EAST ANGLIAN RAILWAY MUSEUM Registered Charity Number 1001579 Registered Company Number 02546486 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
EAST ANGLIAN RAILWAY MUSEUM CONTENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Page Legal & administration infomation Trustees, Annual Report Independent examiners, report Statement of financial activities Balance sheet 9-10 Notes to the financial statements
EAST ANGLIAN RAILWAY MUSEUM LEGAL & ADMINSTRATION INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2023 Charity Number 1001579 Company Number 0972290 Truste88 P Martin - Chair M Cornell M Stanbury M Fogg Elliot P Robinson Registered office Chappel & Wakes Colne Station Station Road Wakes Colne Colchester Essex C06 2DS Independent examiner Community360 Winsley's House Colchester Essex C01 1UG
EAST ANGLIAN RAILWAY MUSEUM TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Objectives and organisational structure The principal objects of the Company are defined in its Memorandum of Association that states.. The Museum is established to advance the education of the public with regard to railways in particular by collecting, preserving, interpreting, documenting material evidence and associated information for the public benefit by (but without prejudice to the generality of the foregoing) the maintenance of a Museum for items of historical railway interest, and by the restoration, maintenance and operation of a railway on or alongside the Museum, or on other sites, and the display and demonstration of Museum items and railway for the benefit of the public as items of technical and general interest and educational value, and in furtherance of the foregoing objective the Museum will be vested with the powers of operation of the Chappel & Wakes Colne Light Railway. To fulfil these aims the Museum administers the East Anglian Railway Museum at Chappel & Wakes Colne Station, Colchester, Essex. The Museum owns the freehold of the station buildings and goods yard, with approximately 6 acres of adjoining land, and approximately 6.5 acres of land adjacent to Bures Road west of the station. A long-term lease on peppercorn rent is held on land forming half of the station platfom and railway track alongside the operational line of Network Rail. A programme of steam days and other special events is undertaken, alongside the 156 day a year opening of the Museum site, in order to raise interest in the historical assets held and to raise funds for their maintenance and the general development of the Museum. The Trustees meet monthly as a full board to discuss all matters relating to the perforrnan, finance, and future development of the Museum. Attendance at board meetings, of which there were 12 in the year, attended by Trustees Peter Martin, (Chair), Mark Cornell, Peter Robinson, Mike Stanbury and Mark Fogg Elliot as Treasurer. Secretary Liz Larvor resigned in April 2023, with Mike Bradley taking over secretarial duties from June 2023. Review of financial position The year was the first to be free of any coronavirus restrictions and was generally year of consolidation in terms of the way we opened to the public, continuing to open 3 days per week and running a calendar of basic, low investment events to rebuild our revenues. However, projects already undeNay have continued:
EAST ANGLIAN RAILWAY MUSEUM TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 The N7 boiler is being progressed in Liverpool, being funded by legacies and donations. Meanwhile the rest of the engine is being made presentable, and much interest is being generated. The new firebox for Lamport has arrived on site and works on the chassis are largely complete. Repair work to the boiler and water tank are continuing This loco has been donation funded so far. Works on the Exhibition Hall continued, with the construction of the annex flooring and the levelling of the rolling stock area completed alongside construction of the track for the non-connected road. Tree planting also took pla along the embankment. The work to continue the renewal of our track assets also continued over the winter period, with a moderate investment needed in new materials to ensure that these efforts would be long lasting. Over the year in focus, the Museum along with many other voluntarily run and administered organisations reviewed their Post Covid financial status. The continued hard work of our'in-house, marketing and events teams have certainly helped to reduce the costs of payroll expenditure. The year has seen a more normal events program, with Days out with Thomas still providing the biggest revenue stream, however the other events have seen extremely healthy returns with a focus on keeping costs lost, whilst taking advantage of an apparent increase in the domestic leisure and holiday market. Poor weather at Christmas with frozen conditions did unfortunately resutt in the cancellation of some running days on safety grounds. Other costs, particularly coal and utilities have seen a substantial increase, primarily due to external factors, but so far these have been accommodated within our current revenues. The hire of Thomas lookalike locomotive No.54 to both Utrecht and the Mid Hants railway has generated some useful income. Review of Activities and Achievements The works continuing on the Exhibition Hall the represents the most significant visual 'on site, changes for many years. In the background, the planning application for the construction of the replacement for the BDJ Heritage Centre was approved in March 2023. Much other work continues in many quarters - not only on this - and is the subject of other individual reports and articles written elsewhere.
EAST ANGLIAN RAILWAY MUSEUM TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Our in-house marketing team has seen a stream of low cost advertising developed and supported with regular press releases, which has been reflected in our visitor numbers. To fulfil our educational objectives, there continues to be strong interest in school visits, together with visits by parties of members from other organisations, with several outreach talks being held, apart from the general education and enlightenment of the public during our various operating and non-operating days, when volunteers converse with the public to explain the historic role of railways within the social fabric of society- Special thanks are due from the Trustees for all those involved in this aspect of the Museum to support our key education objective. Our workshop staff and volunteers have continued to turn out excellent vehicle restoration projects over the course of the year, uplifting the condition of our collection overall something that will only improve the visitor experien. May 2023 also saw a visit from our regulator, the Office of Rail and Road, principally concerned with a review of our competency management as well as a general site walkaround. We received an encouraging report following the visit. Membership and Museum Visitor Attendance One of the problems shared by the Museum and other similar organisations is that of getting new members, particularly from the younger age groups. Active volunteering numbers have been healthy over the year, with growing numbers of mid-week volunteers not only giving us the use of their skills but enjoying the social aspects of their volunteer work. Visitor attendance during the year in question has been encouraging with our running days well patronised. Days out with Thomas have been a major source of income for the Museum, as have the Beer Festivals run in conjunction with CAMRA. The September Beer Festival has continued to be a reduced and more manageable cost-conscious event since 2019, focusing on quality rather than quantity, and given its success this will continue going fomard. Public Benefit As noted in the objectives and organisational structure section of the report, the Charitable purpose of the Museum is twofold.. firstly, the advancement of education in relation to railways and secondly the advancement of heritage regarding items of railway interest and social history. We continue to open the Museum to all members of the public for 3 days a week including some bank holidays providing education in social history of the region and the development of railways and their technological advancements Sin the
EAST ANGLIAN RAILWAY MUSEUM TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Victorian age of their InPtion. We maintain and improve the heritage buildings and exhibits that form both the setting and the means to display the history of the location and means of travel over that time. The achievements of these objectives by the Museum are also detailed in the review of activities and achievements and review of the financial position sections of this report so the Trustees believe they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charities Commission. Investment and Reserves Policy The Trustees have resolved to establish reserves to provide for future activities and they have wide powers of investment through its shareholding in the Trading Company and bank deposits. At the year-end we had maintained a healthy level of cash reseNes enabling our investment programme with the build of the new Exhibition Hall and future intentions to replace the Heritage Centre. Risk Management This continues to be a major concern of the Trustees and all non-charitable activities are run through the Trading Company whose directors are appointed with approval from the Trustees via the AGM. The Trustees identify the major risks to which the Museum is exposed each financial year when updating the strategic plan, in particular those related to the operation of the Museum and its finances. We believe that through the updating of policies and procedures, and their implementation we are meeting our legislative and regulatory responsibilities. Future sustainability is a key aspect of our long-term development plan to ensure the ongoing viability of the Museum, its collection and display. Long Temi Proposals The Trustees are tasked with supporting the approved plans for the new Heritage Centre, and other improvements on site, including our existing Restoration Shed and main station buildings. With a substantial workload, additional support is needed on the Board of Trustees. Some of these requirements may be met from grant aid, but others from revenue income for which effort is required to ensure the running of sucSsful money earning events. Legal status The Museum is an incorporated Charity governed by Memorandum and Articles, and there are no restrictions in the governing documents on the operation of the charity or on its investment powers, other than those imposed by general Charity law.
EAST ANGLIAN RAILWAY MUSEUM TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Trustees. re8pon8ibilities for the financial statements The Charity's Trustees are responsible for preparing financial statements for each financial year that give a true and fair view of the Charitable Company's incoming resources and application of resources during the year and of its state of affairs at the end of the year. In preparing those financial statements, the Trustees are required to.. Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP. Make judgments and estimates that are reasonable and prudent. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006 and Statement of Recommended Practice.. Accounting and Reporting by Charities. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Serious Incidents There were no serious incidents which needed to be brought to the attention of the Charity Commissioners. Approved by the Trustees and signed on their behalf by M D Cornell Trustee Date= 28th March 2025
EAST ANGLIAN RAILWAY MUSEUM INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 I report on the accounts of East Anglian Railway Museum for the year ended 30 September 2023 which are set out on pages 8 to 21. Respective responsibilities of trustees and examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 ffhe Act) but that an independent examination is needed. The charities gross income exeded £250,000 and l am qualified to undertake the examination by being a qualified member of Association of Accounting Technicians. 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 Commissioners (under se10n 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 the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the eviden that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. I 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. David Courtier FMAAT AATQB for and on behalf of: Community360 Winsley's House, High Street, Colchester, Essex Date 2 8 N k 20L(fr rc
EAST ANGLIAN RAILWAY MUSEUM STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestri¢ted Restricted Destgnated 2023 2023 2023 Total 2023 Total 2022 Notes Incoming resources Donations & legacies Other Irading income Incoming resources from Charilable aclivities 30,057 6,345 30,057 6,346 9,235 1,305 295,744 295.744 310,987 Total Incoming resources 332,146 332.146 321,527 Resources expended Costs of raising funds Charitable activities 14,659 122,173 136,832 14.669 122,172 136,831 49.798 245,550 295,348 Total resources expended Net rnovement in funds for the year 195,314 195,314 26,178 Revaluation 475,571 Balances brought fonvard at 1 October 2022 1,736,762 49.436 535,567 2.321.766 1,820,017 Balances carried forward at 30 September 2023 1,932,076 49,436 536,567 2.517.080 2,321,766 Contlnulng operations All incoming resources and resources expended derive from continuing activities Notés on pages 11 21 form part of these financial statements
EAST ANGLIAN RAILWAY MUSEUM BALANCE SHEET AS AT 30 SEPTEMBER 2023 Notes 2023 2023 2022 2022 Fixed assets Tangible asset Heritage assets Inalienable and historic assels Investments 305,601 737,189 316,775 530.880 10 11 12 890,596 1,933,386 890,596 1,738,251 Current assets Debtors Cash at bank and in hand 12 441,271 206,558 647,829 417,401 204,421 621,822 Creditors: amounts falling due wlthin one year Net Current assets 14 64,136 38.307 583,693 2,517,079 583,515 2.321,766 Total assets less current1Sabllltles Net assets 2.517.079 2,321,766 Funds 15 Unrestricted reserves Restricted reserves Prior Revenue reserve Property & Assets Revaluation reserve Goodwill reserve 957,362 49,436 535,567 807,005 167,709 2,517.079 762,048 49,436 535,567 807,005 167,709 2,321,766
EAST ANGLIAN RAILWAY MUSEUM BALANCE SHEET AS AT 30 SEPTEMBER 2023 For the year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small Companies. Truslee's responsibilities.. The Trustees have not required the Company to obtain an audit of its financial statements for the year in question in accordance with section 476., The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. Approved by the Board of Trustees on 24th March 2025. and signed on its behalf by M D Cornell Trustee Company Number: 02546486 Date.. 28th March 2025 10
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 1. Accounting policies Basis of accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statemenl on Recommended Practise applicable to charities preparing their account$ in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191- (Charities SORP {FRS 102}l. the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. ststement of cash flows The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a slalement under Financial Reporting Standard 1 "Cash flow statements". Legal status The Charity is a Company Limited by Guarantee, each member having undertaken to contribute such amounts not exceeding one pound as may be required in the event of the Company being wound up whilst he or she is still a member or within one year thereafter. Restricted and designated funds Funds restricted by the donor are treated as restricted funds. All other receipts are unrestricted funds however the Charity has designated part of these funds for specific purposes. The aim and use of each designated fund is detailed in the notes to the financial statements. General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Incoming resour¢es All incoming resources a included in the statement of financial activities when the Charity is legally entitled to the income and the amount can be quantified wrth reasonable accuracy. For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. Income is deferred onty when the Charity has lo fulfil conditions before becoming enlrtled to it or where the donor has specified that the income is to be expended in a future period. Gifts in kind donated are included at valuation and recognised as income when they are distributed to Ihe projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Charity where this can be quantified and a third paty is bearing Ihe cosl. No amounts are included in the financial statements for services donated by volunteers. 11
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 1. Accounting policies {continued} Incoming resources {continuedl Grants from Ihe Government and other agencies have been included as income from activities in furtherance of the Charity's objects where these amount to a contract for services, but as donations where the money is given in response to an appeal or with greater freedom of use, for example, Government block grants. Resources expended All expenditure is accounted for on an accTuals basis and is recognised when there is a legal or conslnjclive obligation lo pay. Expenditure has been classified under headings that aggregale all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on 8 basis consistent with the use of the resources. The cost of activities in furtherance of the Charity's objectives represent the cost of goods and seNices and ancillary trading costs that have been incurred in the Charitable activities. These also include costs directly incurred in support of Ihe objects of the Museum. Costs of generating funds inclLsde running fundraising and Museum events. Governance costs are those incurred in connection with the compliance of the Charity with constitutional and statutory requirements. Inalienable assets The Museum acquires and maintains artefacls in furtherance of its aims of preserving items of historical interest connected with the railways. The artefacts are capitalised at cost. The Lsseful life of the asset is considered to be $0 long that any depreciation charge would be immaterial, therefore no depreciation is charged on these 8sset$. Tangible fixed assets and depre¢iation Tangible fixed assets costing more than £250 are capitalised, including any incidental expenses of acquisition. Deprecialion is provided at the following annual rates in order to write off each asset over ils estimated useful life.. Freehold buildings Plant and machinery Fixtures and fittings Locomotive restoration Vehicles 2°k straight line 10°/o Straight line 15°/o Straight line 7 years straight line 150/0 straight line No depreciation is provided in respect of inalienable and historic assets. 12
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 1. Accounting policios l¢ontinuod) Investments The Museum holds controlling interests in subsidiary Companies, which undertake other activities at the same localion. Taxatlon The Museum is a Charity within the meaning of section 506{1) of the Taxes Act 1988. Accordingly the Charity is potentially exempt from taxation in respect of income or capital gains received wthin categories covered by Section 505 of Ihe Taxes Act 1988 or Section 256 of the taxation of Chargeable Gains Act 1992 lo Ihe extent that such income or gains are applied to exclusively Charitable purposes. Financial instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equty instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its Consolidation In the opinion of the Directors, the Charitable Company and its subsidiary undertakings comprise a small group. The Charitable Company has therefore taken advantage of the exemption provided by Section 398 of the Companie$ Act 2006 not to prepare group accounts. 2. Windlng up or dissolution of the Charity If upon winding up or dissolution of the Charity there remain any assets, after the satisfaction of all debts and liabililies, the assets represented by the accumulated fund shall be transferred lo some olher Charitable body or bodies having similar objects to the Charrty. 3. Donatlons and legacies Unrestricted Restrictsd 2023 2022 Other donations Legacies Gifts in Kind 21,974 8,083 21,974 8,083 4,985 250 4,000 9.235 30,057 30,057 13
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 4. Other trading it)come Unre$tri¢tsd Restricted 2023 2022 Museum events 6.345 6.345 1,305 East Anglian Railway Museum runs beer festival evenls Ihroughout the year. These evenls are run with CAMRA, who take a percentage of the profil made. Therefore as this is a joint event and not all the income and expenditure are related to East Anglian Railway Museum, just the monies made on these evenls are included in these accounts. 5. Incoming resourcos from ¢haritable activities Unrestricted Restricted 2023 2022 Museum membership Museum admissions Gift aid tax refunds Other income Grants Bank interest receivable Sale of assets 422 275,520 3,643 13,537 500 122 2,000 295,744 422 275,520 3,643 13,537 500 122 2,000 295,744 2,729 295,871 5,847 1,718 4.814 310.987 6. Ci)sts of raising funds Unrestricted Restricted 2023 2022 Museum events expenditure 14,659 14.659 49,798 14
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 7. Charitable activities Unrestricted Restrict 2023 2022 Museum admissions 122,173 122.173 122,173 122,173 245,551 245,551 Charitable aclivty expenditure can be further analysed as follows= Unrestricted Restricted 2023 2022 Cost of goods or services as a Charitable activity Wages and national insurance Publicity Bank charges Sundry expenses Insurance Depreciation 4,987 4,987 135,327 79,192 2,208 296 4.648 19,488 11,354 79,192 2,208 296 4,648 19,488 11,354 72,211 1,324 404 6,995 17,936 11,354 122,173 122,173 245,551 8. Staff costs Unrestricted Resthctsd 2023 2022 Gross salaries Social security costs Pension costs 74,871 3,265 1,056 79,192 74,871 3,265 1,056 79.192 69,841 1,659 711 Total staff costs 72.211 2023 2022 The actual number of employees during Ihe year was made up as follows.. Charitable activities Key management personnol There are no management staff employed with East Anglian Railway Museum. No member of staff received more Ihan £60,000 per annum. Is
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 9. Tangible fixed assets Freehold land and buildings Other tangible assets Motor Vehicles Total Cost or valuatlon At 1 October 2022 Additions Disposal Revaluation 494,322 73,020 567,342 At 30 September 2023 494.322 73,020 567,342 Depreciation At 1 October 2022 Charge for the year Revaluation Disposal At 30 Septsmber 2023 190,231 9,318 60,336 1,856 250,567 11,174 199.549 62,192 261,741 Net book values At 30 September 2023 294,773 10,828 305,601 At 30 September 2022 304,091 12,684 316,775 As land and buildings are not separately identifiable. land has been depreciated al a rate of 20/0 Straight line. A freehold propety was valued for insurance purposes in May 1999 by John V Story & Co. a firm of independent Chartered SUNeyors. The adjuslment was made and is refleed in the revaluation reserve. The Charity revalued the freehold propety in order to take advantage of Ihe new SORP 2015 rules coming into force, Iherefore does nol revalue annually. The freehold property was £340,904 at the end of the year before valuation. It was revalued by Stanfords at £360,000 in tolal. The revaluation reseNe has been amended as appropriate. 16
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 10. Heritage assets Horltage Assets Total Cost or valuation At 1 October 2022 Additions Revaluation 530,880 206,309 530,880 206,309 At 30 September 2023 737.189 737,189 Depreciation At 1 October 2022 Charge for the year Disposal At 30 September 2023 Net book values At 30 September 2023 737,189 737,189 At 30 September 2022 530.880 530,880 11. Inalienable and historic assets 2023 2022 Rolling stock 12. FIX asset investments 2023 2022 Unlisted investments Cost al 1 October 2022 Addrtions 890,596 890.596 Cost at 30 September 2023 890,596 890,596 Unlisted investments comprise-. 2023 2022 East Anglian Raitway Museum {Tradingl Limited Easlern Counties RaiaY Company Limited 886,597 3,999 890.596 886,597 3,999 890,596 17
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 13. Fixed asset investments Icontinuedl The charty's investments at the balance sheet date in the share capital of companies include the following.. East Anglian Rallway Museum {Tradlngl Llmlted County of incorporation.. England and Wales Nature of business.. Operating Ihe Irading aspecls of Ihe Easl Anglian RaiaY Museum Class of shares: Ordinary Holding 95 2023 2022 Aggregate capilal and reserve5 Gain for Ihe year Turnover 990,945 1148,951 } 41,385 990,945 {81,1941 52,239 Eastern Countles Rallway Company Llmlted County of incorpor8tion'. England and Wales Nature of business.. Development of land at Railway Station Class of share8: Ordinary Holding 98 2023 2022 Aggregate capital and reserves {Loss} for the year 3.204 3.204 14. Debtors 2023 2022 Amounts due from associated or subsidiary undertakings Prepayments other debtors 422,032 15,413 3,826 441.271 384,207 15,413 17,781 417.401 14. Creditors: amounts falling due within one year 2023 2022 Other creditors PAYE and national insurance Inlercompany loans 51.088 9,844 3,204 64,136 32,807 2,296 3,204 38,307 18
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 15. Unrestricted funds Movement in funds Balance at 30.09.22 Transfer between funds Balan¢0 at 30.09.23 Incoming resources Expenditure Unrestricted funds Restricted funds 762,048 49,436 332,146 {136,8321 957,362 49,436 Property Revaluation Resetve Prior revenues invesled Goodwill ReseNe 807,005 807.005 535,567 167,709 2,321,766 535,567 167,709 2,517.079 332.146 {136,8321 The Charity views the revenue reserve as a general unrestricted fund, which represents funds expended at its, discretion. These funds have been used to finance working capital and capital investment. Restricled funds are by definition only permrtted to be used for the purposes specified in their generation or donation. £115.000 was a legacy specifically for the purpose of restoring the N7 locomotive to running order. 16. Analysls of net funds Unrestricted Restricted 2023 2022 Fixed assets Current assets (exc cashl Cash at bank and in hand Current liabilities Long term debtors Not assets 1,888,505 441,271 202,003 164,1361 44,881 1,933,386 441,271 206,558 {64,136} 1.738,251 417,401 204,421 138,3071 4,555 2.467.643 49,436 2.517.079 2.321.766 19
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 17. Related parties At 30 September 2023 the Museum held the following inter company balances with rts subsidiaries. Debtor balances of £384,207 {2022'. £384,207) with East Anglian Railway Museum (Trading) Limited and creditor balances £3,20412022'. £3,204) with Eastern Counties Railway Company Limited. Dunng the year the Museum paid rent of £Nil to East Anglian Railway Museum ITrading} Limited, {2022.' £160,0001- No remuneration has been paid to Truslees during the year. Expenses have been reimbursed to Trustees of a total of £Nil12022.. £Nill 18. Consolidated accounts Consolidated accounts have not been prepared as they are not considered necessary in order to show a true and fair view for Ihe group as a whole, due to the small syze of the subsidiaries. 20
EAST ANGLIAN RAILWAY MUSEUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 19. Comparative note for previous years statement of financial activities Unrestricted 2022 Restricted Designated 2022 2022 Total 2022 Incoming resources Incoming resources from generating funds.. Voluntary income Income for generating funds Incoming resources from Charitable activities Total incomong resources 9,235 1,305 9,235 1.305 306,173 4,814 310,987 316,713 4,814 321.527 Resources expended Costs of generating funds Charitable activities Total resources expended 49,798 124,524 174,322 49,798 245,550 295,348 121,027 121,027 Net movement in funds for the year 142,391 (116,213) 26,179 Revaluatlon 475,571 475,571 Balances brought forward at l October 2021 1,118,800 165,649 535,567 1,820,016 Balances carried forward at 30 September 2022 1,736,762 49,436 535,567 2,321,766