##
||||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|
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|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|
##
##
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##
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##
##
||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|
##