THE MONTGOMERY WATERWAY RESTORATION TRUST COMPANY NUMBER 1508017 REGISTERED CHAIUTY NUMBER 510448 STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31" OCTOBER 2020
THE MONTGOMERY WATERWAY RESTORATION TRUST INDEX TO THE ACCOUNTS Company Inforniation Trusi Committee Report Consolidated Balance Sheet Consolidated Stalemeni of Financial Activities Notes to the Accounts Montgomery Waterway Restoration Tnt". Balancc Sheet Statement of Financial Activities Friends ot. the Montgomery Canal: Balance Shc Statement ot'Financial Activities 10 The Montgomery Triathlon.. Balance Sheet Statement of Financial Activities 12 13 Independent Examiner's Report 14
THE MONTGOMERY WATERWAY RESTORATION TRUST COMPANY INFORMATION TRUSTEES Chaimian M.S.Limbrey MBE Vice-chaitrnan Mrs Y.L Holyoak Secretary R.A.Dewey Treasurer N.S.G.B05t(Kk DL. FCA Other Trustecs D.J.P.Famier MTS C.E. Palin C. Bu5hnell M.A. Handford REGISTERED OFFICE Talbut House 11-15 Market Street Shrewsbury Shropshire SYI ILG BANKERS HSBC plc The Cr05S Oswestry Shropshire SYII 2SR
THE MONTGOMERY WATERWAY RESTORATION TRUST TRUST COMMITTEE REPORT 31# OCTOBER 2020 The Trust Committee preseni their report and financial slalements for the year ended 31" October 2019. Princi l Activi ICh8ritAble Ob ectlves The principal activity of the Company in the year was promoting th¢ restoration to good and navigable order and condition of the Monlgomery am) of the Shropshtre Union Canat running trom We15h Frankton Tn the county of Shropshirc to Newtown in the county of Powys and any branch¢s therf. for the use and benefit of the public. Following the launch of an appeal l&st year to nd the reinstalement of Schoolhouse Bridge, Crickheath. over £300,000 has been raised in donations and promiscs. This is Ihe last public road bridge blockage in Shropshirc. and work began in 2020 with completion in 2021. This will continu¢ the reslor&tion of the canal beyond the National Lottery Heritagc Fund £4 million projccl to rcopcn a fijrther 2 mil¢s of cwial from Maesbury to Crickhcaih. Planning is in progtyes5 for th¢ restoration of the remaining 2 mile dry 5ectton in Shropshirc to connecl with the c&nal in wgter on the Welsh border al LlanJThyneLh. Meanwhile, the Trusi continues lo organise a ¥omprehensive programme of community events and activities. A notable event is the annual Triathlon along the eniirc canal which is organised by Th¢ Friends of Ihc Montgomery Canal, an organization of local people atTiliated lo the Trust. though this was not hcld in 2020 due lo the Covid 19 pandemic. In dcciding what a¢livities lo undertak¢. the Trustees have paid due regard lo the Charity Commission guidancc on public benefit. . Reserves Polic The reserves in unrestricted funds will Maintain lo cover a minimum of two years aclivily. Thi5 designalion is in addition to such rescrves. including those in restricted fimds, as the Trustees consider nSary to med forthcoming obligations and commitments. Safe uardin Policies and Procedures The various policies and statements that apply to membcrship 8nd volunteering with the Trust are in place and are reviewed annually. Th&e encompass health & safY, equal opportunities, equality and diversity, the environm¢nL education & trdinin& and youns persons & vulnerable adult pn)teoion.
Directors The Dirertors of the Company are defined as the TnteeS (see company infotmation). None of the TnteeS have any beneficial interest in the Company. Small Com an Exem tion This report is prq)ared in acrdanCe with the special provisions relatin8 lo small companies within Part I S of the companies Aci 2006. The TteeS consider that an audit is not rcquired for this year under sl0n 43 (2) of the Charities Act 1993, but that an independent examination is needed. Approved by the Board of Tntee$ and signed on their behalf: M S Limbrey Chairman l March 2021
THE MOKfGOMERY WATERWAY RESTORATION TRUST CONSOLIDATED BALANCE SHEET AS AT 31st OCTOBER 2020 Note 2020 2019 FIX Assets Tangible Fixed Assets 4.286 2,221 Current Assets: Stock and work in progress Debtors and Prepayments Bank balances CUrn1 Account Deposit ACUnt Cash in hand 35.884 10,875 23 13,552 52,041 324.847 71,564 154.570 31 239.740 423.686 Current Liabilities.. Creditors.. Amounts falling duè wthin one year -11.267 Nel Current Assets 412.419 239,631 Total N•t Asset• £416.705 £241,852 Repros•nt•d by: Restricted Funds Unrestricted Funds 398.778 19,927 £416.705 on unaudlt•d Accounts 222,181 19.671 £241,852 Dlr•ct Stat•m In w8parin9 thè$0 Fnar 51atements'. For the year ènding 31110120 the company was entth to exempt¥)n under section 477 of tho Companies Acl 2006 relating ¢0 smdl companies. No members have QuIred the company lo obtain an audrt of its xcaxjnts for the year in questlon In acc¢x¢ance wllh SelOn 476 of the Compan5 Aci 2U*. The direclors acknovAedge their responsibnleS for Compjng %wth the requirements of I Act with res¢1 lo accounting records and for the paratiOn of accounts. Tho Financi81 Slalements re appVed by the Board of Trustees on 1 March 2021. M.S. Limbrey Chairrnan N.s.G.BoStk Treasurer The notes on pages 6 10 7 form part of th8se ffinancial ststements.
THE MONTGOMERY WATERWAY RESTORATIOII TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTtVlTIES FOR THE YEAR ENDED 31st OCTOBER 2020 unrestrict Restricted 2020 FundB Funds Total 2019 Total Incoming Resources Voluntary Income Membership yubscriptKJns Donations Gift AKJ - Inland Revenue 1,871 1.717 512 1.871 1.891 178,992 180,709 1 D8,626 8.550 9,062 13,176 Incoming Resources from Charitable A¢tTVrti8s and Fundraising 1.512 Other Incorn• Bank inlefest 276 276 191 Total In¢omlng RQUre•S 5,534 187,896 193,430 132,972 Rwourcm Exp•nd•d Cosi$ of 9?ratIng funds Goods for sale Charitable 6xpendilure Publiclly Support costs 101 101 1.377 2,K11 28 1.405 14.170 17.071 33,240 Total R•8our¢M Expènd•d 4,278 14,299 18,577 36,792 N•t In¢omlng RMourc•s 1,256 173,597 174,853 96,180 Total Funds bought forward 19,671 222,181 241,852 145.672 Trnngf•r to Ro•trb¢t•d Fund• Total Fund8 carrlod fonY•rd £19.927 £396,778 £416,705 £241,852
THE MoiYfGOMERY WATERWAY RESTORATION TRUST Notes forming part of the Consolidated Fingncial Statements for the year ended 31. October 2020 l. Aecountlng Policies In prcpuring these financial siaiements: For the year ended 31 October 2020 Ihc company was entitled to exemption from audit under seclion 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of Ihese financial 5tat¢menis under ihe requirements of the Companies Act 2006. The trustees acknowledge thcir responsibilities for ensuring that the company keeps accounling rccords which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the ¢ompany as ai the end of the financial year and of its profil or loss for the financial year in accordance with Ihe requirements of sections 394 and 395 and which otherwise mplY with ihe requirements of the Companies A¥1 2006 relating to aLcounis, so far as applicable to the Company. These financial siaiements have been prepareA in acwrdance with pmvi8inns appIlbIC lo companie5 subje¢l lo the small companies regime within Pan 15 uf the Companies Act 2006. with the Financial Rqx)rting Standard for Smaller Enterprises (effectivc April 2008). and with Thc Accounting and Reporting by Charities - Sialemeni of Recommended Practice (SORP 2005). b) The acLounts incorporate the results of Montgomery Canal Reconstruction Ltd, a wholly owned subsidiary company fornjed on 30 May 2018, and Th¢ Friends of the Montgomery Canal, a branch of the company sel up in December 2001 as a membership sechon. 2. Sh8re Capltal The company is incorporated as a company limited by guarantee and does not have a wholly owned Share Capital. The liability ofLa¥li Iiiwiibrr ib fixul a( amuunt not to exceed £1. 3. Tallgiblc Fixed Assets Tangible fixed asscts costing more than £5(K) were capitalised as at l Novernber 2009 and included al Lost Icss drlatIOn at IOO/o p¢r annurn on cost. Additions since are treaied on the same basis.
THE MONTGOMERY WATERWAY RESTORATION TRUST Not•s formlng part of the Consolldat•d Financial Stat•m•nts for the yoar to 31st OCtor 2020. 3 Icontl Cost At 1st NoveiTib¥r 2019 Addrtions At 31st October 2020 8.112 2.600 31,312 Doprociatlon Al 151 November 2019 Charge for year Al 31 $1 October 2020 6.491 535 7,026 Not Book Valu• Al 315l October 2020 4,286 Al 31 sl October 2019 2,221 4 Stock and Twork In progr08• 2020 2019 Slo¢k$ of proMotnal goods fty $èIe Work in progress.. Schoolhousè Bridge 72 35,812 35,884 23 23 5 D•btors 2020 2019 Tax ReCOverae Gift Aid recoverable A¢¢rued income and prepaymgnls 1,726 8.622 527 1,171 11,869 512 10,875 13,552 2020 2019 6 Crgdltors.. amounts falllng du• within on• year Other credit¢ys Accruals 8.030 3,237 97 12 11,267 109 7 R•striCt funds These represent funds commrtte(I lo restoralin of the Montgomeryshire Canal.
THE MONTGOMERY WATERWAY RESTORATION TRUST BALANCE SHEEf AS AT 31st OCTOBER 2020 2020 2019 Flxed Atssets: Equipment Cost Depreciation Net Book Value Investment Montgomery Canal Reconstruction Ltd 100 £1 Shares Loan 257 -257 257 -257 79.400 79.500 34.400 34,500 Curr•nt AMet8 Debtors Bank balances 8,441 12.178 Current Accounts Deposit Accounts 25,493 324.847 48,551 154.570 3S8.781 21 of,299 Crodltor•'. Amount falling vllhin one yeaT. Montgomery Canal Reconslructk*n Ltd -122 -1.188 -1,310 357,471 .12 N8t Currant Assets 215.287 Total Net Assets £436.971 £249,787 R•prn8•nt•d by: Restricted Funds Unrestricted Funds 436.094 877 £436.971 249,419 £249,787
MONTGOMERY WATERWAY RESTORATION TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st OCTOBER 2020 Unrestricted Rostrlcted Funds Funds 2020 Total 2019 Total Incoming Resourc8S Voiunlary Income Dortalions 178,992 179,074 108,470 12.799 24 227 Grft Aid Charitable Aclhiilies and Fundraising Sales of Merchandise Sundry Income 117 117 117 117 251 Other Income.. Bank Interest 276 276 188.017 191 121,711 187,659 Re•ourc•s Exp•nd Charitsblo Expenditure PublKity A(iverts'51ng Promotional Materials 229 1,176 1,405 28 28 28 28 Support Costs Commission General Expenses Insurance ProfessKJnal fees Resloralion Expenses Subscriptions 348 205 172 172 1.092 16 1,200 146 2,810 756 16 2tio 1,gJS 146 1,956 3,674 854 2.838 5,079 N•t Incomlng Ioutgolngl R•sourc 185.675 185.179 176,632 Total fund¥ bought forward Trnnsfor from Frl•nds of th• Montgom•ry Canal Triathlon Other 249.419 249.787 128,155 1,(M)5 1.005 s,000 Total fund• carriod for*4ard £877 P436.971 £249.787 Note.. The Restricted Funds incixporate the"ReSto The Montgomery Canal" account
FRIENDS OF THE MONTGOMERY CANAL STATEMENT OF FINANCIAL ACTNMES FOR THE YEAR ENDED 31st OCTOBER 2020 Incomlng Ruources Unrnstri¢t•d Restricted Funds Funds 2020 Total 2019 Total Membership Subscriptions Donations GfftAi 1.871 630 512 1.871 630 S12 1,891 126 377 CharitatAe Activth'es and FurKlraising'. Canoe hire Sales ol MercharKlise SuNlry Income 1.022 1,022 1.425 524 88 2.037 127 1.158 127 1,158 4,171 4,171 4.431 RMour¢e• Expond•d Co$1 of generating funds.. Goods lor resale Charitable experKlilure'. Publicity N8w8letter Support Costs General expenses Insurance Subscriptions Deprecialion 1.179 1.179 1,220 1.019 499 25 474 2,017 1.019 256 472 25 378 1,131 2S 474 2,017 3,196 3,196 2,355 N•t Incomlng RMourc•8 Total funds brought forward TrAn8f•rred to Montgomery wat•aY R••toYatlon Tru#t T¢)tal funds carrl¢d fonvard 975 16,055 97S 20,555 2,076 18.479 -1,000 £20,530 £16.030 £4. £20.555
FRIENDS OF THE MONTGOMERY CANAL BALANCE SHEET AS AT 31st OCT08ER 2020 2020 2019 Flxed Assets.. Equlpm•n¢ Cost. Depreciation 8,267 6.651 8,287 6,178 Nel Bk Value 1,616 2,089 Curr•nt A•••ts: Stock Debtors & Prepayments Bank balance Current Accwnl Cash in HaNJ 23 23 210 18,267 39 18.213 31 18.925 18,477 urrent Llabllltl•8: Credllors.. Amount falling due wlhln one year Nèl Current Assets 18.914 18,466 Total N•t AJs•ts £20.530 £20,555 R•pr•Mnt•d by: Restricted FLJnds Unrestricted Fund8 4,500 16.055 £20.555 16,030 £20.530 70
THE MONTGOMERY CANAL TRIATHLON BALANCE SHE AS AT 31st OCTOBER 2020 2020 2019 Flxed ABs•ts'. Equipment Cost Dgpreclatlon N818ook ValLte -75 113 132 Curr•nt A8Sèt8.' Bank Balance Current Account Curr•nt LlabllitiO8'. Creditors.. Amounts falling due wnthin year Nel Current Assets 6.114 3,202 -3,207 2.907 3,116 Total Not A•$ot• £3,020 £3,248 R•pr•8•nt•d by". Restricted Funds unrestri0 Funds 3.020 £3.020 3.248 £3,248 12
THE MONTGOMERY CANAL TRIATHLON STATEMENT OF FINANCIAL ACTNITIES FOR THE YEAR ENDED 31st OCT08ER 2020 202ts 2019 Unresirl¢ted Restricted Funds Funds Total Total Incomlng RoUrceS Donations 1.005 1,005 Charltablo Actlvltles & Fundralslng Triathlon entries Canoe hire 5,700 1,100 6,800 Total Incoming Rfjsouces 1,005 1,005 6,830 R•sourcès Expanded Charltablè •xp•rtdlture Publicity-. Promotional malwials Medallions 281 923 Support costs Gènefal expens8S Hire of equipment C81ering Deprecial*)n 375 1,760 351 19 2,505 3,428 19 19 30 228 228 Not Incomlng RMourc•s 777 777 3,402 Total lund¥ bought fofward Transfer lo Montgomery Waterway Resloralion TnJ5t Total funds carrf•d forward 3.248 -1,005 £3.020 3.248 .1,005 £3,020 4,846 -5,000 £3.248 13
THE MoKfGOMERY WATERWAY RESTORATION TRUST Independent Examiner's Report. s report on the financial statements of The Montgomery Watenvay Restoration Trust for the year ended 31 October 2020. which are sel oul on pages I lo 12, is in respect of an examination Lale out in accordanc¢ with s.43 of the Charities Act 19931'xhe Act"), &s amended by Section 28 of the Clwiiies 2006. Respectlve Responsibilities of the Trustees 2nd ihe Examiner As Trustees you responsible for the preparation of financial statements; you consider that ihe audit requirement of Section 43 (2) of the Act does not apply. li is my responsibility to issue the rert on those financial slalemcnis in accordance with the lernis of the Regulations. and to state whdher particular matters havc come to my attention. Basls of the Report My examination was Carried oul in accordance with Genernl Directions given by the chltY Commission under section 43 (7)b of the A.. Thal examination includes a review of the accounting records kq)t by th¢ Twsle¢s and a comparis(Trn of the accounts with those records. It also includes considering any unusual it¢ms or disclosures in thc financial slalemenls and seeking explanations from you as trustees conceming any such matters. The procedures undertaken do noi provide all the evidence that would be required in an audit. and cOnSentlY I do not expr¢ss 3n audit opinion on Ihc view gjven by the accounts. Independeni Exminer'% Stfement In )nnecTiOn with my examinalion, no matter wrne to my 4tt¢nlion'. Which gives me re&wnable Ca8¢ 10 believe thai in any material respect the requirements to keep accounting records in accordance with section 41 of the Act". io prare financial sthtements which accord with the accounting records and to comply with the requirements of the Act and Regulations have not been met; or lo which, in my opinion. attention should be drawn in order to enable a prow understanding of the fiDancial staternents to be reach]. 2) K. Palm¢r Roland House, Tixall Mews, Tixall, Stafford. ST18 OXT r,b( pl" 2021 14