REGISTERED COMPANY NUMBER: 02267719 (England and Wales)
REGISTERED CHARITY NUMBER: 299595
WILTS & BERKS CANAL TRUST
UNAUDITED FINANCIAL STATEMEKrs
FOR THE YeAR ENDED
31 MARCH 2025

WILTS & BERKS CANAL TRUST
CONTENTS OF THE FINANCXAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Report of the Trustees
I to 10
Xndependent Examiner's Report
Statement of Flnan¢lal Actlvltles
12
ststement of Flnanclal Position
13 to 14
Notes to the Financial Statements
15 to 25

WILTS & BERKS CANAL TRUST (REGISTERED NUMBER: 02267719)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also dlrertors of the charity for the purposes of the Companies Act 2006, present
thelr report with the flnancial statements of the charity for the year ended 31 March 2D25. The trustees
have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to charitles preparing their accounts in accordance wlth the Financial Reportln9
Standard appllcable in the UK and Republic of Ireland IFRS 1021 (effertive l January 2019).
OBJECTIVES AND ACTtvrriES
Objectlve5 and alms
The aim of the Trust is to protect, conserve and improve the route of the Wilts & Berks and North Wilts
Canals, and branches, for the benefit of the comrnunity and environment.
The Trust's flrst value and most important prlority Is 'Safety First,. The Trust is detemiined to do
everythlng possible to ensure the safety of all volunteers, employees and visitor5.
The Trust's key goal 15 to restore a continuous navigable waterway linking the Kennet and Avon Canal
near Melksham, Wiltshlre, the River Thames near Abingdon, Oxfordshire and the Thames and Sevem
Canal near Crlcklade, Wiltshlre. While most of the restored canal wlll follow its historic line, in some
Instances (e.g, at Melksham and Swindonl new canal lines are required due to development having
occurred on top of the hlstoric line.
The Trust 15 involved in the promotion of the benefits of restoration through Increasingly active links with
local communities and local councils. It also works closely with the Wiltshire, Swindon and Oxfordshire
Cana5 Partnership to further restoration.
The Trust carries out physical restoration such as restoring bridges and locks, dredglng of the canal, and
construction of the towpath of the canal as a walkway and nature corridor. The Trust Is actively engaged
in the development of restoration projects, including the preparation of plans and drawings, ecological
and environmental studies, and application5 for planning permission.
Currently, the majority of projects are carried out by Trust volunteers, whlle some are carried out by
contractors. When the Trust has larger and more complex project5, thls balance will change.
The Trust encourages community engagement with the adJ"acent communities along the canal restoration
route, promoting health and wellbeing and raising awareness of the work of the Trust e.g.1 Via
worl<-parties, talks and guided walks and via various methods of Cornmunlcation including email updates,
social media, and the Trust website,
The Trust also seeks to maximlse the publlc beneffits of canal restoration In a wider context such as water
management, open access for public leisure, conserving our industrial legacy, promoting wildlife diverslty
and irnproving economic opportLJnities along the line of the canal route.
Page I

WILTS & BERKS CANAL TRUST (REGISTERED NUMBER: 02267719)
REPORT OF THE TRUSTeES
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Charltable activitie5
Royal Patronage
We are honoured and deeply grateful that Her Majesty the Queen has chosen to continue supporting us
as our Patron. We are hoping that Her Majesty w511 grace us with a vlslt during 2026 or 2027 le.g. during
the 50th anniversary celebration5 of the founding of the Wilts & Berks Canal Amenlty Groupft predecessor
to the Wilts & Berks Canal Trust).
Charltable activitles
Whlle the Trust's charitable alms are intentionally broad (to enable a wide range of activity),
Substantial amount of activity Ss being focused into five a￿as, all dellverlng substantial public benefit:
Restoration of our canal. towpath and Tts structures recreatlng our National Heritage,.
Dellverlng substantial economlc benefit through new boat-related businesses such a5 hlre boats,
marinas, chandleries etc;
other new canalside businesses
pubs, restaurants, café,. Sncreased canalside
housing development;
Delivering community benefit especlally related to education, volunteering, health and wellbeing;
Delivering strong environmentallbiodiversity benefit through careful management of the canal,
hedgingi neighbouring wildflower meadows etc.
Reducing local flooding by enabling excess local rainwater le.g. downpipe and street runoffj to feed into
the canal line, enabling it to dissipate over a wide geographical area rather than flooding the local area,
draining farmland in the process and making it rnore produttive.
The range of Trust artivity 15 too large to highlight specific projerts, but Trustees wlsh to hlghllght that
there is 51gnificant and gmwing artivity right along the canal line.
Thls artlvity Is belng focused by our CEO towards 8 priorlty Objectlves
l. Continuing to strengthen govemance and safety: Ensuring that all our policie5 and procedures a￿
Ilne with legal obligatlons, and growlng/deepening a safety culture to ensure that they are being
followed.
2. Developing our organisation to increase capaclty: Increasing the number of volunteers wlth specific
expertise, and building teams to manage a function rather than relying on one or two very hard-worklng
indlvldLJals'
3. More active Engagement WTth our communities.. Growing programme of community awareness and
enthusiasm towards, and engagement wlth, our canal restoration project,.
Starting
major push with external stakeholders..
Building
team of
senior-level
champions/advocates who will convince influential and national decision-makers to support our canal
restoration project.
5. Restoration ProjeLts.' Increasing activity in the preparation stages and actual delivery of live projects;
Restarting Towpath Challenge.. Obtaining agreement to the route and opening of
towpath/footpath/cycleway along our canal Ilne even before the canal Is restored.
7. Significantly increasing membership
8. 2050 vislon and 5-year bu5ine55 plan: Ensuring long-term focus and laying the foundations for
large-scale grant fvndlng.
Embedded across and wlthin all our activity is an absolute commitrnent to 'Safety First,. Our Health &
Safety policy and procedures have been ￿vieWed and significantly updated, and our Chlef Operating
Officer 15 responsible for ensurfng that our Health & Safety policy and procedures are followed. The
Trustee5 wlsh to highlight the work that Peter Thomas, Chief Operating Officer, has done during the last
year to embed the 'Safety First message, alongside all Branch Chairs, Branch Health & Safety Off1cers
and Laurence Davis, Trustee wlth the Health & Safety Portfolio.
The Trust recognises that physical restoration of our historic canal is not enough in itself. Support for
this, the UK'S largest canal ro5toration pi-oject, wèll deepeii oiily if sigiiificaiit loical beiiefits are dellvered.
Our aim 15 to ensure that a growing proportion of our local communlties become actively engaged wlth
our herltage prolett, whether by volunteering or by experiencing our canalltowpath environment as a
visitor. During the year, our monthly records show an increase of 500/4 iri volunteer hour5 driven by a
desire to see improvements In thebr local stretch of canal, the environment and for the social side of
volunteering.
Page 2

WILTS & BERKS CANAL TRUST (REGISTERED NUMBER: 02267719)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
MPS and Councils (whether Unltary, County, Dlstrict, Town, and Parish) are increasingly recognisino that
our volunteer organisation Is brlnging slgnlflcant beneflt and deserves support. We are most grateful for
their growing support.
In Ilne with our charitable aims, there 15 little point in canalltowpath restoration unless it brings
substantlal benefit to each and every local communlty along Its route, with large numbers of people of all
ages, ethnicltles and walks of life visitlng the canal/towpath, especially where this is for the first time in
their life.
To achleve thls, our alm Is to slgnlficantly increase our communSty engagement artivities. Examples of
the type of activity we
aim
to
encourage
are
educational
and training vlsitS
from
5chool/college/univer5ity
pupils,
youth
clubs
and history/herltage
groups,
focusing
on
nature/biodiversity, historylherttsge and engineering. This is Sn addition tc> feedback from a large number
of people that a restored canal/towpath provides a new. unlque and most welcome leisure and wellbeing
source.
The Trust now has 9,000 Social media followers and, during 2024125, reached over 400,000 people,
largely due to growing activlty on Facebook and YDuTube. Trustees would like to thank the TrLJSt'S
Comms Team, led by Chloe Ford, for this hugely positive result.
When completed, the Wilts & Berks canal, comprislng 750 acres of linear blue-green country park, will
bring
a} huge wellbeing benefit due to our canal and Its towpath being used for leisure actlvities (estimated to
be £IDOm per annuml,.
b) significant economic benefit le5timated to be £54rn per annum when completed);
cl savings to the NHS lestbmated to be £38m per annuml due to our local populations tsking more
exercise and
d) enormous biodiversÉty benefit withln the 1900 habitats of principal importance that our canal and
towpath pass through.
The Trust now runs four trip boats (The Mary Archard, Damselflyi NLln5uch and Drbgonflyl, covering
Pewshafll, Chippenham, Melk5ham, Royal Wootton Ba55ett and Swir7don. During the year, a 2km stretch
at Royal Wootton Bassett was reopened for boating and the trip boat Nonsuch was purchased uslng
money from the Vic Miller fund. Boat trips are an excellent means of communicating the benefits of
having a live waterway and are an important community engagement artivity. An increasing amount of
boat maintenance activity is taking place, includlng painting on both Nonsuch and Dragonfly. Trustees
would like to thank Martin Palmer, Head of Boats, and all boat teams for another successful year.
The Peterborough Arms, the Trust's public house at Dauntsey Lock, has had a difficult year. Not only wa5
the B4069 (the pub's maln connection to Lyneham and Royal Wootton Bassett) closed in 2024 due to
landslip at Lyneham Banks but significant flooding occurred due to blocked road drains. We now have
new tenants, led by 5andlord Tom Khole, and it's a delight to see renewed energy and enthusiasm.
Trustees would also like to thank the Trust's team of volunteers (led by Dave Maloney) who have found
solutions to each issue turn. The 84069 landslip repair has now been completed and the road
reopened, and we are hopeful that 202516 will prove to be a good year for the pub.
Page 3

WILTS & BERKS CANAL TRUST (REGISTERED NUMBER: 02267719)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Peter Konitzer
As advised prevlously, a valued volunteer, Peter Konitzer, died in a traglc accident in August 2016 at one
of our work51tes. Once again we wlsh to express our heartfelt condolences to his family and partner.
In June 2024, after nearfy 8 years, the Health & Safety Executive IHSEI brtsught Court proceedlngs for
breach of Health & Safety legislation. The Trust pleaded guilty, was ordered to pay a £30k fine and
fvneral expenses and 15 also liable for E72k HSE investigation costs. Once again, Trustees can assure
Members, Grant Funder5 and Donors that no membership subscriptions or grants will be used to pay the
Court fine or HSE investigation costs. These will be paid from the Trust's operational artivities.
An Inquest was held in March 2025 and the Concluslon wag 'Unlawful Ki11ing'.
Having revlewed the evidence again, the Crown Prosecutbon Service (CPS) ha5 now confirmed that no
further legal action will be taken. The case is now c105ed.
Slnce the traglc accldent, the Trust has completely overhauled and improved every aspect of Its
organi5ation, particularly with ￿gard to Health & Safety and temporary works Measu￿9, extensive work
that was acknowledged by the Judge, the HSE and the Coroner. With the Trust's first value being 'Safety
First,, nothing is more important to us than the continued safety of our volunteers, employees and
visitors.
As outlinecl above, the Trust is now being managed In a highly professlonal manner, In Ilne wlth all
Health & Safety, legal and charitable requirements.
Page 4

WILTS & BERKS CANAL TRUST (REGISTERED NUMBER: 02267719)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Fundraising activitie5
Fundraising through the year is crucial both to cover our core operatlng costs but a150 to provide funding
for our restoration activltles. By Its very nature there can be a time lag from application to receipt and
particular expertise In finding the right source of funds is Important.
The Trust's contrart with Marsha Miles Consultancy lan external grant funding consultant) ended during
2024125 and an in-house fundlng team Is belng built. Trustee5 wish to extend e5peclal thanks to Ali
Arnold, lan Mitchell, Pam Canter and Patricla Clement5 for their active fundraising efforts throughout the
year.
We would like to remember Robin Clark of the Underwood Trust who dled during 2024. Robln was
long-standing supporter, contributlng core fund5 and project speclfic funds Over an incredlble 40 years.
Our Branch Chalrs are encouraged to conduct fundraising artivity within each branch and to engage with
our funding team when seeking funds for particular projects.
Sources of Income during 2024125 were, in order of importance:
l. Grants (largest Source by a long way)
2. Donations
3. Community operatlons
4. Subscrfptions
5. Gift Aid
6. Rent re￿lVed
7. Interest received
8. Legacies
The Trustees would Ilke to thank all our donors and all those who have supported our income generation
activities in whatever way. In addition to a large nurnber of individual donors, we extend special thanks
to..
Barratt Homes
Bartlett Taylor
Chippenharn Area Board
Chippenham Town Council
Delafield Charitable Trust
Reekie Charltable Trust
Rotary Club
Swindon Borough Council
The Weinstock Fund
TOE (Trust for Oxfordshire's Environment)
with funding from Grundon Waste Management
Ltd
Vale of White Horse Distrlct Councll
WateThvays Recovery Group IWRGI
Wiltshire Community Foundation
Entrust C F Hills
Garfield Weston Foundation
Inland Waterways Association IIWAI
Neighbourfy
Nineveh Charitable frust
Looking to the future, our 5-year Business Plan outllnes several million pounds of restoration actlvity and
our aim is to scale up our fundraising team, to start applylng for large grants and to increase the pace of
canal and towpath restoration.
Financial posltion
Total income for the year to 31 March 2025 was £346,705 lup from £301,945 in 20231241, and total
expenditure was £249,146 (down from £262,229 in 2023124). The Accounts show a surplus of £97,559.
Donation5, grant5 and legacles increased slightly to £218,600 (from £191,189 In 20231241. Subscriptions
in the year were stable at E42,919 and remain a significant elernerit of our income mix.
With Court and Inquest proceedlng5 relatlng to the tragic accldent in 2016 having now been concluded,
the provisiL)n for future liabilities made In our 2023124 accounts is no longer required. The actual liability
now being known, the total sum has been moved to other creditor5.
The Trustees wish to tliaiilc all IIIu5e wlio coiiliibuLe lu geiiei-aLiiiu iiicoiiie foi. Ll)e Ti'u5t, wlielher by
fundralsing, grant finding/giving, boatingi events, donations or subscriptions.
Page 5

WILTS & BERKS CANAL TRUST (REGISTERED NUMBER: 02267719)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees recognise and thank the whole finance team for their work and attention to detail over the
financial year. The team comprises Brian Stovold (Trustee Treasurer), Peter Wilkinson (Flnance Dlrector,
who stood down during the yearl, Jon G￿gory (Head of AccoLJnts), Nancy Collingborn and Viv Dipper.
The Finance Management Group rnet throughout the year, providing regular financial and cashflow
updates, asse55Ing new and ongolng flnancial issues, and consistently delivering sound advlce to the
rrustees vla the CEO and T￿asUrer, The Trustees wlsh to welcome Chris Coyle back to volunteering with
the Trust, as Finance Dirertor.
Investment policy and objectlves
Within the context of the Trust's reserves pollcyi we have no current need for long term invested funds.
Instead, we use the interest-bearing COIF Chaiities Deposit Fund to hold ￿strftted funds for the Short
term. In determining where to hold short term funds the principle of immediate acces5 to funds is
Important alongside a cautlDUS approach to r15k taking and ethlcal investment.
Mindful of the need to Spread risk, the Trust also holds a separate interest-bearing account at Natwest
alongside the existlng current account, to hold part of our restricted funds, and will open other accounts
as needed to ensure that our charltable funds are secure.
Reserves pollcy
As part of prudent attive financial management, the Trust's reseNes policy defines a mlnimum level of
reserves that is appropriate to the needs of the Trust and Is revlewed periodically. The policy provides for
good stewardship and ensures a stable financial background as the Trust delivers on Its charltable
objectives. It also help5 to erisure job security to our employees.
Going concern
The Trust ensures that its restricted funds are cleady separated from other monies and, in line with
Charity Law, that these funds are used only for the purpose fDr which they have been provided.
Expendlture commitments are managed in a way that ensures that we always have funds to meet them.
The Trust aim5 to develop a range of revenue streams to support the funding of the Trust's attivities,
including being able to ensure that the Trust can ￿paY the outstanding loans taken out to finance the
purchase of the Peterborough Arms public house when they become due in 2034.
Page 6

WILTS & BERKS CANAL TRUST (REGISTERED NUMBER: 02267719)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
FUTURE PLANS
Over the next 5 years, the Trust's strategy for restoration will be focused on the delivery of four Strategic
stretches of canal, namely
l. The Melk5ham Link from the Kennet and Avon Canal to Melksham
2. Pewsharn Waterside with 3 locks, Carpenter's Work5hopi Dry Dock and a significant stretch of in-water
canal-
3. From Royal Wootton Bassett to Swindon which includes the cruclal M4 Crossing
4. Bringing Boat5 Back to Wantage reinstating the canal from the existing junction on the RSver Thames
south Df Abingdon, under the A34 and back to Grove and Wantage.
Thbs wlll ￿qUIre a signiflcant arnount of planning, fundralslng and restOrat￿on as well as a 5UStainable
core funding strategy.
The Trust is a150 aiming to bring signlficant stretches of towpath into use as a public footpath/cycleway
even before restoration of the canal itself is undertaken. We are encouraged that every councll along our
canal/towpath line suppotts this "Towpath Challenge" initiative, the key benefit being to provide local
communities with a leisure resource that showcases the proposed canal line and ralses local Interest and
engagement with our heritage restoratlon project. There are clear common interests between this
initiative and artive travel cycleways being proposed both by Sustrans and Western Gateway.
The Trust is deepening its relationships with MP5 and Councils along our canal line, and are pleased to
report that we enjoy near-unanimous suppclrt. Where appropriate, we develop Memoranda of
Understancling with Councils, highlighting how our activity supports each Council's policies arld strategic
riorlties.
We are also developlng active Ilnks with commereial developers, the aim being for canal restoration to be
included a5 an integral part of developer plans (as Is happenlng at Wiche15towe, south Swindon},
delivering significant additional benefit to local communlties.
The Trust has active relationships with several other canal restoration Societies, the alm being to leam
from others, to openly Sha￿ our own expenen￿, and to pool knowledge for the common good.
We aim to Increase the size of the Trust's membership from its current basellne of 2300 members to
beyond 3000, and to increase the number of people that artively contrSbute to the restoration by
volunteering their time.
As the Trust increases its actlvity, B key challenge is to attract significantly more volunteers, bringing a
wide range of skills. Several volunteering opportunlties exist, br)th for 'muddy boots" and 'clean shoes"
roles, and the Trust is especially keen for volunteers to become artively involved in 5ubjects/5kills/areas
about which they are deeply enthused and for which they have experiencelexpertise.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The charity is controlled by its governing document, a deed of trust, and constitutes a limbted company,
limlted by guarantee, as denned by the Companies Act 2006.
Page 7

wrLTS & BERKS CANAL TRusr
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Trustees
As at 31 March 2025, the Trust had 7 Trustees, all of whom have speclfic areas of responslblllty, as Ilsted
below.
To encourage independence and a challenglng-but-POSltive mindset, Trustees are encouraged to ask for
any information and clarificatlons they feel would be helpful.
Durlng the year and as part of a refocusing of Trustee aetivlty, Jo Douty, Jenny Stratton, Ron Crook and
John Henn stood down as Trustees. All four brought substantlal value during their time5 as Trustees, for
whlch we extend sincere thanks. Jenny, Ron and John eontlnue to volunteer actively for the Trust.
We CLJrrently have vacancies for up to 2 new Trustees, especially for people with canal restoration
experience who live along our canal line. New trustees are co-opted by the current Tnjstees and
subsequently confirmed through election by members at a General Meeting. Induction of new trustees is
managed by the Chair. They are given documentation mandated by the Charity Commission along with
other important documents and access to the WBcf information management system, A11 Trustees (new
and exlsting) are requlred to cornplete and slgn a Declaration of Interests form each year.
Organi5ational structure
Overall responsibility for the management of the Trust Iles with the Trust Councll, whose members are
confirmed at the next general meeting following co-option/appointment and then re-elected in rotation.
Offlcers of the Trust Council include a Chair, Vice-chair Iposltlon currently vacantl, Company Secretary
and Treasurer.
Generally meeting bi-rnonthly (or more often as required), the Trust Council has speciflc responsiblllty in
2 areas, namely Strategic Advice, Governance (especially regarding the Charlty CommissiL)n, Companies
House, Finance, Health & Safety, Risk and transparent decision-makingl- Trustees also contrlbute
attlvely into Public Advocacy arnongst national/regional bodies.
Reporting to the Trust Councll is our Executlve Board. Led by Mlke Gibbln as CEO, supported by Ron
Crook as Deputy CEO, thls group has classic functionalldepartmental responsibilitie5 le.g. CEO, COO,
Finance, Englneering, Development, Marketing, Funding, Nature & 8iodiver51ty¢ Admin & Governance).
Formed during early 2023, the key aim being to separate governance frorn operatlonal matters, the
Executive Board is collectively charged with making the Trust's operatlonal decisions.
We also have a seniDr-level knowledge-share forum, our SeniDr Leadership Team, a group of 20-25
people from right across our organisation and canal line that meets monthlyi and which is chaired by our
CEO.
The Trustees wish to thank all rnembers of the Executive Board and Senior Leadership Team for their
enthusiasm, commitment and wide-ranging contribLJtions. The Tru5tee5 wish especially to thank Mike
Gibbin, our CEO, for his energy and determination. Under Mike's leadership. the Trust is increasingly
focused on addressing the most important issues and challenges.
Where need arlses, subgroups are formed comprising member5 from the Trust Council, Executive Board
and Senior Leadership Team to tackle specific Issues. During the last year, 2 Working Group5 have been
active-.
strategy Working Group.. A hlgh-level review is being conducted to understand and document the
focus and interests of large-scale grant funders. This will enable the Trust to focus future fundraising
efforts towards grant ftjnders who are most likely to support our activities. Trustees are also starting to
consider the scale of income and likely expenditure that will be needed once the canal has been restored.
Thls w111 feed into the development of a Commercial Strategy that, over the next 20+ years, will assure
the financial and operational viability of the cana1.
Advocacy Steerlng Group= The Trust now has an active public advocacy programrne, the aim being to
increase awareness, knowledge and support of the Trust and Its activity. The Advocacy Steering Group
focuses on a wlde range of people and bodies with activlty at national le.g. MPS, national charities,
national media), regional le.g. countyldistrictitown counclls) and local (parish councils, local media).
A third Working Group {Poliry Worklng Group) Ss belng set up to develop and review policies.
Page 8

WILTS & BERKS CANAL fRUST (REGISTERED NUMBER: 02267719)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
STRucfuRE, GOVERNANCE AND MANAGEMENT
Three organisations namely: The Inland Waterways Assoclation {IW A), Canal & Rlver Trust (CRT) and the
Wiltshire, Swlndon & Oxfordshire Canal Partnership IWSOCP) have the right under the Trust's Articles of
Association to nominate a person to become a Trustee. Durlng this year a senior rnember of the IWA
Ivema Lewis) sat on Trust Council, providing an important Interface wlth the IWA. The Trust Chair, Chief
Executive and IWA representative also sit on the WSOCP. The Trust Chair has regular Director-level
discussions with CRT.
The WSOCP is a political and local authority forum to promote the restoratlon of local abandoned canals.
The core role of the WSOCP is to deepen link5 between the Trust, Councils and other partners, and to
stimulate canal and towpath restoration activlty rlght along our canal line. Following local counc51
elettlons, a review of WSOCP artivlty is planned.
Branche5
In addition to the central management of the Trust there are 5 local branches situated along the canal
route, each with a Chair and Treasurer, and a Boat Team (wlth a Head of Boats) that runs the Trust's
boats.
All activities of the Trust are organised and largely managed by volunteers. The Trust has three part-time
employees covering a range of administration roles. Their work is invaluable and the Trustees extend
sincere thanks for everything they do.
Affiliatlon
The Trust Is affiliated with, and is a Member of, the Inland Waterways A55ociatlon. The Trust has also
joined the IWA'S 'Fund Britain's Waterways" campaign, to lobby Governrnent and other public bodies to
increase (not cutl funding of maintenance and restoration of the canal network.
Risk manag•ment
The Trust Council condurts its own reviews of the major rlsks to which the charity is exposed, and
systems have been established to mitigate those risks. Written Risk Assessments are prepared for all our
artivities, in line with our clearly-defined Health & Safety policy. The Trust Councll review5 and agree5
the Risk Register periodically. A thorough reviewv of the Kisk Register is currently belng undertaken by
Nike Glbbin ICEO), Nahom Russom (Risk Manager), and Ollver Mackie (Trusteel. Both Nahom Russom
and Ollver Mackie are rlsk professlonals.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02267719 {England and Wales)
Reglstered Charity number
299595
Reglstered offl¢e
Dauntsey Lock Canal Centre
Dauntsey Lock
CHIPPENHAM
Wiltshire
SN15 4HD
Trustees
Current and appolnted In the period
Steve Bacon
Company Secretary
Laurence Davis
Health & Safety
Johnnie Graham
Safeguardin9 & Policy developrnent
Martin Holliss
Chair
Justin Lewis
Strategy
Oliver Mackie
Risk
Brian Stovold
Treasurer
Company Secretary
Steve Bacon
Page 9

WILTS & BERKS CANAL TRUST (REGISTERED NUMBER: 02267719)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SNI 4BG
Bankers
Lloyds Bank PIC
5 High Street
Swlndon SNI 3EN
Nat West PIC
45149 Broadmead
Bristol BSI 3EU
cctA Investment Managers
Senator House
85 Queen Victoria St
London EC4V 4LT
Approved by order of the board of tnjstees on 22 August 2025 and Signed on its behalf by:
Tru
Page 10

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
WILTS & BERKS CANAL TRUST
Independent examiner's report to the trustees of Wllts & Berks Canal Trust ('the Company.)
I report to the charity trustees on my exarnination tsf the accounts of the Company for the year ended
31 March 2025.
Re5pon51bllities and basls of report
As the charity's trustees of the Company land also its directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requlrements of the Companies Act
2006 I'the 2006 Act'l.
Having satisfied myself that the accounts of the Company are not required to be audlted under Part 16 of
the 2006 Act and are eligible for independent examination, I report in respect of my examination of your
charity's accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 Act'l, In carrylng
out rny exatnination I have followed the Directions given by the Charity Commission under Section
145151 Ib} ofthe 2011 Att.
Independent examiner's Statement
Slnce your charity's gross income exceeded £250,000 your examiner Tnust be a member of a listed body.
I can confirm that l am qualified to undertake the examination because I am a member of the
Association of Chartered Certified Accountants, which is one of the listed bodles.
I have completed my examlnation. I confirm that no matter5 have come to my attentlon In connectlon
with the exaFnination giving me cause to believe..
accounting records were not kept in respect of the Company as required by Sectlon 386 of the
2006 Act,. or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other
than any requirement that the account5 give a true and fair view which 15 nQlt a matter considered
as part of an independent examination- or
the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities (appllcable to
charities preparing their accounts in accordance wlth the Flnancial Reporting Standard appllcable in
the UK and Republic of Ireland IFRS 102}).
I have no concerns and have come across no other matters in connection with the examination to whlch
attention should be drawn in this report In order to enable a proper understanding of the account5 to be
reached.
lan Symbler FCCA
Morris Owen
Chartered Accountants
43-45 Devize5 Road
SWINDON
Wiltshire
SNI 4BG
18 September 2025
This page doe5 not form part of the statutory financial statements
Page 11

WILTS & BERKS CANAL TRUST
STATEMENT OF FINANCIAL AcfiviTIES
FOR THE YEAR ENDED 31 MARCH 2025
2025
Total
funds
2D24
Total
funds
Unrestricted
funds
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations, Grants and legacles
128,078
148,508
276,586
246,348
Communlty Operations
Investment income
other incorne
35,165
7,984
14,116
12,853
48,018
7,984
14,116
48,480
7,117
Total
185,343
161,361
346,704
301,945
EXPENDITURE ON
Raising funds
9,428
9,428
28,217
Charltable a¢tlvltles
Restoratlon & Malntenance of Canals
Communlty Engagement
Community Operation5
General
Staff and Volunteer Costs
Depreciation and A55et Related Costs
Provisions
31,089
4,809
8,939
48,876
34,050
12,374
4,495
52,330
20
411
26,840
83,419
4,829
9,350
75,716
34,050
27,905
4,495
61,784
3,570
19,553
54, 107
34,278
17,123
43,597
15,531
Total
154,060
95,132
249,192
262,229
NET INCOME
Transfers between fund5
31,283
28,691
66,229
(28,691)
97,512
39,716
22
Net movement In funds
59,974
37,538
97,512
39,716
RECONCIUATION OF FUNDS
Total funds brought forward
521,681
415,017
936,698
896,982
TOTAL FUNDS CARRIED FORWARD
581,655
452,555
1,034,210
936,698
The note5 form part of these financial statements
Page 12

WILTS & BERKS CANAL TRUST (REGisfERED NUMBER: 02267719)
STATEMENT OF FINANCIAL POSITION
31 MARCH 2025
2025
Total
fund$
2024
Total
funds
Unrestricted
fLJnds
Restricted
funds
Notes
FIXED ASSETS
Tangible assets
14
633,277
242,154
875,431
830,226
CURRENT ASSErs
stocks
Debtor5
Investments
Cash at bank
15
16
17
1,937
47,109
1,937
47,109
211,614
139,476
1,937
23,706
106,295
207,774
211,614
139,476
188,522
211,614
400,136
339,712
CREDITORS
Amounts falling due within one year
18
(67,528)
(1,213)
(68,741)
(35,7401
NET CURRENT ASSETS
120,994
210,401
331,395
303,972
TOTAL ASSETS LESS CURRENT
LIABILITIES
754,271
452,555
1,206,826
1, 134, 198
CREDITORS
Amounts falling clue after more than one
year
19 (172,616)
(172,616)
(82,5001
PROVISIONS FOR LIABILITIES
21
(115,0001
NET ASSETS
581,655
452,555
1,034,210
936,698
FUNDS
Unrestrirted funds:
General fund
Designated fund
Revaluation
22
410,645
28,691
142,319
379,362
142,319
581,655
521,681
Restrfcted funds
452,555
415,017
TOTAL FUNDS
1,034,210
936,698
The charitable company is entitled to exemption fmm aijdit under Section 477 of the Companies Art
2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financbal statements for the year
ended 31 March 2025 in accordance with Sectlon 476 of the Companies Act 2006.
The trustees acknowledge their responsibllltles for
{a}
ensuring that the charitable cornpany keeps accounting records that comply with Sections 386 and
387 of the Companies Act 2006 and
preparbng financial statements whlch give a true and fair view of the state of affair5 of the
chadtable company as at the end of each f1nancial year and of It5 surplu5 or defiiit for each
financlal year In accordance with the ￿quIrernents of Sectlons 394 and 395 and which tstherwlse
comply with the requirements of the Companies Act 2006 relating to financial statements, so far
as appllcable to the charitable company.
(bl
The note5 ft)rm part of these financial statements
Page 13
contbnued...

WILTS & BERKS CANAL TRUST (REGISTERED NUMBER: 02267719)
srATEMENT OF FINANCIAL POSITION - contlnued
31 MARCH 2025
The finaneial Statements were approved by the Board of Trustees and authorlsed for issue on
22 Aug
st2
25 and
ned on it5 behalf by-
Mr M C Holliss Trustee
The notes forrn part of these financial statements
Page 14

WILTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CHARITY INFORMATION
Wilts & Berks Canal Trust is a company limited by guarantee and incorporated in England and
Wales, and a regIste￿d charity with the Charity Commission in England and Wales.
The registered office address is Dauntsey Lock Canal Centre, Dauntsey Lock, Chlppenham,
Wiltshire, SN15 4HD.
These ftnancial statements are presented in Britlsh Pounds (GBPI, which Is the charity's funrtional
and presentational currencrf.
ACCOUNTING POLICIES
Basls of preparing the financial Statements
The financial statements of the charitable company, which Is a public benefit entity under FRS 102,
have been prepared in accordance with the Charities SORP {FRS 1021 'Accounting and Reportlng
by Charitie5: Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland
{FRS 1021 leffectlve l January 20191,, Financlal Reporting Standard 102 'The Flnancial Reporting
standard applicable in the UK and Republlc of Ireland, and the Cornpanles Act 2006, The financial
statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Flnancial Artivities once the charity has entitlement to
the funds, it Is probable that the income will be received and the amount can be measured
reliably.
ExpendlturÈ
Liabilities are recognised as expenditure as soon as there is a legal or construrtive obligation
committing the charity to that expenditure, it Is probable that a transfer of economic benefits wlll
be required in settlement and the amount of the obligatlon can be measured reliably. Expenditure
15 accounted for Dn an accrua15 ba515 and ha5 been classified under headings that aggregate all
cost related to the category. Where costs cannot be dlrettly attributed to particular headings they
have been allocated to activitie5 on a basis consistent with the use of resources.
Tanglble flxed assets
Depreciation is provided at the following annual rates In order to write off each asset over Its
estimated useful Ilfe.
Plant and machinery
Fixtures and fittings
20Wo on cost
200/0 on cost
Included within Freehold Property is land, buildings and locks. The buildings and locks wlll be
depreciated once full restoration is complete.
Stocks
Stocks are valued at the lower of c05t and net reallsable value, after making due allowan￿ for
obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
FuTrd accountSng
Unrestricted funds can be used in accordan￿ wlth the charitable objective5 at the dlscretion of the
tru5tee5.
Restrlcted fund5 can only be used for paiticulai" reslrlcted pui'poses witliin the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised for particular
restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financbal
statements.
Page 15
continued...

WILTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIE5- contlnued
Hire purchase and leaslng commitment5
Rentals paid under operating lease5 are charged to the Statement of Financlal Activities on a
stral9ht Ilne basls over the perlod of the lease.
Penslon costs and other post-retlrement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to
the charitable company's pension scherne are charged to the Statement of Financial Activities in
the period to which they relate.
Donated goods
Donated goods are measured at falr value (the amount for whlch the asset could be exehangedl
unless irnpractical to do so. Good5 donated for on-going use by the charity are recognised as
tangible flxed assets and included In the SOFA as Incoming reSoUr￿S when receivable. Glfts in kind
for use by the charlty are included In the SOFA as income from donations when receivable.
Flnanclal Instruments
Short term debtors are measured at transaction price, less any Impairment. Loans receivable are
measured initially at fair value, net of transaction costs, and are measured subsequently at
amortised c05t using the effective interest method, le55 any impairment.
Short term trade credltors are measured at the transaction price. Other financlal liabilities,
Includlng loans, are measured Initlally at fair value, net of transaction costs, and are measU￿d
subsequently at amortised cost using the effertive interest method.
DONATIONS, GRAMfs AND LEGACIES
2025
2024
Donatlons
Gift ald
Legacies
Grants
Subscriptions
56,005
15,068
5,000
157,594
42,919
56,076
13,460
15,500
119,613
41,699
276,586
246,348
Grants recelved, Included in the above, are as follows:
2025
2024
other grants
157,594
119,613
COMMUNITY OPERATIONS
2025
2024
Fundraising events
Boat receipts
Sales of stock
Rent received
13,62Z
15,046
6,841
12,509
14,304
L6,828
6,639
10,709
48,018
48,480
Page 16
continued...

WILTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 31 MARCH 2025
INVESTMENT INCOME
2025
2024
Interest receivable
7,984
7,117
RAISING FUNDS
Operating costs
2025
2024
Merchandise
Fundraising consultancy
1,188
8,240
217
28,000
9,428
28,2 17
CHARThABLE AcfIvITIES COSTS
Support
costs (see
note 81
Dirert
Costs
Totals
Restoratlon & Malntenance of
Canals
Communlty Engagement
Community Operations
General
staff and Volunteer Costs
Depreciation and Asset Related
Costs
Provlsions
83,419
4,829
9,350
26,430
83,419
4,829
9,350
7S,716
34,050
49,286
34,050
27,905
4,495
27,905
4,495
124,028
115,736
239,764
SUPPORT COSTS
Governance
costs
Administration
Totals
General
staff and Volunteer Costs
DeP￿clatIoN and Asset Related Costs
Provlslons
27,843
34,050
27,905
4,495
21,443
49,286
34,050
27,905
4,495
94,293
21,443
115,736
Page 17
continued...

WILTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 31 MARCH 2025
SUPPORT COSTS - ¢ontlnued
Support costs, Included in the above, are as follows..
Depreciation
and Asset
Related
Costs
Staff and
Volunteer
Costs
General
Wages
Pensions
Malntenance
Rent and rates
Travel and 5ub51Stence
Telephone
Postage and statlonery
Sundries
Bank charges
Insurance
Depreclation of tangible flxed assets
Loss on sale of tangible fixed assets
Interest payab5e and similar charges
HSE provision
Accountancy and legal fees
Consultanry
33,336
714
591
538
1,433
5,016
3,597
192
1,421
11,237
29,305
(1,400)
3,818
4,514
16,929
49,286
34,050
27,905
2025
Total
activities
2024
Total
activÈties
Provisions
Wages
Pensions
Maintenance
Rent and rates
Travel and subsistence
Telephone
Postage and stationery
Sundrles
Bank charges
Insurance
Depreciation of tanglble flxed asset5
Loss on sale of tangible fixed asset5
Interest payable and similar charges
HSE provi510ri
Aecountancy and legal fees
Consultancry
33,336
714
591
538
1,433
5,016
3,597
192
1,421
11,237
29,305
(1,400)
3,818
4,495
4,514
16,929
33,564
714
1,072
127
418
4,084
4,535
225
1,633
13,231
17,123
4,034
43,597
6,949
17,799
4,495
4,495
115,736
149,105
Page 18
continued...

LTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL STATeMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
NET INCOME/(EXPENDXTURÈ)
Net Income/{expendlturel is stated after chargingllcrediting}'.
2025
2024
Depreciation - owned assets
Hire of plant and machinery
Other operating leases
Surplus on disposal of fixed assets
29,305
1,896
3,332
(1,400>
17, 123
4,477
8,733
10. TRusfEES' REMUNERATION ANO BENEFrrs
There were no trustees, remuneratlon or other beneflts for the year ended 31 March 2025 nor for
the year ended 31 March 2024.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended
31 Narch 2024.
11. STAFF COSTS
2025
2024
Wage5 and salaries
other pension costs
33,336
714
33,564
714
34,050
34,278
The average monthly number of employees during the year was as follow5..
2025
2024
Administration
No employees received emoluments in excess of £60,000.
12. INDEPENDENT EXAMINATION FEES
2025
2024
statutory accounts production & external scrutiny
1,890
1,800
1,890
1,800
Page 19
continued...

WILTS & BERKS CANAL TRusr
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestritted
funds
Restricted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations, Grants and le9acles
145,941
100,407
246,348
Community Operatlons
Investment incorne
37,737
7,117
10,743
48,480
7,117
Total
190,795
111,150
301,945
EXPENDITURE ON
Raising funds
28,217
28,217
Charitable activlties
Restoration & Maintenance of Canals
Communlty Engagement
Communbty Operatlons
General
Staff and Volunteer Costs
Depreciation and A55et Related Costs
Provisions
31,658
3,274
14,840
47,563
34,278
7,253
43,597
30, 126
296
4,713
6,544
61,784
3,570
19,553
54, 107
34,278
L7,123
43,597
9,870
Total
210,680
51,549
262,229
NEf TNCOME/(EXPENDITURE}
Transfers between funds
119,885)
4,000
59,601
14,000)
39,716
Net rnovemtnt In fund$
115,885)
55,601
39,716
RECONCIUATION OF FUNDS
Total funds brought fornard
537,566
359,416
896,982
TOTAL FUNDS CARRIED FORWARD
521,681
415,017
936,698
Page 20
continued...

WILTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
14. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Freehold
property
Plant and
machinery
Totals
COST OR VALUATION
At l April 2024
Addltlons
Disposals
704,580
30,028
316,726
43,614
(1,799)
13,174 1,034,480
868
74,510
(1,799)
At 31 March 2025
734,608
358,541
14,042 1,107,191
DEPRECIATION
At l April 2024
Charge for year
Eliminated on disposal
19B,915
29,268
(1,799)
5,339
37
204,254
29,305
(1,799)
At 31 March 2025
226,384
5,376
231,760
NET BOOK VALUE
At 31 March 2025
734,608
132,157
8,666
875,431
At 31 March 2024
704,580
117,8LI
7,835
830,226
Cost or valuatlon at 31 March 2025 is represented by..
Flxtures
and
fittlngs
Freehold
property
Plant and
machinery
Totals
Valuation In 2022
Cost
142,319
592,289
142,319
964,872
358,541
14,042
734,608
358,541
14,042 1,107,191
15. STOCK5
2025
2024
Stocks
1,937
1,937
16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade debtors
Other debtor5
Prepayments and accrued income
3,154
22,890
21,065
615
19,912
3, 179
47,109
23,706
Page 21
continued...

LTS & BERKS CANAL TRUST
NOTES TO THE FfNANCIAL STATEMENTS- ¢ontlnued
FOR THE YEAR ENDED 31 MARCH 2025
17. CURRENT ASSET INVESTMENTS
2025
2024
other
211,614
106,295
The above ￿lateS to an amount held on deposit with a COIF investment fund.
18. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
2025
2024
Bank loans and overdrafts {see note 20)
other creditors
HSE Liabllity
1,213
58,528
9,000
35,740
68,741
35,740
19. CREDITORS: AMOUNTS FALUNG DUE AFTER MORE THAN ONE YEAR
2025
2024
Other loan5 (see note 20}
HSE Liability
80,500
92,116
82,500
172,616
82,500
20. LOANS
An analysis of the maturity of loans Is given below:
2025
2024
Amount5 falling due within one year on demand:
Bank overdrafts
1,213
Arnounts falling due in more than five years:
Repayable otherwise than by instalments..
other loans more than 5 years
80,500
82,500
The above loans are rneasured at C05t in accordance wlth FRS 102 section 34.90.
21.
PROVISIONS FOR LIABILITIES
2025
2024
Provislons
115,000
In 2016 a valued volunteer, Peter Konitzer. died in a tragic accident at one of our worksites. We
wish once again to express our heartfelt condolences to his family and partner.
Nearly 8 years later, the Health & Safety Executive (HSE) brought Court proceedings in June 2024
for a breach of Health & Safety legislation. The Trust pleaded guilty and was ordered to pay a
£30k fine and funeral expenses, and Is also liable for £72k HSE investigation costs. The charity has
agreed payFnent plans with the Court and thc IISE lover 5 ond 24 yoars, rcspcctively}. Payments
have already been rnade agalnst the Ilability totalling £18,378, of which E14,IL6 of insurance
proceed5 were recelved and paid out.
Page 22
continued...

WXLTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
21.
PROVISIONS FOR LIABILITIES - eontlnued
With Court and inquest proceedings having now been conclLided and the actual outcome now
being known, the provlsidn for future liabilities rnade in our 2023124 accounts to cDver the Court
fine and HSE costs is no longer required. The actual liability has therefore been move to other
creditor5.
22. MOVEMENT IN FUNDS
Net
movement
In funds
Transfers
between
funds
At
31.3.25
At 1.4.24
Unrestricted fund5
General fund
Designated fund
Revaluatlon
379,362
31,283
410,645
28,691
142,319
28,691
142,319
521,681
31,283
28,691
581,655
Restricted fund5
Restritted
415,017
66,229
(28,691)
452,555
TOTAL FUNDS
936,698
97,512
1,034,210
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlcted funds
General fund
185,343
(154,060)
31,283
Restrlcted funds
Restrirted
161,361
(95,132)
66,229
TOTAL FUNDS
346,704
(249,192)
97,512
Comparatives for rnovement In funds
Net
movement
in funds
Transfer5
between
funds
At
31.3.24
At 1.4.23
Unrestrlcted funds
General fund
Revaluation
395,247
142,319
(19,885)
4,000
379,362
142,319
537,S66
(19,8851
4,000
521,681
Restrlcted funds
Restricted
359,416
59,601
14,0001
415,017
TOTAL FUNDS
896,982
39,716
936,698
Page 23
continued...

WILTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
22.
MOVEMENT IN FUNDS- contlnued
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlcted funds
General ftjnd
190,795
1210,6801
(19,8851
Restricted funds
Restricted
111,150
(51,549)
59,601
TOTAL FUNDS
301,945
(262,2291
39,716
A current year 12 months and prior year 12 months combined posltion Is as follows..
Net
movement
In funds
Transfers
between
funds
At
31.3.25
At 1.4.23
Unrestrl¢ted funds
General fLJnd
Deslgnated fund
Revaluation
395,247
11,398
4,000
28,691
410,645
28,691
142,319
142,319
537,566
11,398
32,691
581,655
Restricted funds
Restricted
359,416
125,830
132,6911
452,555
TOTAL FUNDS
896,982
137,228
1,034,210
A current year 12 months and prlor year 12 month5 combined net rllovement In fund5, included in
the above are a5 follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
376,138
1364,740)
11,398
Restrl¢ted funds
Restrfrted
272,511
(146,6811
125,830
TOTAL FUNDS
648,649
{511,421)
137,228
Fund name
Purpose and restrictions
Restricted fund
This relates to funds which facilitate specific restoration projects.
Page 24
continued...

WILTS & BERKS CANAL TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 MARCH 2025
23. RELATED PARTY DISCLOSURES
There were no related party transattlons for the year ended 31 March 2025.
Page 25