IRIS Accounts Production v24.3.2.46 Other Company accounts True false Pounds 1.4.24 31.3.25 31.3.25 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false true 0 0 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 03487632 2024-03-31 03487632 2025-03-31 03487632 2024-04-01 2025-03-31 03487632 2023-03-31 03487632 2023-04-01 2024-03-31 03487632 2024-03-31 03487632 ns0:CharitableCompanyLimitedByGuarantee 2024-04-01 2025-03-31 03487632 ns15:PoundSterling 2024-04-01 2025-03-31 03487632 ns11:FRS102 2024-04-01 2025-03-31 03487632 ns11:IndependentExaminationCharity 2024-04-01 2025-03-31 03487632 ns11:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03487632 ns11:FullAccounts 2024-04-01 2025-03-31 03487632 ns11:CharitiesSORP 2024-04-01 2025-03-31 03487632 ns16:EnglandWales 2024-04-01 2025-03-31 03487632 ns11:RegisteredOffice 2024-04-01 2025-03-31 03487632 ns0:Trustee1 2024-04-01 2025-03-31 03487632 ns0:Trustee2 2024-04-01 2025-03-31 03487632 ns0:Trustee3 2024-04-01 2025-03-31 03487632 ns0:Trustee4 2024-04-01 2025-03-31 03487632 ns11:CompanySecretary1 2024-04-01 2025-03-31 03487632 ns0:TotalUnrestrictedFunds 2024-04-01 2025-03-31 03487632 ns0:TotalRestrictedIncomeFunds 2024-04-01 2025-03-31 03487632 ns0:Activity8 2024-04-01 2025-03-31 03487632 ns0:TotalUnrestrictedFunds ns0:Activity8 2024-04-01 2025-03-31 03487632 ns0:Activity8 ns0:TotalRestrictedIncomeFunds 2024-04-01 2025-03-31 03487632 ns0:Activity8 2023-04-01 2024-03-31 03487632 ns0:TotalUnrestrictedFunds ns0:Activity9 2024-04-01 2025-03-31 03487632 ns0:Activity9 ns0:TotalRestrictedIncomeFunds 2024-04-01 2025-03-31 03487632 ns0:Activity9 2024-04-01 2025-03-31 03487632 ns0:Activity9 2023-04-01 2024-03-31 03487632 ns0:TotalUnrestrictedFunds 2024-03-31 03487632 ns0:TotalRestrictedIncomeFunds 2024-03-31 03487632 ns0:TotalUnrestrictedFunds 2025-03-31 03487632 ns0:TotalRestrictedIncomeFunds 2025-03-31 03487632 ns0:TotalUnrestrictedFunds ns10:WithinOneYear 2025-03-31 03487632 ns10:WithinOneYear ns0:TotalRestrictedIncomeFunds 2025-03-31 03487632 ns10:WithinOneYear 2025-03-31 03487632 ns10:WithinOneYear 2024-03-31 03487632 2 2024-04-01 2025-03-31 03487632 ns10:OwnedAssets 2024-04-01 2025-03-31 03487632 ns10:OwnedAssets 2023-04-01 2024-03-31 03487632 ns0:TotalUnrestrictedFunds 2023-04-01 2024-03-31 03487632 ns0:TotalRestrictedIncomeFunds 2023-04-01 2024-03-31 03487632 ns0:TotalUnrestrictedFunds ns0:Activity9 2023-04-01 2024-03-31 03487632 ns0:Activity9 ns0:TotalRestrictedIncomeFunds 2023-04-01 2024-03-31 03487632 ns10:PlantMachinery 2024-03-31 03487632 ns10:PlantMachinery 2024-04-01 2025-03-31 03487632 ns10:PlantMachinery 2025-03-31 03487632 ns10:PlantMachinery 2024-03-31

REGISTERED COMPANY NUMBER: 03487632 (England and Wales)

REGISTERED CHARITY NUMBER: 1068943

| Report of the Trustees and |

| Unaudited Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED |

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED |

Contents of the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2025

| Page |

| Report of the Trustees | 1 |  | to |  | 2

| Independent Examiner's Report | 3 |

| Statement of Financial Activities | 4 |

| Balance Sheet | 5 |  | to |  | 6

| Notes to the Financial Statements | 7 |  | to |  | 12

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED (REGISTERED NUMBER: 03487632) |

Report of the Trustees

FOR THE YEAR ENDED 31 MARCH 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To assist with the preservation and maintenance of the Grand Western Canal.

Public benefit

Enabling the wider public to enjoy the benefits of the historic waterway and the surrounding area.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03487632 (England and Wales)

Registered Charity number

1068943

Registered office

6 Oaklands Court

TIVERTON

Devon

EX16 6TG

Trustees

T White

Dr R L P Hodgson

C Whitcombe

Mrs V Whitcombe

Company Secretary

Dr R L P Hodgson

Independent Examiner

William Withers

Withers Steele Chartered Accountants

6 Oaklands Court

TIVERTON

Devon

EX16 6TG

Approved by order of the board of trustees on 18 December 2025 and signed on its behalf by:

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED (REGISTERED NUMBER: 03487632) |

Report of the Trustees

FOR THE YEAR ENDED 31 MARCH 2025

Dr R L P Hodgson - Trustee

Independent Examiner's Report to the Trustees of

The Grand Western Canal Association

Limited

Independent examiner's report to the trustees of The Grand Western Canal Association Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2. | the accounts do not accord with those records; or

3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

William Withers

Withers Steele Chartered Accountants

6 Oaklands Court

TIVERTON

Devon

EX16 6TG

18 December 2025

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED |

Statement of Financial Activities

FOR THE YEAR ENDED 31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Unrestricted |  | Restricted |  | Total |  | Total

| fund |  | funds |  | funds |  | funds

| Notes | £ | £ | £ | £ |

INCOME AND ENDOWMENTS FROM

Donations and legacies | 1,434 |  | - |  | 1,434 |  | 2,088 |

Investment income | 2 | - |  | - |  | - |  | 83 |

Total | 1,434 |  | - |  | 1,434 |  | 2,171 |

EXPENDITURE ON

Raising funds | 1 |  | - |  | 1 |  | 2 |

Charitable activities

Costs of generating voluntary Income | 1,000 |  | - |  | 1,000 |  | - |

Governance Costs |

| - |  | - |  | - |  | 8,745 |

Total | 1,001 |  | - |  | 1,001 |  | 8,747 |

NET INCOME/(EXPENDITURE) | 433 |  | - |  | 433 |  | (6,576 | )

Transfers between funds | 10 | 13,395 |  | (13,394 | ) | 1 |  | - |

Net movement in funds | 13,828 |  | (13,394 | ) | 434 |  | (6,576 | )

RECONCILIATION OF FUNDS

Total funds brought forward | 2,605 |  | 13,394 |  | 15,999 |  | 22,575 |

TOTAL FUNDS CARRIED FORWARD | 16,433 |  | - |  | 16,433 |  | 15,999 |

**ERROR: TOTAL TRANSFERS CURRENT YEAR DO NOT NET OFF TO ZERO, PLEASE AMEND POSTINGS - TRANSFERS 968/11-30

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED (REGISTERED NUMBER: 03487632) |

Balance Sheet

31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Unrestricted |  | Restricted |  | Total |  | Total

| fund |  | funds |  | funds |  | funds

| Notes | £ | £ | £ | £ |

FIXED ASSETS |

Tangible assets | 6 | 4 |  | - |  | 4 |  | 6 |

CURRENT ASSETS |

Debtors | 7 | 16,509 |  | - |  | 16,509 |  | 16,665 |

Cash at bank and in hand | 1,296 |  | - |  | 1,296 |  | 13,684 |

17,805 |  | - |  | 17,805 |  | 30,349 |

CREDITORS |

Amounts falling due within one year | 8 | (1,376 | ) | - |  | (1,376 | ) | (14,356 | )

NET CURRENT ASSETS | 16,429 |  | - |  | 16,429 |  | 15,993 |

TOTAL ASSETS LESS CURRENT LIABILITIES | 16,433 |  | - |  | 16,433 |  | 15,999 |

NET ASSETS/(LIABILITIES) | 16,433 |  | - |  | 16,433 |  | 15,999 |

FUNDS | 10

Unrestricted funds | 16,433 |  | 2,605 |

Restricted funds | - |  | 13,394 |

TOTAL FUNDS | 16,433 |  | 15,999 |

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED (REGISTERED NUMBER: 03487632) |

Balance Sheet - continued

31 MARCH 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 18 December 2025 and were signed on its behalf by:

T White - Trustee

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED |

Notes to the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2025

1. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Income

| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

| Expenditure

| 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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Taxation

| The charity is exempt from corporation tax on its charitable activities.

| Fund accounting

| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | INVESTMENT INCOME

| 31.3.25 |  | 31.3.24

£ | £ |

| Deposit account interest | - |  | 83 |  |

3. | NET INCOME/(EXPENDITURE)

| Net income/(expenditure) is stated after charging/(crediting): |

| 31.3.25 |  | 31.3.24

£ | £ |

| Examiner's fee | 298 |  | 480 |  |

| Depreciation - owned assets | 2 |  | 1 |  |

4. | TRUSTEES' REMUNERATION AND BENEFITS

| There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

| Trustees' expenses

| There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

| Unrestricted |  | Restricted |  | Total

| fund |  | funds |  | funds

£ | £ | £ |

| INCOME AND ENDOWMENTS FROM

| Donations and legacies | 2,088 |  | - |  | 2,088 |

| Investment income | 83 |  | - |  | 83 |

| Total | 2,171 |  | - |  | 2,171 |

| EXPENDITURE ON

| Raising funds | 2 |  | - |  | 2 |

| Charitable activities

| Governance Costs |

|  | 8,745 |  | - |  | 8,745 |

| Total | 8,747 |  | - |  | 8,747 |

| NET INCOME/(EXPENDITURE) | (6,576 | ) | - |  | (6,576 | )

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

| Unrestricted |  | Restricted |  | Total

| fund |  | funds |  | funds

£ | £ | £ |

| RECONCILIATION OF FUNDS

| Total funds brought forward | 9,181 |  | 13,394 |  | 22,575 |

| TOTAL FUNDS CARRIED FORWARD | 2,605 |  | 13,394 |  | 15,999 |

6. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

£ |

| COST

| At 1 April 2024 and 31 March 2025 | 759 |  |

| DEPRECIATION

| At 1 April 2024 | 753 |  |

| Charge for year | 2 |  |

| At 31 March 2025 | 755 |  |

| NET BOOK VALUE

| At 31 March 2025 | 4 |  |

| At 31 March 2024 | 6 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

| 31.3.25 |  | 31.3.24

£ | £ |

| Other debtors | 15,902 |  | 15,902 |  |

| Tax | 457 |  | 621 |  |

| Prepayments and accrued income | 150 |  | 142 |  |

16,509 |  | 16,665 |  |

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts (see note 9) | - |  | 13,394 |  |

| Trade creditors | 976 |  | 482 |  |

| Accrued expenses | 400 |  | 480 |  |

1,376 |  | 14,356 |  |

9. | LOANS

| An analysis of the maturity of loans is given below:

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts falling due within one year on demand:

| Bank overdrafts | - |  | 13,394 |  |

10. | MOVEMENT IN FUNDS

| Net |  | Transfers |  |

| movement |  | between |  | At |

| At 1.4.24 |  | in funds |  | funds |  | 31.3.25 |

£ | £ | £ | £ |

| Unrestricted funds

| General fund | 2,605 |  | 433 |  | 13,395 |  | 16,433 |  |

| Restricted funds

| Fenacre Site | 3,165 |  | - |  | (3,165 | ) | - |  |

| Burlescombe | 384 |  | - |  | (384 | ) | - |  |

| Wardens Tools | 103 |  | - |  | (103 | ) | - |  |

| Lowdwells | 470 |  | - |  | (470 | ) | - |  |

| Nynehead | 1,000 |  | - |  | (1,000 | ) | - |  |

| Rescue Fund | 8,063 |  | - |  | (8,063 | ) | - |  |

| Tap Fund | 209 |  | - |  | (209 | ) | - |  |

13,394 |  | - |  | (13,394 | ) | - |  |

| TOTAL FUNDS | 15,999 |  | 433 |  | 1 |  | 16,433 |  |

| Net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| General fund | 1,434 |  | (1,001 | ) | 433 |  |

| TOTAL FUNDS | 1,434 |  | (1,001 | ) | 433 |  |

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

10. | MOVEMENT IN FUNDS - continued

| Comparatives for movement in funds

| Net |  |

| movement |  | At |

| At 1.4.23 |  | in funds |  | 31.3.24 |

£ | £ | £ |

| Unrestricted funds

| General fund | 9,181 |  | (6,576 | ) | 2,605 |  |

| Restricted funds

| Fenacre Site | 3,165 |  | - |  | 3,165 |  |

| Burlescombe | 384 |  | - |  | 384 |  |

| Wardens Tools | 103 |  | - |  | 103 |  |

| Lowdwells | 470 |  | - |  | 470 |  |

| Nynehead | 1,000 |  | - |  | 1,000 |  |

| Rescue Fund | 8,063 |  | - |  | 8,063 |  |

| Tap Fund | 209 |  | - |  | 209 |  |

13,394 |  | - |  | 13,394 |  |

| TOTAL FUNDS | 22,575 |  | (6,576 | ) | 15,999 |  |

| Comparative net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| General fund | 2,171 |  | (8,747 | ) | (6,576 | ) |

| TOTAL FUNDS | 2,171 |  | (8,747 | ) | (6,576 | ) |

| THE GRAND WESTERN CANAL ASSOCIATION |

| LIMITED |

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

10. | MOVEMENT IN FUNDS - continued

| A current year 12 months and prior year 12 months combined position is as follows:

| Net |  | Transfers |  |

| movement |  | between |  | At |

| At 1.4.23 |  | in funds |  | funds |  | 31.3.25 |

£ | £ | £ | £ |

| Unrestricted funds

| General fund | 9,181 |  | (6,143 | ) | 13,395 |  | 16,433 |  |

| Restricted funds

| Fenacre Site | 3,165 |  | - |  | (3,165 | ) | - |  |

| Burlescombe | 384 |  | - |  | (384 | ) | - |  |

| Wardens Tools | 103 |  | - |  | (103 | ) | - |  |

| Lowdwells | 470 |  | - |  | (470 | ) | - |  |

| Nynehead | 1,000 |  | - |  | (1,000 | ) | - |  |

| Rescue Fund | 8,063 |  | - |  | (8,063 | ) | - |  |

| Tap Fund | 209 |  | - |  | (209 | ) | - |  |

13,394 |  | - |  | (13,394 | ) | - |  |

| TOTAL FUNDS | 22,575 |  | (6,143 | ) | 1 |  | 16,433 |  |

| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| General fund | 3,605 |  | (9,748 | ) | (6,143 | ) |

| TOTAL FUNDS | 3,605 |  | (9,748 | ) | (6,143 | ) |

11. | RELATED PARTY DISCLOSURES

| There were no related party transactions for the year ended 31 March 2025.