THE SALTISFORD CANAL TRUST LIMITED
(ALSO KNOWN AS THE SALTISFORD CANAL CENTRE>
(A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st OCTOBER 2024
Company No: 01772423 (England and Wales)
Charity No: 514613

THE SALTISFORD CANAL TRUST LIMITED
Page 2
CONTENTS
Page
Legal and Administrative Information
Report of the Directors
Independent Examiner's Report
Statement of the Financial Activities - 2024
Comparative Statement of the Financial Activities - 2023
Balance Sheet
10
Notes forming part of the Financial Statements

THE SALTISFORD CANAL TRUST LIMITED
Page 3
LEGAL AND ADMINISTRATIVE DETAILS
Charlty registration number
514613
Company registration number
01772423 (England and Wales)
Trustees and Directors
J Cammaerts (Chairman from 2nd July 2024)
S Brittain (Vice Chairman from 2nd July 2024)
V Harris
J Lodge
P H Carter
C Wightman (Appointed 13th August 2024)
C King (Appointed 13th August 2024)
th
E Welstead (Appointed 25 September 2024)
M F Dutton (Resigned 21 ¥1 June 2024)
D Clarke (Resigned 23r4 June 2024)
B l Baker (Resigned 14" July 2024)
Company Secretsry and
Admlnlstrator
J M Priest
Prlnclpal and Reglstered Offlce
Budbrooke Road
Warwick
CV34 5RJ
Independent Examlner
Mark Harwood FCA BFP FMAAT
Michael Harwood & Co
Chartered Accountants
Greville House
10 Jury Street
Warwick
Warwickshire
Bankers
Lloyds Bank plc.
12 Swan Street
Warwick
Warwickshire
CV34 4BJ

THE SALTISFORD CANAL TRUST LIMITED
Page 4
DIRECTOR'S REPORT FOR THE YEAR ENDED 31ST OCTOBER 2024
The Trustees present their report and the financial statements of the charity for the year ended
31st October 2024. The trustees have adopted the provisions of the Statement of
Recommended Practice (SORP) "Accounting and Reporting by Charities. (FRS 102) in
preparing the annual report and financial statements of the charity.
Structure, governance and management
The charity has an executive committee of 8 Trustees who meet about every 618 weeks
throughout the year and are responsible for the strategic direction and policy of the charity.
The Trustees have delegated day to day responsibility for administration of the charity with the
Company Secretary.
The Saltisford Canal Trust Limited is a charitable company limited by guarantee and without
share capital. The governing documents are the Memorandum and Articles of Association,
The company was incorporated on 23rd November 1983.
The Directors, who are also the Trustees of the charitable company, who served in the
reporting period are listed on page 3. Appointment of Trustees is governed by the Articles of
Association of the charitable company. The Board of Trustees is authorised to appoint new
Trustees to fill vacancies arising through resignation or death of an existing Director. Only
members of the charitable company are eligible for appointment as Director. The induction of a
new Trustee involves being made aware of a Trustee's responsibilities, the governing
document, the administrative procedures, the history and philosophical approach of the
charity.
Objective and activities
The object of the Trust is the promotion of the use by the public of the Saltisford Canal arm of
the Grand Union Canal at Warwick. This includes the provision of facilities for recreation or
other leisure time occupation at or near to the Saltisford canal by promoting the restoration
and improvement of the Saltisford canal and its use by all appropriate forms of waterborne
traffic through the provision of moorings and, to safeguard and improve the navigation and
canal heritage for all visitors by providing facilities for boaters and visitors of the waterside
gardens.
To advance education of adults and children about the heritage and environment of canals
through the provision of a range of media and resources.
Financial review
The results of the Trust for the year ended 31st October 2024 are set out on page 8 of the
attached financial statements. There was a deficit of income over expenditure in the year of
£1,728 (2023.. £16,085 surplus).
We have continued to maintain financial stability. At 31st October 2024 the Trust held
unrestricted general reserves of £100,618 (2023: £94,200) and designated reserves of
£34,257 (2023. £42,343).
The Trust aims to hold at least £45,000 in general reserves to cover the operating costs
should any catastrophic events cause the Trust to have reduced income for a period of time.

THE SALTISFORD CANAL TRUST LIMITED
Page 5
DIRECTOR'S REPORT FOR THE YEAR ENDED 31ST OCTOBER 2024
Achlevements and performance
This year has been quite extraordinary for the Trust in many ways. Three new Trustees joined
the Board and have brought with them additional skills which have been much welcomed by
the existing Trustees. Maria Freeman and Simon Brittain continued to work extremely well as
co-site managers,
We have benefitted hugely from volunteer hours, both from our moorers, and our corporate
supporters who have put in hours of work on the site. The Trust's finances have been very
carefully managed by Jacky Priest who does a sterling job (pun intended) controlling both
income and expenditure.
The Trust has received excellent feedback from new and existing customers regarding the
management of the site as a whole.
Reserves Pollcy
It is the policy of the charitable company to maintain unrestricted funds at a level which equate
to approximately 9 months unrestricted expenditure. This provides sufficient funds to cover
management and administration and support costs. Unrestricted funds are maintained at least
at this level throughout the year.
Rlsk Revlew
The Directors actively review the major risk which the Charity faces on a regular basis and
believe that maintaining reserves at current levels, combined with an annual review of the
controls over key financial systems, will provide sufficient resources in the event of adverse
conditions. The Directors have also examined other operational and business risks faced by
the Charity and confirm that they have established systems to mitigate the significant risks.
Publlc beneflt
The Trustees have applied the guidance from the Charities Commission relating to the public
benefit. Public benefit is inherent in the objectives of the Trust.
Future Plans
The trustees will continue to develop the site to provide facilities to educate adults and children
about the heritage and development of canals.

THE SALTISFORD CANAL TRUST LIMITED
Page 6
DIRECTOR'S REPORT FOR THE YEAR ENDED 31ST OCTOBER 2024
Director's responsibilities
Company Law requires the Directors to prepare financial statements for each financial period
that gives a true and fair view of the state of affairs of the charitable company and the surplus
or deficit for that period. In preparing these statements, the Directors are required to:
Select suitable accounting policies and then apply them consistently.,
Observe the methods and principles in the Charities SORP 2019 (FRS 102).,
Make judgements and estimates that are reasonable and prudent;
State whether applicable Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements.,
Prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the company will continue in operation.
The Directors are responsible for maintaining proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and enable
them to ensure that the financial statements comply with the Companies Act 2006. They are
also responsible for safeguarding the assets of the company and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
The report of the directors has been prepared having taken advantage of the small companies,
exemption in the Companies Act 2006.
Approval
This report was approved by the Trustees on
.and signed on their behalf.
ae
Director

THE SALTISFORD CANAL TRUST LIMITED
Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I report to the charity trustees on my examination of the accounts of the company for the year
ended 31 St October 2024, which are set out on pages 8 to 17.
Responsibilitles and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law)
you are responsible for the preparation of the accounts in accordance with the requirements of
the Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the company are not required to be audited under
Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my
examination of your company's accounts as carried out under section 145 of the Charities Act
2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by
the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examlner's statement
I have completed my examination. I confirm that no material matters have come to my
attention in connection with the examination which gives me cause to believe that in, any
material respect..
accounting records were not kept in respect of the company as required by section 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 accounts give a 'true and fair view, which
is not 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
applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102).
I have no concerns and have come across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Mark Harwood FCA BFP FMAAT
Michael Harwood & Co
Chartered Accountants
Greville House
10 Jury Street
Warwick
CV34 4EW
Date:
Ir

THE SALTISFORD CANAL TRUST LIMITED
Page 8
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2024
(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
Unrestricted Designated
Funds
Funds
Total
2024
Total
2023
Income from:
Donations and subscriptions
2,682
2,682
13,483
Charitable activities:
Moorings
Pumpout
Shop sales
Shed rental
Car parking
Waste contribution
Sale of engines
91,205
3,363
29,138
91,205
3,363
29,138
82,557
3,854
29,704
200
556
450
2,409
955
450
955
450
Other trading activlties:
Shop sales
Room hire
2,353
14,117
2,353
14,117
1,254
22,866
Investment income
422
422
244
Total income
£144,685
£144,685
£157,577
Expenditure on:
Charitable Activities
Other Costs
(124,174)
(19,124)
(3,115)
{127,289) (137,253)
(19,124)
(4,239)
Total expendlture
£ (143,298) £ (3,115) £ (146,413) £ (141,492)
Net {expendlture) I Income
1,387
{3,115)
(1,728>
16,085
Transfers between funds
Net movement in funds
1,387
(3,115)
(1,728)
16,085
Total funds brought forward
15
£94,200
£42,343
£136,543
120,458
Total funds carried forward
15
£95,587
£39,228
£134,815
£136,543
All income and expenditure derive from continulng activities.
The notes on pages 11 to 17 form part of these financial statements
Company registration number.. 01772423 (England and Wales)

THE SALTISFORD CANAL TRUST LIMITED
Page 9
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2023
(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
Unrestricted Designated
Funds
Funds
Total
2023
Total
2022
Income from:
Donations and subscriptions
13,483
13,483
1,966
Charitable actlvities:
Moorings
Saltie rent and takings
Pumpout
Shop sales
Shed rental
Car parking
Waste contribution
Sale of engines
82,557
82,557
71,686
7,053
2,580
25,498
200
1,062
3,854
29,704
200
556
450
2,409
3,854
29,704
200
556
450
2,409
Other tradlng activitles:
Shop sales
Room hire
1,254
22,866
1,254
22,866
891
18,118
Investment income
244
244
Total Income
£157,577
£157,577
£129,063
Expenditure on:
Charitable Activities
Other Costs
(134,138)
(4,239)
(3,115)
(137,253) (136,278)
(4,239)
(2,510)
Total expendlture
£ (138,377) £ (3,115) £ (141,492) £ (138,788)
Net (expenditure) l income
19,200
{3,115)
16,086
{9,725)
Transfers between funds
Net movement in funds
19,200
(3,115)
16,085
(9,725)
Total funds brought forward
15
75,000
45,458
120,458
130,183
Total funds carried forward 15
£94, 200
£42,343
£136,543
£120,458
All income and expenditure derive from continuing activities.
The notes on pages 11 to 17 form part of these financial statements
Company registration number.. 01772423 (England and Wales)

THE SALTISFORD CANAL TRUST LIMITED
Page 10
BALANCE SHEET AS AT 31ST OCTOBER 2024
Note
2024
2023
Fixed Assets
Tangible assets
76,561
82,751
Current Assets
Stock
Debtors
Cash at bank and in hand
3,687
1,139
73,740
3,104
3,268
62,889
78,566
69,261
Creditors
Amounts falling due within one year
10 (20,312)
(15,469)
Net current assets
58,254
53,792
Total Assets Less Current Llabllltles
£134,815
136,543
Net Assets
£134,815
£136,543
Charity funds
Unrestricted - General fund
Designated fund
15
15
£100,618
£34,257
94,200
42,343
Totsl Charity funds
15116
£134,875
£136,543
For the year ending 31st October 2024 the company was entitled to exemption from audit
under section 477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities.,
The members have not required the company to obtain an audit of its accounts for the
period in question in accordance with section 476 of the Companies Act 2006,.
The directors acknowledge their responsibilities for complying with the requirements
of the Companies Act 2006 with respect to accounting records and the preparation of
accounts.
The financial statements have been prepared in accordance with the provisions applicable
to companies, subject to the small companies, regime.
Appr
the Trustees on
zi:trJJi
nd signed on their behalf.
li
Trustee
The notes on pages 11 to 17 form part of these financial statements
Company registration number.. 01772423 (England and Wales)

THE SALTISFORD CANAL TRUST LIMITED
Page11
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST OCTOBER 2024
1. Accounting Policies
Charity infomiation
The Saltisford Canal Trust Limited is a private company limited by guarantee
incorporated in England and Wales and a registered charity. The registered office is
Budbrooke Road, Warwick, CV34 5RJ.
Account Convention
The charity constitutes a public benefit entity as defined by FRS 102. The financial
statements have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland issued in October 2019, the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act
2011, the Companies 2006 and UK Generally Accepted Accounting Practice.
The accounts do not include a cash flow statement on the grounds that it is applying
FRS102 Section 1A.
The financial statements are prepared on a going concern basis under the historical
cost convention, modified to include certain items at fair value.
The financial
statements are presented in sterling which is the functional currency of the charity and
rounded to the nearest £.
Golng concern
The financial statements have been prepared on a going concern basis as the trustees
believe that no material uncertainties exist. The trustees have considered the level of
funds held and the expected level of income and expenditure for 12 months from
authorising these financial statements. The budgeted income and expenditure is
sufficient with the level of reserves for the charity to be able to continue as a going
concern.
Depreciatlon of tangible fixed assets
Depreciation has been computed to write off the costs of tangible fixed assets over
their expected lives using the following rates on a straight-line basis..
Plant and machinery - 100/0
Equipment - depreciated at 100/0 or 33.33 %
Fixture & Fittings - depreciated at 200
Buildings - depreciated over 21 years
Income recognition
Donations are recognised on receipt. Other incoming resources are recognised when
the charity is legally entitled to if after any performance condition have been met, the
amounts can be measured reliable, and it is probable that the income will be received.

THE SALTISFORD CANAL TRUST LIMITED
Page 12
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST OCTOBER 2024
Expenditure recognition
All expenditure is accounted for on an accruals basis. Charitable grants made to
organisations for improvements and maintenance of the canal and moorings are
charged to the Statement of Financial Activities in the year in which the Expenditure is
incurred. Resources expended include VAT in the instances that it cannot be
recovered.
Support costs are allocated between the expenditure categories of the Statement of
Financial Activities on a basis designed to reflect the use of the resources. Costs
relating to a particular activity are allocated directly.
Stock
Stocks are stated at the lower of cost and estimated selling price less costs to complete
and sell. Cost comprises direct materials and those overheads in that have been
incurred in bringing the stocks to their present location and condition. Net realisable
values are the estimated selling price less all estimated costs to completion.
Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance
of the general objectives of the charity and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees
for particular purposes. The aim and use of each designated fund are set out in the
notes to the financial statements.
Restricted funds comprise of donations given for a specific purpose.
Donations and subscriptions
2024
2023
Donations
Trust members subscriptions
1,260
1,422
1,801
1,302
Total donations and subscriptions from indlvlduals
£2,682
£3,103
Severn Trent Water
Warwick Mayor's Fund
9,880
500
Total revenue grants
£10,380
Total donations and subscrlptions
£2,682 £13,483

THE SALTISFORD CANAL TRUST LIMITED
Page13
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST OCTOBER 2024
Investment income
2024
2023
Bank interest
£422
£244
Charitable activities
Unrestricted
Funds
Designated
Funds
Total
2024
Total
2023
Wages
Pension contributions
Subscriptions
Pumpout expenses
Shop purchases
Site Improvements
Rent, rates and water
Heat and light
30,760
335
61
240
26,561
18,069
18,295
2,536
30,760
335
61
240
26,561
18,069
18,295
2,536
42,268
406
58
770
22,025
20,072
18,425
3,148
Other tradin
costs
Shop purchases
Room hire expenses
1,121
2,087
1,121
2,087
1,202
2,606
ort costs
Note 5
24,109
3,115
27,224
26,273
£124,114
£3,115 £127,229 £137,253
Support costs
Unrestricted
Funds
Designated
Funds
Total
2024
Total
2023
Wages
Pension contributions
Insurance
Post and stationery
Telephone and internet
Advertising
Computer and software
Bank charges
Miscellaneous
Travelling
Depreciation
3,418
37
4,013
1,973
2,006
200
2,003
830
764
330
8,535
3,418
37
4,013
1,973
2,006
200
2,003
830
764
330
11,650
4,696
45
3,928
1,929
1,138
125
1,154
790
682
847
10,939
3,115
£24,109
£3,115 £27,224
£26,273

THE SALTISFORD CANAL TRUST LIMITED
Page 14
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 318T OCTOBER 2024
Other costs
2024
2023
Trustee Remuneration (Note 18)
Legal and professional fees
Independent Examiner's fee
Accountancy fees
HMRC interest & penalties
16,902
1,200
1,249
997
793
1,182
968
72
£19,124
£4,239
Staff salaries
2024
2023
Salaries
Employer's National Insurance
£34,178
46,964
£34,178
£46, 964
Pension
£372
£451
The number of full and part-time employees was as follows:
Administration
No employee received emoluments over £60,000 in the year
Tangible fixed assets
Fixture &
Flttings &
Equipment
Plant &
machlnery
Buildlngs
Total
Cost
At 1 November 2023
Additions
Disposal
£57,879
£53,139
£67,249
£5,460
£178,267
£5,460
At 31 October 2024
£57,879
£53,139
£72,709
£183,727
Depreclatlon
At 1 November 2023
Written back
Charge for year
£20,507
£14,692
£60,317
£95,516
£3,115
£5,314
£3,221
£11,650
At 31 October 2024
£23,622
£20,006
£63,538
£107,166
Net book value
At 31 October 2023
£37,372
£38,447
£6,932
£82,751
At 31 October 2024
£34,257
£33,133
£9,171
£76,561

THE SALTISFORD CANAL TRUST LIMITED
Page 15
ST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024
Debtors
2024
2023
Prepayments
Other debtors
1,139
3,241
27
£1,199
£3,268
10. Creditors - Amounts falllng due withln one year
2024
2023
Accruals and deferred income
Taxation and social security
14,391
5,921
11,535
3,934
£20,312
£15,469
11. Taxation
There were no Corporation tax liabilities as at 31 $1 October 2024. (2023,. £NIL)
12. Share Capital
The Trust is a charitable company, limited by guarantee with no share capital. The
TrusteeslDirectors of the company may register such persons as they agree as members
of the company and the liability of each member on a winding up towards the liability of
the company is limited to £1.
13. Designated funds
At 31st October 2024 there were designated funds of £34,257 (2023.. £42,343), These
funds relate to the recognition of the deferred capital grant income, which had been
transferred from Saltisford Canal Trading to Trust. The capitals grant was used to
construct the Pod building and its contents, which were also transferred from Saltisford
Canal Trading to Trust. The depreciation charged each year on the Pod building and its
contents will be set against the designated funds to reflect the net book value of the
assets.
14. Restricted funds
There were no restricted funds in 2024 (2023: £NIL).

THE SALTISFORD CANAL TRUST LIMITED
Page16
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST OCTOBER 2024
15. Funds
Deslgnated
Fund
General
Fund
Total
Balance at 1 November 2023
Income in year
Fund transfers in the year
Expenditure in year
£42,343
£94,200
144,685
4,971
(143,238) (146,353)
£136,543
144,685
(4,971)
(3,115)
Balance at 31 October 2024
£34,257
£100,618
£134,875
Designated
Fund
General
Fund
Totsl
Balance at 1 November 2022
Income in year
Expenditure in year
£45,458
£75,000
157,577
(138,377)
£120,458
157,577
(141,492)
(3,115)
Balance at 31 October 2023
£42,343
£94,200
£136,543
16. Analysis of net assets between funds
Designated
Fund
2024
General
Fund
2024
Total
2024
Fixed assets
Current asset8
Current liabilities
34,257
42,304
78,626
(20,312)
76,561
78,626
(20,312)
£34,257
£100,618
£134,875
Designated
Fund
2023
General
Fund
2023
Total
2023
Fixed assets
Current assets
Current liabilities
42,343
40,408
69,261
(15,469)
82,751
69,261
(15,469)
£42,343
£94,200
£136,543

THE SALTISFORD CANAL TRUST LIMITED
Page 17
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 315T OCTOBER 2024
17. Related party transactions
During the year, trustee and director Simon Brittain was paid £16,902 {2023'. £1,200)
for work carried out to support staffing requirements, in line with the Articles of
Association.
18. Trustees, remuneration and expenses
During the year, trustee Simon Brittain was paid £16,902 (2023.. £1,200) for work
carried out to support staffing requirements, in line with the Articles of Association.
One trustee was reimbursed for travel expenses totalling £330 (2023.. £660)