Registered number.. 02456172
Charity nvmber.. 702429
Lichfield ond Hatherton Canals Restoration Trust Limited
Trustees, Report ond Finonciol Stotements
For the yeor ended 30 November 2024
JDAINS
> AUDIT

Lichf ield ond Hatherton Canals Restorotion Trust Limited
(A company limlted by gvarontee)
Contents
Page
Reference and Admlnistratlve Detoils of the Compony, its Trustees and Advisers
Chairman's Statement
Finance report
Trustees. Report
7-10
Independent Exominer's Report
Consolidated Stotement of Financiol Activities
13
Consolidgted Bolonce Sheet
14-15
Company Balonce Sheet
16-17
Notes to the Financial Statements
18-43

Lichfield ond Hotherton Canals Restorotion Trust Limited
(A company limlted by guarantee)
Reference and odministrotive detoils of the Company. its Trustees and advisers
For the yeor ended 30 November 2024
Trustees
C M Bull (resigned 11 November 2024)
J N Morch
P H Buck (resigned 14 June 2024)
l H Coplon (resigned 14 June 2024)
C R Booker
C M Howles
DWLord
C D Mills. Choir
R O Willioms
C A Bailey (oppoinled 14 June 2024)
N A Jolliffe (oppointea 14 June 2024. resigned 25 October 2024)
Company registered
number
02456172
Chority registered nvmber 702429
Reglstered off ice
St John's CoLJrl
Wiltell Rood
Lichfield
Stoffordshire
WS14 9DS
Company secretary
C R Booker
C M Habart (resigned 10 December 2025)
President
E Wood
Accountants
Doins Audit Limited
2 Chomberloin Squore
Parodise Circus
Birminghom
83 3AX
Poge 1

Lichfield ond Hatherton Canols Restoratlon Trust Limited
(A compony limited by gvorantee)
Chair's stotement
For the yeor ended 30 November 2024
The choirmon presents her stolemeni for the year.
The Trust hos enjoyed another successful year. We've achieved severol key milestones as we work to fulfil our vis10n to
rebuild. resiore and reconnect the canols to the notionol network. creating o new golewoy to the 8irminghom Conal
Novigotions.
As on entirely volunteer-led locol charity. we ore very proud of our hardworking volunteers who dedicole so much of
their personal lime to creoting o volLJed lasting legacy for the orea.
They couldn'i hove mode such greot progress without the continued support of our members. donors, funders, portners
ond sponsors
Together we've colloboroted as o leom in estoblishing precious green and blue spoces for the
community to enjoy.
Restorotion
The focus in 2024 hos ogoin been on the Lichfield Conol. At Tamworih Road 110m of brick retaining woll was built. 80m'
concrete foundotions Ioid and 40 gobion coges were filled ond instolled. 12m of conol bed ond woterwoy wolls were
conslrucled ond 100m of safety fencing erected. Th1s required the excovotion ond removol of 4.500 tonnes of 5011.
Neonwhile ot Fossewoy. 70m' of concrete foundation wos laid. 44 9obion coges sited, 20m of woterwoy woll
constructed. 68m of steel piles insialled ond 600m' of spoil wos used to bockf ill. A new 45m occess wos creoied and
three gote5 were put in place.
We now hove 3.5km of conol either completed or under construction, with 0.9km in woter at Borrowcop Locks and
Dornford t4Dors.
Two porcels of lond oi St John's Gronge were tronsferi.ed to us in the autumn ond June 2024 sow the gronling of
plonning consent for our next phose of work ot Tomworth Road.
Environment
Our environmentol credentiols ore very importoni to us ond the development ond mointenonce of our green spoces is
on integrol port of our restorotion activity.
The plonting ot Dornford Noors Eco5ogy Park Is moluring nicely. ond the site is home to a variety of wildlife including
ducks, Insects. moorhens. wildflowers and even (briefly) o swon.
Our green ond groun(is teom comprises odults, young people undertoking the Duke of Edinbur9h oword, Scouts ond
pupi15 f rom Queen's Croft School. Together they've planted 420 hedging whips donoted by the Woodlond Trust to infill
gops In the bunds. eight fruit irees in the orchord ot Borrowcop Locks ond 30 soplings in our nursery which will be loter
moved to vorious sites post construclion. They've di11gently cvt bock and disposed of over 4.OOOm' of brombles. Gross
and wildflower seeds hove olso been scaitered ond countless weeds pulled.
Volunteers
We hod 155 active moinstream volunteers this yeor who recorded 17.573 hours on Trust timesheets, equivolenl to 2.375
doys of volunteering effort Over 8.300 hours were speni on construction plont ond hoolth ond sofety. c2.260 on green
ond grounds work. c2.400 on events. morketing. soles ond publicity with onother 4.600 behind the scenes on finonce.
grant opplicotions. plonning opplicotions, lond ocquisitions. meetings with slokeholders ond 01l-imporlonl governonce.
Converting oll this freely given time into a notionol monelory volue shows that olmost £lm of worktime wos donoted in
2024.
Poge 2

Lichfield and Hatherton Canals Restorotion Trust Limited
(A company limited by guarantee)
Chair's statement (continued)
For the year ended 30 November 2024
We olso hosted corporote and Woterwoy Recovery Group volunteers throughout the yeor.. 25 sessions from 13
employers. totaling 239 people. Every contribution is hugely opprecioted.
Membership
Our membership base continues lo grow, ond we ended 2024 with 2.443. We ore Immensely grateful to oll who
embraced our first subscription increose since the Trusi wos estoblished in 1988. As o result of Ihot ond the generous
donotions mode olongside onnuol renewols. we received on oddilionol £8k io fund our re5torolion activity.
Our members ore Incredibly importont to us. As odvocates ond supporters. their engagement vio events. fundroising.
sociol medio ond volunleering enoble5 the Trust to moke good progress. increase visibility and enhonce susloinobility
Some hove involuable connections with business, public ond voluntory sector organisotions os well os funders,
influencers ond decision mokers.
Ambos50dors
We welcomed four new ombossodor5 this yeor. These new roles ore filled by people in the public eye who ore well
ploced to extend LHCRT'S reoch to o widei. audience thereby increosing oLr membership bose ond f unding succe$5.
Thank you to Stephen Court of Court obove the Cul YouTube chonnei. internationally recognised ortist Corl Knibb. poe,,
playwright ond former youth ond community worker Roy HcForlone and Joss Musgrove-Knibb
outhor. poet ond
historion. lor all they do for LHCR T.
Finonce ond Funding
The Trust is responsible for the stewardship of net ossets of over £0 829m. with income last yeor of £0.254m and
expenditure of £0.148m. Our cumulotive expenditure since 1990 hos been over £6.2 million.
There has been tremendous work on gront opplicolions by severol of our tru51ees ond officers - o vital ond signiliconl
source of funding for the reslorolion.
The finonce portfolio includes responsibility for prepoi-otion of monthly
manogement occounls. VAT ond Gift Aid returns. occounting for oll our Income ond spending. ond Iioison with external
oodilors.
Communicotion ond Event5
As a charity it's imporlonl to be open and transporent obout whol we're doing ond plonning. so our lolented
communicotions and morketing team keep people Informed. Weve seer) our sociol medio following (Focebook.
Bluesky, YouTube. Instogrom. Linked In ond TikTok etc.) Increose to 2',.401. Our informative website hod olmost 20.000
users and over 100.000 views in 2024 The ever-populor Cut Both Woys quorterly mogozine is ovoiloble digitolly ond in
hord copy os part of our membership offer.
The teom olso plonned. coordinated ond executed o ronge of events from the Lichfield Iok water station. Lichfield
Cothedrol Christmos tree festivol, ond outumn show to Eric's oll day Easter coffee morning, the 8rownhills Conol Festivol
in August ond guided wolks throughout the yeor.
Poge 3

Lichfield and Hatherton Conols Restorotion Trust Limited
(A company limited by guarantee)
Choir's statement (continued)
For the yeor ended 30 November 2024
Operotionol Planning
With such substantiol funds ond big ombilions. it's essentiol thot we're cleor about our priorities. We successfully
completed our 2023/24 Operational Plan comprising 80 octions ond hove since lounched our 2025/26 Operolionol Plon
contoining 100 octions. This focuses on construction ol Tomworth Rood ond Gollows Whorf whilst devoting importont
ottention to our pipeline projects ot Darnford Moors, St John's Grange ond Folkland Rood to work through vorious
funding, lond plonning ond technicol issue5
It continues lo be o very productive ond exciting time for LHCAT and all those ossociated with the Trust.
Choir
Dote".
Trustees
June 2025
Poge 4

Lichfield ond Hotherton Canols Restorotion Trvst Limited
(A compony Ilmited by guorontee)
Finance report
For the year ended 30 November 2024
Restoration Progress
The Trust's extensive work through 2023 to bring Dovnford lQioors Ecology Pork to completion In water along it5 550m
length with its special Community, Hobitot and Environmentol features come to be odmired by oll ot locol, regionol ond
notional levels. A formol public opening on 12th April 2024 wos ottended by mony contributing dionitaries omong 300
V15itors. At o totol cost over £700,000 from gronts and Trust resources plus on ample meosure of volunteer lobour, it is a
mojor step towards re-opening the Lichfield Conol. Regrettobly. the dedicated conal lond does not commond o resole
volue on the open market to supplemeni our Fixed Assets, but brought o mossive reputotionol goin to odcl lo the Trust's
record of ochievements as we go forword with comporoble gains expected in 2025.
Bolance Sheet - Fixed Assets
Ogley Cottoges Nos.271 ond 272 had been conal company cottoges from c.1810, ocquired by the Trust 20 years ogo os
freehold properties ol the summit ol the Lichfield Conol with good tenants in residence. Legally mortgoged to the
Choritu Bonk os tongible security for the loon noled De'.ow. their deprecioted comb"'ned volues of £420,636 give an
estimoted hidden reserve of obout £30.000 ogoinst probob'.e open market volues.
17 oreos of conol site possessions. donoted over mony yeors by Districi and County Covncils. hove a historic cost of
£165.686. Additionally, over 25 yeor5 there ore 12 oreos of other londs ond slrvclures which were built by or for LHCRT
ot o historic cost estimoled oboul £4.500.000, voluoble os benefits but unrealisable 05sets due to their dedicoled
locotions such as roodwoys.
Owned plont wos supplemented by the purchose of used Hitochi excovotor funded from o Big Give Compoign ond o
Nison Novora crew-cab truck for teom movements with plonl and moleriols toking the deprecioted lolal to £51.140.
Balonce Sheet - Current assets ond liobilities
Our wholly-owned subsidiory compony for non-chori:oble retoil trode owed £1.612 from stock and cash. Various f unds
held f ollow regulor proctice for Land and Property. Plont ond Restoration work, ond governonce as reserves avoiloble
for projected expenditure.
The David Suchel Tunnel Vision Fund remoins open with regulor lopping-up from generol donolions towords ottrocting
moior gronls for o conol tunnel through the Birminghom roilwoy. just South of Lichfield. or potentiolly under mojor
roads which could be more expedient in connecting the Lichfield Conol lo the inlond wolerways system. Notional
Highwoys could potentially offer hi9h value funding for such projects.
A gront reserve of £34.380 remains avoiloble for work on the Summerhill section ot the M6Toll motorwoy oqueduct. The
Chority 8onk mortgoge loon noted obove proves vitol for holding substantial cosh reserves to meet high volue controct
expenditure ond VAT turnover in odvonce of cloiming gront ond tox refunds which typicolly ore only ovoiloble in
arfeors.
Income & Expenditure Account - Income
Membership subscriptions of £23.216 (Trust + Morketing). show o consideroble increose (2023 £14.647), reflecting the
uplift on previous subscription fees to o level comporoble with other similor groups in the UK. These were supplemented
with voluntary donations of £3.040 for which we ore always groteful moking the overoge omounl of £15.43 per poying
member. The cost of servicing oll members wos on overoge £2.47 per heod which is down to 16.0¢/o of bosic
subscriptions with prudent odminisirotlon ond greoter use of electronic correspondence and cenlrol magazine moiling.
Poge 5

Lichf ield and Hatherton Canals Restoration Trust Limited
(A company limited by guarontee)
Finance report continved
For the year ended 30 November 2024
Donotions cor)tinue to flow into established funds os appeals ottrocT donotions from oround the UK ond obrood
responding to widespread promorion across o ronge of medio plotforms. including globol YovTube exposure. Morketing
ond Retoil Troding generoted another good return with income of £25.038 (2023 £26.673. exclvding the bi-onnuol
Huddlesford Heritoge Gothering). reflecting the efforts made by the Trust Morkeling Group and Sociol Medio exposure.
It wos pleasing to receive exceplionol income derived from three legocies worth nearly £IOO.000 as voluoble reserve
funds to support ongoing work.
Income & Expenditure Account- Expenditure
The Hotherton Canal is kept in view to ossess ony Impoct on the section In woler offecting its owr)ers, Conol ond River
Trust for lis long-term potentiol lo reopen to novigotion. if possoge Under the M6motorwoy becomes possible.
Restorotion focused on the Lichfield Canol thonks lo the Trust's stalwort volunteers. oided by mony visiting teams.
moking svbstontiol progress on severol sites.
A porticulor benefit from soving expendilvre come when Persimmon Homes made free tronsfer to the Trust of 500m of
portly excovoted conol lond with two overbridges between the Lichfield Southern Byposs ond their St. John's Gronge
estate. Additionally. Stoflordshire County Council after 20 years of deliberotion provided free ti'onsfer of 500m of lond
for the conol in the reserved environmental corridor alongside Falklond Rood on the Southern Byposs. but excluded
provision for" a canal bridge that will be needed between them on Cloypil Lone.
Conclusion
A very successful yeor oll round. thonks to extensive fundirng support with volunteer monogement and loboui. holding
down running costs. con51derably aide(J by mony groups of visiting corporoie employee teoms. ond free professionol
nput. Structured volunteer lime records ore kept.. converted by value these omounted to £986.959 for the year.
Approved by order of the boord of Trustees on 6 June 2025 ond signed on its behalf by..
R O William
Finonce Director
Poge 6

Lichfield and Hatherton Canals Restoration Trust Limited
(A company limited by guarantee)
Trustees, report
For the year ended So November 2024
The Trustees present their onnuol report together with the f"'noncial slolements of the Lichfield ond Hotherlon Conols
Restorotion Trust Limired for the period l December 2023 to 30 November 2024. The Annuol report serves the purposes
of both o Trustees, report ond o directors, report under compony law. The Trustees confirm that the Annual report ond
f inoncial stotements of the choritable compony comply with the current stotutory requirements, the requirements of ihe
choritoble compony's governing document ond the provisions of the Stotement of Recow.mended Practice (SORP)
opplicoble to chorities preporing their occounts in occordonce with the Finonciol Reporting Stondord opplicoble in the
UK ond Republic of Irelond (FRS102) (effective 1 Januory 2019).
Since the group ond the Compony qualify os smoll under section 383 of the Companies Act 2006. the Group strotegic
report required of the medium ond large componies under the Companies Act 2006 (Strotegic Report ond Directors,
Fleport) regulotions 2013 hos been omitted
Objectives ond octlvitles
o. Policies and objectives
Tbe principal objective ond octivity of :he Comp¢ny Is the promotion of the restoration of the Hotherton Bronch of the
Stoffordshire and Worcestershire Conol ond the Wyrley ond Essington Cano1 from the Ogley Junctiorn to Huddleslord
Junction including the provision of new routes where restoration is improclicol.
The Trustees hove the doy to doy running of the choritu, ossisted by the officers ocusing on specific subjects.
In setting objectives ond planning for activities. the Trustees hove given due considerotion lo generol guidonce
pvblished by the Chority Commission reloting to public benefit. including the guidonce 'Pub1ic benefit.. running o chority
(PB2)'.
b. Slrotegies for achieving objectlves
The Trustees of the chorily ore owore of the Chority Commission's guidonce on public benefit ond this now forms porl
of the Induction Pock for new Trustee5.
The Public Benefit provided by the Chority Include..
conserving the environment
preserving o beoutiful londscope
developing on omenily ovoiloble to oll
The beneficiories ore oll members of the public ond locol community. Further deloils con be found in the Choirmon's
stotemeni ond the Operating and financiol review.
Poge 7

Lichfield and Hatherton Conals Restoration Trust Limited
(A company limited by guarantee)
Trvstees, report (continued)
For the year ended 30 November 2024
Achievements and performonce
a. Review of Transactions and Financial Position
Detoils of the Ironsoclions, which disclose o surplus for the 12 month period ended 30 November 2024 of £75.607 (11
month period ended 31 December 2023 deficit of £208.843) ond finonciol position ore fully set out In the Statement of
Finonciol Activities, Bolonce Sheet ond associoled notes
Monies hove been invesled during the yeor. in occordonce with the powers ovoiloble io the Trustees. The Company's
ossets ore availoble ond adequate to fulfil Its obligotions
Financial review
a. Going concern
After moking oppropriole epquiries. the Trustees have o reosonable expectotion thot the company has odequote
resources to continue in operotionol existence for the foreseeob.'e future For this reoson. they continue lo adopt the
going concern basis In preporing the finonciol stotements.
b. Reserves policy
The Trvstees have exomined the chority's requirements for reserves in light of the main risks lo the organisation_
11 is the Ti"ustee's policy to mointoin suff Icient reserves to finance the doy to doy running of the charity for o period of
opproximotely 12 months. The unrestricted reserves of the group ot So November 2024 omounted to £555.579 (2023
£568.162) ond will be sufficieni to support the chorily in the immediote future
The Trustees hove reviewed the mojor internal ond externol risks to which the charity is exposed and systems hove
been estoblished to miligote ihose risks. These procedures ore periodically reviewed to ensure thot they still meet the
needs of the chority.
Structure. governonce and management
o. Constitution
Lichfield and Hatherton Conols Restoration Trust Limiied Is registered os o choriloble compony limited by guarontee
ond wos set up bu o Memorondum of Associotion on 1 December 1989.
11 Is registered os o charity with the Chority Commission, number 702429. ond constituted Ljnder a Memorondum of
Associotion. Anyone over the oge of 18 con be o member of the company and there are 2 443 members. eoch of whom
Qgree to contribute, whilst being o member or for a period ol twelve months following ceosing to be o member. on
afflount not exceeding £1 in the event of the cho". Itu winding up.
Poge 8

Lichfield and Hatherton Canols Restorotion Trust Limited
(A company Ilmited by guarantee)
Trustees, report (continued)
For the year ended 30 November 2024
Structure. governance ond management (continued)
b. Methods of appointment or election of Trvstees
The mono9ement of the Group ond the Compony is the responsibility of the Truslees who ore elected ond co-opied
under the terms of the Memorandum of Associotion.
c, Risk Monagement
The Trustees hove assessed the rr,ojor risks to which the Group ond tne Compony ore exposed. in particulor those
reloted to the operotlons ond finonces of the Group ond the Compony. ond ore satisfied that systems ond procedures
ore in place lo mitigole exposure to the mojor risks.
Members, liobility
The members of the Compony gb'orontee to contribute an omounl not exceedir,g £1 to the o55ets of the Compony 1ri
the event of winding up.
Directors and Trustees
The Directors of the choritable compony (the chority) ore ils Trustees for the purpose of the charity low and throughout
thig report ore collectivels referred to os Ihe Trustees.
The Trustees serving during the yeor con be seen on the reference ond administrotive poge of these finoncial
siotemenls.
The Trust hos mode indemnily provisions for the benefit of the Directors which remoin in force al ihe dote of this I"eport.
Organisation
The boord of Trustees comprises not less than S ond not more thon 15 members unless otherwise determined by a
Generol Meeting. The board ministers the chority, it meets ot leosl 12 times per year and moinloins a regular flow ol
information.
Risk 0sse5sment
The major risks lo which the Chorily Is exposed hove been identified ond reviewed by the Trustee5. and system5
esloblished lo mitigate those risks. The Trustees hove o risk monogement strategy which comprises".
An onnuol review of the r15ks the chority moy foce..
The establishment of systems ond procedures to mitigate those risks Identified by the plon.. ond
The implementotion of procedures designed to minim'.se ony potentiol impoct on the chority should those
risks materialise.
Poge 9

Liehfield ond Hotherton Canals Restorotion Trust Limited
(A company limited by guorontee)
Trvstees, report {continved)
For the year ended SO November 2024
Statement of Trvstees, responsibilities
The Trustees (who ore OISO the directors of the Company for the purpose5 of compony low) ore responsible for
preparing the Trustees, report and the finonciol stotements in occordance with opplicoble low ond United Kingdom
Accounting Stondords (United Kingdom Generolly Accepted Accounting Practice).
Compony low requires the Trustees to prepore finoncial slotemenls for eoch financial period Under compony low. the
Trustees musl not approve the financiol statements vnless they are sotisfied thot they give o true and foir view of the
stole of offoirs of the Group ond the Compony ond of their Incoming resources or.d opplicotion of resources. including
their incomè and expenditure. for thc3t period. In preparin9 these finonciol statements. the Trustees ore required to..
select suitoble occounting policies and then opply them consistently..
observe the methods ond principles of the Chorities SORP (FRS 102)..
moke judgments ond occounting estimotes thot are reasonoble ond prudent..
stote whether opplicoble UK Accounting Stondords (FRS 102) hove been followed, subject to any molerial
deportures disclosed and explained in the finonciol stotements..
prepore the f inonciol stolemenls on the goino concern bosis unless il is inoppropriote to presume that the Group
will continue In business.
The Trustees ore responsible for keeping odequote occounting records thot ore sufficient to show ond exploin the
Group ond the Compony's Ironsoction5 and disclose with reosonoble occurocy oi ony time the finonciol position ol the
Group ond the Compony und enable them lo ensure thot the finonciol stotements comply with the Componies Act 2006.
They ore olso resporisible for sofeguord'ng the osseis of the Group ond the Componu ond hence for toking reosonoble
steps for the prevention ond detection of froud and other irregulorities.
Approved by order of the members of the boord of Trustees on 6 June 2025 ond signed on their beholf by..
Choir
Poge 10

Lichfield ond Hatherton Canals Restorotion Trust Limited
(A company limited by guarantee)
Independent Exominevs Report
For the year ended 30 November 2024
Independent Examiner's Report to the Trustees of Lichfield ond Hotherton Conals Restoration Trust
Limlted ('the Group,)
I report lo the chority Trustees on my exominotion of :he consolidated accounts of the Group comprising the Lichfield
ond Hotherton Conols Restorotion Trust Limited ('the porenl Compony,) ond ils subsid50ry undertokings for the yeor
ended 30 November 2024.
Responsibilities and Basis of Report
As the Trustees of the parent Company (ond ils directors for the purposes of compony low) you ore responsible for the
preporolion of the consolidoted accounts of the Group In occordance with the requirements of the Componies Act 2006
('the 2006 Act,) ond you hove chosen to prepore consolidoted occounts for the Group. You ore satisfied thot the
accounts of both porent Compony ond the Group ore not required by either compony or chority low to be oudited and
hove chosen insteod to hove on independent examination.
Having satisfied myself thot the consolidoted occounts ore not required lo be oudiled ￿nder Port 16 of the 2006 Act ond
ore eligible for independent exominotion. I report in respect of my exominotion of the Group's OCCOLJnts corried out
under section 152 of the Chorities Act 2011 ('the 2011 Act,). In corrying out rny exomination I hove followed the Directions
given by the Chority Commission Ljnder section 152(5)(b) of the 2011 Act
An independent exominolion does not Involve goihering oll the evidence thot would be required in on oudit ond
consequently does not cover oll the motlers Ihot on ovditor considers in giving their opinion on the occounts. The
planning ond conduct of an oudit goes beyond the limited assurance that an independent examinotion con provide.
Consequently l express no option os to whether rhe consolidoted occounls present a 'lrue ond foir, view and my report
is limited to those specif ic matters set OLJt in the independent exominer's Stotement.
Poge 11

Lichfield and Hotherton Canols Restoration Trust Limited
(A compony limited by guorontee)
Independent Examiner's Report (contlnved)
For the year ended 30 November 2024
Independent Exominerf5 Statement
Since the Trustees have opted to prepore consolidoted occo(Jp.ts for the Group your exominer must be o member of o
body listed In section 145 of the 2011 Act. I confirm that l om qvolified to undertake the examir)otion becouse l om o
member ol Institute of Chorlered Accountonts in England ond Woles. which is one of the listed bodies.
I hove completed my exominotion. I confirm thol no matters hove come to my oltention in connection with ihe
exominotion giving me couse to believe..
occount,"ng records were not kept in respect of the porent Compony and its subsidiories os required by section
386 of the 2006 Act". or
the occounls do not occord with those records. or
the occounts do not comply with the occouniing requirements of section 396 of the 2006 Act other thon ony
requirement thot the accounts give o
rue ond fair, view which is not o motter considered os port of on
independent exam,'notlon'. or
the occovnts hove not been prepared in accordance with the methods and principles of the Stotemenl of
Recommended Practice for occounting ond reporting by chorilies [opplicoble to chorities preparing their
occounts in accordonce with the Financial Reporting Stondard opplicoble in the UK ond Republic of Irelond (FRS
102)].
I hove no concerns ond hove come ocross no other motlers in connection w.th the examinolion to which attention
should be di'awn in this report in order to enable o proper understonding ol the occounts lo be reached.
This report is made solely to the Compony's Trustees, os o body, In occordonce with Port 4 of the Chorities (Accounts
ond Reports) Regulations 2008. My work hos been undertaken so that I might stote to the Compony's Trustees those
motters l om required to stote lo them in on Independent examine. s report and for no other purpose. To the fullest
ex:ent permitted by low. I do not occept or ossvme responsibility lo onuone other thon the porenl Company ond the
Compony's Trustees os o body. for m ￿ work or for this report.
Signed..
Doted. 6 June 2025
Nork Gurney FCCA
Doins Audit Limited
Birminghom
Poge12

Lichfield and Hatherton Conols Restorotion Trust Limited
(A company limited by guoruntee)
Consolidated Stotement of f inancial octivities (incorporating income ond expenditure account)
For the year ended 30 November 2024
Unrestricted
funds
Restricted
Total
funds
Totol
funds
funds
12 month
12 month
12 month 11 month period
period ended period ended period ended
ended
30 November
30 November
SO November
30 November
2024
2024
2024
2023
Note
Income from..
Donotions ond legacies
Other trading octivities
58.844
158.301
217.145
589.853
2.618
2,618
3,566
Investments
32,543
32.545
31,138
Totol income
94.005
158.301
252.306
624.557
Expenditure on..
Qoising funds
Charitoble octivities
11.259
11.259
7,496
82.875
82.565
165.440
825.904
Totol expenditure
94.134
82.565
176.699
833,400
Net (expenditvre)/lncome
Tronsfers belweeri funds
(129)
(12,454)
75.736
75,607
(208.845)
19
12.454
Net movement in fund5
(12.583)
88,190
75,607
(208.843)
Reconciliation of fvnds-
Totol funds brought foi'ward
Net movement In funds
568.162
182.582
750,744
959.587
(12.583)
88,190
75.607
(208.843)
Totol funds carried forword
555.579
270,772
826.351
750.744
The Consolidoted Statement of Finonciol Activi:ies includes 015 goins ond losses recognised in the yeor.
The notes on poges 18 to 43 form port of these finonciol statements,
Poge 13

Lichfield and Hotherton Conals Restorotion Trust Limited
(A company limited by guorantee)
Registered nvmber.. 02456172
Registered number.. 02456172
Consolidated balance sheet
As at 30 November 2024
2024
2023
Note
Fixed assets
Tongible assets
13
637.516
645.065
Current ossets
Stocks
15
1.568
1,664
Debtors
16
11.323
33.106
Cosh oi bonk ond in hond
313,976
254.653
326.867
289.423
Creditors.. omount5 folling due within one yeor
17
139,113)
(38.201)
Nèt current assets
287,754
251222
Totol assets le$5 current liobilities
92S.070
896.287
Creditors.. omounts fallinG due after more thon
one yeor
18
(98,719)
{145.543)
Total net assets
826.351
750.744
Charity fvnds
Restricted funds
19
270.772
182.582
Unrestricted funcgs
19
555.579
568.162
Total funds
826.351
750.744
Poge 14

Lichfield and Hatherton Canols Restoration Trust Limited
(A compony limlted by guarantee)
Registered number: 02456172
Consolidated balance sheet (continued)
As at 30 November 2024
The Compony wos enliiled to exemption from oudit under section 477 of the Componies Act 2006.
The members hove not required the company to obtoin on oudit for the yeor in question in occordonce with section 476
of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with. the requirements of the Act with respect to
occounling records and preporotion of financial stotements.
The finonciol stotements hove been prepared in accordonce with the provisions opplicoble to enlities subject to the
small componies regime.
The fi
behol
ol stotements were approved ond outhorised for issue the Trustees on 06 June 2025 ond signed on their
Is
Choir
The notes on poges 18 10 45 form port of these finonciol stotements.
Poge15

Lichfield and Hotherton Conols Restoration Trvst Llmited
(A company limited by guarantee)
Registered number.. 02456172
Compony bolonce sheet
As ot 30 November 2024
2024
2023
Note
Fixed assets
Tongible assets
Investments
13
637.316
645,065
14
1.000
1,000
658.316
646.065
Current 05sets
Debtors
16
12.935
35.548
Cosh ot bonk oncj in hand
312,686
252.880
325.621
288.428
Creditors.. omounts folling dLJe wilhin one yeor
17
(38.867)
(38,206)
Net cvrrent ossets
286,754
250.222
Totol assets less current liabillties
925.070
896.287
Creditors.. amounts folling due after more thon
one yeor
18
(98.719)
(145.543)
Totol net assets
826,351
750,744
Charity fvnds
Restricted funds
19
270.772
182.582
Unrestricted funds
19
555.579
S68.162
Total funds
826,351
750,744
Poge 16

Lichfield ond Hotherton Canols Restoration Trust Limited
(A compony limited by guarantee)
Registered number.. 02456172
Company balance sheet (continued)
As ot 30 November 2024
The Compony's nel movement in funds for the yeor wos £75.607 (2023- (£208.843)).
The Compony wos entitled to exemption from audit under section 477 of the Componies Act 2006.
The members hove not required the compony to obtain on oudit for the yeor in question in occordonce with section 476
of Componies Act 2006.
The Trustees ocknowledge their respons,"b51ities for complying with the requirements of the Act with respect to
occovniing records and preporalion of financiol slolemenls.
The finonciol stotements hove been prepored in accordance with the provisions applicable to entities subject to the
smoll componies regime.
The fi
I stotements were opproved ond authorised for issue by the Trustees on 06 Jvne 2025 ond signed on their
behol
Is
Choir
The notes on poges 18 10 43 form port of these finonciol stolements.
Page 17

Lichfield ond Hotherton Conols Restorotion Trvst Limited
(A compony limited by guarantee)
Notes to the financial statements
For the year ended 30 November 2024
General Information
Lichf ield and Holherton Conols Flestorotion Trust is a private compony liTr,ited by guaronlee. incorporaled in the
United Kingdom. registered in England ond Woles ond registered as o Chority with the Charity Commission for
Englond ond Woles. Ils compony and charity registered numbers ond registered office oddress ore shown on
puge l of these finoncial stotements. The principal activity of the compony In the yeor under review wos thot of
the promotion of the restorotion of the Hotherlon Bronch of the Stoffordshire ond Worcestershire Conal ond the
Wyrley ond Essinglon Conol from Ogley Junction to Huddlesford Junction including the provision of new routes
where restora.ion is improcticol.
Accounting policies
2.1 Basis of preparation of financial stotements
The finonciol statements hove been prepared in accordance wilh the Charities SORP (FRS 102) - Accounting
ond Reporting by Ctrorltles. Statement of Recommended Proctice opplicoble to chorities preporing their
occounts in occordonce with the Finonciol Reporting Stondord opplicoble in the UK ond Republic of Irelond
(FRS 102) (effective l Jonuory 2019). the Finoncial Reporting Standord opplicoble in the UK ond Republic of
Irelond (FFIS 102) ond the Componie5 Act 2006.
Lichfield ond Holhertop Conols Reslorolion Trvst Limited meet5 the definition of o public benefit entity
under FRS 102 Assets aqd liobilities ore initiolly recogrised at hiStor,'col cost or Ironsoction volue unless
otherwise stated In the relevont occounting policy.
The Consolidoled stotement of finoncial octivilies (SOFA) ond Consolidated balonce sheet consolidote the
finonciol stotements of the Compony ond Its subsidiary underloking. The results of the subsidiory ore
consolidated on o line by line basis.
The Compony hos token odvantage of the exemptior) alloweo under section 408 of the Componies Act
2006 ond has noi presenied ils own Stolement of financial octivities in these finonciol stotefflents.
The income ond expendilure occount for the year deolt with in the accounts of the choritoble compony was
on overoll nel surplus of £75.607 (2023 - net defic,.l of £208,843).
2.2 Compony Stotvs
The chority is o company limited by guaraniee. The members of the compony ore the Trustees nomed on
poge 1. In the event of the chority being wound up. the Iiobility In respect of the guarantee Is Iirnited to £1
per member of the charity.
2.3 Going Concern
After moking oppropriote enquiries. the Trustees hove o reosonoble expectotion thot the company has
adequote resources to continue in operotionol existence for the foreseeoble future For this reason, they
continLJe to adopt the going concern bosis in preporing the f inonciol slotements.
Poge 18

Lichfield and Hatherton Conols Restoration Trust Limited
(A company limited by gvorantee)
Notes to the financial stotements
For the year ended 30 November 2024
Accounting policies (Continued)
2.4 Income
All income Is recognised once the Company hos entitlement to the income, it is proboble that the income will
be received ond the omount of income receivoble con be meosured reliobly.
The recognition of income from legacies is dependent on estoblishing entitlement. the probobility of receipt
and the obility to estimole with sufficient occuracy the omounl receivoble. Evidence of entitlement lo o
legocy exists when the Company hus sufficient evidence thol o gift hos been left to them (through
knowledge of tne existence of o volid will ond the deoth of the benefactor) ond the executor 15 Sotisfied that
the property in question will not be required lo satisfy cloims In the estote. Fleceipl of o legocy must be
recognised when it is proboble thot it will be received ond the foir value of the omount receivoble. which will
generally be the expected cash omount to be distributed to the Company. can be reliably meosured.
Gronts ore Included In the Consolidated stotemenl of finonciol activities on o receivable bosis. The bolonce
of income received for specific purposes bul not expended during the period 15 shown in the relevont funds
on the Bolor)ce sheet. Where Income Is received In odvonce of entitlement of receipt. its recognition is
deferred ond included In creditors as deferred income. Where entitlement occurs before income Is received.
the Income Is occrued.
Gifts in kind donoted for distribilion ore included al voluatiog ond recognised os Income when they ore
distributed to the projects. Gifts donoted for resole ore included os income when they ore sold.
Where the donoted good Is o fixed o5set. it is meosured ot foir volve, unles5 it is improcticol to meosure this
reliably. in which cose the cost of the item to the donor should be Used. The goin is recognised os Income
from donotions ond o corresponding omourt is included in the oppropriote fixed osset closs ond
deprecioted over the useful economic life in occordance with the Company's occounting policies.
On receipt. donoled professionol services ond focilities ore recognised on the bosis of the value of the gift
lo the Compony which is the omount It would hove been willing to poy lo obtoin services or focilities of
equivolent economic benefit on the open morket.. a corresponding amount is then recognised in
expenditure in the period of receipt.
Income tox recoveroble in relolion lo Investment Income is recognised ot the time the investmerit income Is
receivable.
Other income is recognised in the period in which it is receivoble ond to the extent the good5 hove been
provided or on completion of the service.
Poge 19

Lichfield ond Hatherton Conals Restorotion Trust Limited
(A company limited by guarantee)
Notes to the financial stotements
For the year ended 30 November 2024
Accounting policies (continued)
2.5 Expenditure
Expenditure is recogiised once ihere is o legol or constructive ob igotion to Ironsfer economic benefit to o
third porty. it is probable thot o tronsfer of economic benefits will be required in settlement and the amount
of the obligotion con be meosured reliobly. Expenditure is classified by activity. The costs of eoch octivitu
ore made up of the totol of direct costs ond shored costs. including support costs involved in undertoking
each octivity Direct costs otlribuloble to o single activity ore allocoled directly to thot activity. Shared costs
which contribute to more thon one activity ond support costs which ore not ottriDUtoble to o single octivity
ore opportioned between those octivilies on o basis consistent with the use of resources. Centrol stoff costs
ore ollocoted on the bosis of time spent. ond depreciotion chorges 051ocoted on the portion of the ossel's
use.
Expenditure on roising funds includes oll expenditure incurred by the Group lo roise fvnds for its churitable
purposes and includes costs of oll fundroising activities events ond non-choritoble trading.
Expenditure on choritoble octivities is Incurred on directly undertoking the aciivilies which further the
Group's objective5. os well os onu ossocioted SLJPPOrt costs.
All expenditure is inclusive OF irrecoveroble VAT.
2.6 Interest receivable
Interest on funds held on deposit is included when receivoble and the amount con be measured reliably by
the Group. this Is normolly upon notificotion of the Interest paid or poyoble by the Institution with whom the
funds ore deposiled.
2.7 Taxotion
The Compony is considered to poss the tests sel out in Porogroph I Schedule 6 of the Finonce Act 2010 ond
therefore it meets the definition of o choriloble compony for UK corporotion tox purposes. Accordingly. the
Compony is poten:iolly exempt from toxotion in respect of Income or copital gains received within
cotegories covered by Chopter 3 Port 11 of the Corporotion Tax Aci 2010 or Section 256 of the Toxotion of
Chorgeoble Going Act 1992, to the extent thot such income or goins ore opplied exclusively to choriloble
purposes.
Poge 20

Lichfield and Hotherton Canals Restoration Trust Limited
(A compony Ilmlted by guarantee)
Notes to the financiol stotements
For the yeor ended 30 November 2024
Accounting policies (continued)
2.8 Tonglble fixed ossets and depreciation
Tangible fixed ossets costing £1.000 or more ore copitalised ond recognised when future economic benefits
are proboble ond the cost or volue of the osset con be meosured reliobly.
Tangible fixed assets ore initiolly recognised at cost. After recognition. under the cost model. tongible fixed
ossets are meosured ot cost less occumuloted depreciotion ond ony occumuloled Impairment losses. All
costs incurred to bring o tangible fixed osset into its intended working condition should be included in the
meosurement of cost.
At each reporting dale the Compony ossesses whether there is onu indicolion of impoirment. If such
indicolion exists. the recoveroble omount of the asset Is determined to be the higher of Ils foir volue less
costs lo sell ond its volue in use An impoirmenl loss is recognised where the corrying omount exceeds the
recoveroble amount.
Depreciotion is chorged so os io allocote the cost of tangible fixed ossets less their residual volue over their
estimoted Ljseful lives. using the slroighl-line method.
Depreciation Is provided on the following boses..
Freehold buildings
Plont ond mochinery
Fixtures ond fillings
50 yeors straight line
4 years stroight line
10 yeors straight line
2.9 Investments
Investments in subsidiories ore volued ot cost less provision for impoirment.
2.10 Stocks
Stocks ore volu&d ot the lower of cost ond net realisoble volue ofter making due ollowonce for obsolete ond
slow-moving stocks. Cost includes a'.1 direct costs ond on oppropriote proportion of fixed ond voriable
overheods.
2.11 Debtors
Trode ond other debtors are recognised ot the settlement omount ofter any trade discount offered.
Prepoyments ore valued al the omount prepaid net of ony trode discounts due.
2.12 Cash at bank and in hond
Cosh ot bonk ond in hand includes cosh ond 5hort-term highly liquid investrnents with o short moturity of
three months or less f rom the dote of acquisition or opening of the deposit or similor occount.
Poge 21

Lichfield ond Hatherton Canals Restorotion Trust Limited
(A compony limited by guarontee)
Notes to the flnonclal statements
For the yeor ended 30 November 2024
Accounting policies (continued)
2.13 Liabilities ond provisions
Liobililies are recognised when there is on obligation ot the Balance sheet dote os o result of a post event. Il
s proboble thot o Iran5fer of economic benefit will be required in seltlemenl, ond the amount of the
Settlement con be esiimated reliably.
Liobililles ore recognised ot the omounl tbot the Compony anticipates It will pay to settle the debt or the
omount li hos received 05 odvonced poyments for the goods or services it must provide.
Provisions ore measured ot the best estimole of the omounls required to settle the obligotion. Where the
effect of the time value of mopey is moleriol. the provision is bosed on the present volue of those amounts.
discounted ot the pre-tox discount rale thoi reflects the risks specific to the Iiobilily. The unwinding of the
discount is recognised in ihe Consolido:ed stolement of finonciol oclivilies os a finonce cost.
2.14 Financial instruments
The Group only hos finonciol ossets ond finoncial Iiobilities of o kind Ihol quolify os bosic finonciol
instrLJmentg Bosic finonciol Instruments ore Initiolly recognised ot Ironsoclion volue ond subsequently
measured al their settlement volue with the exception of bonk loons which ore subsequently measured ot
amorlised cost using the effective interest method.
2.15 Fund o¢¢ounting
Generol funds ore unreslricled funds which ore ovoilable for use ot the discretion of the Trustees in
furtheronce of the generol objectives of the Grovp ond which hove not been designoted for other purposes.
Designoted funds comprise unrestricted funds +hot hove been set oside by the Trustees for porticulor
purposes. The oim ond use of eoch designoted fund is set out in the notes to the finonciol slotements.
Restricted funds ore funds which ore to be used in accordonce with specific restrictions imposed by donors
oi" which have been raised by the Group for porticvlor purposes. The costs of raising and odministering such
funds ore chorged Ogoinst the specific fund. The aim ond use of eoch restricted fund is sel out in the notes
to the financial statements.
Ipvestment income, goins and losses are ollocoted to the oppropriote fund.
Poge 22

Lichfield ond Hotherton Canols Restoration Trust Limited
(A company limited by guorontee)
Notes to the financiol stotements
For the year ended 30 November 2024
Accounting policies (continued)
Crltical accounting estimates and oreos of jvdgement
Estimotes and judgements are conlinuolly evoluated and ore bosed on hisloricol experience ond other foclors.
including expectotions of future events that ore believed to be reosonoble under the circumstonces.
Crilicol occounling estimotes ond assumptions..
The Compony mokes estimotes ond ossumptions concerning the future. The resulting occountlng estimotes ond
ossumptions will, by definition. seldom eqvol the related octuol results. The estimotes ond ossumptions thot hove
o significont risk of cousing a moterial adjuslmenl lo the carrying omounls of ossets ond liobilities within the next
finoncial yeor ore discussed below.
Criticol oreos of judgement..
Tongible fixed ossets ore deprecioted over their useful live5 toking into account residuol volues whero
oppropriote. The Ociuol 5ives of the ossets ond residuol values ore ossessed onnuolly ond may vory depending
on o number of foclors. In re-ossessing the osser lives. foclors such as technological innovotion, product life
cycles ond mointenonce progrommes ore token into occount. Residvol volLJes consider such things as future
morkel conditions. the iemoining life of the osset and projected disposol volues.
Poge 23

Lichfield ond Hotherton Cana15 Restoration Trust Limited
(A compony limited by guarantee)
Notes to the finonciol statements
For the year ended 30 November 2024
Income from donotions and legocies
Unrestricted
Restricted
Total
funds
funds
funds
12 month
12 month
12 month
perlod ended period ended period ended
30 November 30 November 30 November
2024
2024
2024
Donations
58.844
158,301
217.145
Unrestricted
Restricted
Total
fund5
fund5
funds
11 month
11 month
11 month
period ended period ended period ended
30 November 30 November 30 November
2025
2025
2023
Donations
127.",69
462.684
589.855
Investment income
Unrestricted
Totol
funds
fvnds
12 month
12 month
period ended period ended
SO November SO November
2024
2024
Rent Receivoble
21.765
21.765
Interest Receivable
10.778
10.778
52,543
32.543
Poge 24

Lichf ield ond Hotherton Conols Restoration Trust Limited
(A company limited by gvorontee)
Notes to the finonciol statements
For the yeor ended 30 November 2024
Investment income (continued)
Unrestr1Cted
Total
funds
funds
11 month
11 morith
periocj ended period ended
30 November 30 November
2023
2023
Rent Receivable
19.910
19.910
Interest Receivable
11,228
11,228
31,138
31.138
Income from non charitable trading octivites
Unrestricted
Total
funds
funds
12 month
12 month
period ended period ended
30 November 30 November
2024
2024
Troding subsidiory income
2.618
2,618
Unrestricted
funds
11 month
Tolol
fvnds
11 month
period ended period ended
30 November 30 November
2023
2025
Troding subsidiory income
3.566
3.566
Poge 25

Llchfield and Hotherton Canols Restorotion Trust Limited
(A company limited by guarontee)
Notes to the financiol stotements
For the year ended 30 November 2024
Expenditure on raising funds
Fundraising trodlng expenses
Total
funds
12 month
period ended
30 November
2024
Profit on disposal of iongible fixed ossels
Unrestricted
Totol
funds
funds
11 month
11 month
period ended period ended
30 November 30 November
2023
2023
Profil on disposol of tongible fixed ossets
(1200)
Troding expenses
Unrestrlcted
funds
funds
12 month
12 month
period ended period ended
SO November SO November
2024
2024
Total
Troding subsidiary expenditure
760
760
Poge 26

Lichf ield and Hatherton Conols Restoration Trust Limited
(A company limited by gvarontee)
Notes to the finoncial statements
For the year ended 30 November 2024
Expenditure on roising funds (continued)
Unrestricted
Total
funds
funds
11 month
11 month
period ended period ended
30 November 30 November
2023
2025
Troding subsidiory expendilure
1.129
1.129
Investment monagement costs
Unrestricted
Total
funds
funds
12 month
12 month
period ended period ended
30 November 30 November
2024
2024
Ogley cottoge fees ond costs
10.499
10.499
Unrestricted
Totol
funds
funds
11 mor)th
11 month
period ended period ended
30 November 30 November
2023
2023
Ogley cottoge fees ond costs
7,567
7.567
Poge 27

Lichfield ond Hotherton Conols Restoration Trust Limlted
(A company limited by gvarantee)
Notes to the financial statements
For the year ended SO November 2024
Anolysis of expenditure on choritoble Ottivities
Summary by fund type
Unrestricted
Restricted
funds
funds
Total
12 month
12 month
12 month
period ended period ended period ended
30 November 30 November So November
2024
2024
2024
Lichfield conol costs
14.790
55,055
69.845
Conol Restorotion costs
27.510
27.510
Interest poyoble
Insurance
10,510
10,310
6.357
6.357
Depreciolion
29.296
29.296
Administrolion costs
3.674
3.674
Norketing octivity
Nembership & moga2ine costs
5.736
5.736
6,144
6.1H
Governonce
6.568
6,568
82.875
82.565
165.440
Poge 28

Lichfield ond Hatherton Conols Restoration Trust Limited
(A company limited by guorantee)
Notes to the financiol statements
For the year ended 30 November 2024
Analysis of expenditure on charitable ortivities (continued)
Summory by fvnd type (continued)
Unrestricted
Restricted
funds
funds
Totol
11 month
11 month
11 month
period ended period ended period ended
30 November 30 November So November
2023
2023
2023
Lichfield conal costs
318.677
403.000
721,677
Conal restorotion exper)ses
Interest poyable
21.631
12.061
33,692
14.473
14.473
Insurance
5.135
5,135
Depreciotion
19,725
19.725
Administrotion costs
2,048
2.048
Morketing costs
Membership & mogozine costs
Governonce
7.093
7,093
5.648
5.648
16.413
16,413
410.843
415,061
825.904
Poge 29

Lichfield ond Hotherton Canals Restoration Trust Limited
(A company limited by guorontee)
Notes to the finonciol stotements
For the yeor ended 30 November 2024
10.
Analysis of expenditure by activities
Activities
vndertaken
Support
Total
directly
costs
fvnds
12 month
12 month
12 month
period ended period ended period ended
30 November 30 November 30 November
2024
2024
2024
Lichfield canol costs
69.845
69,845
Conol Restorotion costs
27.510
27.510
Interest poyoble
10,310
10.310
Insuronce
6,357
6.357
Depreciotion
29.296
29,296
Administrotion costs
3.674
3.674
Norketing activity
Membership & mogozine costs
Governonce
5.736
5,736
6.144
6.144
6.568
6.568
97,355
68.085
165.440
Page 30

Lichfield and Hatherton Canols Restoration Trust Limited
(A compony limited by gvorontee)
Notes to the financial stotements
For the year ended 30 November 2024
10.
Analysis of expenditure by activities (continued)
Activities
undertaken
Totol
directly Support costs
funds
11 month
11 month
11 month
perioci ended period ended period ended
30 November 30 November 50 November
2023
2023
2023
Lichfield conal costs
721.677
721,677
Canal restorolion expenses
33,692
33.692
Interest poyoble
14.473
14.473
Insuronce
5.135
5.135
Depreciotion
Administration costs
19.725
19.725
2,048
2,048
Morketing costs
7.093
7.093
r4embership & mogozine cost5
Governonce
5,648
5,648
16.413
16.413
755.369
70.535
825.904
11.
Independent exomlner's remuneration
The independent exDminer's remunerotion amounts to on independent exominer fee of £1.100 (2023 £1.000).
12.
Trvstees, remuneration and expenses
During the yeor. no Trustees received ony remunerolion or other benelils (2025 - £NIL).
During the year ended 30 November 2024, no Trv5tee expenses hove been incurred (2023- £NIL).
Poge 31

Lichfield ond Hatherton Conals Restoration Trust Limited
(A company limited by gvarontee)
Notes to the finonciol stotements
For the year ended 30 November 2024
13.
Tongible fixed assets
Group and Company
Freehold
property
Plont ond Flxtvres and
mochinery
fittings
Total
Cost
At 1 December 2023
734.186
116.704
10.090
860.980
Additions
21.547
21.547
At 30 November 2024
734,186
138.251
10.090
882,527
Depreciotion
At 1 December 2023
156.513
69.312
10.090
215.915
Chorge for the yeur
11.370
17.926
29.296
At 30 November 2024
147.883
87,258
10.090
245,211
Net book volue
At 30 November 2024
586.303
51.015
637.316
At 30 November 2023
597.673
47.392
645.065
Poge 32

Lichfield and Hatherton Conals Restorotion Trust Limited
(A company limited by guarantee)
Notes to the finonciol statements
For the Year ended 30 November 2024
14.
Fixed asset investments
Shares in
group
undertaking
Company
Cost or voluatlon
At l December 2023
1.000
AI 30 November 2024
1.000
Net book value
AI 30 November 2024
1.000
At 30 November 2023
1.000
The porent compony holds the whole of the equity shore capilal of the Lichfield & Holherton Conals Reloil
Troding Ltd. a compony Incorporoled In the United Kingdom and registered Englornd ond Wales. Its principol
octivily is to carry out The Iroding oclivities of the chority.
15.
Stocks
Group
2024
Group
2023
Finished goods ond goods for resole
1,568
1.664
Poge 53

Lichfield ond Hatherton Conals Restorotion Trust Limited
(A compony limited by guorontee)
Notes to the finonciol stotements
For the year ended 30 November 2024
16.
Debtors
Group
2024
Grovp
2023
Compony
2024
Compony
2023
Dve within one year
Trade debtors
30,000
30.000
Amounls owed by g.oup undertokings
Other debtors
1,612
2,442
11.323
3.106
11.523
5.106
11.323
33.106
12.935
35,548
The omounts due f rom subsidiory bnder:okings represents the gift old poyment together with normol
commerciol rechorges.
17.
Creditors: Amounts fulling due within one year
Group
2024
Group
2023
Company
2024
Company
2023
Bonk loons
2.275
2.827
2.275
2.827
Other creditors
2.212
1,000
2,212
1.000
Accruols ond deferred income
34,626
34.374
34.380
34.379
39.113
38.201
38.867
38,206
Grovp
2024
Group
2023
Company
2024
Compony
2023
Deferred income ot l December 2023
34.380
34.580
34,380
34.380
Pa9e 34

Lichfield and Hatherton Conols Restorotion Trust Limited
(A componu limited by gvorontee)
Notes to the finonciol statements
For the year ended 30 November 2024
18.
Creditors: Amounts falling due ofter more than one yeor
Group
2024
Group
2023
Company
2024
Company
2023
Bonk loons
98.719
145.543
98.719
145,543
The bonk loon Is secured by woy of legol chorges over the freehold properly doled 19 September 2006 ond 21
September 2018.
Poge 35

Lichfleld ond Hotherton Conals Restorotion Trust Limited
(A company limited by gvorontee)
Notes to the financiol stotements
For the year ended 30 November 2024
19.
Statement of funds
Statement of funds- current yeor
Bolonce ot 1
December
2023
Bolance ot
Transfers 30 November
in/(out)
2024
Income
Expenditure
Unrestricted funds
Designated funds
Club 500 Copitol Fund
Lond ond Property Fund
Restoration ond Site budge:
Tunnel Vision Fund
1.590
1.608
{1,590)
1,608
20.000
(10,000)
{2.454)
10.000
2.454
63.000
63.000
Restorotion & Plant Fund
15.000
15,000
Canal professional costs
1.135
1,135
103.179
1.608
(1,590)
(12.454)
90.743
General funds
Generol Funds
464.983
92.397
(92.544)
464.836
Total Unrestricted funds
568.162
94.005
(94.134)
(12.454)
555.579
Poge 36

Lichf ield ond Hotherton Canols Restoration Trust Limited
(A compony limited by guorantee)
Notes to the finonciol stotements
For the year ended 30 November 2024
19.
Stotement of funds (continued)
Balonce ot 1
December
2023
Balonce at
Transfers 30 November
in/(out)
2024
Income
Expenditure
Restrlcted funds
Land and Property Fund
Restoration ond Plont Fund
20,564
05.413)
17.588
(40.499)
(13.492)
46,207
10.859
37,506
2,454
.056
Tunnel Vision Fund
17,153
6.335
25,488
Funds Oeposit
337
337
SIB "Summerhill" Gront
34.380
34,380
Speciol Purposes Fund
Lichfield Canol Special Funding
Lord Lock 30 restoration
40.850
123.028
07,844)
(7.736)
158.298
31.792
31.792
10.000
10.000
Bleors Legocy Shored Advonce
BIG Give - Excovotor Fund
(58.4n)
(38.471)
26.763
(10.730)
16,033
182.582
158.301
(82.565)
12,454
270.772
Total of funds
750.744
252.306
(176,699)
826.351
Poge 37

Lichfield ond Hatherton Conals Aestorotion Trust Limited
(A compony limited by guarantee)
Notes to the finonciol statements
For the year ended 30 November 2024
19.
Statement of funds (continued)
Statement of funds- prior year
Balonce ot
Bolonce at
Transfer5 30 November
in/(out)
2023
l January
2023
Income
Expenditure
Unrestricted funds
Deslgnoted funds
Club 500 Copilol Fund
Lond ond Properly Fund
RestDrotion ond Sile budget
Tunnel Vision Fund
1.722
1.469
(1.601)
1,590
1,322
18.678
20.000
1,454
1,000
2,454
65.000
65000
Restorotion & Plont Fund
15.000
15.000
Severn Trent Woter Fund
(1400)
Conol professionol costs
1.155
85,033
1.469
16,677
103.179
General fvnds
Generol Funds
511971
160.404
(418.339)
210.947
464,983
Total Unrestricted fvnds
597.004
161,8ll
(418.339)
227.624
568.162
Poge 38

Lichfield and Hatherton Cona15 Restoration Trust Limited
(A company limited by guarantee)
Notes to the financial statements
For the year ended 30 November 2024
19.
Stotement of funds (continued)
Balonce ot
1 January
2023
Bolance al
Tronsfers 30 November
in/(out)
2023
Income
Expenditure
Restrlcted funds
Land and Prooerty Fund
Re5torotion ond Plont Fund
22.131
4.373
(5.940)
20.564
37.319
4.105
(5,918)
37.506
Tunnel Vision Fund
258,364
8.789
(250,000)
17.153
Funds Deposit
337
357
SIB "Svmmerhill" Gront
34.380
34.380
Piling Appeol Fund
8.495
403.000
(403.000)
32.355
40.850
Lichfield Conol Speciol Funding
1.557
42,417
(12.061)
(121)
31.792
562,583
462,684
(415,061)
(227,624)
182.582
Total of funds
959.587
624.557
(833.400)
750.744
Poge 39

Lichfield and Hotherton Cano15 Restoration Trust Limited
(A company limited by guarantee)
Notes to the financlol statements
For the year ended 30 November 2024
19.
Stotement of fvnds (continued)
Summory of Designated Funds
Club 500
50¥¢ of subscriptions to the Trust's "500 Club" are distributed lo its members through o qLJOrterly drow, the
remaining 500/0 being retoined for copitol expend11ure on reslorotion work.
Lond ond Property Fund
See details under restricted funds.
Restoration and Site budget
See details under restricted funds.
Tunnel Vision Fund
See details under restricted funds.
Restoratlon & Plont fund
The fund holds money donoted for general restorotion works ond use of operoting ploni lor those woi"ks. It is
not expected to accumulole ony lorge reserves except lempororily ofier receipt of ony lorge gifts or legocies or
in preporotion for finoncing o specific project.
Severn Trent Water Fund
Funding received towords fish replocement ot Tomworth Rood.
Summory of Restricted Funds
Lond ond Property Fund
This fund is money held for the PLtrrchase. lease or licence of lond or property for the conol ond associated
expenses. It is intended to build up a long term resource to meet future opportunities os they orise.
Restorotion ond Site budget
The fund holds money ollocoted for general resiorotion works ond vse of operating plonl for those works.
Poge 40

Lichfield ond Hotherton Canals Restoration Trust Limited
(A Compony limited by guarantee)
Notes to the financial stotements
For the yeor ended 30 November 2024
19.
Statement of funds (continued)
Tunnel Vision Fvnd
A new objective storled in 2014 os the "Dovid Suchet Tunnel Vision Appeal" lowords the cost of instolling conol
tunnels under mojor roil ond rood crossir)gs which was sirongly promoted with o high lo.'get through 2017 to
2021, but deferred pending securing high level funding lo meet the cost of construction. As o long-term project.
Il become prudent lo utilise port of rhe fund lowords completing the Darnford Moors Ecology Pork project
pendin9 receipt of known legocy funds in the short term as stoted in the Finonce Report on poge 4.
Funds deposit
Accumuloted fund to provide o deposit in support of ony porticulor gront opplicotion.
SIB "Svmmerhill" Grant
Sociol Investment Business Group gronl of £336,000 accepted 29th December 2014 for Lichfield Conol
Summei"hill' project ogoinst poymer)ts ond Invoices for plonrned development. The tron5fer out of this fund
reloles to costs which had been Incurred on the project before the creotion of the fund.
Conal professionol costs
Cannock Chose Council's cobinet oworded £10.000 to the chority to ollow il to commission o woter supply study
of the supply to the restored Hoiherton conal.
Piling Appeal Fund
A new public oppeoi In 2020 enobling donors lo hove o personal tag ottoched to the steel pil",ng ol the highly
visible section beside Folklond Rood ond Tomworth Rood io ocknowledge their contribution.
20.
Summory of funds
Summary of funds- current year
Balance ot 1
December
2023
8olance at
Tronsfers 30 November
In/out
2024
Income
Expenditure
Oesignated funds
105,179
1,608
(1.590)
(12,454)
90.743
General funds
464.983
92.397
(92.544)
464,836
Restricted funds
182.582
158.301
(82,565)
12.454
270.772
750.744
252.306
(176,699)
826.351
Poge 41

Lichfield and Hotherton Conols Restoration Trvst Limited
(A company Ilmlted by guorantee)
Notes to the finonciol stotements
For the yeor ended 30 November 2024
20.
Summory of funds (continued)
Summary of funds- prior year
Bolance at
1 Jonuory
2023
Bolonce at
Tronsfers 30 November
in/out
2023
Income
Expenditure
Designated funds
Generol funds
85.033
1.469
16.677
103.179
511.971
160.404
<418.339)
(415.061)
210.947
464.983
Restricted fund5
362.583
462.684
(227.624)
182.582
959.587
624.557
(833.400)
750,744
21.
Anolysis of net ossets between funds
Anolusis of net assets between funds - current period
Unrestricted
funds
Restricted
funds
2024
Total
funds
2024
2024
Tongible fixed ossets
Cufrent ogsets
637.316
637,316
21,715
305.152
326.867
Creditors due within one yeor
(4,733)
(98,719)
(34.380)
(39.113)
(98.719)
Creditors due in more thon one year
Total
555.579
270,772
826,351
Page 42

Lichf ield and Hatherton Canals Restoration Trust Llmlted
(A company limited by guarantee)
Notes to the finoncial statements
For the year ended 30 November 2024
21.
Analysi5 of net assets between funds (continued)
Anolysls of net assets between funds- prior year
Unrestricted
funds
2023
Restricted
funds
2023
Totol
funds
2023
Tangible f Ixed ossets
Current assets
645.065
645.065
72,541
217.082
289.423
Creditors due within one yeor
Creditors due in more thon one yeor
Other unollocoted
(5,822)
(34.379)
(38.201)
(145.543)
(145.545)
121
(121)
Total
568.162
182.582
750,744
22.
Principal subsidiaries
The following wos a subsidiory undertaking of the Compony..
Nome
Company
number
Class of
shores
Holding
Lichfield & Hotherton Conols Retail Trading Ltd
03686837
Ordinory
The finonciol results of the subsidiory for the yeor were..
Name
Income
Expenditure
Net assets at
30 November
2024
Lichf ield & Hatherton Conols Retoil Trading Ltd
2.618
(608)
1,000
Poge 43