strai8hE line b&%is
I￿/0 wwghi lin¢ b&%is
? 5ty/o Slrai8hi linc b&sis
s￿shI linL bas'is
?5•/0 wwghi line b&%is
50/0 sirnighi linL basis
dotia
1X¥u¥￿ iinJ duTIUlid 8r¢ r¢cogTri5¢d on ih¢ balanc¢ shc¢r Ind iTrili811i' measw¢d ai pu￿h￿Stxl or if di)nul.d.
IhLir vuluaiiiin. A.4%il% ure bu￿￿4U¢nll%. sia*d ai CO￿ or %.alu￿100 le*% accumulaied derfftti*iiin and ac<umulaied
impdirmL'ni lug¥L's. Fuir valiiLs lur th)n&ed aSSL4s areLtslimtsiLhd rtfLYLYLLt to motk"LY pricl￿. IIuwLIL'r. infurmdliun
th¥ Li)yl ur Viiluuliun ul'hirild¥¥ I1￿15 i) nui availabl. w Ihl of proi'idiDg such info￿￿¢1￿￿ yi¥iiifiunil>' uutwii¥11s
k,nL'lii ￿ IhL' users of Ik, ￿COunt$ then heritage ore rK)t rwisedon Ihe balance shed.
li￿k ig vulU￿1 un a fir%1 in IiTsI oul bwsis al ih4' lOM￿or¢￿$1 ¢ilimJkxl *llin8 pri￿ ¢osts' and *.11.
Pri)vibii)n is madl. flir dumuBLYJ. ubsLi1¢￿ and 511)W•In￿.inB 5￿k 7Ah¢r¢ appropria￿.
l)u'bii)rb dnd iK,diii>rb with nc) inicrLS1 ralL' rL*Liiable or ￿*ble M'ithin one ytar8re T￿Ord￿ ¥Li iT8nsll¢iion price.
An>, l(l%Ki Jrisin¥ Irvm impairnKnl r¥wBnl￿d in
AssLls noi mL415U￿d ￿11 14iir %'alth for indiL&ion ihth IIK. mai" ￿. IMp￿11T￿ ai ￿Lh bu1￿¢￿ shiLY dale.
Il'%uLh indiLali(>n L￿161%. IhL fccovcTablE amouni ofthc &sscl is cslimBtcd and comwld io cJmin8 amount. Il'hLIL'
lh¢ ¢arTring amounl ¢¥c¢ed5 its r¢w*¢r4bl¢ aJJxwnL an impairw￿l 10s5 is T¢￿gnIS￿ in in￿￿Or ¢xr¢ndiiur¢.
The Trust is exempt from Ix)rwrdiion i&x on its charithble adi%'iiies.
Ilnre8tricled tund% can in accordartce w'ith the charitable obiedii'es Bl thedi5cretion of the Trustees.
D151gnaiid funds arb UN￿￿¢Ti¢l¢d funds carM￿k¢d M. Ihc for particular PUTW)8￿.
Restricted funds can onty ￿ed for wlicular restricted purw>se5 w[th￿ theobjects of the Tn￿1. Reslriclions ari5¢
hen sIKC1fiLxI ikn. dotxir or %4'hcn funds are rni5¢AJ for particular r&ar¢c*d purFKbS¢S.
Furthvr expl￿all￿n uf th¥ natur¢ dnd putp)tsc ofvaLh fund 15 inilu(kd irt the nolea lo the fIn￿lIa] 5LrtthLenLs.
"I'he"I"rust onl> has tinancial atjd liahilitief of a kind that qualifi" b&%ic fina[KI￿ instruments. 17]￿ 3]E initiallN'
reco￿15¢￿ ai iransaetion Tralu¢ and Subseq￿ni]i. mwuTtyJ ￿ (heir selllemeni i"alue.

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
OTES TO THE FIN.4NC'IAL ST.4TEIIENTS
for th
mher 2024
ntiThu
l Accounlin
Policies
continutd
In￿eStments
Th¢ inTre4tmenl% held &f fiK•J have b¢¢n ￿￿1￿¢d at mi&tnarket value at halanc¢ %h¢£t date and ihe g8in or I￿5
Ln io IhL siaiimLni ot financial aeii% iliLs. Currini assLI inii51minis arl inclitskd in ihi finanLial siaiemenis ai Iheir matk
value dt the Bdlance Sh<et dthe. AtL)' gain or loss. on rth'alU￿1On is taken ￿ the Str*tnenl uf Financi￿ Aciivilie&.
Credit is iakw a stTa¢ghi lin¢ basi5 over 10 from life subscripiions
sions
ThL Trugi okKTaIL￿ two definl￿ coniTibuiion Jknsion schemes forthe of its eMplo).Lt￿ Cthiiribuiions
¢xp¢n&¢d ay ihy pH)'abl¢.
2 St*ff L'ust
2024
202
dnd ￿lI￿lfiL
l.'mpli)y¥r's Nuiii)nul Insurunc
l)LlinLYJ Loniribuiiat) rLnsion costs
399.621
J9.892
19.602
38.1.?2.5
34.47X
18.y?i)
459.115
456.632
An ullÉKalii)n i)fih¥ slatTcos15 lh¢ Twsl is as follows..
Inlrusirii¥lur¥ iTnpn)v¥m¥nW%%orkkn* T¢furt>ishmthts
74.76fy
•8.498
168.40X
Admini%irdlil)n and Lu%k)mer yetrvice
R¥li¥l'li?¥k k-¥¥[￿r$
C'onirail work
Mdji)r works
Min()T works
9.4)4
27.057
-76.7115
459.115
43f>.632
"I'he &vera8e number of emploJYes¢xcludin8'1'ruslees durin8 the vear*&s'.
Adminisifdlion
LuslomLf seTrice
Op¥raiioNal
Thl mallagun¢ni ￿r$on￿lI of lh¢ Tru￿ (xmiprise lh¢ Twsiees and lh¢ Chi¢f E¥LYui¢i'i Offlctt. Thetoial ¢inploJ¢£
ben¢f115 uf th¥ k¢v mdnagen*ni &￿￿nn￿l ufih¥ Tru51 £122.529 ci>mpri5inB sal￿. £W.709. dllviianLYS £9.600.
honiis IX.014. pension cDnlrihulions £13.60612023- £116.2)I ￿t￿p￿sing ￿13Th. fX6.143. alk)￿anc￿ f9.600. Ix)nus £7.557.
pension coniribuiions E12.9211.
"I'he number of emplos'ees [￿elled knlal C￿p10?.￿ l)enefiL% lexcluding emploi.er tTh5ion costs) of more than £6(1.(XlO
is as follows..
£60.1101 ts) £7D.000
£IQO.(K)I lo £l10.(K)O

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
OTES TO THE FIN.4NC'IAL ST.4TEIIENTS
for th
mher 2024
ntiThu
3 Trusleey rcmuner￿t￿n
The ehariry's Tru￿tts w'ere Th)1 paid Th)r ￿el￿ed an). otherknkfiis frm emplo)Thenr wiihin iht Tn1￿120?3-£nIII.
Diiring the Ve￿ £nil reimbursed ￿ trus1￿. 1?02J-£nil}. Derails of pa)Thents made lu rel￿ed pthi¢s foT
prof¢%siDnal s¢Thic¢q during th¢ i'¢ar 8r¢ shniiTJ in 15 to th¢ financial
4 Atnount
id to.4uditor
202&1nde
tndcnt Ex4miner
21124
2023
Audiior's fLX
IndetK'ndenl Exuminers f¢
4.500
?.300
4.500
S Int
ibl Fiitd.4
H'¢h%ite
Total
Lust..
l .lanLlUry ?0?4
Additions
14.625
14.6?5
-1 I Ik,th'mk,r ?024
14.625
14.6?5
AmLinisuiion'.
11.7(K)
('hiir¥¥ liir th¥ y￿r
31 I￿,￿,M￿.r ?024
14.625
14.675
Nil Bwk ValuL'.
31 Ik.thm￿'r 2024
31 D¥'¥¥mk'r 2023
?.9!5
Il•¢hin¢Th W'orkbo•ts
rtehukl I￿rr￿sIT￿rI￿re ()tri¢e
nd
Cost..
l Janiiary ?1124
Addition
DISPL)￿15
316.812 1.I#Y.435
17&129
56¥.Yl I
524.122
34.991
43.352 7.64?.637
232.?31
31 DL'c&mb¢r 2024
310.812 IJ67.564
588.02
559.113
43.352 ? 874.863
l)eprecialian'.
l JanLiarJ 20!3
Chdr¥¢ Ivr th¢
l.'liiMintsed di%￿5￿1
160.055
32.110
3(K).023
23.734
190.530
11.tA7
10.730
3.885
661.338
71.382
31 [kLYM￿r 2024
192.171
323.757
202.177
14.615
732.720
Nvl BLN)k ValuE".
31 DeLErnbei 2024
316.812 1.175.J93
356.9J6
?8.737 2.147 143
31 [k.￿￿n￿r 2023
316.81?
1.0?9.380
268.888
333.59?
32.622 1.981.294
No depr¢ciaiion has ken pro￿lded in reskY¢I orrreeh)Id as (he T￿￿t¢S considttihe curreni markei value
Sub￿L￿ti￿1V in ex¢￿ of cusL The TTUSI hud nvcapilal cuttllnilnMJ15 di 31 202412023.. £NILI.

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
OTES TO THE FIN.4NC'IAL ST.4TEIIENTS
for th
mher 2024
ntiThu
2024
202J
7 1]Jveytments
Th¢ F.quIt1￿ Invt4im¢nl Futjd forLhariii¢s123.358 A￿Umul￿on Unityi
Cosl.. £b.7891?023 £6.4881
Mark¢t valu¢ at l Januar% ?024
DividLmds rLin￿L8￿mI
un￿lised ¥41itvilus¥1 inveslJ]￿nl
7.IM)7
301
6.762
366
Markd value at.31 December 2024
7.6.18
7.007
Trddi dibiors
PrL'pJ&IllLTJls und I￿rrU¢d
22.891
3.?$2
6.048
3.468
?6.143
9.51
Y I'urrenl.lssti In¥esimenrs
hcirt.'ILrm l)LlX)bll
390.?40
176.7.37
'I'rthL' LfL¥dilurs
SL)Lltil yilurii) and oth¥r
AILruults an(1 dLliYrL%J inconx.
Pu%mL'ni% un dLLuunl
()Ih¥r Lr¢diwiTi
21.633
J6.173
29.800
92.940
8.035
45.090
38.375
85.1.10
1.795
197.hg11
?4.IKIII
'I'rud¥ Cr￿l￿rb inLlu&' uBgTiBIIIL amounls of£12.(KK)120Y3- E15.(Wl which fall duL aftir fi￿¥ and arb pavahli b%. uiinual
inslalmi'ni%. N() inii'rL￿l is pavable Iheye amounts.
Ai
Ilnre%trlcled b'unili
520
2.329.869 1.043.qXb 1 889.063 1
? 33U.3¥9
I.¢)43.9￿ l 88g.tKi3 1
1.430
80
330
850
?.484.706
?.4115.5Sfy
1.350
Life members SuhscriptiDn bur￿ (Note 121
?331.8ly
l.U43.Y(Kl 1 889.143 K
330
?.4116.906
Rc5tri¢ted
l)avid Iliilching% M<tnorial Fund
SWII'T Cilinsion Projixl
Nvpiun
I..￿e￿har￿ LockhDufe
Wh¢¢ly Boat
8.477
7.J84
31.9?2
14.975
20.(XMJ
%.477
7.484
31.027
2N.748
19.7?2
895 1
??7 1
?78 1
15.0(Ml I
82.8511
I5.0￿
2.4¢K) I
95,45%
?414.677
I.05&￿ I 891.543 1
330
2,582.364

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
20
OTES TO THE FIN.4NC'IAL ST.4TEIIENTS
for th
mher 2024
ntiThu
es uf Ik Reyiricled Funds
David Hulchings M¢tnorial Fund..
This donwM)n is to pro%id¢a m¢ttwia] ￿ David Hutcliings.
While Water Proj<cl'.
This covers from M)"cha%on Distria Council foT the Whik Water Pn)jecl.
SWIIT Exitnsion Project-.
Following frimi iheamalgamaiion of Ihe Siraiford and W'arnick walcr￿,0).S TrusL
funds 01-s￿'11,T transfetred lo ANT Jnd held furihe sole use uf
pr(xwing atml lacilitaiing Ih¢eYi¢nsion nt'iiai"igaiion tn)m Alv¢*on 10 W'anvick.
Neptune..
This fund is furtlK refurbish1￿11 of the vessYl'Nepiune'.
E￿LshaM LockhousL':
This fund is for1￿ E&esham ￿￿￿hOuSe re￿)1￿1{>￿ projLL4.
Wh¢tly Boat..
This tund is forik provisi￿ of a fullj whee1¢hair-acckn￿iblt Self￿TIve hir¢ boai.
21124
2ts2
12 l.lf ￿leMber¥ subseri
Fund
IlalwiLe ai l Januar), 2(J74
iibsLfipiions fL*L'iveil
C'hur¥¥ lur thi
1.4.10
300
3801
410 1
Rllltsn¢¢ ui 31 tk'LLmb¢r ?024
1.350
1.430
JJft 4ltrnbfr
IINiricitd %uhKriptiun I Thr¢￿trIct
2V24
Tan¥ibli fi¥id
In￿L￿lMLnLg
C'uTr¥ni gbKIs
79.497
2.062.646 ? 14? 14.3
7.638
7.0.38
h28.453
04S.7h4
15.901
1.3SO
LrL'diior% duL' ati¢r more than one year
?4.UiX)11
TutAI Nei AyJets
95.458
-350 7 485.556
? $8? 164
14R
tinfund i
hllowf
ralin
2024
2023
Nvl mvi¥m¢ni in funds
l)iN idends receii'ed
167.687
126.153
136hl
18.0491
?.925
63.995
14.5421
114.6571
2.925
71.3112
AmuTli￿11un vf inidn¥ibl¢ fix¢d &￿ets
l)eprecialian al'langible lix&4
(Profiil on disp)sal of iangiblt fixd a5S¢ts
Gdin vn investments
Decre&se in sl()ck
Illlcr¢as¢l in debtor5
(D¥￿￿) in iiedilor5
(3301
1.7x3
116.6271
1.998
72.600
Net cash flow from otLThing ￿li,111¢S
2￿.355
253.828

Al"()N ￿..1￿.7(.,1Tj()￿ TRI"ST
OTES TO THE FIN.4NC'IAL ST.4TEIIENTS
for th
mher 2024
ntiThu
l i Related Pa
DiscI(Yaure5
The Trusi has a close working relationship Miih The tAN'er Al'on Navi￿￿ Tft￿ Limitr411'LANfi. The balanc£ owing
by LANT al 31 tkcetnLYr 2024 was £nil1202J- £nill.
Lynne Young (also k'no￿￿ &8 LJnn¢ Powtlll is a dirttthr has faiihfulls setied ihe Trust for many %ears. Li'nne also wri￿,
designs pruduLe5 bulletin5 other Publi￿Ll0nS fur the TTUSI. IT￿Ing c￿cial PR. Durin¥ the ￿r)L￿1 she direLiUr.
.Eh¢ suppli¢d £uch setvic£s io Ih¢"I"rusi amowiting io £Y.04? {l(J? j-£7.Ylll l. Th¢ ii'¢re aL or beller than nDrmal mark
valuL and no monits wereowing kn)cr￿ClaI PR ai Ihe balantt d8*. The of cha￿5 by Crucial PR rel￿t
ts) piibliLil%' tnateTidls.
16 C'om
ritiit Amouthi$ for tht St*iemebTri of Fith*nti#l.4tlll'iiit$
'I'hL Illtal lundts %hown lor ?023 in Iht Ststrmeni ot"l.'inanc1￿ Aaiiiiies ar¢ splii unrestyicknj ar
rL'sifiLILxl fiinds ￿ tollows..
I nresiri¢ied ReJtri¢ted
nds
Total
bunds
l)unutiuns. l¥gaLiis und subsL'riplion5
In￿651mLni inconK'
25.092
8.415
35.(>(K)
60.092
8.415
MdinKindnLL'. impri)WL'nk'ni and rL'gulaiion of1￿ Alon Navigation
755.79?
755.792
41.413
41.413
830.712
33.0
805.712
Maini¢nJn¥i. impri)￿l￿nI anil rKgulHlioo ofih¢ Alon Navi8g1ion
486.921
920
487.841
upp(>rt ond Bovernrtnce costs
251.187
251.1#7
TutAI tx
ndiiurt
738.108
920
739.028
92.6U4
34.D8U
126.6#4
Un￿lISed(lO55I on invesimeni
Mov¢m¢nl in life m¢mb¢rs sub5cripiion fuThJ
410 1
410 1
nt in fundy for th
92.073
34.D8U
126.153
Rcroncilimtivth (Trf fund5
"lolal lund balance% hrou£ht ton?ard at i Januari" 2023
?.239.746
48.778 2.211X.524
Tutal fund buluthres c#rried forv4ird at 31 Dt(cmbtr 2023
2.331.819
82.858 2.414.677
All illLLTrme expenditure d¢TiV¢ frum cunlinuin¥ ￿1]i"llIes.
"I'he 8tat¢m¢nt ot'fin￿Clal actil'ities includes all wns 3nd10sses reci>Bnised in the)rar.

AI'ON YAI'IGATION TRI'ST
22
OILS JO I Tr"IN.4NCIAL *T.4T£ItE.%TS
20
C'h*rilablt
ChAiitsbl¢
Incom
tknMtb)n5. l¢¥acKs. 47￿￿￿8￿1
15.¢MX)
Tolls (Registra￿0￿ ftcsl
m(￿ring rrt
58l.NS
$8lJ15
17470
496.*?4
17.370
CaNI and RwcrTI
4(KJ
?34.776
}￿.539
330.539
234.776
Incorn¢
ETreiham Ilidio
Rent le¢¢1va￿t
SalrofiiuJl ￿d5A￿
14.958
8.415
9%7
•8.058
1?.8
*8.058
?5.96b
988.￿$
70.89$ 1ffj58.
815ts84
49.8?8
upport
C-h4rllAbltr (pii%rrrt*tht¢
236.1?4
168.469
401.￿5
215hJ6
57.783
361.86h
37.783
3.hsh
3.056
15.768
PnTrpertv Illullsi¥em&ntAYxl
3th.934
?9ffi31
V¢hiil< IinJ ￿￿1¢￿penI¢S
30.750
74.307
74.307
14.$4•
(JlTrNL[iifinc¢c￿1￿ A¢CnUnWKv4Th1￿If
Rentvfl
"r¢1¢phE￿
Prinlin¥. Ilaliontry awj
Bunk ¢h#r¥
LiTrnipul¢r ekpetLye
WRlcrAnd WA51¢¢dl¢<tion
Siiiklr) ex[￿￿$
Chai¥cs#nd5ub5¢1i￿I(rtl
H¢4111i S￿1¢1Y
14.387
7.44M)
?.4
15.4b7
9.2.10
13.880
12.fg)3
14 894
4.5)7
9.45•
3.?55
4.545
404
3.807
Bad ilrbts
(2.lY41)
¢X￿￿¢S{l￿1 rnow¢fjl
61S.7V.
275.091
891.463
487.￿1
7J9.Tr*8

AI'ON YAI'IGATION TRI'ST
23
OILS JO I ACCOI'%T
l ThrtstrKted Re5trKttd
2013
.4- Ih)n
Gordon Giay Tyusi
AHths
Brinaid Slin￿. Ch&nLibk FoUnth￿
The %a¢kL¢rTiusl
ComTnuniN. Lc¥arvGr3llt- LLKkhL
10.¢Mx)
10.th)
15.rKM)
10.1
15.(
10.ikn)
15.W)
15.(
?.6
D Mansfic￿l
While Water- w)¢￿v￿ DistrKt¢owil
10.(w)
15.[
10.(wJ
(iartield Wesinn
Pcltr Hainson Foundati
M15cellAIl¢OiisdoilaliOnSAtyJ Siib*npity)
4.594
4.594
15JArf
60.￿?
71.4
457.0th)
48.769
3.496
IriY4t¢ Crpfi
1256
Wini¢r Iic¢nces t15￿n8 1￿cl￿<s
2.767
3.035
1111Ere51 ￿¢1vEd
(Xhu Iniutment Imime
X.P49
366
14958
-%tietLiknm I.￿k 110￿e
15.058
25.
Major w4)rk5 IIThr l(Kk5 th naTri¥all￿ wotksl
Ih.3E6
0.979
30.78?
I'iaikrs and rnower5
M1nvl Wurks Iiem