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
Objects
TO PROMOTE THE RESTORATION OF (A) THE MONMOUTHSHIRE CANAL RUNNING FROM NEWPORT TO PONTYMOILE IN THE COUNTY OF GWENT AND ANY BRANCHES THEREOF AND (B) THE BRECON AND ABERGAVENNY CANAL RUNNING FROM BRECON IN THE COUNTY OF POWYS TO PONTYMOILE IN THE COUNTY OF GWENT AND ANY BRANCHES THEREOF AND WATERWAYS ASSOCIATED WITH THEM (HEREINAFTER TOGETHER CALLED "THE WATERWAY") TO GOOD NAVIGABLE ORDER AND TO MAINTAIN AND IMPROVE THE WATERWAY FOR THE USE AND BENEFIT OF THE PUBLIC. (FOR FURTHER DETAILS SEE CLAUSE 3 OF THE MEMORANDUM OF ASSOCIATION).
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
“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
“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
“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
Policies the charity declares
- Bullying and harassment policy and procedures
- Complaints policy and procedures
- Internal charity financial controls policy and procedures
- Internal risk management policy and procedures
- Paying staff
- Safeguarding policy and procedures
- Safeguarding vulnerable beneficiaries
- Serious incident reporting policy and procedures
- Social media policy and procedures
- Trustee conflicts of interest policy and procedures
- Trustee expenses policy and procedures
- Volunteer management
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 Community Fund | 01/06/2014 | £4k | Improvements and Training for the Canal Trip Boat |
| The National Lottery Community Fund | 08/03/2012 | £5k | GAG - The Trust Trip Boat Edith Elizabeth |
| 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 | £523k |
| THE GOWER SOCIETY | 1 | £34k |
| THE JOHN R. MURRAY CHARITABLE TRUST | 1 | £29k |
| SWANSEA C V S | 1 | £15k |
| THE INLAND WATERWAYS ASSOCIATION | 1 | £9k |
| THE WILLIAM ALLEN YOUNG CHARITABLE TRUST | 1 | £9k |
| ETHEL AND GWYNNE MORGAN TRUST | 1 | £6k |
| BNA CHARITABLE INCORPORATED ORGANISATION | 1 | £5k |
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 |