## Wendover Arm Trust
**President:**
**Patrons:**
**Dr. David Fletcher CBE Sir David Suchet CBE, Robbie Cumming**
## **ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31 MARCH 2025**
**PRESENTED TO WENDOVER ARM TRUST ANNUAL GENERAL MEETING 4th OCTOBER 2025**
## **Contents**
Company information 2 Bye laws 3 Report of the directors 4 – 6 Independent examiner’s report 7 Statement of financial activities 8 Balance sheet 9 - 10 Notes to the financial statements 11 – 16
WENDOVER ARM TRUST A Company Limited by Guarantee Registered in England No. 2353392 Registered Charity No.801190
Registered Office: 16b First Floor, Chiltern Court, Asheridge Road Industrial Estate, Chesham, HP5 2PX
Website: www.wendovercanal.org.uk
1
## **THE WENDOVER ARM TRUST (Operating as Wendover Canal Trust)**
## **COMPANY INFORMATION** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Reference and Administrative Information**
Charity Name: Charity Registration Number: Company Registration Number: Registered Office:
The Wendover Arm Trust
801190
2353392 (England and Wales)
The Inland Waterways Association Unit 16B Chiltern Court Asheridge Road Industrial Estate Asheridge Road Chesham Bucks HP5 2PX
## **Directors and Charity Trustees**
Mr C L Johnson Mr M J Beckley Mr P J A Elwin Mr P Armstrong Mr R L Wheal Mr P C Bird Mr J S Chapman Mr P L Lockett Mr N C Williams Mr K D Palfrey Mr M J Bradley Mr C J Sargeant Mr C A Metcalfe
Chairman Honorary Secretary, Deputy Chairman Partnerships Director, Deputy Chairman Treasurer Director Director, Membership Secretary Director Director , Purchasing Director Director Director (Resigned in October 2024) Director Director (Appointed in December 2024)
**IWA nominated representative** Mrs J Brice
## **Independent Examiner**
Johnsons Chartered Accountants Morton House 9 Beacon Court Pitstone Business Park Pitstone LU7 9GY
## **Bankers**
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Virgin Money 7 Gold Street Northampton NN1 1EN
2
## **THE WENDOVER ARM TRUST**
## **BYE LAWS**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
In accordance with Article 64, notice is hereby given that the classes of membership and membership subscription rates were altered with effect from 1[st] April 2022 and the current position is set out below: -
The Trust’s revised bye-laws are as follows:
## **1. Classes of Membership** .
There shall be four classes of membership as follows:
## a. Individual membership.
- b. Family membership (to include two adult members resident at the same address)
Family members shall only receive a single copy of any notice, or other communication, from the Trust
- c. Honorary Membership. (To be awarded by Council at its discretion)
- d. Corporate members.
Corporate Members shall receive four copies of the Trust Newsletter and one copy of any other communication from the trust.
## **2. Membership Subscriptions** .
Individual: £15 per annum, or £14 by direct debit. Family: £22.50 per annum, or £21 by direct debit. Honorary: None. Corporate: £37.50 per annum Block Membership: 5 years for the price of 4 years Life membership: Single £225. Joint £375
As at September 2025 the Trust had 374 individual and family members, 14 Corporate members and 14 Honorary members
## **3. Voting Rights at General Meetings.**
Individual One vote. Family Two votes (adults only). Honorary None. Corporate One vote. Proxy votes are allowed, contact Chaiman or Hon Secretary
3
## **THE WENDOVER ARM TRUST**
## **REPORT OF THE DIRECTORS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
The Council present their annual report and financial statements for the year ended 31 March 2025
## **Structure, Governance and Management**
## Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 28[th] February 1989 and registered as a charity on 20[th] March1989. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount per member not exceeding £1.
## Recruitment and Appointment of Directors
The Directors of the company are also charity trustees for the purpose of charity law.
Under the requirements of the Memorandum and Articles of Association (articles 36 and 37), one third of the Directors for the time being shall retire from office each year and shall be eligible for re-election at the next Annual General Meeting. The Directors to retire shall be those who have been longest in office since their last election. The Directors are regularly informed of training and development opportunities which arise that could be of benefit to the Trust. The Inland Waterways Association is the Trust’s only nominating body and Mrs Jenny Brice has been nominated.
The following Directors retire by rotation and offers themselves for re-election.
Colin Metcalfe
Kenneth Palfrey
Christopher Sargeant
Robert Wheal
## **Objectives and Activities**
The Trust’s objectives and principal activities are:
To promote the restoration to good navigable order of the Wendover Arm of the Grand Union Canal linking the town of Wendover in Buckinghamshire to the Grand Union Canal at Bulbourne in Hertfordshire (hereinafter called ‘The Waterway’ which shall include all associated buildings, works and structures) and to maintain and improve The Waterway for the use and benefit of the public.
To promote the fullest use of The Waterway by all forms of waterborne traffic and for all forms of local amenity, tourist and recreational and water-related activities for the benefit of the public.
To promote and educate the public in the history, use, and associated wildlife of canals and inland waterways generally and of ‘The Waterway’ in particular.
To restore, reconstruct, preserve and maintain canals and inland waterways and works and buildings auxiliary thereto generally provided that such objects shall be carried out in a manner beneficial to the public and recognised by the law of England as charitable. The Trust co-operates with the Inland Waterways Association and the Canal and River Trust in pursuit of its charitable objects. The main objective and activity for the year continued to be the promotion and the restoration of The Wendover Arm.
4
## **THE WENDOVER ARM TRUST**
## **REPORT OF THE DIRECTORS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Policies**
The principal policies of the Trust together with information about its governance are set out in the website at Governance Policies and Annual Reports - Wendover Canal Trust
## **Public Benefit Statement**
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the Trustees consider how planned activities will contribute to the aims and objectives they have set.
No untoward incidents have occurred during the reporting period that required notification to the Charity Commission, Companies House, the Health and Safety Executive or any other competent body.
## **Review of Activities**
The principal activity of the Trust is the promotion of restoration, and actual restoration, of the Wendover Canal.
Just as we said last year, since our work was suspended by Canal & River Trust in May 2023, we have been in constant email and other discussions with CRT about the way forward. These have been through a number of phases, but every month we believed that progress was being made. Around the time of the last AGM, we escalated our issues within CRT, and also reported a fresh start being made with CRT; however there followed many more months of frustration and very little progress. Eventually this summer, a way forward was agreed, so this is outside the 2024/5 year being formally reported. This means that over two years have passed with no canal restoration at all.
CRT eventually made an agreement with the Environment Agency this spring / summer that in order to move forward, only a small amount of material needed to be removed from the worksite as waste. This has to be formally defined as part of a ‘Remediation Strategy’, which was signed off by CRT in August 2025.
The other part of our re-start depended on a legal agreement between CRT and WCT. I am pleased to report that this document has just been signed, in September 2025, although this took over a year from when CRT first suggested it. At our AGM on 4[th] October we will provide the latest news as we inch evercloser to a re-start.”
Clive Johnson, WCT Chairman, 10[th] September 2025.
## **Financial Review**
The accounts for the year to 31st March 2025 show total income for the Trust of £54,657, 50% up on the previous year, and expenditure of just £18,570. Therefore there is a surplus of £36,000 for the year, and the updated cash position from Paul Armstrong shows available funding of £439,430 as at 31 March. Consolidated income, including the subsidiary company Wendover Canal Restoration Ltd, was £69,500 and group surplus £47,400.
5
However there were one time receipts during 24/25 of £14,837 for grants (via WCRL) and £7,700 in a
legacy, plus fundraising event income of £5,000, so forecast income for 2025/6 is likely to be
considerably reduced at £42,000.
Total charitable funds as shown on the balance sheet increased by 8% to £475,000.
As expected, there has been very little expenditure since 31st March. A provisional allowance has
been made for restoration costs of £60,000 in the current year, giving a total expenditure of £80,000,
and a net expenditure of £40,000 for the Trust at the end of the year. Therefore the forecast level of
cash and funds is likely to remain at about £400,000 in March 2026.
It is now clear that there are sufficient funds available to take the Trust through the following year to
31st March 2027, but the total cost of canal restoration over the next three years will be in the region
of £800k, and the project therefore cannot be completed without seeking further funds. Therefore it
will be necessary to start discussions with CRT and others concerning funding beyond 2027 later this
year.
Principal Funding Sources
The principal funding sources for the Trust continue to be membership subscriptions, donations (including
gift aid), legacies and the Trusts' own fund-raising activities. In addition, grants are received from local
authorities and other sources as noted above, and it is anticipated that a further bid for funding from the
National Lottery Heritage Fund will be made before the end of the year to 31st March 2027.
Reserves Policy
The Directors have examined the Trust's requirements for reserves in light of the main risks to the
organisation. It has established a policy whereby the undesignated and unrestricted funds not committed
or invested in tangible fixed assets held by the Trust should be kept to a minimum of £30,000. The
reserves are needed to meet the day-to-day activities plus any unexpected expense and the Directors
are confident that they would be able to continue with current activities of the Trust for at least the next
two years.
Mike Beckley / Paul Armstrong
This report has been prepared in accordance with the special provisions of Part 15 of the Companies
Act 2006 relating to small companies.
Honorary Secretary
6
## _**INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE WENDOVER ARM TRUST**_
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025 which are set out on pages 8 to 16.
## **Responsibilities 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 examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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.
Edmund Cartwright FCCA MAAT
Johnsons Chartered Accountants Morton House 9 Beacon Court Pitstone Business Park Pitstone LU7 9GY
7
## **THE WENDOVER ARM TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES** (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Notes**
**Income from**
Donations and Legacies
**2**
Grants
**2**
Charitable Activities
Other trading activities
**3**
Investments
Total Income
**Expenditure on**
Raising funds (incl management)
**4**
Charitable activities (restoration)
**4,5**
**Total Expenditure**
**4**
**Net Income (Expenditure)**
Transfers between funds
**Net movement of funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**General**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2025**
**2025**
**2025**
**2024**
**£**
**£**
**£**
**£**
30,702
-
30,702
18,818
-
-
-
-
-
-
-
-
9,807
-
9,807
5,608
14,148
-
14,148
11,268
54,657
-
54,657
35,694
17,418
-
17,418
14,018
1,152
-
1,152
4,820
18,570
-
18,570
18,837
36,087
-
36,087
16,857
-
-
-
-
36,087
-
36,087
16,857
439,250
**-**
439,250
422,393|
|---|---|
||**475,337**
**-**
**475,337**
**439,250**|
8
## **THE WENDOVER ARM TRUST**
(COMPANY No 02353392,m CHARITY No 801190)
## **BALANCE SHEET**
## _**AS AT THE YEAR ENDED 31 MARCH 2025**_
|**Notes**
**2025**
**£**
**Fixed Assets**
Tangible assets
**6**
Investment in subsidiary
**Current Assets**
Stock
200
Debtors
**7**
26,691
Cash at bank
423,707
Cash in hand
66
450,664
**Liabilities**
Creditors, amounts falling due within one year
**8**
**(1,025)**
**Net Current Assets**
**Net Assets**
The funds of the charity
Unrestricted funds - General
**10**
- Designated
**10**
Total unrestricted funds
Restricted funds
**10**
**Total charity funds**|**2025**
**£**
698
25,000|**2024**
**£**
200
75,320
364,464
66|**2024**
**£**
2,242
1
2,243
437,007|
|---|---|---|---|
||25,698
449,639
|||
|||440,051
**(3,044)**||
||**475,337**||**439,250**|
||475,337
-||439,250
-|
||**475,337**||**439,250**|
||-||-|
||**475,337**||**439,250**|
9
THE WENDOVER ARM TRUST
(COMPANY No 02353392, CHARITY No 801190)
BALANCE SHEET (continued)
AS AT THE YEAR ENDED 31 MARCH 2025
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006
for the year ended 31st March 2025.
The members have not required the charitable company to obtain an audit of its financial statements for
the year ended 31st March 2025 in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and
387 of the Companies Act 2006, and
(b) preparing the financial statements which give a true and fair view of the state of affairs of the charitable
company as at the end of each financial year and of its surplus or deficit for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the
charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of
the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Council of Management on
and signed on
its behalf by:
Chine L. Johnson
C L Johnson (Chairman)
M J Beckley (Secretary)
The notes on the following pages form part of these accounts
10
## **THE WENDOVER ARM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **NOTE 1 ACCOUNTING POLICIES**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
## **(a) Basis of accounting**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees have considered the 12-month period from the date of approval of the financial statements and are comfortable of future funds and cash flows. For this reason, the going concern principle has continued to be applied.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
## **(b) Fund accounting**
i) Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
ii) Designated funds are unrestricted funds earmarked by the trustees for particular purposes. iii) Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## **(c) Income**
Income is recognised in the statement of financial activities when the charity is entitled to the income, and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
i) Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
ii) Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. iii) Investment income is included when receivable.
iv) Incoming resources from charitable trading activity are accounted for when earned.
## **(d) Expenditure**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
i) Costs of raising funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
ii) Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
iii) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiners fees and linked to the strategic management of the charity.
iv) All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned on an estimated usage basis as set out in note 4.
## **(e) Fixed assets**
Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the costs of each asset over its expected useful life, which is for all items is 5 years.
11
## **THE WENDOVER ARM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **NOTE 1 ACCOUNTING POLICIES (CONTINUED)**
## **(f) Stocks**
Stock is valued at the lower of cost and net realisable value.
## **(g) Donations in kind**
Donations in kind’ with a value of under £1,000 per transaction are not considered for accounting purposes.
## **NOTE 2 DONATIONS AND LEGACIES**
||**General**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**2025**|**2025**|**2025**|**2024**|
||**£**|**£**|**£**|**£**|
|Donations and Legacies|19,551|-|19,551
|9,674
|
|Subscriptions|7,055|-|7,055|5,399|
|Easyfundraising|250|-|250|168|
|Gift Aid|3,846|-|3,846|3,577|
||**30,702**|**-**|**30,702**|**18,818**|
**Note:** Member subscriptions re-allocated to this section as required by Charities Statement of Recommended Practice (FRS102)
## **NOTE 2A - GRANTS**
## **NOTE 3 OTHER TRADING ACTIVITY**
||**General**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**2025**|**2025**|**2025**|**2024**|
||**£**|**£**|**£**|**£**|
|Donations and raffles - Club 100|2,615|-|2,615|3,000|
||**2,615**|**-**|**2,615**|**3,000**|
|Sale of goods plaques and benches|1,249|-|1,249|493|
|Fundraising Events|5,078|-|5,078|1,176|
|Newsletter advertising|865|-|865|940|
|Block Aid|-|-|-|-|
||**9,807**|**-**|**9,807**|**5,609**|
12
## **THE WENDOVER ARM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **NOTE 4 TOTAL RESOURCES EXPENDED**
|**Basis of**
**allocation**
Restoration work (note 5)
direct
Donations to CRT
direct
Maintenance and enhancementdirect
Raising Fund
Club 100 prizes and costs
direct
Sale of goods (less SVA)*
direct
Bridge plaques
direct
Bench seats
direct
Fundraising including events
direct
Newsletter
direct
*stock value adjustment
**Costs apportioned to activities**
Publicity
usage
Website
usage
Insurance
usage
Membership
usage
Bank and transaction fees
usage
Indepentent examiner fees
usage
Council general expenses
usage
Net Depreciation
usage
Partnership Expense
usage
**Costs directly allocared to activities**|**Costs of**
**income**
**Fundraising**
**costs**
**Restoration**
**works**
**Council**
**costs inc**
**governance**
**Total**
**2025**
**Total**
**2024**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
1,152
-
1,152
4,820
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|
||-
-
1,152
-
1,152
4,820
-
-
-
-
-
-
1,224
-
-
1,224
1,353
-
-
-
-
-
-
-
-
-
-
-
108
-
460
-
-
460
-
-
2,869
-
-
2,869
694
-
2,197
-
-
2,197
1,024
879
-
-
-
879
1,962
516
-
-
-
516
2,231
2,277
-
-
-
2,277
2,244
2,089
-
-
-
2,089
-
-
-
-
257
257
267
-
-
-
2,640
2,640
2,760
-
-
-
467
467
(912)
-
-
-
1,543
1,543
1,543
-
-
-
-
744|
||5,761
6,750
1,152
4,907
**18,570**
**18,838**|
## **NOTE 5 WENDOVER ARM RESTORATION RESOURCES EXPENDED**
|Materials
Consumables
Administration & Misc|**2025**
**2024**
**£**
**£**
-
880
435
2,641
717
1,298|
|---|---|
||**1,152**
**4,820**|
13
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **THE WENDOVER ARM TRUST**
## **NOTE 6 TANGIBLE FIXED ASSETS**
## **NOTE 7 DEBTORS**
|**NOTE 7 DEBTORS**|||
|---|---|---|
||**Total**|**Total**|
||**2025**|**2024**|
||**£**|**£**|
|Loan to Subsidiary|21,300|71,299|
|Accrued income|2,081|1,893|
|Accounts receivable|3,310|2,129|
||**26,691**|**75,321**|
## **NOTE 8 CREDITORS FALLING DUE WITHIN ONE YEAR**
14
## **THE WENDOVER ARM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **NOTE 9 ANALYSIS OF NET ASSETS BETWEEN FUNDS**
||**General**|**Designated **|**Restricted**|**Total**|
|---|---|---|---|---|
||**funds**|**funds**|**funds**|**funds**|
||**£**|**£**|**£**|**£**|
|Tangible Fixed Assets|25,698|-|-|25,698|
|Current Assets|450,664|-
|-|450,664|
|Current liabilities|(1,025)|-|-|(1,025)|
|Net Assets at of March 2025|**475,337**|**-**|**-**|**475,337**|
## **NOTE 10 MOVEMENT IN FUNDS**
|**Restricted Funds**
**Unrestricted funds**
Designated
General
**Total unrestricted funds**
**Total all funds**
**Comparatives for movement in funds**
**Restricted Funds**
**Unrestricted funds**
Designated
General
**Total unrestricted funds**
**Total all funds**|**As at**
**Incoming**
**Outgoing**
**Transfers**
**As at**
**01.04.2024 resources**
**resources**
**31.03.2025**
-
-
-
-
-
-
-
-
-
-
439,250
54,657
(18,570)
-
475,337|
|---|---|
||439,250
54,657
(18,570)
-
475,337|
|||
||**439,250**
**54,657**
**(18,570)**
**-**
**475,337**|
||**As at**
**Incoming**
**Outgoing**
**Transfers**
**As at**
**01.04.2023 resources**
**resources**
**31.03.2024**
-
-
-
-
-|
||-
-
-
-
422,393
35,694
(18,837)
-
439,250|
||422,393
35,694
(18,837)
-
439,250|
|||
||**422,393**
**35,694**
**(18,837)**
**-**
**439,250**|
15
**THE WENDOVER ARM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **NOTE 11 SHARE CAPITAL**
The company has no share capital, and the liability of each member is limited to £1 by guarantee.
## **NOTE 12 RELATED PARTY TRANSACTIONS**
During the year the trust invested in subsidiary (Wendover Canal restoration limited).
The transactions during the year between the two consist of the following:
- The Trust has an investment in its subsidiary of £25,000 (2024: 1).
- The balance of the interest-free loan due from the subsidiary as at the year end is £21,300 (2024: £71,299). The loan, originally provided to support initial capital requirements, is unsecured and repayable on demand.
## **NOTE 13 DIRECTORS AND EMPLOYEES**
- No remuneration was paid to any member of the committee of management.
- The Trust has no employees.
- The trust has not met, nor have any trustees claimed, travelling expenses (other than for rail, and other expenses incurred whilst on the charity’s business).
- - Claims have been met for goods and services bought on behalf of the Trust.
16