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|||||Page|
|---|---|---|---|---|
|Reference and Administrative||Details ofthe Charity, Its Trustees|and Advisem||
|Trustees'
Report||||2-10|
|Independent
Auditors'|Report|on the Financial Statements||11-14|
|Statement
of Financial|Activities|||15|
|Balance Sheet||||16-17|
|Notes to the Financial|Statements|||18-38|
##
|REFERENCE AND|REFERENCE AND|REFERENCE AND|ADMINISTRATIVE
DETAILS OFTHE|ADMINISTRATIVE
DETAILS OFTHE|ADMINISTRATIVE
DETAILS OFTHE|ADMINISTRATIVE
DETAILS OFTHE|ADMINISTRATIVE
DETAILS OFTHE|CHARITY, ITSTRUSTEES AND ADVISERS|CHARITY, ITSTRUSTEES AND ADVISERS|CHARITY, ITSTRUSTEES AND ADVISERS|
|---|---|---|---|---|---|---|---|---|---|---|
||||FOR THE YEAR ENDED||||31 MARCH 2022||||
|Trustees|||Jim White, Chair 8 Engineering||||Director||||
||||John Newton, Vice Chair|||&Project||Director|||
||||Alan Jones, Vice-Chair||&Western|||Division||Construction|
||||Matthew
Lee, Treasurer||||||||
||||Kenneth
Burgin, Director||||||||
||||Nicholas Rowson,|Environment|||Director||||
||||Reginald
Gregory,|Maintenance|||Director / Western Depot Manager||||
||||Laurence
Bryant,|Health||&Safety|||||
||||John Allan, Development|||Eastern||Thames||&Severn|
||||David Higgs, Legal Trustee||||||||
||||Stephen
Pickover,|Procurement|||||||
||||Sardaruddin
Khan,|Director (appointed|||||2 February 2022)||
||||Robert Ambury
(resigned|||2 August||2021)|||
||||Andrew
Binstead (resigned 6October 2021)||||||||
|Company|registered||||||||||
|number|||01207787||||||||
|Charity registered|||||||||||
|number|||269721||||||||
|Registered||office|Bell House||||||||
||||Wallbridge||||||||
||||Stroud||||||||
||||Gloucestershire||||||||
||||GL5 3JS||||||||
|Company|secretary||Lisa Mant||||||||
|Independent||auditors|Randall
& Payne LLP||||||||
||||Shurdington
Road||||||||
||||Shurdington||||||||
||||Cheltenham||||||||
||||Gloucestershire||||||||
||||GL51 4GA||||||||
|Bankers|||Barclays Bank||||||||
||||18Southgate Street||||||||
||||Gloucester||||||||
||||Gloucestershire||||||||
||||GL1 2DH||||||||
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||||Restricted|Unrestricted|Total|Tote/|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2022|2022|2022|2021|
|||Note|6|6|6||
|Income from:|||||||
|Donations,
grants and legacies||2|231,330|751,358|982,688|600,152|
|Investments||3||110,029|110,029|29,162|
|Other trading
activities||4||109,631|109,631|81,098|
|Total income|||231,330|971,018|1,202,348|710,412|
|Expenditure
on:|||||||
|Raising funds||||19,607|19,607|16,421|
|Charitable
activities|||153,891|332,422|486,313|3,120,goe|
|Total expenditure|||163,891|352,029|505,920|3,137,329|
|Net income/(expenditure)|||77,439|618,989|696,428|(2,425,917)|
|Transfers
between|funds|16|(12,337)|12,337|||
|Net movement
in|funds||65,102|631,326|696,428|(2,426,917)|
|Reconciliation
of|funds:||||||
|Total funds brought|forward||270,834|532,327|803,161|3,230,077|
|Net movement
in funds|||65,102|631,326|696,428|(2,426, 917)|
|Total funds carried forward|||335,936|1,163,653|1,499,589|803,150|
##
||||BALANCE SHEET|BALANCE SHEET||||
|---|---|---|---|---|---|---|---|
||||AS AT 31 MARCH 2022|||||
||||||2022||2021|
||||Note||6|||
|Fixed assets||||||||
|Tangible assets|||11||166,077||178,098|
|Investments|||12||1||1|
||||||166,078||178,097|
|Current assets||||||||
|Debtors|||13|392,666||95,084||
|Cash at bank and in hand||||972,884||545,OS8||
|||||1,365,560||641,132||
|Creditors: amounts|falling due within one|||||||
|year|||14|(32,037)||(15,058)||
|Net current assets|||||1,333,613||625,064|
|Total assets less current liabilities|||||1,499,591||803,151|
|Net assets excluding||pension asset|||1,499,591||803,161|
|Total net assets|||||1,499,591||803,181|
|Charity funds||||||||
|Restricted funds|||16||335,936||270,834|
|Unrestricted
funds|||16||1,163,655||532,327|
|Total funds|||||1,499,591||803,181|
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|||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2022|2022|2022|
|||||f|6||
||Donations|||231,330|121,836|353,166|
||Legacies||||571,975|571,975|
||Memberships||||57,547|57,547|
|||||231,330|751,358|982,688|
|||||Restnctec|Unrestricted|Total|
|||||funds|funds|funds|
|||||2021|2021|2021|
||||||5||
||Donations||||20,000|20,000|
||Legacies|||51,249|18,922|70,171|
||Grants|||255,600|176,060|431,660|
||Furlough|grants|||20,101|20,101|
||Subscriptions||||58,220|58,220|
|||||306,849|293,303|600,152|
|3.|Income from charitable||activities||||
||||||Unrestricted|Total|
||||||funds|funds|
||||||2022|2022|
||||||6|f|
||Dividends||||110,000|110,000|
||Interest received||||29|29|
||||||110,029|110,029|
##
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||||Unrestricted|Totai|
|---|---|---|---|---|
||||funds|funds|
||||2021|2021|
||||8|f|
|Dividends|||27,959|27,959|
|Interest received|||1,203|1,203|
||||29,162|29,162|
|Income from other trading||activities|||
|Income from non charitable||trading activities|||
||||Unrestricted|Total|
||||funds|funds|
||||2022|2022|
||||6||
|Lottery income|||14,054|14,064|
|Other income|||34,603|34,603|
|Staff recharges|||50,635|60,635|
|Advertising,|talks and events||10,339|10,339|
||||109,631|109,631|
||||Unrestricted|Total|
||||funds|funds|
||||2021|2021|
|||||f|
|Lottery income|||12,099|12,099|
|Other income|||9,700|9,700|
|Staff recharges|||51,745|51,745|
|Advertising,|talks and events||7,554|7,554|
||||81,098|81,098|
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
|||6||
|Lottery income||14,054|14,064|
|Other income||34,603|34,603|
|Staff recharges||50,635|60,635|
|Advertising,|talks and events|10,339|10,339|
|||109,631|109,631|
##
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##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
|||6||
|Lottery Prizes||5,160|5,160|
|Advertising|and promotions|14,447|14,447|
|||19,607|19,607|
##
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##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|||8|8|
|Prizes and|costs|4,800|4,800|
|Other costs||(35)|(35)|
|Advertising|and promotions|11,656|11,656|
|||16,421|16,421|
##
|||Grants to|Total|
|---|---|---|---|
|||Institutions|funds|
|||2022f|2022
E|
|Stroud Valleys Canals Company||36,000|36,000|
|||Grants to|Total|
|||Institutions|funds|
|||2021
6|2021f|
|Cotswold Canals Connected||200,000|200,000|
|Gloucestershire|County Council|2,577,196|2,577,196|
|Stroud Valleys Canals Company||43,550|43,550|
|||2,820,746|2,820,746|
##
##
##
##
|||Activities|Grant|||
|---|---|---|---|---|---|
|||undertaken|funding
of|Support|Total|
|||directly|activities|costs|funds|
|||2022|2022|2022|2022|
|||6|6|6||
|Phase 1B||150,297|||160,297|
|Restoration|and maintenance|50,338||233,714|284,052|
|Grants to Stroud Valleys Canals Company|||36,000||36,000|
|Western
Depot refurbishment||15,964|||16,964|
|||216,599|36,000|233,714|486,313|
|||Activities|Grant|||
|---|---|---|---|---|---|
|||undertaken|funding of|Support|Totai|
|||directly|activities|costs|funds|
|||2021f|2021|2021|2021|
|Phase 1B||8,816|200,000||208,816|
|Restoration|and maintenance|69,104||222,242|291,346|
|A38 Project|||2,577,196||2,577,196|
|Grants to Stroud Valleys Canals Company|||43,550||43,550|
|||77,920|2,820, 746|222,242|3,120,908|
##
##
##
|||Support|Total|
|---|---|---|---|
|||Costs|funds|
|||2022|2022|
|||8||
|Staff costs (Note 9)||97,174|97,174|
|Office rent and|rates|44,877|44,877|
|Light and heat||4,887|4,887|
|Vehicle expenses||10,455|10,455|
|Insurance||12,210|12,210|
|Training,
health|and safety|13,594|13,594|
|Travelling||506|506|
|Office costs||15,392|15,392|
|Advertising||649|649|
|50th Anniversary||14,023|14,023|
|Telephone||135|135|
|Legal and professional||13|13|
|Repairs and renewals||11,546|11,546|
|Bank charges||519|519|
|Governance
costs||7,734|7,734|
|||233,714|233,714|
##
##
##
##
##
|Analysis ofsupport costs (continued)|||
|---|---|---|
||Support|Torsi|
||Costs|funds|
||2021|2021|
||f||
|Staff costs (Note 9)|136,472|136,472|
|Office rent and rates|36,027|36,027|
|Light and heat|5,319|5,319|
|Vehicle expenses|5,369|5,369|
|Insurance|11,797|11,797|
|Training,
health and safety|2,468|2,468|
|Office costs|6,992|6,992|
|Telephone|349|349|
|Legal and professional|3,017|3,017|
|Building maintenance|5,047|5,047|
|Bank charges|207|207|
|Governance
costs|9,178|9,178|
||222 242|222,242|
##
|Auditors'
remuneration||||||
|---|---|---|---|---|---|
|||||2022f|2021|
|Fees payable to the charity's|auditor|for the audit ofthe charity's|annual|||
|accounts||||6,300|6,300|
|Fees payable to the charity's|auditor|in respect of:||||
|Other services||||1,000|2,735|
|AGM expenses||||71|145|
##
##
##
##
|Staff costs|||||
|---|---|---|---|---|
||||2022
6|2021f|
|Wages and|salaries||90,807|127,390|
|Social security costs|||3,649|6,558|
|Contribution|to defined contribution|pension schemes|2,718|2,524|
||||97,174|136,472|
|2022|2021|
|---|---|
|No.|No.|
##
##
##
||Freehold|Plant and|Motor|Office|||
|---|---|---|---|---|---|---|
||Lend
f.|machineryf|vehicles
F.|equipment
6|Boatsf|Total
5|
|Cost or' vslustlon|||||||
|At I April 2021|32,6S6|143,980|42,130|24,34$|212,982|468,026|
|Addlgona||10,668|12,336|2,248||26,242|
|At 31 March 2022|$2,686|164,638|64,466|26,897|212,882|481,268|
|De pma tati on|||||||
|At 1 Aprg 2021|230|131,111|23,949|20,458|102,182|277,930|
|Charge forthe year||8,886|12,294|2,261|1$,860|37,281|
|At 31 March 2022|230|139,977|35,243|22,709|116,0$2|316,191|
|Net book value|||||||
|At 31 March 2022|32,366|14,861|18,222|3,889|98,960|166,077|
|AI31 March 2021|32386|12,869|18,181|3,800|110,800|178,096|
##
||||NOTES TO THE FINANCIAL STATEMENTS|||
|---|---|---|---|---|---|
||||FOR THE YEAR ENDED 31 MARCH 2022|||
|12.|Investments|||||
||||||Investmenl|
||||||in|
||||||subsidiary|
||||||(Cotswold|
||||||Canals Trust|
||||||(Trading)|
||||||Limited|
||||||f|
||Cost or valuation|||||
||At 31 March 2022|||||
||Net book value|||||
||At 31 March 2022|||||
||At 31March 2021|||||
|13.|Debtors|||||
|||||2022f|2021|
||Due within one year|||||
||Trade debtors|||14,570|21,898|
||Amounts
owed by group undertakings|||21,665|29,374|
||Other debtors|||342,484|32,105|
||Prepayments|and accrued income||13,957|12,687|
|||||392,666|96,064|
|14.|Creditors: Amounts||falling due within one year|||
|||||2022|2021|
||||||f|
||Trade creditors|||18,267|5,727|
||Pension fund|payable||527||
||Other creditors|||3,283|381|
||Accruals and|deferred|income|9,960|9,960|
##
##
##
##
|Creditors|: Amounts
fallin|g due within one ye|ar (continued)|||
|---|---|---|---|---|---|
|||||2022|2021|
|||||8|f|
|||||32,037|16,068|
|Financial|instruments|||||
|||||2022|2021|
|||||8|f|
|Financial|assets|||||
|Financial|assets measured|at fair value through|income and expenditure|972,884|545,068|
##
##
##
|16.|Statement offunds||||||||
|---|---|---|---|---|---|---|---|---|
||Statement offunds||- current|year|||||
|||||||||Balance at|
|||||Balance at 1|||'Transfers|31 March|
|||||April 2021|Income|Expenditure|in/out|2022|
|||||||6|6||
||Unrestricted
funds||||||||
||Designated
funds||||||||
||Tangible fixed assets|||178,096|||(12,018)|166,078|
||General
fund reserve|||100,000||||100,000|
||Restoration
fund|||60,525|51,983|(4,705)||107,803|
||Peter Snelson legacy|||13,245||(15,963)|2,718||
||Golden Trow Appeal||||62,337|||62,337|
||Future projects||||518,230|(2,881)|(2,718)|512,631|
|||||351,866|632,550|(23,549)|(12,018)|948,848|
||Generalfunds||||||||
||General Funds|||180,461|338,469|(328,479)|24,355|214,807|
|||||180,461|338,469|(328,479)|24,355|214,807|
||Total Unrestricted||funds|532,327|971,019|(352,028)|12,337|1,163,655|
||Restricted funds||||||||
||Whitminster
Lock|||71,888||||71,888|
||Bonds Mill|||25,000||||25,000|
||Nineveh
Trust|||4,000||||4,000|
||Inglesham
Lock|||2,810||||2,810|
||Fencing at Tunnel House|||1,719||||1,719|
||RF 1BRestoration|Fund||133,021|31,223|(150,298)||13,946|
||RF CRM Project|||10,460||(2,054)||8,406|
||RF Trip Boat|||5,706||(1,639)||4,167|
||RF Stacey re Eisey|||4,000||||4,000|
||Entrust|||12,230|107||(12,337)||
||Robinson
Lock||||200,000|||200,000|
##
|State|ment offunds
-c|urrent year (continued)|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at 1|||Transfers|31 March|
|||April 2021|Income|Expenditure|In/out|2022|
|||8||5|5|f.|
|||270,834|231,330|(153,891)|(12,337)|335,936|
|Total|offunds|803,161|1,202,349|(506,919)||1,499,591|
##
##
|16.|Statement offunds (continued)|Statement offunds (continued)||||||
|---|---|---|---|---|---|---|---|
||Statement offunds - prior year|||||||
||||||||Belence ai|
||||Balance at|||Transfers|31March|
||||1 April 2020|Income|Expenditure
6|in/out
f|2021|
||Unrestricted
funds|||||||
||Designated
funds|||||||
||Tangible fixed assets||177,753||(33,060)|33,403|178,096|
||General reserve fund||40,000|||60,000|100,000|
||Restoration||16,972|68,100|(24,547)||60,525|
||Peter Selson Legacy||50,000|1,500|(27,995)|(10,260)|13,245|
||||284,725|69,600|(85,602)|83,143|351,866|
||General funds|||||||
||General funds||175,521|328,434|(262,803)|(60,691)|180,461|
||Total Unrestricted|funds|460,246|398,034|(348,405)|22,452|532,327|
||Restricted funds|||||||
||Whitminster
Lock||71,888||||71,888|
||Bonds Mill||25,000||||25,000|
||Nineveh
Trust||4,000||||4,000|
||Inglesham
Lock||2,810||||2,810|
||Fencing at Tunnel House||1,719||||1,719|
||RF 1BRestoration|Fund|40,604|296,232|(208,817)|5,002|133,021|
||RF Trip Boat||4,679|1,146|(119)||5,706|
||RF Stacey re Eisey||4,000||||4,000|
||Landing stages||1,868|||(1,868)||
||A38||2,577,196||(2,577,196)|||
||Entrust||32,934||(2,764)|(17,940)|12,230|
||Footpath Signage||3,134|||(3,134)||
||Haddon
Donation -|CRM||15,000|(28)|(4,512)|10,460|
||||2,769,832|312,378|(2,788,924)|(22,452)|270,834|
##
|Summary|offunds - cur|rent year|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at 1|||Transfers|31 March|
|||April 2021
6|Income|Expenditure
E|In/outf|2022|
|Designated|funds|351,866|632,550|(23,549)|(12,018)|948,848|
|General funds||180,461|338,469|(328,479)|24,355|214,807|
|Restricted|funds|270,834|231,330|(163,891)|(12,337)|335,936|
|||803,161|1,202,349|(505,919)||1,499,591|
##
##
|Summary|offunds - prio|r year|April|||||
|---|---|---|---|---|---|---|---|
||||||||Balance ai|
||||Balance at|||Transfers|31March|
|||1|202|Income|Expenditure|in/out|2021|
|||||||8||
|Designated|funds||284,725|69,600|(85,602)|83,143|351,866|
|General funds|||175,521|328,434|(262,803)|(60,691)|180,461|
|Restricted|funds||2,769,832|312,378|(2,788,924)|(22,452)|270,834|
||||3,230,078|710,412|(3,137,329)||803,161|
##
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##
##
##
|Analysis|of net assets between funds -curre|nt year|||
|---|---|---|---|---|
|||Restricted|Unrestricted|Total|
|||funds|funds|funds|
|||2022|2022|2022|
|||f.|6|6|
|Tangible|fixed assets||166,077|166,077|
|Trade investments|||1|1|
|Current assets||335,936|1,029,615|1,365,550|
|Creditors|due within one year||(32,037)|(32,037)|
|Total||335,936|1,163,655|1,499,591|
##
##
|Analysis of net assets between funds - prior|year|||
|---|---|---|---|
||Restri ctec|Unrestnctad|Total|
||funds|funds|funds|
||2021|2021|2021|
|Tangible fixed assets||178,096|178,096|
|Trade investments||1|1|
|Current assets|270,834|370,298|641,132|
|Creditors due within one year||(16,068)|(16,068)|
||270,834|532,327|803,161|
##
##
||||2022|
|---|---|---|---|
||||6|
|Not later than||1 year|13,470|
|Later than|1 year and not later than 5years||27,966|
||||41,436|
##
##