| Page | ||
|---|---|---|
| Reference and Administrative Details ofthe Charity, Its Trustees and Advisers |
||
| Trustees' Report |
2-12 | |
| Trustees' Responsibilities Statement |
13 | |
| Independent Auditors' |
Report on the Financial Statements | 14-17 |
| Statement of Financial | Activities | 18 |
| Balance Sheet | 19-20 | |
| Notes to the Financial | Statements | 21 - 41 |
| REFERENCE AND | REFERENCE AND | REFERENCE AND | ADMINISTRATIVE DETAILS OF THE |
ADMINISTRATIVE DETAILS OF THE |
ADMINISTRATIVE DETAILS OF THE |
CHARITY, ITSTRUSTEES AND ADVISERS | CHARITY, ITSTRUSTEES AND ADVISERS | CHARITY, ITSTRUSTEES AND ADVISERS |
|---|---|---|---|---|---|---|---|---|
| FOR THE YEAR | ENDED | 31 MARCH 2023 | ||||||
| Trustees | Jim White, Chair & 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 (resigned 3 May 2023) |
||||||||
| Company | registered | |||||||
| number | 01207787 | |||||||
| Charity registered | ||||||||
| number | 269721 | |||||||
| Registered | offic | Bell House | ||||||
| Wallbridge | ||||||||
| Stroud | ||||||||
| Gloucestershire | ||||||||
| GL5 3JS | ||||||||
| Company | secretary | Lisa Mant | ||||||
| Independent | auditors | Randall & Payne LLP |
||||||
| Statutory Auditors | ||||||||
| Shurdington Road |
||||||||
| Cheltenham | ||||||||
| Gloucestershire | ||||||||
| GL51 4GA | ||||||||
| Bankers | Barclays Bank | |||||||
| 18Southgate Street | ||||||||
| Gloucester | ||||||||
| Gloucestershire | ||||||||
| GL1 2DH |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2023 | 2023 | 2023 | 2022 | |||
| Note | 6 | 6 | ||||
| Income from: | ||||||
| Donations and legacies |
2 | 157,874 | 504,169 | 662,042 | 982,688 | |
| Charitable activities |
3 | 90,137 | 90,137 | 110,029 | ||
| Other trading activities |
4 | 84,942 | 84,941 | 109,631 | ||
| Total income | 157,674 | 679,248 | 837,122 | 1,202,348 | ||
| Expenditure on: |
||||||
| Raising funds | 23,402 | 23,402 | 19,607 | |||
| Charitable activities |
14,220 | 369,871 | 384,091 | 485,313 | ||
| Total expenditure | 14,220 | 393,273 | 407,493 | 505,920 | ||
| Net income | 143,654 | 285,975 | 429,629 | 696,428 | ||
| Transfers between |
funds | 17 | (20,616) | 20,616 | ||
| Net movement in |
funds | 123,039 | 306,591 | 429,630 | 695,428 | |
| Reconciliation of |
funds: | |||||
| Total funds brought | forward | 336,938 | 1,163,652 | 1,499,590 | 803,161 | |
| Net movement in funds |
123,039 | 306,591 | 429,630 | 696,428 | ||
| Total funds carried forward | 458,977 | 1,470,243 | 1,929,220 | 1,499,589 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | ||||||||
| Fixed assets | ||||||||
| Tangible assets | 11 | 261,770 | 166,077 | |||||
| Investments | 12 | 1 | 1 | |||||
| 261,771 | 165,078 | |||||||
| Current assets | ||||||||
| Stocks | 13 | 6,889 | ||||||
| Debtors | 14 | 48,816 | 392,656 | |||||
| Cash at bank | and | in hand | 1,642,072 | 972,884 | ||||
| 1,696,777 | 1,365,550 | |||||||
| Creditors: amounts | falling due within one | |||||||
| year | 15 | (19,329) | (32,037) | |||||
| Net current | assets | 1,677,448 | 1,333,513 | |||||
| Total assets | less | current liabilities | 1,929,219 | 1,499,591 | ||||
| Net assets excluding | pension asset | 1,929,219 | 1,499,591 | |||||
| Total net assets | 1,929,219 | 1,499,591 | ||||||
| Charity funds | ||||||||
| Restricted funds |
17 | 468,977 | 335,935 | |||||
| Unrestricted | funds | 17 | 1,470,242 | 1,163,655 | ||||
| Total funds | 1,929,219 | 1,499,591 |
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2023 | |
| 6 | 6 | 6 | |
| Donations | 138,386 | 69,836 | 208,222 |
| Legacies | 378,926 | 378,926 | |
| Grants | 19,488 | 19,488 | |
| Memberships | 55,407 | 66,407 | |
| 157,874 | 504,169 | 662,043 | |
| Restricted | Unrestricted | Total | |
| funds | funds | funds | |
| 2022 5 |
2022 5 |
2022f | |
| Donations | 231,330 | 121,836 | 353,166 |
| Legacies | 571,975 | 571,975 | |
| Grants | |||
| Memberships | 57,547 | 57,547 | |
| 231,330 | 731,358 | 982,688 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| 6 | 6 | |
| Dividends | 87,500 | 87,600 |
| Interest received | 2,637 | 2,637 |
| 90,137 | 90,137 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2022 | 2022 | |
| 5 | ||
| Dividends | 110,000 | 110,000 |
| Interest received | 29 | 29 |
| 110,029 | 110,029 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2023 | ||
| 5 | 5 | ||
| Loiter income | 12,981 | 12,981 | |
| Other income | 18,972 | 18,972 | |
| Staff recharges | 41,452 | 41,452 | |
| Advertising, | talks and events | 11,527 | 11,527 |
| 84,942 | 84,942 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| 2022 | 2022 | ||
| 5 | |||
| Lottery income | 14,054 | 14,054 | |
| Other income | 34,603 | 34,603 | |
| Staff recharges | 50,635 | 50,635 | |
| Advertising, | talks and events | 10,339 | 10,339 |
| 109,631 | 109,631 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2023 | ||
| F. | |||
| Lottery prizes | 4,800 | 4,800 | |
| Advertising | and promotions | 18,602 | 18,602 |
| 23,402 | 23,402 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2022 6 |
2022f | ||
| Lottery prizes | 5,160 | 5,160 | |
| Advertising | and promotions | 14,447 | 14,447 |
| 19,607 | 19,607 |
| Grants to | Total | ||||
|---|---|---|---|---|---|
| Institud one | funds | ||||
| 2023 | 2023 | ||||
| E | |||||
| Stroud | Valleys | Canals | Company | 101,000 | 101,000 |
| Grants to | Total | ||||
| Institutions | funds | ||||
| 2022f | 2022 | ||||
| Stroud | Valleys | Canals | Company | 36,000 | 36,000 |
| Activities | Grant | |||||
|---|---|---|---|---|---|---|
| undertaken | funding of |
Support | Total | |||
| directly | activities | costs | funds | |||
| 2023 | 2023 | 2023 | 2023 | |||
| E | E | E | E | |||
| Phase 1B | 21,900 | 21,900 | ||||
| Restoration | and maintenance | 51,855 | 207,411 | 259,266 | ||
| Grants to | Stroud Valleys Canals Company | 101,000 | 101,000 | |||
| Western | Depot refurbishment | 1,925 | 1,925 | |||
| 75,680 | 101,000 | 207,411 | 384,091 |
| Activities | Grant | |||||
|---|---|---|---|---|---|---|
| undertaken | funding of |
Support | Total | |||
| directly | activities | costs | funds | |||
| 2022 E |
2022 E |
2022f | 2022 | |||
| Phase 1B | 150,297 | 150,297 | ||||
| Restoration | and maintenance | 50,338 | 233,714 | 284,052 | ||
| Grants to | Stroud Valleys Canals Company | 36,000 | 36,000 | |||
| Western | Depot refurbishment | 15,964 | 15,964 | |||
| 216,599 | 36,000 | 233,714 | 486,313 |
| Support | Total | |||
|---|---|---|---|---|
| Costs | funds | |||
| 2023 | 2023 | |||
| E | E | |||
| Staff costs (Note | 9) | 96,434 | 96,434 | |
| Office rent and rates | 28,701 | 28,701 | ||
| Light and heat | 5,319 | 5,319 | ||
| Vehicle expenses | 8,990 | 8,990 | ||
| Insurance | 14,289 | 14,289 | ||
| Training, health and safety |
5,235 | 5,236 | ||
| Travelling | 542 | 642 | ||
| Oflice costs | 18,223 | 18,223 | ||
| Advertising | 1,232 | 1 232 | ||
| 50th Anniversaty | & Eternal Events | 4,984 | 4,984 | |
| Legal and professional | 358 | 368 | ||
| Repairs and | renewals | 12,223 | 12,223 | |
| Bad debts | 400 | 400 | ||
| Bank charges | 871 | 871 | ||
| Governance | costs | 9,509 | 9,509 | |
| 207,411 | 207,411 |
| Analysis ofsupport costs ( |
continue | d) | |||
|---|---|---|---|---|---|
| Support | Total | ||||
| Costs | funds | ||||
| 2022f | 2022 6 |
||||
| Staff costs (Note 9) | 97,174 | 97,174 | |||
| Office rent and rates | 44,877 | 44,877 | |||
| Light and heat Offfc |
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 | |||
| 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 | ||||
| Auditom' remuneration |
|||||
| 2023 | 2022 | ||||
| 6 | |||||
| Fees payable to the Charity's | auditor | for the audit ofthe Charity's | annual | ||
| accounts | 6,360 | 6,300 | |||
| Fees payable to the Charity's | auditor | in respect of: | |||
| Other services | 1,100 | 1,000 | |||
| AGM expenses | 321 | 71 |
| Staff costs | ||||
|---|---|---|---|---|
| 2023 6 |
2022f | |||
| Wages and | salaries | 91,122 | 90,807 | |
| Social security costs | 2,678 | 3,649 | ||
| Contribution | to defined contribution | pension schemes | 2,734 | 2,718 |
| 96,434 | 97,174 |
| 2023 | 2022 |
|---|---|
| No. | No. |
| Freehold | Plant and | Motor | Office | Other fixed | ||
|---|---|---|---|---|---|---|
| property | machinery | vehicles | equipment | assets | Total | |
| E | E | E | E | E | E | |
| Cost or valuation | ||||||
| At 1 April 2022 | 32,686 | 164,638 | 64,466 | 26,597 | 212,982 | 481,268 |
| Additions | 80,000 | 15,682 | 9,000 | 471 | 19,488 | 124,641 |
| At 31 March 2023 | 112,586 | 170,266 | 63,465 | 27,067 | 232,470 | 605,864 |
| Depreciation | ||||||
| At 1 April 2022 | 230 | 139,977 | 36,243 | 22,709 | 116,032 | 315,191 |
| Charge for the year | 10,675 | 9,818 | 2,602 | 16,799 | 38,894 | |
| At 31 March 2023 | 230 | 150,662 | 46,061 | 25,311 | 131,830 | 354,084 |
| Net book value | ||||||
| At 31 March 2023 | 112,356 | 19,614 | 17,404 | 1,756 | 100,640 | 251,770 |
| At 31March 2022 | 32,355 | 14,507 | 18,222 | 3,887 | 96,951 | 166,023 |
| NOTES TO THE FINANCIAL STATEMENTS | ||
|---|---|---|
| FOR THE YEAR ENDED 31 MARCH 2023 | ||
| 12. | Investments |
| Investment | ||||||
|---|---|---|---|---|---|---|
| in | ||||||
| subsidiary | ||||||
| (Cotswold | ||||||
| Canals Trust | ||||||
| (Trading) | ||||||
| Limited | ||||||
| F. | ||||||
| Cost or valuation | ||||||
| At 31 March 2023 | ||||||
| Net book value | ||||||
| At 31 March 2023 | ||||||
| At 31March 2022 | ||||||
| 13. | Stocks | |||||
| 2023 6 |
2022 f |
|||||
| 50th Anniversary | books | for resale | 5,889 | |||
| 14. | Debtors | |||||
| 2023 6 |
2022f | |||||
| Due within one year | ||||||
| Trade debtors | 5,046 | 14,570 | ||||
| Amounts owed by group |
undertakings | 14,663 | 21,655 | |||
| Other debtors | 12,571 | 342,484 | ||||
| Prepayments | and | accrued income | 16,536 | 13,957 | ||
| 48,816 | 392,666 |
| 16. | Creditors | : Am | ounts f |
alling due within one year | ||
|---|---|---|---|---|---|---|
| 2023f | 2022f | |||||
| Trade creditors | 3,877 | 18,267 | ||||
| Amounts | owed | to group undertakings | 483 | |||
| Other taxation | and social security | 1,007 | ||||
| Pension | fund loan payable | 527 | ||||
| Other creditors | 2,188 | 3,283 | ||||
| Accruals | and deferred | income | 11,774 | 9,960 | ||
| 19,329 | 32,037 | |||||
| 16. | Financial | Instruments |
| 2023f | 2022f | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Financial | assets | ||||||||||
| Financial | assets | measured | at | fair | value | through | income | and | expenditure | 1,642,072 | 972,884 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | 31 March | ||||
| April 2022 | Income F |
Expenditure 6 |
In/out 6 |
2023 6 |
||
| Unrestricted funds |
||||||
| Designated funds |
||||||
| Tangible fixed assets | 166,078 | 86,694 | 251,772 | |||
| General fund reserve |
100,000 | 100,000 | ||||
| Restoration fund |
107,803 | 40,000 | (70,200) | (14,500) | 63,103 | |
| Peter Snelson legacy | ||||||
| Golden Trow Appeal | 62,337 | 24,111 | (11,127) | (75,321) | ||
| Future projects | 612,631 | 336,439 | (1,925) | (4,679) | 842,466 | |
| 948,848 | 400,551 | (83,252) | (8,806) | 1,257,340 | ||
| Generalfunds | ||||||
| General Funds | 214,807 | 278,697 | (310,021) | 29,422 | 212,906 | |
| 214,807 | 278,697 | (310,021) | 29,422 | 212,902 | ||
| Total Unrestricted | funds | 1,163,655 | 679,248 | (393,273) | 20,616 | 1,470,242 |
| 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 | 13,946 | 157,874 | (1,285) | (20,616) | 149,919 |
| RF CRM Projects | 8,406 | (8,406) | ||||
| RF Trip Boat | 4,167 | 4,167 | ||||
| RFStacey re Eisey | 4,000 | 4,000 | ||||
| Robinson Lock |
200,000 | 200,000 |
| State | ment offunds - c | urrent year (continued) | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | Transfers | 31 March | ||||
| April 2022 E |
Income F. |
Expenditure 6 |
In/out f |
2023 E |
||
| 335,938 | 157,874 | (14,220) | (20,615) | 468,977 | ||
| Total | offunds | 1,499,689 | 837,122 | (407,493) | 1,929,219 |
| Statement offunds | - prior y | ear | ||||
|---|---|---|---|---|---|---|
| Balence at | ||||||
| Balance et | Transfers | 31March | ||||
| 1 April 2021 | Income | Expenditure | in/out | 2022 | ||
| 6 | E | |||||
| 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) | 948,849 | ||
| General funds | ||||||
| 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 Projects | 10,460 | (2,054) | 8,406 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at | Transfers | 31March | ||||
| 1 April 2021f | Income B |
Expenditure B |
in/out | 2022f | ||
| RF Trip Boat | 5,706 | (1,539) | 4,167 | |||
| RF Stacey re Eisey | 4,000 | 4,000 | ||||
| Entrust | 12,230 | 107 | (12,337) | |||
| Robinson | Lock | 200,000 | 200,000 | |||
| 270,834 | 231,330 | (153,891) | (12,337) | 335,936 | ||
| 'Total offunds | 803,161 | 1,202,349 | (505,919) | 1,499,591 |
| Summary | offunds - cur | rent year | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | Transfers | 31Starch | ||||
| April 2022 | Income | Expenditure | In/out | 2023 | ||
| F. | E | E | E | F | ||
| Designated | funds | 948,848 | 400,551 | (83,252) | (8,806) | 1,257,340 |
| General funds | 214,807 | 278,697 | (310,021) | 29,422 | 212,902 | |
| Restricted | funds | 335,936 | 167,874 | (14,220) | (20,515) | 468,977 |
| 1,499,591 | 837,122 | (407,493) | 1,929,219 |
| Summary | offunds - prio | r year | ||||
|---|---|---|---|---|---|---|
| Balance et | ||||||
| Balance at | Transfers | 31March | ||||
| 1 April 2021 6 |
Income 6 |
Expenditure 6 |
in/out | 2022f | ||
| Designated | funds | 351,866 | 632,550 | (23,549) | (12,018) | 948,849 |
| General funds | 180,461 | 338,469 | (328,479) | 24,355 | 214,806 | |
| Restricted | funds | 270,834 | 231,330 | (153,891) | (12,337) | 335,936 |
| 803,161 | 1,202,349 | (505,919) | 1,499,591 |
| Analysis | of net assets between funds - curre |
nt year | ||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | ||
| funds | funds | funds | ||
| 2023 | 2023 | 2023 | ||
| 6 | f. | |||
| Tangible | fixed assets | 251,770 | 251,770 | |
| Trade investments | 1 | |||
| Current | assets | 458,977 | 1,237,799 | 1,696,776 |
| Creditors | due within one year | (19,329) | (19,329) | |
| Total | 458,977 | 1,470,242 | 1,929,219 |
| Analysis of net assets between funds | - prior year | |||
|---|---|---|---|---|
| Endowment | Restrfcted | Unrestricted | Total | |
| funds | funds | funds | funds | |
| 2022f | 2022 F. |
2022 | 2022f | |
| 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 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| 6 | 5 | |||
| Not later than | 1 year | 13,132 | 13,470 | |
| Later than | 1 | year and not later than 5years | 1,094 | 27,996 |
| 14,226 | 41,466 |