MONMOUTHSHIRE, BRECON AND ABERGAVENNY CANALS TRUST LIMITED
1/ Organise and run canal awareness days2/ Organise and run social events based on canals3/ Give talks to interested groups on the local canals4/ Organise and run canal restoration projects
Latest income
£148k
Latest spending
£192k
Registered
1985
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that the charity maintained a designated reserve fund of £40,000 to cover three months of wages and bills. Total income for the year was £147,637.35, while total expenditure amounted to £190,618.44, resulting in a net deficit for the period. The financial statements were subject to an independent examination rather than a full audit.
What the accounts disclose
Reserves policy: three months of unrestricted expenditure (held: £40k)
“MBACT keeps a reserve sufficient to maintain the wages and bills at Fourteen Locks for a period of 3 months, the directors have agreed to maintain this designated fund of £40000 for this purpose.” — page 4
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Fourteen Locks Centre Ltd and MBACT Regeneration Ltd are companies set up by MBACT and wholly owned by it. Both companies have an agreement with MBACT under which their profits are donated 100% to MBACT.
“Fourteen Locks Centre Ltd and MBACT regeneration Ltd are companies set up by MBACT and wholly owned by it. This circumvents the ban on permanent trading which is enshrined in the MBACTs governing documents. Fourteen Locks Centre Ltd allows income from sales at the Fourteen Locks Canal Centre, and MBACT Regeneration Ltd allows profit from the selling of rights and boat trips. Both companies have an agreement with MBACT under which their profits are donated 100% to MBACT, enabling the companies to avoid tax liabilities.” — page 3
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: Fourteen Locks Centre Ltd, MBACT Regeneration Ltd
“Fourteen Locks Centre Ltd and MBACT regeneration Ltd are companies set up by MBACT and wholly owned by it. This circumvents the ban on permanent trading which is enshrined in the MBACTs governing documents.” — page 3
Per its FY2024 accounts as filed with the Charity Commission.
Funders the charity credits
- Heritage Lottery Funding
- Cwmbran Community Council
Property (HM Land Registry)
Trustees
- John Alfred Collierchair
- Captain Andrew Bernard Ward
- Jayne Collier
- Richard John Dommett MBE
- Richard Longford
- Robert Allan Coldwell
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £148k | £192k |
| 31/12/2023 | £155k | £149k |
| 31/12/2022 | £82k | £57k |
| 31/12/2021 | £59k | £67k |
| 31/12/2020 | £90k | £53k |
Common questions
Is MONMOUTHSHIRE, BRECON AND ABERGAVENNY CANALS TRUST LIMITED financially healthy?
Per its FY2024 accounts: The accounts state that the charity maintained a designated reserve fund of £40,000 to cover three months of wages and bills. Total income for the year was £147,637.35, while total expenditure amounted to £190,618.44, resulting in a net deficit for the period. The financial statements were subject to an independent examination rather than a full audit. Its FY2024 accounts were independently examined.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Community Fund | 22/09/2020 | £10k | COVID-19 - Heritage at the heart of the community! |
| The National Lottery Community Fund | 08/07/2019 | £6k | Go Wild |
| The National Lottery Heritage Fund | 27/06/2014 | £84k | "The Fourteen Locks Canal Centre Future Skills Project" |
| The National Lottery Heritage Fund | 17/09/2007 | £5k | "The project is to restore a rare copy of a book containing canal and railway maps from the nineteenth century. The money is for restoration" |
| The National Lottery Heritage Fund | 21/02/2006 | £4k | "The project is to enable an historical society to increase archive material and provide higher quality presentations. The money is for copie" |
| The National Lottery Heritage Fund | 23/09/2003 | £3k | "The project is to host the 2004 National Trailboat Festival. The money is for hire of equipment and facilities." |
| The National Lottery Heritage Fund | 28/03/2002 | £4k | "The project is to increase archive material and improve the administration of the group. The money is for copies of historical documents, a" |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| M J CAMP CHARITABLE FOUNDATION | 3 | £403k |
| THE JOHN R. MURRAY CHARITABLE TRUST | 1 | £29k |
| THE WILLIAM ALLEN YOUNG CHARITABLE TRUST | 1 | £9k |
| BNA CHARITABLE INCORPORATED ORGANISATION | 1 | £5k |
| G M C TRUST | 1 | £4k |
| THE NINEVEH CHARITABLE TRUST | 1 | £4k |
Charities like this
- THE CHESTERFIELD CANAL TRUST LIMITED
- THE SHROPSHIRE UNION CANAL SOCIETY LIMITED
- THE WEY AND ARUN CANAL TRUST LIMITED
- THE EXETER CANAL AND QUAY TRUST LIMITED
- THE MONTGOMERY WATERWAY RESTORATION TRUST
- THE KENNET AND AVON CANAL TRUST, LIMITED
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| MONMOUTHSHIRE, BRECON AND ABERGAVENNY CANALS TRUST LIMITED | £148k | — | 0 | unclear | — | no doubt |
| THE CHESTERFIELD CANAL TRUST LIMITED | £1.0m | — | 0 | above | — | no doubt |
| THE SHROPSHIRE UNION CANAL SOCIETY LIMITED | £190k | — | 0 | above | — | no doubt |
| THE WEY AND ARUN CANAL TRUST LIMITED | £816k | — | 0 | above | — | no doubt |
| THE EXETER CANAL AND QUAY TRUST LIMITED | £377k | — | 0 | unclear | — | no doubt |
| THE MONTGOMERY WATERWAY RESTORATION TRUST | £394k | — | 0 | unclear | — | no doubt |