THE full cost of cancelling this year's eagerly anticipated Saul Canal Festival and Folk on the Water Weekend has been put at £30,000.

Event organisers were forced to scrap plans for the popular weekend event, scheduled for the beginning of this month, with just four days' notice after torrential rainfall and severe flooding at the end of last month.

The substantial loss comes as a blow to the major £24 million project to restore the abandoned canal between Saul and Brimscombe Port.

Restoring the banks and paths alongside the stretch, on which work will officially begin next month, relies on the help of volunteers from the Cotswold Canals Trust, for which the event has previously proven a key annual fundraiser.

"The expected shortfall is roughly equivalent to the annual sum we normally raise to pass on to Cotswold Canals Trust to help with the vital work of restoring the Cotswold waterways for the economic and leisure benefit of the whole area," said festival director Clive Field.

The huge financial loss has been incurred despite gestures to waive refunds from some ticket-holders, traders, advertisers and sponsors.

The festival, which began in 1997, usually plays host to hundreds of visiting boats from all over the country, children's entertainment, demonstrations, live music, theatre, craft stalls and a marine trade show.

Despite the cancellation, organisers have decided to send out the 96-page programme as it contains a wealth of up-to-date information about the restoration, the performing artists and to honour the advertisers' expectations.

Over the next six days almost 1,000 letters will be sent out regarding refunds for camping pitches, boat moorings and music tickets.

The letters will offer a full refund but also propose the opportunity of making a donation to the trust to mitigate the loss.

"Hopefully, a good number of those receiving the letters will be sympathetic to our situation and respond positively," said Jack Telling, Cotswold Canals Trust treasurer.

If you have not received a refund letter by Monday, July 30 call 01453 766751. More details are available at www.junctionevents.org.uk.