Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
CHARITY NO: SC005463
FORTH AND CLYDE CANAL SOCIETY
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
| PAGE | |
|---|---|
| Reference and Administrative information | 1 |
| Report of the Trustees | 2 – 6 |
| Independent Examiner’s Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 – 17 |
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 REFERENCE AND ADMINISTRATIVE INFORMATION
Charity Name: Forth and Clyde Canal Society
Registered Office and Operational Address:
Boat Users’ Block Unit 4 Southbank Marina Strathkelvin Place Kirkintilloch Glasgow G66 1XT
Charity Registration Number: SC005463
Trustees:
Secretary:
Independent Examiners:
Wbg Services LLP 168 Bath Street Glasgow G2 4TP
Bankers:
Virgin Money 4 Strathkelvin Place Kirkintilloch Glasgow G66 1XT
1
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Trustees present their annual report and financial statements of the charity for the year ended 30 September 2024. The legal and administrative information on page one forms part of this report. The charity SC005463 converted to a SCIO on 13th February 2024, all assets and liabilities transferred to the SCIO.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and 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.
Objectives and Activities
It is our objective to continue to promote the history, heritage and navigation of the Forth and Clyde Canal, ensuring its maintenance and use for generations to come. It is widely recognised that there are great benefits to health and mental wellbeing when individuals have access to fresh air and enjoyment of the natural environment, which the canal provides. The interaction with nature helps to reduce stress levels and improves moods as well as being a great relaxation tool.
We were able to put into action the plans for 2024 which included a massive recruitment drive at the start of the year. We also held fish & chip and pizza & pasta cruises for the public. The purpose of these trips was to highlight the wonders of the canal, promote charter opportunities and further recruit new volunteers to help with heritage, campaigning, maintenance, and crewing.
At the start of the year, we realised that our active volunteer numbers had dropped so through our website, social media, and our Canal News magazine we began a vigorous recruitment campaign for new members to join The Society. Our efforts generated a small group of around 10 volunteers who are a welcome addition.
As a Society, we are committed to being involved in diverse areas of the community through education and recreational activities ensuring, where possible, all age groups have the opportunity to learn about the canal. This year, FCCS celebrated Pride Month for the first time, and have had several members of the LGBT+ community join as a result.
We are also delighted to announce that we have recently started a Friends of Forth & Clyde Social Group on a Friday at the Society’s office at Southbank Marina. This is a Group that is open to the public and members of the Society and we offer a free cuppa and some friendly chat to those that attend. This Group has been created to combat loneliness and increase awareness of the FCCS.
Achievements and Performance
This year our slipway has continued to generate regular income as many boaters on the Forth and Clyde Canal needed to do necessary repairs on their vessels; we did have a few cancelations due to low water levels on the network which was out with our control. Our volunteers managed a regular flow of boats up and down the slipway throughout the year which generated welcome revenue.
2
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
Achievements and Performance (continued)
Our boats are being booked throughout the year again. This includes various clubs, schools, church groups, families and individuals who just want to cruise the canal as a different way of enjoying the countryside and celebrating life events.
There would appear to be a continued interest in the chartering of our vessels, ensuring regular income to maintain them.
As a result of the break-in during 2022 we are still gathering back the equipment needed to help maintain our boats and operations.
We continue to communicate with the public via our website and Facebook page, which is updated on a regular basis and has a large following. We launched a social media account on TikTok & Instagram along with a relaunch of our Facebook page.
There are also members of the Forth and Clyde Canal Society who deliver talks to groups within the community who have an interest in the history and heritage of the Lowland Canals. They are reporting that these events are now restarting and invitations to speak are being received.
The Forth and Clyde Canal Society also continues to produce and distribute the Canal News magazine three times per year to the membership body, various interested groups, and local authorities. The Canal News magazine is available in both paper and digital format and a copy is available on our website. All of this would not be possible without the many unpaid hours spent by a small group who produce this interesting publication.
We have secured a non-profit Office 365 account from Microsoft allowing the Society to move our files and documents onto the cloud as an extra security measure and as part of our new business continuity plan.
Boat Maintenance and Crew Training
We must maintain our boats to Marine and Coastguard Agency and Boat Safety standards to allow us to carry passengers in the numbers we do. This is made possible by a group of enthusiastic volunteers who devote many unpaid hours working on our boats ensuring they meet the required standards of passenger carrying vessels. The time spent volunteering this year has been approximately 1,850 hours.
All three of our boats needed considerable levels of work to have their passenger boat safety certificates renewed. As previously mentioned, we achieved this with Voyager and Maryhill, but Gipsy Princess still requires work which is being hampered by weather conditions and the availability of volunteers. The intention is that this work will be completed before winter.
Crew training recommenced in full in March 2024 and although our numbers were reduced, we did have some new members who are very enthusiastic and have attended regularly on Wednesday evenings and other work parties. It is hoped that at least two of the new crew will be able to achieve Boatmaster level in the next year or two.
Scottish Canals have given us use of one of their work boats under the agreement that it is used to support vegetation management along the canal; as part of this agreement Scottish Canals will maintain the boat and provide fuel and equipment.
3
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
Financial Review
The charity had incoming resources of £24,099 (2023: £22,653) and incurred expenditure of £21,536 (2023: £25,549), resulting in a surplus of £2,563 (2023: deficit of £2,896). At 30 September 2024 the charity had unrestricted funds of £40,242 (2023: £37,679) of which £12,601 represented designated funds (2023: £12,635), leaving free reserves of £27,641 (2023: £25,044).
Principal Funding
Principal funding source comes from our Membership Fees, Donations and income from Charters and Slipway bookings.
Reserves Policy
The Society continues to monitor its running costs on a monthly basis and we still have a balance which allows us to maintain and run our boats, produce and distribute our Canal News magazine and also the ongoing costs of our website. Although the accounts are showing surplus for the year, there is a requirement to carefully manage outgoings and seek to increase income sources to ensure future of the Society. For this reason, we have increased the charges for charters and slipway use.
The Trustees continue to ring-fence an amount of £12,500. The amount of money we ringfence has to be flexible to include unforeseen circumstances with regard to our assets i.e., our three boats. These assets are subject to annual depreciation which has to be considered.
Structure and Governance
We will be holding our Annual General Meeting on 23[rd] November 2024 where we elect the Committee and update our membership body on finance, plans for the future and condition of our assets. This also gives the membership the opportunity to question the Committee and put forward their ideas.
The Forth and Clyde Canal Society operate under a Memorandum and Articles of Association which were drawn up on the formation of the Society. The charity is a registered Scottish Charitable Incorporated Organisation.
Persons shall be admitted to membership of the Society upon written application in the terms laid out in the Society agreed membership application form and upon payment of the subscription appropriate to the class of membership. The subscription is subject to annual renewal which the Committee agreed should be in March. The Trustees of the Society are made up of the Chairman, Secretary and Treasurer.
4
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
Reference and Administrative Details
The Forth and Clyde Canal Society is a registered Scottish Charitable Incorporated Organisation, and is registered in Scotland as a charity, Registration Number SC005463, Registered Office: Boat Users Block, Unit 4, Strathkelvin Place, Southbank Marina, Kirkintilloch, G66 1XT.
The Trustees of the Forth and Clyde Canal Society Ltd are
. The aforementioned are also members of the Society Committee of Management who look after the day-to-day operation of the Society. Trustees, who since the inception of the Society, have been the Chairman, Treasurer and Secretary of the Committee of Management are sought from the membership of the Society and are subject to election each year at the Annual General Meeting of the Society.
All the Trustees and members of the Committee of management are all volunteers and no remuneration is given or sought by them for their work.
Funds held as custodian/agent on behalf of others
The Forth and Clyde Canal Society Ltd does not hold any funds or assets on behalf of others.
Plans for the future
The Society will continue to work with Scottish Canals, Scottish Waterways for All, local authorities and other groups and organisations who have an interest in the canal network to maximise its use and enjoyment.
We will continue to update our training programme to MCA standards.
We will endeavour to make contact with the general public in as many ways as we can both by personal contact and use of internet media to inform and invite them to become involved in volunteering along the canal network.
We shall develop the Social Group ensuring that a safe space is provided for everyone who comes to visit.
We will continue to monitor our income and expenditure to ensure we remain a viable group and therefore be able to continue to maintain our presence on the Forth and Clyde Canal.
5
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that year. In preparing the financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the applicable Charities SORP;
-
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 charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006, and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees and signed on their behalf by:
Date: 6 January 2025
6
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF FORTH AND CLYDE CANAL SOCIETY FOR THE YEAR ENDED 30 SEPTEMBER 2024
I report on the accounts of the charity for the year ended 30 September 2024, which are set out on pages 8 to 17.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.
The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in any material respects the requirements:
-
to keep accounting records in accordance with Section 44 (1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
-
to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
168 Bath Street Glasgow G2 4TP
Date: 6 January 2025
7
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
Docusign Envelope ID: 1416733F-5985-4ED1-9BFE-0535A4C88405
FORTH AND CLYDE CANAL SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 30 SEPTEMBER 2024
(Including an Income and Expenditure account)
| cluding an Income and Expenditure | account) |
|---|---|
| Income and endowments from: Donations and legacies Charitable activities Other trading activities Other incoming resources Total Income Expenditure on: Raising funds Raising donations & legacies Charitable expenditure Total Expenditure Net income/(expenditure) Transfers between funds Net movement in funds Funds reconciliation Total Funds brought forward Total Funds carried forward |
Unrestricted Restricted Total Unrestricted Restricted Total Funds Funds Funds Funds Funds Funds Note 2024 2024 2024 2023 2023 2023 £ £ £ £ £ £ 4 3,492 - 3,492 4,998 - 4,998 5 13,536 - 13,536 13,438 - 13,438 6 7,071 - 7,071 3,592 - 3,592 7 - - - 625 - 625 |
| 24,099 - 24,099 22,653 - 22,653 |
|
| 8 740 - 740 350 - 350 9 20,796 - 20,796 25,199 - 25,199 |
|
| 21,536 - 21,536 25,549 - 25,549 |
|
| 2,563 - 2,563 (2,896) - (2,896) - - - - - - |
|
| 2,563 - 2,563 (2,896) - (2,896) 17 37,679 - 37,679 40,575 - 40,575 |
|
| 17 40,242 - 40,242 37,679 - 37,679 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
8
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
BALANCE SHEET AS AT 30 SEPTEMBER 2024
| BALANCE SHEET AS AT 30 SEPTEMBER 2024 | |
|---|---|
| Note Fixed assets: Tangible assets 12 Total fixed assets Current assets: Stocks 13 Debtors 14 Cash at bank and in hand Total current assets Liabilities: Creditors falling due within one year 15 Net current assets Net assets The funds of the charity: Unrestricted funds 17 Restricted income funds 17 Total charity funds |
Total Funds Total Funds 2024 £ 2023 £ 101 135 |
| 101 135 - 432 1,175 249 41,500 38,999 |
|
| 42,675 39,680 (2,534) (2,136) |
|
| 40,141 37,544 |
|
| 40,242 37,679 |
|
| 40,242 37,679 - - |
|
| 40,242 37,679 |
Approved by the trustees and signed on their behalf by:
Date: 6 January 2025
9
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. Accounting Policies
(a) Basis of preparation and assessment of going concern
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
(b) Funds structure
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created funds for specific purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed, or through the terms of an appeal.
Further details of each fund are disclosed in note 17.
(c) Income recognition
Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations, are recognised when the Trust has been notified in writing of both the amount and
settlement date.
Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
10
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. Accounting Policies (continued)
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including governance costs are allocated to the applicable expenditure headings. For more information on this attribution refer to note (f) below.
-
Costs of raising funds comprise the costs associated with attracting voluntary income;
-
Expenditure on charitable activities includes the costs incurred by the charity in the delivery of its activities and services for its beneficiaries;
Irrecoverable VAT is charged as a cost against the activity for which the expenditure is incurred.
(e) Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised. Refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
(f) Allocation of governance costs
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
(g) Tangible fixed assets and depreciation
All assets costing more than £500 are capitalised and valued at historical cost. Depreciation is charged as follows:
Basis Boat 10% straight line Plant and Equipment 25% reducing balance Fixtures, Fitting and Equipment 25% reducing balance
(h) Stock
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
11
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. Accounting Policies (continued)
(i) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
(j) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(k) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(l) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
(m) Judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The trustees are satisfied that the accounting policies are appropriate and applied consistently.
Key sources of estimation have been applied as follows;
Estimate Basis of estimation Depreciation of fixed assets Fixed assets are depreciated and amortised over the useful life of the asset. The useful lives of fixed assets are based on the knowledge of the operations team, with reference to assets expected life cycle.
12
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
2. Legal status of the charity
The charity is a registered Scottish Charitable Incorporated Organisation.
- Related party transactions and trustees’ expenses and remuneration
The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2023: £Nil).
Donations totalling £332 (2023: £Nil) were made by two trustees in the year. There were no expenses reimbursed for travel costs in the year (2023: £Nil). There were also no travel and subsistence expenses waived during the year (2023: £Nil).
During the year no trustee had any personal interest in any contract or transaction entered into by the charity (2023: None).
4. Income from donations and legacies
| 4. Income from donations and legacies | |
|---|---|
| Donations 5. Income from charitable activities Promote, encourage and assist the restoration, conservation and use of the Forth and Clyde Canal 6. Income from other trading activities Events and stock sales 7.Income from other incoming resources Insurance Claim |
2024 £ 2023 £ 3,492 4,998 |
| 3,492 4,998 |
|
| 2024 2023 £ £ 13,536 13,438 |
|
| 13,536 13,438 |
|
| 2024 2023 £ 7,071 £ 3,592 |
|
| 7,071 3,592 |
|
| 2024 2023 £ £ - 625 |
|
| - 625 |
13
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
8. Raising funds – expenditure on raising donations and legacies
| Seeking donations, grants & legacies |
2024 2024 2023 2023 Direct Support 2024 Direct Support 2023 Costs Costs Total Costs Costs Total £ £ £ £ £ £ 740 - 740 350 - 350 |
|---|---|
| 740 - 740 350 - 350 |
9. Analysis of expenditure on charitable activities
| Boat costs, repairs and maintenance Insurance and licences Donations Purchases Sundries Postage and printing Accountancy Depreciation Governance (Note 10) |
2024 2023 £ 9,616 £ 12,278 4,641 6,874 2,000 862 - 240 1,907 1,837 990 1,875 360 - 34 45 1,248 1,188 20,796 25,199 |
|---|---|
10. Allocation of governance
The breakdown of governance costs is shown in the table below:
| he breakdown of governance costs is shown in the table below: | ||
|---|---|---|
| Governance costs: Independent examination fee Allocation of governance: Promote, encourage and assist the restoration, conservation and use of the Forth and Clyde Canal |
2024 2023 £ £ 1,248 1,188 |
|
| 1,248 1,188 |
||
| 2024 £ 2023 £ 1,248 1,188 |
||
| 1,248 1,188 |
14
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
11. Net income/(expenditure) for the year
| This is stated after charging: Depreciation Independent examination fees |
2024 £ 34 2023 £ 45 1,248 1,188 |
|---|---|
12. Tangible Fixed Assets
| 2. Tangible Fixed Assets | |
|---|---|
| Cost or valuation At 1 October 2023 Additions Disposals At 30 September 2024 Depreciation At 1 October 2023 Charge for the year Eliminated on disposals At 30 September 2024 Net book value At 30 September 2024 At 30 September 2023 |
Fixtures, Plant & Fittings & Boat £ Machinery £ Equipment Total £ £ 205,446 9,635 508 215,589 - - - - - - - - |
| 205,446 9,635 508 215,589 |
|
| 205,446 9,507 501 215,454 - 32 2 34 - - - - |
|
| 205,446 9,539 503 215,488 |
|
| - 96 5 101 |
|
| - 128 7 135 |
13. Stock
Stock
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| - | 432 | |
| - | 432 |
14. Debtors
| 4. Debtors | |
|---|---|
| Trade Debtors Prepayments |
2024 2023 £ £ 380 - 795 249 |
| 1,175 249 |
15
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
15. Creditors: amounts falling due within one year
| Accruals Other Creditors Deferred Income (Note 16) |
2024 £ 2023 £ 1,248 1,991 1,286 - - 145 2,534 2,136 |
|---|---|
| 16. Deferred income Balance as at 1 October 2023 Amount released to income earned from charitable activities Amount deferred in year Balance as at 30 September 2024 |
2024 2023 £ £ 145 190 (145) (190) - 145 |
|---|---|
| - 145 |
The prior year deferred income comprises charter deposits received during the year 2022/23 which relate to 2023/24.
17. Analysis of charitable funds
| 2023 Analysis of Fund movements Unrestricted funds Contingency fund Fixed assets Total designated funds General funds Total unrestricted funds Restricted funds Total restricted funds TOTAL FUNDS |
Balance Fund b/fwd Income Expenditure Transfers c/fwd £ £ £ £ £ 15,000 - - (2,500) 12,500 180 - (45) - 135 |
|---|---|
| 15,180 - (45) (2,500) 12,635 25,395 22,653 (25,504) 2,500 25,044 |
|
| 40,575 22,653 (25,549) - 37,679 |
|
| - - - - - |
|
| 40,575 22,653 (25,549) - 37,679 |
| 2024 Analysis of Fund movements Unrestricted funds Contingency fund Fixed assets Total designated funds General funds Total unrestricted funds Restricted funds Total restricted funds TOTAL FUNDS |
Balance b/fwd £ Income £ Expenditure £ Transfers £ Fund c/fwd £ 12,500 - - - 12,500 135 - (34) - 101 |
|---|---|
| 12,635 - (34) - 12,601 25,044 24,099 (21,502) - 27,641 |
|
| 37,679 24,099 (21,536) - 40,242 |
|
| - - - - - |
|
| 37,679 24,099 (21,536) - 40,242 |
16
Docusign Envelope ID: FA587809-CD6E-4104-8226-7BCAA92B62EE
FORTH AND CLYDE CANAL SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
17. Analysis of charitable funds (continued)
- a) The unrestricted funds are available to be spent for any of the purposes of the charity.
The Trustees have created the following designated funds:
Contingency fund – represents funds set aside for unforeseen future expenditure.
Fixed assets – represents funds tied up in the charity’s boats and other assets.
18. Net assets over funds
| . Net assets over funds | ||||
|---|---|---|---|---|
| Fixed assets Stock Debtors Cash at bank Creditors Fixed assets Debtors Cash at bank Creditors |
Unrestricted Funds £ 135 432 249 38,999 (2,136) 37,679 Unrestricted Funds £ 101 1,175 41,500 (2,534) 40,242 |
Restricted Funds £ - - - - - - Restricted Funds £ - - - - - |
Total 2023 £ 135 432 249 38,999 (2,136) |
|
| 37,679 | ||||
| Total 2024 £ 101 1,175 41,500 (2,534) |
||||
| 40,242 |
17