Charlty reglstratlon numbor 514219 (England and Wales)
Company registration number 01739659
DUDLEY CANAL TRUST (TRIPS) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

DUDLEY CANAL TRUST (TRIPS) LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
CA Bennett
L T Bradshaw
Dr M C Clark
J Deacon
R l Langford
PT Smith
A Truslove
K J Williams
L Head BEM
l G Watson
LJBratt
{Appolnted 10 September 2024)
(Appolnted 18 September 2024)
Charfty numbor
514219
Company number
01739659
Prlnclpal addross
501 Birmiwham New Road
Dudley
West Mldlands
DY14SB
Roglstered offl¢e
501 Birmingham New Road
Dudley
West Midlands
DY14SB
Independent examiner
CK Accounting Servic8$
No 4 Castle Court 2
Castlegate Way
Dudley
West Midlands
DY14RH

DUDLEY CANAL TRUST (TRIPS) LIMITED
CONTENTS
Pago
Trustees, report
Irmjependent examin8rfs r8tK)rt
Statement of financial activitiès
Balance sheet
Notes to the financial statements
6-11

DUDLEY CANAL TRUST (TRIPS) LIMITED
TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present thelr annual report and financial statements for the year ended 31 December 2024.
The financial ststements have been prepared in acc¢)rdance with the accounting policies set out in note 1 to the
financial statements and comply with the charitys goveming document. the Companies Act 2006 and 'Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable to tharities preparing their a¢￿Unts in
accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective
1 January 2019)".
Objectlves and actlvltles
In January 2018 the activities of the charity were transferred to Dudley Canal a￿1 Tunnel Trust and its subsidiary
ompany. The aim vms to merge this charity with Dudley Canal and Tunnel Tnjst: however. the legal complexities
and financial costs have led to a change in direction. This charity now continues as custodian of the Portal Building.
upon which a loan is secured. This enables separation belween Dudley Canal and Tunnel Trust and the building
asset. as good praclice. The Trustees are the same for both this charity and Dudley Canal and Tunnel Trust.
enabling no conflict between the ￿0 charities.
Publlc benefit
The trustees have paid due regard to guidance issued by the Charity Commlsslon in deciding what actlvlties the
harity should undertake.
Flnanclal revl¢w
Total incomlng resources for the year amounted to £104,850 {2023 £36.800}. Total resources expended were
£24,365 (2023 £26,099). Total funds at th8 ènd of thè yèar am¢)unted to £699.373 (2023 £618.888).
Major rfsks
The trustees have assessed the major risks to which the charity is 8xposèd. and are satisfied that systems are in
place to mitigate exposure to the major risks.
Structure, governan¢e and management
The charlty is a company limited by guarantee and hence there is no shar8 capital.
The trustees. who are also the diredors for the purpose of company law. and who served during the year and up to
the date of slgnature of the financial statements were:
C A Bennett
L T Bradshaw
Dr M C Clark
J Deao)n
R l Langford
H O'connor
PT Smith
A Truslove
K J Williams
L Head BEM
l G Watson
LJBratt
(Resigned 1 August 2024)
(Appointed 10 September 2024}
{Appointed 18 September 2024}
Recnirfment and appointment of trustees
New trustees are briefed by the management regardlng the operations and their legal obllgatlons under charlty and
company law. They are also given 2 tunnel tour to obtain a better understanding of the company histcry and
operations. None of the trustees has any benefiGial interest in the company. All of the trustees are m8mb8rs of the
company and guarantee to contribute £1 in the evant of 8 winding up.
Organisational structur8
The board of trustees admlnlster the Charity and meet annually.

DUDLEY CANAL TRUST (TRIPS) LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees, report was approved by the Bo8rd of Trustees.
P T Smith
Truste•
18 August 2025

DUDLEY CANAL TRUST (TRIPS) LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DUDLEY CANAL TRUST (fRIPS) LIMITED
I report to the trustees on my examlnatlon of the flnanclal statements of Dudley Canal TNSI ITrips) Limlt8d (the
charlty) for the year ended 31 December 2024.
Responsibilltl•8 and basls of r•port
As the trustees of the charlty land also Its dlre¢tors for the purposes of company law), you are responsibl8 for th6
preparatlon of the financial statements in accordance wilh the requirements of the Companies Act 2006.
Having satisfied myself that th8 financial statements of the charity are not r8qulred to be audited under Part 16 of
the 2006 Act and are eligible for Independent examlnation. I report in respect of my examination of th8 charitys
financlal statemenls ¢arrled out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my
examination I have followed 811 the applicable Directions given by the Charlty Commission under sedlon 14515)(b)
of the 2011 Act.
Independent examlnerfs Statement
I have completed my 8xamination, l Confirm that no matters have come to my attention in conne¢lion with the
examination giving m8 cause to b81iev8 that In any material respect:
accounting records were not kept in respe¢t of the charity as required by section 386 of the Compani8s Act
20(￿.
the financial statemènts do not accord with those records: or
the financial stal8ments do not comply with the accounting requirements of section 396 of the Companies Act
2006 other than any requirement that the financial statements give a true and fair vi8w, which is n(rt a mattér
consldered as part of an independent examination. or
the financlal statements have not been prepared in accordance ￿th thè methods and prlnciples of the
ststement of Recommend8d Practicè for accounting and reportlng by charitles applicable to charities
pr8paring their financial statements In accordance wlth the Flnancial Reporting Standard applicable in th8 UK
and Republic of Ireland (FRS 102).
I have no ￿n￿rn$ and have come across no other mattèrs in connection with the examlnallon to which attention
should be drawn In this report in order to enable a proper understandlng of the financial stslem8nts to be reached.
Blake Morris (FCA)
CK Accounllng Sorvlce$
No 4 Castle Court 2
Casllegate Way
Dud16y
W8st Mldlands
DY14RH
18August 2025

DUDLEY CANAL TRUST (TRIPS) LIMITED
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestrlcted Restricted
lund$
funds
2024
2024
Total Unrestrlcted Restrlcted
funds
fiinds
2023
2023
T¢)tal
2024
2023
Notes
Income from:
Charitablé activities
19,921
84,929
104.850
8,992
29,808
36.800
Total Income
19.921
84.929
104,850
6.992
29,808
36,800
Expenditure on:
Charitable activities
6,695
17.670
24.365
7.262
18.837
26.099
Total expendlture
6,695
17,670
24.365
7,262
18.837
26.099
Net Income and mov8m•nt In
funds
13,226
67,259
80.485
{270)
10.971
10.701
Reconciliation of funds:
Fund balances at 1 January
2024
147,127
471.761
618,888
147.397
460,790
608.187
Fund balances at 31
December 2024
160.353
539.020
699,373
147,127
471.761
618.888
The statement of financlal activities includes all gains and Fosses recognised in the year. All income and expenditure
derive from ¢onlinuing activities.
The notes on pag8s 6 to 11 fom part of these financial statements.

DUDLEY CANAL TRUST (TRIPS) LIMITED
BALANCE SHEET
AS A T 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
962,895
976.642
Current as$ets
Creditrxs: amounts falling due wlthln
onè yèar
{34,830)
(43.457)
Net curront liabilities
(34,830}
{43,457)
Total assots less current liabilitles
928.065
933.185
Credltors: amounts falllng dua aftèr
more than one yèar
10
(228,692)
(314.297)
Net assets
699,373
618.888
The funds of the charity
Restricted income fvnds
UnreslriGted funds
11
12
539,020
160,353
471.761
147.127
699,373
618,888
Th8 notes on pages 6 to 11 form part of these financial statements.
The company Is entitled to the exemption from thè audrt requirement contsined in section 477 of the Companies Act
2006. for the year end8d 31 Dècember 2024.
The dlre¢tors acknowledge their responsibilrf(ies for complying with the requirements of the Companies Act 2006
with respect to accounting records and th8 preparation of financial statements.
Thè members have not requlred the ¢ompany to obtain an audit of its financial ststements for the year in questlon in
accordance wlth sedion 476.
These financial stat8m8nts have been prepared in ac¢ordance with the provisions applicable to companies subject
to th8 small companies regime.
The financial statements were approved by th8 trust88s on 18 August 2025
P-TS_
PTSmith
Trustee
Company registration numI￿r 01739659 (England and Wales)

DUDLEY CANAL TRUST (TRIPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Ac¢ountlng policios
Charlty informatlon
Dudley Canal Trust (Trips) Limit8d is a prlvate company limited by guarantee incorporaled in England and
Wales. The r6gistered officè is 501 Blrmlngham New Road. Dudley. West Midlands, DY14SB.
1.1 Accounting convention
The flnan¢ial statements have b8en prepared in accordance with the charlty's goveming document. the
Companies Act 2006 and "Accountlng and Reporting by Charities: Statement of Recommended Practlcè
applicable to charities preparing thelr accounts in accordan¢e with the Financial Reporting Stsndard
applicablè in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191" The charity is a Public
Benefit Entlty as defined by FRS 102.
The charity has taken advantage of the provisions in th8 SORP for charities applying FRS 102 Update Bulletin
1 not to prapare a Statement of Cash Flows.
The financial statements are prepared In sterling, which is the functional currency of the charity. Monetsry
amounts in these financial Statements are rounded to the nearest £.
The financlal statements have been pr8pared under the historical CA)St conventlon. The principal acwunting
pollcles adopted are Set out b81ow.
1.2 Going concern
At the time of approving the financial statements, the truste8s have a reasonable expectation that the charlty
has adequate resources to continue in operational existence for the foreseeable future. Thus th8 tr￿lee8
continue lo adopt th8 going conc8m basis of accounting In preparing the financlBI stat8m8nts.
1.3 Charftsble funds
Unrestrlcted funds 8r8 8vailable for use at the discretion of the trustees in furtheranc8 of their charltable
objectives.
Restricted funds are subj8ct to speclfl¢ conditions by donors or grantors as to how they may b8 used. Th8
purposes and usès of the restricted funds are set out in the notes to the financial slat8ments.
1.4 In¢ome
Income is recognlsèd when the charity is legally entrtlèd to it after any performance conditions have be&n met,
the amounts can be measured rellably, and it Is probable that inci)me will be r8cèived.
1.5 Expendituro
Expenditurè is recognlsed once therè is a 18gal or constructlve obligation to transfer economic beneffl to
thlrd party. It Is probable that 8 transfer of economlc benefrts wlll be requir8d in s8ttlemenl, and the amount of
the obllgation can be measured rèliably.
Expenditure is classified by activity. Thè costs of èach actlvfty are made up of tha total of dIr￿t Costs and
shar8d costs, includlng support costs involvèd in undertaking each activity. Dirèct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activty and
support costs which are not attributable to a single a￿1vty ar8 apporboned be￿een those activilies on a basls
consistent wth th8 use of resources. Central staff costs are allocated on the basis of tlme spent, and
depreciation ¢harges are allocated on the portion of the asset's use.
All expenditure is accounted for on an accru818 basis. Expenditure Is recognised wh8r8 there Is a legal or
constructive obligation to make payments to third parties. it Is probable that a settlement wlll be required and
th8 amount of the obligation cgn be measured rellably, Support Costs ar8 those that assist the work of the
charity but do not directly represent charitabl8 a￿[VitieS and include govémanc8 ¢OSts .

DUDLEY CANAL TRUST {TRIPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollclos
(Continued)
1.6 Tangible flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of
depreciation and any impairment losses.
Depreciation is recognised so as to WTite off the ￿st or valuation of assets less their residual values over their
useful lives on the following bases..
Portal
Leasehold improvements
Tunnel improvements
Booking office and shed
straight lin8 over the temi of the lease
straight line over the tem) of the leas8
20% reduryng balance
20% redu¢ing balance
The gain or loss arising on the disposal of an asset is detsrynined as the difference bet¥veen the sal8 proceeds
and the carrying value of the asset. and is recognised in the statement of financial activities.
1.7 Impairn70nt of fixed assets
At each reporting end date. the charity reviews the carying amounts of its tangible assets to determine
whether there is any indl¢ation that those assets have suffared an Impainnent loss. If any such indication
exists. th8 recoverable amount of the asset is estimated in ordar to detern)in& the extent of the impairmènt
loss Irf any).
1.8 Cash and cash equlvalents
Cash and cash equivalents include cash In hand, deposits held at call with banks. oth&r short-tenn liquid
investments with original maturtties of three months or less. and bank overdrafts. Bank overdrafts are shown
thin bom)wings in current Ilabilities.
Baslc flnanclal Ilabllitles
Basic financial liabilities. induding creditors and bank loans are initially recognised at transaction pri￿ unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rale of interest. Financial liabilities classwfied as payable
wiMin one year are not amortised.
Debt instruments are subsequently carried at amortised cost. using the effectrve interest rate method.
Derecognltion of flnanclal lia￿111•eS
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
Can￿lled.
Income trom charltable a¢tivltlos
UnroStrl¢ted Reslrlcted
funds
funds
2024
2024
Total Unrostrletsd Restrfctsd
funds
funds
2023
2023
Total
2024
2023
Rent81 income
19,921
84,929
104.850
6.992
29,808
36.800

DUDLEY CANAL TRUST (TRIPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on charitablo actlvltles
Unre8trlcted R88trlctèd
funds
funds
2024
2024
Total Unrestrlctod Restricted
funds
funds
2023
2023
Totsl
2024
2023
Direct costs
Depreclation and
impairment
Release of capltal grant
Loan interest
5,347
{827)
2,175
8.400
13.747
(827)
11.445
5,841
1827)
2,448
8,400
14.041
(827)
12,885
9.270
10,437
6,695
17,670
24,365
7.262
18.837
26.099
Net movomont In funds
2024
2023
The nèt movement in funds is ststed after chargingl(creditlng}:
Fees payable ft)r the independent examination of th8 charitys financial
statements
Depreciation of owned tangible fixed assets
900
13,747
900
14.041
Trustees
None of th8 Irustees (or any persons connected with th8m} re¢elved any remuneration or benefits from the
charity during th8 year.
Taxotion
The charity is exempt from taxation on its actNiti8s b8cause all its income is applred for charitable purposes.
Tangible r￿ed a990ts
Portal
L•as•hold
Tunnel Booklng ¢)ffl
improv•m•nts Srnprov•m•nts
and shed
Total
Cost
At 1 January 2024
3.599,859
97,226
42,754
50,268
3,790,105
At 31 De￿rnber 2024
3.599,859
97,226
42,754
50,266
3.790.105
Depreciation and impairnient
At 1 January 2024
Depreciation charged in the year
2.666.338
10,370
59,986
2,200
41,231
305
45.908
872
2,813.463
13,747
At 31 Decern￿r 2024
2.676.708
62,186
41.536
46,780
2.827.210
Carrying amount
At 31 December 2024
923.151
35,040
1,218
3,486
962.895
At 31 December 2023
933.521
37.240
1,523
4,358
976,642

DUDLEY CANAL TRUST (TRIPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Loans and ovordrafts
2024
2023
Other loans
257,692
351.097
Payable within one year
Payable after one year
29,000
228.692
36.800
314.297
The long-tem loan is from the Local Enterprise Partnership and is secured against the Portal bullding.
Credltors: amounts falllng due wlthin One year
2024
2023
Borrowings
Other creditors
29,000
5,830
36,800
6,657
34,830
43,457
Other creditors are the deferr8d r8leas8 of a capitsl 9rant from Advantage West Midlands in 2001, èxpiring in
2031.
10 Creditors: amounts falllng due after more than one year
2024
2023
Borrowlros
228,692
314,297
A fixed charge dated 13 February 2014 was Created between Dudley Canal Trust (Trips) Limited and The
Metropolitan Borough Council of Dudley. The charge is over the leasehold land registered at H M Land
Registy under title MM20235 being Todds End Field. Birmingham New Road, Dudley together will all the
buildings and fixtures from time to time and the benefft of all rights. easements and privileges apwrtenant to
or benefiting from the same. The creation of the charge related to the European Regional Developmeni grant.
A further three ¢harge$ dated 19 February 2015 were created between the charity and the National Heritage
Memorial Fund, Th8 Metropolitan Borough Council of Dudley and thè Metropolitan Borough Council of
Sandwell. The charges are over the bulldlngs and fixtures.

DUDLEY CANAL TRUST (TRIPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Restrlcted funds
The restricted fijnds of the charity comprise the unexperKled balances of donatrons and grants hekl on trust
subject to specific conditions by donors as to how they may bè us8d.
Movement In funds
In¢oming
Resource8
Balance at
r•sourc•s
•xp•nd•d1 January 2024
m0￿Ment in funds
Incorning R￿¢)UrCeS
Balan￿ 4¢
expend•d 31 Doumbor
2024
Balan¢0 at
1 January 2023
The Portal
Fund
460.790
29,808
(18,837)
471,761
84.929
(17.670)
539.020
12 Unrostrlcted fund8
The unrestrided funds of the charity comprise the unexpended balances of donations and grants which ar8
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 January
2024
Incomlng
rosourcos
Resources
expended
At31
Decembor
2024
General funds
147,127
19.921
(6,695)
160,353
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
At31
December
2023
General funds
147.397
6,992
{7,262)
147,127
13 Analysis of net assets betwèen funds
Unrestrlctéd
funds
2024
Restrfcted
funds
2024
Total
2024
At 31 De¢ember 2024:
Tangible assets
Current assetsl(liabiliti8s>
Long tem) liabililies
215,144
(5.526)
(49,265)
747,751
(29.304)
(179,427)
962.895
{34,830)
{228.692}
160,353
539,020
699,373
10-

DUDLEY CANAL TRUST (TRIPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Analysis of net assets between funds
(Continued)
Unrestrictod
funds
2023
R•$trfctod
funds
2023
Total
2023
At 31 Dècèmber 2023:
Tangibl8 assets
Current assetsl(liabilities)
Long temi liabilit18S
220,491
(13,649}
<59,715)
756.151
(29,808)
(254.582)
976,642
{43.457)
(314.297)
147,127
471,761
818.888
14 Operating lease commftments
Le$so0
A lease Is in Pl￿ relating to land at Todd's end. The rental payments are mad8 by Dudley Canal and Tunnel
Trust. At the reporting end date the charity had outstanding commriments for future minimum lease payments
under non-cancellable operating leases. which fall due as follows:
2024
2023
withln one year
Belween two and five years
In over five years
2.600
10,400
214.067
2.600
10,400
216.667
227,067
229,667
11