REGIsfERED C014PANY NUM8ER: 02267719 (England and Wales)
REGisfERED CHARrrf MUMBER: 299595
LTS & BERKS CANAL TRUST
UNAUDITED FINANCIAL sfATEMENTS
FOR THE YEAR ENDED
31 MARCN 2023
'ACHXÉU4J*
w1212￿3
COMPANIES HOUSE

WILTS & BERKS CANAL TRusr
CONTENTS OF THE FXIIANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Page
Report of the Tn￿e¢S
I t(> 7
Ind•p•ndent Examinerfs Report
ststement of finan¢i•l Artiviti¢s
Statement of ￿nanCial Position
io to li
14ot¢s to the Financial Ststements
12 to 20

WILTS & BERKS C4NAL TRUST (REGisreRED NUMBER: 02267719)
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 MARCH 2023
The trustees who a￿ also dirertors of the charity for the purposes of the Companies Act 2006. present their
report wlth the finanoal statements of the charity for the year ended 31 Marth 2023. The tnjstees have
adopted the provisions of Accounling and Reporting by Charibe5'. Statement of Recommended Practice
applicable to Cha￿tIeS preparlng thelr actounts in accordan￿ with the Fmwncial Reporting Standard
applicable in the UK Jnd RepublTrc of Irdand (FRS 102) (effective I lanuary 2019).
OBJEcfivES AND AcrIvrriES
Objectives and aims
To protect, conserve and Improve the route of the Wilts & Berk5 and North Wbts Can•ls. and branches, for
the benefit of the community and environmenL wrth the uttimate goal of restorirwj a conb"nLWS navigable
waterway linkin9 the Kennet and Avon Canal near Mdksham. Wiitshire. the River Thames near Abingdon,
Oxfordshire arKI the Thames and Sevem Canal near Crfcklade. wI￿h1re.
The Trust bs Involved In the pmmob.on of the beneftt5 of restorntj.on through increasingly actrve links wtth the
local communityes. It ¥vorks c105dy with the Wlltshwe. Swindon and Oxfordshfj￿ Canal Partnership to
further restoratlon.
The Trust carries out physical restoration suth as restorfng bridges and k>cks. dredging of the unal, and
construction of the towpath of the canal 35 J walkway and nature torridor. The Trust is attively engaged in
the development of restoration projects, including the prepardtion of plan5 and drawin95. etologital and
envSronmentsl studies. and ap￿1(atiOnS for ￿annIng pemission. Some of these projects are then carrled out
by Trust volunteers, others are caffjed out by contrartors.
The Trust encourages communty ￿gageM¢Tht with the adjacent communths along the canal restot7tion
route, promotifig health and wdlb&ng and rai&n9 awarene55 of the work of the Trust e.g., via work-parties,
tslks and guided walks and via various me￿￿d5 of communication induding email updates. %Kial media. and
the Trust websSte.
The TnJ# also seeks to maxlmise the publi¢ benefits of canal restoration In a wider context SLKh as Water
management, open access for pub15c leisure. conservirvj our industrial legacy. Pron￿rIng wlldllfe diverslty
and improvin9 economic opportunibe5 along the line of the canal route.
Page I

WILTS & BERKS CANAL TRusf (R£GIsfERED NUMBEL 02267719)
REPORT OF THE TRusfEES
FOR 7HE YEAR ENDED 31 MARCH 2023
ACHIEVEMENT AND PERFORMANCE
Charitsble artivities
While the Trust's charitable al￿5 are Intentionally broad (to enable a wide wge of attivity), a substanti41
amount of actyvity (s b*'ng conducted in areas..
- Restoration of our canal. towpath and Sts structures:
In£￿aSing public and community engagerr*nL'
- Delivering Strong wbvironmental benefits and increasing biodiversty
The range of restorauon ￿￿vIty is too larye to highlight specific projects. but Trustees wish to highllght rha¢
there is significant and growing Jttivity right along the canal 14ne.
The frust reco9nises that physical restoration of our historic canal ts not enough in Itself. Support for thls,
the UK'S largest canal restoraty.on projert, will only deepen if 51gnificant local benefits are delIVe￿d. Our aim
is to ensure that a growing proportion of our I¢Kal CDmmunitr"es become actively engaged with our heritage
projert, whether by volunteering or by exwencing our canavtowpath environment as a visitor.
In 1Sne with our charitable aims. we are dear that thtre is little point in canavtowpath restoration unless it
brin9s substantial benefrt to each and every local communty along its rttute. Wbth lanje numbers of people of
all agès. ethniaties and walks of lives visltyng the canalltowpath. espKialty where thls is for the first time t
their lives. This equates to a sub#antr"al intrease in local engagement.
Example5 of the type of artivty we aim to encourage a￿ educa¥onal and trnining vtsits from
hool/college/university pupi15, youth dubs and historylheritage groups. focusing on naturelbiodiverslty,
hlstory/her4tage and engineering. This Trs in addition to feedback from a large number of people that a
tored canalltowpath would provide a rth¥ and unique letsuré and wellbeing resource.
Embedded across and within all our activity 15 ￿ absolute commitsiient to "Safety Flrstr. Our Health & Safety
ptsIiLy and procedures have been reviewed and significanyy updated, and our Chief Operating Officer is
responslble for ensuring that our Health & Safety polity and procedures are followed. The Trustees wish to
thank Jon Coates, our Chief Engineer. and Peter Thomas. our Chief Optrating Officer, for their unstintyng
work in thi5 area.
Page 2

WILTS & BERKS CAIIAL TRUST (REGzsf£RED NUMOER: 02267719)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
ACHIEVEMENT AND PERFORMANCE
Fundraisin9 artivities
Fundraisin9 throu9h the year is cruclal both to cover our core operaUn9 costs but also to provide fvnding for
our restoration artivities. By its very nature there be a time lag from aP￿Ication to receipt and particular
expertise 50 finding the right source of funds is important. With this in mind the Trust employs thè services of
an external consultant. the Marsha Mlles Consultsncy, to explo￿ and apply for grant funding on our behalf.
Our Branch Chalrs are encouraged to en9a9e wth the consultants when'seekln9 fvnds for party"cuiar projerts.
An overall vlew is kept on the relationship by the CEO.
. Our most impottsnt sources of IrKome kn.ng the year were:
l. Grants from Y￿0￿S sources (largest source by a lorfj way)
2. Donations
3. SubsCriPtlon5
4. Tradlng athvlties
5. Rent recèived
6. Glft Aid
7. Legacies
The Trustees would like to thank all our donors and all those who helped prvduce our income suppo￿n9 our
ttivities in whatever way, with special thanks to:
Awards for All
Chippenham Bomugh Lands Charity
Garfield Weston Foundation
Inland Watetways Assooation
Steel Trust
- The D'oyly Carte Charitsble Trust
- The Undenvood Trust
- The Worshipful Company of Groors
Wiltshire Community Fund
FINANCIAL REVIEW
Financial position
With total income for the year to 31 March 2023 at £313,313 (dovm from £388.533), the Acttsunts show a
small Sur￿U$ of £1,382. Whilè grants increased slightly over the year. the main cause of the drop in intome
was a substanb.al fall in donab.ons and Gift Aj'd. In very large part, this is the inevitsble ￿￿1¢ of the
generosity of many Loan Note Holders agreeing during 2021122 to convert £IIO.000 ol Peterborough Am)s
loan notes into donations whSch, in many instanos, also aitratted Gift Aid. SubscrikWlS in the year v•e
broadly stable and remain a srgnificant dement of our income mix.
Our totsl expenditure was £311.931 (up from £279.068) but it should be note(l that this Includes a £71,403
provlsion for fees payable to the Health & Safety Exeojiive relating to the acc1d￿t in 2016. Further
provisions may be requfj￿d.
The Trustees wish to thank all th05e TNho contribute to generatfjn9 income for the Trust, whether by
fundrai51ng, grant findintygiving, boat#l9, events, donatr.ons or subscriptions.
Of fvrther note is the very successful fvndrnlsing campaKJn which allowed us to purchase the Uffington Gorse
wtsodland and sectyon of canal in 2022. The Trustees thank all those who donated to thjt cause, and to all
who contributed to our 2023 Core Funding Appeal.
The Trustee5 recognise and thank the whole finan￿ Wm for thtyr and attention to detall over the
finan¢ial year. Le(1 by Brian Stovold, Trustee TreasLbrer, and Peter Wilkinson. Finance Dirthr. the Finan
Management Group met throughout the year, provided wular finanoal updates, assessed new and on90ing
financial issues, and consistentty delivered sound athl1￿ to the Trustee5 vr4 the CEO and Twsurer.
Page 3

LTS & 8ERKS CAIIAL TRUST (REGISTEAED IIUMBER: 02267719)
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 MARCH 20Z3
FINANCIAL REVIEW
Investment policy and obje¢bv•s
Wlthin the context of the Trust's resetrves policy we have no need for long term invested funds. frlowever, we
do use the COIF Charities Deposit Fund to hold restrirted funds for the short temi. In detemlining where to
hold short term funds the principle of immediate acces5 to funds 15 important alongside a cautious approach
to risk taking and ethical investment.
Mindful of the need to spread ￿Sk. the Trust has Op￿ed a separate interest-bearln9 account at Natwest,
alongside the exisb.ng ¢urrffit atttsunL to hold part of our resknded funds.
R¢serv*s policy
As part of ptudent fknancial managiynent. the Trusvs pglicy on reserves e#abli5he5 ￿e15 and type5 of
reserves that are approprfate to the needs of the Trust. The policy provides ftjr good stewardship and ècb.ve
finanual management to en5￿￿ the stabbe finanaal back9rtyJnd to the Trust as il works to deliver its
charitable objethves.
Going concern
Thè Trust has an establishèd policy to covtr unforeseen financial needs which is kept under wiew by the
Trustees In conjunrtion with the policy on reserves. The Trust ensures that its restritted funds are clearly
separatel1 from other monles and that these fvnds are only used for the purpose for which they have been
provided. Expendi￿re ¢oMMitrn￿ts Jre managed in a way that ensures that we always have funds to meet
them. The Trust alms to devdop a range of revenuè streams to support tht funding of ihe Trust's activities,
includin9 being able to ensure that the Trust can repay the outstsnding loans tsken out to finance thè
purchase of the Peterbornugh Arn￿ public house when repayment becomes due.
Contractual commitments
The TrLJSt has a contrart wrth the Marsha Miles Cortsufrancy for the ￿￿rC1ft9 and applications for fundraisirrfj
ources.
I￿uRE PLANS
The Trusvs strategy for restoration continues to be focused on the de14very of stratsgic stretthes tsf canal
(porticulady the Melk8ham Link from the K￿net and Avon Canal to Melksham. and from Royal Wootton
Bassett to Swindon which Includes the ryutial M4 Crossing). This will require a sS9nificant amount of planning,
fundrnising and restoration as well as a Sustainable core fvnding strate9y. Other important Canal stretches
include that westsyards from Jubilee Junction on the River Thames at Abingdon towards Gmve and Wantage.
although progress and the actual line wdl be strongly influenced by whether or not the SESRO reservoir is
bullt.
The Trust 15 aiming to bring signlfirant stretches of towpath into Use as a public footpathicycleway even
before restoration of the canal tself Is undertaken. the aim being to pmvide local communibes with a leisure
resQUrte that showeases the proposed canal line and raise5 lool interest and engagement with our heritsge
restoratlon project. The Trust will look to maximise the influence of the Wlttshire, Swindgn and Qxfordshire
Canal Partnership (WSOCPI, an important bo(ty made up of l(Kal COU￿1$ and other interested stakeholders.
As the Trust increases its adivity, a key thallenge is to aitrart signffitantyy more volunteers, bringlng a wide
range of skSlls. Several volunteerin9 Opportunities exisL both for "muddy boots" and "clean shoes roles, and
the Trust is especlally keen for volunteers to become actively involved in 5ubJectslskills/areas about which
they are deeply enthused.
We alm to Increase the sizp of the Truses membership from its cur￿ftt baseline of 2300 members So beyond
3000, and to Increase the proportiort that artively contdbute to the restoration by Volunteering thebr time.
STRUrnIRE, GOVERIIANCE AND MANAGEMENT
Governin9 docun￿nt
The charity is controlle(I by its governing documen¢ a deed of trusr and consti￿te5 a limited comp)ny,
limited by guarantee. as defined by the Companies Art 2006.
Page 4

LYS & BERKS CANAL TRUST (REGISTERED NUMBEL. 02267719)
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 MARCH 2023
srRUCTUR4 GOVERNANCE AMD MANAGEMENT
Trustees
As at 31 March 2023. the Trusi had 7 Trustees, some of whom have speofic areas of responsibllity (Chair,
Company Secretsry, Treasurer. Hearth & Safety. ￿sk}. To encourage independence
and
Chall￿gIn9-but-pO5Sty"ve mindset. Trustees are encouraged to ask for any Informatlon and clarificab.ons they
feel would be helpful.
. New trustees are co-opted by the ¢urrEnt Trustees arKI subsequ•)ty confimied through election by members
at a general meeting. Tnduction of new tnjstees is managed by the Chair. due diligen￿ having previously
bea) undertaken. They are giv￿ documentabon mandate(I by the Chanty Commission alon9 with other
important documents and access to the W8￿ information management System. Afi Trustees (new ant1
exlsting) a￿ reqUI￿d to complete and sign a Declarnb"on of Interests forn) eath year.
Organisational slrurture
Ovefall ￿pOnsIbIlity for the mana9unent of the Trust lies with the Tnjst CoLrriI (formedy known a5 Board
of Trustee5), whose members are tonfirmed at the next weral meebng following Co-optionlappointment
and then re-elected in rotstr"on.
Officer5 of the Trust Counol include a Chair. and TreaSU￿r. Thrèe
organisations namdy- The Inland Waterways Atyociatitin, Canal & River Trust and The wiltsh1￿. Swindon &
Oxfordshlre Canal Partnership IWSOCP) have the righf under the Trust's A￿cleS of Asso¢iation to nominate
person to become a trustee. During this year the CRT have taken up that rlghL A senior mernber of the IWA
slts gn Trust Council and provides Jn invaluable link into the IWA.
The WSOCP Is a poll￿tal and Itsc￿ authority forum to pmmote the restoratson of local abandoned can41s. The
Trust maintsins close links and regular contart with thè WSOCP. Chair to Chalr and throu9h Ken Olivw, our
part-time employed Partrership Officer. whose role is to deepen links beiween the Trust, Councils and other
partners, and to stimulate canal and towpath ￿$toratiOn activ￿ right along our canal line.
Generalty meeting bi-monthly (or more often as required). Ihe Trust Council hJ5 speafic responsibility in 3
areas, namely Overarthlng Strategy. Governan￿ (especially regarding the Chadty Commission, Companies
House, Flnance. Health & Safety. Pisk and transparent deci5ion-maknng). and Public Advocacy amon9St
nation4l/regional bodles.
Reporting to the Trust Counal is our Board of Direttors. Led by our Chlef Executive Officer. thi5 is a group of
6-8 pe*)ple each having da￿C funrtfjona11departrr￿ta1 reSponsi￿lI￿e$ {e.g. CEO, COO,
Pinance,
Engineering. Developmen¢ Marketin9. Adfflin & Govemance). Fomied during eatly 2023, the key aim being
to separate Govemante from operational matters. the Board of Directors is collectively charged with making
the Trusys operatitsnal decisions.
The Trustees w15h espeoally to thank Mike Gibbln. our Chief Exec￿l¥e Officer who Joined us th January 2023,
for hls eneryy. deterrn1nat￿n and leadership.
We also have a knowledg*share forum. our Executive Committee, a group of 2fv25 people from right across
our canal Ilne that meets monthly. WherÈ need arises. subgroups are fom)ed comprisin9 members from the
Trust Counol. Board of Directors ant1 ExeCu￿We Committee to tsckle Sp￿fir issue5.
In addltion to the Central rnanè9￿ent of the Trust thtre art S hxal bronches sKtuated along the canal route,
each of whlch has a Chair and Treasurer.
All actyvities of the Trust arÈ organisÈd and lar9* managed by volunteer5. The Trust has three part-time
employees aSSb5ting with administraty"on.
The Trust Is affiliated with. and is a Member of. the Inland Waterways Association. The Trust has a150 joined
the IWA'S "Fund Britsin's Waterways. campaign. to lobby Government and other public bodles to increase
(not cut) lunding of maintenance and restorntion of the canal network.

WILTS & BERKS CANAL TRUST {REGisfERED NUMBEIL. 02267719)
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 MARCH 2023
srRucfuR¢ GOVERNANCE AND 14ANAGEMENT
Risk management
The Trust Council conducts its own reviews of the major risks to whith the dwr6ty is exposed and systems
have been estsblished to mitigate those rfsks. The TNst Counol revlews and agrees periodically the Risk
Register. A thorough revlew of the Risk Re9iSter is currently being undertsken by Nahom Russom, our Risk
Manager, supported by Oliver Mackie a recently co-opted Trustee- both are risk professionals.
REFERENCE AND ADMINIsfRATIVE DETAILS
Re9iStered Company number
02267719 (England and Wales)
Registered Charlty number
299595
R¢gist•red office
Dauntsey Lock Canal C*
Dauntsey Lock
CHIPPENHAM
Wiltshire
SN15 4HO
Trurtees
Current and appointed in the period
Stephen Bacon
John Henn
Martin Ho11155
Justin Lewis
Chades Nettlefold - Resigned 10111122
Brfan Stovold
Jennlfer Str4tton
Toby Green - Appointed 18104122. Resigned 02IOV23
Gordon Olson - Appointed 01109122. Re5i9ned 31112122
Mark Evans - Appointed 13112122
Company Secretary
Stephen Bacon
Independent Examiner
Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SNI 48G
Page 6

WILTS a BERKS C414AL TRusf (REGXSTeRED NUMBER: 02267719)
REPORT OF ThE TRusfEES
FOR THE YEAR ENDED 31 MARCH 2013
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Uoyds Bank Pl¢
5 High Street
Swindon SNI 3EN
Not West pk
45149 Broadmead
Bristol BSI 3EU
CCLA Investment Managers
Senator Housè
85 Queen Victorfja St
London EC4V 4Lr
Approved by order of the board of trustees on 18 August 2023 and signed on its behalf by..
Mr M C Holllss - Trustee
Page 7

INDEPENDENT EXAMZNER'S REPORT TO THE TRusfEES OF
LTS & BERKS CANAL TRUST
Ind•pendtnt •xam1M￿S report to th• trustees of Wilts & Be￿ Canal Tn￿t ('the Companv.)
I report to the charity trustees on my examination of the ac¢ounts of the Company fvr the year ended
31 March 2023.
Responslbilities and b•sbS of report
As the charfty's trustees of the Company (and also ts direrttsrs for thè purposes of company law) you a
responsible for the preparation of the accounts in accordance with ￿ requioments of the Companle5 Act
2006 {'the 2006 ACV).
Having 5Jtlsfled mFelf that the atrounts of the Coffwny are not required to be auditsd under Part 16 of the
2006 Att and a￿ eligible for Sndepentlent examination. I report in respect of my examination of your
charity's accounts as ¢arried out under Secbon 145 of the chadty.es Art 2011 ('the 2011 Act,). In caryln9 Out
my examinat5on I have followed the ￿reCtIonS 9iven by the Charity Commission under Se¢tir*n 145(5) Ib) of
the 2011 Art.
Independent examlner's ststement
Since your cha￿ty,5 gross income exceeded £250.000 your exarThner be a member of a listed body.
can CLinfimi that l am qualified to undertake the examination because I am a m￿ber of the Association of
Chartered Cerbfied Accountants, whith is one of the Ilste(I t￿lies.
I have completed my exa￿￿naU0n. I confim that no matteTS have come to my attention in connection with
the exarnMwDon giving me cause to belleve:
accounting records were not kept In respett of the Company as reQU￿d by Section 386 of trt 2006
Art,. or
the accounts do not accord with those records: or
the accounts do not comply with the accountin9 requirements of Se¢bon 396 of the 2006 Att Other
than any requSrement that the accounts 9Nè a true and fair view whlch is not a matter considered as
part of an independent examinaty"on; or
the accounts have not been prepared in accordance with the rnethods ond principles of the Statement
of Recommended Pracbce for accountyng and reporting by charibes (applicable to chartties p￿ParIng
their accounts in accordance with the Pinanoal Rep)￿ng Standard applicable in thè UK and Republic
of Irdand (FR5 1021).
I have no concerns and have come across no other matters in connertion with the examinabon to which
attenbon Should be drawn in thls report in order to enable a proper understsndin9 of the accounts to be
reached.
lan Sumbler FCCA
Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SNI 4BG
Page 8

WILTS & BERKS CANAL TRvsr
srATEMENT OF FZNANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
2023
Total
funds
2022
Totsl
fvnds
fvnds
fijnds
INCOME AND ENDOWMEIITS FROM
Donats"ons and legaoe5
159.187
107.372
266,559
355,672
Other tradlng acknvitle5
Investment income
29.086
1668
29.086
17,668
21,833
11.028
15,000
Total
190,941
121372
313,313
388,533
EXPENDITURE ON
Raising lunds
6.951
738
7,800
Chaptable actlvities
Restorats"on
Fundr4i5ing & publicity
Managernent and admin
57,648
3.582
230,875
64,094
3,582
236,566
74.757
1,608
194,903
5.691
Total
299,056
11875
31¥931
279,068
NET INCOMÉ/(EXPENDITURE)
other rowgnised gainsl(losses)
Gains on revaluauon of fixed assets
(108.XlS)
109,497
1.382
109,465
142,319
Net movem¢nt in fvnd$
(108,115)
109,497
1,382
2SI,784
RECONCILIATION OF FUNDS
Total fvnds brought forward
645.681
249.919
895,600
643.816
TOTAL FUNDS CARIUED FORWARD
537.566
359rt16
896,982
895,600
The notes form part of these finanoal 5tstements
Page 9

WILTS & BERKS CANAL TRusf (REGrsrERED NUMBER: 02267719)
srATEMENT OF FINANCIAL POSIT1014
31 MARCH 2023
2023
Total
funds
2022
Total
funds
funds
fvnds
FIXED ASSETS
Tangible assets
li
633.820
116.313
750,133
683.231
CURRENT ASSErs
Stocks
Debtors
Lnvestments
Cash at bank
12
13
14
1.937
19.997
L937
19.997
101,415
213,731
1,937
60,467
105,116
202,075
101,415
141,688
7I043
93.977
243.103
337.080
369.595
CREDITORS
Amounts falling due wlthln one year
15
(25.828)
(25.828)
{53,7261
NET CURRENT ASs￿s
149
243.103
311.252
315,869
TOTAL ASSETS LESS CURRENT
UABILMES
70L969
359.416
1.061.385
999.100
CREDLTORS
Amo¢Jnts falling due after more one
vear
16
(93.000)
(93.000)
1103,5001
PROVISIONS FOR UABILMES
(71.403)
{71.403)
537.566
359,416
896,982
895.600
FUNDS
Unrestrirtad funds:
General fund
Revaluation
19
395,247
142,319
503,362
142,319
537,566
645,681
Restricted funds
359.416
249,919
TOTAL FUMDS
896,982
895,600
The charitable company Is entiued to ex*mption from audbt Section 477 of thè Companies Act 2￿6 for
the year ended 31 Marth 2023.
The member5 have not required the company to obtairt an audit of its finanoal ststements for the year ended
31 March 2023 in accordance with Seclion 476 of the Companies Art 2006.
The notes form part of these ftnanaal 51atar*nts
Page 10
¢oniinued..-

WILTS & BERKS CANAL TRUST (REGrsrERED NUMBÉR: 02267719)
srATEMElff OF FIP4ANCIAL POSThIOII- continued
31 MARCH 2023
The trustees acknowledge their responsibilib.es for
ensurin9 that the charitsble tompany keeps accounting records that compty wlth SeC￿ons 386 and
387 ofthe Companies Att 2006 and
preparing financial 5tstements which give a true and fair vieY• of the stste of affairs of the charitsble
¢tsmpany as at the end of each financ4al year and of its surplvs or deficit for each fjnantial year in
attordance with the requirements of Sectitsns 394 and 395 and which otherwise comply with the
requlrements of the Companies Art 2006 relating to financial sk*ments. so far as applicable to the
chaitable Company.
Ib)
The financial ststements were approved by the Board of Trustees and authorfsed for issue on 18 August 2023
nd were Signed on Its behalf by:
Mr M C Holl1￿ - Trustee
The norts ftsm part of these fina￿la1 staterr*nts
Page 11

WZLTS & BERKS CANAL 7RUSr
NOTES TO THE FINANCIAL sfATEMENTS
FOR TME YEAR E14DED 31 MARCH 2023
CHARITY JNFORMA710M
Wilts & Berks Canal Trust is a company limlted by guarnnteè and incorporated in England and Wales.
and a registered charity with the Charity Cornmission in England and Wales.
The registered office a¢Jdress is Dauntsey Lock Canal Centre. Dauntsey Lock. Chippenham. Wiltshire,
SNIS 4HD.
These nnancial statements are prewted In 8ritssh Pounds (GBP), which 4$ the chartty's fvnctional and
pre$￿tational currency.
ACCOUNTING POLICIES
oasis of preparin9 the finan¢ial Statements
The financial statements of the charitable company. whlch i5 a public benefit entity under FRS XO2.
have been prepared in accordance with the Charithe5 SORP {FRS 102) 'Accounting and Repo￿n9 by
Charitiès.. Ststement of Reeomment1ed Pracb"ce applicable to charitie5 preparing their occounts in
accordance 4yith the Financial Reportrng Standard applieable In the UK antl Republic of [￿land (FRS
102) (effective l Januwy 2019).. Financial Reporting Standard 102 The Financial Reporting stsndard
applicable in the UK and Republic of Ireland, and the Companies Art 2006. The financial ststements
have been prepared undw the historical cost convenbon. as modified by the ￿ValUation of certsin
assets.
Incom•
All income 15 recogni5ed In the statwft￿t of Finanoal Activrtles once the charity has entiyement to thè
funds. it is probable that the income will be rKeived and the att￿unt can bt measured reliably.
Expendi￿re
abllities are recognised as expenditure a5 5wn as there is a legal or constnbctive obligation
commltting the (￿rity to that expenditure. it is pmbable that a transfer of economic bÈnefits will be
required settleff*nt and the amount of the obligation can be rneasu￿d rellably. Expenditu￿ i
a¢count¢d for on accruals basis and has been da5sifiÈd under headings that a99￿gate all cost
lated to the category. Where costs cannol be direttly attributed to parbculjr headings they have
been allocated to activities on a basis consistent with the use of resources.
Tangible frAed assets
Depreciation is provided at the followlng annual ratss in order to write off each asset over its
estymated useful life.
Plant and machinery
Fixtures and fith'ngs
on cost
21Y/o on cost
Included within Freehold Property 15 land. buildings and locks. The bU1￿1n9$ and lock5 will be
depreclated once fvll restoration is complete.
Stocks
Stocks are valued at the lower of c05t and net rEalisable value. alter making due allowance for
obsolete and slow moving items.
Taxation
The Charfty Is exempt IT￿n corporation tax on its charirable artivlb"es.
Fund attounting
Unrestricted funds tan be used in accordance with the ¢h•rttable objectives at the tthscretion of the
trustees.
Pa9e 12
continued...

LTS & BERKS CAt4AL TRusr
NOTES TO THE FINAMCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES- ¢•ntinyed
Fund ateountin9
Restricted funds can only be used for particular rtskncted purrM)ses within the objects of the ¢harity.
Restrittions arise when spedfied by the donor or when fvnds are raised for particular restri¢red
purpos&%.
Further expknation of the nature and purpose of each fvnd is inclLKled in the notes to the financial
statements.
Hire purchase and leasing commitments
Rentals paid under operaung leases are tharyed to the Statement of Finartaal A¢b¥itie5 on a straight
Ilne basis over thè period of thè lease.
Pension costs and other post-retirement benefits
The charitable cornpany operates a defined ¢ontribution pension schame. Contribuuons payable to
the charitable company's pension scheme a￿ char¢Jed to the Ststement of Finantial Activsties in the
perfjod to whith they rdate.
DoThat¢d goods
Donated 9oods are rne4su￿ * fair value (the amount for whlch the asset could be exchanged)
unle$5 imprattical to do so. Goots donated for on-going use by the charity are reco9nised as tangible
fixed assets and included in the SOFA as incomSng resources when receivable. Gifts IA kind for use by
the charity a￿ included in the SOFA as income from donations when receivatAe.
Pinancial instruments
Short term debtors are measijred at trarb5artion price. les5 any inpaiment. Loans receivable are
measured inibally at fair value, net of transaction costs, and aré measurtd subsequently at amortised
cost usin9 the effecty.ve interest method. less any impaimienL
Short tem trade credi￿rS are measured at the transaction price. Other financial liabilities, includin9
loans. a￿ measured initièlty ?t fair valve. net of trènsaction costs. and are mebsurtd 5ubstquently at
amortbsed cost usSng the effectyve intwest method.
DONATIOPIS AND LEGACIES
2023
2022
Donations
Gift aid
Legacies
Grants
Subxriptions
67.219
11,981
10.561
134,944
41,854
143,729
23.724
14.870
129,906
43.443
266,559
355.672
Grants received. induded irb the atjove. are as follows:
2023
2022
Other grants
134,944
129.906
Page 13
conts"nued...

WILTS & BERKS CAMAL YRUST
NOTES TO THE FINANCIAL STATEMEP4TS- continued
FOR THE YEAR ENDED 31 MARCH 2023
OTHER TRADING ACllViTIES
2023
2022
Fundraisln9 events
Fishing licence
Boat receipts
Sales of stock
7,224
5.044
1,365
10,629
4.795
11701
9,161
29,086
21,833
INVEsfMEIIT INCOME
2023
2022
Rents re¢èived
Interest reC￿vable
15,918
1.750
10,983
45
17.668
11,028
NET INCOMEI(EXPENDtfURE)
Net lncomellexpendl￿re) is Stated after tha￿1n￿(Cre<lltyrt9l:.
2023
2022
Depreciabon - owned assets
Hlre of plant and mathinery
Other operating leases
Surplus on disposal of fixed assets
8,742
3,922
6.520
(350)
4.583
626
1,901
TRusfEES' REMUNeRAllON AND OENEFITS
The￿ We￿ rK> trusteè5' remvnerntitin or other benefits for the year ended 31 Marth 2023 nor for the
year ended 31 March 2022.
Trustees. expenses
There were no trustees. exwses paid for the year ended 31 March 2023 nor for the year ended
31 March 2022.
srAFF Co￿5
The average monthly number of wnployees during the year was as follows:
2023
2022
Admlnlstratto
No employees recetved emoluments in excess of £60,000.
Paye 14
continued...

LTS & BERKS CAIIAL TRusr
NOTES TO THE FrtlANCIAL sfATEMENTS- continu•d
FOR THE YEAR ENDED 31 MARCH 2023
INDEPENDENT EXAMINATION FEES
2023
2022
Statutory accounts prodKtlon & extern)l scrubny
1,425
1,350
1,425
1,350
10. COMPARATIVES FOR ThE sfATEMENT OF FINANCIAL ACTIVMES
Unrestritted
funds
Resrritted
funds
Total
fund5
INCOME AND ENDOWMEpifs FROM
Donations and legacies
301.568
54.104
355,672
Other trading artivities
Investment Sncome
21.833
11.028
21.833
11,028
Tolal
334.429
54,104
388.533
EXPENDITURE ON
Raising funds
7.800
7,800
Charltable activltles
Restoration
Fundraising & publlchty
Management and admin
48,993
1.608
193.225
25.764
74,757
1,608
194,903
1.678
Total
251.626
27,442
279,068
NEf INCOME
Tnnsfers between funds
Other recognised gainsl(losses)
Galns on revaluatrjn of fixed assets
82.803
(1,935)
26.662
1.935
109.465
142.319
142.319
Net movement in funds
223.187
28.597
251,784
RecoNczLZATION OF FUNDS
Total funds brought forward
422.494
221.322
643.816
TOTAL FUNDS CARIUED FORWARD
645.681
249.919
895.600
Page 15
corttinued...

LTS & BERKS CANAL TRusr
NOTES TO THE FINANCZAL sfATEMENTS- Continued
FOR THE YEAR ENDED 31 MARCH 2023
11. TANGIBLE FIXED ASSETS
FiXtu￿S
and
fittings
Freehokl
property
Plant and
machinery
Totals
COST OR VALUATION
At l April 2022
Addrtions
Impalments
640,648
51130
{1&388)
213,907
41.902
7.065
861,620
94.032
(18,388)
At 31 March 2023
674,390
255.809
7,065
937.264
DEPRECIAnON
At l April 2022
Charye for year
173,050
8,742
5,339
178,389
8,742
At 31 March 2023
181.792
5,339
187,131
NET BOOK VALUE
At 31 March 2023
674.390
74.017
1,726
750,133
At 31 March 2022
40,857
1,726
683,231
Cost or valuatfjon at 31 Marth 2023 is represented by:
Pixtures
and
fittings
Freehold
Plant and
propeity mKhlnery
Totals
Valuatlon in 2022
Cost
44,431
629,959
44,431
892,833
2S5.809
7.065
674.390
255,809
7.065
937,264
12. sfocKS
2023
12022
Stocks
1.937
1,937
13.
DEBTORS: AMOUNTS FALUNG DUE ￿114 ONE YEAR
2023
.,2022
Trade debtors
Other debtors
Prepayments and a¢¢rued irKome
6.158
9,148
4,691.
22,000
13,420
25,047
19,997
60,467
Page 16
continued.

LTS & BERKS CAIIAL TRLisr
NOTES TO THE FINANCIAL sfAYEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2023
14. CURRENT ASSEf XNVEsfMENTS
2023
2022
other.
101,415
105.116
The above relates to an amount held on deposlt with a COIF investrnent fund.
15. CREDITORS: AMOUNTS FALUNG DUE WITHJII ONE YEAR
2023
2022
other credrtors
25,828
53.726
16. CREDITORS: AMOUNTS FALLING DU£ AFfER MORE THAM ONE YEAR
2023
2022
Other loans (see note 17)
93,000
103,500
17. LOANS
An analysls of the maturity of loans is 9lven below:
2023
2022
Amounts falllng due In rn0￿ than five years:
Repayable otherwise thèn by insialments:
Other loans more 5yrs non-lnst
93.000
103,500
The al)ove loans are measured at cost In accordan￿ wlth FRS 102 section 34.90.
18. PROVISIONS FOR LIABILMES
2023
2022
Provisions
71,403
En August 2016 a volunteer of the TrL￿t died as the result of a tragic accldent at one of our sites. A5
prevlou51y reported. the HSE investigations knto the event remain 0rt90in9.
At the Balano Sheet date, the trustees a￿ aware of ongoing costs owin9 to the HSE to cover the
Investiga￿On currently stsnd at £71.403. The length of the inve5b"gation remain5 unknown, as does
the everbtual total costs, so a provision has bew made equal to the current known amounL Future
escalations in costs arè expected and Y4ill be provided until such brne a5 the investigation is Concluded
and the final setuement is known.
Page 17
continued...

LTS & BERKS CANAL TRU
NOTES TO THE FINANCIAL sfATEMENfs - continued
FOR THE YEAR ENDED 31 MARCH 2023
19.
MOVEMENT IN FUNOS
Net
movemeni
in Funds
At
31.3.23
At 1.4.22
Unrestricted fvnds
General ftjnd
Revaluation
S03.362
141319
(108,IlS)
395,247
142,319
645,681
(108,115)
537.566
Restricted funds
Restrirted
249.919
109.497
359,416
TOTAL FUNDS
895.600
1.382
896,982
Net movement In fvnds. induded in the above a￿ as follows:
Incoming
Resources
expended
Movement
in fund5
Unrestrirted funds
Gtrteral fund
190.941
(299,056) (108,115)
R¢#rict•d funds
Restricted
122,372
{12.875)
109.497
TOTAL FUNDS
313,313
(311,931)
1.382
Comparatsves for movèment in funds
Net
movement
in fvnd5
Transfers
btheen
funds
At 1.4.21
31.3.22
Unrestricted funds
General fiJnd
Revaluation
422.494
82.803
142,319
(1,935)
503,362
142.319
422.494
225.122
{1,935)
645,681
Restrict•d funds
Restricted
221.322
26.662
1,935
249.919
TOTAL FUNDS
643,816
251.784
895,600
Page 18
¢tsntinued.-.

WZLTS & BERKS CANAL TRusr
NOTES TO THE FINANCIAL sfATEMEIITS- continued
FOR THE YEAR ENDED 31 MARCH 2023
19. MOVEMEIIT IN FUNOS- continued
Comparative net mo¥￿ent In funds. induded in the above are a5 foliow5'.
Incoming
resources
Resourtes
expended
Gains and
losse5
Movement
in fijnds
Unrestri¢thd funds
General fund
Revaluation
334,429
(251.626)
B2,803
142.319
142,319
334,429
{251.626)
142.319
225.122
Restrirted ffunds
54.104
(27.442)
26,662
TOTAL FUNDS
388,533
1279,068)
142,319
251,784
A current year 12 months and prior year 12 ff#>nths combined position is a5 follows..
Net
movement
in fvnds
Transfers
between
fvnds
At
31.3.23
At 1.4.21
Unrestricttd funds
General fund
Revaluation
422.494
(25,312)
142,319
(1.935)
395.247
142,319
422.494
117.007
(1.935)
537,566
Re5fri¢ted lunds
Restrirted
221.322
136.159
1.935
359.416
TOTAL FUNDS
643.816
253,166
896.982
A turwt year 12 months and prior year 12 months combine(I net movement in funds, induded in the
above are as follows..
Incoming
Gains and
losse5
Movement
in funds
eX￿de￿I
Unrestrirted fynds
General fund
Revaluation
525.370
(550,682)
{25,312)
142.319
142,319
525,370
(550.682)
142,319
117.007
Re5trirted fvnds
Restricted
176.476
(40.317)
136.159
TOTAL FUNDS
701.846
{590,999)
142,319
253,166
Page 19
continued...

LTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL sfATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023
19. MOVEMENT 114 FUNDS- continued
Fund n4m•
Purpose and re51rictio
Rèstricted fund
This relate5 to furKts which facilitste specific restoration projects.
20. RELATED PARTY DISCLOSURES
There We￿ no related party trJn5actions for the year ended 31 Marth 2023.
Page 20