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 2023
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 P E Brewerton S A Durham M A Gardner, Company Secretary J D Lunn M J K Rogers A P Ryan K J Taylor 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 2023.
## **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 (resigned 9 January 2024) P E Brewerton S A Durham G Gardner (appointed 8 August 2023 and resigned 16 April 2024) M A Gardner, Company Secretary J D Lunn M J K Rogers A P Ryan (appointed 28 November 2023) K J Taylor (appointed 15 February 2024) Chairman: P E Brewerton Secretary: M A Gardner, Company Secretary
## **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**
## **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
In 2023 the Trust continued with all our usual operations, including boat trips from Sudbury, Dedham and Flatford, Granary and VEC venue hire, educational activities and the Granary tea room.
The trustees continued to meet regularly via the online facility of Zoom and discussed many issues. We held a face to face AGM for the first time since Covid.
We continued to operate as an agent for the Environment Agency to process their craft registrations for unpowered and private use craft.
The project team has progressed the preparatory work prior to replacing the gates and piling the lock island at Dedham Lock and it is anticipated that the necessary permissions and contractor appointment will be in place for work to start late summer 2024.
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 and liaise with national and regional organisations such as the Environment Agency, Inland Waterways Association, National Trust, Dedham Vale National Landscape, Stour Valley Education Network, Quay Lane Trust, Canoe and Rowing Clubs, Parish and District Councils.
A volunteer group was formed to undertake river and bank maintenance particularly concentrating efforts on maintaining the stretch between Cattawade and Stratford St Mary and this group has done much good work in clearing fallen trees in the river and managing the natural and built environment on the Trust’s properties at Cattawade, Flatford and Stratford.
An application was submitted to achieve designated bathing water status along the stretch of the River Stour by Friars Meadow at Sudbury. This was led by the River Stour Trust in conjunction with Sudbury Town Council. Our stance was that improved water quality would benefit all river users - swimmers, rowers, canoeists, kayakers, paddleboarders and anglers.
The ever-increasing popularity of the river, due in part to the availability of affordable and easily transportable craft, has led to yet more canoes, kayaks, paddleboards as well as wild swimming activity. Particularly, but not exclusively, in the Dedham Vale area this places further challenges to our ability to run our boat trips, especially at weekends. Weed growth and silting have also made life difficult for our crews.
Sudbury to the Sea was compromised at short notice by the decision of Essex Highways to close the navigation at Boxted Bridge which resulted in the Environment Agency being unable to approve the event in full. We ran a one day event starting from Sudbury and finishing on Saturday afternoon at Rushbanks camp site, Wissington.
Page 2
## **The River Stour Trust Limited**
## **Trustees' Report**
We repeated our successful special themed trips at Sudbury including ‘Santa Cruises’ in December, ‘Bat Cruise’ and bank holiday specials ‘Regal River Rides’, ‘Teddy Bears’ Picnic’ and ‘Pirates on the Stour’.
We actively participated in other events, such as the Suffolk Walking Festival where we offered our ‘Walk ‘n’ Water’ experience and ‘Wild in the Stour Valley’ where we offered free boat trips and river-based crafting activities. We also attended ‘Crucial Crew’ to provide a Water Safety activity over 5 days for up to 150 children per day!
During June and July, our staff and volunteers welcomed a total of 141 primary school children with their teachers for a day at our Visitor Education Centre. The visit starts with a talk to learn about the history of the Stour Navigation (past and present), the working river, the cargo, the lighters, the locks and the links with John Constable’s artwork. Additional activities include river dipping, operation of the lock and a boat trip. All children are presented with a certificate of achievement and sticker at the end of the day.
Boats were safely brought ashore at the end of the season and put into winter storage at a new venue for Sudbury boats, and our usual storage venue for the Dedham Vale boats.
Our Stour lighter John Constable was refloated in spring 2023. Unfortunately due to water ingress following a power outage that caused the bilge pumps to fail some damage was caused to the electrical propulsion system. Our insurers accepted our claim and engaged a marine electrician to source the parts and carry out the necessary repairs.
We are grateful to all our volunteers for their time and efforts, whether this is crewing our trip boats, boat/river/site maintenance, tea room, 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 15 August 2024 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 2023.
## **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
15 August 2024
Page 5
## **The River Stour Trust Limited**
## **Statement of Financial Activities for the Year Ended 31 December 2023 (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
Other income
7
Total income
**Expenditure on:**
Charitable activities
8
Total expenditure
Net income/(expenditure)
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
20
**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**
**£**
10,060
126,966
9,583
1,246
9,658
157,513
(128,418)
(128,418)
29,095
29,095
679,678
708,773
**Note**
3
4
5
6
8
20|**Restricted**
**£**
-
10,000
-
-
-
10,000
(13,031)
(13,031)
(3,031)
(3,031)
197,447
194,416
**Unrestricted**
**funds**
**£**
4,590
129,219
11,674
63
145,546
(115,485)
(115,485)
30,061
30,061
649,616
679,677|**Total**
**2023**
**£**
10,060
136,966
9,583
1,246
9,658
167,513
(141,449)
(141,449)
26,064
26,064
877,125
903,189
**Restricted**
**funds**
**£**
-
3,652
-
-
3,652
(12,025)
(12,025)
(8,373)
(8,373)
205,820
197,447|**Total**
**2022**
**£**
4,590
132,871
11,674
63
-
149,198
(127,510)
(127,510)
21,688
21,688
855,436
877,124
**Total**
**2022**
**£**
4,590
132,871
11,674
63|
|---|---|---|---|---|
|||||149,198|
|||||(127,510)|
|||||(127,510)|
|||||21,688|
|||||21,688
855,436|
|||||877,124|
All of the charity's activities derive from continuing operations during the above two periods.
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 2023**
|**Note**
**Fixed assets**
Tangible assets
15
**Current assets**
Stocks
Debtors
16
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
17
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
18
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
20|**2023**
**£**
665,106
1,665
9,625
266,448
277,738
(39,655)
238,083
903,189
-
903,189
194,416
708,773
903,189|**2022**
**£**
679,060
1,641
19,304
217,047|
|---|---|---|
|||237,992
(24,928)|
|||213,064|
|||892,124
(15,000)|
|||877,124|
|||197,447
679,677|
|||877,124|
For the financial year ending 31 December 2023 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 15 August 2024 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 2023**
## **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 15 August 2024.
## **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 2023**
## **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.
## **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 2023**
## **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 2023**
## **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
83,123
Granary operations
17,591
Visitor Education Centre
6,922
Tea Room
6,982
Granary bar
12,348
126,966
**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**
**£**
6,264
3,796
10,060
**Restricted**
**funds**
**£**
10,000
-
-
-
-
10,000
**Unrestricted**
**funds**
**General**
**£**
-
298
5,371
3,914
9,583
**Unrestricted**
**General**
**£**
1,246|**Total**
**2023**
**£**
6,264
3,796
10,060
**Total**
**2023**
**£**
93,123
17,591
6,922
6,982
12,348
136,966
**Total**
**2023**
**£**
-
298
5,371
3,914
9,583
**Total**
**2023**
**£**
1,246|**Total**
**2022**
**£**
3,709
881|
|---|---|---|---|
||||4,590|
||||**Total**
**2022**
**£**
83,885
22,090
6,213
7,104
13,504|
||||132,796|
||||**Total**
**2022**
**£**
46
120
7,162
4,346|
||||11,674|
||||**Total**
**2022**
**£**
63|
Page 11
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **7 Other income**
Other income is recognising the adjustment to reinstate the VAT refund in relation previous years received in July 2024.
## **8 Expenditure on charitable activities**
|**Note**
Staff costs
Governance costs
9|**Unrestricted**
**funds**
**General**
**£**
51,852
25,949
77,801|**Restricted**
**funds**
**£**
-
9,772
9,772|**Total**
**2023**
**£**
51,852
35,721
87,573|**Total**
**2022**
**£**
45,926
42,254|
|---|---|---|---|---|
|||||88,180|
In addition to the expenditure analysed above, there are also governance costs of £35,721 (2022 - £42,254) which relate directly to charitable activities. See note 9 for further details.
Page 12
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **9 Analysis of governance and support costs**
## **Charitable activities expenditure**
|**Charitable activities expenditure**|||||
|---|---|---|---|---|
|Boat operations
Granary operations
Visitor Education
Centre
Tea room
Granary bar
Support costs ( incl
admin payroll &
governance)|**Unrestricted**
**General**
**£**
34,175
5,860
9,404
1,812
8,704
68,463
128,418|**Restricted**
**£**
3,259
-
-
-
-
9,772
13,031|**Total**
**2023**
**£**
37,434
5,860
9,404
1,812
8,704
78,235
141,449|**Total**
**2022**
**£**
23,707
3,882
8,989
2,079
9,891
78,961|
|||||127,509|
## **Governance costs (incl in support 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|**Unrestricted**
**funds**
**General**
**£**
1,000
350
1,201
4,758
18,640
25,949|**Restricted**
**funds**
**£**
-
-
-
9,772
-
9,772|**Total**
**2023**
**£**
1,000
350
1,201
14,530
18,640
35,721|**Total**
**2022**
**£**
1,000
330
6,404
14,037
20,483|
|---|---|---|---|---|
|||||42,254|
Page 13
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **10 Net incoming/outgoing resources**
Net incoming /outgoing resources for the year include:
|Depreciation of fixed assets|**2023**
**£**
14,530|**2022**
**£**
14,037|
|---|---|---|
## **11 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.
## **12 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Pension costs|**2023**
**£**
50,747
1,105
51,852|**2022**
**£**
45,015
911|
|---|---|---|
|||45,926|
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|**2023**
**No**
4|**2022**
**No**
3|
|---|---|---|
4 (2022 - 3) of the above employees participated in the Defined Contribution Pension Schemes.
No employee received emoluments of more than £60,000 during the year.
## **13 Independent examiner's remuneration**
|Examination of the financial statements
**Other fees to examiners**
All other services|**2023**
**£**
1,000
350|**2022**
**£**
1,000|
|---|---|---|
|||330|
## **14 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 2023**
## **15 Tangible fixed assets**
|**Cost**
At 1 January 2023
Additions
At 31 December
2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December
2023
**Net book value**
At 31 December
2023
At 31 December
2022|**Land and**
**buildings**
**£**
444,818
-
444,818
-
-
-
444,818
444,818|**Boats**
**£**
210,641
-
210,641
127,220
8,775
135,995
74,646
83,421|**Pumps &**
**equipment**
**£**
170,859
-
170,859
30,838
3,480
34,318
136,541
140,021|**Fittings**
**£**
75,313
575
75,888
64,513
2,274
66,787
9,101
10,800|**Total**
**£**
901,631
575|
|---|---|---|---|---|---|
||||||902,206|
||||||222,571
14,529|
||||||237,100|
||||||665,106|
||||||679,060|
Included within the net book value of land and buildings above is £216,433 (2022 - £216,433) in respect of freehold land and buildings and £228,385 (2022 - £228,385) in respect of leaseholds.
## **16 Debtors**
|Trade debtors
Prepayments
Other debtors|**2023**
**£**
9,269
356
-
9,625|**2022**
**£**
5,175
14,089
40|
|---|---|---|
|||19,304|
Page 15
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **17 Creditors: amounts falling due within one year**
|Bank loans
Trade creditors
Other taxation and social security
VAT
Other creditors
Accruals|**2023**
**£**
15,000
2,049
1,996
(17,376)
36,986
1,000
39,655|**2022**
**£**
6,000
2,546
1,119
(9,446)
23,709
1,000|
|---|---|---|
|||24,928|
## **18 Creditors: amounts falling due after one year**
|**18 Creditors: amounts falling due after one**|**year**|||
|---|---|---|---|
||**2023**||**2022**|
||**£**||**£**|
|Bank loans||-|15,000|
## **19 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 (2022 - £Nil).
## **20 Funds**
|**Unrestricted funds**
General
**Restricted funds**
**Total funds**|**Balance at 1**
**January 2023**
**£**
679,678
197,447
877,125|**Incoming**
**resources**
**£**
157,513
10,000
167,513|**Resources**
**expended**
**£**
(128,418)
(13,031)
(141,449)|**Balance at 31**
**December**
**2023**
**£**
708,773
194,416|
|---|---|---|---|---|
|||||903,189|
Page 16
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
|**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**
**£**
(115,485)
(12,025)
(127,510)|**Balance at 31**
**December**
**2022**
**£**
679,677
197,447|
|---|---|---|---|---|
|||||877,124|
Page 17
## **The River Stour Trust Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **21 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
477,568
-
177,136
100,602
(39,655)
-
615,049
100,602
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
481,750
-
150,215
87,777
(24,928)
-
(15,000)
-
592,037
87,777|**Restricted**
**funds**
**£**
187,538
-
-
187,538
**Restricted**
**funds**
**£**
197,310
-
-
-
197,310|**Total funds at**
**31 December**
**2023**
**£**
665,106
277,738
(39,655)|
|---|---|---|---|
||||903,189|
||||**Total funds at**
**31 December**
**2022**
**£**
679,060
237,992
(24,928)
(15,000)|
||||877,124|
## **22 Related party transactions**
During the year the charity made the following related party transactions:
The Trust incurred costs to the value of £1,843 (2022 - £1,832) from The Thames Electric Launch Co., a company owned by Mr Emrhys Barrell, one of the Trustees. No profit was made by The Thames Electric Launch Co. or Emrhys Barrell.
At the balance sheet date the amount due to/from was £Nil (2022 - £Nil).
Page 18