OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

Page
Reference and Administrative
Details
Trustees'
Annual
Report		 2 to 7
Independent Examiner's Report
Consolidated Statement of Financial Activities
Consolidated and Charity Balance Sheets 10
Consolidated Statement of Cash Flows
Notes to the Financial Statements 12to 22

Organisational
Stru		 Organisational
Stru		 cture
The trustees
normally		 meet once per month. There were 8 meetings of the board (Council of Management) during
2022. The members ofthe board during that year and their attendance records were:
Sally Schupke (Chairman) 8 Tony Coles 7
Margaret
Darvill		 7 Tony Ford 7
Dennis Gillen 8 Alan Johnson 6
Julian Morgan 8 John Reynolds 8
Giles Eyre 8 Bill Nicholson 8
John Talbot (retired April 2022) 4

FOR THE YEAR ENDED FOR THE YEAR ENDED 3 1 ST DEC EMBE R 2022
Major Risks
The major risks to which the Trust is exposed, as identified
by the trustees,
are reviewed
annually.		 The
containment of identified risks is a continuing task of the trustees. Some of the major risks identified, and the
actions to mitigate
them, are		 as follows:
Risk Mitigation
Perceived negligence by the Trust, its Public Liability insurance,
close liaison with statutory		 bodies,
volunteers or agents improved
training
for volunteers.
Failure of income streams Careful financial management
and a policy ofnot		 committing
to major
work
until
funds
are available.
Overheads
and
recurring
expenses are minimised.
Decision by a landowner not to agree or Other than for good reasons,
Trust policy is not		 normally t
extend a lease commit
to major expenditure
without
ownership		 or a long
lease being
in place.
Failure of canal structures Other
than
where
the
Trust
has
agreed		 to accept
responsibility
under
a specific
agreement
with		 a
local
authority,
highway
bridges are the responsibility		 of the local
authorities.
Regular inspection
ofsmaller structures.
Failure of water supply to operational section Careful water management
and monitoring.
Accidents to visitors, volunteers or general public Risk assessments
for all major activities.
Health		 8 Safe
Policy
in
place
for working
party
volunteers.		 Restoration
Group reviews
all incidents
and takes appropriate		 action.

FOR THE YEAR E DE D 31S TDECEMB ER 20 22
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2022 2022 2022 2021
Note f
Income
Donations,
legacies
and similar income
Subscriptions 28,892 28„892 31,538
Donations
and legacies		 140,608 48,819 189,427 452,444
Grants 150,129 54,193 204,322 210,984
Other trading
activities
Fund-raising 19,533 19,533 26,554
Trading
subsidiary		 income 52,443 52,443 53,932
Other income 16,474 16,474 5,521
Investment
income
Bank interest 7,949 7,949 7, '/39
Total Income 416,028 103,012 519,040 788,112
Expenditure
Expenditure
on raising		 funds
Costs of raising voluntary income 33,608 2,156 35,764 36,904
Trading
subsidiary		 costs 19,752 19,752 25,200
Charitable
activities		 446,702 54,311 501,013 619,282
Total expenditure 500,062 56,467 556,529 681,386
Net (expenditure) I income for the year (84,034) 46,545 (37,489) 106,726
Transfers
between		 funds 9827 9827
(93,861) 56,372 (37,489) 106,726
(Loss) on investment assets 13 (2,222) (2,222) (378)
Net movement
in funds		 96,083 56,372 39,711) 106,348
Reconciliation
offunds
Total funds brought forward 1,185,612 254,598 1,440,210 1,333,862
Total funds carried forward 1,089,529 310,970 1,400,499 1,440,210

AS AT 31STDEC EI IBER2022
Consolidated Consolidated Charity Charity
2022 2021 2022 2021
Note
Fixed assets
Tangible assets 10 524,416 481,681 524,416 481,681
Investments 11 12 12
524,416 481,681 524,428 481,693
Current assets
Stocks 3,960 5,308
Debtors 12 49,256 128,838 50,789 130,436
Investments 13 79,32'l 79,321
Short-term
deposits		 617,931 328,677 617,931 328,677
Cash at bank and in hand 244,053 439,489 234,790 429,709
915,200 981,633 903,510 968,143
Creditors: Amounts falling
due within one year 39,117 23,104 35,913 (16,569
Net current assets 876,083 958,529 867,597 951,574
Total assets less current liabilities 1,400,499 'l,440,210 1,392,025 1,433,267
The funds ofthe charity:
Restricted
income		 funds 15 310,970 254,598 310,970 254,598
Unrestricted
income		 funds: 15
Designated
funds		 743,932 798,073 743,932 798,073
Other charitable funds 345597 387,539 337123 380,596
Total unrestricted funds 1,089,529 1,185,612 1,081,055 1, 'l 78,669
Total charity funds 1,400,499 1,440,210 1,392,025 1,433,267
FOR THE YEAR ENDED 31STDE CEMBER 2022
2022 2021
F
Net cash flow from operating
activities
Net (expenditure)
/ income for year		 (39,711) 106,348
Adjustments
for:
Interest receivable (7,949) (7,139)
Depreciation
and amortisation		 53,885 34,561
Losses on investments 2,222 378
Decrease
in stock		 1,348 462
Decrease / (increase)
in debtors		 79,582 (31,544)
Increase
/ (decrease)
in creditors		 16013 15,352
Net cash from operating
activities		 105,390 8T,714
Cash flow from investing
activities
Payments
to acquire tangible
fixed assets		 (96,620) (206,580)
Proceeds from the sale of investments 77,099
Interest received 7,949 7,139
Net cash flow (used in) investing activities 11572 199,441
Net increase
/ (decrease)
in cash and cash equivalents 93,818 (111,727)
Cash and cash equivalents
brought forward		 768,166 879,893
Cash and cash equivalents
carried forward		 861,984 768,166
Cash and cash equivalents
consists of:
Cash at bank and in hand 244,053 439,489
Short-term
deposits		 617,931 328,677
Cash and cash equivalents
carried forward		 861,984 768,166

8 A Enterprises
Limited. Th		 e sum mar y
performance		 of the charity a lone is:
2022 2021
Income 466,597 734,180
Profits made by subsidiary company and passed to the Trust 24,000 474
Interest charged to subsidiary company (see Note 6) 574
Other charges made to subsidiary company 6,000 6,000
496,597 741,228
Expenditure (535,617) (669,302)
(Loss) on investment
assets		 (2,222) (378)
Net movement
in funds		 (41,242) 71,548
4. DONATIONS,
LEGACIES AND SIMILAR INCOME
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2022 2022 2022 2021
E f.
Member subscriptions 28,892 28,892 31,538
Donations
and legacies
General 47,958 28,819 76,777 98,531
Gift Aid receipts 32,198 32,198 19,281
Legacies 23,675 20,000 43,675 255,516
Milestone
Club		 15,252 15,252 14,616
Donated
land		 44,000
Sponsorship 21 525 21 525 20,500
140608 48,819 189427 452,444
Grants
Canoe Foundation 6,000 6,000
Charities
Aid Foundation		 17,001 17,001
Chichester
District Council		 10,096
Fisherbeck Charitable
Trust		 4,000 4,000 3,000
Loxwood Fete Committee 600 600
Loxwood Parish Council 6,000 6,000
M G Blanc Charitable
Will Trust		 750 750
M J Camp Charitable
Foundation		 120,000 120,000 1'/0,000
The Royal Oak Foundation 38,593 38,593 37,388
Surrey County Council 1,224 1,224
Sussex Industrial
Archaeology		 Society 500
Waverley
Borough Council		 5,000 5,000
Others (including
grants from		 donors
who wish to remain
anonymous)		 2,154 3,000 5,154 50,000
150,129 54,193 204„322 210,984

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2022 2022 2022 2021
F f.
Fund raising
Sales ofwaste paper etc 5,430
Sponsored walk receipts 9,338 9,338 10,596
Draws 8,364 8,364 9,690
Talks 1,831 1,831 838
19,533 19,533 26,554
Other income 16474 16474 5521

2022f 2021
Turnover 52,443 53,932
Cost ofsales 19,752 25,200
32,691 28,732
Grants from parent charity 14,096
Governance costs (1,160) (980)
31,531 41,848
The subsidiary paid the following to the charity:
Leasing charges 6,000 6,000
Interest payable to parent company (see below) 574
Donations 24,000 474
30,000 7,048
Net profit 1,531 34,800

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2022 2022 2022f 2021
Staff costs 14,085 14,085 13,930
Fund-raising
activities		 expenses 2,374 2,374 2,864
Wey-South
magazine		 5,976 5,976 6,085
Publicity
and public relations		 5,151 5,151 5,840
Sponsored
walk		 20 20 27
Wiggonholt
depreciation		 4,523 4,523 4,523
Loxwood Canal Centre depreciation 2,156 2,156 2,156
Shalford
Information		 Centre depreciation 1,479 1,479 1,479
33,608 2,156 35,764 36,904
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2022 2022 2022 2021
E F
Restoration
Expenses
Summit
Level		 27,165 9,835 37,000 254,721
North 67,774 28,019 95,793 67,472
Loxwood 4,046 1,964 6,010 6,250
Other 796 2,635 3,431 45,677
Training 4,226 4,226 5,782
Other expenses
Sponsorship (Note 4) 11,025 11,025 'l0,500
Staff costs 66,857 66,857 78,217
Canal operation 16,333 16,333 6,483
Insurance 10,162 10,162 11,411
Canal maintenance 91,037 11,858 102,895 24,342
Plant purchases 2,743 2,743 7,697
Plant maintenance 24,794 24,794 'l0,932
Plant 8 equipment depreciation 45,727 45,727 26,403
372,6&5 54,311 426,996 555,887
Support costs (see below) 74,017 74,017 63,395
Cost ofcharitable activities 446,702 54,311 501,013 619,282
Support costs
Staff costs 20,700 20,700 17,195
Office and other expenses 29,449 29,449 16,364
Legal fees 9,881 9,881 16,274
Affiliation fees 187 187 2'/8
Sponsorship
(Note 4)		 10,500 10,500 10,000
Governance
costs
Hall hire and meeting expenses 200 200 564
Independent examiner's fees 3,100 3,100 2,780
74,017 74,017 63,395

The costs ofthe remaining
staff were:
2022 2021
Wages and salaries 99,832 '/07, 538
Social security costs 1,937 3,087
Pension costs 1,351 1,769
103,120 'I12,394
2022 2021
No No
Average full time equivalent number ofstaff employed 3.2 3.8
Average number ofstaff employed (headcount) 7 8
The charity relies sub stantially
on		 its core team of voluntee rs.
The wo		 rk carried out covers:
2022 2022 2022 2021 2021
Visiting groups hours Total hours Value Total hours Va/ue
Skilled 8,582 9,231 110,772 9,T77 117,324
Unskilled 8,759 9,827 117,924 10,298 123,576
Management 299 4,173 50,076 4,625 55,500
Adminlpublicity 849 2,083 41,660 1,899 37,980
Estimated Totals 18,489 25,314 320,432 26,599 334,380

10. TANGIBLE FIXED ASS ETS
Loxwood Shalford Subsidiary
Freehold Canal Information Plant 8 owned
Land
f		 Centre
f		 Centre
f		 Equipment
f		 Wiggonholt
f		 Boats
f		 Total
f
Cost
At 1stJanuary 2022 246,000 107,789 29,580 219,218 90,469 12,850 705,906
Additions 96,620 96,620
Disposals (22,500) (22,500)
At 31stDecember 2022 246,000 107,789 29,580 293,338 90,469 12,850 780,026
Depreciation
At 1stJanuary 2022 21,552 1,479 129,544 58,800 12,850 224,225
Charge for the year 2,156 1,479 45,727 4,523 53,885
Eliminated
on disposals		 (22,500) (22,500)
At 31stDecember 2022 23,708 2,958 152,771 63,323 12,850 255,610
Net book value
At 31stDecember 2022 246,000 84,081 26,622 140,567 27,146 524,416
At 31stDecember 2021 246,000 86,237 28,101 89,674 31,669 481,681
11. FIXEDASSET INVESTMENT
2022f 2021
Wholly owned subsidiary (see Note 6):—
WEA Enterprises Ltd: 12ordinary shares off1 each 12 12
12 12
12. DEBTORS
DEBTORS
Consolidated Consolidated Charity Charity
2022
f		 2021 2022f 2021
Trade debtors 3,914
Legacies receivable 79,865 79,865
VAT refunds due 23,055 15,650 23,055 15,650
Due from subsidiary company (see Note 6) 3,195 7,189
P repayments 13,203 13,960 11,541 12,283
Other debtors 2,969 1,741 2,969 1,741
Income tax recoverable (gift aid) 10,029 13,708 10,029 13,708
49,256 128,838 50,789 130,436

Consolidated Consolidated Charity Charity
2022 2021 2022 2021
Investments
listed on
recognised
stock exchanges		 79,321 79,321
Market value brought forward 79,321 79,699
(loss) in the year (2,222) (378)
Sales proceeds (77,099)
Market value carried forward 79,321
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Consolidated Consolidated Charity Charity
2022 2021 2022 2021
Trade creditors 33,350 15,321 32,960 14,769
Receipts paid
in advance		 1,338 4,777
Social security and other taxes 1,274 226 1,013
Sundry creditors and accruals 3,155 2,780 1,940 'l,800
39,117 23,104 35,913 16,569

15 . FUNDS
Balance at Balance at
1Jan Fund 31 Dec
2022f Income
f		 Expenditure Transfers
f		 2022f
a) Restricted Funds
Loxwood Canal Centre 85,128 (2,156) 82,972
Restoration funds:
Summit
Level		 10,190 (9,835) 355
North 95,613 48,819 (28,019) 9,827 126,240
Loxwood 1,863 6,600 (7,938) 525
General Restoration 61,804 47,593 (8,519) 100,878
Total Restricted Funds 254,598 103,012 56,467 9,827 310,970
Balance at Balance at
1Jan Fund 31Dec
2021 Income Expenditure Transfers 2021
2021
Restricted Funds
Loxwood Canal Centre 87,284 (2,156) 85,128
Restoration funds:
Summit Level 233,618 1,620 (229,810) 4,762 10,190
North 86,527 70,000 (31,334) (29,580) 95,613
Loxwood 2,152 (500) 211 1,863
General Restoration 13,316 133,616 (10,128) (75,000) 61,804
Subsidiary company support 4,000 10,096 (14,096)
Total Restricted Funds 426,897 215,332 (273,928) (113,703) 254,598
Balance at Balance at
1Jan Fund 31 Dec
2022f Income
f		 Expenditure
f		 Transfersf 2022f
b) Unrestricted Funds
Designated Funds:
Fixed Assets 396,553 44,891 441,444
North 161,294 (116,657) 44,637
Loxwood 30,074 (7,221) 22,853
Summit 125,987 (51,749) 74,23&
General Restoration 84,165 76,595 160,760
798,073 (54,141) 743,932
General
Funds		 380,596 361,363 (479,150) 74,314 337,123
Trading
Subsidiary		 6943 52443 20 912
1,185,612 413,806 (500,062) (9,827) 1,089,529
1,440,210 516,818 (556,529) 1,400,499
Total Funds:
Retained in parent 1,433,267 464,375 (535,617) 30,000 1,392,025
Retained in subsidiary 6,943 52,443 (20,912) (30,000) 8,474
1,440,210 516,818 (556,529) 1,400,499

Balance at Balance at
1Jan Fund 31Dec
2021 Income Expenditure Transfers 2021
2021
Designated Funds:
Fixed Assets 222,378 174,175 396,553
North 231,629 (70,335) 161,294
Loxwood 80,017 (49,943) 30,074
Summit 157,868 (31,881) 125,987
General Restoration 31,869 52,296 84,165
723,761 74,312 798,073
General Funds 211,061 504,374 (381,278) 46,439 380,596
Trading Subsidiary 27,857 68,028 26,180 7,048 6,943
906,965 572,402 (407,458) 1'l3,703 1,185,612
1,333,862 787,734 (681,386) 1,440,210
Total funds:
Retained in parent 1,361,719 719,706 (655,206) 7,048 1,433,267
Retained in subsidiary (27,857) 68,028 (26,180) (7,048) 6,943
1,333,862 787,734 (681,386) 1,440,210

Unrestricted
Unrestricted Designated Total Restricted Total
Funds Funds Funds Funds Funds
F E
2022
Tangible fixed assets 441,444 441,444 82,972 524,416
Current assets (56,730) 743,932 687,202 227,998 915,200
Creditors falling
due within one year (39,117) (39,117) (39,117)
345,597 743,932 1,089,529 310,970 1„400,499
2021
Tangible fixed assets 396,553 396,553 85,128 481,681
Current assets 14,090 798,073 812,163 169,470 981,633
Creditors
falling
due within one year		 (23,104) (23,104) (23,104)
387,539 798,073 1, 'I 85,612 254,598 1,440,210