ANNUAL GENERAL MEETING related documents.

ANNUAL GENERAL MEETING related documents.

11 December 2018 | SCS, Society

Agenda for the Annual General Meeting of the Swansea Canal Society to be held at Vardre Rugby Club on Monday 7th January 2019 at 7 p.m.

Apologies for absence
Minutes of the Annual General Meeting held on Wednesday 29th November 2017
Matters arising from the minutes
Chairman’s Report
Secretary’s Report
Treasurer’s Report and presentation of accounts
Election of Trustees
Any other business

Note to agenda Item 7:

The two longest serving trustees retire automatically by rotation but are eligible to stand. These are Michelle Davidson and Gillian Thomas who both wish to stand for re-election. Martin Davies will also be retiring after serving as a trustee for many years.

Trustees’ Summary Report and Accounts for the year 6th April 2017 to 5th April 2018

The Society continues to maintain a close relationship with the Canal and River Trust, (CRT) who are the owners of the extant portion of the canal. We are also a corporate member of the Inland Waterways Association (IWA), and liaise with a large number of other local and national bodies over the canal and its restoration including local councils, Swansea Bay Inland Waterway Partnership, the Neath and Tennant Canals Trust and Sustrans.

The Society is currently financially sound.

The main current risks to the society are associated with accidents both during our maintenance and restoration work and relative to our canoe operation. These are mitigated by a close attention to safe practices combined with the proper levels of insurance. A developing risk to the work of the society is the budgetary constrains of CRT. The major implication of this is that no improvement work can be undertaken on the canal which would result in an increase to CRT’s maintenance costs and we are developing means to offset such increase.

The Society continues to advance its work to revitalise the canal –

In April 2017 we prepared to demolish the 1970s buildings that had been built over the route of the canal towpath when a 100m section of the Swansea Canal was buried and piped in 1973. This section of the canal had

been generously donated to the Society in December 2016 by the City and County of Swansea.

Co-operation between the City and County of Swansea, St Benedict’s RC Church, Sustrans, the Canal and River Trust, the local community and our society has been exemplary in every aspect of the restoration of this important ‘missing link’. By December 2107 we and our contractors had reinstated the towpath to its original route and modern standards as part of National Route 43. The official opening in January 2018 was attended by nearly 150 dignitaries, local residents and school children. The ribbon was cut by Cllr. Robert Stewart the Cabinet Leader of the City and County of Swansea, assisted by attenders at Whitethorns Day Care Centre, Morriston.
By March 2018 we and our consultant engineer, Patrick Moss, were drawing up preliminary plans for the redevelopment and restoration of the rest of the site.
Our Community Canoe and Kayak Hire Project entered its 4th season in April 2017. We opened each Sunday throughout the Spring and Summer, Tuesdays in the school holidays plus group bookings from local firms and private individuals. Gill Thomas has done amazing work ensuring we have enough volunteers to run this operation.
We have received generous funding since April 2017. We were the chosen charities by both Tescos in Pontardawe and the Co-

opSupermarket in Clydach during the summer of 2107. The money raised enabled us to buy a trailer for transporting our canoes. Much needed repairs to the Mond Lock in Clydach were carried out thanks to another generous donation by the Gower Society in October 2017 and we were equally grateful for funding from the Mynydd Y Bettws Wind Farm Community Fund for funds to buy a dumper truck.

The publication of the definitive history of the Swansea Canal edges closer. Over the past ten years, Stephen Hughes and Clive Reed have worked tirelessly with the Royal Commission of the Ancient and Historic Monuments of Wales to bring this work to the public.
The Funding bid to the Rural Communities Development Fund for the dredging of a one mile section of the Canal from Clydach to Trebanos continued to progress in 2017-2018 with the responsibility for making the final application now having been passed to the Canal and River Trust. We work closely with the CRT at all times and are grateful for

their advice and support. The dredging will enable the Society to organise a Trail Boat festival and also operate a trip boat along this lovely section of the canal.

Our weekly work parties continued to meet each Tuesday maintaining and restoring the canal along its five mile length. A further Sunday work party was set up in May 2017 to concentrate solely on the northern section of the canal from Pontardawe to Ynysmeudwy. It now meets on the third Sunday of each month. The day to day litter picking and vegetation clearance is a big part of both these work parties though skills learnt from CRT have enabled us to also repoint locks, build walls and repair wash-holes and towpath surfaces.
The voluntary hours put in by our members in 2107 to 2018 is a matter of great pride to the Society. Our expertise continues to increase and we pass on skills learnt to all those who join our ranks. We are a hands-on Society and the benefits, both mental and physical, of satisfying outdoor community work are now universally acknowledged.
Our long-term aim continues to be the joining up of the Neath, Tennant and Swansea canals to form a 35 mile navigation waterway. The Swansea Bay Inland Waterway Partnership, of which we are a very active member, met at quarterly intervals throughout 2017 to pursue this aim. Every project on the Swansea Canal helps to bring this vision a little closer to reality.

Statement of Financial Affairs for the year ending 5th April 2018

Restricted Unrestricted

income funds

funds £ £ £ £

Incoming resources

Incoming resources from generated funds – – – –

Voluntary income 1,424 17,140 18,564 2,008 Activities for generating funds 987 – 987 328

Investment income 4 – 4 7

1,846 – 1,846 2,516 Other incoming resources – – – –

Total incoming resources 4,261 17,140 21,401 4,859

Resources expended Costs of Generating Funds – – – – Costs of generating voluntary income 49 – 49 9

Fundraising trading costs – – – 55 Investment management costs – – – –

Charitable activities 2,538 10,282 12,820 1,887

Governance costs 4,722 – 4,722 3,981 Other resources expended 0 – 0 -324

Total resources expended 7,585 10,282 17,867 5,608

-3,324 6,858 3,534 -749

Gross transfers between funds – – – –

-3,324 6,858 7,489 -749

3,950 – 3,950 –

Gains and losses on investment assets – – – –

Net movement in funds 626 6,858 7,489 -749

Total funds brought forward 35,441 2,307 37,748 38,497

Total funds carried forward 36,067 9,165 45,237 37,748

Total this year

Total last year

Incoming resources from charitable activities Net incoming/(outgoing) resources before transfers

Net incoming/(outgoing) resources before other recognised gains/(losses)

Other recognised gains/(losses)

Charity No: 1168894

SWANSEA CANAL SOCIETY Unaudited Financial Statements For the year ended 5th April 2018

Cambrian & Co Ltd 13A Victoria Gardens

Neath SA11 3AY

SWANSEA CANAL SOCIETY (Charity No: 1168894)

Contents of the Financial Statements

For the year ended 5th April 2018

Page

Society Information

Independent Examiners Report

Profit and Loss Account

Balance Sheet

Notes to the Financial Statements

5 to 18

Charity No: 1168894

SWANSEA CANAL SOCIETY For the year ended 5th April 2018

Society Information

Chairman

Gordon Walker

Treasurer

John Gwalter

Trustees

Gordon Walker John Gwalter Martin Davies

Andy Ellis Gill Thomas Michelle Davidson Liz Willicombe (Resigned 19/11/2017) John Davies

Address

Westlyn New Road Llanmorlais SA4 3T)

Charity Number

1168894

Accountants

Cambrian & Co Ltd 13A Victoria Gardens Neath SA11 3AY

Charity No: 1168894

SWANSEA CANAL SOCIETY Independent Examiner‘s Report

Report to the trustees/members of Swansea Cancel Society on the accounts for the year ended 5th April 2018, Charity number 1105624 set out on pages 3 – 18.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The chairty’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an Independent examination is needed. It is my responsibility to: – examine the accounts under section 145 of the Charities Act, – to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and – to state whether particular matters have come to my attention

Basis of Independent Examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination

includes a review of 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 seeking 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 no opinion is given whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner‘s statement

In connection with my examination, no matter has come to my attention:

1) Which give me reasonable cause to believe that in, any material respect, the requirements: – to keep accounting records in accordance with section 130 of the Charities Act; – to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

……………

Signed

–

1614/16

10 …….

Date

Dylan Jones A.C.A.

Cambrian & Co. Ltd 13A Victoria Gardens Neath SA11 3AY

Charity No: 1168894

SWANSEA CANAL SOCIETY

Profit and Loss Account For the Year Ended 5th April 2018

UNRESTRICTED

FUNDS

RESTRICTED

INCOME FUNDS

ENDOWMENT

FUNDS

TOTAL 2018

TOTAL 2017

17,140

1,424 987

18,564

987

2,008 328

INCOMING RESOURCES (NOTE 3) Incoming Resources from Generated Funds Voluntary Income Activities for Generating Funds Investment Income Incoming resources from Charitable Activities Other Incoming Resources TOTAL INCOMING RESOURCES

1,846

2,516

4,261

17,140

21,401

4,859

–

– –

–

RESOURCES EXPENDED (NOTES 4-8) Cost of Generating Funds Costs of Generating Voluntary Income Fundraising Trading Costs Investment Management Costs Charitable Activities Governance Costs Other Resources Expended TOTAL RESOURCES EXPENDED

10,282

–

2,814 4,722

13,096

4,722

,887 3,981

324 5,608

7,585 |

10,282

17,867F

NET INCOMING/(OUTGOING) RESOURCES BEFORE TRANSFERS

3,324

6,858

3,534 –

749

GROSS TRANSFERS BETWEEN FUNDS

NET INCOMING/(OUTGOING) RESOURCES BEFORE OTHER RECOGNISED GAINS/(LOSSES)

13,3246,858

–

3,534

749

OTHER RECOGNISED GAINS/(LOSSES)

Gains and losses on Revaluation of Fixed Assets for the Charity’s Own Use Gains and Losses on Investment Assets

3,955

–

3,955

NET MOVEMENT IN FUNDS

3,324

6,858

–

7.489-

749

TOTAL FUNDS BROUGHT FORWARD

35,441

2,307

37,748

38,497

TOTAL FUNDS CARRIED FORWARD

36,072

9,165

45,237

37,748

Charity No: 1168894

SWANSEA CANAL SOCIETY

Balance Sheet For the Year Ended 5th April 2018

UNRESTRICTED

FUNDS

RESTRICTED

INCOME FUNDS

ENDOWMENT

FUNDS

TOTAL 2018

TOTAL 2017

Fixed Assets Tangible assets

(Note9)

7,195.00

–

7,195.00

6,133.00

(Note 10)

Investments Total fixed assets

7,195.00

6,133.00

40.00 40.00

40.00 7,360.00

40.00 24.00

7,320.00

Current assets Stock and work in progress Debtors

(Note 11) (Short term) investments Cash at bank and in hand Total Current assets

30,989.00 31,069.00

30,989.00 38,389.00 |

31,758.00 31,822.00

7,320.00

Creditors: amounts falling due within one year

(Note 12)

347.00

–

347.00

206.00

Net current assets/(liabilities)

30,722.00

7,320.00

–

38,042.00

31,616.00

Total assets less current labilities

37,917.00

7,320.00

45,237.00

37,749.00

Creditors: amounts falling due after one year

(Note 12) Provisions for liabilities and charges

–

Net Assets

37,917.00

7,320.00

45,237.00 |

37,749.00

26,033.00 10,039.00

Funds of the Charity Unrestricted funds Accumulated depreciation Allocated funds Restricted income funds Endowment funds (Note 13) Total funds

1,008.00 7,150.00 27,284.00 2,307.00

(Note 13)

9,165.00

36,072.00

9,165.00

45,237.00

37,749.00

Signed by one or two trustees on behalf of all

Signature

Print Name

Date of approval

GS MARKE 115/10/2016

LALTER | isliela18

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 1

Basis of preparation

This section should be completed by all charities.

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Financial Reporting Standards for Smaller Enterprises (FRSSE); and with the Charities Act.

1.2 Change in basis of accounting There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

1.3 Changes to previous accounts No changes have been made to accounts for previous years.

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 2

Accounting policies

This standard list of accounting policies has been applied by the Charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

These are included in the Statement of Financial Activities (SOFA) when:

Recognition of incoming resources

The charity becomes entitled to the resources;

the trustees are virtually certain they will receive the resources; and
the monetary value can be measured with sufficient reliability, Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.

Incoming resources with related expenses

Grants & Donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Tax reclaims on donations and gifts

Contractual income and performance related grants

This is only included in the SOFA once the related goods or services have been delivered.

Gifts in kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.

Donated services and facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measureable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees annual report.

Investment income

This is included in the accounts when receivable.

Investment gains and losses

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

EXPENDITURE AND LIABILITIES

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay our resources.

Governance costs

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants payable without performance conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

Support costs

Support costs include central functions and have been allocated to activity costs categories on a basis consistent with the use of resources, eg. Allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

ASSETS

Tangible fixed assets for use by charity

These are capitalised if they can be used for more than one year, and cost at least £500.00. They are valued at cost or a reasonable value on receipt.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees best estimate of market value.

These are valued at the lower of cost or market value.

Stocks and work in progress

None

POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 3

Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

This year

Last year

Analysis

Voluntary income

Membership subscriptions Donations Grants

584.00

815.00 17,140.00

357.00

113.00 1,277.00

Other

25.00 18,564.00

261.00 2,008.00

Total

637.00

243.00

Activities for generating funds

Sales Events Canoe Hire Refreshment

350.00

85.00

Total

987.00 |

328.00

Investment income

Interest on deposits

4.00

7.00

Total

4.00

7.00

Canoe hire project

1,846.00

2,516.00

Income resources from charitable activities

Total

1,846.00

2,516.00

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 4

Analysis of resources expended

Resources expended may be further analysed if this would help the reader of the accounts

This year

Last year

Analysis

9.00

Costs of generating voluntary income

29.00 20.00

Membership subscriptions Fundraising costs Canoe hire Publicity Events

–

Total

49.00

9.00

Fundraising trading costs

Event Costs

–

55.00

Total

= 55.00

Investment management costs

Total

Charitable activities

68.00

Clydach Yard & Other Canoe project Waterway recovery group Work, party equipment and expenses Restoration costs

10,282.00

402.00 755.00 793.00

863.00 13,095.00

574.00

775.00 1,417.00

Total

Governance costs

Accountants fees Depreciation Other costs

420.00 2,889.00 1,413.00

360.00 2,043.00 1,578.00

Total

4,722.00

3,981.00

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 5

Support costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

Fundraising activity

Charitable activity

Governance activity

Support cost type

Total cost

Total

Note 6 6.1

Details of certain items of expenditure Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees.

This year

Last year

Number of trustees who were paid expenses

Reimbursement of costs of purchase on behalf of the

Nature of expenses

society.

Total amount paid

1,948.00

917.30

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor.

This year £

Last year f

Independent examiners or auditors fees for reporting on the accounts

420

360

Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor.

None

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 7 Paid employees Please complete this note if the charity has any employees.

7.1

Staff costs

This year

Last year

Gross wages. Salaries and benefits in kind Employers National Insurance costs Pension costs

Total staff costs

one

None

7.2

Average number of full-time equivalent employees in the year

This year Number

Last year Number

The parts of the charity in which the employees work

Total

None

None

7.3 Defined contribution pension scheme Please complete if a defined contribution pension scheme is operated. Brief details of scheme.

Not Operated

This year

Last year

The cost of the scheme to the charity for the year The amount of any contributions outstanding at the year end The amount of any contributions prepaid at the year end

None

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 8 Grantmaking Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

8.1

Total value of grants

Institutions Total amount

Individuals Total amount

Purpose for which grants made

Total

8.1 Grantmaking costs If the charity’s accounts are prepared on the “activity” basis please give details of any support cost associated with grantmaking. Please enter “NIL” if the charity does not identify and/or allocate support costs. Support costs of grantmaking

£ N/A

8.3

Grants made to institutions

If the charity has made grants to particular institutions that are material in the context of its grantmaking please give details of the institution supported, purpose of the grant and total paid to each institution listed. Sufficient information should be given to provide a reasonable understanding of the range of institutions supported.

Total amount of Names of institutions

Purpose

grants paid

Total grants to institutions

ENIL

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 9 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

9.1

Plant

Total

Cost or Valuation

Freehold

land & Buildings

Other land & buildings

Fixtures & fittings

Machinery & Motor Vehicles

| Payments on

account & assets under construction

13,279.00 3,950.00

13,284.00 3,950.00

Balance brought forward Additions Revaluations Disposals Transfers Balance carried forward

5.00

17,229.00

17,234.00

9.2

Accumulated depreciation and impairment provisions

**basis **rate

RB N/A

RB 20.00%

RB N/A

RB I VA

7,150.00

2,889.00

Balance brought forward Depreciation charge for year Impairment provisions Revaluations Disposals Transfers* Balance carried forward

10.039.00

10,039.00

9.3

Net book value

Brought forward Carried forward

6,128.00 ,190.00

6,133.00 7,195.00

9.4 Revaluation If any fixed assets have been revalued please give details of the value and method of valuation.

None

* The “transfers” row is for movements between fixed asset categories,

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 10 investments assets Please complete this note if the charity has any investment assets.

10.1

Fixed asset investments

Carrying (market) value at beginning of year Add: Additions to investments at cost Less: Disposals at carrying value Add/(deduct): Net gain (loss) on revaluation Carrying (market) value at end of year

NONE

Please provide below:

10.2 10.3

A breakdown of the market values of investments shown above with the balance sheet A Breakdown of the income from investments agreeing with SOFA.

Analysis of investments

10.2

Market

income from

Value at

investments for

the year

year end

Investment properties

Investments listed on a recognised stock exchange or held in common investment funds, open ended investment companies, unit trusts or other collective investment schemes.

Investments in subsidiary or connected undertakings and companies

Securities not listed on a recognised stock exchange

Cash held as part of the investment portfolio

Other investments

Total

NONE

10.4 Material investment holdings If any single investment is material in terms of its value (for example represents more than 5 per cent of the value of the charity’s total investments) please provide details.

Investments held Market value

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 11 Debtors and prepayments Please complete this note if the charity has any debtors or prepayments.

Analysis of debtors

Amounts falling due within one year This year Last year

Amounts falling due after more than one year This year Last year

40.00

Trade debtors Amounts due from subsidiary and associated undertakings Other Debtors Payments and accrued income

Total 2840.00

Note 12 Creditors and accruals Please complete this note if the charity has any creditors or accruals 12.1 Analysis of creditors

Amounts falling due within one year This year Last year

Amounts falling due after more than one year This year Last year

Loans and overdrafts trade creditors Amounts due to subsidiary and associated undertakings Other Creditors Accruals and deferred income

347.00

206.00

Total

347.00

206.00

12.2 Security over assets If any loan, overdraft or other creditor holds a charge or other security over nay assets of the charity please provide details.

None

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 13 Endownment and restricted income funds Please complete this section if the charity has any endownment or restricted income funds.

13.1

Funds held

Please give a brief description of any of the following type of funds held by the charity.

permanent endownment funds (PE); expendable endownment funds )EE); restricted income funds, including special trusts, of the charity

Fund Name

Purpose and restrictions

or R

13.2 Movements of major funds Please give details of the movements of the major funds summarised in the restricted and endownment columns of the Statement of Financial Activities.

Fund balances brought forward

Fund balances carried forward

Fund names

Gains and

Incoming Resources

Outgoing resources

Transfers

losses

Restricted funds Unrestricted funds

£ 2,307.00 € £ 35,441.00£

17,140.00 – 4,261.00 –

10,282 7,585.00

£ 9,165.00 | £ 32,117.00

Total £ 37,748.00 | £ 21,401.00 -£ 7,585.00

£ 41,282.00

13.3 Transfers between funds Please give details of any transfers between funds.

From Fund (Name) To Fund (Name)

Reason

Amount

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 14 Transactions with related parties If the charity has any transactions with related parties (other than the trustee expenses explained in note 6) details of such transactions should be provided in this note. If there are no transactions to report, please enter “None” in the relevant boxes.

14.1

Remuneration and benefits

Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee or other related parties by the charity or any institution or company connected with it.

Name of trustee Name of trustee or

Connected party

Legal authority (eg order, governing document)

Amounts paid or benefit value

This year Last year

None

14.2 Loans Please give details of and amounts owing to or from the charity’s trustees or other related parties by the charity at the year end.

Name of trustee or connected party

Amounts paid or benefit value

This year Last year

Legal authority

Due to trustees and related Parties Due from trustees and related Parties

14.3 Other transaction(s) with trustees or related parties Please give details of any transaction undertaken by (or on behalf of) the charity in which a trustee or related party has a material interest.

This year

Last Year

Name of the trustee or related party

Relationship to charity

Description of the transaction(s)

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 15

Additional disclosures

The following are significant matter which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

Charity No: 1168894

SWANSEA CANAL SOCIETY Unaudited Financial Statements For the year ended 5th April 2018

Cambrian & Co Ltd 13A Victoria Gardens

Neath SA11 3AY

SWANSEA CANAL SOCIETY (Charity No: 1168894)

Contents of the Financial Statements

For the year ended 5th April 2018

Page

Society Information

Independent Examiners Report

Profit and Loss Account

Balance Sheet

Notes to the Financial Statements

5 to 18

Charity No: 1168894

SWANSEA CANAL SOCIETY For the year ended 5th April 2018

Society Information

Chairman

Gordon Walker

Treasurer

John Gwalter

Trustees

Gordon Walker John Gwalter Martin Davies

Andy Ellis Gill Thomas Michelle Davidson Liz Willicombe (Resigned 19/11/2017) John Davies

Address

Westlyn New Road Llanmorlais SA4 3T)

Charity Number

1168894

Accountants

Cambrian & Co Ltd 13A Victoria Gardens Neath SA11 3AY

Charity No: 1168894

SWANSEA CANAL SOCIETY Independent Examiner‘s Report

Report to the trustees/members of Swansea Cancel Society on the accounts for the year ended 5th April 2018, Charity number 1105624 set out on pages 3 – 18.

Respective responsibilities of trustees and examiner

Basis of Independent Examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination

Independent Examiner‘s statement

In connection with my examination, no matter has come to my attention:

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

……………

Signed

–

1614/16

10 …….

Date

Dylan Jones A.C.A.

Cambrian & Co. Ltd 13A Victoria Gardens Neath SA11 3AY

Charity No: 1168894

SWANSEA CANAL SOCIETY

Profit and Loss Account For the Year Ended 5th April 2018

UNRESTRICTED

FUNDS

RESTRICTED

INCOME FUNDS

ENDOWMENT

FUNDS

TOTAL 2018

TOTAL 2017

17,140

1,424 987

18,564

987

2,008 328

1,846

2,516

4,261

17,140

21,401

4,859

–

– –

–

10,282

–

2,814 4,722

13,096

4,722

,887 3,981

324 5,608

7,585 |

10,282

17,867F

NET INCOMING/(OUTGOING) RESOURCES BEFORE TRANSFERS

3,324

6,858

3,534 –

749

GROSS TRANSFERS BETWEEN FUNDS

NET INCOMING/(OUTGOING) RESOURCES BEFORE OTHER RECOGNISED GAINS/(LOSSES)

13,3246,858

–

3,534

749

OTHER RECOGNISED GAINS/(LOSSES)

Gains and losses on Revaluation of Fixed Assets for the Charity’s Own Use Gains and Losses on Investment Assets

3,955

–

3,955

NET MOVEMENT IN FUNDS

3,324

6,858

–

7.489-

749

TOTAL FUNDS BROUGHT FORWARD

35,441

2,307

37,748

38,497

TOTAL FUNDS CARRIED FORWARD

36,072

9,165

45,237

37,748

Charity No: 1168894

SWANSEA CANAL SOCIETY

Balance Sheet For the Year Ended 5th April 2018

UNRESTRICTED

FUNDS

RESTRICTED

INCOME FUNDS

ENDOWMENT

FUNDS

TOTAL 2018

TOTAL 2017

Fixed Assets Tangible assets

(Note9)

7,195.00

–

7,195.00

6,133.00

(Note 10)

Investments Total fixed assets

7,195.00

6,133.00

40.00 40.00

40.00 7,360.00

40.00 24.00

7,320.00

Current assets Stock and work in progress Debtors

(Note 11) (Short term) investments Cash at bank and in hand Total Current assets

30,989.00 31,069.00

30,989.00 38,389.00 |

31,758.00 31,822.00

7,320.00

Creditors: amounts falling due within one year

(Note 12)

347.00

–

347.00

206.00

Net current assets/(liabilities)

30,722.00

7,320.00

–

38,042.00

31,616.00

Total assets less current labilities

37,917.00

7,320.00

45,237.00

37,749.00

Creditors: amounts falling due after one year

(Note 12) Provisions for liabilities and charges

–

Net Assets

37,917.00

7,320.00

45,237.00 |

37,749.00

26,033.00 10,039.00

Funds of the Charity Unrestricted funds Accumulated depreciation Allocated funds Restricted income funds Endowment funds (Note 13) Total funds

1,008.00 7,150.00 27,284.00 2,307.00

(Note 13)

9,165.00

36,072.00

9,165.00

45,237.00

37,749.00

Signed by one or two trustees on behalf of all

Signature

Print Name

Date of approval

GS MARKE 115/10/2016

LALTER | isliela18

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 1

Basis of preparation

This section should be completed by all charities.

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Financial Reporting Standards for Smaller Enterprises (FRSSE); and with the Charities Act.

1.2 Change in basis of accounting There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

1.3 Changes to previous accounts No changes have been made to accounts for previous years.

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 2

Accounting policies

This standard list of accounting policies has been applied by the Charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

These are included in the Statement of Financial Activities (SOFA) when:

Recognition of incoming resources

The charity becomes entitled to the resources;

the trustees are virtually certain they will receive the resources; and
the monetary value can be measured with sufficient reliability, Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.

Incoming resources with related expenses

Grants & Donations

Tax reclaims on donations and gifts

Contractual income and performance related grants

This is only included in the SOFA once the related goods or services have been delivered.

Gifts in kind

Donated services and facilities

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees annual report.

Investment income

This is included in the accounts when receivable.

Investment gains and losses

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

EXPENDITURE AND LIABILITIES

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay our resources.

Governance costs

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

Grants with performance conditions

Grants payable without performance conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

Support costs

ASSETS

Tangible fixed assets for use by charity

These are capitalised if they can be used for more than one year, and cost at least £500.00. They are valued at cost or a reasonable value on receipt.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees best estimate of market value.

These are valued at the lower of cost or market value.

Stocks and work in progress

None

POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 3

Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

This year

Last year

Analysis

Voluntary income

Membership subscriptions Donations Grants

584.00

815.00 17,140.00

357.00

113.00 1,277.00

Other

25.00 18,564.00

261.00 2,008.00

Total

637.00

243.00

Activities for generating funds

Sales Events Canoe Hire Refreshment

350.00

85.00

Total

987.00 |

328.00

Investment income

Interest on deposits

4.00

7.00

Total

4.00

7.00

Canoe hire project

1,846.00

2,516.00

Income resources from charitable activities

Total

1,846.00

2,516.00

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 4

Analysis of resources expended

Resources expended may be further analysed if this would help the reader of the accounts

This year

Last year

Analysis

9.00

Costs of generating voluntary income

29.00 20.00

Membership subscriptions Fundraising costs Canoe hire Publicity Events

–

Total

49.00

9.00

Fundraising trading costs

Event Costs

–

55.00

Total

= 55.00

Investment management costs

Total

Charitable activities

68.00

Clydach Yard & Other Canoe project Waterway recovery group Work, party equipment and expenses Restoration costs

10,282.00

402.00 755.00 793.00

863.00 13,095.00

574.00

775.00 1,417.00

Total

Governance costs

Accountants fees Depreciation Other costs

420.00 2,889.00 1,413.00

360.00 2,043.00 1,578.00

Total

4,722.00

3,981.00

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 5

Support costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

Fundraising activity

Charitable activity

Governance activity

Support cost type

Total cost

Total

Note 6 6.1

Details of certain items of expenditure Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees.

This year

Last year

Number of trustees who were paid expenses

Reimbursement of costs of purchase on behalf of the

Nature of expenses

society.

Total amount paid

1,948.00

917.30

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor.

This year £

Last year f

Independent examiners or auditors fees for reporting on the accounts

420

360

Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor.

None

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 7 Paid employees Please complete this note if the charity has any employees.

7.1

Staff costs

This year

Last year

Gross wages. Salaries and benefits in kind Employers National Insurance costs Pension costs

Total staff costs

one

None

7.2

Average number of full-time equivalent employees in the year

This year Number

Last year Number

The parts of the charity in which the employees work

Total

None

None

7.3 Defined contribution pension scheme Please complete if a defined contribution pension scheme is operated. Brief details of scheme.

Not Operated

This year

Last year

The cost of the scheme to the charity for the year The amount of any contributions outstanding at the year end The amount of any contributions prepaid at the year end

None

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 8 Grantmaking Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

8.1

Total value of grants

Institutions Total amount

Individuals Total amount

Purpose for which grants made

Total

£ N/A

8.3

Grants made to institutions

Total amount of Names of institutions

Purpose

grants paid

Total grants to institutions

ENIL

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 9 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

9.1

Plant

Total

Cost or Valuation

Freehold

land & Buildings

Other land & buildings

Fixtures & fittings

Machinery & Motor Vehicles

| Payments on

account & assets under construction

13,279.00 3,950.00

13,284.00 3,950.00

Balance brought forward Additions Revaluations Disposals Transfers Balance carried forward

5.00

17,229.00

17,234.00

9.2

Accumulated depreciation and impairment provisions

**basis **rate

RB N/A

RB 20.00%

RB N/A

RB I VA

7,150.00

2,889.00

Balance brought forward Depreciation charge for year Impairment provisions Revaluations Disposals Transfers* Balance carried forward

10.039.00

10,039.00

9.3

Net book value

Brought forward Carried forward

6,128.00 ,190.00

6,133.00 7,195.00

9.4 Revaluation If any fixed assets have been revalued please give details of the value and method of valuation.

None

* The “transfers” row is for movements between fixed asset categories,

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 10 investments assets Please complete this note if the charity has any investment assets.

10.1

Fixed asset investments

NONE

Please provide below:

10.2 10.3

A breakdown of the market values of investments shown above with the balance sheet A Breakdown of the income from investments agreeing with SOFA.

Analysis of investments

10.2

Market

income from

Value at

investments for

the year

year end

Investment properties

Investments listed on a recognised stock exchange or held in common investment funds, open ended investment companies, unit trusts or other collective investment schemes.

Investments in subsidiary or connected undertakings and companies

Securities not listed on a recognised stock exchange

Cash held as part of the investment portfolio

Other investments

Total

NONE

Investments held Market value

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 11 Debtors and prepayments Please complete this note if the charity has any debtors or prepayments.

Analysis of debtors

Amounts falling due within one year This year Last year

Amounts falling due after more than one year This year Last year

40.00

Trade debtors Amounts due from subsidiary and associated undertakings Other Debtors Payments and accrued income

Total 2840.00

Note 12 Creditors and accruals Please complete this note if the charity has any creditors or accruals 12.1 Analysis of creditors

Amounts falling due within one year This year Last year

Amounts falling due after more than one year This year Last year

Loans and overdrafts trade creditors Amounts due to subsidiary and associated undertakings Other Creditors Accruals and deferred income

347.00

206.00

Total

347.00

206.00

12.2 Security over assets If any loan, overdraft or other creditor holds a charge or other security over nay assets of the charity please provide details.

None

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 13 Endownment and restricted income funds Please complete this section if the charity has any endownment or restricted income funds.

13.1

Funds held

Please give a brief description of any of the following type of funds held by the charity.

permanent endownment funds (PE); expendable endownment funds )EE); restricted income funds, including special trusts, of the charity

Fund Name

Purpose and restrictions

or R

13.2 Movements of major funds Please give details of the movements of the major funds summarised in the restricted and endownment columns of the Statement of Financial Activities.

Fund balances brought forward

Fund balances carried forward

Fund names

Gains and

Incoming Resources

Outgoing resources

Transfers

losses

Restricted funds Unrestricted funds

£ 2,307.00 € £ 35,441.00£

17,140.00 – 4,261.00 –

10,282 7,585.00

£ 9,165.00 | £ 32,117.00

Total £ 37,748.00 | £ 21,401.00 -£ 7,585.00

£ 41,282.00

13.3 Transfers between funds Please give details of any transfers between funds.

From Fund (Name) To Fund (Name)

Reason

Amount

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

14.1

Remuneration and benefits

Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee or other related parties by the charity or any institution or company connected with it.

Name of trustee Name of trustee or

Connected party

Legal authority (eg order, governing document)

Amounts paid or benefit value

This year Last year

None

14.2 Loans Please give details of and amounts owing to or from the charity’s trustees or other related parties by the charity at the year end.

Name of trustee or connected party

Amounts paid or benefit value

This year Last year

Legal authority

Due to trustees and related Parties Due from trustees and related Parties

This year

Last Year

Name of the trustee or related party

Relationship to charity

Description of the transaction(s)

Charity No: 1168894

SWANSEA CANAL SOCIETY Notes to the Financial Statements For the Year Ended 5th April 2018

Note 15

Additional disclosures

Latest News:

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DREDGING

The Swansea Canal should be a premier visitor destination.

Swansea Canal Society is applying for Welsh Government funding to regenerate the canal between Clydach and Trebanos.

SCS volunteers are already repairing the historic structures along the waterway. If our application to the Rural Communities Development Fund is approved, contractors will dredge the water channel under the supervision of Canal & River Trust staff.

The dredging will be the next phase of our vision to regenerate the historic waterway as a premier water-based activity centre.

A beautiful but underused canal is being transformed into a major visitor destination. This will help support local businesses by raising the profile of the rural areas of Neath and Swansea as a base for tourism, with more money spent in the local economy by visitors.

With a trip boat, a small boat Festival, canoeing, disabled angling, and high-quality interpretation of our valley’s heritage, the Swansea Canal will be an exciting place to visit, as well as offering healthy lifestyle activities such as walking and cycling.

As part of the application for funding, Swansea Canal Society must show that the project will benefit the local tourism economy.

If you know anyone with a business based in the rural areas, can you please ask them to show their support for this exciting project by completing a very brief response form at:-

https://www.surveymonkey.co.uk/r/5BXFHMF

ABOUT THE SOCIETY

We are a society run by volunteers who are all enthusiastic about maintaining, improving and restoring the canal. We are always looking for new volunteers to help us in a range of ways from administration, fundraising, working on the canal, to working on our Canoe Hire Project. All abilities and ages are welcome.

If you would like to join us in any capacity, you will be given a warm welcome. Just go to the Contact Us page and we will get back to you as soon as possible.

If you feel that volunteering is not for you, then perhaps you would like to support us by becoming a member. Whatever you decide to do, please come and visit the canal and take a walk or ride along it, and enjoy its beauty and the wildlife it supports.

Thank you for looking at our website and we hope you enjoy reading our blogs, looking at our photographs and seeing what we are doing.

Upcoming Events

18 Mar