THE MONTGOMERY WATERWAY RESTORATION TRUST COMPANY NUMBER 1508017 REGISTERED CHARITY NUMBER 510448 STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 3]" OCTOBER 2025
THE MONTGOMERY WATERWAY RESTOII4TION TRUST INDEX TO THE ACCOUNTS Company Infornjation Trust Committee Report ConsolidateAI Balance Shect Consolidataj Statemeni of Financial ACti]tieS Notcs to the Accounts Monigomery Wat¢rway Restoratson Trust: Balance Sheet Siaiement of Financial Activities LIan1Ynech Canal Wharf: Statement of Financial Artivilies 10 Fnends of the Montgomery Canal: Balance Shect Statement of Financial Activities 12 The Montgomery Triathlon: Ststement of Financial Activities 13 Independent Examiner's Report 14
THE MONTGOMERY WATERWAY RESTORATION TRUST COMPANY INFORMA TION TRUSTEES ChrnIan Michael.LJmbTey MBE Secrdary Robert.Dewey Nicbolas.Bostock DL. FCA Other Truste¢s Chnstopher Bushnell Phillipa Bursey (apwinted 25110125) Siephen Clews (appointed 25110125) Grah8m Deakin (app)inted 25110125) Ambcreene Hitchcox (aPwInt 25110125) Chnstine Palin Bnan Williams {appOind 25110125. di 27111125) REGISTERF.D OFFICE 26 Bentley Dni'e Oswestry Shropshire SYI I ITQ BAYKERS HSBC plc Th¢ Cross 05W¢Stry Shropshire SYII 2SR IIIDEPENDENT EXAMINER Colleen Hmmond ACA CEH Consultancy & Accounrancy Ltd 41 Weeping Cros5 Stafford STI 7 ODG
THE MONTGOMERY WA TERWAY RESTORA T10, TRUST TRUST COMMITTEE REPORT 311I OCTOBER 2025 The Trust Committee present their rqKJrt and financial statements for the year endal 31° October 2025. Princi al Actii'i 'ICharilable Ob'ective8 The principal ath'vity ot the Company in the year was promoting the restoration to good and naNigable order and conditio)n of the Montgomery arn) of the Shropshire Union Canal numing from W¢15h Franknon in the county of Shropshire to Newtown in the counry of Powys and any bran¢h¢s th¢r¢of, for the use and benefit of the public. Volunteers led by the Shropslll'rc Union Canal Society are continuing to restore the reMnIng 2 mile dr! section in Shropshire lo connecl with the canal in water on the Welsh border at Llanymynech. Our appeal towards the first phase from the new Schoolhouse Bridge to the next winding hole at Waen Wen is now closed, having raised £250.0(M). and a new appeal is bang plann¢d to fund the building of a new accommodation bridge. to be known as Jubilee Bridge. at Crickh¢ath wh¢n the d¢sign Is finalised. In addiiion. a mosi generous legacy ot £240,000 w&s received during the year. Fmm LIannYDcCh to Maerdy Bridge in Powys restoration continues. funded by the Government Levelling Up Fund. with dran8, a second new nature reserve and the reinstatement of twD dropped bridges expta in 20?6. Meanwhilc, the Trusl coniinues lo organise a programme of community ev¢nts and activities. A notable eveni is the annual Triathlon along the la1, which is organi5ed by the Friends of the Montgomery Canal, the membership section of the Tnlst. Llanymynech Canal Wharf, another section of the Trust. has a visitor centre and operates a passenger boat. Gwrge William Buck. equipped with facilities for the disabled. Regular boat trips operate during the sumrner months on a short scth'on there which will expand &8 restoration progresses. The Trust owns a 550m section of the canal at Dolfor near Newtown. This is dry at presenl. with a derelict lock and bothy. Powys County Council have recently und¢rtak¢n heritage Tepait5 to the bridge over the tail of the lo¢K $¢d as a public f(x)tpath. In deciding what activittes to undertake. Ihe tnleeS have paid due regard to the Charity CotnmisJiun yidani¢ vn publi¥ b¢n¢fit. Re$erv¢8 Poli Th¢ res¢$ in unrestrided funds will be maintained to cover a minimum of two y¢ars activity. This designation is in addition to such reserve& includin8 those m restrict funds. as the TnLSte¢s consider neSsry to meet forthcoming obligattons and ommitments.
uardiD Policies nd Procedures The various policies and slat¢menis that apply to membership and volunteering with Ihe Trusi are in place and are reviewed annually. These enwmpas5 health & safety. equal opportunities. equality and dtversity. the envirotllnent, education & trainin& and young persons & vuln¢rable adult protcction. Directors The Directors of the Company are defintsl as the Trustees (see company infonnation). Nonc of the Trustees have any benefici interest in the Company. Smydll Com an Exem tion This rewrt is prepar in accordance with the special provisions relating to small companies within Part 15 of the wmpanies Act 2(M)6. The Truste consider thai an audit is not required for this year under Section 43 (2) of the Charities Act 1993. but thai an independeni examination is needed. Approved by the Board of Trustees and Si1 on their behalf: Michael Limbrey M S Limbrey Chdirnian 1stApril 2026
THE MONTGOMERY WATERWAY RESTORATION TRUST CONSOLIDATED BALANCE SHEET AS AT 31¥t OCTOBER 2025 2025 2024 Flxod A85ets LarKI and B¢Jildiro5 Tangl8 Fix1 Assets 142 21.269 107 22,126 Current As¥•ts: Debt5 and Prep8ymeDts Balances al Bank Cash in haTh 23.487 464,221 69.039 194.753 487.744 Current LbIl'e9'. Credrtus. Amc4Jnts falling due vthhin one year 263,861 -56,719 Net Current Assets 487,524 207,142 Cr&#ltorn. Amounts fdling due after one -168,295 -272.325 Total N•1 ILlablliti•s) A•8•ts £340.640 -£42,950 Repr•A•nt•d by: Restricted Funds Unwirthj Funds 295.417 45.223 £340.640 -112.309 69,359 -£42 950 Sthtome Acco In prepanng trse Finanual statements.. Fly the year ending 31110125 th8 company was en1¢d lo eXp1 under sectM)n 477 of Ihe Companio$ Act 2006 rdating to ¥m811 GDmpgnr4a No memb5 have required Ihe LMpanY lo obtain an audit of its acnts for the year in question in acaydanco with lon 476 of Companies hLt 2006. The dir$ aCkTr>edge their ffjsponsibilrtw ftx c(Knplyiro wilh wuiremeN¥ of the Aci wth resp8Ct lo a¢(nn9 rgc(xds and f(Y the Yeparat of accounts. The Finaal Statèments approv&J by the Board of Trustees on 1 st April 2026. Michael Limbrey N Bostock M.S. Limbrey N.S.G.Boslttk Chairman Treasur The Thxes , on pages 6 10 7 fcffii wt of these finawal statemènts
THE MONTGOMERY WATERWAY RESTORATION TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENOED 31st OCTO8ER 2025 Unre8trFctod Rogtrlct•d 2025 Fundj Funds 2024 Totsl Incomlng Ro¥ource• Volunlary Incom• Memt)wship subs(xiplJons Dona1K5 Grft - Inland Revenue 2,655 10,442 2,508 363.958 374.4LK) 19.945 22,453 125,098 12,108 Incoming Resources from CharrtatrAe Acts"vth"8s and Fundraising 6.474 2.816 11,388 Othor In¢om• Bank Interesi Sundry Incorno 4.786 5.277 330 4.039 Toial Incomlng R•Aourc 26,865 387 540 414.405 155,196 Resourc•8 Exp•nd•d Costs of genBraling funds GcL*s for sale Charrtae expenditure Grants pUblrtY Supp(Yt eo•ts 578 578 1.663 8,517 2.894 28,240 1,137,152 19.723 Total R••ourc•s Expend•d 10,180 20.635 ,815 1,140,723 Not Incomlnq R•sour¢ 16685 366.15 383. -985.527 Tolal Fund• bought lornard 89.369 -112.309 42,950 918.876 Funds Introduc&l Transfef Totsi Funds ¢arrl•d forward 23.701 40.821 £45,223 40,821 £295.417 £340.640 -£42,950
THE MONTGOMERY WATERWAY RESTORATION TRUST Notes forniing Part of the Consolidated Finaneill Statements for the year ended 31Jl October 2025 l. Accounting Policies In preparing these financial statements.. For the year ended 31 October 2025 the company w&8 entitled io exemption from audit under section 477 Companies Ath 2(X)6. No member of the company has desited a notice. pursuant 10 section 476, requiring audil of these financial statements under the rcqwrements of the Companie5 Act 2IX)6. The trusiees acknowledge their SponSibl11t1eS for ensuring that ihc company keq)s accountsng r¢cords which comply with section 386 of the Act and for preparing financial staiements whith ve a true and fair view of the 5thte of atYair5 of th¢ company as at the end of the financial year and of its profil or loss for the financial year in accordance with the requirements of stttions 394 and 395 and which otherwise comply with the requirements of the Compameg A 2(Kh relating to ac¢ounls. so far as applicable lo Ihe company. These financial slaiement5 have been prepar&1 in accordan with provisions applicable to companies subject to the small ¢ompani¢s rc8ime within Part 15 ut the Companies Act 2006. with the Financial Rewrting Standard for Smaller Enterprises (effective April 2(X)8), and with The Accounting and Rep)rtin8 by Charities - Statement of Recommended Practice (SORP 2005). b} The accounts incorporate the results of Montgomery Canal Reconstruction Ltd, a wholly owned subsidiary wmpany fomled on 30 May 2018. th¢ Friends of the Montgomery Canal, a branch of Ihc rnpanY Set up in December 2(K) l ag a membership section. and Llanymynech Canal Wharf. a volunteer wup operating a Visiior Centre and passenger naTrow boat, which joined th¢ Trust on I si August 2024. 2. Sh4re Capital The company is incorporated a company limited by guarantee and does not have a wholly owned Share Capital. The liability of each member is fixd at an amount nol to exceed £1. 3. Land and Buildings Montgomery Canal Reconstruction Ltd purchased 550m of the Mont8omeryshi Canal, inclLkain8 Dolfor Ik and bothie, in August 2022 at a cost of £141. 4. Tangible Fixed Assets Tangible fixed assets costing more than £500 were capitalised as at I" November 2(X)9 and included at cost less dq)r¢cialion at l OQ/ts w annum on Lost. Additions since are treated on the same b&sts. with th¢ exception of the narrowbo&i. which was capitaliscd ai £20,000 on I" August 2024 and depreciated at 40/0 per annum on cost.
THE MONTGOMERY WATERWAY RESTORATION TRiIST Note• forniing part of th• Con8olldal•d Flnanclal Stat•m•nts for th• y•ar to 31•t Othr 2025. 4 Icont) C06t Al 1 sl November 2024 Additn$ Al 31 st Ottober 2025 31,794 485 32.279 D•pr•ciatlon Al 181 November 2024 Charge for tts year At 31st October 2025 1,342 11,010 N•t Book Valu• At 31st October 2025 21,269 At 318t Octobtr 2024 22,12fj 2025 2024 5 Delknrs 202S 2024 Shrohlre CoJncil Pwfcffjiar Deposrt Tax Rerable Grft A recoverable Accrued wKome and wepayThents 56,146 37 21,061 2.389 23,487 11,156 1,642 69,039 6 Cr•dltor•: •nount8 falllng du• Twlthln on• year 2025 2024 Othw cr&lrtors and a¢¢ru8d charges 220 56.719 2025 2024 7 Cr•dito¥•: amounts lalllng du• aft•r on• y•pr. Loan Inter881 free and lth no repaent datè 768.295 272.325 8 Rootr1¢tl fundB These repr08ent funds comrnitle(J to Tost8.0n crf tr MonlgwJnhIre Canal.
THE MONTGOMERY WATERWAY RESTORATION TRUST BALANCE SHEET AS AT 31st OCTOBER 2024 2025 2024 Flxod AS. Equipment Cosi DeprlaOn Net Book Value Investment Montgomwy Canal ReC4$truCt Ltd 100 £1 Shares Loan 20,257 -1,257 19.C(() 20257 457 1,259.41)0 1.279,3(XJ 19.100 CuTh•nt As••ts 22.794 414.457 8ank balane 12,126 155,978 437.251 168,104 Credltors.. Amount falling vthhin yew. N•t Curront Assets Cre¢Jrtors ." Amojnt f*lino due aftw one fftr -146 437.105 -722 167.382 -168.295 -272.325 Total N•t A¥••ts £287,910 £1,174.357 Restrt Funds -r Monigomery Water¥vay RestOralK Trust anwMYn Canal Whart 235,267 2S,325 1.098,655 23.419 unrtrlj Fund8 -T Montgomèry Waterway Restorat1 Trvst 27,318 52.283 £287,910 £1.174,357
1410NTGOMERY WATERWAY RESTORATION TRUST STATEMENT OF FIP4ANCIAL ACTMTIES FOR THE YEAR ENDED 31•t OCTO8eR 2025 Unr••trlcl•d Rqstrlct Fund• Funds 2025 Total 2024 Incomlng Re80urc•J Vcduntary Income Donati¢Y 8,942 358.719 19.812 367,661 21,9)8 124,343 11,853 Grft AKI Ch¥rrt8ble Acti1 and Fundraising Raffle Sun¢Jry Irthme 2.821 Othor In¢4xne. Bank Intwest 4.581 15.819 4,581 394,010 3.8Ql 142,618 378.191 Reure Exp•nd•d charrt8te Expendtiure PUbllty Promth)nal Malert81$ 741 SUpPt Costs 8ank Charges Commission Genwal ExFthses Insurance Resloralion Exws Sutsscriptsons 143 616 765 1,259 143 816 828 1,259 41.267 180 44,293 166 1.453 1.628 14.400 81 18,024 41.287 41.3x1 41,330 44.293 18.765 N•t Incomlng R•90urc 12,856 336.861 349.717 123.853 Totsl fund• bougm forward TrS1•r fvom Frl•nd• of th• Monl9om•ry Canal Tnaihl FrS Transfer of Raffle lo Restrictfyj Funds Further tran81er to Restnctéd Fund¥ Loan to Montgomory Canal RoconstnJclh)n Ltd wrrtten off Total fund¥ Cld forward 52.283 1.098.655 1.150.938 1.022.085 .2,821 2,821 -1.241,070 E235,267 -1,241,070 £262.585 £27 318 £1,150.938 Note.. The Restrthd Funds incorpNate tIN9 The Montgom&y Canal. aCcnI
MONTGOMERY WATERWAY RESTORATION TRUST LLANYMYNECH CAMAL WHARF STATEMENT OT FINANCIAL ACTNMES FOR THE YEAR ENDED DECEMBER 2025 2025 2024 R¢tOd Funds R••lrlct•d Funds INCOMING RESOURCES OonaiK¥ 5.239 496 82 Charitae Ac"tieS and Fundraisi eoal takirvJs & saI8s of 9xKI$ 3.156 1.313 8,528 1,891 RESOURCES EXPENDEO Cost of Generabng Funds., (knds for resale Chaniable Expenditure.. Publty., Promots'onal maten'als Suppcrft Costs 8oal repairs Boat Iwise General expens88 Insurance Professn fees Subscriptio 576 402 3.093 431 77 7ry) 395 10 5.710 1,694 6.622 2,173 Nei InmIr0 Ioutgoirol R8sixJrces Fund3 Intr(#uceO To1 tynds bought fcthard Tot funds rAr ftyward 1.kYJ6 23.701 23.419 £25,325 10
FRIENDS OF THE MONTGOMERY CANAL BALANCE SHEET AS AT 31•t OCTOBER 2025 2025 Flx•d A680ts: Equlpm•nt CosL' Dekyeuation 8.455 -7.756 -7,927 N818oc& Vaue 1,013 Curr•nt A8#•ts: Debtor5 & Prepayrnents Bank balances Cash In HarKi 404 16.491 373 16,0 Curr•nt Llablllti••: Credilcffs.. Amount falling due wrthin OM aT 16,931 16,472 -95 N81 Current Assets 16,892 16.377 Total N•t A880ts £17,905 £17.076 Unr081Acl&J FuTrJs'.- Friends TriatNon 16.578 13.950 1.327 3,126 £17,905 £17,076
FRIENDS OF THE MONTGOMERY CANAL STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31st OCTOBER 2025 Incomlng Rosourc Unr••tri¢t•d RMtrfct•d Fund8 Funds 2025 Totsl 2024 Total Membership Subscripkns Oonab'ons 2,655 2.655 2,563 259 373 372 372 clble Actm"1 and Fundrai8ing.' Canoe hire Sales of Merchandise 570 88 1,218 570 912 95 1.807 Othw Income Bank Interest 1,218 205 205 4,450 4,450 5,CKJ2 Charrtabte expeThJilure'. Grants LIanyThyh Canal Wharf pu1C Nmletter 1,173 1.173 1.171 SuppcKt Costs 8ank Ch&rge3 Commission Genèral expen$os Subscnp1nS Depreciation 52 32 403 10 152 52 32 403 10 152 28 376 152 1.822 1,822 2,418 Nat Incoming R•8our Total funds lyought forw•rd Transfer to Montgom•ry Wat•aY Ro8tOfatknn Tru Total funds Carr1 forward 2.628 13.950 2,628 13.950 14.386 .3,fy)0 £16.578 £13.950 £16,578 12
FRIENDS OF THE MONTGOMERY CANAL THE MONTGOMERY CANAL TRIATHLON STATEMENT OF FINANCIAL ACTIVITies FOR THE YEAR ENDED 31•t OCTOBER 2025 2025 2024 Unr8stricl8d Fund• Incomlng Rosour¢•• Donab'ons GfftA 1.500 40 chart14b thlil•s & Fundr•l8lng Triathlon entr 5,056 5.056 5,447 Totsl Incoming Resouees 6,596 6,596 5,447 R•8ources Expand•d Charltabl• •XWidir• Publicily Medallions Supwl costs CornmissK General expen8e8 Hire of equipm1 Catering 243 2.576 62 19 4,383 4,383 19 4.905 5.395 19 4,905 5,39S 3,578 N•t Incomlhg R•ourc 1.201 1.201 Total funds bought forward Transfer 10 Montgomery Waterway Restoration Trust T¢)tal fund8 carrlod forward 3,126 3,126 3,257 -2,000 £3,126 £1,327 £1.327 13
THE MONTGOMERY CANAL RESTORATION TRUST nd¢pendent Examiner's Report. Report to the trusiees ot. The Montgomy Waterway Restoration Trust (Ch8n"ty No. 51 U448) on th¢ accounts for the ycar end¢d 31" Octob¢r 2025. which are set Oui on page5 1 to 13, iog¢ther with the accounts of its subsidiary Montgomery Canal Reconstruction Ltd. which are set out on pages I to 7. I re)rt to the trustees on my examinaiion of the a¢¢ounts of the aEK)ve charity (Yhe Trust") foi the year ended 31" Othober 2025. Responsibilities and basis of reporL As the charity trustees of the Trust. you are reswnsible for the preparatton of the accounts in accordance with the requirements of the Clwities Aci 2011 (" the Act"). I rewrt in respeci of my examinalion of the Tnst's accounts carried oul under section 145 of the 2011 ACL and in Carn out my exammation I hav¢ followed the applicable rethons Ven by the Chanty Commission under section 14515Kb) of th¢ Act.. Independent examiner's slatemenL I have Lmpleted my examinalion. I confirni that no material matters have come to my aitention in connection with th¢ examination which gives me cause to believe that in any material rcspeci.. aL'Lounlin8 r¢(x)rds werc not kept in accordance with section 130 of the Aci or the accounts do not accnrd with ihe accounting records I have no concerns and have come across no other matter5 in conoe¢tion with the ¢xamination to which attention should be dr8wn in order to enable a proper underslanding of the accounts to be reachoa. L kl, Colleen Hammond ACA CEH Consultancy & A¢countan¢y Ltd 41 Weeping Cross Stafford ST17 ODG 2026 14