Charity reglstration number 245875 Company registration numbgr 01069860 (England and Wales) SHROPSHIRE UNION CANAL SOCIETY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
SHROPSHIRE UNION CANAL SOCIETY LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr D J Carter (Chair) Mr l F H Hendley Mrs S Ball Mr S G Clews Mr R D Feeney Mr T Fulda Mr C J H8sketh Mr P G Tolster Mrs B Cowie Mr C A Robertson (Appointed 29 May 2024) Secretary Mrs S Ball Charity number 245875 Company number 01089860 Registered office Morris Cook Bryn Estyn East street Llangollen Denbighshire LL20 8RB Independent examlner Andrew Clarke FCA Morris Cook 6 Salop Road Oswestry Shropshire SY112NU
SHROPSHIRE UNION CANAL SOCIETY LIMITED CONTENTS Page Trustees, Report report Independent examiner's report Statement of financial activities BalanTr sheet Notes to the financial statements 8-1g
SHROPSHIRE UNION CANAL SOCIETY LIMITED TRUSTEES. REPORT REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financlal statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing documenti, the Companies Act 2006 and "Accounling and Reporting by Charities.. Stat8m8nt of Recommended Practice applicable lo charitl8s pr8paring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective l January 2019). Objectlves and actlvltles The Society is committed to ensuring that the Shropshire Union Canal neIork, covering th8 Llangollen and Montgomery Canals as well as the Shropshire Union Canal itself including the Middlewich Branch, is maintained and enhanced for the benefit of all users and visitors. We seek to influence and encourage the Canal and River Trust to direct it5 efforts to the benefit of all users through the maintenance and extension of facilities such as towpaths, visitor moorings, seats and picnic tables throughout the Shropshire Union Canal network. The Society has continued to b8 involv8d with and to support a numb8r of sister organisations within our geographical area of activty. We are actively commilted to the restoration of the Montgomery Canal with particular interest on the 'Shropshire Gap. rewatering to reconnect the entire system. Putsl benefit The trustees have paid due regard to guidance issued by the Charity Commission in d8ciding what activities the charity should undertake. Achievements and performance SignifKant activities and achievements against objectives SUCS restoration works have been focused on the Crickheath South project, extending the watered Cnn81 from Crickheath Bridge to the renewed Schoolhouse Bridge and to restore Crickheath Wh8rf itself. Progress is excellent despite the weather difficulties. More detail of what restoration has been achieved can be found on our website shro shireunion.or .uklcate Iworknart with regular postings published throughout social media. The programme of wider ranging activities including organising walks and tours of the lengths of the Montgomery Canal continues whilst the maintenance and enhancement works in the Ellesmere area are being d8V81oped further. These latter activities, improving the local environment and carried out in conjunction with the Canal and River Trust suit members who wish to volunteer but seek lighter activity than the heavier restoration work. They also reflect the growing need for voluntary assistance to support CRT who face an increasing18v81 of d8mand from an aging asset and increased visitor numbers together falling income. The Society would be delighted to extend its activities farther to include more of the Shropshire Union system and welcomes approaches from individuals or groups for projects in their local area.
SHROPSHIRE UNION CANAL SOCIETY LIMITED TRUSTEES. REPORT REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review Overall, the Society has had a positive year financially. The great majority of funds are deposited in accounts paying SO plus, although there was a 1.8 /0 decline in the capital value of Charifund. For 2023124 the funding support both for restoratlon and enhancement works has been obtained from a variety of sources, intemal, CRT, together with third-paty grants and donations. The Society has been an active participant in the Restore group of canal centred organisations, whose primary focus with the opening of Schoolhouse Bridge has now switched to funding work on the canal channel from Crickheath to Llanymynech. The group gave considerable support to the CRT application for Rural Prosperity Funding, resulting in a grant of £250k, for 375m of restoration. This grant, held and administered by CRT includes a commitment for 300kn match funding payable in early 2025, of which £37.5k is from SUCS, continuing our policy of using our reserves to leverage funding from elsewhere. The Society thanks all contributors to funding our activities throughout the year, wilh grants from Peoples Postcode Lottery, Association of Industrial Archeology, Tesco and The Co Op together with several considerable donations and legacies including an on going contribution from Monty's Brewery This y8ar the Society's accounts show a surplus of £40,380. However the future funding outlook is more challenging, in an austere climate with funders focusiro on social issues including deprivation, discrimination and exploitation. The memorandum gives the trustees pow8rs to invest or deal in th8 funds of the Society, not immediately requir8d for its purposes, in such manner as in the discretion ofthe Society may be determined. Reserves The Operating Reserve created in 2012 to cover 2 years activity has been reviewed to include changes to both the Society's activities and costs. This designation is in addition to such reserves as they consider necessary to meet forthcomlng obligations and commitments.. Capitsl Projects Society Operating Costs Training Total Reserve: £31,000 £ 8,000 £44,000 Inveslments The charty operates a low risk investment policy to safeguard its cash holdings. Council has decided to exit the M& G Charifund at an advantageous market point. Risks The Trustees have identified the major risks to which the Charity is exposed. A formal Health and Safety Policy document has been approved. The risks and policy are regularly reviewed and action taken to mitigate exposure and revise the policy. In addition, the Trustees are careful to provide adequate insurance cover for both public and employees (volunteers} liabilities. Grants Grants are only made towards projects on the Shropshire Union System of Canals as specified in the Articles of Association. The Trustees generally seek to make grants to generate further funding, whether this is to release funds available from other agencies or as an incentive to encourage grants from other sources. Rgs&rves policy It is the policy of th8 charity Ihat unr8Stricted funds which have not been designated for a specific use should be maintsined at a level in excess of 12 months expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which addits-onal funds may be raised. This level of reserves has been maintained throughout the year.
SHROPSHIRE UNION CANAL SOCIETY LIMITED TRUSTEES, REPORT REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure. governance and management The charity is controlled by its governing document, a memorandum of agreement and articles of association and constitLrtes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Society is registered as a Charity no. 245875 and is a company limited by guarantee, registered in England and Wales number 1069860. The governing document is a memorandum and articles of association., all attribLrtable activities of the Society are approved by a Council whose members ITrustees}, listed at item 1 above, are identified by their interest, life and career skills. They are appointed by nomination at the A.G.M., or can be co-opted by Council during the year and their initial introduction utilises the Charities Commission leaflet CC3. Where appropriate, specialist training (Skill AreditatiOn, Health and Safety, First Aid) is provided for those taking part in Society activities. The registered office is located with our Accountants.. Bryn Eslyn, East Street. Llangollen, LL20 8RG. The Charity's bankers are the National Westminster Bank plc. The bulk of the society's funds are held with The CCLA Investment Management Limited The COIF Charities Deposit Fund and M&G's Equities Investment Fund for Charities - Charifund and United Trust Bank Base Rate tracker. The trustees. who are also the directors for the purpose of company law, and who served during theyear and up to the date of signature of the financial statements were- Mr D J Carter {Chair) Mr l F H Hendley Mrs S Ball Mr S G Clews Mr R D Feen8y Mr T Fulda Mr C J Hesketh Mr P G Tolster Mrs B Cowie Mr C A Robertson (Appointed 29 May 2024) ReGwitment and appointment of trustees The company's current policy concerning the payment of trade creditors is to follow the CBI'S Prorrpt Payers Code (copies are available frorn the CBI, Centre Point, 103 New Oxford Street, London WC1 A 1 DU). The company's current policy concerning the payment of trade creditors is to.. settle the terms of payment with suppliers when agreeing the terms of each transaction., • ensure that suppliers are made aware of the terms of payment by indusion of the relevant terms in contracts., and pay in accordance with the company's contractual and other legal obligations. Trade creditors of the company at the year end were equivalent to 13 day's purchases, based on the average daily amount invoiced by suppliers during the year. The Trustees, report report was approved by the Board of Trustees. Mr C A Robertson 30 July 2024
SHROPSHIRE UNION CANAL SOCIETY LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHROPSHIRE UNION CANAL SOCIETY LIMITED I report to the trustees on my examination of the financial statements of Shropshire Union Canal Society Limited (the charity) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Ihe Companies Act 20C6 (the 2006 Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examlnerfs statement I hav8 completed my examination. I confirm that no matters have come to my attention in connection wlth the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of Ihe 2008 Act., or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK arKI Republic of Ireland {FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Andrew Clarke FCA Morris Cook 6 Salop Road Oswestry Shropshi SY112NU Dated.. 17 September 2024
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SHROPSHIRE UNION CANAL SOCIETY LIMITED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 16 17 191 87,356 88,981 87,547 88,981 Current assets Debtors Cash at bank and in hand 18 14,690 248,487 1,868 219,279 263,177 221,147 Creditors: amounts falllng due within one year 19 {2,556) (2,340) Net current assets 260,621 218,807 Total assets less current Ilabllltles 348,168 307,788 Creditors: amounts falllng due after more than one year 20 {11,300) {11.300) Net assets 336,868 296.488 The funds of the charlty Restricted income funds Unrestricted funds - general Unrestricted funds- designated 21 23 22 164,370 65,998 106,500 33,870 61,618 201.000 336,868 296,488 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Ad 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial ststements were approved by the trustees on 30 July 2024 Mr C A Robertson Company registration number 01069860 (England and Wales)
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles Charlty information Shropshire Union Canal Society Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Morris Cook, Bryn Estyn, East Street, Llangollen, Denbighshire, LL20 8RB. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the charitys Igoverning document], the Companies Act 20, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" {°FRS 102.) and the Charities SORP "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effectlV8 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statanent of Cash Flow8. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen for the foreseeable futur8. Thus the trLtstees continue to adopt the going concem basis of accounting in prep8ring the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the r8Stricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any perfomance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribLrtion, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Grants are accounted for on an accruals basis. Annual subscriptions are recognised when received. Life Membership subscriptions received are carried forward and the income is recognised in the staement of financial activities upon the death of the member.
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Expendlture Expenditure is recognised once there is a legal or Gonstructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in setuement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributab18 to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure, 1.6 Tanglble flxed assets Tangible fixed ass8ts are initially measured at cost and subsequently measured at Cost or valuation, net of depreciation and any impairment losses. Depreciation is r8cognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment 200k on cost The gain or loss arising on the disposal of an asset is detemiined as the difference beeen the sale proceeds and the carrying value of th8 asset, and is recognised in the statement of financial activities. 1.7 Flxed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel{expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairn*nt of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffer8d an impairment loss. If any such indrAtion exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within bOowing8 in current liabilities. 1.10 Flnanclal Instruments The charity has elected to apply the provisions of S8Ction 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instwment. Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continued) Baslc financial 8ssets Basic financial assets, which include debtors and cash and bank balances, are Initially measured at transaction pri including transaction costs and are subsequently carried at amortised cost using the effective interest m8thod unless the arrangement constitutes a financing transacb"on, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial Ilabllltles Basic financi81 liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities dassified as payable within on8 year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations *rom suppliers. Amounts payable are classified as current liabilities if payment Is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's Contractual obligations expire or are discharged or cantslled. 1.11 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Critical accountlng estlmates and Judgem8nts In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where th8 revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. 10-
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SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities Unrestricted Un restricted funds funds 2024 2023 Charitable trading Sale of goods 52,163 Incorne from other tradlng actlvities Unrestrlcted Unrestricted funds funds designated designated 2024 2023 Fundraising events Cuttings-Advertising Sales of used stamps Recycling 68 842 225 18 842 791 70 Other trading activities 1,153 1,703 Income from investments Unrestricted Unrestrfcted funds funds designated designated 2024 2023 Income from listed investments Interest receivable 5,159 6,317 7,166 11,476 7,166 12-
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds Unrestrlcted Unrestrlcted funds funds 2024 2023 Fundralslng and publlclty Advertising Other fundraising costs 58 104 80 60 182 140 Trading costs other trading activities 3,982 4,194 Total costs 4,124 4,334 13-
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charitable activities Charitable trading 2024 CharfLible tradlng 2023 Dlrect costs Depreciation and impairm8nt Construction machine hire Other machine hire Construction Materials Restoration small consumables Toi181 Hire Fuel for machines Enhancement costs other welfare costs PPE Input VAT reclaimed 69 10,647 240 31,588 803 1,430 1,113 271 2,418 301 (2,433) 46,447 Grant funding of activities {see note 9) 75,332 Share of support and governance costs {see note 10) Support Govemance 10.722 11,973 2,320 2,340 69,142 79.992 Analysls by fund Unrestricted funds - general Restricted funds 69,142 24,311 55,681 69,142 79,992 Grants payable Charltsble trading 2023 Grants to institutions.. Crickheath HLF Phase Travel Expenses Crickheath South 55,681 8,652 10,999 75,332 14-
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Support costs allocated to activities 2024 2023 Plant maintenance Bank charges Insurance Volunteer training Post and stationery Society general expenses Sage fees Repairs and renewals Govemance costs 305 45 2.321 6,132 69 133 234 1,483 11,973 90 60 566 1,570 2,340 22,e95 4,660 Anatysed between: Charitable trading 22,695 4,660 11 Net movement In funds 2024 2023 The net movement in funds is stated after chargingl(crediting)- Depreciation of owned tsngible fixed assets 69 12 Trust888 None of the trustees (or any persons connected with Ihem) received any remuneration or beneffts from the charity during the year. During the y8ar 6 trustees were reimbursed for travel at a total of £Nil (2023, £4,063) and no trustee was reimbursed for General Expenses (2023. none). 13 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. 15-
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Gains and losses on investments Unrestrlcted Unrestricted fund5 funds designated designated 2024 2023 Galnsl(losses} arising on.. Revaluation of investments (1,625) (5.792) 16 Taxation The charity is exempt from taxation Dn its activities because all its income is applied for charitable purposes. 16 Tangible fixed assets Plant and equipment Cost At 1 Aprll 2023 Additions 12,427 260 At 31 March 2024 12,687 Depreciation and Impalrment At 1 April 2023 Depreciation charged in the year 12,427 69 At 31 March 2024 12,496 Carrying amount At 31 March 2024 191 17 Fixed asset investments Llsted investments Cost or valuatlon At 1 April 2023 Valuation changes 88,981 {1,625} At 31 March 2024 87,356 Carrying amount At 31 March 2024 87,356 At 31 March 2023 88,981 16-
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Fixed asset investments (Continued Original cost of investment in the 31 March 2021 year was £80,000. 18 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 14,690 710 1,158 14,690 1,868 19 Creditors: amounts falllng due wlthln one year 2024 2023 Other creditors Accruals and deferred income 56 2,500 2,340 2,556 2,340 20 Creditors: amounts falling due after more than one year 2024 2023 Other creditors 11,300 11,300 21 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 Aprll 2023 Incomlng resources Resources expended Transfers At 31 March 2024 33,870 13,159 117,341 164,370 Prevlous year. At 1 Aprfl 2022 Incoming resources Resources expended Transfers At 31 March 2023 32.370 57,181 (55,681) 33,870 17-
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Unrestricted funds - designated These are unrestricted funds which are materi81 to the charlty's activities. At 1 April 2023 Incoming resources Transfers Gains and At 31 March losses 2024 201,000 12,629 (105,504} (1,625) 106,500 Previous year: At 1 Aprfl 2022 Incoming resources Transfers Galns and At 31 March losses 2023 176,000 30,792 (5,792) 201,000 23 Unrestrfcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incomlng resources Resources expended Transfers At 31 March 2024 General funds 61,618 89,483 (73,266) (11,837) 65,998 Prevlous year.. At 1 Aprll 2022 Incoming resources Resources expended Transfers At 31 March 2023 General funds 51,609 38,654 (28,645) 61,618 24 Analysis of net assets between funds Unrestrlcted Unre8trict8d funds funds general deslgnated 2024 2024 Restrlcted funds Total 2024 2024 At 31 March 2024: Tangible asseis Investments Current assetsl(liabilitiesl Long temi liabilities 191 191 87,356 260,621 (11,300) 87,356 19,144 77,107 (11,300) 164,370 65,998 106,500 164,370 338,868 18-
SHROPSHIRE UNION CANAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Analysls of net assets between funds IContinu8dl Unrestricted Unrestrlcted funds funds general deslgnated 2023 2023 Restrlcted funds Total 2023 2023 At 31 March 2023: Investments Current assetsl(liabilities) Long term liabilities 54,996 17,922 (11,300) 33,985 167,015 88,981 218,807 (11,300) 33.870 61,618 201.000 33,870 296,488 25 Capital commitments Amounts contracted for but not provided in the financial statements.. Designated funds represent funds set aside for the Society's operating reserve, future Montgomery Canal reserve and other Society expenditure- 2024 2023 Authorised but not contracted for. Crickh8ath South Operating Reserve (see Page 2) Authorised and contraded for: Crickheath South Canal & River Trust match funding 132,000 44,000 44,000 25,000 25,000 Totals: 106,500 201,000 Restricted Funds comprise the unexpended elements of grants and donations received for specific purposes c forward against future expenditur8= 2024 2023 Authorised but not contracted for. Crickheath South 132,000 Montgomery Slipway (Powys CC) 2,500 J Faulkner Legacy (Montgomery Canal) 29,870 Oswestry Rural Parish Council (Crickheath Towpath) Totals: 2.500 29,870 1,500 33,870 164370 26 Related party transactions There were no disclosable related paty transactions during the year (2023 - none). 19-