Company registration number: 00938670 Charity registration number: 257806
## The River Stour Trust Limited
(A company limited by guarantee) Annual Report and Financial Statements
for the Year Ended 31 December 2022
Burdett King Accountancy Limited Independent Examiner 8 The Hamiltons Newmarket Suffolk CB8 0NF
## **The River Stour Trust Limited**
## **Reference and Administrative Details**
**Chairman** P E Brewerton **Trustees** E G Barrell R S Blay P E Brewerton S A Durham G Gardner M A Gardner, Company Secretary J D Lunn M J K Rogers The charity is incorporated in England. **Independent Examiner** Burdett King Accountancy Limited Independent Examiner 8 The Hamiltons Newmarket Suffolk CB8 0NF **Registered Office** The Granary Quay Lane Sudbury Suffolk CO10 2AN **Company Registration Number** 00938670 **Charity Registration Number** 257806
## **The River Stour Trust Limited**
## **Contents**
|Trustees' Report|1 to 3|
|---|---|
|Statement of Trustees' Responsibilities|4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 18|
## **The River Stour Trust Limited**
## **Trustees' Report**
The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2022.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees: E G Barrell R S Blay (appointed 28 November 2022) P E Brewerton S A Durham G Gardner (appointed 8 August 2023) M A Gardner, Company Secretary (appointed 28 November 2022) J D Lunn J T Parkinson (resigned 17 October 2022) M J K Rogers Chairman: P E Brewerton Secretary: M A Gardner, Company Secretary (appointed 28 November 2022)
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is a company limited by guarantee and is governed by its Memorandum of Association and its Articles of Association. Its purpose is, to quote from that Memorandum 'The preservation, maintenance in good order and improvement of canals, navigable rivers and inland waterways for the use of the public.' In accordance with the Articles of Association, the Members of Council are elected by a vote at the AGM, with one third retiring each year. Vacancies can be filled by appointment of the existing Council, but only until the next AGM when their aapointment must be approved.
The Council meets regularly, at least six times a year. The administration of the Trust by Council is currently assisted through the operation of the following committees:
Sudbury Boat Operations - deals with boating activities from Sudbury, Great Cornard and Great Henny.
Dedham Vale Boating Group - deals with boating activities between Stratford St Mary, Flatford, Dedham and Cattawade.
The Trust relies on volunteers to help organise its activities and events, including keeping the navigation clear, restoring locks and other navigation structures, crewing the trip boats, running the tea room and fund-raising. The Trust employs a small team of paid staff to assist in its operations including a Manager and Administrative Assistant overseeing all day-to-day enquiries and Trust administration, managing our venues and bookings, coordinating educational visits and outreach, providing support to the Trustees and helping to promote the Trust and its activities. A Caretaker and a Cleaner carry out scheduled tasks at The Granary and Visitor Education Centre (VEC) whilst a Bar Manager takes an operational lead role on bar requirements primarily for functions at The Granary.
Page 1
## **The River Stour Trust Limited**
## **Trustees' Report**
## **Statement of trustees' responsibilities**
The trustees (who are also the directors of The River Stour Trust Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and 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 trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Objectives and activities**
## _**Objectives, strategies and activities**_
The strategy of the Trust is broadly two-fold. Firstly the active preservation, maintenance and improvement of navigation structures on the River Stour, principally locks. Secondly, education and increasing public awareness and use of the River Stour as a navigation.
The Trustees believe that this approach clearly demonstrates the public benefits that the Trust wishes to achieve.
The Trust raises funds through regular activities and events. These include boating trips, social and educational events on and off the river, co-operation with other bodies with an interest in the river, rental of our buildings when not in use by the Trust and acquiring land and buildings where these promote our aims. The Trust has a policy of raising funds as and when needed for major projects. We co-operate with other organisations that have an interest in the Stour navigation particularly the Environment Agency who are the navigation authority.
## **Achievements and Performance**
2022 saw a resumption of all our usual operations, including boat trips from Sudbury, Dedham and Flatford, Granary and VEC venue hire and the Granary tea room.
The trustees continued to meet regularly via the online facility of Zoom and discussed many issues. We also held an online AGM.
Page 2
## **The River Stour Trust Limited**
## **Trustees' Report**
We ran Sudbury to the Sea again, although participant numbers were still down on pre-covid levels. This was very much appreciated by the canoeing community and brought some much-needed income.
We continue to operate as an agent for the Environment Agency for the sale of river licences.
We successfully negotiated with the Dedham Mill Management Company over the lease on Dedham lock and a lease was signed in September 2022. A project team has been appointed to oversee the work of replacing the gates and piling the lock island. It is to be noted that because of the delay in obtaining the lease and the inflation since Covid there is now a significant shortfall in funds to achieve this aim.
We are continuing to seek new sources of grants and funding for our restoration projects, and also for general maintenance work.
We continued to be represented on the River Stour Users Group and the Quay Lane Trust, although neither of these bodies met face to face.
Increased canoe, kayak, paddleboard and wild swimming activity particularly but not exclusively in the Dedham area placed further restrictions on our ability to run boat trips especially at weekends. Weed growth and silting have also made life difficult for our crews.
Boats were safely brought ashore at the end of the season and put into winter storage at a new venue in Little Cornard, for Sudbury boats, and our usual storage venue for the Dedham Vale boats.
Our Stour lighter John Constable was craned ashore for essential maintenance and will be refloated in spring 2023.
We are grateful to all our volunteers for their time and efforts, whether boat crews, boat maintenance, garden maintenance, tea room, jetty maintenance and all the other tasks that are necessary to keep the Trust running.
We are also grateful to our hardworking employees without whom the Trust would not be able to operate.
## _**Public benefit**_
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
The annual report was approved by the trustees of the charity on 19 September 2023 and signed on its behalf by:
......................................... P E Brewerton Chairman and trustee
Page 3
## **The River Stour Trust Limited**
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of The River Stour Trust Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and 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 trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 4
## **The River Stour Trust Limited**
## **Independent Examiner's Report to the trustees of The River Stour Trust Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **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:
1. accounting records were not kept in respect of The River Stour Trust Limited as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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
4. the accounts 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 and Republic of Ireland (FRS 102)].
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 accounts to be reached.
...................................... Lisa King Independent Examiner Chartered Certified Accountant
8 The Hamiltons Newmarket Suffolk CB8 0NF
19 September 2023
Page 5
## **The River Stour Trust Limited**
## **Statement of Financial Activities for the Year Ended 31 December 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
**Expenditure on:**
Charitable activities
7
Total expenditure
Net income/(expenditure)
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
19
**Income and Endowments from:**
Donations and legacies
Charitable activities
Other trading activities
Investment income
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net income/(expenditure)
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**£**
4,590
129,219
11,674
63
145,546
(115,484)
(115,484)
30,062
30,062
649,616
679,678
**Note**
3
4
5
6
7
19|**Restricted**
**£**
-
3,652
-
-
3,652
(12,025)
(12,025)
(8,373)
(8,373)
205,820
197,447
**Unrestricted**
**funds**
**£**
10,808
51,229
54,319
11
116,367
(86,925)
(86,925)
29,442
29,442
620,174
649,616|**Total**
**2022**
**£**
4,590
132,871
11,674
63
149,198
(127,509)
(127,509)
21,689
21,689
855,436
877,125
**Restricted**
**funds**
**£**
-
-
-
-
-
(11,224)
(11,224)
(11,224)
(11,224)
217,044
205,820|**Total**
**2021**
**£**
10,808
51,229
54,319
11
116,367
(98,149)
(98,149)
18,218
18,218
837,218
855,436
**Total**
**2021**
**£**
10,808
51,229
54,319
11|
|---|---|---|---|---|
|||||116,367|
|||||(98,149)|
|||||(98,149)|
|||||18,218|
|||||18,218
837,218|
|||||855,436|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 19.
The notes on pages 8 to 18 form an integral part of these financial statements. Page 6
## **The River Stour Trust Limited**
## **(Registration number: 00938670) Balance Sheet as at 31 December 2022**
|**Note**
**Fixed assets**
Tangible assets
14
**Current assets**
Stocks
Debtors
15
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
16
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
17
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
19|**2022**
**£**
679,060
1,641
19,304
217,047
237,992
(24,927)
213,065
892,125
(15,000)
877,125
197,447
679,678
877,125|**2021**
**£**
688,522
1,641
18,727
199,837|
|---|---|---|
|||220,205
(32,291)|
|||187,914|
|||876,436
(21,000)|
|||855,436|
|||205,820
649,616|
|||855,436|
For the financial year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 6 to 18 were approved by the trustees, and authorised for issue on 19 September 2023 and signed on their behalf by:
.........................................
P E Brewerton Chairman and trustee
The notes on pages 8 to 18 form an integral part of these financial statements. Page 7
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **1 Charity status**
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Every member is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is:
The Granary Quay Lane Sudbury Suffolk CO10 2AN
These financial statements were authorised for issue by the trustees on 19 September 2023.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
The River Stour Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
## _**Donations and legacies**_
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 8
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class Depreciation method and rate** Boats 15% reducing balance/5% straight line Fittings 20% reducing balance Pumps & equipment 10% reducing balance/2% straight line
## **Stock**
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Page 9
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 10
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **3 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Gift aid reclaimed
**4**
**Income from charitable activities**
**Unrestricted**
**funds**
**General**
**£**
Boat operations
80,233
Granary operations
22,090
Visitor Education Centre
6,213
Tea Room
7,104
Granary bar
13,504
129,144|**Unrestricted**
**funds**
**General**
**£**
3,709
881
4,590
**Restricted**
**funds**
**£**
3,652
-
-
-
-
3,652|**Total**
**2022**
**£**
3,709
881
4,590
**Total**
**2022**
**£**
83,885
22,090
6,213
7,104
13,504
132,796|**Total**
**2021**
**£**
10,808
-|
|---|---|---|---|
||||10,808|
||||**Total**
**2021**
**£**
29,081
8,820
2,258
3,803
7,256|
||||51,218|
## **5 Income from other trading activities**
|Trading Income:
Sale of trust lines
Support grants
Membership subscriptions
Other income from other trading activities
**6**
**Investment income**
Interest receivable and similar income:
Interest receivable on bank deposits|**Unrestricted**
**funds**
**General**
**£**
46
120
7,162
4,346
11,674
**Unrestricted**
**General**
**£**
63|**Total**
**2022**
**£**
46
120
7,162
4,346
11,674
**Total**
**2022**
**£**
63|**Total**
**2021**
**£**
82
35,760
7,022
11,455|
|---|---|---|---|
||||54,319|
||||**Total**
**2021**
**£**
11|
Page 11
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **7 Expenditure on charitable activities**
|**Note**
Staff costs
Allocated support
costs
8
Governance costs
8|**Unrestricted**
**funds**
**General**
**£**
43,808
20,060
33,716
97,584|**Restricted**
**funds**
**£**
-
2,281
9,744
12,025|**Total**
**2022**
**£**
43,808
22,341
43,460
109,609|**Total**
**2021**
**£**
39,088
11,363
36,419|
|---|---|---|---|---|
|||||86,870|
In addition to the expenditure analysed above, there are also governance costs of £43,460 (2021 - £36,419) which relate directly to charitable activities. See note 8 for further details.
Page 12
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **8 Analysis of governance and support costs**
## **Charitable activities expenditure**
|Boat operations
Granary operations
Visitor Education
Centre
Tea room
Granary bar
Support costs
**Governance costs**
Independent examiner fees
Examination of the financial
statements
Other fees paid to examiners
Legal fees
Depreciation, amortisation and
other similar costs
Other governance costs
Allocated support costs|**Unrestricted**
**General**
**£**
60,662
3,882
8,989
2,079
9,891
29,981
115,484
**Unrestricted**
**funds**
**General**
**£**
1,000
330
6,404
4,293
20,483
1,206
33,716|**Restricted**
**£**
2,281
-
-
-
-
9,744
12,025
**Restricted**
**funds**
**£**
-
-
-
9,744
-
-
9,744|**Total**
**2022**
**£**
62,943
3,882
8,989
2,079
9,891
39,725
127,509
**Total**
**2022**
**£**
1,000
330
6,404
14,037
20,483
1,206
43,460|**Total**
**2021**
**£**
49,604
2,489
3,495
1,125
6,798
34,638|
|---|---|---|---|---|
|||||98,149|
|||||**Total**
**2021**
**£**
1,000
463
2,826
14,600
17,530
-|
|||||36,419|
Page 13
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **9 Net incoming/outgoing resources**
Net incoming /outgoing resources for the year include:
|Depreciation of fixed assets|**2022**
**£**
14,037|**2021**
**£**
14,600|
|---|---|---|
## **10 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **11 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries|**2022**
**£**
43,808|**2021**
**£**
39,088|
|---|---|---|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|The average head count of employees during the year was|**2022**
**No**
3|**2021**
**No**
3|
|---|---|---|
3 (2021 - 3) of the above employees participated in the Defined Contribution Pension Schemes.
No employee received emoluments of more than £60,000 during the year.
## **12 Independent examiner's remuneration**
|**12 Independent examiner's remuneration**|||
|---|---|---|
|Examination of the financial statements
**Other fees to examiners**
All other services|**2022**
**£**
1,000
330|**2021**
**£**
1,000|
|||463|
## **13 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
Page 14
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **14 Tangible fixed assets**
|**Cost**
At 1 January 2022
Additions
At 31 December
2022
**Depreciation**
At 1 January 2022
Charge for the year
At 31 December
2022
**Net book value**
At 31 December
2022
At 31 December
2021|**Land and**
**buildings**
**£**
444,818
-
444,818
-
-
-
444,818
444,818|**Boats**
**£**
210,641
-
210,641
118,366
8,854
127,220
83,421
92,275|**Pumps &**
**equipment**
**£**
170,313
546
170,859
27,348
3,490
30,838
140,021
142,965|**Fittings**
**£**
71,284
4,029
75,313
62,820
1,693
64,513
10,800
8,464|**Total**
**£**
897,056
4,575|
|---|---|---|---|---|---|
||||||901,631|
||||||208,534
14,037|
||||||222,571|
||||||679,060|
||||||688,522|
Included within the net book value of land and buildings above is £216,433 (2021 - £216,433) in respect of freehold land and buildings and £228,385 (2021 - £228,385) in respect of leaseholds.
## **15 Debtors**
|Trade debtors
Prepayments
Other debtors|**2022**
**£**
5,175
14,089
40
19,304|**2021**
**£**
4,023
14,678
26|
|---|---|---|
|||18,727|
Page 15
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **16 Creditors: amounts falling due within one year**
|Bank loans
Trade creditors
Other taxation and social security
VAT
Other creditors
Accruals|**2022**
**£**
6,000
2,546
1,119
(9,446)
23,708
1,000
24,927|**2021**
**£**
6,000
13,851
1,909
(10,968)
21,499
-|
|---|---|---|
|||32,291|
## **17 Creditors: amounts falling due after one year**
|**17 Creditors: amounts falling due after one**|**year**||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Bank loans|15,000|21,000|
## **18 Pension and other schemes**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £Nil (2021 - £Nil).
## **19 Funds**
|**Unrestricted funds**
General
**Restricted funds**
**Total funds**|**Balance at 1**
**January 2022**
**£**
649,616
205,820
855,436|**Incoming**
**resources**
**£**
145,546
3,652
149,198|**Resources**
**expended**
**£**
(115,484)
(12,025)
(127,509)|**Balance at 31**
**December**
**2022**
**£**
679,678
197,447|
|---|---|---|---|---|
|||||877,125|
## **Unrestricted funds**
Page 16
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
|**Unrestricted funds**
General
**Restricted funds**
**Total funds**|**Balance at 1**
**January 2021**
**£**
620,174
217,044
837,218|**Incoming**
**resources**
**£**
116,367
-
116,367|**Resources**
**expended**
**£**
(86,925)
(11,224)
(98,149)|**Balance at 31**
**December**
**2021**
**£**
649,616
205,820|
|---|---|---|---|---|
|||||855,436|
Page 17
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **20 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
481,750
-
150,215
87,777
(24,927)
-
(15,000)
-
592,038
87,777
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
481,468
-
144,470
75,735
(32,291)
-
(21,000)
-
572,647
75,735|**Restricted**
**funds**
**£**
197,310
-
-
-
197,310
**Restricted**
**funds**
**£**
207,054
-
-
-
207,054|**Total funds at**
**31 December**
**2022**
**£**
679,060
237,992
(24,927)
(15,000)|
|---|---|---|---|
||||877,125|
||||**Total funds at**
**31 December**
**2021**
**£**
688,522
220,205
(32,291)
(21,000)|
||||855,436|
Page 18