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##
|||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||||||
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||||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|
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||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|
##
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||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|
##
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##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2023|
||||F.|
|Lottery prizes||4,800|4,800|
|Advertising|and promotions|18,602|18,602|
|||23,402|23,402|
##
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|||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|
##
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##
||||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|
##
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##
||||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|
##
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##
|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|
##
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##
|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.|
##
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##
||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|
##
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##
|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|
##
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##
|||||||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|
##
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##
|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|
##
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##
|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|
##
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##
||||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|
##