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2024-09-30-accounts

EAST ANGLIAN RAILWAY MUSEUM Registered Charity Number 1001579 Registered Company Number 02546486

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

EAST ANGLIAN RAILWAY MUSEUM

CONTENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Page
Legal & administration information 1
Trustees' Annual Report 2 - 6
Independent examiners' report 7
Statement of financial activities 8
Balance sheet 9 - 10
Notes to the financial statements 11 - 21

EAST ANGLIAN RAILWAY MUSEUM

LEGAL & ADMINSTRATION INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2024

----- Start of picture text -----
Charity Number 1001579
Company Number 0972290
Trustees P Martin - Chair
M Cornell
M Stanbury (Resigned 23rd March 2024)
M Fogg Elliot
P Robinson
B Sothcott (Appointed 23rd March 2024)
J Collison (Appointed 23rd March 2024)
Registered office Chappel & Wakes Colne Station
Station Road
Wakes Colne
Colchester
Essex
CO6 2DS
Independent examiner Community360
Winsley's House
Colchester
Essex
CO1 1UG
----- End of picture text -----

1

EAST ANGLIAN RAILWAY MUSEUM

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

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 about railways in particular by collecting, preserving, interpreting, and documenting material evidence and associated information for the public benefit by

by restoring, maintaining, and operating a railway on or alongside the Museum, and displaying and demonstrating Museum items and railway for the benefit of the public as items of technical and general interest and educational value. The museum has 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 14 acres of surrounding land. A long-term lease on peppercorn rent is held on land forming half of the station platform and railway track alongside the operational line of Network Rail.

A programme of steam days and other special events is undertaken, alongside the Weekend and Wednesday opening of the Museum site, to raise interest in the historical assets held and 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 performance, 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 and Mark Fogg Elliot as Treasurer. From April 2024, Mike Stanbury resigned and Jaki Collison and Brendan Sothcott were elected as Trustees and attended the board meetings from that point.

Review of financial position

The year was the first to be free of any coronavirus restrictions and was generally a 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.

Works on the Exhibition Hall continued, with the construction of the mezzanine platform and the track connection to the rest of the site allowing additional vehicles to be kept undercover for much of the year.

2

EAST ANGLIAN RAILWAY MUSEUM

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Demolition works were undertaken on the existing Heritage Centre to prepare the site for the construction of the replacement permanent structure. This necessitated the creation of an interim display area within the Thompson Building. Just as the year closed, the steelwork of the new building was being erected.

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.

Works on the N7 boiler are paused pending generation of additional funds to continue these works.

In May 2024, through collaboration with others, the Museum welcomed into the collection two cars of a class 309 Clacton Express unit, which although in need of substantial restoration works. This fills a gap in the collection allowing us to present the history of electrification in East Anglia.

The year has seen a similar events program to 2022-23, with Days out with Thomas still providing the biggest revenue stream, however the other events have seen healthy returns. Focus is given to keeping costs low, taking advantage of an apparent increase in the leisure and holiday market. A celebration in the summer of the 175[th] anniversary of the branch line was well received by our local community, which has helped to further engage our neighbours with the aims of the Museum.

Most costs continue to increase, including staffing and coal, but the negotiation of a new utility rate has helped control electricity costs. So far any increases these have been accommodated within our current revenues.

Review of Activities and Achievements

The works continuing on the Exhibition Hall the represents the most significant which will be a replacement Heritage Centre. The museum is grateful for the support of a substantial legacy. Much other work continues on site and features in

Our in-house marketing team has generated low cost advertising supported by regular press releases, which has been reflected in our visitor numbers.

To fulfil our educational objectives, there continues to be interest in school visits, together with visits by parties other adult organisations.

3

EAST ANGLIAN RAILWAY MUSEUM

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Education of the wider public takes place as we demonstrate during our various operating and non-operating days. Volunteers talkto explain the historic role of railways and its place in 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 can only improve the visitor experience.

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 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 forward.

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 since the Victorian age of their inception. 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.

4

EAST ANGLIAN RAILWAY MUSEUM

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Victorian age of their inception. 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 reserves enabling our investment programme with the build of the new 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 Term Proposals

The Trustees are tasked with supporting the construction of 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 successful money making events.

5

EAST ANGLIAN RAILWAY MUSEUM

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Legal status

The Museum is an incorpoated 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.

Trustees' responsibilities 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:

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 Approved by the Trustees and signed on their behalf by by. es uste

M D Conell Trustee

6

EAST ANGLIAN RAILWAY MUSEUM

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

I report on the accounts of East Anglian Railway Museum for the year ended 30 September 2024 which are set out on pages 8 to 21.

Respective responsibilities of trustees and examiner

Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed. The charities gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Association of Accounting Technicians. It is my responsibility to:

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 evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.

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:

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 5 r and on behalf c

08/09/2025

Date

7

EAST ANGLIAN RAILWAY MUSEUM

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2024

Unrestricted
Notes
2024
£
Incoming resources
Donations & legacies
3
40,737
Other trading income
4
15,084
Incoming resources
from Charitable activities
Total incoming resources
316,200
Resources expended
Costs of raising funds
6
16,165
Charitable activities
7
113,153
Total resources expended
129,318
Net movement in funds
for the year
Revaluation
-
Balances brought forward
at 1 October 2023
Balances carried forward
at 30 September 2024
1,932,076
2,118,958
186,882
5
260,379		 Restricted
2024
£
9,000
-
9,000
-
1,547
-
1,547
-
-
49,436
10,547
-
59,983		 Designated
2024
£
-
-
-
-
-
-
-
535,567
-
-
535,567		 Total
2024
£
49,737
15,084
325,200
16,165
111,605
127,770
-
260,379
2,714,508
2,517,079
197,429		 Total
2023
£
30,057
6,345
332,146
14,659
122,172
136,831
-
195,314
295,744
2,517,079
2,321,766

Continuing operations

All incoming resources and resources expended derive from continuing activities

Notes on pages 11 - 21 form part of these financial statements

8

EAST ANGLIAN RAILWAY MUSEUM

BALANCE SHEET AS AT 30 SEPTEMBER 2024

----- Start of picture text -----
Notes 2024 2024 2023 2023
£ £ £ £
Fixed assets
Tangible asset 9 300,651 305,601
Heritage assets 10 744,808 737,189
Inalienable and historic assets 11 - -
Investments 12 890,596 890,596
1,936,055 1,933,386
Current assets
Debtors 12 648,743 441,271
Cash at bank and in hand 208,836 206,558
857,579 647,829
Creditors: amounts falling due
within one year 14 79,126 64,136
Net current assets 778,453 583,693
Total assets less current liabilities 2,714,508 2,517,079
Net assets 2,714,508 2,517,079
Funds 15
Unrestricted reserves 1,144,244 957,362
Restricted reserves 59,983 49,436
Prior Revenue reserve 535,567 535,567
Property & Assets Revaluation reserve 807,005 807,005
Goodwill reserve 167,709 167,709
2,714,508 2,517,079
----- End of picture text -----

9

EAST ANGLIAN RAILWAY MUSEUM

BALANCE SHEET AS AT 30 SEPTEMBER 2024

For the year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small Companies.

Trustee's responsibilities:

Approved by the Board of Trustees on 24th March 2025. and signed on its behalf by

M D Cornell Trustee

Company Number: 02546486

Date: 4th September 2025

10

EAST ANGLIAN RAILWAY MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. Accounting policies

Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement on Recommended Practise 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Statement 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 statement 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 unrestricted 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 resources

All incoming resources are included in the statement of financial activities when the Charity is legally entitled to the income and the amount can be quantified with 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 only when the Charity has to fulfil conditions before becoming entitled 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 the 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 party is bearing the cost.

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 2024

1. Accounting policies (continued)

Incoming resources (continued)

Grants from the 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 accruals basis and is recognised when there is a legal or constructive obligation to pay. Expenditure has been classified under headings that aggregate all costs 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 the resources.

The cost of activities in furtherance of the Charity's objectives represent the cost of goods and services and ancillary trading costs that have been incurred in the Charitable activities. These also include costs directly incurred in support of the objects of the Museum.

Costs of generating funds include 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 artefacts in furtherance of its aims of preserving items of historical interest connected with the railways. The artefacts are capitalised at cost. The useful life of the asset is considered to be so long that any depreciation charge would be immaterial, therefore no depreciation is charged on these assets.

Tangible fixed assets and depreciation

Tangible fixed assets costing more than £250 are capitalised, including any incidental expenses of acquisition.

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

----- Start of picture text -----
||| |---|---| |Freehold buildings|2% straight line| |Plant and machinery|10% straight line| |Fixtures and fittings|15% straight line| |Locomotive restoration|7 years straight line| |Vehicles|15% straight line|

----- End of picture text -----

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 2024

1. Accounting policies (continued)

Investments

The Museum holds controlling interests in subsidiary Companies, which undertake other activities at the same location.

Taxation

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 within categories covered by Section 505 of the Taxes Act 1988 or Section 256 of the taxation of Chargeable Gains Act 1992 to the 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 equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

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 Companies Act 2006 not to prepare group accounts.

2. Winding 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 liabilities, the assets represented by the accumulated fund shall be transferred to some other Charitable body or bodies having similar objects to the Charity.

3. Donations and legacies

Other donations
Legacies
Gifts in Kind		 Unrestricted
£
2,737
38,000
-
40,737		 Restricted
£
9,000
-
-
9,000		 2024
£
11,737
38,000
-
49,737		 2023
£
21,974
8,083
-
30,057

13

EAST ANGLIAN RAILWAY MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

----- Start of picture text -----
|||||| |---|---|---|---|---| |4.|Other trading income| |Unrestricted|Restricted|2024|2023| |£|£|£|£| |Museum events|15,084|-|15,084|6,345|

----- End of picture text -----

East Anglian Railway Museum runs beer festival events throughout the year. These events are run with CAMRA, who take a percentage of the profit 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 events are included in these accounts.

5. Incoming resources from charitable activities

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Restricted|2024|2023| |£|£|£|£| |Museum membership|1,820|-|1,820|422| |Museum admissions|255,347|-|255,347|275,520| |Gift aid tax refunds|-|-|-|3,643| |Other income|400|-|400|13,537| |Grants|2,500|-|2,500|500| |Bank interest receivable|312|-|312|122| |Sale of assets|-|-|-|2,000| |-| |260,379|260,379|295,744| |6.|Costs of raising funds| |Unrestricted|Restricted|2024|2023| |£|£|£|£| |-| |Museum events expenditure|16,165|16,165|14,659|

----- End of picture text -----

14

EAST ANGLIAN RAILWAY MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. Charitable activities
Museum admissions		 Unrestricted
£
113,153
113,153		 Restricted
£
1,547
-
1,547
-		 2024
£
111,606
111,606		 2023
£
122,173
122,173

Charitable activity expenditure can be further analysed as follows:

Cost of goods or services as
a Charitable activity
Wages and national insurance
Publicity
Bank charges
Sundry expenses
Insurance
Depreciation		 Unrestricted
£
64,879
561
257
1,007
26,145
11,951
113,153
8,353		 Restricted
£
-
-
-
-
-
-
1,547
-
1,547
-		 2024
£
64,879
561
257
1,007
26,145
11,951
111,606
6,806		 2023
£
79,192
2,208
296
4,648
19,488
11,354
122,173
4,987

8. Staff costs

Gross salaries
Social security costs
Pension costs
Total staff costs		 Unrestricted
£
60,005
3,721
1,153
64,879		 Restricted
£
-
-
-
-		 2024
£
60,005
3,721
1,153
64,879
2024
No.		 2023
£
74,871
3,265
1,056
79,192
2023
No.

The actual number of employees during the year was made up as follows:

Charitable activities 8 8

Key management personnel

There are no management staff employed with East Anglian Railway Museum. No member of staff received more than £60,000 per annum.

15

EAST ANGLIAN RAILWAY MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. Tangible fixed assets

Cost or valuation
At 1 October 2023
Additions
Disposal
Revaluation
At 30 September 2024
Depreciation
At 1 October 2023
Charge for the year
Revaluation
Disposal
At 30 September 2024
Net book values
At 30 September 2024
At 30 September 2023		 Freehold
land and
buildings
£
494,322
-
-
-
494,322
199,549
9,318
-
-
208,867
285,455
294,773		 Other
tangible
assets
£
73,020
7,001
-
-
80,021
62,192
2,633
-
-
64,825
15,196
10,828		 Motor
Vehicles
£
-
-
-
-
-
-
-
-
-
-
-		 Total
£
567,342
7,001
-
-
574,343
261,741
11,951
-
-
273,692
300,651
305,601

As land and buildings are not separately identifiable, land has been depreciated at a rate of 2% straight line.

A freehold property was valued for insurance purposes in May 1999 by John V Story & Co. a firm of independent Chartered surveyors. The adjustment was made and is reflected in the revaluation reserve.

The Charity revalued the freehold property in order to take advantage of the new SORP 2015 rules coming into force, therefore does not 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 total. The revaluation reserve has been amended as appropriate.

16

EAST ANGLIAN RAILWAY MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

----- Start of picture text -----
10. Heritage assets Heritage
Assets Total
£ £
Cost or valuation
At 1 October 2023 737,189 737,189
Additions 9,463 9,463
Revaluation - -
Disposals (1,844) (1,844)
At 30 September 2024 744,808 744,808
Depreciation
At 1 October 2023 - -
- -
Charge for the year
- -
Disposal
- -
At 30 September 2024
Net book values
At 30 September 2024 744,808 744,808
At 30 September 2023 737,189 737,189
11. Inalienable and historic assets
2024 2023
£ £
- -
Rolling stock
12. Fixed asset investments
2024 2023
£ £
Unlisted investments
Cost at 1 October 2023 890,596 890,596
Additions - -
Cost at 30 September 2024 890,596 890,596
Unlisted investments comprise:
2024 2023
£ £
East Anglian Railway Museum (Trading) Limited 886,597 886,597
Eastern Counties Railway Company Limited 3,999 3,999
890,596 890,596
----- End of picture text -----

17

EAST ANGLIAN RAILWAY MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

13. Fixed asset investments (continued)

The charity's investments at the balance sheet date in the share capital of companies include the following:

East Anglian Railway Museum (Trading) Limited

----- Start of picture text -----
|||| |---|---|---| |County of incorporation:|England and Wales| |Nature of business:|Operating the trading aspects of the East Anglian| |Railway Museum| |%| |Class of shares:|Holding| |Ordinary|95| |2024|2023| |£|£| |Aggregate capital and reserves|990,945|990,945| |Gain for the year|(148,951)|(148,951)| |Turnover|41,385|41,385|

----- End of picture text -----

Eastern Counties Railway Company Limited

----- Start of picture text -----
|||| |---|---|---| |County of incorporation:|England and Wales| |Nature of business:|Development of land at Railway Station| |%| |Class of shares:|Holding| |Ordinary|98| |2024|2023| |£|£| |Aggregate capital and reserves|3,204|3,204| |-|-| |(Loss) for the year| |14.|Debtors| |2024|2023| |£|£| |Amounts due from associated or subsidiary undertakings|638,238|422,032| |Prepayments|10,172|15,413| |Other debtors|333|3,826| |648,743|441,271| |14.|Creditors: amounts falling due within one year| |2024|2023| |£|£| |Other creditors|75,252|51,088| |PAYE and national insurance|670|9,844| |Intercompany loans|3,204|3,204| |79,126|64,136|

----- End of picture text -----

18

EAST ANGLIAN RAILWAY MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

Unrestricted funds
Unrestricted funds
Restricted funds
N7
Property Revaluation
Reserve
Prior revenues invested
Goodwill Reserve		 Balance
at
30.09.23
£
957,362
49,436
807,005
535,567
167,709
2,517,080		 Incoming
resources
Expenditure
£
£
316,200
(129,318)
9,000
1,547
-
-
-
-
-
-
325,200
(127,771)
Movement in funds		 Transfer
between
funds
£
-
-
-
-
-
-		 Balance
at
30.09.24
£
1,144,244
59,983
807,005
535,567
167,709
2,714,508

15. Unrestricted funds

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.

Restricted funds are by definition only permitted 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. Analysis of net funds

Fixed assets
Current assets (exc cash)
Cash at bank and in hand
Current liabilities
Long term debtors
Net assets		 Unrestricted
£
1,891,174
648,743
193,734
(79,126)
-
2,654,525		 Restricted
£
44,881
-
15,102
-
-
59,983		 2024
£
1,936,055
648,743
208,836
(79,126)
-
2,714,508		 2023
£
2,128,521
441,271
206,558
(64,136)
-
2,712,214

19

EAST ANGLIAN RAILWAY MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

17. Related parties

At 30 September 2024 the Museum held the following inter company balances with its subsidiaries. Debtor balances of £636,690 (2023: £384,207) with East Anglian

Railway Museum (Trading) Limited and creditor balances £3,204 (2023: £3,204) with Eastern Counties Railway Company Limited.

During the year the Museum paid rent of £Nil to East Anglian Railway Museum (Trading) Limited, (2023: £160,000).

No remuneration has been paid to Trustees during the year.

Expenses have been reimbursed to Trustees of a total of £Nil (2023: £Nil)

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 the group as a whole, due to the small size of the subsidiaries.

20

EAST ANGLIAN RAILWAY MUSEUM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. Comparative note for previous years statement of financial activities

Incoming resources
Incoming resources from
generating funds:
Voluntary income
Income for generating funds
Incoming resources
from Charitable activities
Total incoming resources
Resources expended
Costs of generating funds
Charitable activities
Total resources expended
Net movement in funds
for the year
Revaluation
Balances brought forward
at 1 October 2022
Balances carried forward
at 30 September 2023		 Unrestricted
2023
£
30,057
6,345
332,146
14,659
122,173
136,832
-
195,314
1,736,762
1,932,076
295,744		 Restricted
2023
£
-
-
-
-
-
-
-
-
49,436
49,436
-		 Designated
Total
2023
2023
£
£
-
30,057
-
6,345
-
332,146
-
14,659
-
122,172
-
136,831
-
-
195,315
2,321,765
-
535,567
535,567
2,517,079
295,744
-

21