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2025-03-31-accounts

Charity registration number 245875 (England and Wales)

Company registration number 01069860

SHROPSHIRE UNION CANAL SOCIETY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

SHROPSHIRE UNION CANAL SOCIETY LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr. D J Carter (Chair) Mrs. S Ball Mr. S Clews Mr. R D Feeney Mr. T Fulda Mr. C J Hesketh Mr. P G Tolster Mrs. B Cowie (Appointed 29th May 2024) Mr. CA Robertson Mr. G Harris (Appointed 24th January 2025) Secretary Mrs. S Ball Charity number (England and Wales) 245875 Company number 01069860 Registered office Morris Cook Bryn Estyn East Street Llangollen Denbighshire LL20 8RB Independent examiner Samantha Jones F.C.C.A., A.C.A 6 Salop Road Oswestry Shropshire SY11 2NU

SHROPSHIRE UNION CANAL SOCIETY LIMITED

CONTENTS

Page
Trustees' Report 1-4
Independent examiner's report 5
Statement of financial activities 6-7
Balance sheet 8
Notes to the financial statements 9-20

SHROPSHIRE UNION CANAL SOCIETY LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31st March 2025.

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 document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

The Society is committed to ensuring that the Shropshire Union Canal network, covering the 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, visitors and the environment. We seek to influence, encourage and support the Canal and River Trust in its work on the network for the benefit of all users through the maintenance, improvement and extension of structures and facilities such as towpaths, access, visitor moorings and the overall environment throughout the Shropshire Union Canal network. The Society has continued to be involved with other organisations within our geographical area of activity.

We are actively committed to the restoration of the Montgomery Canal with particular focus on the "Shropshire Gap" rewatering to reconnect the entire system, in association with the Restore Appeal. The Crickheath South Phase 1 has been the major project of the year.

The enhancement activities are now established with a core group of volunteers working in close cooperation with CRT.

Achievements and performance

SUCS restoration works have been focused on the Crickheath South project, extending the rewatered channel from Crickheath Bridge to the renewed Schoolhouse Bridge. Crickheath Wharf itself has been fully restored and the channel rewatered for 360m. Progress is excellent with the team of volunteers producing a professional standard of work using improved practices giving greater efficiency both operationally and financially. The Rural Prosperity Fund CHS Phase 1 was completed on time and with additional channel using volunteers combined with CRT technical support to fully utilise the grant budget. More details of what restoration has been achieved can be found on our website www.shropshireunion.org.uk/restoration with regular postings published throughout social media.

The program of wider ranging activities including attending various canal related events, organising walks and tours of lengths of the system has continued and planning is progressing for the Society's 60th Jubilee events next year.

The maintenance and enhancement work team in the Ellesmere area have produced significant improvements to the local structures and the environment. These latter activities, carried out in close cooperation with the Canal and River Trust suit members who wish to volunteer but seek lighter activity than the heavier restoration work. CRT have similar groups operating over the SU network with the volunteers giving support to the free to access aging asset in the financially difficult situation. So, there are opportunities for all!

Public Benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

SHROPSHIRE UNION CANAL SOCIETY LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Financial review

For 2024/25 the Society's funding support continued to be obtained from a variety of sources, primarily the Rural Prosperity Fund(RPF) via CRT, which was financially neutral for capital spend together with internal funds, third-party grants, legacies and donations. The Society has continued to be an active participant in the Restore group of canal centred organisations, whose primary focus is now on securing funding to close the "Shropshire Gap". The RPF project was completed in March 2025 and the 30% match funding (£76,123) made, on a 50/50 basis by SUCS and Restore, continuing our policy of using our reserves to leverage funding from elsewhere.

The Society thanks all contributors to funding our activities throughout the year, with grants from Oswestry RPC, Tesco, Coop and Freedom Fibre, together with donations, some considerable, including an ongoing contribution from Monty's Brewery. The Society also received a very generous legacy of £25,000 during the year.

This year the Society's accounts show a surplus of £37,916.

Society costs to provide our fully trained and equipped volunteers on all sites were £28,000 plus, leaving a surplus from all income excluding grants and legacies of £13,000, showing how essential these are. These overhead costs are not generally covered by grants. Various funding sources are being pursued.

The memorandum gives the trustees powers to invest or deal in the funds of the Society, not immediately required for its purposes, in such manner as in the discretion of the Society may be determined . The majority of our reserves are held in accounts paying close to Base Rate interest.

Reserves policy and level

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained 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 additional funds may be raised. This level of reserves has been maintained throughout the year.

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 forthcoming obligations and commitments:

Capital Projects £31,000
Operating Costs £ 8,000
Training £ 5,000
Total Reserve: £44,000

Investments

The charity operates a low-risk investment policy to safeguard its cash holdings. The Council, having decided to exit the M& G Charifund, did so this year at an advantageous market point and has reinvested it in a safer environment generating a healthy interest.

Risks

The Trustees have identified the major risks to which the Charity is exposed, both operational and financial. 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. The major item was the RPF match funding. A grant was made to the George W Buck trip boat for maintenance works.

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SHROPSHIRE UNION CANAL SOCIETY LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management.

The charity is controlled by its governing document, a memorandum of agreement and articles of association and constitutes 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 attributable activities of the Society are approved by a Council whose members (Trustees), 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, serving until the next A.G.M. Their initial introduction utilises the Charities Commission leaflet CC3. Where appropriate, specialist training (Skill Accreditation, Health and Safety, First Aid) is provided for those taking part in Society activities. All Trustees are subject to re-election on a rolling 3 year basis.

The registered office is located with our Accountants: Bryn Estyn, East Street, Llangollen, LL20 8RG. The Charity's bankers are the National Westminster Bank pie.

The bulk of the society's funds are held with The CCLA Investment Management Limited in The COIF Charities Deposit Fund and United Trust Bank Base Rate tracker .

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Name Appointed Resigned Mr. D J Carter 06.11.2010 Mr. I F H Hendley 16.11.2002 30.211.2024 Mrs. S Ball 09.09.2022 Mr. S Clews 21.01.2022 Mr. R D Feeney 16.11.2019 Mr. T Fulda 12.05.2021 Mr. C J Hesketh 01.12.2021 Mr. P G Tolster 11.03.2014 Mrs. B Cowie 29.05.2024 Mr.CA Robertson 19.01.2016 Mr. G Harris 24.01.2025

Statement of Trustee Responsibilities

The Trustees (who are also the directors of Shropshire Union Canal Society Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair overview of the charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing those financial statements. the Trustees are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP; make judgments and estimates that are reasonable and prudent; prepare financial statements on the ongoing concern basis, unless it is inappropriate to presume the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The company's current policy concerning the payment of trade creditors is to follow the CBl's Prompt Payers Code (copies are available from CBI, Centre Point, 103 New Oxford Street, London. WC1A 1DU) which is to: -

The Trustees' report was approved by the Board ofTrustees

Mr C A Robertson che jonen tees

Date: ..15.08.2025.....................

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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 2025.

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 the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Samantha Jones F.C.C.A., A.C.A

6 Salop Road Oswestry

Shropshire

25.07.2025

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SHROPSHIRE UNION CANAL SOCIETY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted Restricted Total Unrestricted Unrestricted Restricted Total
funds funds funds funds funds funds
general designated general designated
2025 2025 2025 2025 2024 2024 2024 2024
Notes £ £ £ £ £ £ £ £
Income from:
Donations and legacies 3 49,558 26,500 76,058 37,320 13,159 50,479
Charitable activities 4 96,511 4,051 100,562 52,163 52,163
Other trading activities 5 1,374 1,374 1,153 1,153
Investments 6 12,439 12,439 11,476 11,476
Total income 146,069 17,864 26,500 190,433 89,483 12,629 13,159 115,271
Expenditure on:
Raising funds
Fundraising and publicity 7 380 380 162 162
Trading costs 7 4,220 4,220 3,962 3,962
4,600 4,600 4,124 4,124
Charitable activities
Charitable trading 8 112,950 38,063 151,013 69,142 69,142
Non Designated Grants 8 1,000 1,000
Total charitable expenditure 113,950 38,063 152,013 69,142 69,142
Total expenditure 118,550 38,063 156,613 73,266 73,266
--- ---
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SHROPSHIRE UNION CANAL SOCIETY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted Restricted Total **Unrestricted Unrestricted ** **Unrestricted Unrestricted ** Restricted Total
funds funds funds funds funds funds
general designated general designated
2025 2025 2025 2025 2024 2024 2024 2024
Notes £ £ £ £ £ £ £ £
Net gains/(losses) oninvestments 14 4,096 4,096 (1,625) (1,625)
Netlncome/(expenditure) 27,519 (16,103) 26,500 37,916 16,217 11,004 13,159 40,380
Transfers between funds 6,000 20,500 (26,500) (11,837) (105,504) 117,341
Netmovement in funds 11 33,519 4,397 37,916 4,380 (94,500) 130,500 40,380
Reconciliation of funds:
Fund balances at 1 April 2024 65,998 106,500 164,370 336,868 61,618 201,000 33,870 296,488
Fund balances at 31 March 2025 99,517 110,897 164,370 374,784 65,998 106,500 164,370 336,868

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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SHROPSHIRE UNION CANAL SOCIETY LIMITED

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 16 141 191
Investments 17 4,546 87,356
4,687 87,547
Current assets
Debtors 18 2,947 14,690
Cash at bank and in hand 373,278 248,487
376,225 263,177
Creditors: amounts falling due within 19
one year (6,128) (2,556)
Net current assets 370,097 260,621
Total assets less current liabilities 374,784 348,168
Creditors: amounts falling due after
more than one year 20 (11,300)
Net assets 374,784 336,868
The funds of the charity
Restricted income funds 21 164,370 164,370
Unrestricted funds - general 23 99,517 65,998
Unrestricted funds - designated 22 110,897 106,500
374,784 336,868

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 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 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.

15.08.2025

The financial statements were approved by the trustees on .........................

Mr. C A Robertson

Company registration number 01069860 (England and Wales)

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SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity 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 convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". 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 statement of cash flows.

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 existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing 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 granters as to how they may be used. The purposes and uses of the restricted 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 performance 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 distribution, 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.

It was voted by the SUCS council, given the number of years Life Membership subscriptions have been held, to transfer this balance to general funds received.

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SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, 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 direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable 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 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised 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 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the statement of financial activities.

1.7 Fixed 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 income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment 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 suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 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 party to the contractual provisions of the instrument.

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.

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SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, 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 liabilities

Basic financial 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 classified as payable within one 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 from 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 cancelled.

1.11 Employee benefits

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.

2 Critical accounting estimates and judgements

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 the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

3
Income from donations and legacies
Unrestricted
funds
Restricted
funds
Total
Unrestricted
funds
Restricted
funds
Total
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Donations and gifts
35,288
35,288
19,820
19,820
Legacies receivable
25,000
25,000
Grants
2,970
1,500
4,470
17,500
13,159
30,659
Membership fees
11,300
11,300
49,558
26,500
76,058
37,320
13,159
50,479
Donations and gifts
Donations - general
23,375
23,375
10,044
10,044
Gift Aid
5,398
5,398
2,869
2,869
Subscriptions
6,515
6,515
6,907
6,907
35,288
35,288
19,820
19,820
Grants receivable for core activities
Peoples Postcode Trust
17,500
17,500
Weeping Cross
1,000
1,000
AIA
12,159
12,159
Other
2,970
1,500
4,470
2,970
1,500
4,470
17,500
13,159
30,659		 3
Income from donations and legacies
Unrestricted
funds
Restricted
funds
Total
Unrestricted
funds
Restricted
funds
Total
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Donations and gifts
35,288
35,288
19,820
19,820
Legacies receivable
25,000
25,000
Grants
2,970
1,500
4,470
17,500
13,159
30,659
Membership fees
11,300
11,300
49,558
26,500
76,058
37,320
13,159
50,479
Donations and gifts
Donations - general
23,375
23,375
10,044
10,044
Gift Aid
5,398
5,398
2,869
2,869
Subscriptions
6,515
6,515
6,907
6,907
35,288
35,288
19,820
19,820
Grants receivable for core activities
Peoples Postcode Trust
17,500
17,500
Weeping Cross
1,000
1,000
AIA
12,159
12,159
Other
2,970
1,500
4,470
2,970
1,500
4,470
17,500
13,159
30,659		 3
Income from donations and legacies
Unrestricted
funds
Restricted
funds
Total
Unrestricted
funds
Restricted
funds
Total
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Donations and gifts
35,288
35,288
19,820
19,820
Legacies receivable
25,000
25,000
Grants
2,970
1,500
4,470
17,500
13,159
30,659
Membership fees
11,300
11,300
49,558
26,500
76,058
37,320
13,159
50,479
Donations and gifts
Donations - general
23,375
23,375
10,044
10,044
Gift Aid
5,398
5,398
2,869
2,869
Subscriptions
6,515
6,515
6,907
6,907
35,288
35,288
19,820
19,820
Grants receivable for core activities
Peoples Postcode Trust
17,500
17,500
Weeping Cross
1,000
1,000
AIA
12,159
12,159
Other
2,970
1,500
4,470
2,970
1,500
4,470
17,500
13,159
30,659
49,558
26,500
76,058		 37,320
13,159
50,479
23,375
23,375
5,398
5,398
6,515
6,515		 10,044
10,044
2,869
2,869
6,907
6,907
35,288
35,288		 19,820
19,820
ore activities
2,970
1,500
4,470
2,970
1,500
4,470		 17,500
17,500
1,000
1,000
12,159
12,159
17,500
13,159
30,659

4 Income from charitable activities

Charitable trading
Sale of goods
Other income		 Unrestricted
funds
general
Unrestricted
funds
designated
Total
Unrestricted
funds
general
Unrestricted
funds
designated
Total
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
96,511
96,511
52,163
52,163
4,051
4,051
96,511
4,051
100,562
52,163
52,163

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SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
designated designated
2025 2024
£ £
Fundraising events 185 68
Cuttings - Advertising 1,170 842
Sales of used stamps 225
Recycling 19 18
Other trading activities 1,374 1,153
--

6 Income from investments

Unrestricted Unrestricted
funds funds
designated designated
2025 2024
£ £
Income from listed investments 2,836 5,159
Interest receivable 9,603 6,317
12,439 11,476
--

7 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Advertising 207 58
Other fundraising costs 173 104
380 162
Trading costs
Other trading activities 4,220 3,962
Total costs 4,600 4,124

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SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

8 Expenditure on charitable activities

Charitable
trading
Non
Designated
grants
Total
Charitable
trading
2025
2025
2025
2024
£
£
£
£
Direct costs
Depreciation and impairment
50
50
69
Construction machine hire
15,179
15,179
10,647
Other machine hire
2,691
2,691
240
Construction Materials
44,996
44,996
31,588
Restoration small consumables
685
685
803
Toilet Hire
1,688
1,688
1,430
Fuel for machines
2,133
2,133
1,113
Enhancement costs
78
78
271
Other welfare costs
4,059
4,059
2,418
PPE
1,318
1,318
301
Input VAT reclaimed
(2,433)
72,877
72,877
46,447
Grant funding of activities (see note 9)
38,063
1,000
39,063
Share of support and governance costs (see note 10)
Support
14,019
14,019
10,722
Governance
26,054
26,054
11,973
151,013
1,000
152,013
69,142		 Charitable
trading
Non
Designated
grants
Total
Charitable
trading
2025
2025
2025
2024
£
£
£
£
Direct costs
Depreciation and impairment
50
50
69
Construction machine hire
15,179
15,179
10,647
Other machine hire
2,691
2,691
240
Construction Materials
44,996
44,996
31,588
Restoration small consumables
685
685
803
Toilet Hire
1,688
1,688
1,430
Fuel for machines
2,133
2,133
1,113
Enhancement costs
78
78
271
Other welfare costs
4,059
4,059
2,418
PPE
1,318
1,318
301
Input VAT reclaimed
(2,433)
72,877
72,877
46,447
Grant funding of activities (see note 9)
38,063
1,000
39,063
Share of support and governance costs (see note 10)
Support
14,019
14,019
10,722
Governance
26,054
26,054
11,973
151,013
1,000
152,013
69,142		 Charitable
trading
Non
Designated
grants
Total
Charitable
trading
2025
2025
2025
2024
£
£
£
£
Direct costs
Depreciation and impairment
50
50
69
Construction machine hire
15,179
15,179
10,647
Other machine hire
2,691
2,691
240
Construction Materials
44,996
44,996
31,588
Restoration small consumables
685
685
803
Toilet Hire
1,688
1,688
1,430
Fuel for machines
2,133
2,133
1,113
Enhancement costs
78
78
271
Other welfare costs
4,059
4,059
2,418
PPE
1,318
1,318
301
Input VAT reclaimed
(2,433)
72,877
72,877
46,447
Grant funding of activities (see note 9)
38,063
1,000
39,063
Share of support and governance costs (see note 10)
Support
14,019
14,019
10,722
Governance
26,054
26,054
11,973
151,013
1,000
152,013
69,142
72,877
72,877
46,447
38,063
1,000
39,063
14,019
14,019
10,722
26,054
26,054
11,973
151,013
1,000
152,013
69,142
Analysis by fund
Unrestricted funds-general
Unrestricted funds - designated		 112,950
1,000
113,950
69,142
38,063
38,063
151,013
1,000
152,013
69,142
9
Grants payable
Grants to institutions (2 grants):
Canal and River Trust and a Grant to LCW (GWB) from non
designated funds		 Charitable
trading
Non
Designated
grants
Total
2025
2025
2025
£
£
£

38,063
1,000
39,063

-14-

SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

10 Support costs allocated to activities

10 Support costs allocated to activities
2025 2024
£ £
Plant maintenance 187 305
Bank charges 15 45
Insurance 1,249 2,321
Volunteer training 10,085 6,132
Post and stationery 13 69
Society general expenses 623 133
Sage fees 348 234
Repairs and renewals 1,424 1,483
Other software costs 74
Governance costs 26,055 11,973
40,073 22,695
-- --
Analysed between:
Charitable trading 40,073 22,695
--
11 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets 50 69

12 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

During the year trustees were reimbursed for travel at a total of £2,979 (2024, £NIL) and no trustee was reimbursed for General Expenses (2024, £NIL).

13 Employees

The average monthly number of employees during the year was:

2025 2024
Number 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 2025

14 Gains and losses on investments

Unrestricted Unrestricted
funds funds
designated designated
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investments 4,096 (1,625)

15 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

16 Tangible fixed assets

Tangible fixed assets
Plant and
equipment
£
Cost
At 1 April 2024 12,687
At 31 March 2025 12,687
Depreciation and impairment
At 1 April 2024 12,496
Depreciation charged in the year 50
At 31 March 2025 12,546
Carrying amount
At 31 March 2025 141
At 31 March 2024 191
--

-16-

SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

17 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 April 2024 87,356
Valuation changes 4,097
Disposals (86,907)
At 31 March 2025 4,546
Carrying amount
At 31 March 2025 4,546
At 31 March 2024 87,356
18 Debtors
2025 2024
Amounts falling due within one year: £ £
Other debtors 2,947 14,690
19 Creditors: amounts falling due within one year
2025 2024
£ £
Other creditors 1,128 56
Accruals and deferred income 5,000 2,500
6,128 2,556
--
20 Creditors: amounts falling due after more than one year
2025 2024
£ £
Other creditors 11,300
--

-17-

SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21 Restricted 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 April
2024
£
164,370
Previous year:
At 1 April
2023
£
33,870		 Incoming
resources
£
26,500
Transfers
£
(26,500)
At 31 March
2025
£
164,370
Incoming
resources
Transfers
At 31 March
2024
£
£
£
13,159
117,341
164,370

22 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities.

Previous year: At 1 April
2024
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At 31 March
2025
£
£
£
£
£
£
106,500
17,864
(38,063)
20,500
4,096
110,897
At 1 April
2023
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At 31 March
2024
£
£
£
£
£
£
201,000
12,629
(105,504)
(1,625)
106,500

23 Unrestricted 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 Incoming Resources Transfers At 31 March
2024 resources expended 2025
£ £ £ £ £
General funds 65,998 146,069 (118,550) 6,000 99,517

SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

23
Unrestricted funds
Previous year:
At 1 April
2023
£
General funds
61,618
24
Analysis of net assets between
funds
At 31 March 2025:
Tangible assets
Investments
Current assets/(liabilities)
At 31 March 2024:
Tangible assets
Investments
Current assets/(liabilities)
Long term liabilities		 Incoming
resources
Resources
expended
£
£
89,483
(73,266)
Unrestricted
Unrestricted
funds
funds
general
designated
2025
2025
£
£
141
4,546
99,376
106,351
99,517
110,897
Unrestricted
Unrestricted
funds
funds
general
designated
2024
2024
£
£
191
87,356
77,107
19,144
(11,300)		 (Continued)
Transfers
At 31 March
2024
£
£
(11,837)
65,998
Restricted
Total
funds
2025
2025
£
£
141
4,546
164,370
370,097
164,370
374,784
Restricted
Total
funds
2024
2024
£
£
191
87,356
164,370
260,621
(11,300)
65,998
106,500		 164,370
336,868

SHROPSHIRE UNION CANAL SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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:

2025 2024
Authorised but not contracted for: £ £
Crickheath South
Operating Reserve (see Page 2) 44,000 44,000
Authorised and contracted for:
Crickheath South 35,000 25,000
Canal & River Trust match funding 37,500
Totals: 79,000 106,500

Restricted Funds comprise the unexpended elements of grants and donations received for specific purposes carried forward against future expenditure:

2025
2024
Authorised but not contracted for:
£
£
Crickheath South
126,000
Montgomery Slipway (Powys CC)
2,500
J Faulkner Legacy (Montgomery Canal)
9,370
Oswestry RPG Grant
1,500
Legacy from Holdens Law Ltd(C.Gibson) 25,000
Totals:
164,370
164,370		 132,000
2,500
29,870

26 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).